Examples of Operating Expenses Allocable to the Premises in a sentence
Tenant’s Annual Fixed Rent, Tenant’s Operating Expenses Allocable to the Premises and Tenant’s Tax Expenses Allocable to the Premises shall be apportioned between Landlord and Tenant as of the Effective Date and paid, if applicable, to the party entitled to the same as set forth in the Lease.
Not later than ninety (90) days after the end of each calendar year or fraction thereof during the Term or fraction thereof at the end of the Term, the Landlord shall render the Tenant a statement in reasonable detail and according to usual accounting practices certified by a representative of the Landlord, showing for the preceding calendar year or fraction thereof, as the case may be, the Operating Expenses for the Property and the Tenant’s Operating Expenses Allocable to the Premises.
The amount so to be paid to Landlord shall be an amount from time to time reasonably estimated by Landlord based upon the Final Estimated Operating Expense Budget (if applicable) to be sufficient to cover, in the aggregate, a sum equal to the Operating Expenses Allocable to the Premises for each calendar year during the Term.
For purposes of this Sublease, (1) Base Amount Operating Expenses Allocable to the Premises shall equal Operating Expenses Allocable to the Premises for calendar year 2003 (subject to the provisions of clause (v) above) multiplied by 0.97 and (2) Base Amount RS Expenses shall equal RS Expenses Allocable to the Premises for calendar year 2003 (subject to the provisions of clause (v) above)) multiplied by 0.97.
If Actual Operating Expenses for any Expense Year exceed Estimated Operating Expenses Allocable to the Premises paid by Tenant to Landlord pursuant to subsection (b)(1) above, Tenant shall pay the amount of such excess to Landlord as Additional Rent within fifteen (15) days after receipt of such statement by Tenant.