NYC 9/11 Public Portal Document
(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
refiind 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.
retroactive or otherwise, by reason of any revision which may later be made in the figure of the
Price Index first published for any month. The Price Index published for any Lease Year shall, for
the purpose of this Subsection A.2., be deemed no lower than the Base Price Index.
5. If the Price index ceases to use the 1982 -84 average equaling 100 as the
basis of calculation, then the Price Index shall be appropriately adjusted to reflect the change in the
Price Index from that in effect at the date of this Lease. If such Price Index shall no longer be
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NYC-WTC_000170594
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