Common use of Estimated Payments Clause in Contracts

Estimated Payments. Prior to the commencement of each calendar year of the Term, Landlord shall reasonably estimate the Additional Rent payable by Tenant pursuant to this provision and Tenant shall pay to Landlord on the first of each month in advance, one-twelfth (1/12) of Landlord’s estimated amount. After the end of each calendar year Landlord shall deliver to Tenant a statement of Additional Rent paid by Tenant and actual Operating Expenses incurred by Landlord during such calendar year (a “Reconciliation Statement”) and there shall be an adjustment made to account for any difference between the actual and the estimated Operating Expenses for the previous year. Landlord shall calculate such adjustment within ninety (90) days after the end of the applicable calendar year . If Tenant has overpaid the amount of Additional Rent owing pursuant to this provision, Landlord shall refund Tenant the amount of such overpayment to Tenant within one hundred twenty (120) days after the expiration of the applicable calendar year. If Tenant has underpaid the amount of Additional Rent owing pursuant to this provision, Tenant shall pay the amount of such underpayment to Landlord, as Additional Rent, within thirty (30) days after receipt of notice from Landlord of such underpayment.

Estimated Payments. Prior to the commencement of each calendar year of the Term, Landlord shall reasonably estimate the Additional Rent payable by Tenant pursuant to this provision and Tenant shall pay to Landlord on the first of each month in advance, one-twelfth (1/12) of Landlord’s estimated amount. After the end of each calendar year Landlord shall deliver to Tenant a statement of Additional Rent paid by Tenant and actual Operating Expenses incurred by Landlord during such calendar year (a “Reconciliation Statement”) and there shall be an Verus Lease v06 -16- February 2, 2005 (8:51 pm) adjustment made to account for any difference between the actual and the estimated Operating Expenses for the previous year. Landlord shall calculate such adjustment within ninety (90) days after the end of the applicable calendar year . If Tenant has overpaid the amount of Additional Rent owing pursuant to this provision, Landlord shall refund credit Tenant the amount of such overpayment when determining Tenant’s estimated operating expense payments for the following calendar year; provided, that in the case of an overpayment for the final Lease Year of the Term identified in the Basic Lease Information, Landlord shall refund such overpayment to Tenant within one hundred twenty ninety (12090) days after the expiration end of the applicable calendar yearTenant’s Lease Term. If Tenant has underpaid the amount of Additional Rent owing pursuant to this provision, Tenant shall pay the amount of such underpayment to Landlord, as Additional Rent, within thirty ten (3010) days after receipt of notice from Landlord of such underpayment.

Estimated Payments. Prior to the commencement of each calendar year of the Term, Landlord shall reasonably estimate the Additional Rent payable by Tenant pursuant to this provision and Tenant shall pay to Landlord on the first of each month in advance, one-twelfth (1/12) of Landlord’s 's estimated amount. After the end of each calendar year Landlord shall deliver to Tenant a statement of Additional Rent paid by Tenant and actual Operating Expenses incurred by Landlord during such calendar year (a “Reconciliation Statement”) and there shall be an adjustment made to account for any difference between the actual and the estimated Operating Expenses for the previous year. Landlord shall calculate such adjustment within ninety sixty (9060) days after the end of the applicable calendar year . If Tenant has overpaid the amount of Additional Rent owing pursuant to this provision, Landlord shall refund pay to Tenant the amount of such overpayment to Tenant within one hundred twenty thirty (12030) days after the expiration determination of the applicable calendar year. such overpayment.. If Tenant has underpaid the amount of Additional Rent owing pursuant to this provision, Tenant shall pay the amount of such underpayment to Landlord, as Additional Rent, within thirty (30) days after receipt of notice from Landlord of such underpayment.

Estimated Payments. Prior to the commencement of each calendar year of the Term, Landlord shall reasonably estimate the Additional Rent payable by Tenant pursuant to this provision and Tenant shall pay to Landlord on the first of each month in advance, one-twelfth (1/12) of Landlord’s 's estimated amount. After the end of each calendar year Landlord shall deliver to Tenant a statement of Additional Rent paid by Tenant and actual Operating Expenses incurred by Landlord during such calendar year (a “Reconciliation Statement”) and there shall be an adjustment made to account for any difference between the actual and the estimated Operating Expenses for the previous year. Landlord shall calculate such adjustment within ninety (90) days after the end of the applicable calendar year . If Tenant has overpaid the amount of Additional Rent owing pursuant to this provision, Landlord shall refund credit Tenant the amount of such overpayment when determining Tenant's estimated operating expense payments for the following calendar year, provided, that in the case of an overpayment for the final lease year of the Term, Landlord shall refund such overpayment to Tenant within one hundred twenty ninety (12090) days after the expiration end of the applicable calendar yearTenant's Lease Term. If Tenant has underpaid the amount of Additional Rent owing pursuant to this provision, Tenant shall pay the amount of such underpayment to Landlord, as Additional Rent, within thirty ten (3010) days after receipt of notice from Landlord of such underpayment.

Estimated Payments. Prior to the commencement of each calendar year of Landlord's ------------------ accounting years of the Term, Landlord shall reasonably estimate the Additional Rent payable by Tenant pursuant to this provision and Tenant shall pay to Landlord on the first of each month in advance, one-twelfth (1/12) of Landlord’s 's estimated amount. After At the end of each calendar year Landlord shall deliver to Tenant a statement of Additional Rent paid by Tenant and actual Operating Expenses incurred by Landlord during such calendar year (a “Reconciliation Statement”) and there shall be an adjustment made to account for any difference between the actual and the estimated Operating Expenses for the previous year. If, within thirty (30) days of receipt of Landlord's adjustment statement, Tenant requests a review of the records, Landlord shall calculate such adjustment within ninety (90) days after allow Tenant to review Landlord's records with respect to the end of the applicable calendar year Operating Expenses at any reasonable time. If Tenant has overpaid the amount of Additional Rent owing pursuant to this provision, Landlord shall refund credit Tenant the amount of such overpayment in determining Tenant's estimated payments for the following lease year; provided, that in the case of an overpayment for the final lease year of the Term, Landlord shall refund such overpayment to Tenant within one hundred twenty thirty (12030) days after the expiration end of the applicable calendar Landlord's accounting year. If Tenant has underpaid the amount of Additional Rent owing pursuant to this provision, Tenant shall pay the amount of such underpayment to Landlord, as Additional Rent, within thirty five (305) days after receipt of notice from Landlord of such underpaymentLandlord's written demand.