Common use of Final Statement Clause in Contracts

Final Statement. No later than the last day of April of each calendar year, Landlord shall render to Tenant a Final Statement of the actual Operating Costs for the prior calendar year, and a computation of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs. If Tenant's Final Statement indicates that the actual amount of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs for such calendar year exceeded the estimated amount paid by Tenant, Tenant shall pay the amount of such difference to Landlord within fifteen (15) days after receipt of the Final Statement. Notwithstanding any provision to the contrary, the portion Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs that is attributable to Controllable Operating Costs shall increase no more than four percent (4%) annually. Any overpayment of Tenant's actual Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs shall be credited toward future installments of Rent due for the months immediately following the furnishing of such estimate or, if no such installment is due, Landlord shall refund said amount to Tenant. Landlord's failure to adhere strictly to the deadlines for providing the notices required by this Section shall in no way relieve Tenant of Tenant's obligation to pay Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cots.

Final Statement. No later than Following the last day of April end of each calendar yearComparison Year, Landlord shall render furnish to Tenant a Final Statement final statement of actual Costs of Operation and Taxes for that Comparison Year, certified by a certified public accountant retained by ▇▇▇▇▇▇▇▇'s managing agent. Landlord will also instruct its managing agent to promptly provide to Tenant copies of current property tax bills for the Property as they become available and, if for any reason such delivery is not made by the managing agent, Landlord will promptly deliver copies of tax bills to Tenant upon request. Landlord will endeavor to deliver a final statement to Tenant within 90 days following the end of any Comparison Year during the Lease Term. Within 30 days of presentation of the actual Operating Costs final statement for the prior calendar year, and a computation of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs. If Tenant's Final Statement indicates that the actual amount of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs for such calendar year exceeded the estimated amount paid by Tenantany Comparison Year, Tenant shall pay the Landlord, as Additional Charges, any amount of such difference to Landlord within fifteen (15) days after receipt of the Final Statement. Notwithstanding any provision to the contrary, the portion due for Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Taxes and Costs that is attributable of Operation for such Comparison Year, subject to Controllable Operating Costs shall increase no more than four percent (4%the limitations enumerated in SECTIONS 4.2(a) annuallyand 4.2(b) above. Any credit due Tenant for overpayment of Tenant's actual Proportionate Share of those Operating Taxes and Costs of Operation shall bear interest, at an annual rate equal to the Agreed Rate from the date which exceed Landlord's Share of Operating Costs is 30 days following the date it is finally determined and agreed by Landlord and Tenant that such credit is due until the date credited to Tenant, and such amount (including interest, accrued as referenced above) shall be credited toward future against the monthly installments of Rent Rents next coming due for the months immediately following the furnishing of such estimate or, if no such installment is due, (except that Landlord shall refund to Tenant the amount of any such credit for the final Comparison Year in the Lease Term to the extent that no amounts are then owing by Tenant hereunder). Notwithstanding the foregoing, if Landlord fails to pay to Tenant any credit or refund due under this SECTION 4.2 within thirty (30) days after presentation of the statement for the Comparison Year, Tenant may deduct or set-off said amount and accrued interest, if any, from the following Basic Rent, Additional Rent or any other payment due from Tenant to TenantLandlord. Tenant shall have 12 months after presentation of Landlord's failure statement of actual Taxes and Costs of Operation within which to adhere strictly object in writing to the deadlines for providing accuracy of the notices statement in accordance with the terms of SECTION 4(e) below; unless Tenant so objects within said 12-month period, ▇▇▇▇▇▇▇▇'s statement shall be conclusive and binding on both parties subject to the terms of SECTION 4.2(F). Objection by Tenant shall not excuse or ▇▇▇▇▇ ▇▇▇▇▇▇'s obligation to make the payments required by this Section shall in no way relieve Tenant SECTION 4.2 pending resolution of Tenant's obligation to pay Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cotsobjection.

Final Statement. No later than Following the last day of April end of each calendar yearComparison Year, Landlord Sublandlord shall render furnish to Tenant Subtenant a Final Statement final statement of actual Costs of Operation and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I of each Comparison Year (after the first Comparison Year). Within thirty (30) days of presentation of the actual Operating Costs final statement for the prior calendar yearany Comparison Year, and a computation of Tenant's Proportionate Share of those Operating Costs which exceed LandlordSubtenant shall pay Sublandlord, as Additional Charges, any amount due for Subtenant's Share of Operating CostsTaxes and Costs of Operation. If Tenant's Final Statement indicates that the actual amount Any credit due Subtenant for overpayment of Tenant's Proportionate Share of those Operating Costs which exceed LandlordSubtenant's Share of Operating Taxes and Costs for such calendar year exceeded of Operation shall be credited against the estimated amount paid by Tenant, Tenant monthly installments of Basic Rent next coming due (except that Sublandlord shall pay refund to Subtenant the amount of any such difference credit for the final Comparison Year in the Sublease Term to Landlord within fifteen (15) the extent that no amounts are then owing by Subtenant hereunder). Subtenant shall have 120 days after receipt presentation of Sublandlord's statement of actual Taxes and Costs of Operation within which to object or question in writing to the accuracy of the Final Statement. Notwithstanding any provision to statement in accordance with the contraryterms of subsection (e) below; unless Subtenant so objects within said 120-day period, the portion TenantSublandlord's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs that is attributable to Controllable Operating Costs shall increase no more than four percent (4%) annually. Any overpayment of Tenant's actual Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs statement shall be credited toward future installments of Rent due for conclusive and binding on Subtenant. Objection by Subtenant shall not excuse or ▇▇▇▇▇ Subtenant's obligation to make the months immediately following the furnishing of such estimate or, if no such installment is due, Landlord shall refund said amount to Tenant. Landlord's failure to adhere strictly to the deadlines for providing the notices payments required by this Section shall in no way relieve Tenant 4.2 pending resolution of TenantSubtenant's obligation to pay Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cotsobjection.

Final Statement. No later than After the last day end of April of the Base Year and each calendar yearComparison Year (including the Comparison Year in which the Lease Term terminates), Landlord shall render deliver to Tenant a final statement (“Landlord’s Final Statement Statement’“) showing a reasonably detailed line item description of Tenant’s Share of the annual actual Operating Costs Excess Direct Expenses for the prior calendar year, . Landlord shall diligently endeavor to deliver to Tenant the Landlord’s Statement for each Comparison Year and a computation the Base Year on or before May 31st of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Coststhe succeeding year. If Tenant's Final Statement indicates that ’s Share of the actual amount of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such calendar year exceeded the estimated amount paid by TenantComparison Year, within thirty (30) days of delivery of such Landlord’s Statement, Tenant shall pay Landlord the amount of such difference excess over the estimated payments already made by Tenant. If the Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, the amount of such overpayment shall be credited against the installments of Monthly Rent next coming due (immediately following preparation of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments for the Comparison Year in which the Lease Term terminates shall be paid by Landlord to Landlord Tenant within fifteen thirty (1530) days after receipt delivery of the Final Landlord’s Statement. Notwithstanding any provision Objections by Tenant shall not excuse or ▇▇▇▇▇ Tenant’s obligation to make the contrary, payments required under this Section 7.5 (or under Section 7.4) pending the portion Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs that is attributable to Controllable Operating Costs shall increase no more than four percent (4%) annually. Any overpayment resolution of Tenant's actual Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs shall be credited toward future installments of Rent due for the months immediately following the furnishing of such estimate or, if no such installment is due, Landlord shall refund said amount to Tenant. Landlord's failure to adhere strictly to the deadlines for providing the notices required by this Section shall in no way relieve Tenant of Tenant's obligation to pay Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cots’s objection.

