Common use of Operating Expenses Clause in Contracts

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 2 contracts

Samples: Commercial Lease (Karat Packaging Inc.), Commercial Lease (Karat Packaging Inc.)

AutoNDA by SimpleDocs

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expense. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Following development and construction of a second building on the property, as described in Subsection 1.4 above, Tenant's pro rata share set forth in Section 1.9 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of both the Tenant's Building and the second building, as the same may change from time to time.

Appears in 2 contracts

Samples: Fair Isaac & Company Inc, Fair Isaac & Company Inc

Operating Expenses. Tenant agrees to pay as Additional RentAll costs and expenses, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Leaseother than Real Estate Taxes, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears with respect to the total Rentable Area in Unit A operation and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share maintenance of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur Property shall be prorated on the ratio that the number of days from the commencement between Buyer and Seller as of the calendar year to Adjustment Time, including all fees and including charges for sewer, water, electricity, heat and air-conditioning service and other utilities; charges under those Service Contracts, if any, assigned and assumed by Buyer; and periodic fees payable under transferable licenses and permits for the Expiration Date bears to 365operation of any of the Property. Tenant Such costs and expenses shall have be prorated as of the right, at its own expense Adjustment Time such that Seller shall be responsible for all such costs and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant operating expenses attributable on an accrual basis to the Additional Rent payable under this section upon reasonable notice period prior to Landlord, but not more than once each calendar year; however, if the audit correctly discloses Adjustment Time and Buyer shall be responsible for all such costs and expenses attributable on an overpayment by Tenant of more than accrual basis to the greater of (a) five percent (5%) of Operating Expenses period from and after the Adjustment Time. If invoices or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay bills for the reasonable cost any of such audit. Tenant agrees to keep costs and expenses are unavailable on or before the results Closing Date, such costs and expenses shall be estimated and prorated at Closing based upon the latest information available (including prior bills and operating history) and a final and conclusive readjustment of any audit strictly confidential cost and pay any Additional Rent due under this section within ten days following expense item shall be made upon receipt of the actual invoice or accounting showing Additional Rent duexxxx, but in all events no later than the Final Proration Adjustment as provided in Section 6.9.8 below. Buyer shall take all commercially reasonable steps to effectuate the transfer to Buyer's name as of the date of Closing of all utilities which are in Seller's name, and where necessary, open a new account in Buyer's name and post deposit with the utility companies. Buyer and Seller shall cooperate to have all utility meters read by the appropriate utility companies as of the date of Closing. If Buyer and Seller are unable to obtain such final meter readings as of the Closing Date from all applicable meters, utility expenses related to such meters shall be estimated at Closing based upon the operating history of the Property subject to the final adjustment in all events no later than the Final Proration Adjustment as provided in Section 6.9.8 below. Seller shall be entitled to recover any and all deposit held by any utility companies for utilities in any Seller's name as of the date of Closing.

Appears in 2 contracts

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Steadfast Apartment REIT, Inc.), Purchase and Sale Agreement and Joint Escrow Instructions (Steadfast Apartment REIT, Inc.)

Operating Expenses. Tenant agrees to pay The Sublessee shall pay, as Additional RentRent hereunder, (except during the applicable Free Rent Period) Tenant’s pro rata share Sublessee's Pro Rata Share of the increase, if any, in the actual Operating Expenses (as hereinafter defined) for of the Leased PremisesProperty over the Operating Base. For purposes of this Lease, Tenant’s pro rata share Payment of Operating Expenses shall be paid by Tenant made as follows: Sublessor shall make a good faith estimate of Sublessee's Pro Rata Share of the increase in Operating Expenses over the proportion that Operating Base at the Rentable Area in start of each calendar year (defined as January 1st through December 31st), and Sublessee shall pay to Sublessor, on the Leased Premises (as set forth hereinabove) bears first day of the calendar year and on the first day of each calendar month thereafter, an amount equal to the total Rentable Area in Unit A estimated Pro Rata Share for such calendar year or part thereof divided by the number of months therein. Not more than semi-annually, Sublessor may estimate and Landlord re-estimate the Additional Rent (Operating Expenses and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Real Estate Taxes) to be due by Subtenant and deliver a copy of the estimated Operating Expenses for each calendar yearestimate or re-estimate to Sublessee. Thereafter, which amount the monthly installments of Additional Rent payable by Sublessee shall be appropriately adjusted each in accordance with the estimations so that, by the end of the calendar year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionquestion, Sublessee shall have paid all of the Additional Rent as estimated by Sublessor. Within four (4) months following the close By April 1 of each calendar year, Landlord or as soon thereafter as practicable, Sublessor shall provide Tenant an accounting showing in reasonable detail all computations furnish to Sublessee a statement of Operating Expenses due under this section including. In for the event the accounting shows that the total previous year, and of the monthly payments made by Tenant exceeds taxes for the amount of previous year (the "Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refundand Tax Statement"). In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for If the Operating Expenses due as Additional Rentand Tax Statement reveals that Sublessee paid less for Operating Expenses than the actual amount for the year for which such statement was prepared, or less than its actual share of taxes for such year, then Sublessee shall promptly pay Sublessor such deficiency. If this Lease shall terminate on a day other the Sublessee paid more than the last day of actual amount for the year for which such statement was prepared, Sublessee shall receive a credit in such amount for the next calendar year, unless such overpayment occurs during the amount last year of any Additional Rent payable by Tenant applicable to the year Term, in which event Sublessor shall reimburse Sublessee for such termination shall occur shall be prorated on the ratio that the number of days from the commencement excess payment immediately upon expiration of the calendar year to and including the Expiration Date bears to 365Sublease. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to Sublessee may audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of or review such Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the taxes at Sublessee's sole cost and expense at reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duetimes.

Appears in 1 contract

Samples: Multicell Technologies Inc.

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during The amount of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) above represents Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for the calendar year in which the Term commences. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease. By March 31st of each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with a statement of Operating Expenses for the preceding calendar year or part thereof. Within 30 days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. If Tenant does not give Landlord notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in dispute, Tenant shall be deemed to have waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to various types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord may make a reasonable adjustment based on occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as though the Building had been fully occupied (this provision is intended to fully allocate to Tenant those services provided to Tenant, but in no event shall this provision operate in a manner that would require Tenant to pay for any services provided to or properly chargeable to any vacant leaseable space in the Building). In the event that Landlord contests any taxes, the net refunds received by Landlord for any period included in the Operating Expenses paid by Tenant shall be credited against the Operating Expenses due from Tenant during the immediately subsequent period, except that in the event that any such refund is paid during the final lease year of the Term (or any renewal Term, if applicable), then upon the expiration of the Term (or renewal Term, if applicable), Landlord shall promptly pay to Tenant any net refund actually received by Landlord after deducting therefrom the costs of contesting Taxes. Tenant shall not initiate any action to reduce or contest real estate taxes on the Property. However, Landlord agrees to initiate such an action upon Landlord’s reasonable determination that the assessor has overvalued the Property, and that a contest is likely to be successful. If Tenant so requests, Landlord agrees to consult with and cooperate with Tenant in evaluating the merits of initiating a tax contest. Tenant shall be entitled at any reasonable time during regular business hours, but no more than once in each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined after giving to Landlord at least ten (10) business days prior written notice, to inspect in Landlord’s reasonable discretionbusiness office all Landlord’s records necessary to satisfy itself that Annual Operating Expenses has been correctly determined and allocated to Tenant, for the calendar year immediately preceding the year during which such notice is given, and to obtain an audit thereof by an independent certified public accountant (selected by Tenant with Landlord’s written consent, which shall not be withheld unreasonably) to determine the accuracy of Landlord’s certification of the amount of Annual Operating Expenses charged Tenant, provided, however, that Tenant shall make all payments of Annual Operating Expenses without delay, and that Tenant’s obligation to pay such Annual Operating Expenses shall not be contingent on any such right. Within four If it is determined that Tenant’s liability for Annual Operating Expenses for either such calendar year is less than ninety-five percent (495%) months following the close of each that amount which Landlord previously certified to Tenant for such calendar year, Landlord shall provide pay to Tenant an accounting showing in reasonable detail all computations the cost of such audit (provided, however, that Landlord shall not be required to pay the cost of any audit based on a contingency fee or percentage of the amount recovered for Tenant) and regardless of such percentage Landlord shall refund promptly to Tenant the amount of the Annual Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made paid by Tenant for such calendar year which exceeds the amount of for which Tenant actually is liable, as determined following such audit. If it is determined that Tenant’s liability for Annual Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant for either such calendar year is less more than the amount of Operating Expenses due by which Landlord previously certified to Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a such calendar year, Tenant shall promptly pay to Landlord (net of the cost to Tenant of the audit) the amount of the Annual Operating Expenses underpaid by Tenant, as determined following such audit. Except as provided above, Tenant shall bear the total cost of any Additional Rent payable inspection or audit performed by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365or for Tenant. Tenant shall have the rightkeep, at its own expense and within six (6) months after Tenant receives the accounting described aboveshall cause Tenant’s auditor to keep, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any such audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueinspection confidential.

Appears in 1 contract

Samples: Lease Agreement (Ev3 Inc.)

Operating Expenses. In the event Landlord's Operating Expenses as that term is defined in Section 2.3 herein, for the building and/or project of which the Premises are a part shall, in any calendar year during the Term, exceed the sum of $ per square foot (the "Expense Stop"), Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s 's pro rata rate share of such excess Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) nine months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses Additional Rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. Notwithstanding any other provision in this Agreement, during the year in which the Agreement terminates, Landlord, prior to the Expiration Date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses based upon the previous year's Operating Expenses. If this Lease Agreement shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on to the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. In the event Tenant shall wishes to dispute any annual accounting of Operating Expenses rendered by Landlord, Tenant shall, within thirty (30) days after Landlord's delivery of such accounting, notifying Landlord that Tenant wishes to have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to performed an audit of Landlord’s 's books relevant to the Additional Rent payable under this section upon reasonable notice accounting by any one of the major national accounting firms, or by any other public accounting firm of reasonably comparable quality and stature, and Tenant shall deliver a written copy of such audit to Landlord within thirty (30) days following such notification. If Tenant fails to elect to audit Landlord's books within said thirty (30) days following such notification, but Tenant shall conclusively be deemed to have accepted the accuracy of the accounting delivered and in such event Tenant shall be deemed to have waived any right thereafter to question the accuracy of such accounting. If Tenant chooses to perform an audit and Landlord does not more than once each calendar year; howeverdispute the results of such audit, if the results of such audit correctly discloses shall be binding on Landlord and Tenant. If Landlord disputes Tenant's audit and the parties are unable to resolve the dispute, the parties shall select an overpayment by Tenant independent third party accountant to select which of more than the greater of (a) five percent (5%) two determinations of Operating Expenses or (b) Five Hundred is most nearly correct and No/100 Dollars ($500.00)if the parties are unable to agree on such third party accountant, Landlord the third party accountant shall pay for be selected by the reasonable cost American Arbitration Association from a list of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due3 candidates submitted by each party.

Appears in 1 contract

Samples: Industrial Tenancy Agreement

Operating Expenses. If the Operating Expenses for the Property, in any calendar year during the Term, exceed the Operating Expenses for the Base Year, Tenant agrees to pay as Additional Rentadditional monthly rent the Proportionate Share of such excess Operating Expenses, as estimated by Landlord from time to time. During any partial calendar year of the Term (except during such as the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for year in which the Leased Premises. For purposes of this LeaseCommencement Date occurs and the year in which the Terminates), Tenant’s pro rata share Proportionate Share of Operating Expenses shall be paid by Tenant in adjusted based upon the proportion that actual number of days contained within the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that Term during such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each partial calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close By April 30th of each calendar year, Landlord shall will provide Tenant an accounting itemized statement (“Additional Rent Statement”) showing in reasonable detail all computations additional rent due (or any overpayments made) under this Section and Tenant (or Landlord, as the case may be) shall pay such amount within thirty (30) days after receipt of Operating Expenses such statement; provided, however, in no event shall Tenant be released of its obligation for such additional rent if Landlord fails to send Tenant a statement within the time specified above. In no event shall the Base Rent or other sums due under this section including. In Lease ever be reduced due to the event the accounting shows that the total operation of the monthly payments made by Tenant exceeds the amount of this Section 2.3 or to Operating Expenses due by Tenant under this section, being less for the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less Property than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as for the Base Year. Each Additional RentRent Statement furnished by Landlord to Tenant shall be conclusive and binding upon Tenant unless, within sixty (60) days after receipt of such Additional Rent Statement (“Dispute Period”), Tenant shall notify Landlord in writing that it disputes the correctness of such statement, stating the reason for such dispute. If this Lease Pending the determination of such dispute, Tenant shall terminate on a day other than timely pay the last day of a calendar year, the full amount of any the Additional Rent payable by Tenant applicable to in accordance with each such statement that Tenant is disputing. In the year in which such termination shall occur shall be prorated on event Tenant gives timely notice of a dispute within the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant Dispute Period, Tenant, or its authorized agent, at Tenant’s expense, shall have the right, upon reasonable advance notice and during normal business hours, to inspect the books and records of Landlord applicable to the determination of an statement of any additional rent payable by Tenant for the purpose of verifying in good faith the information contained in such Additional Rent Statement for a period of up to one year after the receipt of such statement by Tenant. Landlord shall maintain at its own expense office or the office of its managing agent full, complete and within six (6) months after Tenant receives the accounting described aboveaccurate books and records prepared in accordance with prudent building management practices with respect to Operating Expenses, and shall retain such records with respect to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year for a period not less than two (2) years following delivery of the annual statement for such year; however. Upon completion of the audit and/or inspection, if the audit correctly discloses an overpayment by Tenant calculation of more than the greater of (a) five percent (5%) Tenant’s Proportionate Share of Operating Expenses Expenses, indicates that Tenant overpaid, or (b) Five Hundred and No/100 Dollars ($500.00)underpaid, rent for any audited calendar year, Landlord shall pay for Tenant, or Tenant shall pay Landlord, as applicable, upon thirty (30) days prior written notice, an amount equal to such overpayment or underpayment. In no event shall the reasonable cost form of such audit. Tenant agrees to keep the results payment be as a credit against rent next due or, upon expiration of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLease.

Appears in 1 contract

Samples: Office Lease Agreement (Heartland Payment Systems Inc)

Operating Expenses. Tenant agrees Beginning on the first anniversary of the Commencement Date, Sublessee shall pay to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata Sublessor its proportionate share of any increase in “Operating Expenses Payments” (as hereinafter defined) such term is defined in Section 2.05 of the Lease), provided the Base Operating Year shall be calendar year 2007. In addition, Sublessee shall pay to Sublessor its proportionate share of Tax Payments (as such term is defined in Section 2.04 of the Lease), provided the Base Tax Year shall be fiscal year 2007/2008. Sublessee’s proportionate share shall be calculated by multiplying the total of any increase in Operating Payments and Tax Payments by a fraction the numerator of which shall be the square footage of the Subleased Premises and the denominator of which shall be the square footage of the Premises under the Lease (as such Premises may be expanded pursuant to Sublessor’s exercise of its rights under the Lease); it being understood that Sublessee’s proportionate share of Taxes and Operating Payments shall not exceed the proportionate share of Taxes and Operating Payments which would have been payable by Sublessee if Sublessee had a direct lease with Landlord taking into account the changes in the Base Operating Year and Tax Year set forth above. In addition, Sublessee shall reimburse Sublessor for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant electrical costs consumed in the proportion that Subleased Premises as determined by a submeter measuring only the Rentable Area electrical consumption in the Leased Subleased Premises within fifteen (as set forth hereinabove15) bears days of receipt of an invoice therefore. Sublessor shall promptly provide to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Sublessee copies of the estimated Operating Expenses for each calendar yearall operating expense statements, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in including back-up detail, received by Sublessor from Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant reconciliations, refunds or additional payments of operating expenses applicable to the year in which such termination shall occur Subleased Premises during the term of this Sublease, Sublessee shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the rightresponsible for paying its proportionate share or receiving a proportionate credit, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueas applicable.

