Operating Expense Statement

Operating Expense Statement. Means a written statement setting forth: (i)the Operating Expense for the preceding Operating Year (or portion thereof if less than a full Operating Year), (ii) the Operating Expense for the Base Year, (iii) Tenant's Operating Expense Adjustment for such preceding Operating Year, prorated if only a part of the Operating Year falls 3 within the Term, (iv) the amount of payments ("Monthly Expense Estimate") made by Tenant against the Operating Expense... Adjustment for the preceding Operating Year, and (v) the Monthly Expense Estimate to be paid against the estimated Operating Expense Adjustment for the current Operating Year. The Operating Expense Statement for each Operating Year shall be prepared in accordance with the terms of this Lease and generally accepted accounting principles, and shall be sent to Tenant within 90 days after the end of the applicable Operating Year. View More