Common use of Estimates and Payments Clause in Contracts

Estimates and Payments. Commencing on January 1, 1998, Additional Rent to be paid during each calendar year during the Term shall be paid quarterly in arrears (in equal installments on the 20th day of April, July, October and January) based on the actual increase in Gross Revenues over the comparable fiscal quarter for the immediately preceding calendar year, to be adjusted at the end of each such year based on the actual Excess Gross Revenues calculated for that calendar year. Additional Rent due for any portion of any calendar year shall be prorated accordingly.

Estimates and Payments. Commencing on January 1October 20, 19981999, Additional Rent to be paid during each calendar year during the Term shall be paid quarterly in arrears (in equal installments on the 20th day of April, July, October and January) based on the actual increase in Gross Revenues over the comparable fiscal quarter for the immediately preceding calendar year, to be adjusted at the end of each such year based on the actual Excess Gross Revenues calculated for that calendar year. Additional Rent due for any portion of any calendar year shall be prorated accordingly.