Tenants Estimated Share means, with respect to any calendar year, the product of (A) Tenants Proportionate Share, multiplied by (B) the amount, if any, by which Landlords good faith estimate of the total of Taxes for such calendar year exceeds the Base Amount for Taxes, or the total of Operating Expenses for such calendar year exceeds the Base Amount for Operating Expenses, as applicable.
Until a new Estimate Statement is furnished (which Landlord shall have the right to deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the total of Tenants Estimated Share of Direct Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant.
On or prior to January 1, 2013, and on the first day of each month following January 1, 2013, Tenant shall pay to Landlord one-twelfth (1/12th) of Tenant's Estimated Share of Operating Expenses as specified in the Estimated Operating Expenses Statement for such Operating Year.
LANDLORD reserves the right during any year to adjust Tenant's Estimated Share of Operating Expenses in any year to reflect increases of 5% or more by which actual Operating Expenses are exceeding Estimated Operating Expenses.
The Final Expense Adjustment shall be calculated by subtracting Tenant's Estimated Share of Operating Expenses from the Tenant's Share of Operating Expenses.
On the first day of the new calendar year, Tenant shall pay to Landlord, on account of Tenant's Estimated Share, an amount equal to one-twelfth 12) of Tenant's Estimated Share, and on the first day of each succeeding month up to and including the time that Tenant shall receive a new statement of Tenant's Estimated Share, Tenant shall pay to Landlord, on account of Tenant's Estimated Share, an amount equal to one-twelfth 12) of the then applicable Tenant's Estimated Share.