Common use of Estimated Expenses Clause in Contracts

Estimated Expenses. (i) Prior to the Commencement Date, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term, Landlord shall estimate the annual Operating Expenses payable by Tenant pursuant to this provision, and Tenant shall pay to Landlord on the first day of each month in advance, one-twelfth (1/12th) of Tenant’s Share of such estimated amount. In the event that during any calendar year of the Term, Landlord determines that the actual Operating Expenses for such year will exceed the estimated Operating Expenses, Landlord may revise such estimate by written notice to Tenant (but only once per year), and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of the revised estimate, an amount equal to one monthly installment of such increase multiplied by the number of months expired during such calendar year to and including the month of such payment; provided, however, in the event any line item of Landlord’s estimate for any calendar year increases by more than three percent (3%) over the prior calendar year, Landlord shall, at the time of the estimate revision, provide Tenant with reasonable substantiation of such increase. Subsequent installments shall be payable concurrently with the regular monthly Base Rent due for the balance of the calendar year and shall continue until the next calendar year’s estimate is rendered. Notwithstanding the foregoing, at Tenant’s request, Landlord agrees to meet with Tenant to discuss Landlord’s budget and estimate of the next year’s Operating Expenses.

Estimated Expenses. (i) Prior to Upon the Commencement Dateof the Lease Term, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term, Landlord shall estimate the annual Operating Expenses payable by Tenant pursuant to this provision, and Tenant shall pay to Landlord on the first day of each month in advance, one-twelfth (1/12th) of Tenant’s 's Share of such estimated amount. In the event that during any calendar year of the TermTerm (but not more than once in any calendar year), Landlord determines that the actual Operating Expenses for such year will exceed (or be less than) the estimated Operating Expenses, Landlord may revise such estimate by written notice to Tenant (but only once per year)Tenant, in reasonably sufficient detail to substantiate the revisions, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of the revised estimate, an amount equal to one monthly installment of such increase thereof multiplied by the number of months expired during such calendar year to and including the month of such payment; provided, howeverif an excess is due, or in the event any line item Landlord's estimate is less than the prior estimate, Tenant shall receive a credit against its next payment of Landlord’s estimate Operating Expenses for any calendar year increases overpayment by more than three percent (3%) over the prior calendar year, Landlord shall, at the time of the estimate revision, provide Tenant with reasonable substantiation of such increaseto date. Subsequent installments shall be payable concurrently with the regular monthly Base Rent due for the balance of the calendar year and shall continue until the next calendar year’s 's estimate is rendered. Notwithstanding Within ninety (90) days following the foregoingend of each year, Landlord shall provide Tenant with a written statement of the actual total Operating Expenses for such year, in reasonably sufficient detail with supporting documentation as Tenant may reasonably request to verify such expenses, and there shall be an adjustment made to account for any difference between Tenant's Share of the actual and the estimated Operating Expenses for the previous year. If Tenant has overpaid the amount of Operating Expenses owing pursuant to this provision, Landlord shall, provided Tenant is not in default of any Rent or other monetary payment hereunder, credit such overpayment to Tenant's account or promptly refund such overpayment if this Lease has terminated or expired. If Tenant has underpaid the amount of Operating Expenses owing pursuant to this provision, Tenant shall pay the total amount of such deficiency to Landlord as Additional Rent with the next payment of Base Rent due under this Lease following delivery of written notice of said deficiency from Landlord to Tenant. Landlord shall keep its books of account and records concerning Operating Expenses in compliance with generally accepted accounting principles and retain the same for three (3) years after the calendar year for which they were prepared. Unless Tenant objects in writing regarding specific discrepancies in the Operating Expense calculations for any calendar year within six (6) months after receipt of Landlord's final calculations for such calendar year, Tenant shall be deemed to have approved the same and to have waived the right to object to such calculations. Tenant has the right to audit Landlord's books and records for Operating Expenses for any calendar year, at any time within the six (6) month period following Tenant’s 's receipt of Landlord's final calculations for such applicable calendar year, with or without specific objection or discrepancy in mind. Tenant shall pay for any such audit unless such audit reveals an overpayment by Tenant of more than $10,000.00 for an applicable calendar year, in which event Landlord shall pay the cost of such audit. In the event Landlord disputes any discrepancy in Tenant's audit, at Landlord's request, Landlord agrees the matter shall be submitted to meet binding arbitration with the American Arbitration Association in its Seattle, Washington office. Upon any final determination of overpayment or underpayment by Tenant of Operating Expenses pursuant to discuss Landlord’s budget and estimate this Section 6.01, the party owing the payment or refund to the other shall pay the same, together with interest thereon at the rate set forth in Section 5.03 above from the date of the next year’s Operating Expensesdetermination within ten (10) days after such determination. Notwithstanding anything in this Section 6.01 to the contrary, commencing with the second calendar year of the Lease Term, Tenant's Share of Common Area maintenance costs (defined as the cost of landscaping, parking sweeping and snow removal, janitorial and other controllable expenses associated with the physical upkeep of the Common Areas) shall not increase by more than seven percent (7%) per calendar year on a cumulative basis.

