Operating Cost Pass-Throughs, Etc Clause Samples

Operating Cost Pass-Throughs, Etc. After the Closing, Seller and Buyer will cooperate to perform a “true up” of common area maintenance charges, real estate taxes, electric, utility, insurance and other operating charges and expenses (collectively “CAM”) and reasonably determine or cause to be determined whether the CAM has been overbilled or underbilled in accordance with the provisions of the Saatchi Lease and the method of billing previously followed by Seller. Such “true up” is to be completed by Seller and Buyer no later than May 1, 2011. If following such “true up” Buyer and Seller reasonably determine or cause to be determined that there has been: (i) an overbilling of CAM and an overbilled amount has been received, then Buyer shall reimburse or cause to be reimbursed such amount to Saatchi, and Seller shall pay to Buyer the portion of such reimbursement which is properly allocable to the period prior to the Adjustment Point based on days of ownership, net of costs of collection, if any, or (ii) an underbilling of CAM, then the additional amount shall be billed or caused to be billed by Buyer to Saatchi, and any amount received by Buyer, net of costs of collection, if any, to the extent properly allocable to periods prior to the Adjustment Point based on days of ownership shall promptly be paid by Buyer to Seller. With regard to any overbillings or underbillings, Seller shall have the right to review and reasonably approve Buyer’s calculations prior to any reimbursements or ▇▇▇▇▇▇▇▇ being sent to Saatchi, such approval not to be unreasonably withheld or delayed. In connection with any annual “true-up” of estimated CAM paid during the course of any fiscal year, Seller shall furnish to Buyer schedules and other information to be utilized in calculating and supporting amounts due in connection with such true-up for the portion of the fiscal year elapsed prior to the Closing Date (and/or, if applicable, the prior fiscal year). Buyer agrees to calculate amounts due on the basis of the schedules and information furnished by Seller (to the extent factually accurate) along with schedules and information used by Buyer for the portion of the fiscal year elapsed after the Closing Date. As used in this Section 15.4, the term “costs of collection” shall mean and include reasonable attorneys’ fees and other costs incurred by or on behalf of Seller or Buyer, as applicable, in collecting any CAM but shall not include the regular fees payable to any property manager for the Property or any payroll or...
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Operating Cost Pass-Throughs, Etc. Operating cost pass-throughs, utility charges, common area maintenance charges, administrative charges, percentage rentals, additional rentals and other retroactive rental escalations, sums or charges payable by Tenants which accrue as of the Proration Date but are not then due and payable or collected ("Pass-Throughs"), shall be prorated as of the Proration Date; provided, however, no payment or credit thereof shall be made to the applicable Seller unless and until Purchaser and/or Seller collects same from the Tenants. All such amounts payable by Tenants for the period accruing prior to the Proration Date shall belong to the applicable Seller and all such amounts payable by Tenants for
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Operating Cost Pass-Throughs, Etc. Operating cost pass-throughs, percentage-rentals, additional rentals and other retroactive rental escalations, sums or charges (“Additional Rents”) payable by Tenants which accrue to the Closing Date but are not then due and payable, shall be prorated as of the Closing Date; provided, however, no payment thereof shall be made to ▇▇▇▇▇▇ unless and until American Spectrum ▇▇▇▇▇▇ Properties collects such revenues from the Tenants. American Spectrum ▇▇▇▇▇▇ Properties shall use commercially reasonable efforts to collect such Additional Rents on Dunham’s behalf and shall pay such amounts to ▇▇▇▇▇▇ promptly upon receipt. ▇▇▇▇▇▇ shall also have the right to collect, after Closing, Additional Rents due to ▇▇▇▇▇▇ from Tenants, but shall not be entitled to commence any litigation or disposition or eviction proceeding against a Tenant. ▇▇▇▇▇▇ shall not be entitled to any such Additional Rents received by American Spectrum ▇▇▇▇▇▇ Properties from a Tenant after the Closing Date unless such Tenant is current in its obligations under its Tenant Lease for periods occurring from and after the Closing. Such Additional Rents collected by American Spectrum ▇▇▇▇▇▇ Properties, net of the reasonable costs of collection (including attorneys' fees), shall be applied first to any amount currently due, and, to the extent amounts are available, American Spectrum ▇▇▇▇▇▇ Properties shall pay to ▇▇▇▇▇▇ amounts accruing prior to the Closing, computing same on a per diem basis after amortizing them over the respective periods for which such amounts are payable. Payments of such prorated amounts collected by American Spectrum ▇▇▇▇▇▇ Properties shall be made to ▇▇▇▇▇▇ promptly after receipt and shall be accompanied by a report showing how same were calculated and such reasonably detailed supporting documentation evidencing the calculation of the amount due ▇▇▇▇▇▇.
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Operating Cost Pass-Throughs, Etc. Common area maintenance charges, property taxes, insurance and other operating cost pass-throughs payable by tenants of the Project (collectively, the "Operating Expenses"), shall be prorated together with rentals as of the Closing Date. As a post-Closing obligation of Seller, which Seller hereby confirms will survive the Closing, the annual reconciliation of actual Operating Expenses compared to estimated Operating Expenses collected from tenants for calendar year 2002 shall be completed by Seller on or before February 28, 2003. To the extent such reconciliations show that Seller over-collected and owes a refund or under-collected and is owed additional Operating Expenses contribution, Seller shall pay or ▇▇▇▇ for such amounts together with the reconciliation statement. Seller shall furnish Buyer with a copy of all reconciliation statements, all back-up expense information, and payments or bills at the same time as Seller sends the same to the tenants or, if Buyer requests, Seller's reconciliation statements may be sent together with any statement of Buyer adjusting the tenants' Operating Expenses estimates for 2003. If any Operating Expenses adjustments due from tenants relative to 2002 is paid to Buyer, Buyer shall promptly forward the same to Seller.
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Related to Operating Cost Pass-Throughs, Etc

