Definition of Tenant's Share of Excess Expenses


Tenant's Share of Excess Expenses means the product obtained by multiplying the amount of Excess Expenses for the period in question by the Tenant's Share of Excess Expenses Percentage.

Examples of Tenant's Share of Excess Expenses in a sentence

Tenant's obligation to pay Basic Rent and Tenant's Share of Excess Expenses will abate on a proportionate basis with respect to that portion of the Premises remaining after the Taking that Tenant is unable to use during Landlord's restoration for the period of time that Tenant is unable to use such portion of the Premises.
Landlord will prorate Tenant's Share of Excess Expenses due and payable during the calendar year in which the Lease commences or terminates as of the Commencement Date or termination date, as applicable, on a per diem basis based on the number of days of the Term within such calendar year.
Notwithstanding any contrary language in this Lease, Landlord may change Tenant's Share of Excess Expenses Percentage each calendar year to the percentage Landlord calculates by dividing the rentable area of the Premises by the greater of (a) 95% of the rentable area of the Building for such calendar year; or (b) the rentable area of the Building actually leased pursuant 4 7 to leases under which the terms have commenced for such calendar year.
Tenant will pay, as Additional Rent and in the manner this Article 3 describes, Tenant's Share of Excess Expenses due and payable during any calendar year of the Term.
If Tenant paid mom than the amount of Tenant's Share of Excess Expenses specified In the statement, Landlord will, at Landlord's option, either (a) refund the excess amount to Tenant, or (b) credit the excess amount against Tenant's next due monthly installment or installments of estimated Additional Rent If Landlord is delayed in delivering such statement to Tenant, such delay does not constitute Landlord's waiver of Landlord's rights under this Section.