Examples of Operating Cost in a sentence
Base Rent and Operating Cost under this Agreement may collectively be referred to as “Rent” or “Rents.” All Rents shall be made payable to Landlord and delivered to the address stated above or to another address as Landlord may designate upon reasonable notice to Tenant.
Within a reasonable time after the end of each calendar year, Landlord shall prepare and deliver to Tenant a statement showing the actual Annual Operating Cost Adjustment (the “Operating Cost Adjustment Statement”).
Notwithstanding the foregoing, upon expiration or earlier termination of this Lease, if Landlord has not delivered the Operating Cost Adjustment Statement within twelve (12) months after Tenant has vacated the Premises, Tenant shall not be obligated to pay to Landlord any amounts contained within.
Subject to Xxxxxx’s right to audit the accuracy of the Operating Costs, within thirty (30) days after receipt of the Operating Cost Adjustment Statement, Tenant shall pay to Landlord, or Landlord shall credit against the next Rent payment or payments due from Tenant, as the case may be, the difference between the actual Annual Operating Cost Adjustment for the preceding calendar year and the estimated amount paid by Tenant during such year.
In addition to the Base Rent specified in this Lease, commencing as of the Commencement Date, Tenant shall pay to Landlord, in each calendar year or partial calendar year during the Term, an amount equal to the Annual Operating Cost Adjustment for such calendar year.