  • Pass-Through Expenses (a) If a Work Order provides that a Pass-Through Expense is to be paid by LAUSD directly, Contractor will promptly provide LAUSD with the original third-party invoice for the Pass-Through Expense. If a Work Order provides that a Pass- Through Expense is to be paid by Contractor, Contractor will act as payment agent for LAUSD and will pay third-party charges comprising the Pass-Through Expense. For each Pass-Through Expense, Contractor will review the corresponding invoiced charges to determine whether the charges are proper and valid and should be paid, and will provide LAUSD with a statement to that effect. Where Contractor is paying a Pass-Through Expense on LAUSD's behalf, Contractor will provide LAUSD with a reasonable opportunity to review the applicable invoice. Following this review, Contractor will pay the amounts due and will invoice LAUSD for the charges. (b) Contractor will use commercially reasonable efforts to minimize Pass-Through Expenses. With respect to services or materials paid for on a Pass-Through Expense basis, LAUSD reserves the right to: (i) obtain these services or materials directly from a third party; (ii) designate the third party source for these services or materials; (iii) designate the particular services or materials (e.g., equipment make and model) that Contractor will obtain, provided that if Contractor demonstrates to LAUSD that this designation will have an adverse impact on Contractor’s ability to meet applicable service levels, this designation will be subject to Contractor’s approval; (iv) require Contractor to identify and consider multiple sources for these services or materials or to conduct a competitive procurement; and (v) review and approve the Pass-Through Expense for these services or materials before entering into a contract for these services or materials.

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Pass Through Fees Registry Operator shall pay to ICANN (i) a one-­‐time fee equal to US$5,000 for access to and use of the Trademark Clearinghouse as described in Specification 7 (the “RPM Access Fee”) and (ii) US$0.251an amount specified by ICANN not to exceed US$0.25 per Sunrise Registration and Claims Registration (as such terms are used in Trademark Clearinghouse RPMs incorporated herein pursuant to Specification 7) (the “RPM Registration Fee”). The RPM Access Fee will be invoiced as of the Effective Date of this Agreement, and Registry Operator shall pay such fee to an account specified by ICANN within thirty (30) calendar days following the date of the invoice. ICANN will invoice Registry Operator quarterly for the RPM Registration Fee, which shall be due in accordance with the invoicing and payment procedure specified in Section 6.1.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.