Appears in 1 contract

Samples: Sublease Agreement (Thomas Weisel Partners Group, Inc.)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1997 Base Year Operating Expenses, including taxes and insurance per square foot, taxes, and insurance. Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent lessee's pro rata share of Operating Expenses such excess operating expenses. Lessee occupies 17,920 square feet of space in a project totaling 140,762 square feet (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (10012.73%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Spacehab Inc \Wa\)

Operating Expenses. Tenant agrees (a) Notwithstanding anything to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for contrary in the Leased Premises. For purposes of this Lease, Tenant’s pro rata share as amended hereby, effective as of Operating Expenses the Extended Term Commencement, Section 3(e) of the Lease shall be paid by of no further force and effect. Commencing on the Extended Term Commencement Date, Tenant shall pay Landlord in accordance with the proportion that the Rentable Area in the Leased Premises (as terms and conditions set forth hereinabove) bears to herein, throughout the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Extended Term, as additional rental, Tenant’s 's pro rata share of the estimated Operating Expenses for amount by which the amount of operating expenses (as defined in Section 3(f) of the Lease) with respect to any given calendar year exceed $0.15 per square foot. Prior to or promptly after the beginning of each calendar year during the Extended Term, Landlord shall estimate the total amount of operating expenses to be paid by Tenant during such calendar year, which amount and Tenant shall be adjusted pay to Landlord one-twelfth (1/12) of such sum on the first day of each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretioncalendar month during each such calendar year, or part thereof, during the Extended Term. Within four (4) months following a reasonable time after the close end of each calendar year, Landlord shall provide submit to Tenant an accounting showing a statement of the actual amount of operating expenses for such calendar year, and the actual amount owed by Tenant, and within thirty (30) days after receipt of such statement, Tenant shall pay any deficiency between the actual amount owed and the estimates paid during such calendar year, or in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds overpayment, Landlord shall either, at Landlord's option, credit the amount of Operating Expenses due such overpayment toward the next installment of operating expenses and/or Base Rental owed by Tenant under this sectionor refund such overpayment to Tenant; provided, however, any overage due Tenant during the accounting last year of the Extended Term shall be accompanied by a refundrefunded to Tenant. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.The obligations in

Appears in 1 contract

Samples: Lease Agreement (Marlton Technologies Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during The amount of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) above represents Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for each the calendar year, year in which the Term commences. Landlord may adjust such amount shall be adjusted from time to time if the estimated Annual Operating Expenses increase or decrease. By April 30th of each year based upon anticipated Operating Expenses determined in (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s reasonable discretion. Within four (4) months following option, after a sale of the close of each calendar yearProperty), Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section includingfor the preceding calendar year or part thereof. In the event the accounting shows that the total Within 30 days after delivery of the monthly payments made by statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable overpayment or deficiency then due from one to the year other. If Tenant does not give Landlord notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in which such termination shall occur dispute, Tenant shall be prorated on deemed to have waived the ratio that right to contest the number statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of days this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time the commencement method of the calendar year to computing and allocating Operating Expenses, including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant method of more than the greater of (a) five percent (5%) of allocating Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)to various types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord shall pay make a reasonable adjustment based on occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as though the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueBuilding had been fully occupied.

Appears in 1 contract

Samples: Lease Agreement (Uroplasty Inc)

Operating Expenses. If the Operating Expenses for any Comparative Year shall be greater than the Operating Expenses for the Base Year, Tenant agrees shall pay to Owner, as Additional Rent for such Comparative Year, in the manner hereinafter provided, an amount equal to the Percentage of the excess (the “Expense Payment”). Following the expiration of each Comparative Year, Owner shall submit to Tenant a statement setting forth the Operating Expenses for the preceding Comparative Year, the expenses for the Base Year, and the Expense Payment, if any, due to Owner from Tenant for such Comparative Year. If such statement shows an Expense Payment due from Tenant to Owner with respect to the preceding Comparative Year then (i) Tenant shall make payment of any unpaid portion within ten (10) days after receipt of such statement; and (ii) Tenant shall also pay to Owner, as Additional Rent, within ten (except during 10) days after receipt of such statement, an amount equal to the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) product obtained by multiplying the total Expense Payment for the Leased Premises. For purposes preceding Comparative Year by a fraction, the denominator of this Lease, Tenant’s pro rata share of Operating Expenses which shall be paid by Tenant in twelve (12) and the proportion that numerator of which shall be the Rentable Area in number of months of the Leased Premises (as set forth hereinabove) bears current Comparative Year which shall have elapsed prior to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share first day of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months month immediately following the close rendition of each calendar yearsuch statement; and (iii) Tenant shall also pay to Owner, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than , commencing as of the last first day of the month immediately following the rendition of such statement and on the first day of each month thereafter until a calendar yearnew statement is rendered, 1/12th of the amount of any Additional Rent payable by Tenant applicable total Expense Payment for the preceding Comparative Year. The payments required to the year in which such termination shall occur be made under (ii) and (iii) above shall be prorated on credited toward the ratio that the number of days Expense Payment due from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of then current Comparative Year, subject to adjustment as and when the statement for such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duecurrent Comparative Year is rendered by Owner.

Appears in 1 contract

Samples: Agreement of Lease

Operating Expenses. In the event Landlord's Operating Expenses ------------------ shall, in any calendar year during the Term, exceed the sum of the actual operating costs for the base year 1992 (the "Expense Stop"), Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s 's pro rata share of such excess Operating Expenses (as hereinafter defined) for the Leased PremisesExpenses. For purposes of this Lease, Tenant’s 's pro rata share of excess Operating Expenses shall be paid 4.061%, said percentage determined by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to dividing the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)square footage of the Premises by the total square footage of the Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated excess Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated excess Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord shall use reasonable efforts to provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses Additional Rent due under this section includingwithin one hundred twenty (120) days of the close of each calendar year; provided, however, Landlord's failure to so provide an accounting within one hundred twenty (120) days shall in no way bar Landlord from providing Tenant any such accounting at a later date, nor limit Tenant's liability for its pro rata share of excess Operating Expenses. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent due by Tenant under this section, Landlord shall credit any such amount against the accounting shall be accompanied by a refundBase Rent payment next coming due. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. Notwithstanding any other provision in this Agreement, during the year in which the Agreement terminates, Landlord, prior to the Expiration Date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses based upon the previous year's Operating Expenses. If this Lease Agreement commences on a day other than the first day of a calendar year, the amount of any such excess Operating Expenses payable by Tenant applicable to the year in which the Terms commences shall be prorated on the ratio that the number of days from the Commencement Date to the end of the calendar year bears to 365. If this Agreement shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent such excess Operating Expenses payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any an Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due. The provisions of this Agreement concerning the payment of Additional Rent shall survive the expiration of earlier termination of the Term. Notwithstanding anything to the contrary contained herein, in the event the Building is not at least ninety-five percent (95%) occupied at all times during any calendar year, appropriate adjustments shall be made by Landlord so as to determine excess Operating Expenses as though the Building had been ninety-five percent (95%) occupied at all times in such calendar year.

Appears in 1 contract

Samples: Letter Agreement (Argosy Education Group Inc)

Operating Expenses. Tenant agrees In addition to pay Base Rent and other sums due under the Lease, the triple net Operating Expenses per rentable square foot per annum are estimated as Additional Rentfollows: Taxes, Insurance and Common Area Maintenance $1.63 per rentable square foot per annum (except during i.e., $6,520.00 monthly) Section 1(b) of Exhibit C of the applicable Free Rent Period) Tenant’s pro rata share Original Lease is deleted and replaced with the following: “Operating Expenses are comprised of “Controllable Expenses” and “Non-Controllable Expenses.” Controllable Expenses are those components of Operating Expenses (as hereinafter defined) for the Leased Premisesthat are not related to taxes, insurance, snow removal, utilities, and/or collectively-bargained union wages. For purposes of this Lease, Tenant’s pro rata share Non-Controllable Expenses are those components of Operating Expenses that are not Controllable Expenses. Notwithstanding any provision of the Lease to the contrary, for the purpose of calculating Tenant’s Proportionate Share of Operating Expenses each calendar year through December 31, 2010, the items of Controllable Expenses shall be paid by Tenant in deemed not to increase more than ten percent (10%) per calendar year (determined on a compounding basis throughout said Term of the proportion Lease) from each prior calendar year (calculated on a per square foot basis to take into account deletion of the Give-Back Premises on the Effective Date and annualized to account for partial years); provided, however, that no item of Operating Expenses other than Controllable Expenses shall be subject to the foregoing limitation; and provided further, that the Rentable Area in percentage increase shall be determined on a cumulative basis such that if the Leased Premises average increase for all expired calendar years and the next calendar year is less than ten percent (10%), then the percentage increase for the next calendar year may exceed ten percent (10%) so long as the average increase for all expired calendar years and the next calendar year do not exceed ten percent (10%) per calendar year. There shall be no cap on Non-Controllable Expenses. The above amounts are estimates only and subject to actual costs and expenses. The payments set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount above shall be adjusted due and payable in equal monthly installments, each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following such monthly installment due and payable on the close first day of each calendar yearmonth, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionadvance, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to without demand and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses without setoff or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duededuction whatsoever.

Appears in 1 contract

Samples: Lease (Sport Supply Group, Inc.)

Operating Expenses. Tenant agrees In addition to pay as Additional the payment of Base Rent, during each calendar year of the Term following the calendar year 2019 (except during the applicable Free Rent Period“Base Year”) Tenant shall pay to Landlord as additional rent Tenant’s pro rata share Share of any increase in Operating Expenses paid or incurred by Landlord during such calendar year (as hereinafter defined“Increased Operating Expenses”) which are in excess of the Operating Expenses paid or incurred by Landlord for the Leased PremisesBase Year. For purposes Landlord may, at or after the start of any calendar year subsequent to the Base Year, notify Tenant of the amount which Landlord estimates will be Tenant’s Share of the Increased Operating Expenses for such calendar year, and Tenant shall pay to Landlord monthly in advance, at the time and place that monthly Base Rent is payable under this Lease, one-twelfth (1/12) of such estimate. Landlord may, from time to time, reasonably revise Landlord’s estimate of Increased Operating Expenses by written notice to Tenant and Tenant shall pay Tenant’s pro rata share Share based upon such revised estimate. Landlord shall provide Tenant with an annual Statement (“Statement”) of the actual Increased Operating Expenses shall be incurred or paid by Landlord for each calendar year subsequent to the Base Year within one hundred twenty (120) days after the end of each calendar year, or as soon thereafter as reasonably practical. If Tenant’s Share of Increased Operating Expenses as shown on such Statement is greater or less than the total estimated amounts actually paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears with respect to the total Rentable Area calendar year covered by such Statement, then within thirty (30) days after receipt of the Statement, Tenant shall pay in Unit A and cash any sums owed to Landlord and or, if applicable, Tenant agree that shall receive a credit against Tenant’s Share of Increased Operating Expenses next accruing for any sum overpaid by Tenant. Following expiration of the calendar year in which the Term expires or during which this Lease is terminated, Landlord shall give a final Statement to Tenant for such pro rata share shall equal portion of the calendar year within one hundred percent twenty (100%)120) days after the end of the Term. If Tenant’s Share of any Increased Operating Expenses as shown on the final Statement is greater or less than the total amount of Increased Operating Expenses actually paid by Tenant with respect to the calendar year covered by the final Statement, then within thirty (30) days after the delivery of the Statement to Tenant the appropriate party shall pay to the other party any sums owed. Landlord may invoice Tenant monthly for Tenant’s and Tenant shall pay its pro rata share of the estimated such Increased Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionwithin ten (10) days of invoice. Within four (4) months following the close The obligations of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by and Tenant under this section, Section shall survive the accounting shall be accompanied by a refund. In the event the accounting shows that the total expiration or sooner termination of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLease.

Appears in 1 contract

Samples: Office Lease (Vickers Vantage Corp. I)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio ration that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or of accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the demoninator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Digital River Inc /De

Operating Expenses. It is hereby agreed that commencing January 1, 2014, Tenant agrees shall pay to pay Landlord as additional rent during the balance of the term hereof, 2.54% (“Tenant’s Pro Rata Share”) of the Operating Expenses (defined below) for the calendar year in excess of the Operating Expenses for the base year of 2013 (the “Base Year”), as estimated by Landlord, payable monthly, at the rate of one-twelfth (1/12) thereof, on the same date and at the same place Base Rent is payable, with an adjustment to be made between the parties at a later date as hereinafter provided (“Additional Rent”). As soon as practicable following the end of any calendar year, (except during but in no event later than April 30 of each year, Landlord shall submit to Tenant a statement in reasonable detail describing the applicable Free Rent Period) computations of the Operating Expenses setting forth the exact amount of Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisescalendar year just completed (the “Statement”), and the difference, if any, between the actual Tenant’s pro rata share of Operating Expenses for the calendar year just completed and the amount of Tenant’s pro rata share of expenses actually paid by Tenant to Landlord. For purposes Landlord’s failure to deliver to Tenant the Statement by any particular date shall in no way serve as a waiver of Landlord’s rights under this Paragraph. To the extent that the Tenant’s actual pro rata share of Operating Expenses for the period covered by the Statement is higher than the Tenant’s pro rata share of Operating Expenses which Tenant previously paid during the calendar year just completed, Tenant shall pay to Landlord such balance within thirty (30) days following receipt of the Statement from Landlord. To the extent that the Tenant’s actual pro rata share of Operating Expenses for the period covered by the Statement is less than the Tenant’s pro rata share of Operating Expenses which Tenant previously paid during the calendar year just completed, Landlord shall credit the excess against any estimated Operating Expenses next becoming due from Landlord under the Lease, except in the case of the last year of the Lease, in which case such excess shall be refunded to Tenant in cash within thirty (30) days following delivery of the Statement from Landlord. If the Lease term hereunder covers a period of less than a full calendar year during the last calendar year of the term hereof, Tenant’s pro rata share of Operating Expenses for such partial year shall be paid calculated by Tenant proportionately reducing the Operating Expenses for the Base Year to reflect the number of months in such year during which Landlord leased the Premises (the ‘‘Adjusted Base Operating Expenses”). The Adjusted Base Operating Expenses shall then be compared with the actual Operating Expenses for said partial year to determine the amount, if any, of any increases in the proportion that actual Operating Expenses for such partial year over the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Adjusted Base Operating Expenses. Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for pay Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionany such increases within ten (10) days following receipt of notice thereof. Within four (4) months following the close The obligations of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations to refund excess payments of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds in the final year of the Lease, and of the Tenant to pay any deficiency with respect to the amount of Operating Expenses due paid by Tenant under this sectionit during the final year of the Lease, will survive the expiration or termination of the Lease. If Landlord selects an accrual accounting basis for calculating Operating Expenses, Operating Expenses shall be accompanied by a refunddeemed to have been paid when such expenses have accrued in accordance with generally accepted accounting principles. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this sectionUpon fifteen (15) days prior notice, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, right to audit Landlord’s books relevant with respect to the Additional Rent payable under this section upon reasonable notice Operating Expenses charged to Landlord, but not more than once each calendar year; however, if Tenant. If the results of the audit correctly discloses establish that there has been an overpayment by overcharge to Tenant of more than the greater of (a) five seven and one-half percent (57.5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)the actual amount owed by Tenant, then Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Aegis Identity Software, Inc.)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.9 shall be equal to a percentage based upon a fraction, the numerator of which is the net rentable area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Terms (Bio Vascular Inc)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) Tenant’s Lessee's pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor's Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set-off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundcredited against the next required payment of base rent. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and expense, to audit Lessor's books relevant to the additional rent payable under this Section. With respect to such audit, Lessee 1) may review Lessor's books during office hours, 2) must perform such audit at the location of Lessor's books, 3) must request such audit within six (6) months after Tenant receives of receipt of its annual reconciliation of Operating Expenses, 4) must deliver to Lessor a copy of the accounting described aboveresults of such audit, to 5) may not audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not same calendar year more than once each calendar year; howeverone time. If, if as a result of such audit, it is determined that the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses have been overstated by 3% or (b) Five Hundred and No/100 Dollars ($500.00)more, Landlord Lessor shall pay be required to reimburse Lessee for the reasonable cost costs of such audit. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (American Caresouce Holdings, Inc.)

Operating Expenses. Tenant agrees In addition to pay as Additional the Base Rent, (except during the applicable Free Rent Period) Tenant’s Tenant shall pay a pro rata share of operating expenses of the real estate of which the Premises are part, parking areas, and grounds ("Real Estate"). "Operating expenses" shall mean all costs of maintaining and operating the Real Estate, including but not limited to all taxes and special assessments levied upon the Real Estate, fixtures, and personal property used by Landlord at the Real Estate, all insurance costs, all costs of labor, material and supplies for maintenance, repair, replacement, and operation of the Real Estate, including but not limited to line painting, lighting, snow removal, landscaping, cleaning, depreciation of machinery and equipment used in such maintenance, repair and replacement, and management costs, including Real Estate superintendents. Operating Expenses (shall not include property additions and capital improvements to the real estate, alterations made for specific tenants, depreciation of the Real Estate, debt service on long term debt or income taxes paid by Landlord. "Tenant's pro rata share" shall mean the percentage determined by dividing the square feet of the Premises as hereinafter defined) for the Leased Premisesshown in Paragraph 1, by 30,151 square feet. For purposes of this Lease, Tenant’s 's pro rata share of the Operating Expenses shall be determined on an annual basis for each calendar year ending on December 31 and shall be pro rated for the number of months Tenant occupied the Premises if Tenant did not occupy the Premises the full year. Tenant shall pay One Thousand Six Hundred Ninety and 06/100 Dollars ($1,690.06) per month, on the first of each month in advance with rent for Tenant's estimated pro rata share of the Operating Expenses. Landlord may change this amount at any time upon written notice to Tenant. At the end of each year, an analysis of the total year's Operating Expenses shall be presented to Tenant and Tenant shall pay the amount, if any, by which the Tenant's pro rata share of the Operating Expenses for the year exceeded the amount of the estimated Operating Expenses paid by Tenant . Said amount shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises to Landlord within thirty (as set forth hereinabove30) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for days after Tenant’s pro rata share 's receipt of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section includingstatement. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day terminates at any time other than the last day of a the year, the excess Operating Expenses shall be determined as of the date of termination . If Tenant's payments of estimated Operating Expenses exceed the amount due Landlord for that calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the rightLandlord shall, at its own expense and within six (6) months after option, provided Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable is not then in default under this section upon reasonable notice Lease, apply the excess as a credit against Tenant's other obligations under this Lease or promptly refund such excess to Landlord, but not more than once each calendar year; however, Tenant if the audit correctly discloses an overpayment by Tenant term of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)this Lease has already expired, Landlord shall pay for the reasonable cost of such audit. Tenant agrees in either case without interest to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTenant.

