Real Estate Taxes and Assessments. Xxxxx is aware that all property is subject to the possibility of reassessment which may result in increased real estate taxes.
Real Estate Taxes and Assessments. Subject to Section 4(c) below, Tenant shall pay all Real Estate Taxes (as hereinafter defined) levied, assessed, accruing, or imposed from and after the Commencement Date, which shall become due and payable during the Term with respect to the Property. If any such Real Estate Taxes may, at the option of the taxpayer, be paid in installments, Tenant may exercise the option to pay the same in installments; provided Tenant pays all costs and charges related to such installment payment method. All Real Estate Taxes that shall be assessed with respect to a taxable year or period beginning on or before and ending after the Commencement Date or beginning on or before and ending after the Termination Date shall be apportioned pro rata between Landlord and Tenant on a per diem basis in accordance with the respective number of days in such taxable year or period during which this Lease is in effect. “Real Estate Taxes” shall mean the ad valorem real estate taxes levied against the Property (and the improvements and fixtures located thereon), betterment assessments, special benefit taxes and special assessments levied or imposed against the Property, taxes levied or assessed on gross rentals payable by Tenant to the extent charged, assessed or imposed upon tenants in general which are based upon the rents payable under this Lease, any impact fees levied or assessed, whether or not billed by the taxing authority as a special benefit tax or a special assessment, all taxes levied or assessed on the Property that are in addition to or in lieu of taxes that are currently so assessed, and penalties and interest related to Real Estate Taxes if the applicable Real Estate Tax bills have been forwarded to Tenant in a timely manner; provided, however, that Real Estate Taxes shall not include any Excluded Taxes. “Excluded Taxes” shall mean, without limitation, Landlord’s income taxes, gift taxes, excess profit taxes, excise taxes, franchise taxes, estate, succession, inheritance and realty transfer taxes resulting from the transfer of any direct or indirect interest in the Property by Landlord unless such taxes replace Real Estate Taxes in the future (except as expressly set forth in the last sentence of this Section 4(a)), and any interest or penalty charges resulting solely from Landlord’s failure to promptly deliver the Real Estate Tax bills to Tenant if the applicable taxing authority has forwarded the tax xxxx to Landlord rather than Tenant. All special benefit taxes and sp...
Real Estate Taxes and Assessments. (i) Real estate taxes and assessments, both general and special that are payable to the taxing authority (collectively, the "Tax Expense") shall be prorated as of 11:59 PM on the date immediately preceding the Closing Date. Seller shall be responsible for the Tax Expense attributable to the Property prior to, but not including, the Closing Date (except for the Tax Expense, whether actually paid or unpaid, which is payable directly by tenants to the taxing authority for such tenant’s leased premises in accordance with the Leases), and Purchaser shall be responsible for the Tax Expense attributable to the Property on and after the Closing Date. If the Closing occurs prior to the receipt by Seller of the xxxx for the Tax Expense for the calendar year in which the Closing occurs, the Tax Expense shall be prorated on the basis of the last officially certified and available tax duplicate. Monthly and/or lump sum amounts Seller, as landlord, has collected from tenants under the Leases as reimbursements or prepayments of Seller’s Tax Expense (collectively, "Tax Receivables") shall be prorated between Purchaser and Seller as of the Closing Date. The collected Tax Receivables shall be matched against the applicable Tax Expense to which they relate. Seller shall be entitled to Tax Receivables to the extent they relate to the Tax Expense attributable to the period prior to, but not including the Closing Date, and Purchaser shall be entitled to Tax Receivables to the extent they relate to the Tax Expense attributable to the Closing Date or thereafter. After receipt of a final xxxx for the Tax Expense, Purchaser shall promptly prepare and present to Seller a calculation of the re-proration of the Tax Expense and Tax Receivables, based upon the actual amount of such Tax Expense charged and/or Tax Receivables received by the parties for the year or other applicable fiscal period. The parties shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser's calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation. With respect to any portion of the Property that is a separate tax parcel, and the applicable tenant pays the Tax Expense with respect to such parcel directly to the taxing authority under the terms of its lease, the Tax Expense for that parcel shall not be prorated between Purchaser and Seller at Closing as such tenant(s)...
Real Estate Taxes and Assessments. Consolidated real estate taxes and any personal property taxes assessed for the tax year in which Closing occurs shall be prorated as of the Closing based on the latest tax bills available which adjustment shall be final and binding upon the parties after the date of Closing; all prior taxes shall be paid by Seller and all subsequent taxes shall be paid by Buyer. Seller shall pay all special assessments for public improvements constructed or under construction prior to the Closing.
Real Estate Taxes and Assessments. From and after the Effective Date and continuing throughout the Term of this Lease Tenant’s obligations with respect to Real Estate Taxes (as hereinafter defined) shall be as follows:
Real Estate Taxes and Assessments. Seller represents to Buyer that to the best of its knowledge, all real estate taxes and installments of special assessments due and payable on or before the Closing Date have been or will be paid in full as of the Closing Date. It is understood between Seller and Buyer that all unpaid levied and pending special assessments are paid by the Seller and shall be the responsibility of the Seller.
Real Estate Taxes and Assessments. Tenant shall pay all real estate taxes and assessments, including any fees in lieu of taxes, both general and special, which may be levied or assessed by the taxing authorities against the land, buildings and all other improvements within or constituting the Property. Tenant shall pay all real estate taxes and assessments it has been duly assessed directly to the taxing authority.
Real Estate Taxes and Assessments. Real estate taxes, general and special, assessments and other public charges against the Property for the tax year in which Closing occurs shall be prorated (using a 366-day year) as of the Closing Date based upon the most recently available property assessment. If the actual amount of such taxes or assessments is not known as of such date, either because bills for the period in question have not been issued or because such bills cover real property in addition to the Property, the proration at the Closing will be based on the most current and accurate billing information available. Should such proration not be based on the actual amount of the ad valorem taxes for the period in question and should such proration prove to be inaccurate upon receipt of the actual bills for the Property, then, to the extent such incorrect amount exceeds Five Hundred and No/l00 Dollars ($500.00), either Seller or Purchaser may demand at any time after the Closing Date a payment from the other party correcting such malapportionment. The provisions of this paragraph shall survive the Closing for one year.
Real Estate Taxes and Assessments. Real estate taxes and assessments for each Property due and payable for the calendar year in which Closing occurs shall be prorated between Respective Seller and Buyer as of the Closing Date, based upon the most recently available real estate tax information, and to the extent applicable in the jurisdiction where a Property is located, on a cash basis. Each Respective Seller hereby reserves the right to contest any assessment of the Respective Seller’s Property or any portion thereof and to attempt to obtain a refund for any taxes previously paid, and Respective Seller shall retain all rights with respect to any refund of taxes applicable to Respective Seller’s Property that is applicable to any period prior to the Closing Date (provided that to the extent such taxes were paid by or reimbursed by Tenants to a Respective Seller, then such Respective Seller shall turn over such refund to the applicable Tenants). Buyer acknowledges that it has no interest in any proceedings or refunds applicable to any tax year prior to the year in which the Closing occurs, subject to Respective Seller’s return of such refunds to Tenants as required above. The provisions of this Paragraph shall survive the Closing.
Real Estate Taxes and Assessments. Seller shall give Purchaser a credit at closing for the 2021 taxes payable in 2022, based upon the most recent ascertainable tax figures available at closing. Purchaser will assume and pay real estate taxes and drainage taxes/assessments due and payable in 2022 and all tax payments and drainage taxes/assessments thereafter. Any tax proration/allocation made at closing shall be final between the parties and shall not thereafter be adjusted.
