Actual Operating Expenses. Within one hundred twenty (120) days after the end of each Calendar Year or as soon as possible thereafter, Landlord shall submit a statement to Tenant showing the actual Operating Expenses for such Calendar Year and Tenant's Proportionate Share of the amount by which such Operating Expenses exceed the Expense Stop. If for any Calendar Year, Tenant's estimated monthly payments exceed Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such Calendar Year exceed the Expense Stop, then Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant's next monthly payments of estimated Operating Expenses. In the event that the credit exceeds Tenant's future monthly statements, the Landlord shall immediately reimburse such excess to Tenant in cash. If for any Calendar Year Tenant's estimated monthly payments are less than Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such Calendar Year exceed the Expense Stop, than Tenant shall pay the total amount of such deficiency to Landlord within forty-five (45) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Operating Expenses shall survive the expiration or termination of this Lease.
Actual Operating Expenses. By May 1 of each year during the Term or the year following the termination of this Lease, or as soon as possible thereafter, Lessor shall provide Lessee a statement showing: (i) the Actual Operating Expenses for the prior calendar year then ended (ii) the Operating Expense Amount for the prior calendar year then ended; (iii) the Base Year Operating Expense Amount; (iv) the difference between subparts (ii) and (iii); and (v) a statement prepared by Lessor comparing Forecast Additional Rental with actual Additional Rental based on such Actual Operating Expenses (collectively the “Operating Cost Report”). In the event that Forecast Additional Rental exceeds Additional Rental for said calendar year, Lessor shall pay Lessee (in the form of a credit against such rentals next due if during the Term) an amount equal to such excess. In the event that the Additional Rental exceeds Forecast Additional Rental for said calendar year, Lessee shall pay Lessor, within thirty (30) days of receipt of the statement, an amount equal to such difference. Lessor shall maintain books and records reflecting the Actual Operating Expenses and Lessee shall have the right to inspect and audit Lessor’s records at Lessor’s office upon at least five (5) business days’ prior written notice during normal business hours during the 365 days following the delivery of an Operating Cost Report. The results of any such inspection shall be kept strictly confidential by Xxxxxx and its agents, and Lessee and its agents must agree, in their contract for such services, to such confidentiality restrictions and shall specifically agree that the results shall not be made available to any other lessee of the Building. Unless Lessee sends to Lessor any written exception to Operating Cost Report within said 365-day period, such report shall be deemed final and accepted by Xxxxxx. Lessee or Lessor (as the case may be depending on the difference between Forecast Additional Rental and Additional Rental) shall pay the amount shown on the Operating Cost Report for such calendar year in the manner prescribed in this Lease, whether or not Lessee takes any such written exception, without any prejudice to such exception. If Xxxxxx makes a timely exception, Lessee or their qualified professional can audit the books and records reflecting actual operating expenses. Lessee cannot use contingent fee auditors. Lessee’s exception and reconciliation, if necessary, shall be made between parties, and any amount owed shall ...
Actual Operating Expenses. Landlord shall within a period of ninety (90) days after the close of each calendar year, notify Tenant by written itemized statement (“Notice of Comparison”) of (i) the total amount Landlord actually paid or incurred (depending upon whether Landlord utilizes an accrual or cash basis accounting system) as the Operating Expenses during the calendar year covered by the Notice of Comparison (“Actual Operating Expenses”); and (ii) the difference, if any, between the Actual Operating Expense and the Estimated Operating Expenses payable by Tenant (“Additional Rent Adjustment”). (iii)
Actual Operating Expenses. Borrower shall furnish or cause to be furnished to Lender, within thirty (30) days after the end of each calendar month, a report (accompanied by an Officer’s Certificate stating that such items are true, correct and complete in all material respects) reconciling (a) the actual operating expenses paid in cash or incurred by or on behalf of Borrower with respect to the Property during such calendar month (the “Actual OpEx”) with (b) the operating expenses set forth in the Approved Annual Budget for such calendar month (the “Budgeted OpEx”). If the Budgeted OpEx exceeds the Actual OpEx for any calendar month, the amount of such excess shall be known as the “OpEx Overpayment Amount”.
