8x8 2016 Annual Report Download - page 108
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Please find page 108 of the 2016 8x8 annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.unless cause exists for some other review schedule. Such testing shall be at Tenant's expenses only if Landlord has a reasonably basis for
suspectingandconfirmsthepresenceofHazardousMaterialsaboutthePropertywhicharecausedbyTenantorTenant'sAgentsinviolationofthis
ArticleVI.
"HazardousMaterials"meansanyhazardouswasteorhazardoussubstanceasdefinedinanyfederal,state,county,municipal,orlocalstatute,
ordinance,rule,orregulationapplicabletotheProperty,including,withoutlimitation,theEnvironmentalLaws."HazardousMaterials"shallalso
includeasbestosorasbestos-containingmaterials,radongas,petroleumorpetroleumfractions,ureaformaldehydefoaminsulation,transformers
containing levels of polychlorinated biphenyls greater than 50 parts per million, and chemicals known to cause cancer or reproductive toxicity,
whetherornotdefinedasahazardouswasteorhazardoussubstanceinanysuchstatute,ordinance,rule,orregulation.
ARTICLEVII
OPERATINGEXPENSES;TAXES;UTILITIES
7.1 Tenant to Bear Tenant's Share of Operating Expenses . Tenant shall pay to Landlord, as an item of Additional Rent, Tenant's Share (as
definedinSection7.2)of(i)ProjectCostsinexcessoftheProjectCostsExpenseBase("ExcessProjectCosts"),and(ii)RealPropertyTaxesin
excessoftheTaxExpenseBase("ExcessRealPropertyTaxes").PriortotheCommencementDateandthereafterpriortothecommencement
ofeach ofLandlord's fiscalyears duringtheTerm,LandlordshallgiveTenantawritten estimateof Tenant'sShare ofExcess ProjectCostsand
ExcessRealPropertyTaxesfortheensuingfiscalyearorpartialfiscalyear,asthecasemaybe.CommencingonJanuary1,2017andcontinuing
thereafterthroughouttheTerm,Tenantshallpay,asanitemofAdditionalRent,suchestimatedamountinequalmonthlyinstallments,inadvance,
onorbeforethefirst(1st)dayofeachcalendarmonth.IfLandlordhasnotfurnisheditswrittenestimatebythetimesetforthabove,Tenantshallpay
monthlyinstallmentsofExcessProjectCostsandExcessRealPropertyTaxesattherateestablishedforthepriorfiscalyear,ifany;providedthat
whenthenewestimateisdeliveredtoTenant,TenantshallatthenextmonthlypaymentdatepayLandlordanyaccrueddeficiencybasedonthe
new estimate, or Landlord shall credit any accrued overpayment based on such estimate toward Tenant's next installment payment hereunder.
Withinareasonableperiodoftimeaftertheendofeachfiscalyear,LandlordshallfurnishTenantastatement("AnnualStatement")showingin
reasonabledetailTenant'sShareoftheactualExcessProjectCostsandExcessRealPropertyTaxesincurredfortheperiodinquestion;provided,
however,withrespecttothefiscalyearduringwhichthisLeaseexpiresorsoonerterminates,ratherthanwaituntilafterthedeterminationofactual
Operating Expenses for such fiscal year to furnish Tenant with an Annual Statement for said fiscal year, Landlord may, at its election,provide
TenantwithanAnnualStatementforsuchfiscalyearpriortotheendofsuchfiscalyearbasedonestimated(notactual)OperatingExpensesfor
such fiscal year, as determined by Landlord, which Annual Statement shall not be subject to further adjustment or reconciliation once actual
OperatingExpensesaredeterminedforsuchfiscalyear.IfTenant'sestimatedpaymentsarelessthanTenant'sShareofactualOperatingExcess
ProjectCostsandExcessRealPropertyTaxesasshownbytheapplicableAnnualStatement,TenantshallpaythedifferencetoLandlordwithin
thirty(30)daysthereafter.IfTenantshallhaveoverpaidLandlord,LandlordshallcreditsuchoverpaymenttowardTenant'snextinstallmentpayment
hereunder.WhentheAnnualStatement isfurnished toTenant forthe fiscalyear inwhich thisLease expiresor soonerterminates, Tenantshall,
evenifthisLeasehasexpiredorsoonerterminated,paytoLandlordwithinfifteen(15)daysafterNoticetheexcessofTenant'sShareoftheactual
Excess Project Costs and Excess Real Property Taxes set forth in such Annual Statement over the estimate of Tenant's Share of such Excess
ProjectCostsandExcessRealPropertyTaxespaidbyTenant.Conversely,anyoverpaymentshallberebatedbyLandlordtoTenant.IfthisLease
expiresorsoonerterminatesonadayotherthanthelastdayofafiscalyear,Tenant'sShareofExcessProjectCostsandExcessRealProperty
Taxesforsuchpartialfiscalyearshallbecalculatedovertheentiretwelve-monthfiscalyear,butshallbeproratedonthebasisbywhichthenumber
ofdaysfromthecommencementofsuchfiscalyeartoandincludingtheexpirationorsoonerterminationofthisLeasebearsto365.IfLandlordshall
determineatanytimethattheestimateofTenant'sShareofExcessProjectCostsandExcessRealPropertyTaxesforthecurrentfiscalyearisor
will become inadequate to meet Tenant's Share of all such Operating Expenses for any reason, Landlord may, at its election, determine the
approximateamountofsuchinadequacyandissueasupplementalestimateastoTenant'sShareofsuchOperatingExpenses,andTenantshall
payanyincreaseasreflectedbysuchsupplementalestimate.Landlordshallkeeporcausetobekeptseparateandcompletebooksofaccounting
coveringallOperatingExpensesandshowingthemethodofcalculatingTenant'sShareofExcessProjectCostsandExcessRealPropertyTaxes,
andshallpreserveforatleasttwelve(12)monthsafterthecloseofeachfiscalyearallmaterialdocumentsevidencingsaidOperatingExpensesfor
thatfiscalyear.AnydelayorfailurebyLandlordindeliveringanyestimateorstatementpursuanttothisSection7.1shallnotconstituteawaiverof
itsrighttorequireTenanttopayTenant'sShareofExcessProjectCostsandExcessRealPropertyTaxespursuanthereto.IftheBuildingisnotat
least95%occupiedduringanyfiscalyear,asdeterminedbyLandlord,thenOperatingExpensesshallbecomputedbyLandlordforsuchfiscalyear
asiftheBuildinghadbeen95%occupiedduringsuchfiscalyear.
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