Reconciliation Statement if, as a result of any change in accounting principles and policies from those used in the preparation of the financial statements, the financial statements of the Company and its consolidated Subsidiaries delivered pursuant to subsections (b), (c) or (f) of this Section 7.1 differ in any material respect from the financial statements that would have been delivered pursuant to such subsections had no such change in accounting principles and policies been made, then, together with the first delivery of financial statements pursuant to subsection (b), (c) or (f) following such change, financial statements of the Company and its consolidated Subsidiaries prepared on a pro forma basis, for (i) the current year to the effective date of such change and (ii) the one full fiscal year immediately preceding the fiscal year in which such change is made, as if such change had been in effect during such period;
Reconciliation Statement. Each calendar year, Landlord shall furnish to Tenant a statement of Operating Expenses, and of the Real Property Taxes for the previous year (the “Reconciliation Statement”). If Tenant’s estimated payments of Operating Expenses or Real Property Taxes for the year covered by the Reconciliation Statement exceed Tenant’s Share of such items as indicated in the Reconciliation Statement, then Landlord shall reimburse Tenant for such excess within 30 days; likewise, if Tenant’s estimated payments of Operating Expenses or Real Property Taxes for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord. The Reconciliation Statement shall be reasonably detailed. Upon request by Tenant, Landlord shall additionally promptly provide such back-up documentation for the calculation of Operating Expenses or Real Property Taxes as Landlord has in its records, and Landlord shall answer any questions Tenant may have with respect to such Reconciliation Statement and attempt in good faith to resolve any issues that Tenant may have with respect thereto. Provided no Default by Tenant then exists, after receiving an annual Reconciliation Statement and giving Landlord at least ten (10) business days prior written notice thereof, Tenant may inspect or audit Landlord’s records relating to Rent for the period of time covered by such Reconciliation Statement in accordance with the following provisions. Tenant’s audit or inspection shall be conducted where Landlord maintains its books and records, shall not unreasonably interfere with the conduct of Landlord’s business, and shall be conducted during normal business hours. Tenant shall pay the cost charged by Tenant’s auditors for such audit or inspection, unless the total Rent for the period in question is determined to have been misstated by more than 3% in the aggregate, in which case Landlord shall pay such audit cost. If such inspection or audit reveals that an error was made in the Rent previously charged to Tenant, then Landlord shall refund to Tenant any overpayment of any such costs, or Tenant shall pay to Landlord any underpayment of any such costs, as the case may be, within thirty (30) days after notification thereof.
Reconciliation Statement. Landlord shall use its commercially reasonable efforts to furnish to Tenant by June 30 of each calendar year a statement of Operating Costs for the previous year (together with reasonable supporting documentation) and of the Taxes for the previous year (the “Reconciliation Statement”). If Tenant’s estimated payments of Operating Costs or Taxes under this Section 4.2 for the year covered by the Reconciliation Statement exceed Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall credit or reimburse Tenant for such excess within 30 days after Landlord furnishes the Reconciliation Statement to Tenant; likewise, if Tenant’s estimated payments of Operating Costs or Taxes under this Section 4.2 for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord.
Reconciliation Statement if, as a result of any change in accounting principles and policies from those used in the preparation of the Financial Statements, the financial statements of the Borrower and its consolidated Subsidiaries delivered pursuant to subsections (ii), (iii) or (xii) of this subsection 5.1(b) will differ in any material respect from the financial statements that would have been delivered pursuant to such subsections had no such change in accounting principles and policies been made, then, together with the first delivery of financial statements pursuant to subsection (ii), (iii) or (xii) following such change, financial statements of the Borrower and its consolidated Subsidiaries prepared on a pro forma basis, for (y) the current year to the effective date of such change and (z) the one full fiscal year immediately preceding the fiscal year in which such change is made, as if such change had been in effect during such period;
Reconciliation Statement. By April 30 of each calendar year, or as soon thereafter as practicable (but in no event later than June 30 of any calendar year, unless there is a pending tax contest or similar item beyond Landlord’s reasonable control), Landlord shall furnish to Tenant a statement of Operating Costs and Electrical Costs for the previous year, in each case adjusted as provided in Section 4.2.6, and of the Taxes for the previous year (the “Reconciliation Statement”). If Tenant’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for the year covered by the Reconciliation Statement exceed Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall credit or reimburse Tenant for such excess within 30 days after Landlord furnishes the Reconciliation Statement to Tenant; likewise, if Tenant’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord. If a reimbursement from Landlord or a payment from Tenant is due with respect to Tenant’s payments of estimated Additional Rent for the year in which the Term of the Lease expires, then such obligation shall survive expiration of the Lease and such reimbursement by Landlord or payment by Tenant, as applicable, shall be due within thirty (30) days of Landlord’s delivery of the Reconciliation Statement.