Appears in 1 contract

Samples: Business Property Lease (I Trax Inc)

Operating Expenses. Tenant In the event Landlord's Operating Expenses as that term is defined in Section 2.3 herein, for the building and/or project of which the Premises are a part shall, in any calendar year during the Term, exceed the sum of $ per square foot (the "Expense Stop"), Xxxxxx agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s Xxxxxx's pro rata rate share of such excess Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord may invoice Tenant monthly for Tenant’s Xxxxxx's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) nine months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses Additional Rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. Notwithstanding any other provision in this Agreement, during the year in which the Agreement terminates, Landlord, prior to the Expiration Date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses based upon the previous year's Operating Expenses. If this Lease Agreement shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on to the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. In the event Tenant shall wishes to dispute any annual accounting of Operating Expenses rendered by Landlord, Tenant shall, within thirty (30) days after Landlord's delivery of such accounting, notifying Landlord that Tenant wishes to have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to performed an audit of Landlord’s 's books relevant to the Additional Rent payable under this section upon reasonable notice accounting by any one of the major national accounting firms, or by any other public accounting firm of reasonably comparable quality and stature, and Tenant shall deliver a written copy of such audit to LandlordLandlord within thirty (30) days following such notification. If Tenant fails to elect to audit Xxxxxxxx's books within said thirty (30) days following such notification, but Tenant shall conclusively be deemed to have accepted the accuracy of the accounting delivered and in such event Tenant shall be deemed to have waived any right thereafter to question the accuracy of such accounting. If Xxxxxx chooses to perform an audit and Landlord does not more than once each calendar year; howeverdispute the results of such audit, if the results of such audit correctly discloses shall be binding on Landlord and Tenant. If Landlord disputes Xxxxxx's audit and the parties are unable to resolve the dispute, the parties shall select an overpayment by Tenant independent third party accountant to select which of more than the greater of (a) five percent (5%) two determinations of Operating Expenses or (b) Five Hundred is most nearly correct and No/100 Dollars ($500.00)if the parties are unable to agree on such third party accountant, Landlord the third party accountant shall pay for be selected by the reasonable cost American Arbitration Association from a list of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due3 candidates submitted by each party.

Appears in 1 contract

Samples: Industrial Tenancy Agreement

Operating Expenses. Tenant agrees shall pay to pay as Additional Rent, (except during the applicable Free Rent Period) Landlord Tenant’s pro rata share Proportionate Share of all of the Operating Expenses (as hereinafter defined) for the Leased PremisesProperty. For purposes Tenant shall make such payments in equal monthly installments on the first (1st) day of this Leaseeach month commencing on the Commencement Date. This amount shall be prorated for any partial month, from the Commencement Date and continuing throughout the Term on the first (1st) day of each calendar month during the Term, as Additional Rent, without notice, demand or setoff. The amount of the Operating Expenses represents Tenant’s pro rata share Proportionate Share of the estimated Operating Expenses during each calendar year on an annualized basis. Landlord anticipates that Tenant’s Proportionate Share of Operating Expenses shall be paid by Tenant in $2.25 per square foot of the proportion that Premises due the Rentable Area in first calendar year of the Leased Premises (as set forth hereinabove) bears Term. From time to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). time Landlord may invoice Tenant monthly for Tenant’s pro rata share of adjust such estimated amount if the estimated Operating Expenses for each calendar year, which amount shall be adjusted increase. By April 30th of each year based upon anticipated Operating Expenses determined (and as soon as practical after the expiration or termination of this Lease in Landlord’s reasonable discretion. Within four (4) months following the close event of each calendar yeara sale of the Property), Landlord shall endeavor to provide Tenant an accounting showing in reasonable detail all computations with a statement of the actual amount of such Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentpreceding calendar year or part thereof and Tenant’s Proportionate Share thereof (the “O perating E xpense Statement”). If this Lease Landlord or Tenant shall terminate on a day pay to the other than the last day of a calendar year, the amount of any Additional Rent payable deficiency or overpayment then due from one to the other within thirty (30) days of Tenant’s receipt of the Operating Expense Statement or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. Tenant’s obligation to pay the Operating Expenses pursuant to this Section shall survive the expiration or termination of this Lease. Tenant (or a certified public accountant paid by Tenant applicable to the year but not paid on a contingency basis in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant whole or in part) shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each within any calendar year; however, if to examine Landlord's books and records with regard to Operating Expenses, within thirty (30) days after Landlord submits its year-end statement. Tenant's right of examination shall be exercised during reasonable business hours at Landlord's principal office on at least ten (10) business days' notice to Landlord given within thirty (30) days after Landlord submits its year-end statement. As a condition precedent to Tenant's right to audit, Tenant must pay to Landlord all amounts shown as due in the audit correctly discloses an overpayment by year-end statement. Tenant shall provide Landlord with a copy of more than the greater of auditors report within ten (a10) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for days after the reasonable cost of such audit. Tenant agrees to keep If the results of any Tenant's audit strictly confidential show that Tenant has overpaid Operating Expenses, provided Tenant is not in default in payment Operating Expenses and pay any Additional all other Rent then due under this section Lease, the excess will be refunded by Landlord within ten thirty (30) days following after receipt of Tenant's notice specifying the invoice amounts due, unless Landlord in good faith disputes Tenant's finding. Nothing contained herein shall permit Tenant any right of deduction or accounting showing Additional Rent dueset-off. Tenant covenants and agrees that all information obtained from its examination and any agreements with Landlord in connection therewith shall be held in strict confidence by Tenant, its officers, agents, employees and auditors and that no information shall be disclosed to any other parties, including without limitation, other tenants in the Building.

Appears in 1 contract

Samples: Lease Agreement

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4nine(9) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur occur, shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit355. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Thermoview Industries Inc)

Operating Expenses. (i) Commencing with the first Operational Year and accruing from the Commencement Date, Tenant agrees shall pay to pay Landlord, as Additional Rent, (except during Tenant's Projected Share of the applicable Free Rent Period) Tenant’s pro rata share Cost of Operating Expenses (as hereinafter defined) Operation and Maintenance for the Leased Premises. For purposes Building and Property and Tenant's Proportionate Share of the Cost of Operation and Maintenance for Project Common Areas, the Common Area Spine and Parking Areas that are allocable to tenants of the Building pursuant to the terms of this LeaseLease during such Operational Year. During the month of December preceding each Operational Year, Tenant’s pro rata share of Operating Expenses Landlord shall be paid furnish Tenant by Tenant Notice a written statement, itemized in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share reasonable detail, of the estimated Operating Expenses Cost of Operation and Maintenance for each calendar year, which amount shall be adjusted each such year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total setting forth Tenant's Projected Share of the monthly payments made by Tenant exceeds Cost of Operation and Maintenance for the amount Building and Property and of Operating Expenses due by Tenant under this sectionthe Costs of Operation and Maintenance for Project Common Areas, the accounting shall be accompanied by a refund. In the event the accounting shows Common Area Spine and Parking Areas that the total are allocable to tenants of the monthly payments made by Building pursuant to the terms of this Lease during such Operational Year and Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due pay same to Landlord as Additional Rent. If this Lease Tenant's Projected Share shall terminate be divided by 12 and shall be payable on a day other than the last first day of a calendar yeareach month, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated beginning on the ratio that the number first day of days from such ensuing Operational Year. If said statement is furnished to Tenant after the commencement of such Operational Year, Tenant shall nonetheless be obligated to pay, as part of its next installment of Monthly Rent and Additional Rent, Tenant's Projected Share for the period which shall have elapsed prior to the first day of the calendar year month next succeeding the calendar month in which said Statement is furnished to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTenant.

Appears in 1 contract

Samples: Office Lease Agreement (Capital Factors Holdings Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent3.1 Beginning on the first day of January, (except 1999 and on the first day of each January thereafter during the applicable Free Rent PeriodLease Term, Lessee shall pay to Lessor as additional rent Lessee's Proportionate Share (as hereinafter defined) Tenant’s pro rata share of Common Operating Expenses (as hereinafter defined) in excess of Lessee's Proportionate Share of Common Operating Expenses for the Leased calendar year 1998 (herein called the "Base Year"). The Common Operating Expenses for the Base Year shall be estimated and calculated as accurately as possible as provided herein and shall be equitably adjusted so that such operating expenses are grossed up to reflect a full year of operation of the Building due to the Base Year not being a full year of operation for the Building. The Common Operating Expenses for the Base Year shall be further adjusted to reflect monthly totals which would have been measured assuming that Lessee had occupied and been fully operational in 100% of the Premises as of the Commencement Date; in determining such monthly totals, Lessor shall give greatest weight to those months when Lessee physically occupied 100% of the Premises. For purposes Lessee shall also pay as additional rent all other charges, costs and expenses which are not included within Common Operating Expenses or Building services if such services are to be provided by Lessor under the terms hereof and which other charges, costs or expenses are incurred by Lessor at the request of this LeaseLessee as a result of any use of the Premises by Lessee, Tenant’s pro rata share excluding any repairs or replacements to be made to the Premises by Lessor and at Lessor's expense in accordance with Section 14 hereof and excluding any work to be performed by Lessor and at Lessor's expense in accordance with Section 10 hereof. Lessee's Proportionate Share of Common Operating Expenses shall be paid by Tenant prorated as necessary for any calendar year during which this Lease is in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly effect for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of full twelve month calendar year. Common Operating Expenses due by Tenant under this section, the accounting shall be accompanied by calculated on an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueaccrual basis.

Appears in 1 contract

Samples: Harbinger Corp

Operating Expenses. Subject to Section 2.5 hereof, Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all by line item the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due additional rent. Within ninety (90) days of receipt of the operating expense reconciliation for the previous year, Tenant shall have the right to audit Landlord's books and records as Additional Rentthey pertain to operating expenses for the immediately preceding calendar year, in Landlord's office and with reasonable notice. If Tenant does not provide notice to Landlord within ninety (90) days of its intent to audit, Tenant shall automatically waive and release its right to audit for the preceding calendar year. The cost of said audit shall be borne by Tenant unless the audit discloses that Tenant has overpaid its proportionate share of operating expenses for the calendar year in question by more than ten percent (10%), in which case the reasonable expense of the audit shall be borne by Landlord. If the audit reveals that Landlord's actual statement was incorrect in any amount, the resulting excess or deficiency shall be paid by or reimbursed to Tenant, as the case may be. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses and will be adjusted appropriately when actual expenses have been compiled. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Terms (Micro Component Technology Inc)

Operating Expenses. Tenant Pursuant to Section 6 of the Original Lease, as amended by Section 8 of the First Amendment, in addition to the Base Rent Subtenant shall be obligated to pay its proportionate share of any Net Operating Expenses; provided, however, that for purposes of determining Subtenant’s share of such expenses “Base Year” shall be the 2020 calendar year such that Subtenant shall only be responsible for increases above the actual Net Operating Expenses incurred during the 2020 calendar year. Sublandlord agrees to pay as Additional Rent, (except provide timely notice to Subtenant of the estimated Net Operating Expenses for any year during the applicable Free Rent Period) TenantSublease Term as furnished by Master Landlord in accordance with Section 6.4 of the Original Lease. Any amounts due by Subtenant under this Section 5 will be due and payable to Sublandlord on the first of each month. During the Sublease Term, upon the receipt of a Reconciliation Statement pursuant to Section 6.5 of the Original Lease, Sublandlord shall provide to Subtenant written notice of the amount of any over- or under-payment with respect to Subtenant’s pro rata share of Net Operating Expenses. In the event of an underpayment, Subtenant shall pay Sublandlord for any deficiency within thirty (30) calendar days after receipt of such notice. In the event of an overpayment, Subtenant shall be entitled to offset the excess against the next payment(s) due to Sublandlord on account of Subtenant’s share of Net Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses or such excess amounts shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears Sublandlord to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Subtenant if no further payments of the estimated Net Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent are due.

Appears in 1 contract

Samples: Sublease Agreement

Operating Expenses. If Landlord's Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceed the Operating Expense Base, Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata 's share of such excess operating expense. As used herein, the term "Tenant's share of such excess Operating Expenses" means the amount by which Landlord's Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Leased Premises. For purposes of this LeaseOperating Expense Base, Tenant’s pro rata share of Operating Expenses shall be paid multiplied by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses net rentable square feet comprising for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexceeded operating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event If the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, within one (1) year following the termination date, shall have the option to invoice Tenant for Tenant's share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovereasonable time, to audit during Landlord’s 's regular business hours Landlord's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice Section. Notwithstanding anything to Landlord, but not more than once each calendar year; howeverthe contrary contained in this Lease, if the audit correctly discloses an overpayment by Tenant of more than Building is not fully occupied during any calendar year, Tenant's additional rent under this Section and the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord operating expenses shall pay for be determined as if the reasonable cost of Building had been fully occupied during such audityear. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due, Calendar year 2001 to be the base for calculation of pass through of operating expenses.

Appears in 1 contract

Samples: Office Lease (Access Integrated Technologies Inc)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premisesbuilding and/or project of which the leased premises are a part. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Lessor may invoice Lessee monthly for Lessee's pro rata share of the estimated operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated operating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates. Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten [Interlineated text] thirty days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Microtune Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during The amount of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) above represents Tenant’s pro rata share Share of the Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid calendar year in which the Term commences as reasonably estimated by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Landlord. Landlord may reasonably adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease in which case Landlord shall send written notice of such increase or decrease to Tenant, together with reasonable documentation supporting such adjustment; Landlord may also invoice Tenant monthly separately from time to time for Tenant’s pro rata share Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar yearProperty), Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section includingfor the preceding calendar year or part thereof. In the event the accounting shows that the total Within thirty (30) days after delivery of the monthly payments made by statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable overpayment or deficiency then due from one to the year other or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. If Tenant does not give Landlord notice within thirty (30) days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in which such termination shall occur dispute, Tenant shall be prorated on deemed to have waived the ratio that right to contest the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365statement. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant and Tenant’s obligation to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent overpayment or deficiency due under the other pursuant to this section within ten days following receipt Section shall survive the expiration or termination of the invoice or accounting showing Additional Rent duethis Lease.

Appears in 1 contract

Samples: U.S. Auto Parts Network, Inc.

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata share of the Operating Expenses (as hereinafter defined) of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time to time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event any event, if the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the Operating Expenses due as Additional Rentbased upon the previous calendar year’s Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time. Landlord shall maintain books and records showing, in reasonable detail, actual Operating Expenses in accordance with generally accepted accounting principles. All such books and records shall be made available to Tenant for inspection upon reasonable prior notice.

Appears in 1 contract

Samples: Cardiovascular Systems Inc

Operating Expenses. Tenant agrees If Lessxx'x xperating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceeds the Operating Expense Base, Lessxx xxxees to pay as Additional Rentadditional rent Lessxx'x xhare of such excess operating expenses. As used herein, (except during the applicable Free Rent Period) Tenant’s pro rata term "Lessee's share of such excess Operating Expenses" means the amount by which Lessxx'x Xperating Expenses (as hereinafter defined) for per net rentable square foot exceed the Operating Expense Base, multiplied by the net rentable square feet comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata share Lessxx'x xhare of the estimated Operating Expenses excess operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessxx xxxd notice within said time period shall not be a waiver of Lessxx'x xight to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Lessor, by March 31 of the following year after the termination date, shall have the option to invoice Lessee for Lessxx'x xhare of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.the

Appears in 1 contract

Samples: Titan Exploration Inc

Operating Expenses. Tenant Xxxxxx agrees to pay as Additional Rent, (except additional rental Tenant’s “Pro Rata Share” of the increase in the Operating Expenses incurred by Landlord during any calendar year during the applicable Free Rent Period) Term of this Lease over the same Operating Expenses incurred by Landlord during the Base Year 2019. For purposes hereof, Tenant’s pro rata share Pro Rata Share shall mean 11% (which is calculated by dividing the rentable square footage of Operating Expenses (as hereinafter defined) for the Leased PremisesPremises by the rentable square footage of the Building (5,119/46,277 = 11.06%). Landlord represents and warrants that the total “Pro Rata Shares” of all tenants of the Building does not exceed 100%. For purposes of this Leasecalculation, Tenant’s pro rata share of “Base Year 2019” means those Operating Expenses incurred between January 1, 2019 and December 31, 2019, except real estate taxes and special assessments shall mean those incurred in tax year 2018. Increases in Operating Expenses shall be paid by Tenant capped at 3% annually, non-cumulative; provided however, increases in the proportion that the Rentable Area Uncontrollable Operating Expenses (collectively, taxes, insurance, special assessments from governmental authorities, utility costs and snow removal charges) shall be charged in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A full and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)not capped. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar yearmay, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four within six (46) months following the close of each any calendar yearyear for which additional rental is due under this paragraph, Landlord invoice Tenant for Tenant’s Pro Rata Share of any such increases to the Operating Expenses. The invoice shall provide Tenant an accounting showing include in reasonable detail all computations of Operating Expenses due under this section including. In the event additional rental (for both the accounting shows that applicable calendar year and the total Base Year 2019), and Xxxxxx agrees to make payment of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable additional rental to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and Landlord within six thirty (630) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice and computations. In the year in which this Lease terminates, Landlord, in lieu of waiting until the close of the calendar year in order to determine Operating Expenses, has the option to invoice Tenant for Tenant’s Pro Rata Share of the Operating Expenses based upon the previous year’s Operating Expenses and then bill or accounting showing Additional refund Tenant for any difference after close of the calendar year in the manner described above; Landlord shall invoice Tenant under this option within thirty (30) days prior to the termination of this Lease. Landlord may at any time during the Term of this Lease increase the Monthly Rent dueto an amount which reflects Xxxxxx’s Pro Rata Share of the Operating Expenses based upon the previous year’s excess Operating Expenses after giving Tenant thirty (30) days’ written notice. The Monthly Rent and any additional rental for Tenant’s Pro Rata Share of the excess Operating Expenses, and all other amounts owed from Tenant to Landlord under the terms of this Lease, are collectively referred to in this Lease as the “Rent.

