ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Redwood City as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against the Leased Premises, Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited. For example: if (i) the property is subject to an annual assessment of $1,000.00, and (ii) a surplus of $200.00 is credited towards the current year's assessment which reduces the assessment amount shown on the property tax bill xxxm $1,000.00 to $800.00, Tenant shall, upon receipt of notice from Landlord, pay to Landlord said $200.00 credit as Additional Rent.
ASSESSMENT CREDITS. The demised property herein is subject to a special assessment levied by the City of Milpitas in Improvement District No.
ASSESSMENT CREDITS. The demised property herein may be subject to a special ------------------ assessment levied by the City of Santa Xxxxx as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds, such surpluses shall be credited for the benefit of said assessment district. To the extent surpluses may be created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against tile Leased Premises, Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited.
ASSESSMENT CREDITS. The demised property herein is subject to a special assessment levied by the City of Milpitas in Improvement District No. 12. As a part of said special assessment proceedings, additional bonds were sold and assessments levied to provide for construction contingencies and reserve funds. Interest will be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be [Illegible] additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited.
ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Sunnyvale as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such
ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Santa Clarx xx part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve
ASSESSMENT CREDITS. Notwithstanding the provisions of section 8.2, the Optionee shall ensure that there are sufficient assessment work credits relating to the Property to maintain them in good standing for a period of at least two years from and after the Effective Date by way of proper application of qualified expenditures previously made in respect of the Property by or on behalf of the Optionor. Forthwith after the recording of such assessment work credits, the Optionee shall provide written proof of same to the (Optionor).
ASSESSMENT CREDITS. In the event that Sage exercises its rights to terminate this Agreement and surrenders all or any of the Mineral Properties to Owner in accordance with Sections 8.01 or 8.02, Sage shall ensure that there are sufficient assessment credits relating to the surrendered Mineral Properties to maintain them in good standing for a period of at least one year from the date that Sage gives notice to Owner of such termination and surrender and insure that the lease rent and tax payments are current.
ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Fremont as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds, which will be credited for the benefit of, said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against the Leased Premises, Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited For example: if
(i) the property is subject to an annual assessment of $1,000.00, and (ii) a surplus of $200.00 is credited towards the current year's assessment which reduces the assessment amount shown on the property tax bill xxxm $1,000.00 to $800.00, Tenant shall, upon receipt) of notice from Landlord, pay to Landlord said $200.00 credit as Additional Rent.
A. In addition to and notwithstanding anything to the contrary in Paragraph 16 of this Lease, Landlord hereby agrees to consent to Tenant's assigning or subletting said Lease and not to receive any Excess Rent (as described in Paragraph 16) to: (i) any parent or subsidiary corporation, affiliate, or corporation with which Tenant merges or consolidates, provided that the net worth of said parent or subsidiary corporation, affiliate, or said corporation has a net worth equal to or greater than the net worth of Tenant at the time of such assignment, merger, or consolidation; or (ii) any third party or entity to whom Tenant sells all or substantially all of its assets; provided, that the net worth of the resulting or acquiring corporation has a net worth after the merger, consolidation or acquisition equal to or greater than the net worth of Tenant at the time of such merger, consolidation or acquisition. No such assignment or subletting will release the Tenant from its liability and responsibility under this Lease to the extent Tenant continues in existence following such transaction. Notwithstanding the above, Tenant shall be required to (a) give Landlord written notice prior to such assignme...
ASSESSMENT CREDITS. In the event that Lodestar exercises its rights to terminate this Agreement and surrenders all or any of the Mineral Dispositions to Owner in accordance with Sections 8.01 or 8.02, Lodestar shall ensure that there are sufficient assessment credits relating to the surrendered Mineral Dispositions to maintain them in good standing for a period of at least two years from the date that Lodestar gives notice to Owner of such termination and surrender.
