Common use of Reconciliation Statement Clause in Contracts

Reconciliation Statement. a reasonably detailed written statement showing (1) Tenant’s Proportionate Share of the amount by which (A) Operating Charges incurred during the immediately preceding calendar year exceeded the Operating Charges Base Amount (as defined in Section 5.2(a)) (not including utilities or insurance costs), (B) utility costs incurred during the immediately preceding calendar year exceeded utility costs incurred during the Operating Charges Base Year, (C) insurance costs incurred during the immediately preceding calendar year exceeded insurance costs incurred during the Operating Charges Base Year, and (D) Real Estate Taxes for the immediately preceding calendar year exceeded the Real Estate Taxes Base Amount (as defined in Section 5.3(a)), as applicable; and (2) the aggregate amount of Tenant’s estimated payments made on account of Operating Charges, including utility costs, insurance costs, and Real Estate Taxes during such year, as applicable.