Definition of Tenant's Projected Share of Operating Expenses


Tenant's Projected Share of Operating Expenses means Tenant's Proportionate Operating Share of Landlord's reasonable estimate of the increase in Operating Expenses in any Operational Year over the Operating Expense Base, divided by twelve (12), and payable monthly by Tenant to Landlord as additional rent as provided below. 5.08 After the expiration of the Base Year, Landlord shall furnish Tenant a statement setting forth the aggregate amount of the Operating Expense Base and Landlord's computation of Tenant's Projected Share of Operating Expenses for the immediately succeeding Operational Year. After the expiration of each Operational Year after the Base Year, Landlord shall furnish Tenant a statement setting forth the aggregate amount of the Operating Expenses for such Operational Year and Landlord's computation of Tenant's Projected Share of Operating Expenses for the immediately succeeding Operational Year. The statements furnished under this Section 5.08 is hereinafter referred to as an "Operating Statement". 5.09 If the Operating Expenses for any Operational Year shall be more than the Operating Expense Base, Tenant shall pay, as additional rent for such Operational Year, an amount equal to Tenant's Proportionate Share of the amount by which the Operating Expenses for such Operational Year are greater than the Operating Expense Base. (The amount payable by Tenant is hereinafter referred to as the "Operating Expense Payment".) The Operating Expense Payment shall be prorated, if necessary, to correspond with that portion of an Operational Year occurring within the Term of this Lease. The Operating Expense Payment shall be payable by Tenant within ten (10) days after receipt of the Operating Statement, except if the difference is greater than $5,000.00. In such event the amount shall be paid in two (2) equal installments; the first payment shall be due and payable within thirty (30) days from the date that Tenant receives the Operating Statement, and the second payment shall be due and payable within sixty (60) days from the date that Tenant receives the Operating Statement.
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