Appears in 1 contract

Samples: Sublease Agreement

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Terms (Fair Isaac & Company Inc)

Operating Expenses. Tenant If Lessor's Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceeds the Operating Expense Base, Lessee agrees to pay as Additional Rentadditional rent Lessee's Share of Such Excess Operating Expenses. As used herein, (except during the applicable Free Rent Period) Tenant’s pro rata share term "Lessee's Share of Such Excess Operating Expenses" means the amount by which Lessor's Operating Expenses (as hereinafter defined) per net rentable square foot for the Property exceed the Operating Expense Base, multiplied by the net rentable square feet comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's share of the estimated Operating Expenses increase in operating expenses for each calendar yearyear beginning with calendar year 1997, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor's right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s during Lessor's regular business hours Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Section.. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (Vista Energy Resources Inc)

Operating Expenses. Commencing on February 1, 1988 and ------------------ thereafter during the term of this Lease, Tenant agrees to shall pay as Additional Rent, the sum of (except during the applicable Free Rent Periodi) Tenant’s pro rata share 's Share of Operating Expenses (as hereinafter defined), plus (ii) management fees equal to two and one-half percent (2-1/2%) of the sum of (x) _________________________________________ Additional Rent payable under this Section 3.04 for any period of less than one month shall be apportioned on the basis of the number of days in such month. During December of each calendar year during the term of this Lease, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rent payable under this Section 3.04 for the ensuing calendar year; provided, however, Additional Rent during calendar year 1988 shall be calculated on the basis of an estimate of Additional Rent in the amount of _____________________ of rentable area in the Leased Premises. For purposes On or before the first day of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in each month during the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each ensuing calendar year, which amount Tenant shall be adjusted each pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Annual Rent, provided that if such notice is not given in December, Tenant shall continue to pay during the ensuing calendar year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following on the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total basis of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of during the calendar year just ended, until the month after such notice is given. If at any time or times it appears to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to Landlord that the Additional Rent payable under this section upon reasonable notice to Section 3.04 for the current calendar year will vary from Landlord, but not 's estimate by more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate. Failure to make a revision contemplated by the reasonable cost immediately preceding sentence shall not prejudice Landlord's right to collect the full amounts of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueRent.

Appears in 1 contract

Samples: Sub Sublease Agreement (Manhattan Associates Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of the actual operating expenses per square foot including common area maintenance for calendar year 1993, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the express operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Learningstar Inc)

Operating Expenses. Tenant agrees shall pay to pay Landlord, in the manner set forth in Section 8 below, and as Additional Rent, Tenant's Percentage Share of Operating Expenses attributable to Landlord's operation, management, repair and maintenance of the Building and the portion of Operating Expenses attributable to the operation, management, repair and/or maintenance of the developed Common Facilities of the Project (except during including, but not limited to, common detention ponds, the applicable Free Rent Periodcentral park area, Building and Project roads, Building and Project landscaping, etc.) Tenant’s allocated by Landlord to the Building based upon the Building's pro rata share of Operating Expenses thereof (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent is reasonably determined by Landlord) (100%collectively, "Tenant's Percentage Share of Operating Expenses"). Landlord may invoice shall not allocate to Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations any portion of Operating Expenses due under this section including. In the event the accounting shows that the total attributable to undeveloped portions of the monthly payments made by Tenant exceeds Project, developed portions of the amount Project held for lease (excluding the Building), or developed portions of the Project that are not Common Facilities. Tenant's obligation to pay Tenant's Percentage Share of Operating Expenses due by during the Term shall survive the expiration or any earlier termination of this Lease provided that Landlord invoices Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less for such amounts no later than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Renttwo (2) years after such expiration or early termination. If this Lease shall commence or terminate on a day other than the first or last day of a calendar year, respectively, the amount of any Additional Rent Tenant's Percentage Share of Operating Expenses payable by Tenant applicable to the for such calendar year in which such termination shall occur shall be prorated on the ratio that the number basis of days from the commencement a 365 day year and shall be due and payable when rendered notwithstanding termination of this Lease. Tenant's Percentage Share of Operating Expenses allocable to the calendar year in which this Lease commences or terminates shall be deemed to and including have been incurred evenly over the Expiration Date bears to 365entire twelve (12) month period of such calendar year. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant "Tenant's Percentage Share" is a percentage equal to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt rentable square footage of the invoice or accounting showing Additional Rent duePremises divided by the rentable square footage of the Building (as set forth in the Basic Lease Information).

Appears in 1 contract

Samples: Allos Therapeutics Inc

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or parcel of which the leased premises are a part shall in any calendar year during the term of this Lease, exceed the sum of $5.50 PER USABLE square foot. Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments payment made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant 365 Lessee shall have the right, ; at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Basic Lease Terms (Paysys International Inc)

Operating Expenses. Tenant agrees Personal property taxes, installment payments of special assessment liens, vault charges, sewer charges, utility charges, and normally prorated operating expenses actually paid or payable as of the Closing Date with respect to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses Property shall be paid by Tenant in prorated as of the proportion Closing Date and adjusted against the Purchase Price, provided that within ninety (90) days after the Rentable Area in Closing, Purchaser and Seller will make a further adjustment for such taxes, charges and expenses affecting the Leased Premises (as set forth hereinabove) bears Property which may have accrued or been incurred prior to the total Rentable Area in Unit A and Landlord and Tenant agree Closing Date, but not collected or paid at that such pro rata share shall equal one hundred percent date. In addition, within ninety (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (490) months following days after the close of each calendar yearthe fiscal year(s) used in calculating the pass-through to the tenant of operating expenses and/or common area maintenance costs under the Lease (where such fiscal year(s) include(s) the Closing Date), Landlord shall provide Tenant an accounting showing Seller and Purchaser shall, upon the request of either, re-prorate on a fair and equitable basis in reasonable detail all computations order to adjust for the effect of Operating Expenses any credits or payments due under this section includingto or from the tenant for periods prior to the Closing Date. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting All prorations shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate based on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of calendar days from in such year or month, as the commencement case may be. Notwithstanding the foregoing, personal property taxes, installment payments of special assessment liens, vault charges, sewer charges, utility charges, and operating expenses shall not be prorated with respect to any Property as to which the calendar year tenant under the Lease is obligated to and including pay the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant same directly to the Additional Rent payable under this section upon reasonable notice provider thereof. Promptly following the Closing, Seller and Purchaser shall cooperate in transferring all utility and water and sewer accounts from Seller to Landlord, but not more than once each calendar yearPurchaser; however, if it being agreed that Seller shall be entitled to the audit correctly discloses an overpayment refund of any utility deposits made by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred Seller and No/100 Dollars ($500.00), Landlord shall pay Purchaser will be responsible for the reasonable cost of such audit. Tenant agrees to keep the results payment of any audit strictly confidential and pay deposits or security required by any Additional Rent due under utility provider. The provisions of this section within ten Section 10.5(d) shall survive the Closing for a period of one hundred eighty (180) days following receipt of the invoice or accounting showing Additional Rent dueClosing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Gyrodyne, LLC)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time- to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses and shall be due at the same time base rent is due. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the rightExcept as otherwise provided herein, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Vital Health Technologies Inc

Operating Expenses. In the event Landlord's Operating Expenses for the Property of which the Leased Premises are a part shall, in any calendar year during the term of this Lease, exceed the Expense Stop set forth in Section 1.07 of this Lease. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of such excess Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) nine months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by a refundcredit against the next monthly rental payment. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated based on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Provided Tenant is not in default of the Lease, Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s 's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice section. Tenant agrees that any information or agreements related to Landlordsuch audit shall be held by Tenant, but not more than once each calendar year; howeverits employees, if the agents and contractors in strictest confidence. Tenant shall indemnify and hold harmless Landlord from and against any claims, damages, costs or liabilities incurred by Landlord in connection with any breach of this confidentiality clause by Tenant, its employees, agents or contractors. As a precondition to any audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)hereunder, Landlord shall pay for the reasonable cost of such auditmay require any Tenant-related auditor or other agent to sign a confidentiality agreement on Landlord's form. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Landlord's failure to timely meet any requirements of this Paragraph 2.02 shall in no way constitute a waiver of its rights to collect such Operating Expenses from Tenant and Tenant shall be bound to perform its obligations hereunder in any event.

Appears in 1 contract

Samples: Lease Agreement (Gary Player Direct Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $________________ THE ACTUAL OPERATING EXPENSE per square foot FOR THE CALENDAR YEAR 1994, INCLUDING COMMON AREA MAINTENANCE (CAM), Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expensed for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments are made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease lease shall terminate on a the day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Performance Printing Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased PremisesProject of which the Premises is a part. For purposes of this LeaseThe operating expenses are initially estimated to be $2.33 per square foot ($8,733.00 per month), Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (subject to adjustment as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). hereafter provided, Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined operating expenses, provided no more than one (1) adjustment shall be permitted in Landlord’s reasonable discretioneach calendar year. Within four nine (49) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.7 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Project.

Appears in 1 contract

Samples: Lease Agreement (Delphax Technologies Inc)

Operating Expenses. Tenant In the event, Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1.18 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months ninety days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's accounting expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense expenses and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten twenty (20) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Vialog Corp)

Operating Expenses. In the event Landlord's operating expenses for the Building shall, in any calendar year during the Term, exceed the sum of those expenses accrued during the 1999 base year ("Excess Expenses") Tenant agrees to shall pay as Additional Rentadditional rent Tenant's Proportionate Share of Excess Expenses. In order to provide current payments on account of Excess Expenses Tenant shall, (except during the applicable Free Rent Period) at Landlord's request, pay as additional rent, an amount equal to Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata 's Proportionate share of the Excess Expenses due for the ensuing twelve (12) months, as estimated Operating Expenses for each calendar yearby Landlord from time to time, in twelve (12) equal monthly installments, commencing on the first day of the month following the month in which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionLandlord notifies Tenant of the amount. Within four (4) months following Following the close of each calendar year, Landlord shall provide Tenant an accounting with a statement showing in reasonable detail all computations of Operating Expenses due additional rent under this section includingsection. In the event the accounting shows that the total If Tenant's Proportionate Share of the actual Excess Expenses for the preceding calendar year exceeds the aggregate of the estimated monthly payments made by Tenant exceeds the amount of Operating Expenses due by for such year, Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total within ten (10) days of the receipt of the statement, pay to Landlord as additional rent an amount equal to such excess. If such aggregate of the estimated monthly payments made exceeds Tenant's Proportionate share of the actual Excess Expenses for such calendar year, Landlord shall credit against Tenant's next ensuing monthly installment or installments of the rent an amount equal to such difference until the credit is exhausted. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit to Tenant by reason of this provision. The obligations of Tenant is less than and Landlord to make payments or credits required by this provision shall survive the amount Termination Date. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, prior to the Termination Date, shall have the option to invoice Tenant for Tenant's Proportionate share of Operating the Excess Expenses due by Tenant under this section, based upon the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentprevious year's operating expenses. If this the Lease shall terminate on a day other than the last day of a the calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Termination Date bears to 365. Each annual statement given by Landlord or the Building Manager pursuant to this section shall be conclusive and binding upon Tenant unless within ninety (90) days after receipt of such statement Tenant shall notify Landlord that it disputes the correctness of the statement, specifying the particular respects in which it is claimed to be incorrect. If such dispute shall not have been settled by agreement, then, pending the rightlegal determination of such dispute by a later agreement or litigation, at its own expense Tenant shall pay additional rent in accordance with such statement and within six (6) months after Tenant receives such payment shall be without prejudice to Tenant's position. If the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)dispute shall be determined in Tenant's favor, Landlord shall pay forthwith credit to Tenant the amount of Tenant's overpayment of additional rent resulting from compliance with Landlord's statement. Landlord shall grant Tenant, at Tenant's expense, reasonable access to Landlord's books and records for the reasonable cost purpose of verifying the Excess Expenses. If during any calendar year of this Lease, the occupancy of the Building averages less than one hundred percent (100%), it is agreed that the Operating Expenses that vary depending upon occupancy shall be computed as though the Building had been 95% occupied for such calendar year. If Landlord recovers in excess of 100% of its Operating Expenses that vary depending upon occupancy during any calendar year of this Lease, Landlord shall credit against Tenant's next ensuing monthly installment or installments of the rent an amount equal to Tenant's Proportionate Share of such audit. Tenant agrees to keep excess until the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt credit is exhausted, or if the term of the invoice or accounting showing Additional Rent dueLease has expired refund to the Tenant the Tenant's Proportionate Share of such excess.

Appears in 1 contract

Samples: Office Lease (Trizetto Group Inc)

Operating Expenses. Tenant agrees to pay as Additional RentIn the event Landlord's Building operating costs, (except including facade maintenance, exterior painting, costs of services governmental or private, utilities and insurance, during any calendar year following the Base Year shall exceed the cost incurred by Landlord during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (Base Year, Tenant shall pay to Landlord as hereinafter defined) additional rent for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears such calendar year an amount equal to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Percentage of the estimated Operating Expenses for each excess, on or before July 1st, subsequent to the calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close Base Year and on or before the July 1st, of each calendar year, year hereafter. Landlord shall provide furnish to Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total a statement of the monthly payments made by Tenant increase in cost for the preceding calendar year and the Base, Year. If the cost or same for such preceding calendar year exceeds the cost during the Base Year, additional rent for such preceding calendar year in an amount equal to The Percentage of Operating Expenses due by Tenant under this section, the accounting excess shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by due from Tenant is less than the amount of Operating Expenses due by Tenant under this sectionto Landlord, the accounting and such additional rent shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to Landlord within thirty (30) days after receipt of the year in which such termination shall occur aforesaid statement. The aforesaid statement of Landlord's Operating Costs shall be prorated on deemed final and conclusive between the ratio that the number parties, their successors and assigns as to all matters contained therein if no objection is raised with respect hereto within thirty (30) days after receipt of days from the commencement of the calendar year to and including the Expiration Date bears to 365such statement by Tenant. Tenant shall have the right, right to examine the Landlord's books and records at its own expense and within six the offices of Landlord during ordinary business hours during the aforesaid thirty (6) months after Tenant receives 30)day period for the accounting described above, to audit Landlord’s books relevant to purpose of verifying matters contained in the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) statement of Operating Expenses for the preceding year. Tenant shall make written request of Landlord prior to such inspection to e assured of the availability of the records. Any objections must be in writing and served personally or via Certified Mail, Return Receipt Requested. If Tenant does not make an examination of Landlord's books and records within the aforementioned thirty (b) Five Hundred 30)day period, Tenant shall further be deemed to have irrevocably waived any and No/100 Dollars ($500.00)all rights to future examination. Any objection raised by Tenant shall be specific and all items and matters not specifically objected to shall be deemed accepted and final. In the event there arises any dispute as to the amounts stated in the aforesaid statement of Operating Expenses, such dispute shall be settled by arbitration pursuant to the rules of the American Arbitration Association. However, Tenant shall continue, without any offset, to pay all Rent and Additional Rent, including Tenant's Share of Landlord's Operating Costs as billed by Landlord until determination of the arbitration. In the event of a decision in favor of Tenant, Landlord shall pay credit any such amount due against future rents or _____________________________________________________________ with the Base Year for the reasonable cost purpose of determining if Tenant shall pay additional rent for such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under calendar year in accordance with this section within ten days following receipt of the invoice or accounting showing Additional Rent dueArticle 28.

Appears in 1 contract

Samples: Agreement of Lease (Global Sources LTD)

Operating Expenses. Tenant agrees to pay Commencing as Additional Rent, (except during of the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for Commencement Date and continuing throughout the Leased Premises. For purposes term of this Lease, Tenant shall pay, as additional rent ("additional rent"), Tenant’s 's pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabovedefined in Section 1.7 above) bears to of the total Rentable Area in Unit A and operating expenses of Landlord and Tenant agree that such pro rata share shall equal one hundred percent for the Building (100%the "operating expenses"). Landlord may shall invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that If the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous calendar year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting (together with reasonable supporting documentation) showing Additional Rent additional rent due.. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Section 1.2 above and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time. Landlord shall maintain books and records showing, in reasonable detail, actual operating expenses in accordance with generally accepted accounting principles. All such books and records shall be made available to Tenant for inspection upon reasonable prior notice. Notwithstanding anything contained herein to the contrary, any capital improvements to the Building over $15,000.00 shall be amortized at 8% interest over its useful life in accordance with generally acceptable accounting principles (GAAP). 41905151-2

Appears in 1 contract

Samples: DJO Finance LLC

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during a) The amount of the applicable Free Rent Period) Annual Operating Expenses set forth in Section 1 above represents Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for each the calendar year, year in which the Term commences. Landlord may adjust such amount shall be adjusted each year based upon anticipated from time to time if the estimated Annual Operating Expenses determined increase or decrease and/or upon the occurrence of a Management Takeover Event (provided, however, that Landlord shall not adjust such estimate more than once in any calendar year (excluding any adjustment that is necessary as a result of the occurrence of a Management Takeover Event)); Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses (to the extent that Tenant would otherwise be obligated to pay such Operating Expenses pursuant to the terms of this Lease, including the definition of Operating Expenses set forth in the Rider attached hereto). Within one hundred fifty (150) days after (i) the end of the calendar year in which the Operating Expenses were incurred, (ii) the expiration or termination of this Lease or (iii) at Landlord’s reasonable discretion. Within four (4) months following option, a sale of the close of each calendar yearBuilding, Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section including(“Statement”) for the preceding calendar year or part thereof detailing the actual Operating Expenses incurred by Landlord in such preceding calendar year or part thereof. In the event the accounting shows that the total Within thirty (30) days after delivery of the monthly payments made by Statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable overpayment or deficiency then due from one to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the rightother or, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; howeveroption, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)applicable, Landlord shall pay may credit Tenant’s account for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueoverpayment.

