Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (“Annual Estimate”), which may be revised by Landlord from time to time during such calendar year based on Landlord’s reasonable estimate of increases in the Operating Expenses. Beginning on the Commencement Date, Tenant shall pay Landlord on or before the first day of each calendar month during the Term hereof an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.
Appears in 2 contracts
Samples: Lease Agreement (Arbutus Biopharma Corp), Lease Agreement (Arbutus Biopharma Corp)
Operating Expense Payments. Landlord shall deliver to Tenant a reasonable written estimate of Operating Expenses for each calendar year during the Term (“"Annual Estimate”"), which may be reasonably revised by Landlord from time to time during such calendar year based on Landlord’s reasonable estimate of increases in the Operating Expensesyear. Beginning on the Rent Commencement DateDate (but subject to the rental abatement described in Section 4(a)), Tenant shall pay Landlord on or before the first day of each calendar month during the Term hereof an amount equal to 1/12th of Tenant’s 's Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.
Appears in 2 contracts
Samples: Lease Agreement (Opgen Inc), Lease Agreement (Opgen Inc)
Operating Expense Payments. Landlord shall deliver to Tenant a reasonable written estimate of Operating Expenses for each calendar year during the Term (“Annual Estimate”), which may be revised by Landlord from time to no more than one time during such calendar year based on Landlord’s reasonable estimate of increases in the Operating Expensesyear. Beginning on the Rent Commencement DateDate but subject to the provisions of Section 4(a), Tenant shall pay Landlord on or before the first day of each calendar month during the Term hereof an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.
Appears in 2 contracts
Samples: Lease Agreement (Glycomimetics Inc), Lease Agreement (Glycomimetics Inc)