Estimate and Payment. (a) The Landlord shall deliver to the Tenant a written estimate or a written revised estimate of:(i) Tenant's Occupancy Costs for each Fiscal Year; and (ii) Tenant's Proportionate Share of those Taxes that are imposed against the Project or any part of it including the Common elements. The Tenant shall pay to the Landlord the amount so estimated in equal monthly instalments (except as otherwise required in this Section 4.06 with respect to Property Taxes) in advance over that Fiscal Year simultaneously with the Tenant's payments on account of Basic Rent. If the Landlord does not deliver to the Tenant such an estimate, the Tenant shall continue to pay Tenant's Occupancy Costs and Tenant's Proportionate Share of Taxes based on the last such estimate delivered by the Landlord until a further estimate is delivered by the Landlord and the next payment on account of Tenant's Occupancy Costs or Taxes shall be adjusted to take into account any over or under payment in the preceding instalments paid in the Fiscal Year to which the estimate or revised estimate relates. Notwithstanding the foregoing, as soon as bills for all or any portion of amounts included in Operating Costs (including, without limitation, Taxes) as so estimated are received, the landlord may bill the Tenant for the Tenant's Proportionate Share thereof and the Tenant shall pay the Landlord such amounts so billed (less all amounts previously paid on account by the Tenant on the basis of the Landlord's estimate as aforesaid) as Rent within 5 days following demand therefore.
Estimate and Payment. Tenant shall pay to Landlord, as Additional Rent, pursuant to this Section 6.9, the amount by which Tenant’s Pro Rata Share, as defined below, of actual Operating Expenses, Real Estate Taxes, Landlord’s Insurance and Utility Expenses (collectively referred to in this Section 6.9 as “Operating Expenses”) exceeds the Base Year Expense Stop for these items. After the first twelve (12) full calendar months of the Term, Landlord may give Tenant written notice of Landlord’s estimate of the amount (“Estimated Operating Expenses”) by which Tenant’s Pro Rata Share of actual Operating Expenses will exceed the Base Year Expense Stop, for the remaining calendar year (prorated for the remainder of such calendar year based on a 365 day year). After each calendar year, and from time to time in any calendar year if Landlord reasonably determines that there will be a notable adjustment in Operating Expenses during such year, Landlord may deliver notice to Tenant of new Estimated Operating Expenses for such calendar year. Each such notice shall identify the amounts of Estimated Operating Expenses that should be paid monthly until the next notice of Estimated Operating Expenses is delivered to Tenant by Landlord, including beyond the calendar year for which such estimate was calculated. Upon receiving an Estimated Operating Expenses notice from Landlord, Tenant shall thereafter pay Landlord the monthly Estimated Operating Expenses identified therein on the first (1st) day of each month concurrently with the payment of each month’s Monthly Rent. Landlord will provide Tenant with annual pro forma estimates of these expenses.
Estimate and Payment. Within thirty (30) days of the approval of the Operating Budget and in any event within sixty (60) days of the commencement of each Fiscal Year, the City shall advise the College and the School Division in writing of its estimate of the Proportionate Share of the Operating Costs of the Shared Areas payable by the College and School Division during the then current Fiscal Year or remaining portion thereof. Such estimate shall be a reasonable estimate and based upon the City billing accrual proportional expense in accordance with Schedule ‘C’. The Proportionate Share of the Operating Costs shall be paid in full within 60 days of written notice of the Proportionate Share of Operating Costs from the City. From time to time the City, subject to approval of the Governance Committee, may re-estimate, on a reasonable basis, the amount of Operating Costs for any Fiscal Year or portion thereof. All adjustments will then be used to recalculate new payment amounts for the remainder of the Fiscal Year.