Appears in 1 contract

Samples: Lease Agreement (QuantumScape Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Terms (Intranet Solutions Inc)

Operating Expenses. Tenant If Lessor’s Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceeds the Operating Expense Base, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenantadditional rent Lessee’s pro rata share of such Excess Operating Expenses, subject to the limitations set forth below. As used herein, the term “Lessee’s share of such Excess Operating Expenses” means the amount by which Lessor’s Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Operating Expense Base, multiplied by the Net Rentable Area comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for TenantLessee’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor’s right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Lessor within one (1) year following the termination date, shall have the option to invoice Lessee for Lessee’s share of the Excess Operating Expenses due as Additional Rentbased upon the previous year’s Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlordduring Lessor’s regular business hours Lessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditSection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Diamondback Energy, Inc.)

Operating Expenses. This Lease contemplates a transaction commonly described as a "triple-net lease" whereby the parties intend that Tenant agrees shall bear all of the costs incurred by Landlord in connection with the operation, repair, maintenance, management, restoration and replacement of the Building or any portion thereof, except as otherwise expressly set forth in this Lease (collectively, "Operating Expenses"). In addition to pay as Additional the Base Rent, (except Tenant shall pay to Landlord during the applicable Free Rent Period) Tenant’s pro rata share Term of this Lease 100% of the annual Operating Expenses (attributable to the Building as hereinafter defined) for the Leased Premisesdefined in this Section 3.3. For purposes Payments of this Lease, Tenant’s pro rata share of annual Operating Expenses shall be paid estimated by Landlord and shall be due and payable monthly on the same date as the Base Rent. Operating Expenses payable by Tenant in may be adjusted by Landlord on a quarterly basis should the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated actual Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexceed the then current estimates. Within four sixty (460) months following days after the close expiration of each calendar year, Landlord shall provide Tenant an accounting with a reasonably detailed statement showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the actual amount of Operating Expenses due by Tenant under this section, for the accounting shall be accompanied by a refundprior calendar year. In If the event the accounting shows that the total estimated payments of the monthly payments Operating Expenses made by Tenant is for such prior year pursuant to this paragraph are less than or exceed the amount actual Operating Expenses for such prior year as shown in any such statement of actual Operating Expenses, then Tenant's account will be adjusted to reflect the amounts due. All deficiencies are payable upon receipt of invoice and all overpayments made by Tenant shall be applied as a credit by Landlord to the next installment of Operating Expense reimbursement. Concurrently, with the remittance of the prior year statement, or as soon thereafter as is reasonably possible, Landlord shall advise Tenant of the then current year's estimate of Operating Expenses as well as the monthly payment due by Tenant under this section, thereon. Any deficiencies in monthly billing that may have accrued from either the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If Commencement Date of this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.the

Appears in 1 contract

Samples: Building Lease Agreement (Infosonics Corp)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $ 2000 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Notwithstanding anything to the contrary herein, Lessor's right to recover increases in controllable expenses being expenses other than taxes, insurance, and utilities shall be limited to five percent (5%) per annum on a cumulative basis. There shall be no limitation on taxes, insurance, and utilities.

Appears in 1 contract

Samples: Basic Lease Terms (Allstar Systems Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during The amount of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) above represents Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for each the calendar year, year in which the Term commences. Landlord may adjust such amount shall be adjusted from time to time if the estimated Annual Operating Expenses increase or decrease; Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By March 31st of each year based upon anticipated Operating Expenses determined in (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s reasonable discretion. Within four (4) months following option, after a sale of the close of each calendar yearProperty), Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section includingfor the preceding calendar year or part thereof. In the event the accounting shows that the total Within 30 days after delivery of the monthly payments made by statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable overpayment or deficiency then due from one to the year other. If Tenant does not give Landlord notice within 90 days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in which such termination shall occur dispute, Tenant shall be prorated on deemed to have waived the ratio that right to contest the number statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of days this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time the commencement method of the calendar year to computing and allocating Operating Expenses, including the Expiration Date bears method of allocating Operating Expenses to 365various types of space within the Building to reflect any disparate levels of services provided to different types of space. Tenant shall have the rightright from time to time, at by its own expense and within six (6) months after Tenant receives the accounting described aboveaccountants or representatives, to audit inspect and examine all of Landlord’s books relevant records relating to the Additional Rent calculation of Operating Expenses payable by Tenant hereunder, as well as to request and receive reasonable invoice support with respect to the same. Landlord shall retain such records for at least 2 years. In the event that any such inspection discloses that Tenant has paid an amount in excess of that payable by Tenant under this section upon reasonable notice Section, Landlord shall refund such excess to Tenant within 30 days after receipt from Tenant of a report substantiating Tenant’s position to Landlord’s reasonable satisfaction. In addition, but not more than once each calendar year; however, if in the audit correctly event that any such inspection discloses an overpayment by (subject to Landlord’s reasonable satisfaction) that Landlord has charged Tenant in excess of 3% more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)amount properly chargeable to Tenant, Landlord shall pay for reimburse to Tenant the reasonable cost costs of such audit. inspection within 30 days after receipt from Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duereasonable substantiation for such costs.

Appears in 1 contract

Samples: Lease Agreement (Novavax Inc)

Operating Expenses. Tenant In the event Lessor’s operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $ 2003 BASE YEAR per square foot, Lessee agrees to pay as Additional Rentadditional rent without demand, (except during the applicable Free Rent Period) Tenantoffset or deduction Lessee’s pro rata share of Operating Expenses (as hereinafter defined) for such excess operating expenses. Lessor may invoice Lessee monthly or notify Lessee in writing the Leased Premises. For purposes amount of this Lease, Tenant’s pro rata share of Operating Expenses shall the additional rent to be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears added to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly Base Rent for TenantLessee’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee’s pro rata share of the excess operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described aboveexpense, to audit LandlordLessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice section. With respect to Landlordsuch audit, but not more than once each calendar year; howeverLessee (i) may review Lessor’s books during office hours, if (ii) must perform such audit at the location of Lessor’s books, (iii) must request such audit correctly discloses an overpayment by Tenant within thirty (30) days of more than receipt of its annual reconciliation of operating expenses, (iv) must deliver to Lessor a copy of the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost results of such audit, (v) may not audit the same calendar year more than one time and (vi) may only audit Lessor’s books should Lessee’s share of operating expenses increase from the previous calendar year. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Mathstar Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are in part shall, in any calendar year during the term of this Lease, exceed the sum of $*1.30 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may Lessor nay invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based band upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, section the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.. *OR BASE YEAR 1996, WHICHEVER IS HIGHER

Appears in 1 contract

Samples: Lease Agreement (Industrial Data Systems Corp)

Operating Expenses. (a) Tenant agrees shall pay to pay as Additional RentLandlord Tenant's Share of all Operating Expenses (defined in Section 5.2(b) below) for each calendar year, (except or part thereof, during the applicable Free Lease Term (subject to any waiver of Additional Rent Period) as expressly provided in this Lease). Tenant’s pro rata share 's Share of Operating Expenses (as hereinafter defined) per month for the Leased Premisesperiod ending December 31, 2001, shall not exceed Tenant's Share of Monthly Operating Expense Base (Section 1(j)). For purposes On or before the beginning of this Leaseeach calendar year during the Lease Term, Landlord shall endeavor to submit to Tenant a written estimate of Tenant’s pro rata share 's Share of Operating Expenses for the upcoming calendar year, Tenant shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for pay Tenant’s pro rata share 's Share of the estimated Operating Expenses for each calendar yearyear or partial calendar year in monthly installments, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion's estimate, on the first (1st) day of each calendar month. Within four ninety (490) months following days after the close end of each calendar year or partial calendar year, Landlord shall provide furnish Tenant an accounting showing in reasonable detail all computations with a statement of the actual amount of Tenant's Share of Operating Expenses due under this section including. In for such period (the event the accounting shows that the total "Year-End Statement"), but Landlord's failure to timely provide such statement shall not constitute a waiver of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable Landlord's right to submit such statement subsequent to the year in which end of such termination ninety (90) day period and shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year not affect Landlord's right to and including the Expiration Date bears collect or Tenant's obligation to 365pay any amounts due thereunder. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described aboveexpense, to audit have a certified public accountant review Landlord’s 's books relevant and records relating to the Additional Rent payable under this section upon Operating Expenses for such period at Landlord's office during normal business hours and after reasonable notice to LandlordLandlord and shall have sixty (60) days after delivery of the Year-End Statement to object in writing to the accuracy of the Year-End Statement. If Tenant does not object within such sixty (60) day period, but the Year-End Statement shall be conclusive and binding on Tenant. Objections by Tenant shall not more excuse or abate Tenant's obligations to make payments required under this Sectxxx 0.2(a) pending the resolution of Tenant's objections. If the total amount paid by Tenant under this Section 5.2(a) for any calendar year is less than once the actual amount due from Tenant for such year as shown on the Year-End Statement, Tenant shall pay the difference to Landlord within fifteen (15) days after the furnishing of each such statement. If the total amount paid by Tenant hereunder for any such calendar year exceeds the actual amount due from Tenant for such calendar year; however, if such excess shall be credited against the audit correctly discloses an overpayment by next installment due from Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), to Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueSection 5.2.(a).

Appears in 1 contract

Samples: Access Integrated Technologies Inc

Operating Expenses. If the Operating Expenses for any calendar year during this Lease term (including the year in which this Lease expires or is otherwise terminated), commencing with the calendar year 1996, have increased over the Operating Expenses for the calendar year 1995 (the "Base Year"), then within fifteen (15) days after Landlord furnishes Tenant agrees with an Escalation Statement relating to such calendar year Tenant shall, in the case of an increase, pay to Landlord as Additional Rentadditional rent for such calendar year an amount equal to the product obtained by multiplying such increase by Tenant's Share. Landlord may, (except during at or after the applicable Free Rent Period) start of any calendar year, subsequent to the calendar year 1995, notify Tenant of the amount which Landlord estimates will be Tenant’s pro rata 's monthly share of any such increase in Operating Expenses (as hereinafter defined) for such calendar year over the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses Base Year and the amount thereof shall be added to the monthly fixed rent payments required to be made by Tenant in such year. If Tenant's Share of any such increase in rent payable hereunder as shown on the Escalation Statement is greater or less than the total amounts actually billed to and paid by Tenant during the year covered by such statement, then within thirty (30) days thereafter, Tenant shall pay in cash any sums owed Landlord or, if applicable, Tenant shall receive a credit against any rental next accruing for any sum owed Tenant. Notwithstanding anything to the contrary in this Section 3.2 of the Lease, if, in any calendar year following the Base Year (a "Subsequent Year"), a new item of expense (e.g. earthquake insurance, concierge), is included in Operating Expenses which was not included in the proportion that Base Year Operating Expenses, then the Rentable Area in the Leased Premises (as set forth hereinabove) bears cost of such new item shall be added to the total Rentable Area Base Year Operating Expenses for purposes of determining the additional rent payable pursuant to this Section 3.2 for such Subsequent Year. The same amount shall continue to be included in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Base Year Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows Subsequent Year thereafter such that the total of additional charges for such Subsequent Year shall include the monthly payments made by Tenant exceeds increase in the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditnew item over the first Subsequent Year in which it appeared as an Operating Expense provided, however, that if in any Subsequent Year thereafter such new item is not included in Operating Expenses, no such addition shall be made to Base Year Operating Expenses. Tenant agrees Conversely, if, in any Subsequent Year, an item of expense as determined by Landlord in its sole discretion is no longer included in Operating Expenses that was included the Base Year Operating Expenses, then the cost of such item shall be deleted from the Base Year Operating Expenses for purposes of determining the additional rent payable pursuant to keep this Section 3.2 for such Subsequent Year. The same amount shall continue to be deleted from the results of Base Year Operating Expenses for each Subsequent Year thereafter that the item is not included provided, however, that if such item is again included in any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of Subsequent Year, then the invoice or accounting showing Additional Rent dueitem shall be added back to the Base Year Operating Expenses.

Appears in 1 contract

Samples: Office Lease (Sycamore Park Convalescent Hospital)

Operating Expenses. Tenant In the event, Lessor’s operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1.18 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenantadditional rent Lessee’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for TenantLessee’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months ninety days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee’s pro rata share of the excess operating expenses based upon the previous year’s accounting expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense expenses and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit LandlordLessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten twenty (20) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (Ptek Holdings Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the actual operating expenses of the building during the calendar year 1996; Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operation expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. See Item #2 of Exhibit "B" attached hereto and made a part hereof.

Appears in 1 contract

Samples: Sublease Agreement (Interactive Entertainment LTD)

AutoNDA by SimpleDocs

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Basic Lease Terms (Atmi Inc)

Operating Expenses. Within ninety (90) days after each calendar year (hereinafter "Comparison Year") following the Base Year, or within a reasonable time thereafter, Landlord shall furnish to Tenant agrees (i) a statement of actual Operating Expenses for such Comparison Year, and (ii) a notice together with reasonable evidence indicating the increase of Operating Expenses, for such Comparison year, as computed by comparison with the Base Year, and Tenant's Percentage Share of such increase then due. Within 15 days of delivery of said notice to Tenant for such Comparison year, Tenant shall pay in full the total Percentage Share amount of increase due for such Comparison Year less credit for any estimated increases paid. In addition, said amount of increase shall be used as Additional Rentan estimated increase for the then current year, and the amount shall be divided into twelve (except during 12) equal monthly installments and Tenant shall pay to Landlord, concurrently with the applicable Free Rent Periodregular monthly rent payment next due following the delivery to Tenant of said notice, an amount equal to one (1) monthly installment multiplied by the number of months from January in the calendar year in which said notice is submitted to the month of such payment, both months inclusive. Subsequent installments shall be payable concurrently with the regular monthly rent payments for the balance of that calendar year and shall continue until the next Comparison Year's notice is delivered. If in any Comparison Year, the Tenant’s pro rata share 's Percentage Share amount of Operating Expenses (as hereinafter defined) for is less than the Leased Premises. For purposes of this Leasepreceding year, Tenant’s pro rata share any overpayment made by Tenant on the monthly installment basis provided above shall be credited towards the next monthly rent falling due and the estimated monthly installments of Operating Expenses to be paid shall be paid by adjusted to reflect such lower Operating Expenses for the most recent Comparison Year. Even though the term has expired and Xxxxxx has vacated the premises, when the final determination is made of Tenant's Percentage Share of Operating Expenses for the year in which this Lease terminates, Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of pay any increase due over the estimated Operating Expenses for each calendar year, which amount paid. Any overpayment made in the event said Operating Expenses decrease shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, rebated by Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTenant.

Appears in 1 contract

Samples: Industrial Lease (Applied Imaging Corp)

Operating Expenses. Operating Expenses shall be defined as the sum of (i) Operating Costs, as defined in Article V, Section 1 of the Prime Lease, (ii) Real Estate Taxes, as defined in Article V, Section 4 of the Prime Lease, and (iii) the costs of Sublandlord's Maintenance Obligations, as defined in Section 10 hereof. If, with respect to any calendar year during the Sublease Term after the Operating Expenses Base Year (which shall be defined as calendar year 1995); the aggregate amount of Operating Expenses exceeds the Operating Expenses for the Operating Expenses Base Year; Tenant agrees shall pay to pay Landlord, as Additional Rent, the entire amount of such excess. Tenant's obligation under this Section 4(b) shall be prorated for partial calendar years at the beginning or end of the Term. After the end of each calendar year included in the Sublease Term, Sublandlord shall send Subtenant a statement showing Operating Expenses (except during i) for the applicable Free Rent Periodcalendar year just ended ("Actual Expenses"), which statement shall be based in part upon information supplied by Sublandlord, and (ii) Tenant’s pro rata share an estimate of Operating Expenses (as hereinafter defined) for the Leased Premisesthen-current calendar year ("Estimated Expenses"). For purposes Subtenant shall pay Sublandlord on the first day of this Leaseeach month, Tenant’s pro rata share in advance, as Additional Rent, an amount equal to 1/12th of the amount, if any, by which the Estimated Expenses for the then current calendar year exceed the Operating Expenses for the Operating Expenses Base Year. Such payments shall not bear interest and may be commingled by Sublandlord with any other funds of Sublandlord. If the total amount paid by Subtenant in accordance with (ii) above on account of Operating Expenses shall be paid by Tenant in for any calendar year during the proportion that Sublease Term (i) exceeds the Rentable Area in amount due therefor as shown on Sublandlord's statement delivered after the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that end of such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount such excess shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of credited against the monthly payments made by Tenant exceeds installments of Additional Rent next due (or refunded to Subtenant if the amount of Operating Expenses due by Tenant under this sectionSublease Term has expired), the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant or (ii) is less than the amount due therefor as shown on Sublandlord's statement delivered after the end of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a such calendar year, then Subtenant shall pay the amount difference to Sublandlord within 30 days after receipt of any Additional Rent payable by Tenant applicable such statement from Sublandlord. Subtenant's rights and obligations under this Section 4(b) with respect to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the last calendar year to and including (or portion thereof) included in the Expiration Date bears to 365. Tenant Sublease Term shall have survive the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under expiration or termination of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueSublease.

