Examples of Excess Operating Costs in a sentence
In the case of the reconciliation for the last calendar year of the lease term, the difference between the actual Excess Operating Costs and the estimated Excess Operating Costs for the current year shall be invoiced to, or paid to, Lessee within 30 days following the determination of such amount.
If this Option is timely exercised, Tenant will deliver possession of the Leased Premises to Landlord on the Termination Date in accordance with the terms of the Lease and all other terms 9 O1037432.2 5/9/2014 and provisions will apply as if the Lease had expired according to its terms, including Tenant’s obligation for payment of Tenant’s Excess Operating Costs attributable to periods prior to the Termination Date at such time as such obligation is determined.
If estimated Excess Operating Costs for the current year exceed actual Excess Operating Costs for the current year, then a monthly pro rata portion of Lessee's Share of such excess shall be subtracted from the monthly base rental for each month of the following calendar year.
If the total of the estimated monthly payments made by Tenant for such year exceeds the actual amount of Tenant's Proportionate Share of Excess Operating Expenses for such Comparison Year, then Landlord shall credit against Tenant's next ensuing monthly installments of Tenant’s Proportionate Share of Excess Operating Costs an amount equal to the difference until the credit is exhausted.
Should Operating Costs be reduced for any calendar year after the Base Year, Lessor will credit future Excess Operating Costs in the amount of such overpayment or provide Lessee a refund of such overpayment if there are no Excess Operating Costs.