Excess Expense Payments Clause Samples

Excess Expense Payments. Tenant shall pay to Landlord the amount by which Tenant's Proportionate Share of the actual Operating Expenses (as those expenses are defined in Exhibit C) incurred by the Landlord in the operation of the Building during each calendar year of the Lease Term exceeds the Base Expenses (as those expenses are defined in Section M of the Lease Summary)("Excess Expenses"). The Excess Expenses shall be prorated on a daily basis using a 365-day calendar year, as necessary for any year during which this Lease is in effect for less than the full twelve-month calendar year. Starting in the 13th month after the Commencement Date, if the Tenant's Proportionate Share of actual Operating Expenses incurred by the Landlord are greater than the Base Expenses, Tenant will, thereafter, pay any Excess Expenses owed to the Landlord. Tenant's Excess Expenses will be paid monthly in advance based upon Landlord's estimate of the Excess Expenses which Tenant will incur during each calendar year during the Lease Term. For the first year in which Excess Expenses will be paid, Landlord will deliver to Tenant on March 1, 1998, a written statement showing its actual Operating Expenses for the 1997 calendar year, and estimating the Excess Expenses Landlord expects that Tenant will incur from the first anniversary of the Commencement Date through December 31, 1998. For every year thereafter, Landlord will notify Tenant by December 1 of each year during the Lease Term of the amount of the monthly estimated Excess Expense payment which Tenant will be required to make for each month of the upcoming year; provided, however, that Landlord's failure to so notify Tenant of the amount of the monthly estimated Excess Expense payment by December 1 of any year will not vitiate or otherwise modify Tenant's obligation to pay its Excess Expenses hereunder. For the purpose of determining the Base Expenses, the Landlord shall assume that the building is 100% occupied and that the taxes are fully assessed as if the Building were complete for the
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Excess Expense Payments. Tenant will pay the increase, if any, ----------------------- of the Operating Expenses incurred by Landlord during the Lease Term over the Base Expenses ("Excess Expenses"). For the purposes of this Lease, "Base Expenses" will mean the actual Operating Expenses incurred by Landlord during the calendar year 1997. A list of those expenses which are included within the definition of "Operating Expenses" is set forth in Exhibit B. Any such Excess Expenses will be paid by Tenant in advance based upon Landlord's estimate of the Excess Expenses which will be incurred during each calendar year during the Lease Term, beginning with the 1998 calendar year. Landlord will use its best efforts to notify Tenant by December 1 of each year during the Lease Term, beginning with the 1998 calendar year, of the amount of the estimated Excess Expense payment which Tenant will be required to make for each month of the upcoming calendar year.
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Related to Excess Expense Payments

  • EXPENSE PAYMENTS The Owner hereby gives power to the Agent to pay expenses and costs for the Property from the Owner’s funds held by the Agent, unless otherwise directed by the Owner. The expenses and costs may include, but are not limited to, property management compensation, fees and charges, expenses for goods and services, property taxes and other taxes, association or condominium dues, assessments, loan payments, and insurance premiums.

  • Excess Expenses If the expenses for any Portfolio for any fiscal year (including fees and other amounts payable to the Adviser, but excluding interest, taxes, brokerage costs, litigation, and other extraordinary costs) as calculated every business day would exceed the expense limitations imposed on investment companies by any applicable statute or regulatory authority of any jurisdiction in which shares of a Portfolio are qualified for offer and sale, the Adviser shall bear such excess cost. However, the Adviser will not bear expenses of any Portfolio which would result in the Portfolio's inability to qualify as a regulated investment company under provisions of the Internal Revenue Code. Payment of expenses by the Adviser pursuant to this Section 5 shall be settled on a monthly basis (subject to fiscal year end reconciliation) by a reduction in the fee payable to the Adviser for such month pursuant to Section 3 and, if such reduction shall be insufficient to offset such expenses, by reimbursing the Trust.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Expense Allowance Out of the proceeds of each Closing, the Company also agrees to pay ▇▇▇▇▇▇▇▇▇▇ (a) a management fee equal to 1.0% of the gross proceeds raised in each Offering; (b) $35,000 for non-accountable expenses (to be increased to $50,000 in case of a public Offering); (c) up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (to be increased to $100,000 in case of a public Offering); plus the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and, if applicable, the costs associated with the use of a third-party electronic road show service (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the indemnification and contribution provisions of this Agreement.

  • Business Expense Reimbursement During the Term of employment, the Executive shall be entitled to receive proper reimbursement for all reasonable, out-of-pocket expenses incurred by the Executive (in accordance with the policies and procedures established by the Company for its senior executive officers) in performing services hereunder, provided the Executive properly accounts therefore.