Appears in 1 contract

Samples: Recognition and Attornment Agreement (Microsoft Corp)

Operating Expenses. Tenant agrees Personal property taxes, installment payments of special assessment liens, vault charges, sewer charges, utility charges, assessments or other charges imposed pursuant to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) Declaration or by the Association for the Leased Premises. For purposes year 2013, and normally prorated operating expenses actually paid or payable as of this Lease, Tenant’s pro rata share of Operating Expenses the Closing Date with respect to the Property shall be paid by Tenant in prorated as of the proportion Closing Date and adjusted against the Purchase Price, provided that within ninety (90) days after the Rentable Area in Closing, Purchaser and Seller will make a further adjustment for such taxes, charges and expenses affecting the Leased Premises (as set forth hereinabove) bears Property which may have accrued or been incurred prior to the total Rentable Area in Unit A and Landlord and Tenant agree Closing Date, but not collected or paid at that such pro rata share shall equal one hundred percent date. In addition, within ninety (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (490) months following days after the close of each calendar yearthe fiscal year(s) used in calculating the pass-through to the Tenant of operating expenses and/or common area maintenance costs under the Lease (where such fiscal year(s) include(s) the Closing Date), Landlord shall provide Seller and Purchaser shall, upon the request of either, re-prorate on a fair and equitable basis in order to adjust for the effect of any credits or payments due to or from the Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section includingfor periods prior to the Closing Date. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting All prorations shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate based on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of calendar days from in such year or month, as the commencement case may be. Notwithstanding the foregoing, personal property taxes, installment payments of special assessment liens, vault charges, sewer charges, utility charges, and operating expenses shall not be prorated with respect to any Property as to which the calendar year Tenant under the Lease is obligated to and including pay the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant same directly to the Additional Rent payable under this section upon reasonable notice provider thereof. Promptly following the Closing, Seller and Purchaser shall cooperate in transferring all utility and water and sewer accounts from Seller to Landlord, but not more than once each calendar yearPurchaser; however, if it being agreed that Seller shall be entitled to the audit correctly discloses an overpayment refund of any utility deposits made by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred Seller and No/100 Dollars ($500.00), Landlord shall pay Purchaser will be responsible for the reasonable cost of such audit. Tenant agrees to keep the results payment of any audit strictly confidential and pay deposits or security required by any Additional Rent due under utility provider. The provisions of this section within ten Section 5.4(d) shall survive the Closing for a period of three hundred sixty-five (365) days following receipt of the invoice or accounting showing Additional Rent dueClosing.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Fund Viii Lp)

Operating Expenses. In addition to Base Rent and other sums payable by Tenant agrees under this Lease, Tenant shall pay to pay Landlord, as Additional Rent, amounts for the Operating Expenses (except during defined below) for the applicable Free Rent Period) Tenant’s pro rata share Premises. Upon the Commencement Date, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term or as soon as practical thereafter, Landlord shall estimate the annual amount of 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 (as hereinafter definedl/12th) for of such estimated amount. In the Leased Premises. For purposes event that during any calendar year of this Leasethe Term, Tenant’s pro rata share Landlord determines that the actual amount of Operating Expenses for such year will exceed the estimate, Landlord may revise such estimate by written notice to 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 the difference between the initial monthly estimate and the revised monthly estimate multiplied by the number of months expired during such calendar year and shall also pay an amount equal to the revised monthly estimate for the month of such payment. Subsequent installments shall be paid by Tenant in payable concurrently with the proportion that regular monthly Base Rent due for the Rentable Area in balance of the Leased Premises (as set forth hereinabove) bears to calendar year and shall continue until the total Rentable Area in Unit A and next calendar year’s estimate is rendered or Landlord and Tenant agree that next revises such pro rata share shall equal estimate, whichever occurs sooner. Within one hundred percent twenty (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share 120) days following the end of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s or a reasonable discretion. Within four (4) months following the close of each calendar yeartime thereafter, Landlord shall provide Tenant with a written statement of the actual total Operating Expenses for such year and there shall be an accounting showing adjustment made to account for any difference between the amounts paid by Tenant and the actual amount of such Operating Expenses. If Tenant has overpaid, Landlord shall, provided Tenant is not in reasonable detail all computations default hereunder, credit such overpayment to Tenant’s account. If Tenant has underpaid, 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. Unless Tenant objects in writing regarding specific discrepancies in the Operating Expenses calculations for any calendar year within ninety (90) days 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. “Operating Expenses” means Real Property Taxes (defined below), Landlord’s insurance premiums set forth in Section 7.1 and Landlord’s total costs for roof replacement as set forth in Section 8.1 to the extent the cost of such roof replacement is amortized over the useful life of such capital item, in each case with interest on the unamortized balance at a rate of ten percent (10%) per annum. As part of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, also pay a monthly property management fee equal to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five four percent (54%) of monthly Operating Expenses or and Base Rent (bduring the Abated Rent Period, such fee shall be equal to four percent (4%) Five Hundred of monthly Base Rent as though Base Rent was Twenty Thousand and No/100 Dollars ($500.0020,000.00) per month), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Eastside Distilling, Inc.)

Operating Expenses. In addition to the Base Rent payable by Tenant, Tenant agrees will pay to pay Landlord, as Additional Rentadditional rent, (except during an amount equal to the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (increase in operating expenses, as hereinafter defined) , for each of the lease years over the operating expenses, for the Leased Premises. For purposes of this Leasefirst lease year (October 1, 1997, through September 30, 1998, hereinafter referred to as the Base Lease Year) times 45% (Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%'s Proportionate Share). Lease Year shall mean the period beginning October 1 of each year and ending on September 30 of the following year. The additional rent due pursuant to this section is hereinafter referred to as Operating Rent. During September of each year, or as soon after September as practicable, Landlord may invoice will give Tenant monthly notice of Landlord's estimate of any Operating Rent due for Tenant’s pro rata share the next Lease Year. The Tenant will pay 1/12th of the estimated Operating Expenses for each calendar year, which amount shall be adjusted Rent at the time Base Rent is payable. The estimated Operating Rent payments will begin October 1 of each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionand continue through September 30 of the following year. Within four (4) months following As soon as practicable after the close end of each calendar yearLease Year, Landlord shall provide will deliver to Tenant an accounting showing in reasonable detail all computations a statement of the actual Operating Expenses due under this section includingRent for that Lease Year. In the event the accounting If Landlord's statement shows that Tenant owes an amount that is less than the total of the monthly estimated Operating Rent payments made by Tenant exceeds the amount of Operating Expenses due for such Lease Year, Landlord will credit such excess first against any sums then owed by Tenant under this section, to Landlord and then against the accounting shall be accompanied by a refundnext payments of rental. In the event the accounting If Landlord's statement shows that Tenant owes more than the total of the monthly estimated Operating Rent payments made by Tenant is less than for such Lease Year, Tenant will pay the amount deficiency to Landlord within thirty (30) days after delivery of the statement. The termination of this Lease will not affect the obligations of Landlord and Tenant pursuant to this section be performed after termination. "Operating Expenses due by Tenant under this sectionexpenses" are defined as all direct expenses of operating and maintaining the land, the accounting shall be accompanied by an invoice building, and Premises in a manner deemed reasonable and appropriate and for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement best interest of the calendar year to and including tenants in the Expiration Date bears to 365. Tenant shall have the rightbuilding, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlordincluding, but not more than once each calendar year; howeverlimited to, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.following:

Appears in 1 contract

Samples: Lease (Ruby Tuesday Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of 1997 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for such excess operating expenses. However, notwithstanding any provision to the Leased Premises. For purposes of contrary in this Lease, Tenant’s pro rata Lessee's prorata share of Operating Expenses such operating expenses other than taxes, insurance and utilities shall be paid not increase by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred more than seven percent (1007%)) per year over the base year during the term of the Lease or any renewal thereof. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) three months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described aboveduring normal business hours, to audit Landlord’s and photocopy Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Intelect Communications Systems LTD)

Operating Expenses. Tenant If Lessor's Operating Expenses for the Building divided by the net rentable area in the Building, which is hereby stipulated to be 329,178 square feet ("Lessor's Operating Expenses per square foot"), in any calendar year during the term of this Lease exceed the operating Expense Base, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata additional monthly rent Lessee's share of such excess Operating Expenses. The term "Lessee's share of such excess Operating Expenses" means (a) the amount by which Lessor's Operating Expenses per square foot exceed the Operating Expense Base, multiplied by (as hereinafter definedb) for the number of net rentable square feet in the building comprising the Leased Premises, which is hereby stipulated to be 53,232 square feet. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's share of the estimated Operating Expenses excess operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexcess operating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor's right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Lessor, within one (1) year following the termination date, shall have the option to invoice Lessee for Lessee's share of the excess operating expenses for the year of termination. If this Lease shall commence or terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such commencement or termination shall occur shall be prorated on the ratio that the number of days from the commencement date to the end of the calendar year or from the commencement of the calendar year to and including the Expiration Date termination date, as applicable, bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s during Lessor's regular business hours Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; howeverSection. In addition, if the Lessee's audit correctly discloses reveals an overpayment by Tenant overcharge of more than the greater of (a) five percent (5%) of Lessee's share of the excess Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)Expenses, Landlord then Lessor shall on demand pay for the reasonable cost costs of such the audit. Tenant Notwithstanding anything to the contrary contained in this Lease, if the Building is not occupied to the extent of ninety-five percent (95%) of the rentable area thereof, during any calendar year, Lessee's additional rent under this Section and the operating expenses shall be determined as if the Building had been occupied to the extent of ninety-five percent (95%) of the rentable area during such year. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Amen Properties Inc)

Operating Expenses. In addition to Base Rent payable under paragraph 3.1 above, Tenant agrees to pay as Additional RentRent its pro-rata share of the "Operating Expenses" (hereinafter defined) for the Building and, (except during to the applicable Free Rent Period) Tenant’s pro extent applicable, to the Property. The pro-rata share of Operating Expenses (as hereinafter defined"Share") for to be paid by Tenant shall be 11.55% (198,144 divided by 1,715,000) of the Leased PremisesOperating Expenses. For purposes of this Lease, Tenant’s pro rata share 's Share of Operating Expenses shall include no less than $.40 per square foot per year (which amount consists of $.23 per square foot for Real Property Taxes [as herein defined], $.07 per square foot for insurance and $.10 per square foot for common area maintenance charges) and an additional amount for Tenant's use of the telephone system in the Building. Landlord shall deliver monthly invoices to Tenant for Tenant's Share of Operating Expenses, and such invoices shall be due and payable within ten (10) days of receipt. From time to time during the Term, Landlord shall send a statement of Operating Expenses to Tenant for any portion of the Term that has expired providing in reasonable detail a statement of all Operating Expenses incurred in the operation of the Property along with the amount representing Tenant's Share thereof. Tenant shall be given a credit against its Share of future Operating Expenses payable for any overpayment of Operating Expense that have been paid up to the time of said statement. If Tenant has underpaid, then the balance due shall be paid to Landlord by Tenant within thirty (30) days of the date of said statement unless the statement is rendered at the end of the Term in which case any overage due the Landlord will be paid by Tenant in check at the proportion that the Rentable Area in time the Leased Premises (as set forth hereinabove) bears are delivered to Landlord by Tenant. Concurrent with the total Rentable Area in Unit A invoice described above, Landlord shall also provide an estimate of the Operating Expenses and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share a statement of the estimated monthly Operating Expenses Expense payable by Tenant as additional rent under the terms of this Lease. Tenant's liability for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations its Share of Operating Expenses due under this section including. In shall commence on the event the accounting shows that the total date of Tenant's actual occupancy of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionLeased Premises, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable without regard to the year in which such termination shall occur shall be prorated on date the ratio that the number payment of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Base Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duecommences.

Appears in 1 contract

Samples: Space Lease Agreement (Excal Enterprises Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $ Base Year 1997 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described aboveexpense, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice section. Lessee agrees to Landlordpay any additional rent due under this section. With respect to such audit, but not more than once each calendar year; howeverLessee 1) may review Lessor's books during office hours, if 2) must perform such audit at the location of Lessor's books, 3) must request such audit correctly discloses an overpayment by Tenant within thirty (30) days of more than receipt of it's annual reconciliation of operating expenses, 4) must deliver to Lessor a copy of the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost results of such audit, 5) may not audit the same calendar year more than one time and 6) may only audit Lessor's books should Lessee's share of excess operating expenses increase from the previous calendar year. Tenant Assignees of Lessee may only audit periods for which they occupy the leased premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Terms (Techdyne Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operation expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Terms (Fair Isaac & Company Inc)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) Tenant’s Lessee's pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor's Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set- off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses. As of the date hereof, it is estimated that the Operating Expenses, taxes and insurance for calendar year 2000 will be approximately $2.20 per rentable square foot. Lessor agrees that the Lessee's portion of the Operating Expenses determined in Landlord’s reasonable discretionfor common area maintenance, less costs of utilities, costs required to meet applicable laws, and capitalized costs of capital improvements and operating efficiency devices, will not exceed seventy- eight cents ($.78) per rentable square foot during the first year of the Term (the "Base Amount"), and will not increase for any year by more than five percent (5%) per year (cumulative) over the Base Amount. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundcredited against the next required payment of base rent. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and expense, to audit Lessor's books relevant to the additional rent payable under this Section. With respect to such audit, Lessee 1) may review Lessor's books during office hours, 2) must perform such audit at the location of Lessor's books, 3) must request such audit within six (6) months after Tenant receives of receipt of its annual reconciliation of Operating Expenses, 4) must deliver to Lessor a copy of the accounting described aboveresults of such audit, to 5) may not audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not same calendar year more than once each calendar year; howeverone time. If, if as a result of such audit, it is determined that the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses have been overstated by 3% or (b) Five Hundred and No/100 Dollars ($500.00)more, Landlord Lessor shall pay be required to reimburse Lessee for the reasonable cost costs of such audit. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (American Telesource International Inc)

Operating Expenses. Operating Expenses shall be defined as the sum of (i) Operating Costs, as defined in Article V, Section 1 of the Prime Lease, (ii) Real Estate Taxes, as defined in Article V, Section 4 of the Prime Lease, and (ii) the costs of Sublandlord's Maintenance Obligations, as defined in Section 10 hereof. If, with respect to any calendar year during the Sublease Term after the Operating Expenses Base Year (Which shall be defined as calendar year 1996), the aggregate amount of Operating Expenses exceeds the Operating Expenses for the Operating Expenses Base Year; Tenant agrees shall pay to pay Landlord, as Additional Rent, the entire amount of such excess. Tenant's obligation under this Section 4(b) shall be prorated for partial calendar years at the beginning or end of the Term. After the end of each calendar year included in the Sublease Term, Sublandlord shall send Subtenant a statement showing Operating Expenses (except during i) for the applicable Free Rent Period) Tenant’s pro rata share calendar year just ended ("Actual Expenses"), which statement shall be based in part upon information supplied by Sublandlord, and an estimate of Operating Expenses (as hereinafter defined) for the Leased Premisesthen-current calendar year ("Estimated Expenses"). For purposes Subtenant shall pay Sublandlord on the first day of this Leaseeach month, Tenant’s pro rata share in advance, as Additional Rent, an amount equal to 1/12th of the amount, if any, by which the Estimated Expenses for the then current calendar year exceed the Operating Expenses for the Operating Expenses Base Year. Such payments shall not bear interest and may be commingled by Sublandlord with any other funds of Sublandlord. If the total amount paid by Subtenant in accordance with (ii) above on account of Operating Expenses shall be paid by Tenant in for any calendar year during the proportion that Sublease Term (i) exceeds the Rentable Area in amount due therefor as shown on Sublandlord's statement delivered after the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that end of such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount such excess shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of credited against the monthly payments made by Tenant exceeds installments of Additional Rent next due (or refunded to Subtenant if the amount of Operating Expenses due by Tenant under this sectionSublease Term has expired, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant or (ii) is less than the amount due therefor as shown on Sublandlord's statement delivered after the end of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a such calendar year, then Subtenant shall pay the amount difference to Sublandlord within 30 days after receipt of any Additional Rent payable by Tenant applicable such statement from Sublandlord. Subtenant's rights and obligations under this Section 4(b) with respect to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the last calendar year to and including (or portion thereof) included in the Expiration Date bears to 365. Tenant Sublease Term shall have survive the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under expiration or termination of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueSublease.