Estimated Expenses. (i) Prior to Upon the Commencement Dateof the Lease Term, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term, Landlord shall estimate the annual Operating Expenses payable by Tenant pursuant to this provision, and Tenant shall pay to Landlord on the first day of each month in advance, one-twelfth (1/12th) of Tenant’s 's Share of such estimated amount. In the event that during any calendar year of the Term, Landlord determines that the actual Operating Expenses for such year will exceed the estimated Operating Expenses, Landlord may revise such estimate by written notice to Tenant (but only once per year)Tenant, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of the revised estimate, an amount equal to one monthly installment of such increase thereof multiplied by the number of months expired during such calendar year to and including the month of such payment; provided, however, in the event any line item of Landlord’s estimate for any calendar year increases by more than three percent (3%) over the prior calendar year, Landlord shall, at the time of the estimate revision, provide Tenant with reasonable substantiation of such increase. Subsequent installments shall be payable concurrently with the regular monthly Base Rent due for the balance of the calendar year and shall continue until the next calendar year’s 's estimate is rendered. Notwithstanding Within ninety (90) days following the foregoing, at Tenant’s requestend of each year, Landlord agrees to meet shall provide Tenant with Tenant to discuss Landlord’s budget and estimate a written statement of the actual total Operating Expenses for such year and there shall be an adjustment made to account for any difference between Tenant's Share of the actual and the estimated Operating Expenses for the previous year. If Tenant has overpaid the amount of Operating Expenses owing pursuant to this provision, Landlord shall, provided Tenant is not in default hereunder, credit such overpayment to Tenant's account. If Tenant has underpaid the amount of Operating Expenses owing pursuant to this provision, Tenant shall pay the total amount of such deficiency to Landlord as Additional Rent with the next payment of Base Rent due under this Lease following delivery of written notice of said deficiency from Landlord to Tenant. Landlord shall keep its books of account and records concerning Operating Expenses in compliance with generally accepted accounting principles and retain the same for two (2) years after the calendar year for which they were prepared. Unless Tenant objects in writing regarding specific discrepancies in the Operating Expense calculations for any calendar year within twelve (12)months after receipt of Landlord's final calculations for such calendar year’s Operating Expenses, Tenant shall be deemed to have approved the same and to have waived the right to object to such calculations.

Estimated Expenses. (i) Prior to Upon the Commencement Dateof the Lease Term, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term, Landlord shall estimate the annual Operating Expenses payable by Tenant pursuant to this provision, and Tenant shall pay to Landlord on the first day of each month in advance, one-twelfth (1/12th) of Tenant’s 's Share of such estimated amount. In the event that during any calendar year of the Term, Landlord determines that the actual Operating Expenses for such year will exceed the estimated Operating Expenses, Landlord may revise such estimate by written notice to Tenant (but only once per year)Tenant, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of the revised estimate, an amount equal to one monthly installment of such increase thereof plus the monthly shortfall from the new estimate over the prior estimate multiplied by the number of months expired during such calendar year to and including the month of such payment; provided, however, in the event any line item of Landlord’s estimate for any calendar year increases by more than three percent (3%) over the prior calendar year, Landlord shall, at the time of the estimate revision, provide Tenant with reasonable substantiation of such increase. Subsequent installments shall be payable concurrently with the regular monthly Base Rent due for the balance of the calendar year and shall continue until the next calendar year’s 's estimate is rendered. Notwithstanding Within ninety (90) days following the foregoing, at Tenant’s requestend of each year, Landlord agrees to meet shall provide Tenant with Tenant to discuss Landlord’s budget and estimate a written statement of the actual total Operating Expenses for such year and there shall be an adjustment made to account for any difference between Tenant's Share of the actual and the estimated Operating Expenses for the previous year. If Tenant has overpaid the amount of Operating Expenses owing pursuant to this provision, Landlord shall, provided Tenant is not in monetary default hereunder, credit such overpayment to Tenant's account. If Tenant has underpaid the amount of Operating Expenses owing pursuant to this provision, Tenant shall pay the total amount of such deficiency to Landlord as Additional Rent with the next payment of Base Rent due under this Lease following delivery of written notice of said deficiency from Landlord to Tenant. Landlord shall keep its books of account and records concerning Operating Expenses in compliance with generally accepted accounting principles and retain the same for two (2) years after the calendar year for which they were prepared. Unless Tenant objects in writing regarding specific discrepancies in the Operating Expense calculations for any calendar year within six (6) months after receipt of Landlord's final calculations for such calendar year’s Operating Expenses, Tenant shall be deemed to have approved the same and to have waived the right to object to such calculations.