Tenants Share of Expenses means, for each Adjustment Year, the sum of money equal to Tenants Pro Rata Share of an amount equal to the sum of (i) the Operating Expenses for such Adjustment Year, less the Operating Expenses for the Base Year; (ii) Taxes for such Adjustment Year, less the Taxes for the Base Year; and (iii) Landlords Insurance Expense for such Adjustment Year, less Landlords Insurance Expense for the Base Year in no event shall Tenants Share of Expenses or any individual item (i), (ii), or (iii) above be less than zero (0).
Examples of Tenants Share of Expenses in a sentence
Tenants Share of Expenses and Tenants Share of Taxes for any partial Expense Year shall be prorated based on the number of days in such Expense Year.
In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4, for each Expense Year (defined in Section 4.2.1), an amount equal to the sum of (a) Tenants Share of Expenses for such Expense Year, plus (b) Tenants Share of Taxes for such Expense Year.
Tenants obligation to pay Basic Rent and Tenants Share of 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 Landlords restoration for the period of time that Tenant is unable to use such portion of the Premises.
In such event, Landlord will re-estimate the monthly Additional Rent attributable to Tenants Share of Expenses to an amount sufficient for Tenant to pay the re-estimated monthly amount over the balance of the calendar year.
Tenant fails to pay as and when due (a) Basic Rent, (b) any installment of Tenants Share of Expenses, or (c) any other Additional Rent amount, and such failure continues for 10 days after Landlord notifies Tenant of such failure.