Appears in 1 contract

Samples: Recognition and Attornment Agreement (Microsoft Corp)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of the actual 1995 Base Year Operating Expenses (the "Base Year Expense Stop"), Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant the Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears termination date and its relationship to three hundred sixty-five (365) days. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Bollinger Industries Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Digital River Inc /De

Operating Expenses. (i) ESTIMATED PAYMENTS. Commencing on the Commencement Date and continuing throughout the entire Term, Tenant agrees to shall pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share 's Percentage Share of all Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Leasepaid or payable by Landlord in each year; provided, Tenant’s pro rata share of Operating Expenses however, that Tenant shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal pay one hundred percent (100%). Landlord may invoice Tenant monthly for ) of those Operating Expenses arising from Landlord's performance of its obligations under PARAGRAPHS 17.A and Tenant’s pro rata share 's obligations under PARAGRAPH 17.D. Before commencement of the estimated Operating Expenses Term and during December of each calendar year or as soon thereafter as practicable, Landlord shall give Tenant notice of its estimate of amounts payable under this PARAGRAPH 5.D.(i) for the ensuing calendar year. Such notice shall show in reasonable detail the basis on which the estimate was determined. On or before the first day of each month during the ensuing calendar year, which amount Tenant shall be adjusted each pay to Landlord one twelfth (1/12th) of such estimated amounts, provided that if such notice is not given in December, Tenant shall continue to pay on the basis of the prior year's estimate until the month after such notice is given. If at any time or times it appears to Landlord, in its reasonable judgment, that the amounts payable under this PARAGRAPH 5.D.(i) for the current calendar year based upon anticipated Operating Expenses determined will vary from its then-current estimate by more than five percent (5%),Landlord may, in Landlord’s reasonable its sole discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting by notice to Tenant, showing in reasonable detail all computations of Operating Expenses due under this section includingthe basis for such variance, revise its estimate for such year, in which case subsequent payments by Tenant for such year shall be based upon such revised estimate. In Landlord's election not to give the event notice described in the accounting shows that foregoing sentence shall not affect Landlord's ability to charge Tenant for, nor Tenant's liability to pay for, any shortfall in the total of the monthly estimated payments for such calendar year previously made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionTenant, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year set forth in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00PARAGRAPH 5.D.(ii), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease (Communication Telesystems International)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premises. For purposes building and/or project of this Leasewhich the leased premises are a part, Tenant’s except that Lessee's pro rata share of Operating for Controllable Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears limited to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred an increase of no more than six percent (1006%) from the previous calendar year. Controllable Expenses shall mean those expenses for which the Lessor contracts for services at a negotiated price or rate for services (including professional property management fees). Landlord Non-Controllable Expenses shall include all other expenses. Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. The current estimate of Lessee's share of operating expenses is Two and 60/100 Dollars ($2.60) per square foot of the leased premises which shall be paid in addition to and along with base rent. Lessee's prorated share of the projects operating expenses shall be 15.20%.

Appears in 1 contract

Samples: Commercial Lease Agreement (Hathaway Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of the Operating Expenses (as hereinafter defined) of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four one hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Fieldworks Inc

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may shall invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four three (43) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account or accompanied by a check from Landlord for such excess for the last calendar year of this Lease. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article I and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Research Inc /Mn/)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each once per year by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's next rental due. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall invoice Tenant for Tenant's pro rata share of the then current estimate for operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement Commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Within ninety (90) days of receipt of the operating expense reconciliation for the previous year, Tenant shall have the right to audit Landlord's books and records as they pertain to operating expenses for the immediate preceding calendar year, in Landlord's office and with reasonable notice. If Tenant does not provide notice to Landlord within ninety (90) days of its intent to audit, Tenant shall automatically waive and release its right to audit for the preceding calendar year. The cost of said audit shall be borne by Tenant unless the audit discloses that Tenant has overpaid its proportionate share of operating expenses for the calendar year in question by more than five percent (5%), in which case the reasonable expense of the audit shall be borne by Landlord. If the audit reveals that Landlord's actual statement was incorrect in any amount, the resulting excess or deficiency shall be paid by or reimbursed to Tenant as the case may be. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the net rentable area of the Premises as set forth and the denominator of which shall be the net rentable area of the completed portions of the building (i.e., the fifth floor will be excluded from this computation until completed), as the same may change from time to time.

Appears in 1 contract

Samples: Norstan Inc

Operating Expenses. Tenant agrees Landlord shall determine or estimate th Operating Expenses for the calendar year in which the Occupancy Date occurs. Beginni of the amount estimated by Landlord to pay be Tenant's Percentage Share of Operating Expe Landlord, as Additional Rent, (except during on the applicable Free Rent Period) first day of each calendar month remaining in th estimate such increases to Tenant’s pro rata share 's Percentage Share of Operating Expenses as of the Tenant to pay one-twelfth (1/12) of such estimated amount as hereinafter defined) for Additional Rent hereunde month. In the Leased Premises. For purposes event that during the course of this Lease, Tenant’s pro rata share any calendar year Operating Expenses have i the amount of Operating Expenses shall estimated by Landlord at the commencement of that ca amount of the monthly estimated payments to be paid by Tenant in order to take into a from Landlord of any such increase, Tenant shall pay the proportion full amount of the recalcula remainder of the subject calendar year. In making the aforesaid recalculation, Landl Landlord for any increased Operating Expenses applicable to that portion of the Rentable Area subje of Landlord's notice. Not later than ninety (90) days following any calendar year (including the year fo terminates), Landlord shall furnish Tenant with a true and correct accounting of the in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each preceding calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in and within thirty (30) days of Landlord’s reasonable discretion. Within four (4) months following the close 's delivery of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment underpayment by Tenant of more than Tenant's Percentage Share of Operating Ex by Landlord to give such accounting shall not constitute a waiver by Landlord of its Operating Expenses or any underpayment by Tenant thereof. Landlord shall credit the greater next estimated installment(s) of (a) five percent (5%) Tenant's Percentage Share of Operating Expenses or or, terminated (b) Five Hundred and No/100 Dollars ($500.00other than due to a default by Tenant), Landlord shall pay for refund the reasonable cost amount of overpa obligation upon Tenant to demand such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duerefund from Landlord.

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Operating Expenses. Tenant agrees to pay as Additional RentIn the event that Lessor's Operating Expenses for the Building and/or Project of which the Leased Premises are a part shall, (except in any calendar year during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes term of this Lease, Tenant’s pro rata exceed the sum of the calendar year 1999 operating expenses per rentable square foot, Lessee shall pay, as additional rent, Lessee's prorata share of such excess Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's prorata share of the estimated incurred Operating Expenses for each calendar year, which amount shall be adjusted each year by Lessor based upon reasonable anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four five (45) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee with an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection 2.03. In the event the that Lessor's accounting shows that the total of the monthly estimated payments made by Tenant Lessee exceeds the actual amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection 2.03, the accounting then so long as Lessee is not in default hereunder, Lessee's account shall be accompanied by a refundcredited with such amount. In the event the that Lessor's accounting shows that the total of the monthly estimated payments made by Tenant Lessee is less than the actual amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection 2.03, then the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provision in this Lease, during the year in which the Expiration Date or sooner termination of the Lease occurs, Lessor shall have the option to invoice Lessee for Lessee's prorata share of the excess Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within a reasonable time, to audit Lessor's books relevant to the additional rent payable under this Section 2.03 Lessee may, upon not less than thirty (30) days prior written notice to Lessor, inspect Lessor's records for all Operating Expenses incurred during the preceding year at Lessor's general offices at such other location reasonably designated by Lessor at any time during reasonable business hours within six (6) months after Tenant receives the accounting described aboveend of said year. If said inspection reveals an overpayment of Operating Expenses, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not Lessor shall reimburse Lessee its proportionate share of any such overpayment within thirty (30) days after receipt of proper billing. If said inspection reveals that Lessor misstated Operation Expenses and insurance expenses by more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%), Lessor shall reimburse Lessee for all costs reasonably incurred in making such inspection within thirty (30) days after receipt of notice of determination, and of the amount, of any such misstatement. Lessor's Operating Expenses or for any year shall be deemed correct if Lessee does not give Lessor written notice of discrepancy within ninety (b90) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost days of such auditreceipt of operating expense notice. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section 2.03 within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. The Operating Expenses that vary with occupancy and that are attributable to any part of the term in which less than one hundred percent (100%) of the rentable area of the Building is occupied by lessees will be adjusted by Lessor to the amount Lessor reasonably believes such expenses would have been ninety-five percent (95%) of the rentable area of the Building had been occupied. For purposes of determining Operating Expenses for the calendar year 1999, the real estate taxes will be those imposed on the first year in which the building is fully assessed as a completed building.

Appears in 1 contract

Samples: New Era of Networks Inc

Operating Expenses. If Landlord's Operating Expenses for the Property divided by the total number of square feet in the Building ("Landiord's Operating Expenses per square foot"), in any calendar year during the term of this Lease, exceed the Operating Expense Base, Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata 's share of such excess Operating Expenses. As used herein, the term "Tenant's share of such excess Operating Expenses" means (a) the amount by which Landlord's Operating Expenses per square foot exceed the Operating Expense Base, multiplied by (as hereinafter definedb) for the square feet comprising the Leased Premises. For purposes of this LeaseNotwithstanding any contrary provision, Tenant’s pro rata share of if the Building is not fully occupied during any calendar year, Operating Expenses and Tenant's Additional Rent based thereon shall be paid by Tenant in determined as if the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that Building had been 95% occupied during such pro rata share shall equal one hundred percent (100%)year. Landlord may invoice may, by so notifying Tenant, require Tenant to pay monthly for Tenant’s pro rata 's share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following Following the close of each calendar year, Landlord shall provide Tenant an accounting itemized statement showing in reasonable detail all computations of Operating Expenses Additional Rent due under this section includingArticle. In If the event the accounting itemized statement shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent due by Tenant under this sectionArticle, the accounting itemized statement shall be accompanied by a refundcredit to Tenant's account. In If the event the accounting itemized statement shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses Additional Rent due by Tenant under this sectionArticle, Tenant shall pay to Landlord with next rental payment the accounting amount shown on the itemized statement as owing to Landlord. Notwithstanding any other provisions in this Lease, Landlord shall have the right, which can be accompanied by an exercised at any time within sixteen months after the termination date, to invoice Tenant, with respect to the year in which the Lease terminates, for Tenant's share of the excess Operating Expenses over the Operating Expenses due as Additional RentExpense Base. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days Article with the next rental payment following receipt of the invoice or accounting itemized statement showing Additional Rent due. In no event shall the Base Rent or other sums due under this Lease ever be reduced due to the operation of this Article 2.

Appears in 1 contract

Samples: Improvements Agreement (Developed Technology Resource Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the actual operating expenses per sq. ft. for the calendar year 1994, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses Lessor shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Lessee's pro rata share is 36.527%.

Appears in 1 contract

Samples: Lease Agreement (Styrochem International LTD)

Operating Expenses. Tenant agrees In addition to pay as Additional Base Rent, (except during Subtenant shall pay to Sublandlord the applicable Free Rent Period) Tenant’s pro rata Pro Rata share of all Operating Expenses and Taxes (as hereinafter defined) for those terms are defined in the Leased Premises. For purposes of this Master Lease), and all other additional rent and other charges, however described, payable under the Master Lease by Sublandlord, as tenant under the Master Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears with respect to the total Rentable Area in Unit A Subleased Premises or Subtenant’s use and Landlord occupancy thereof . Subtenant shall pay such amount within fifteen (15) days of receipt of an invoice therefore from Sublandlord. Sublandlord shall provide Subtenant with copies of Master Landlord’s statement as to Operating Costs and Tenant agree that such pro rata share shall equal one hundred percent (100%)Taxes. Landlord may invoice Tenant monthly for Tenant’s pro rata share With respect to any portion of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate Sublease Term not ending on a day other than the last day of a calendar year or fiscal year, the amount of any Additional Rent the Operating Costs and/or the Taxes payable by Tenant applicable to Subtenant shall be pro rated based on a 365 day year. Upon written request of Sublandlord, Subtenant shall make monthly payments equal to the year in Pro Rata share of one-twelfth of Master Landlord’s estimate of the Operating Costs and Taxes which such termination shall occur will be payable for the current year. Such payments shall be prorated on made monthly in advance together with the ratio that the number of days from the commencement payments of the calendar year Base Rent due hereunder. Any surplus shall be promptly refunded to Subtenant and including the Expiration Date bears any deficiency shall be promptly paid by Subtenant to 365. Tenant shall have the right, at its own expense Sublandlord once actual Operating Costs and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay Taxes for the reasonable cost of such auditapplicable period are finally determined. Tenant agrees to keep the results of any audit strictly confidential Subtenant responsibility for Operating Costs and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTaxes shall commence on September 1, 2002.

Appears in 1 contract

Samples: Sublease Agreement (Tripath Technology Inc)

Operating Expenses. In addition to Base Rent payable by Tenant agrees pursuant to Section 4, above, on the first day of each calendar month beginning after the Lease Commencement Date, Tenant shall pay to Landlord, as Additional Rent, (except without notice, demand, offset, or deduction, one-twelfth of all Operating Expenses for the calendar year in which the Lease Commencement Date occurs, and for each calendar year thereafter during the applicable Free Rent PeriodTerm, as estimated by Landlord in the most recently-delivered Estimated Statement (as defined below). Landlord shall deliver to Tenant, prior to the commencement of the Lease Commencement Date and prior to each anniversary of the Lease Commencement Date thereafter, a written statement (“Estimated Statement”) setting forth Landlord’s estimate of the Operating Expenses allocable to the ensuing calendar year (or portion thereof). Landlord may, at its option, during any such year (but no more than twice in any one calendar year), deliver to Tenant a revised Estimated Statement, revising Landlord’s estimate of the Operating Expenses in accordance with Lxxxxxxx’s most current estimate. No later than one hundred twenty (120) days after the end of each calendar year during the Term, Landlord shall deliver to Tenant a written statement (“Actual Statement”) setting forth the actual Operating Expenses allocable to such calendar year. Tenant’s pro rata share failure to object to Landlord regarding the contents of an Actual Statement, in writing, within one hundred twenty (120) days after delivery to Tenant of such Actual Statement shall constitute Tenant’s absolute and final acceptance and approval of the Actual Statement, except in the event Tenant is later able to prove fraud or intentional misrepresentation. Following Landlord’s receipt of Tenant’s written request, Landlord shall also provide Tenant with reasonable back-up information (e.g., tax bills, bills for utility costs, etc.) as well as explanations based on known costs and reasonable projections. If the sum of Tenant’s monthly payments actually paid by Tenant during any calendar year exceeds Tenant’s obligations for Operating Expenses allocable to such year as reflected in an Actual Statement, then such excess will be credited against Txxxxx’s future monthly payments of Operating Expenses, unless such year was the year during which the Term expires or is terminated (the “Last Calendar Year”), in which event either (i) such excess shall be credited against any monetary default or outstanding obligation of Tenant under this Lease, or (ii) if Tenant is not in default under this Lease and has no outstanding monetary obligations at such time, then Landlord shall pay to Tenant such excess within thirty (30) days after the expiration or termination of the Term. If the sum of Tenant’s monthly payments of Operating Expenses actually paid by Txxxxx during any calendar year is less than Tenant’s Proportionate Share of the actual Operating Expenses allocable to such year, then Tenant shall, within thirty (as hereinafter defined30) for days of delivery of the Leased PremisesActual Statement, pay to Landlord the amount of such deficiency. For purposes The references in this Section to the actual Operating Expenses allocable to a calendar year shall include, if such calendar year is the Last Calendar Year, the actual Operating Expenses allocable to the portion of such year prior to the expiration or termination of the Term, calculated on a pro rata basis, without regard to the date of a particular expenditure. The provisions of this Section shall survive the termination of this Lease, Tenant’s pro rata share and even though the Term has expired, and Tenant has vacated the Premises, when the final determination is made of Operating Expenses for the year in which this Lease terminates, which shall be within one hundred twenty (120) days after the end of such year, Tenant shall promptly pay any increase due over the estimated expenses paid by Tenant pursuant hereto and conversely any overpayment made in Tenant’s estimated payments shall be promptly rebated by Landlord to Tenant. Notwithstanding the foregoing, if Landlord fails to provide the Actual Statement within thirty (30) days after written notice from Tenant that Landlord did not deliver the Actual Statement by the applicable date set forth herein, Landlord shall not have the right to collect from Tenant any underpayment of Tenant’s Proportionate Share of Operating Expenses that may be determined for the period covered by such Actual Statement. Landlord shall not recover more than one hundred percent (100%) of the Operating Expenses actually incurred by Landlord and in the proportion event that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal collect more than one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionpromptly reimburse to Tenant, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount Txxxxx’s Proportionate Share of any Additional Rent payable by Tenant applicable such excess to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment extent paid by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTxxxxx.

