Common use of Final Partial Year Clause in Contracts

Final Partial Year. If the Lease term expires, or this Lease terminates, before a final determination of the actual Tenant's Pro Rata Share of Operating Expenses, then the amount of adjustment between the estimated Tenant's Pro Rata Share and the actual Tenant's Pro Rata Share of Operating Expenses payable for the preceding Lease Year and/or the final partial Lease Year of the Lease term will be estimated by Landlord, in good faith, based on the best data available to Landlord at the time of the estimate. Before the scheduled last day of the Lease term, or as soon as possible (but in no event more than sixty (60) days) after an earlier termination date, an adjustment will be made between Landlord and Tenant. The obligations set forth in the preceding sentence shall survive the expiration or earlier termination of this Lease.

Appears in 2 contracts

Sources: Lease Agreement (Xetel Corp), Lease Agreement (Xetel Corp)