Common use of Actual Statement Clause in Contracts

Actual Statement. By March 1st of each Expense Year, Landlord will also endeavor to deliver to Tenant a statement ("Actual Statement") which states Tenant's Share of the actual increase in real property taxes and assessments and/or Landlord's insurance premiums paid for the preceding Expense Year over the real property taxes and assessments and Landlord's insurance premiums paid for the Base Year. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is/are more than the estimated increases paid by Tenant for the preceding Expense Year, Tenant shall pay the difference to Landlord in a lump um within ten (10 ) days after receipt of the Actual Statement. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is less than the estimated increases paid by Tenant for the preceding Expense Year, Landlord will credit any overpayment toward the next monthly installment(s) of estimated increases in real property taxes and assessments and/or Landlord's insurance premiums due under this Lease.

Actual Statement. By March 1st of each Expense Yearcalendar year during the Term of this Lease, Landlord will also endeavor to deliver to Tenant a statement ("Actual Statement") which states Tenant's Share of the actual increase in real property taxes and assessments and/or and Landlord's insurance premiums paid for the preceding Expense Year calendar year over the real property taxes and assessments and Landlord's insurance premiums paid for the Base Year. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is/are more than the estimated increases paid by Tenant for the preceding Expense Yearcalendar year, Tenant shall pay the difference to Landlord in a lump um sum within ten (10 10) days after receipt of the Actual Statement. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is less than the estimated increases paid by Tenant for the preceding Expense Yearcalendar year, Landlord will credit any overpayment toward the next monthly installment(s) of estimated increases in real property taxes and assessments and/or Landlord's insurance premiums due under this Lease.