Lessor's Statement definition

Lessor's Statement means an instrument containing a computation of any Additional Rent payable by Lessee to Lessor pursuant to this Article.
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Lessor's Statement setting forth in reasonable detail the actual Building Taxes, Building Operating Expenses and Management Controllable Building Operating Expenses paid or incurred by Lessor during the preceding year and the amount of the Building Taxes Excess (if any) and the amount of the Building Operating Expenses Excess (if any), and thereupon within thirty (30) days an adjustment will be made by Lessee’s payment to Lessor or credit to Lessee by Lessor against the Building Expenses Excess or Base Rent next becoming due from Lessee, as the case may require, to the end that Lessor shall receive the entire amount of Lessee’s Percentage Share of Building Expenses Excess for such calendar year and no more (and Lessee shall receive a credit for the amount of any overpayment as set forth above). If, based on Lessor’s Statement a payment from Lessee is required, Lessee shall not have the right to withhold or defer such payment pending a review of Lessor’s books and records pursuant to the following paragraph or the resolution of any dispute relating to Building Expenses Excess; provided that Lessee may make such payment under protest and the making of such payment pursuant hereto shall not limit Lessee’s right to review such books and records as hereinafter provided. If the date of the expiration of the Term is on a day other than the last day of a calendar year, the amount of Building Expenses Excess payable by Lessee for the calendar year in which the date of the expiration of the Term falls shall be prorated on the basis which the number of days from the commencement of such calendar year to and including such date of the expiration of the Term bears to three hundred sixty (360). The termination of this Lease shall not affect the obligations of Lessor and Lessee pursuant to this Article 7. In the event that Building Taxes for any calendar year are less than Building Taxes for the Base Year and/or Building Operating Expenses for any calendar year are less than Building Operating Expenses for the Base Year, Lessee shall not receive a credit against any Rent payable hereunder as a result thereof. Within sixty (60) days after Lessee receives a statement of actual Building Taxes and Building Operating Expenses paid or incurred for a calendar year, Lessee shall have the right, upon written demand and reasonable notice, to inspect Lessor’s books and records relating to the Building Expenses Excess for the calendar year covered by Lessor’s Statement for the purpose of verifying the...
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Lessor's Statement means a statement, certified by a representative of Lessor or Lessor's management company, setting forth in detail the amount of (a) each item included in the Operating Expenses for the period in question and (b) any other Additional Rent determined by Lessor to be due and owing for the period in question. All amounts due Lessor shall be paid in a lump sum within thirty (30) days after Lessee receives Lessor's Statement which will be submitted, within sixty (60) days after each calendar or fiscal year, as the case may be. Any Lessor Statement rendered to Lessee shall consist of data prepared for Lessor by its internal accountant(s) and shall constitute a final determination between Lessor and Lessee as to Operating Expenses for the period represented thereby.
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Examples of Lessor's Statement in a sentence

  • Monthly installments for the ensuing year shall be adjusted upward or downward as set forth in Lessor's Statement.

  • Lessee's Share of Additional Rent for the ensuing estimation period shall be adjusted upward or downward based upon Lessor's Statement.

  • Within ninety (90) days following the end of the period used by Lessor in estimating Lessor's cost, Lessor shall furnish to Lessee a statement (hereinafter referred to as "Lessor's Statement") of the actual amount of Lessee's Share of such Additional Rent for such period.

  • Within ninety (90) days following the end of the period used by Lessor in estimating Additional Rent, Lessor shall furnish to Lessee a statement (hereinafter referred to as "Lessor's Statement") of the actual amount of Lessee's proportionate share of such Additional Rent, or Lessor shall remit or credit to Lessee, as the case may be, the difference between the estimated amounts paid by Lessee and the actual amount of Lessee's Additional Rent for such period as shown by such statement.

  • Within ninety (90) days following the end of the period used by Lessor in estimating Additional Rent, Lessor shall furnish to Lessee a statement (hereinafter referred to as "Lessor's Statement") of the actual amount of Lessee's proportionate share of such Additional Rent for such period.

  • Unless Lessee asserts in writing a specific error within ninety (90) days following Lessee's receipt of Lessor's Statement, the amounts set forth in Lessor's Statement shall be conclusively deemed correct and binding on Lessee.

  • Within ninety (90) days following the end of the period used by Lessor in estimating Additional Rent, Lessor shall furnish to Lessee a statement (hereinafter referred to as "Lessor's Statement") of the actual amount of Lessee's Additional Rent, or Lessor shall remit or credit to Lessee, as the case may be, the difference between the estimated amounts paid by Lessee and the actual amount of Lessee's Additional Rent for such period as shown by such statement.

  • Within Thirty (30) days next following rendition of each such Lessor's Statement, Lessee shall pay to Lessor the entire amount, if any, shown on such Lessor's Statement as being due with respect to any period which shall have expired.

  • In order for Lessee to exercise its right under this Section, Lessee shall, within thirty (30) days after any Lessor's Statement, deliver a written notice to Lessor exercising its rights hereunder with regard to such Lessor's Statement, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's Statement.

  • Within sixty (60) days after Lessee receives a statement of actual Project Taxes and Operating Expenses paid or incurred for a calendar year, Lessee shall have the right, upon written demand and reasonable notice, to inspect Lessor's books and records relating to such Project Taxes and Operating Expenses for the calendar year covered by Lessor's Statement for the purpose of verifying the amount set forth in such statement.

Related to Lessor's Statement

  • Landlord’s Statement means an instrument or instruments containing a comparison of any increase or decrease in the Rent for the preceding Comparison Year pursuant to the provisions of this Article 28.

  • Tenant records means all information, including financial, maintenance, and other records about a

  • E-Statement means an electronic version of daily confirms, monthly, quarterly or annual statements, and shareholder tax statements created with investor transaction data housed on DST’s TA2000® mutual fund record keeping system, with images available online via a secure web site.

  • Operating Statement shall have the meaning given to such term in Section 10.5.

  • Rent Roll shall have the meaning set forth in Section 3.18 hereof.