Actual Operating Expenses. Within one hundred eighty (180) days after the end of each calendar year, Landlord shall submit a statement to Tenant showing the actual Operating Expenses for such calendar year and Tenant's Proportionate Share of the amount by which such Operating Expenses exceed the Operating Expenses during the Base Year. If for any calendar year, Tenant's estimated monthly payments exceed Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant's next monthly payments of estimated Operating Expenses. If for any calendar year Tenant's estimated monthly payments are less than Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Operating Expenses shall survive the expiration or earlier termination of this Lease.
Actual Operating Expenses. 14 7.6 Tenant's Right to Audit..................................14
Actual Operating Expenses. Within ninety (90) days after the end of each Calendar Year or as soon thereafter as reasonably practicable, Landlord shall submit a statement to Tenant showing the actual Operating Expenses for such Calendar Year and the amount of Tenant's Proportionate Share of such actual Operating Expenses. If, for any Calendar Year, Tenant's estimated payments exceeded Tenant's Proportionate Share of actual Operating Expenses, Tenant shall receive a credit in the amount of the overpayment toward Tenant's next monthly payments of Operating Expenses. If, for any Calendar Year, Tenant's estimated monthly payments were less than Tenant's Proportionate Share of actual Operating Expenses, then Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Tenant's Proportionate Share of Operating Expenses shall survive the expiration or termination of this Lease.
Actual Operating Expenses. “Actual Operating Expenses” shall mean, subject to the terms hereof, all operating expenses, computed on an accrual basis, for the Office Building, the equitable allocation of the operating costs of such additional facilities within the Project that service the Office Building and the Allocated Project Costs (as defined below). “Operating Expenses” shall mean all expenses, costs, and disbursements (but not replacements of capital investment items, except as set forth in Section 2.4(e) below, or specific costs billed to specific tenants or as otherwise excluded in Section 2.5 below) of every kind and nature relating to or incurred or paid in connection with the ownership, management and operation of the Project, including, but not limited to, the following:
Actual Operating Expenses. Article IV of the Lease is hereby modified and amended to provide that, commencing on June 1, 1998, and continuing throughout the Second Expansion Space Term, Tenant shall pay to Landlord as additional rental for the Second Expansion Space (in addition to the Second Expansion Space Percentage Rent for the Second Expansion Space, and in addition to the Base Rent, Percentage Rent, Net Lease Obligations and all Additional Charges for the Original Leased Property and the Expansion Space), the Actual Operating Expenses (as defined herein) attributable to the Second Expansion Space. Actual Operating Expenses shall include all expenses, costs and disbursements of every kind and nature incurred or paid by Landlord in connection with the ownership and/or the operation, maintenance, repair and security of the Second Expansion Space. All Actual Operating Expenses shall be payable in accordance with the terms and provisions of the Lease.
Actual Operating Expenses. Landlord shall deliver to Tenant as soon as available following the end of each calendar year, but in no event later than ninety (90) days following year-end, a reconciliation statement (the “Statement”) of the actual Operating Expenses incurred or accrued for the preceding calendar year, and Txxxxx’s Share thereof, with the Estimated Amount previously paid by Tenant pursuant to Section 3.2.1.1 for such preceding calendar year. Within thirty (30) days after Txxxxx receives the Statement for each Expense Year, Tenant shall pay any underpayment of Tenant’s Share of Operating Expenses shown by the Statement. If there is an overpayment of Tenant’s Share of the Operating Expenses set forth on the Statement, the amount of such overpayment shall be credited against payments of Tenant’s Share of the estimated Operating Expenses as they become due for the then current calendar year (or, if such overpayment occurs for the last calendar year of the Lease Term, such overpayment amount shall be paid by Landlord to Tenant within thirty (30) days of Landlord’s delivery to Tenant of the Statement). Lxxxxxxx’s failure to provide Tenant with a Statement for a particular calendar year within 18 months after the end of such calendar year shall constitute a waiver of Landlord’s right to collect any Operating Expenses in addition to those already collected by Landlord except for any additional expenses levied by any governmental authority or by any public utility companies (including, without limitation, as a result of any new or supplemental tax bills issued by the applicable taxing authority) after such 18-month period but attributable to such calendar year.