Reconciliation Statement. Section 4.5
Reconciliation Statement. Any delay or failure by Landlord in delivering any Reconciliation Statement shall not constitute a waiver of Landlord’s right to require Tenant to pay Tenant’s Share of Operating Expenses pursuant hereto. Any amount due Tenant shall be credited against installments next coming due under this Exhibit B, and any deficiency shall be paid by Tenant together with the next installment. Should Tenant fail to object in writing to Landlord’s determination of Tenant’s Share of Operating Expenses within 60 days following delivery of Landlord’s Reconciliation Statement, Landlord’s determination of Tenant’s Share of Operating Expenses for the applicable Expense Recovery Period shall be conclusive and binding on Tenant for all purposes and any future claims by Tenant to the contrary shall be barred.
Reconciliation Statement. As soon as is reasonably practical ------------------------ following the end of each calendar year, Landlord shall furnish Tenant with a statement ("Reconciliation Statement") of the actual amount of Operating Expenses and Property Taxes for the prior calendar year and Tenant's Pro Rata Share of same. If the amount of Operating Expenses and Property Taxes actually paid by Tenant for the prior calendar year is more than the actual amount of Operating Expenses and Property Taxes for the prior calendar year, Landlord shall apply any overpayment by Tenant against Additional Rent due or refund such amount within thirty (30) days after the Reconciliation Statement is provided to Tenant, provided if the Term expires before the determination of the overpayment, Landlord shall refund any overpayment to Tenant after first deducting the amount of Rent due. If the amount of Operating Expenses and Property Taxes paid by Tenant for the prior calendar year is less than the actual amount of Operating Expenses and Property Taxes for such prior year, Tenant shall pay Landlord, within thirty (30) days after its receipt of the Reconciliation Statement of Operating Expenses and Property Taxes, any underpayment for the prior calendar year. The obligations of Tenant under this Section 4(b) shall survive the expiration or sooner termination of the Term.
Reconciliation Statement a reasonably detailed written statement showing (1) Tenant’s Proportionate Share of the amount by which (A) Operating Charges incurred during the immediately preceding calendar year exceeded the Operating Charges Base Amount (as defined in Section 5.2(a)) (not including utilities or insurance costs), (B) utility costs incurred during the immediately preceding calendar year exceeded utility costs incurred during the Operating Charges Base Year, (C) insurance costs incurred during the immediately preceding calendar year exceeded insurance costs incurred during the Operating Charges Base Year, and (D) Real Estate Taxes for the immediately preceding calendar year exceeded the Real Estate Taxes Base Amount (as defined in Section 5.3(a)), as applicable; and (2) the aggregate amount of Tenant’s estimated payments made on account of Operating Charges, including utility costs, insurance costs, and Real Estate Taxes during such year, as applicable.
Reconciliation Statement. It is estimated that on or before March 31 following a calendar year for which Overhead Rent is payable hereunder, Landlord shall provide Tenant with a reconciliation statement showing the amount of the actual components of Overhead Rent for the immediately previous calendar year only. Notwithstanding the provisions of the immediately preceding sentence, should Landlord fail to provide Tenant with a reconciliation statement by June 30 for the immediately preceding calendar year, Tenant shall have no further liability for any additional payment to Landlord that would otherwise be reflected and required in the said reconciliation statement for the preceding year. If the reconciliation statement reflects an underpayment in either component of Overhead Rent, Landlord shall also deliver to Tenant an invoice which Tenant shall pay within thirty (30) days following receipt of such invoice. If the reconciliation statement reflects an overpayment in either component of Overhead Rent, Tenant shall be entitled to either, at Landlord's option, to a credit against the next month's payment of Rent together with a refund check from Landlord for the balance of such overpayment or a refund check from the Landlord for the entire amount of such overpayment If the Lease has expired, the overpayment shall be refunded. In no event shall the Base Rent under this Lease be reduced by virtue of this Section. As used in this paragraph 3., the following terms shall have the following meanings:
