Operating Expense Payment Clause Samples
Operating Expense Payment. (A) Commencing on the Rent Commencement Date, Tenant shall pay the Operating Expense Payment to Landlord in accordance with the terms of this Section 2.3 (it being understood that Tenant shall have no obligation to make an Operating Expense Payment with respect to any period prior to the Rent Commencement Date).
(B) Landlord shall have the right to give a statement to Tenant from time to time pursuant to which Landlord sets forth with reasonable detail and specificity Landlord's good faith estimate of the Operating Expense Payment for a particular Operating Expense Year (any such statement that Landlord gives to Tenant being referred to herein as a "Prospective Operating Expense Statement"; and one-twelfth (1/12th) of the Operating Expense Payment shown on a Prospective Operating Expense Statement being referred to herein as the "Monthly Operating Expense Payment Amount"). If Landlord gives to Tenant a Prospective Operating Expense Statement (or Landlord is deemed to have given to Tenant a Prospective Operating Expense Statement pursuant to Section 2.3(C) hereof), then Tenant shall pay to Landlord, as additional rent, on account of the Operating Expense Payment due hereunder for such Operating Expense Year, the Monthly Operating Expense Payment Amount, on the first (1st) day of each subsequent calendar month for the remainder of such Operating Expense Year, in the same manner as the monthly installments of the Fixed Rent hereunder (it being understood that Tenant shall not be required to commence such payments of the Monthly Operating Expense Payment Amount (x) before the first (1st) day of the Operating Expense Year to which relates the applicable Monthly Operating Expense Payment Amount, or (y) earlier than the thirtieth (30th) day after the date that Landlord gives the Prospective Operating Expense Statement to Tenant). If Landlord gives (or is deemed to have given) to Tenant a Prospective Operating Expense Statement after the first (1st) day of the applicable Operating Expense Year, then Tenant shall also pay to Landlord, within thirty (30) days after the date that Landlord gives the Prospective Operating Expense Statement to Tenant, an amount equal to the excess of (I) the product obtained by multiplying (x) the Monthly Operating Expense Payment Amount, by (y) the number of calendar months that have theretofore elapsed during such Operating Expense Year, over (II) the aggregate amount theretofore paid by Tenant to Landlord on account of the Operating ...
Operating Expense Payment. In addition to the Base Rent, for each Calendar Year during the Term, Tenant shall pay Landlord Tenant’s Pro-Rata Share of the Operating Expenses (calculated on a per rentable square foot per annum basis) (the “Operating Expense Payment”). The Operating Expense Payment shall be made by Tenant to Landlord in accordance with the terms of this Section 4.2 and shall be subject to adjustment as provided for in this Section 4.2.
Operating Expense Payment. To the extent that Gross Revenues during any Fiscal Year are, at any time, insufficient or expected to be insufficient to pay Operating Expenses incurred or accrued in such Fiscal Year (including, without limitation, the Base Fee), City shall advance funds to Savor as follows: Savor shall submit to City an invoice for the projected and/or actual insufficiency of Gross Revenues to pay Operating Expenses, and City shall advance such funds to Savor within five (5) days after receipt of such invoice. Any failure by Savor to perform its obligations under this Agreement shall not be a breach of or default under this Agreement if such breach or default results from City's failure to advance sufficient funds to Savor as provided for herein.
Operating Expense Payment. As used in this Lease, the Tenant's proportionate share of the Operating Expenses shall be one hundred percent (100%).
Operating Expense Payment. To the extent that Gross Revenues during any Fiscal Year are, at any time, insufficient or expected to be insufficient to pay Operating Expenses incurred or accrued in such Fiscal Year (including, without limitation, the Base Fee), City or the JPA shall advance funds to SAVOR as follows: SAVOR shall submit to City or JPA an invoice for the projected and/or actual insufficiency of Gross Revenues to pay Operating Expenses, and City or JPA, as applicable, shall advance such funds to SAVOR within five (5) days after receipt of such invoice. Any failure by SAVOR to perform its obligations under this Agreement shall not be a breach of or default under this Agreement if such breach or default results from City's failure to advance sufficient funds to SAVOR as provided for herein.
Operating Expense Payment. In addition to Base Rent, Tenant shall pay, as additional rent, a share of Operating Expenses on the first day of each month, in advance and without the necessity of notice to Tenant by Landlord, throughout the Term. The estimated initial monthly Operating Expense Payment is specified in Section 1.01 (d). The intent of such Operating Expense Payment is to create a true net lease whereby tenants are responsible for the payment of all Operating Expenses according to their proportionate share, so that the amount retained by Landlord from total receipts, after payment of all expenses of the Project, is the total of all tenant base rents.
Operating Expense Payment. (a) For each Lease Year (hereinafter defined) during the Term, Tenant shall pay as additional rent an amount equal to the Operating Expense Payment (hereinafter defined).
(b) Operating Expense Definitions:
Operating Expense Payment. The Operating Expense Payment initially shall be the amount set forth in Section 1(l)(1) and shall increase by three percent on the 12th month anniversary of the Rent Commencement Date and each 12 month anniversary thereafter.
Operating Expense Payment. As of the date hereof, and ------------------------- throughout the term of the Lease, as hereby extended, Paragraph 2.02 of the Lease is hereby deleted in its entirety and the following is substituted in place thereof:
Operating Expense Payment. The Operating Expense Payment initially shall be the amount set forth in Section 1(l)(1) and shall increase by three percent on the 12th month anniversary of the Rent Commencement Date and each 12 month anniversary thereafter.