Common use of Base Year Adjustments Clause in Contracts

Base Year Adjustments. If Taxes for the Base Tax Year are reduced as the result of protest, or by means of agreement, or as the result of legal proceedings or otherwise, Landlord shall adjust Tenant’s obligations for Taxes in all years following the Base Tax Year, and Tenant shall pay Landlord within 30 days after notice any additional amount required by such adjustment for any such years or portions thereof that have theretofore occurred. Landlord shall exclude from Base Year Expenses any non-recurring items, including capital expenditures otherwise permitted under Article 32 of the Lease (and shall only include the amortization of such expenditures in subsequent year Expenses to the extent permitted under Article 32, including any remaining amortization of permitted capital expenditures made prior to or after the Commencement Date). If Landlord eliminates from any subsequent year Expenses a recurring category of expenses previously included in Base Year Expenses, Landlord shall subtract such category from Base Year Expenses commencing with such subsequent year.

Base Year Adjustments. If Taxes for the Base Tax Year are reduced as the result of protest, or by means of agreement, or as the result of legal proceedings protest or otherwise, Landlord shall adjust may use the final reduced amount of Taxes for the Base Tax Year to compute Tenant’s obligations for increases in Taxes in all years during the Term. In such case, Tenant shall pay Landlord, within fifteen (15) days after notice, any additional amount of Taxes required by such computation for any period that has theretofore occurred during the Term following the Base Tax Year, and Tenant shall pay Landlord within 30 days after notice any additional amount required by such adjustment for any such years or portions thereof that have theretofore occurred. Landlord shall may exclude from Base Year Expenses any non-recurring items, including capital expenditures otherwise permitted under Article 32 of the Lease 30 (and shall only include the amortization of such expenditures in subsequent year Expenses to the extent permitted under Article 32, including any remaining amortization of permitted capital expenditures made prior to or after the Commencement Date30). If Landlord eliminates from any subsequent year Expenses a recurring category of expenses Expenses previously included in Base Year Expenses, Landlord shall may subtract such category from Base Year Expenses commencing with such subsequent year.

Base Year Adjustments. If Taxes for the Base Tax Year are reduced as the result of protest, or by means of agreement, or as the result of legal proceedings protest or otherwise, Landlord shall adjust may use the final reduced amount of Taxes for the Base Tax Year to compute Tenant’s 's obligations for increases in Taxes in all years during the Term. In such case, Tenant shall pay Landlord, within fifteen (15) days after notice, any additional amount of Taxes required by such computation for any period that has theretofore occurred during the Term following the Base Tax Year, and Tenant shall pay Landlord within 30 days after notice any additional amount required by such adjustment for any such years or portions thereof that have theretofore occurred. Landlord shall may exclude from Base Year Expenses any non-recurring items, including capital expenditures otherwise permitted under Article 32 of the Lease 30 (and shall only include the amortization of such expenditures in subsequent year Expenses to the extent permitted under Article 32, including any remaining amortization of permitted capital expenditures made prior to or after the Commencement Date30). If Landlord eliminates from any subsequent year Expenses a recurring category of expenses Expenses previously included in Base Year Expenses, Landlord shall may subtract such category from Base Year Expenses commencing with such subsequent year.

Base Year Adjustments. If Taxes for the Base Tax Year are reduced as the result of protest, or by means of agreement, or as the result of legal proceedings protest or otherwise, Landlord shall adjust may use the final reduced amount of Taxes for the Base Tax Year to compute Tenant’s 's obligations for increases in Taxes in all years during the Term. In such case, Tenant shall pay Landlord, within fifteen (15) days after notice, any additional amount of Taxes required by such computation for any period that has theretofore occurred during the Term following the Base Tax Year, and Tenant shall pay Landlord within 30 days after notice any additional amount required by such adjustment for any such years or portions thereof that have theretofore occurred. Landlord shall may exclude from Base Year Expenses any non-recurring nonrecurring items, including capital expenditures otherwise permitted under Article 32 of the Lease 30 (and shall only include the amortization of such expenditures in subsequent year Expenses to the extent permitted under Article 32, including any remaining amortization of permitted capital expenditures made prior to or after the Commencement Date30). If Landlord eliminates from any subsequent year Expenses a recurring category of expenses Expenses previously included in Base Year Expenses, Landlord shall may subtract such category from Base Year Expenses commencing with such subsequent year.