Appears in 1 contract

Samples: Lease Agreement (Ionis Pharmaceuticals Inc)

Operating Expenses. In the event Landlord's operating expenses for the Building shall, in any calendar year during the Term, exceed the sum of those expenses accrued during the 1997 base year ("Excess Expenses") Tenant agrees to shall pay as Additional Rentadditional rent Tenant's Proportionate Share of Excess Expenses. In order to provide current payments on account of Excess Expenses Tenant shall, (except during at Landlord's request, pay as additional rent, an amount equal to Tenant's Proportionate Share of the applicable Free Rent Period) Tenant’s pro rata share of Operating Excess Expenses (as hereinafter defined) due for the Leased Premises. For purposes of this Leaseensuing twelve (12) months, Tenant’s pro rata share of Operating Expenses shall be paid as estimated by Tenant Landlord from time to time, in twelve (12) equal monthly installments, commencing on the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share first day of the estimated Operating Expenses for each calendar year, month following the month in which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionLandlord notifies Tenant of the amount. Within four (4) months following Following the close of each calendar year, Landlord shall provide Tenant an accounting with a statement showing in reasonable detail all computations of Operating Expenses due additional rent under this section includingsection. In the event the accounting shows that the total If Tenant's Proportionate Share of the actual Excess Expenses for the preceding calendar year exceeds the aggregate of the estimated monthly payments made by Tenant exceeds the amount of Operating Expenses due by for such year, Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total within thirty (30) days of the receipt of the statement, pay to Landlord as additional rent an amount equal to such excess. If such aggregate of the estimated monthly payments made exceeds Tenant's Proportionate Share of the actual Excess Expenses for such calendar year, Landlord shall credit against Tenant's next ensuing monthly installment or installments of the rent an amount equal to such difference until the credit is exhausted. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit to Tenant by reason of this provision. The obligations of Tenant is less than and Landlord to make payments or credits required by this provision shall survive the amount Termination Date. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, prior to the Termination Date, shall have the option to invoice Tenant for Tenant's Proportionate Share of Operating the Excess Expenses due by Tenant under this sectionbased upon the previous year's operating expenses; provided, that such invoicing shall not eliminate the accounting shall be accompanied by an invoice need for the Operating Expenses due as Additional Rentreconciliation and adjustment based on actual expenses for such year, when such expenses are known. If this the Lease shall terminate on a day other than the last day of a the calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur Each statement given by Landlord or the Building Manager pursuant to this section shall be prorated on conclusive and binding upon Tenant unless within ninety (90) days after receipt of such statement Tenant shall notify Landlord that it disputes the ratio correctness of the statement, specifying the particular respects in which it is claimed to be incorrect. If such dispute shall not have been settled by agreement, then, pending the legal determination of such dispute, Tenant shall pay additional rent in accordance with such statement and such payment shall be without prejudice to Tenant's position. If the dispute shall be determined in Tenant's favor, Landlord shall forthwith credit to Tenant the amount of Tenant's overpayment of additional rent resulting from compliance with Landlord's statement. Landlord shall keep complete and accurate books and records relating to "Operating Expenses", as defined below, for at least three (3) years after the end of the calendar year in which such Operating Expenses were incurred. Tenant may, at Tenant's initial expense, cause such books and records to be audited by an independent auditor satisfactory to Tenant for the purpose of determining the validity of any claim by Landlord for Excess Expenses, provided that Tenant shall notify Landlord of Tenant's election to conduct such an audit not later than ninety (90) days after the number of days from the commencement end of the calendar year to be examined. If any such audit determines that Landlord's claim for Excess Expenses for any calendar year exceeds the amount to which Landlord was properly entitled, then Landlord shall forthwith refund the excess, and including if the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not excess is more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five three percent (53%) of the amount properly due, then Landlord shall also pay the cost of the audit upon receipt of appropriate evidence of such cost. If during any calendar year of this Lease, the occupancy of the Building averages less than one hundred percent (100%), it is agreed that the Operating Expenses shall be recomputed as though the Building had been 100% occupied for such calendar year. In making such recomputation, no adjustment shall be made in Operating Expenses that typically do not vary based on occupancy, such as but not limited to real property taxes, insurance premiums and costs associated with landscaping and other exterior maintenance. Any dispute between Landlord and Tenant regarding Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord Excess Expenses shall pay for be resolved by binding arbitration in accordance with the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt commercial arbitration rules of the invoice or accounting showing Additional Rent dueAmerican Arbitration Association, and judgment on any arbitration award may be entered and enforced by any court of competent jurisdiction.

Appears in 1 contract

Samples: Sublease Agreement (Trizetto Group Inc)

Operating Expenses. Tenant agrees shall pay to pay Landlord, in the manner set forth in Section 8 below, and as Additional Rent, Tenant's Percentage Share of Operating Expenses attributable to Landlord's operation, management, repair and maintenance of the Building and the portion of Operating Expenses attributable to the operation, management, repair and/or maintenance of the developed Common Facilities of the Project (except during including, but not limited to, common detention ponds, the applicable Free Rent Periodcentral park area, Building and Project roads, Building and Project landscaping, etc.) Tenant’s allocated by Landlord to the Building based upon the Building's pro rata share of Operating Expenses thereof (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent is reasonably determined by Landlord) (100%collectively, "TENANT'S PERCENTAGE SHARE OF OPERATING EXPENSES"). Landlord may invoice shall not allocate to Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations any portion of Operating Expenses due under this section including. In the event the accounting shows that the total attributable to undeveloped portions of the monthly payments made by Tenant exceeds Project, developed portions of the amount Project held for lease (excluding the Building), or developed portions of the Project that are not Common Facilities. Tenant's obligation to pay Tenant's Percentage Share of Operating Expenses due by during the Term shall survive the expiration or any earlier termination of this Lease provided that Landlord invoices Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less for such amounts no later than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Renttwo (2) years after such expiration or early termination. If this Lease shall commence or terminate on a day other than the first or last day of a calendar year, respectively, the amount of any Additional Rent Tenant's Percentage Share of Operating Expenses payable by Tenant applicable to the for such calendar year in which such termination shall occur shall be prorated on the ratio that the number basis of days from the commencement a 365 day year and shall be due and payable when rendered notwithstanding termination of this Lease. Tenant's Percentage Share of Operating Expenses allocable to the calendar year in which this Lease commences or terminates shall be deemed to and including have been incurred evenly over the Expiration Date bears to 365entire twelve (12) month period of such calendar year. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant "TENANT'S PERCENTAGE SHARE" is a percentage equal to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt rentable square footage of the invoice or accounting showing Additional Rent duePremises divided by the rentable square footage of the Building (as set forth in the Basic Lease Information).

Appears in 1 contract

Samples: Office Lease (Allos Therapeutics)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premisesbuilding and/or project of which the leased premises are a part. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord Lessor shall provide Tenant an Lessee and accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in the Lease, during the year in which this Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent the additional rent due. The current estimate of Lessee's share of operating expenses is Two and 95/100 Dollars ($2.95) per square foot of the Leased Premises which shall be paid in addition to and along with base rent. Lessee's prorated share of the projects operating expenses shall be 6.31%.

Appears in 1 contract

Samples: Lease Agreement (Electric Fuel Corp)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) Tenant’s Lessee's pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor's Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set-off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses. As of the date hereof, it is estimated that the Operating Expenses, taxes and insurance for calendar year 2000 will be approximately $2.20 per rentable square foot. Lessor agrees that the Lessee's portion of the Operating Expenses determined in Landlord’s reasonable discretionfor common area maintenance, less costs of utilities, costs required to meet applicable laws, and capitalized costs of capital improvements and operating efficiency devices, will not exceed seventy-eight cents ($78) per rentable square foot during the first year of the Term (the "Base Amount"), and will not increase for any year by more than five percent (5%) per year (cumulative) over the Base Amount. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundcredited against the next required payment of base rent. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and expense, to audit Lessor's books relevant to the additional rent payable under this Section. With respect to such audit, Lessee 1) may review Lessor's books during office hours, 2) must perform such audit at the location of Lessor's books, 3) must request such audit within six (6) months after Tenant receives of receipt of its annual reconciliation of Operating Expenses, 4) must deliver to Lessor a copy of the accounting described aboveresults of such audit, to 5) may not audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not same calendar year more than once each calendar year; howeverone time. If, if as a result of such audit, it is determined that the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses have been overstated by 3% or (b) Five Hundred and No/100 Dollars ($500.00)more, Landlord Lessor shall pay be required to reimburse Lessee for the reasonable cost costs of such audit. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Globalscape Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rentadditional rent commencing on the Commencement Date, (except during the applicable Free Rent Period) Tenant’s Xxxxxx's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Xxxxxx's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date Including such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Xxxxxx agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1, subject to adjustment as provided in this Lease, and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Xata Corp /Mn/)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during additional rent commencing on the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this LeaseCommencement Date, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that operating expenses of Landlord for the Rentable Area in Building and/or project of which the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year by Landlord upon no less than thirty (30) days notice to Tenant based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four ninety (490) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1, subject to adjustment as provided in this Lease, and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Vascular Solutions Inc)

Operating Expenses. Tenant agrees Lessee shall pay to Lessor any increase in the Operating Expenses above the Base Year Operating Expenses incurred in subsequent calendar years of the term as additional Rent. Lessor will notify Lessee of any increase in actual Operating Expenses above the Base Year Operating Expenses, together with a detailed written explanation of the increase, after the conclusion of the calendar year in which such Operating Expenses were incurred. Within thirty (30) days after receipt of such notice, Lessee will pay as Additional Rentthe increased amount to Lessor, subject to Lessee's right of audit set forth below. If Lessor projects Operating Expenses for any coming calendar year after 1997 to be in excess of the Base Year Operating Expenses, Lessor may notify Lessee of its projections, with a detailed explanation of the increase, and Lessee will pay the estimated projected excess in advance in equal monthly installments. If Lessor exercises its right to project estimated Operating Expense increases over the Base Year Operating Expenses and collect for such projected increases over the calendar year in which the expenses are incurred, Lessor shall provide Lessee with a detailed written statement of the actual Operating Expenses paid for such year, within sixty (except 60) days of the end of the such year. Any overpayment by Lessee based on the projections will be credited to Lessee's account for the coming year or if paid during the applicable Free Rent Period) Tenant’s pro rata share last year of the Lease term, refunded upon termination of this Lease. Lessee shall have the right to conduct an audit of Operating Expenses pertaining to a particular calendar year at any time until the 90th day following Lessee's receipt of a written statement from Landlord setting forth the actual Operating Expenses incurred or paid for such calendar year. Lessee shall give Lessor ten (as hereinafter defined10) days prior written notice to conduct an audit of the Operating Expenses. If the results of such audit show that the Lessee's charges have been overstated, Lessor shall refund immediately any balance due Lessee and, if the audit determines that the amount charged to Lessee was overstated by three percent (3%) or more, Lessor shall reimburse Lessee for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share cost of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentaudit. If this Lease shall the term hereunder does not terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur Operating Expenses shall be prorated on pro rated based upon Lessee's occupancy during the ratio that the number of days from the commencement of the final calendar year on a per diem basis. It is acknowledged and agreed that if Lessee files a timely objection to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of any excess in Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)as a result of an audit, Landlord Lessee shall not be in default hereunder for failure to pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueexcess.

Appears in 1 contract

Samples: Real Estate Lease (Analytical Surveys Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the Building and/or project of which the Leased Premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of BASE YEAR 1998, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. If the additional rent due exceeds $4,500.00, Lessee may pay such amount in two equal payments with the first such payment being due within thirty (30) days after receipt of invoice and the second payment due thirty (30) days thereafter.

Appears in 1 contract

Samples: Lease Agreement (Ivg Corp)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of 1997 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for such excess operating expenses. However, notwithstanding any provision to the Leased Premises. For purposes of contrary in this Lease, Tenant’s pro rata Lessee's prorata share of Operating Expenses such operating expenses other than taxes, insurance and utilities shall be paid not increase by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred more than seven percent (1007%)) per year over the base year during the term of the Lease or any renewal thereof. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expense. Within four (4) three months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described aboveduring normal business hours, to audit Landlord’s and photocopy Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Teraforce Technology Corp)

Operating Expenses. In addition to Base Rental, Tenant agrees to shall also pay as Additional RentTenant's Prorata Share of the amount, (except during the applicable Free Rent Period) Tenant’s pro rata share of if any, by which Operating Expenses (as hereinafter defined) during any calendar year of the Lease Term after the Base Year of 2002 exceed the Operating Expenses of the Base Year; provided, however, that Tenant shall not pay additional rent for excess Operating Expenses for the Leased Premisescalendar year 2003. For purposes of this LeaseNotwithstanding anything to the contrary, Tenant’s pro rata share 's obligation for the payment of Controllable Operating Expenses shall be paid by Tenant capped so as not to exceed an annual increase from the immediately preceding year in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree excess of 8% per annum cumulatively; provided that such pro rata share increase for the year 2004 shall equal one hundred percent (100%)be based on an increase over the Base Year. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar yearshall, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four within nine (49) months following the close of each any calendar year, Landlord shall year provide a statement to Tenant an accounting showing in reasonable detail all the computations of the additional rent due for Operating Expenses due under this section including. In Expenses, if any (the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section"Statement"), the accounting which shall be accompanied by a refund. In due thirty (30) days after the event the accounting shows that the total receipt of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentsuch Statement. If this Lease shall terminate on a day other than the last day of a the calendar year, the amount of any Additional Rent additional rental payable by Tenant applicable to the year in which such termination shall occur shall be prorated based on the ratio that the number of days from the commencement of the such calendar year to and including the Expiration Date such termination date bears to 365. If at any time after calendar year 2003, Landlord has reason to believe the per square foot Operating Expenses for the calendar year will exceed the Operating Expenses for the Base Year, Landlord may by invoice direct Tenant to prepay monthly one-twelfth of an amount equal to (i) an estimate of the additional rent due under this paragraph for the current year, or (ii) the amount paid in the previous calendar year. If the Statement shows an amount owing by Tenant that is less than the sum of the monthly payments made by Tenant in the previous calendar year, the Statement shall be accompanied by a refund of the excess from Landlord to Tenant (or, at Landlord's option, Landlord may apply such overpayment against rentals due hereunder). During the year in which this Lease terminates, Landlord shall have the rightoption to invoice Tenant for Tenant's Prorata Share of the excess Operating Expenses based upon the previous year's excess Operating Expenses; Landlord shall invoice Tenant under this option either prior to the termination of this Lease or within thirty (30) days thereafter. Landlord shall refund to Tenant, within thirty (30) days after the termination of this Lease, any excess amounts paid by Tenant during the final year or partial year of the Lease Term, as the case may be. Initials: SK ------ Audit Rights. Tenant, at its own expense any time within one (1) year after receipt of any Statement, and within six upon no less than thirty (630) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable days prior written notice to Landlord, but not more than once each calendar year; however, if may cause an audit to be made of Landlord's books and records relating to Operating Expenses. Landlord shall make available for the audit correctly at Landlord's office in Dallas, Texas, all applicable books and records. If the audit discloses an overcharge of Operating Expenses by Landlord, Landlord shall within thirty (30) days pay to Tenant the amount of the overpayment. If the audit discloses an overpayment by Tenant in excess of more than the greater of (a) five percent (5%) of the Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)actually paid by Tenant, then Landlord shall also immediately pay for to Tenant all reasonable costs and expenses incurred in the reasonable cost audit. If the audit discloses an underpayment of Operating Expenses actually paid by Tenant, then Tenant shall, within thirty (30) days after the conclusion of such audit. Tenant agrees , pay to keep Landlord the results amount of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duesuch underpayment.

Appears in 1 contract

Samples: Office Lease Agreement (Interphase Corp)

Operating Expenses. Tenant agrees All utility expenses for gas, water, electricity, heat, fuel, sewer and other utilities relating to pay the Property shall be the responsibility of Seller through the day before the Closing, based on final readings done as Additional Rentof the day before the Closing, and Purchaser shall be responsible for all such utility expenses accruing on and after the Closing, and there shall be no other proration of such utility expenses. All insurance premiums under Seller's existing policies relating to the Property shall be Seller's responsibility through the day before the Closing, and, there shall be no proration of such insurance premiums; none of Seller's insurance policies (or any proceeds payable thereunder, except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this LeaseEnvironmental Policy and except as expressly provided for in SECTION 14 below) will be assigned to Purchaser at the Closing, Tenant’s pro rata share of Operating Expenses and Purchaser shall be paid by Tenant in solely obligated to obtain any and all insurance that it deems necessary or desirable. All payments under the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount Service Contracts shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close responsibility of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than Seller through the last day of the calendar month in which the Closing occurs, with Purchaser responsible for all amounts thereafter accruing under the Service Contracts, and there shall be no other proration of amounts payable under the Service Contracts. Seller shall receive a credit at the Closing in an amount equal to the Pre-Closing Allocable Share (defined below) of amounts payable under the Leases in calendar yearyear 2001 as "pass-throughs" or reimbursements for common area maintenance costs, taxes and assessments and insurance premiums and other operating expenses relating to the Property. As used in this SECTION 11, the amount "PRE-CLOSING ALLOCABLE SHARE" will be a fraction, the numerator of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that is the number of days from the commencement of the in calendar year 2001 occurring up to and but not including the Expiration Date bears to Closing and the denominator of which is 365. Tenant Purchaser shall have receive a credit at the right, at its own expense and within six (6) months after Tenant receives Closing in the accounting described above, amount equal to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Two Million Dollars ($500.00)2,000,000) for certain leasing commissions, Landlord tenant improvement costs, capital expenditures and deferred maintenance on the Property not described on EXHIBIT H attached hereto. The parties hereto agree that Purchaser shall pay not assume the responsibility for the reasonable cost salaries or other payments due to the nine (9) employees of DDRES that are currently working at the Property, as such audit. Tenant agrees employees shall be terminated by Seller prior to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueClosing.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Burnham Pacific Properties Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rentadditional rent Tenant’s Pro Rata Share of the Operating Expenses of Landlord for the Building of which the Premises are a part. Landlord shall, (except on or before December 31st of each calendar year during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Term of this Lease, Tenant’s pro rata share give Tenant an estimate of the Operating Expenses payable per square foot of rentable area for the next calendar year. Tenant shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises pay, as additional rent, along with its monthly Base Rent, one-twelfth (as set forth hereinabove1/12) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that of such pro rata share shall equal one hundred percent (100%)estimated Operating Expenses. Landlord may invoice Tenant monthly for Tenant’s pro rata share Pro Rata Share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting prepared in accordance with Generally Accepted Accounting Principals (GAAP) showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.9 shall be equal to a percentage based upon a fraction, the numerator of which is the rentable square feet of space in the Premises as set forth in Section 1.2 and the denominator of which shall be the rentable square feet of space in the Building as set forth in Section 1.2.

Appears in 1 contract

Samples: Lease Agreement (Enpath Medical Inc)

Operating Expenses. If Landlord's Operating Expenses per net rentable square foot for the Property, in any calendar year during the Term of this Lease exceed the Operating Expense Base, Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata 's share of such excess operating expenses. As used herein, the term "Tenant's share of such excess Operating Expenses" means the amount by which Landlord's Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Operating Expense Base, multiplied by the net rentable square feet comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata 's share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four one hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event If the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, within one (1) year following the termination date, shall have the option to invoice Tenant for Tenant's share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit during Landlord’s 's regular business hours Landlord's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice Section. Notwithstanding anything to Landlord, but not more than once each calendar year; howeverthe contrary contained in this Lease, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)Building is not fully occupied during any calendar year, Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due Tenant's additional rent under this section Section within ten thirty (30) days following receipt of the invoice Invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (FWT Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.