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Agmt05 Provident Credit Union
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Agmt05 Provident Credit Union
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Last modified
1/3/2006 10:58:54 AM
Creation date
1/3/2006 10:54:18 AM
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Template:
Agreement
Contractor Name
Provident Credit Union
PROJECT NAME
lease - expires August 31 2010
RMP File Number
304
Date
9/1/2005
MO Ref
05-185
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<br />materials (including asbestos), to the extent landlord shall be required by any <br />applicable governmental agency to incur such costs, and to the further extent <br /> <br />such costs are not direct expenses of Tenant arising under Section 4.3 of the <br /> <br />lease; <br /> <br />(p) <br /> <br />any costs for operating expenses in excess of <br /> <br />one hundred percent (100%) of the actual amount of any such expenses <br /> <br />incurred. <br /> <br />2.3.7 Gross-up. <br /> <br />If the Building is less than ninety-five percent <br /> <br />(95%) occupied during any Adjustment Period, then Operating Expenses for the <br />Adjustment Period shall be "grossed-up" to that amount of Operating Expenses <br /> <br />that, using reasonable projections, would normally be expected to be incurred <br />during Adjustment Period if the Building has been ninety-five percent (95%) <br /> <br />occupied during the Adjustment Period, as determined in accordance with sound <br />accounting and management practices, consistently applied. Only those <br /> <br />component expenses that are affected by variations in occupancy levels shall be <br />grossed up. <br /> <br />2.3.8 Manner of Payment. To provide for current payments of <br />the Rental Adjustment, Tenant shall, at Landlord's request, pay as Additional <br /> <br />Rent during each Adjustment Period an amount equal to Landlord's reasonable <br />estimate of the Rental Adjustment which will be payable by Tenant for such <br /> <br />Adjustment Period. Such payments shall be made in monthly installments or as <br />the Landlord may designate from time to time. Additional Rent shall be due thirty <br /> <br />days after written notice by Landlord. If Landlord designates monthly <br />installments, they shall commence on the first day of the month following the <br /> <br />month in which Landlord notifies Tenant of the amount it is to pay hereunder and <br />continuing until the first day of the month following the month in which Landlord <br /> <br />¿1~ <br />~ <br />
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