Final Statement. No later than the last day Provided Tenant shall have paid all amounts invoiced by Landlord on account of April of each calendar year, Landlord shall render to Tenant a Final Statement of the actual Operating Costs for the prior calendar yearapplicable Operating Year, Landlord shall permit Tenant, at Tenant’s sole cost and a computation expense except as hereinafter provided, to review any of Landlord’s invoices, books, records and statements relating to Operating Costs for such Operating Year, provided such review is commenced within [*] days of Tenant's Proportionate Share ’s receipt of those Operating Costs which exceed Landlord's Share of Operating Costs. If Tenant's Final Statement indicates that the actual amount of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share ’s final statement of Operating Costs for the applicable Operating Year (the “Final Statement”) and thereafter undertaken by Tenant or its accountants (provided such calendar year exceeded the estimated amount paid by Tenantaccountants are compensated at a usual hourly rate and not on a contingency fee basis) with due diligence. If Tenant objects to Landlord’s accounting of any Operating Costs, Tenant shall pay shall, on or before the amount of such difference to Landlord within fifteen (15) date [*] days after following receipt of the Final Statement, notify Landlord that Tenant disputes the correctness of such accounting, specifying the particular line items which Tenant claims are incorrect; otherwise, Tenant shall be deemed to have waived any and all objections to such Final Statement. Notwithstanding If such dispute has not been settled by agreement within [*] days after L▇▇▇▇▇▇▇’s receipt of Tenant’s notice of dispute, either party may submit the dispute to arbitration in accordance with the commercial arbitration rules of the American Arbitration Association. The decision of the arbitrators shall be final and binding on Landlord and T▇▇▇▇▇ and judgment thereon may be entered in any provision to the contrary, the portion Tenant's Proportionate Share court of those competent jurisdiction. If it should be agreed or decided that Operating Costs which exceed were overstated by [*] percent ([*]%) or more, then Landlord shall promptly reimburse Tenant for the reasonable costs incurred by Tenant in reviewing Landlord's Share ’s invoices and statements, T▇▇▇▇▇’s reasonable arbitration costs, plus any excess amount paid by Tenant on account of overstated Operating Costs with interest at the Default Rate (as defined in Section 8.4). If it should be decided that is attributable to Controllable Operating Costs were not overstated at all, then Tenant shall, as Additional Rent, promptly reimburse Landlord for its costs incurred in the arbitration and in preparing for Tenant’s review of invoices and statements, and if Operating Costs shall increase no more have been understated or Tenant shall not have paid Tenant’s Insurance Cost Obligation in full, Tenant shall, as additional Rent, promptly pay any deficiency. In the event of an overstatement which is less than four [*] percent (4[*]%) annually. Any overpayment of Tenant's actual Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs shall be credited toward future installments of Rent due for the months immediately following the furnishing of such estimate or, if no such installment is due), Landlord shall refund said promptly reimburse Tenant for any excess amount paid by Tenant on account of overstated Operating Costs, and each party shall be responsible for its own costs incurred in connection with such dispute. Tenant shall keep confidential all agreements involving the rights provided in this section and the results of any audits or arbitration conducted hereunder. Notwithstanding the foregoing, Tenant shall be permitted to Tenant. Landlord's failure furnish the foregoing information to adhere strictly its attorneys and accountants to the deadlines extent necessary to perform their respective service for providing the notices required by this Section shall in no way relieve Tenant of Tenant's obligation to pay Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cots.

Final Statement. No later than After the last day end of April of the Base Year and each calendar yearComparison --------------- Year (including the Comparison Year in which the Lease Term terminates), Landlord shall render deliver to Tenant a final statement ("Landlord's Final Statement Statement'") showing a reasonably detailed line item description of Tenant's Share of the annual actual Operating Costs Excess Direct Expenses for the prior calendar year, and a computation of Tenant's Proportionate Share of those Operating Costs which exceed . Landlord shall diligently endeavor to deliver to Tenant the Landlord's Share Statement for each Comparison Year and the Base Year on or before May 31st of Operating Coststhe succeeding year. If Tenant's Final Statement indicates that Share of the actual amount of Tenant's Proportionate Share actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such Comparison Year, within --------- thirty (30) days of those Operating Costs which exceed delivery of such Landlord's Share of Operating Costs for such calendar year exceeded the estimated amount paid by TenantStatement, Tenant shall pay Landlord the amount of such difference excess over the estimated payments already made by Tenant. If the Tenant's Share of the amount of actual Excess Direct Expenses due for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, the amount of such overpayment shall be credited against the installments of Monthly Rent next coming due (immediately following preparation of Landlord's reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments for the Comparison Year in which the Lease Term terminates shall be paid by Landlord to Landlord Tenant within fifteen thirty (1530) days after receipt delivery of the Final Landlord's Statement. Notwithstanding any provision to the contrary, the portion Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs that is attributable to Controllable Operating Costs Objections by Tenant shall increase no more than four percent (4%) annually. Any overpayment of Tenant's actual Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Costs shall be credited toward future installments of Rent due for the months immediately following the furnishing of such estimate or, if no such installment is due, Landlord shall refund said amount to Tenant. Landlord's failure to adhere strictly to the deadlines for providing the notices required by this Section shall in no way relieve Tenant of not excuse or ▇▇▇▇▇ Tenant's obligation to pay make the payments required under this Section 7.5 (or under Section 7.4) pending the ----------- ----------- resolution of Tenant's Proportionate Share of those Operating Costs which exceed Landlord's Share of Operating Cotsobjection.