NYC 9/11 Public Portal Document
% which represents Tenant pro rata share of Operating Expenses for the Building. (See example
for calrulafing CPI Index changes below.)
3. Such Operating Expense Escalation for every Lease Year which follows the
Operating Expense Base Year shall be billed and paid as follows:
(a) Within five weeks after the beginning of any such Lease Year, Landlord
shall deliver to Tenant a statement (hereinafter the “Estimate”) showing the estimated amount of
such Operating Expense Escalation payable for the then current Lease Year, which estimated
amount shall be calculated by using the previous Lease Year’s CPI factor according to 2. above.
Tenant shall pay Landlord the same sum, in equal monthly installments ( such monthly installment
hereinafter referred to as the “Amount”) in arrears on the last day of each and every month
during such Lease Year. Such Estimate shall be on account of the Operating Expense Escalation
accruing under this Subsection A.2, subparagraph 3 (b), below for the then current Lease Year.
(b) Within five (5) weeks after the end of the Lease Year, in which such
Amounts were payable under Subparagraph 3 (a) above. Landlord shall deliver to Tenant a
statement of the Operating Expense Escalation payable by Tenant for such Lease Year, computed
in accordance with 2. above. Such statement shall indicate the balance payable by Tenant after
crediting Tenant with the aggregate of the monthly Amount payments made under Subparagraph
3. (a) above for such Lease Year. The amount of such balance shall be paid by Tenant to
Landlord within 45 days after delivery of such statement. If there is an overpayment by Tenant
Landlord shall refund the overpayment to Tenant within 45 days after delivery of the aforesaid
statement.
4. Landlord shall not be obliged to make any adjustments or recomputations.
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