Adjustment of Taxes. For purposes of this Lease, Tax Expenses shall be calculated as if the tenant improvements in the Building were fully constructed and the Project, the Building, and all tenant improvements in the Building were fully assessed for real estate tax purposes. Landlord specifically agrees that the gross receipts component of Tax Expenses for the Base Year and each subsequent year shall be calculated as if the Building were one hundred percent (100%) occupied with rent paying tenants. Accordingly, during the portion of any Expense Year occurring after the Base Year, Tax Expenses shall be considered to be increased appropriately.
Adjustment of Taxes. That the taxes and local improvement rates and, where necessary, all other charges payable by the Tenant hereunder in respect of the first and last years of the Term shall be adjusted between the Landlord and the Tenant accordingly.
Adjustment of Taxes. For purposes of this Lease, Tax Expenses for the Base Year shall be adjusted upon a reassessment of the Project resulting from the construction of a new building within the Project to increase the Base Year Tax Expenses amount by the amount of Tax Expenses attributable to such new building’s assessed value. Accordingly, during the portion of any Expense Year occurring after the Base Year, Tax Expenses shall be considered to be increased appropriately.
Adjustment of Taxes. For purposes of this Lease, Tax ------------------- Expenses (and Taxes included in the definition of Project Operating Costs) shall be calculated as if the tenant improvements in the Building were fully constructed and the Project, the Building, and all tenant improvements in the Building were fully assessed for real estate tax purposes. Landlord specifically agrees that the gross receipts component of Tax Expenses for the Base Year and each subsequent year shall be calculated as if the Building were one hundred percent (100%) occupied with rent paying tenants. Accordingly, during the portion of any Expense Year including the Base Year, Tax Expenses shall be considered to be increased appropriately.
Adjustment of Taxes. 6 8.5. Calculation and Payment of Additional Rent...........................6 8.5.1. Calculation of Excess........................................6 8.5.2. Statement/Payment of Direct Expenses.........................6 8.6. Landlord's Books and Records.........................................7 9.
Adjustment of Taxes. Landlord estimates its costs to be expended for Taxes to be approximately $3.30 per square foot of Floor Area on a fully assessed basis. Notwithstanding anything to the contrary set forth in this Lease, if due to a change in the California tax legislation commonly known as Proposition 13, whether by legislative or administrative action or by judicial determination (a "Prop 13 Change"), Landlord's actual costs expended for Taxes in any year after the year in which the Rent Commencement Date occurs (a "Comparison Year") exceed the amount expended for Taxes for the year in which the Rent Commencement Date occurs (the "Tax Base Year") as adjusted pursuant to Section 5.8, Tenant shall pay its pro rata share (based on Tenant's Floor Area as a fraction of the Floor Area of all of the premises included in the Project) of any such excess (the "Excess Taxes") to Landlord, as additional rent, in the manner set forth below. The foregoing adjustment shall be subject to the following: *** Confidential treatment requested.
Adjustment of Taxes. For purposes of this Lease, Tax Expenses for the Base Year shall be adjusted upon a reassessment of the Project resulting from the construction of a new building within the Project to increase the Base Year Tax Expenses amount by the amount of Tax Expenses attributable to such new building’s assessed value. Landlord specifically agrees that any gross receipts component of Tax Expenses for the Base Year and each subsequent year shall be calculated as if the buildings in the Project were one hundred percent (100%) occupied with rent paying tenants. Accordingly, during the portion of any Expense Year occurring after the Base Year, Tax Expenses shall be considered to be increased appropriately.
Adjustment of Taxes. Tenant hereby acknowledges that title to the Real Property was transferred to Landlord during 1997 before the execution of this Lease, that the Real Property has been or is in the process of being permanently reassessed (as distinguished from a so-called "Proposition 8" reassessment) to reflect Landlord's purchase price for the Real Property and that Tax Expenses for the Base Year shall take into account such reassessment. In addition, for purposes of this Lease, Tax Expenses shall be calculated as if the tenant improvements in the Building were fully constructed and the Real Property, the Building, and all tenant improvements in the Building were fully assessed for real estate tax purposes for the entire Base Year. These provisions shall survive the Lease Expiration Date or other termination of this Lease.
Adjustment of Taxes. 37 13.03. Credits.......................................................................................37 13.04. Tenant Arrearages.............................................................................38
Adjustment of Taxes. The adjustment of real estate and personal property taxes shall be made on the basis of presently available evidence of such taxes, subject to adjustment by payment from Contributor to the Company, or the Company to Contributor, whichever is applicable, after the applicable Closing due to any change in assessment, applicable rate or other reason. Notwithstanding the foregoing, all or any portion of any special assessments, that are a lien as of such Closing and that are not otherwise recoverable from tenants under the Leases shall be paid by Contributor. This Section 13.02 shall survive each Closing and/or sooner termination of this Agreement.
