Operating Expense Statement Sample Clauses
An Operating Expense Statement clause requires the landlord to provide a detailed account of the building's operating expenses to the tenant, typically on an annual basis. This statement outlines costs such as maintenance, utilities, insurance, and property taxes, and may be used to calculate the tenant's share of these expenses under a lease. By mandating transparency and regular reporting, the clause ensures tenants are informed about the expenses they are responsible for, helping to prevent disputes and clarify financial obligations.
Operating Expense Statement. As soon as practicable after the expiration of each Operating Year, Landlord shall make a final determination of Operating Expenses and the amounts of the Proportion thereof for such Operating Year, or (if applicable) broken portion thereof, and provide Tenant with an audited statement of Operating Expenses; and Landlord and Tenant agree to immediately make the appropriate readjustment and payments and repayments. Notices by ▇▇▇▇▇▇▇▇ stating the amount of any estimate, re-estimate or determination of Operating Expenses, or the amount of the Proportion of Operating Expenses, or monthly instalments payable, need not include particulars of Operating Expenses. Provided, however, that upon request made within a reasonable time after receipt of such notice Tenant shall be entitled to inspect statements disclosing in reasonable detail the particulars of Operating Expenses, and the calculation of the amount of its Proportion of Operating Expenses and the books and records Landlord pertaining thereto.
Operating Expense Statement. Within two-hundred seventy (270) days after the end of each Operating Expense Year (including the Base Operating Expense Year), Landlord shall issue a statement of Operating Expenses for such Operating Expense Year, including a computation of Tenant’s Operating Expense Payment for such Operating Expense Year (an “Operating Expense Statement”). If Tenant’s Estimated Operating Expense Payments shall have been less than Tenant’s Operating Expense Payment (including, if by reason of the requirement that Tenant pay the Adjusted Operating Expense Payment Amount), the deficiency shall be payable by Tenant to Landlord within thirty (30) days after receipt of such Operating Expense Statement. If Tenant’s Estimated Operating Expense Payment shall have been more than Tenant’s Operating Expense Payment (including, if by reason of the requirement that Tenant pay the Adjusted Operating Expense Payment Amount), the overpayment (together with interest thereon at (x) the Prime Rate if the amount of the overpayment is 3% or more but less than 5% and (y) the Interest Rate if the amount of the overpayment is 5% or more), shall, subject to the last sentence of Section 4.03B(ii), at Landlord’s option, be credited by Landlord against Tenant’s next subsequent payments of Rent or paid to Tenant together with such Operating Expense Statement.
Operating Expense Statement. Landlord shall provide an annual ----------------------------- Operating Expense statement including a statement of Landlord's actual Operating Expenses for the previous year adjusted as provided in subsection 6d. If the annual Operating Expense Statement reveals that Tenant paid more for Additional Rent than the actual amount due in the year for which such statement was prepared, then Landlord shall promptly credit (or reimburse, if the Lease has terminated and Tenant is not in default) Tenant for such excess. Likewise, if Tenant paid less than the actual amount due, then Tenant shall promptly pay Landlord such deficiency. This provision applies only to Tenant's Additional Rent and shall never require a refund or credit of Base Rent.
Operating Expense Statement. Tenant shall pay to Landlord as ---------------------------- Additional Rent an amount equal to Tenant's Share of Building Operating Expenses for any Lease Year or Partial Lease Year in the manner set forth in this Section 5.2.
Operating Expense Statement. An operating expense statement certified by Seller to be a complete and correct list and description of operating expenses relating to Seller's ownership, operation, management and maintenance of the Subject Property since September 1, 2000.
Operating Expense Statement. After the end of each Operating Expense Year, Landlord shall issue an annual statement of Operating Expenses for such Operating Expense Year (and shall endeavor to do so within one hundred eighty (180) days after the end of each Operating Expense Year), including a computation of Tenant’s Operating Expense Payment for such Operating Expense Year (an “Operating Expense Statement”). If Tenant’s payments under Section 3.02(b)(2) above on account of Tenant’s Estimated Operating Expense Payment shall have been less than Tenant’s Operating Expense Payment as shown on such Operating Expense Statement, the deficiency shall be payable by Tenant to Landlord within fifteen (15) days after receipt of such Operating Expense Statement. If Tenant’s payments under Section 3.02(b)(2) above on account of Tenant’s Estimated Operating Expense Payment shall have been more than Tenant’s Operating Expense Payment as shown on such Operating Expense Statement, the excess shall be paid by Landlord to Tenant within thirty (30) days following the issuance of such Operating Expense Statement.
Operating Expense Statement. After the end of each Operating Expense Year, Landlord shall issue a statement of Building Operating Expenses, CAM Operating Expenses and the BID Assessment for such Operating Expense Year, including a computation of Tenant's Operating Expense Payment for such Operating Expense Year (an "Operating Expense Statement"). If Tenant's payments under subsection 3.2(b)(ii) above on account of Tenant's Operating Expense Payment shall have been less than Tenant's Operating Expense Payment, the deficiency shall be payable by Tenant to Landlord within ten (10) days after receipt of such Operating Expense Statement. If Tenant's payments under subsection 3.2(b)(ii) above on account of Tenant's Operating Expense Payment shall have been more than Tenant's Operating Expense Payment, the overpayment (together with interest on such overpayment if such overpayment shall be by more than five percent (5%), at the Interest Rate calculated on the amount of such overpayment from the date that Tenant shall have overpaid to the date Landlord shall credit to Tenant such overpayment), shall be credited by Landlord against Tenant's subsequent payments due under Sections 3.1 and Section 3.2 or promptly paid to Tenant.
Operating Expense Statement. Seller has delivered to Purchaser an “Operating Expense Statement” prepared on a cash basis which is a complete, true, and accurate list and description of all income received and all operating expenses paid during the period from January 1, 2007 through August 31, 2010.
Operating Expense Statement. Landlord will provide to Tenant, in --------------------------- reasonable detail, an operating expense statement for the previous year, no later than 150 days after the close of each fiscal year. If Landlord shall fail to provide such a statement for Tenant's review, Tenant shall not be responsible for any monies owed to the Landlord as additional rent for the previous year.
Operating Expense Statement. The “Operating Expense Statement” attached hereto as Exhibit ”H” and by this reference made a part hereof is, in every material respect, a complete, true, and accurate list and description of all income and all operating expenses and other financial and expense information relating to the rental, operation, management, and maintenance of the Property during the period from January 1, 2003 through March 31, 2004.