Expense Adjustment Sample Clauses
Expense Adjustment. (i) Tenant shall pay as additional rent for each Calendar Year, that amount (“Expense Adjustment Amount”) which is Tenant’s Proportionate Share of the amount by which the Operating Expenses incurred with respect to such Calendar Year exceed the amount thereof incurred with respect to the Base Year; provided, however, that in determining the amount of Operating Expenses for each Calendar Year subsequent to the Base Year, if less than 95% of the Rentable Area of the Building shall have been occupied at any time during such Calendar Year, Operating Expenses shall be deemed for such Calendar Year to be in the amount reasonably determined by Landlord to be equal to that amount of like expenses which normally would be expected to be incurred had such occupancy been 95% throughout such Calendar Year.
(ii) The Expense Adjustment Amount with respect to each Calendar Year shall be paid in monthly installments, payable in advance on the first day of each calendar month during the course of such year, in amounts estimated from time to time by Landlord and communicated by written notice to Tenant. Landlord shall cause to be kept books and records showing Operating Expenses in accordance with generally applied real estate accounting practices. Following the close of each Calendar Year, Landlord shall cause the amount of the Expense Adjustment Amount for such Calendar Year to be computed based on Operating Expenses for such Calendar Year, and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceed the actual Expense Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord’s option, such excess shall be either credited against payments next due hereunder or refunded by L▇▇▇▇▇▇▇, provided T▇▇▇▇▇ is not then in default hereunder. Tenant’s obligations to pay the Expense Adjustment Amount and Landlord’s obligations to refund any excess amount shall survive the expiration or earlier termination of this Lease.
Expense Adjustment. In addition to Monthly Base Rent, Tenant shall pay with respect to each Adjustment Year an amount equal to Tenant's Share of Operating Expenses for the Adjustment Year in excess of the Base Expenses ("Expense Adjustment"). As to any Adjustment Year during the Term which does not begin on January 1st or does not end on December 31st, Expense Adjustment with respect to such Adjustment Year shall be prorated on a per diem basis. Notwithstanding anything contained herein to the contrary, Operating Expenses shall be deemed not to increase more than $.50 per rentable square foot per calendar year (determined on a cumulative basis throughout the Term of the Lease); provided that the foregoing cap on Operating Expenses shall not apply to the following components of Operating Expenses: taxes, insurance, and utilities.
Expense Adjustment. The Purchase Price shall be adjusted: (a) upward by an amount equal to all Ordinary Course Expenses and all other costs and expenses paid by Seller or any of its Affiliates and attributable to the ownership or operation of the Assets on and after the Effective Date, including all such costs and expenses paid under the C&O Agreement; and (b) downward for all Ordinary Course Expenses and all costs and expenses paid by Buyer or any of its Affiliates and attributable to the ownership or operation of the Assets prior to the Effective Date, including all such costs and expenses paid under the C&O Agreement, but excluding any costs attributable to each of the liabilities excluded from the term “Ordinary Course Expenses.”
Expense Adjustment. (a) For the purposes of this Paragraph 4D, the following terms are defined as follows:
Expense Adjustment. In accordance with Section 5.3 of this ------------------ Agreement, in the event that the Third Party Expenses (as defined in Section 5.3 hereof) incurred by the Company exceeds the sum of $250,000, then (i) to the extent any such excess is known as of the Closing Date the Cash Consideration payable pursuant to Section 1.6 shall be reduced by the amount of such excess, and (ii) to the extent any such excess is not known as of the Closing Date the excess shall when known be paid to Splash out of the Escrow Fund described in Article VII.
Expense Adjustment. In accordance with Section 5.5 of this Agreement, in the event that the Third Party Expenses (as defined in Section 5.5 hereof) incurred by the Company exceeds the sum of $2,000,000, then (i) to the extent any such excess is known as of the Closing Date the Merger Consideration payable pursuant to Section 1.6 shall be reduced by the amount of such excess, and (ii) to the extent any such excess is not known as of the Closing Date the excess shall when known be paid to Parent out of the Escrow Fund described in Article VII. If the Merger Consideration is Parent Common Stock any reduction in the number of shares of Parent Common Stock included in the Merger Consideration pursuant to 1.13, shall be determined based on the closing price of Parent Common Stock on the Nasdaq or, if the Parent Common Stock is not then listed on the Nasdaq, the principal securities market on which the Parent Common Stock is traded, as reported in the Wall Street Journal or similar national financial publication on the most recent day preceding the Closing Date Closing Date or if such day is not a trading day, then on the second most recent trading day preceding the Closing Date (the "PARENT COMMON STOCK VALUE").
Expense Adjustment. The Upper Level Premises Expense Adjustment Amount (as defined below) and the Retail Premises Expense Adjustment Amount (as defined below) shall be together referred to herein as the "Expense Adjustment Amount".
Expense Adjustment. Adjustment For Services Not Rendered by Landlord.............................................. 11 6.
Expense Adjustment. Buyer shall pay Seller and Seller's Affiliates [***] calculated on a pro rata basis [***]. Such purchase price adjustment shall be reduced by the gross profit (sale price less invoice cost for new boats and NADA used trade in value for used boats) on any boat [***] delivered prior to Closing. These adjustments shall be reflected on the Closing Statement.
Expense Adjustment. (a) For the purposes of this Paragraph 5D, the following terms are defined as follows: