Common use of Payment of Additional Rent Clause in Contracts

Payment of Additional Rent. Tenant shall pay additional rent (“Additional Rent”) as follows: (a) With each monthly payment of Base Monthly Rent pursuant to Section 3.01 above, Tenant shall pay to Landlord, without offset or deduction, one-twelfth (1/12th) of the Annual Statement of Estimated Costs. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within thirty (30) days after delivery of the Annual Report of Costs, Tenant shall pay to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually paid by Tenant as Additional Rent for the year at issue. (c) If the Annual Report of Costs indicates that the Estimated Costs paid by Tenant exceeded the actual Direct Costs, Metered Costs and Proportionate Share of Basic Costs for the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against the next installment(s) of Base Monthly Rent and/or Additional Rent due hereunder and so notify Tenant.

Payment of Additional Rent. Tenant shall pay additional rent (“"Additional Rent”") as follows: (a) With each monthly payment of Base Monthly Rent pursuant to Section 3.01 above, Tenant shall pay to TO Landlord, without offset or deduction, one-twelfth (1/12th) of the Annual Statement of Estimated Costs. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within thirty (30) days after delivery of the Annual Report of Costs, Tenant shall pay to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually paid by Tenant as Additional Rent for the year at issue. (c) If the Annual Report of Costs indicates that the Estimated Costs paid by Tenant exceeded the actual Direct Costs, Metered Costs and Proportionate Share of Basic Costs for the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against the next installment(sinstallments) of Base Monthly Rent and/or Additional Rent due hereunder and so notify Tenant.

Payment of Additional Rent. Tenant shall pay additional rent (“Additional Rent”) as follows: (a) With Prior to January 1 of each monthly payment of Base Monthly Rent pursuant to Section 3.01 above, Tenant shall pay to Landlord, without offset or deduction, one-twelfth (1/12th) of the Annual Statement of Estimated Costs. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, calendar year Landlord may amend said Statement in order to reflect make a more accurate prediction reasonable estimate of the actual ▇▇▇▇▇▇'s pro-rata share of excess <#>operating costs that will be incurred during and property taxes for the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. this amount shall be divided into twelve (b12) Within thirty (30) days after delivery of the Annual Report of Costs, equal monthly installments. Tenant shall pay to Landlord as Additional Rent, concurrently with the regular monthly rent payment, an amount equal to one (1) monthly installment until the next calendar year's estimate is rendered. In addition, Landlord shall endeavor to give to Tenant by which Direct CostsMarch 31 of each year a statement of the increase in rent payable by Tenant pursuant to Section 2.3 relative to the immediately preceding calendar year, Metered Costs and Proportionate but failure by Landlord to give such a statement shall not constitute a waiver by Landlord of its right to require Additional Rent. Upon receipt of such statement applicable to the first calendar year, Tenant shall pay in full the total amount of any rental increase due for the first calendar year. If, according to this statement, ▇▇▇▇▇▇'s Pro Rata Share of Basic Costssuch costs exceeds Tenant's payments made pursuant to Sections 2.3 and 2.4, as specified in Tenant shall pay Landlord the Report, deficiency within ten (10) days after the date of such statement. If said payments exceed the aggregate of Estimated Costs actually paid by Tenant as Additional Rent for the year at issue. (c) If the Annual Report of Costs indicates that the Estimated Costs paid by Tenant exceeded the actual Direct Costs, Metered Costs and Proportionate ▇▇▇▇▇▇'s Pro Rata Share of Basic Costs for excess <#>operating costs and property taxes, Tenant shall be entitled to offset the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against the next installment(s) payments thereafter to become due Landlord pursuant to this Section. When the final determination is made of Base Monthly Rent and/or Tenant's pro-rata share of excess <#>operating costs and property taxes for the year in which this Lease terminates and Tenant vacates the Premises, Tenant shall immediately pay any increase due over the excess costs already paid and conversely any overpayment made in the event said costs are lower than previously estimated shall be immediately rebated by Landlord to Tenant. Termination of the Lease shall not impair the Tenant's obligation to pay any Additional Rent due hereunder and so notify Tenantowed to Landlord.

Payment of Additional Rent. Tenant The Additional Rent shall pay additional rent (“Additional Rent”) as follows: (a) With each be payable to the Landlord upon demand therefor or at the option of the Landlord shall be payable in monthly installments in advance on the dates and at the times for payment of Base Monthly Rent pursuant provided for in this Lease. The Landlord shall deliver to Section 3.01 abovethe Tenant, not less frequently than annually, a statement showing in reasonable detail the information relevant and necessary to the calculation of the amount of Additional Rent, in the case of the first such statement for the period from the date from which Rent commences to accrue under this Lease and in the case of each such subsequent statement from the date to which the immediately preceding statement was made up. If Additional Rent is payable by monthly installments, then until the first statement of Additional Rent has been delivered, the Additional Rent shall be based upon the reasonable estimate of the Landlord and thereafter, the Additional Rent shall be the amount stipulated as such in the most recent prior statement of Additional Rent delivered to the Tenant shall pay to by the Landlord, without offset or deduction, one-twelfth (1/12th) of the Annual Statement of Estimated Costsadjusted to an annual basis if necessary. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within thirty (30) days after delivery of the Annual Report of Costs, Tenant shall pay to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually the monthly installments, if any, paid by the Tenant as in respect of the period to which any statement of Additional Rent for relates is less than the year at issue. (c) amount shown by such statement to be payable by the Tenant, the Tenant shall forthwith pay the amount of the deficiency to the Landlord. If the Annual Report aggregate of Costs indicates that the Estimated Costs monthly installments, if any, paid by the Tenant exceeded in respect of the actual Direct Costsperiod to which such statement of Additional Rent relates exceeds the amount shown by such statement to be payable by the Tenant, Metered Costs and Proportionate Share of Basic Costs for the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against shall be applied pro tanto in satisfaction of the next installment(s) ensuing installments of Base Monthly Rent and/or Additional Rent due hereunder and so notify TenantRent.

Payment of Additional Rent. Tenant The Additional Rent shall pay additional rent (“Additional Rent”) as follows: (a) With each be payable to the Landlord upon demand therefor or at the option of the Landlord shall be payable in monthly instalments in advance on the dates and at the times for payment of Base Monthly Rent pursuant provided for in this Lease. The Landlord shall deliver to Section 3.01 abovethe Tenant, not less frequently than annually, a statement showing in reasonable detail the information relevant and necessary to the calculation of the amount of Additional Rent, in the case of the first such statement for the period from the date from which Rent commences to accrue under this Lease and in the case of each such subsequent statement from the date to which the immediately preceding statement was made up. If Additional Rent is payable by monthly instalments, then until the first statement of Additional Rent has been delivered, the Additional Rent shall be based upon the reasonable estimate of the Landlord and thereafter, the Additional Rent shall be the amount stipulated as such in the most recent prior statement of Additional Rent delivered to the Tenant shall pay to by the Landlord, without offset or deduction, one-twelfth (1/12th) of the Annual Statement of Estimated Costsadjusted to an annual basis if necessary. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within thirty (30) days after delivery of the Annual Report of Costs, Tenant shall pay to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually the monthly instalments, if any, paid by the Tenant as in respect of the period to which any settlement of Additional Rent for relates is less than the year at issue. (c) amount shown by such statement to be payable by the Tenant, the Tenant shall forthwith pay the amount of the deficiency to the Landlord. If the Annual Report aggregate of Costs indicates that the Estimated Costs monthly instalments, if any, paid by the Tenant exceeded in respect of the actual Direct Costsperiod to which such statement of Additional Rent relates exceeds the amount shown by such statement to be payable by the Tenant, Metered Costs and Proportionate Share of Basic Costs for the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against shall be applied pro tanto in satisfaction of the next installment(s) ensuing instalments of Base Monthly Rent and/or Additional Rent due hereunder and so notify Tenantor paid to the Tenant at the expiry or sooner termination or the Lease.

Payment of Additional Rent. Landlord shall have the right to reasonably estimate the Operating Expenses for each Operating Year. Upon Landlord's or Agent's notice to Tenant of such estimated amount (the "Estimated Operating Expenses Notice"), Tenant shall pay additional rent (“pay, on the first day of each month during that Operating Year, an amount(the "Estimated Additional Rent”") as follows: equal to the estimate of the Operating Expenses divided by 12 (a) With each monthly payment or the fractional portion of Base Monthly the Operating Year remaining at the time Landlord delivers its notice of the estimated amounts due from Tenant for that Operating Year). If the aggregate amount of Estimated Additional Rent pursuant to Section 3.01 aboveactually paid by Tenantduring any Operating Year is less than Tenant's actual ultimate liability for Operating Expenses for that particular Operating Year, Tenant shall pay to the deficiency within 30 days of Landlord, without offset or deduction, one-twelfth (1/12th) of 's written demand therefor. If the Annual Statement aggregate amount of Estimated Costs. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within thirty (30) days after delivery of the Annual Report of Costs, Tenant shall pay to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually paid by Tenant as during a given O▇▇▇▇▇▇ng Year e xceeds Tenant's actual liability for such Operating Year, the excess shall be credited against the Estimated Additional Rent for next due from Tenant during the year at issue. (c) If immediately subsequent Operating Year, except that in the Annual Report of Costs indicates that the Estimated Costs event thatsuch excess is paid by Tenant exceeded during the actual Direct Costsfinal Lease Year, Metered Costs and Proportionate Share then upon the expiration of Basic Costs for the same yearTerm, LandlordLandlord or Agent shall pay Tenant the then-applicable excess promptly after determination thereof. Tenant shall have the right, at its sole electioncost and expense at reasonable times upon reasonable notice, to audit or have its appointed accountant or auditor audit or review the books and records of Landlord related to Operating Expenses provided that no such audit or review shall occur more frequently than once each calendar year. In the event Tenant's audit discloses any discrepancy, Landlord and Tenant shall use their bestefforts to resolve the dispute and make an appropriate adjustment, failing which, they shall submit any such dispute to arbitration pursuant to Section 24.15 below. The decision rendered in such arbitration shall be final, binding and non-appealable. The expenses of arbitration, other than individual legal and accounting expenses which shall be the respective parties' responsibility, shall either be divided equally between the parties. In the event, by agreement or as a result of an arbitration decision, it is determined that there was a miscalculation of Tenant's share of Opera▇▇▇▇ ▇xp enses claimed by the Landlord by more than five percent (i5%), the costs to Tenant of Tenant's audit or review (including legal and accounting costs) pay the amount of shall be reimbursed by Landlord,not to exceed $7,500.00. Any error discovered by such excess to Tenant, audit or (ii) apply such excess against the next installment(s) of Base Monthly Rent and/or Additional Rent due hereunder review which is a recurring error shall also be corrected and so notify Tenantany overpayment shall be promptly refunded.

Payment of Additional Rent. Except as otherwise provided in the last sentence of this Section 7.4, Tenant shall pay additional rent to Landlord monthly, in advance, Tenant's Building or Complex Proportionate Share, as applicable, of an amount estimated by Landlord to be Landlord's approximate average monthly expenditure for such Additional Rent items, which estimated amount shall be reconciled at the end of each calendar year as compared to Landlord's actual expenditure for said Additional Rent items. Within ninety (“90) days after the end of each calendar year, Landlord shall provide to Tenant a statement of the actual Additional Rent”) as follows: (a) With each monthly payment of Base Monthly Rent pursuant to Section 3.01 above, due for the preceding calendar year. Tenant shall pay to Landlord, without offset upon demand, any amount expended by Landlord for said Additional Rent items in excess of said estimated amount, or deduction, one-twelfth Landlord shall credit (1/12thor refund to Tenant if no further installments of Base Rent or Additional Rent are due hereunder) any amount of estimated payments made by Tenant in excess of Landlord's actual expenditures for said Additional Rent items against the next installments of Base Rent and Additional Rent due hereunder. Landlord shall use reasonable efforts to notify Tenant at least sixty days prior to the commencement of each year of the Annual Statement amount estimated by Landlord to be Tenant's Building or Complex Proportionate Share, as applicable, of Estimated Costs. If at any time Landlord obtains information that indicates that any of the categories of cost comprising Estimated Costs are significantly different than as calculated in the Annual Statement of Estimated Costs then in effect, Landlord may amend said Statement in order to reflect a more accurate prediction of the actual costs that will be incurred during the Additional Rent items for such calendar year, and Tenant will pay amended Additional Rent consistent with said amended Statement. (b) Within . Such estimates may be revised by Landlord from time to time upon thirty (30) days days' prior written notice to Tenant. Tenant shall be entitled during normal business hours and upon reasonable advance notice to audit the books and records of Landlord relating to the Additional Rent expenses within eighteen (18) months after delivery the end of the Annual Report of Costs, Tenant shall pay year to Landlord the amount by which Direct Costs, Metered Costs and Proportionate Share of Basic Costs, as specified in the Report, exceed the aggregate of Estimated Costs actually paid by Tenant as Additional Rent for the year at issuesuch expenses relate. (c) If the Annual Report of Costs indicates that the Estimated Costs paid by Tenant exceeded the actual Direct Costs, Metered Costs and Proportionate Share of Basic Costs for the same year, Landlord, at its sole election, shall either (i) pay the amount of such excess to Tenant, or (ii) apply such excess against the next installment(s) of Base Monthly Rent and/or Additional Rent due hereunder and so notify Tenant.