Effect of Proposition 8 Reductions Sample Clauses

Effect of Proposition 8 Reductions. Notwithstanding any other provision of this Lease, the amount of Tax Expenses for the Base Year shall be calculated without taking into account any decrease in real estate taxes obtained in the Base Year or, retroactively, in any Comparison Year pursuant to California Revenue and Taxation Code Sections51 (a “Proposition 8 Reduction”). However, subject to the terms of Section4.7, Tax Expenses for any Comparison Year shall be calculated by taking into account any Proposition 8 Reduction applicable to said Comparison Year(s). Therefore, Tenant acknowledges that, under certain limited circumstances where Landlord obtains a Proposition 8 Reduction for a Comparison Year (or the Base Year), Tax Expenses for the year in which said reduction is applicable may be greater than those actually incurred by Landlord, and may be passed through in subsequent Comparison Years if and to the extent actually incurred by Landlord.
Sample 1
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Effect of Proposition 8 Reductions. Notwithstanding any other provision of this Lease, the amount of Tax Expenses for the Base Year shall be calculated without taking into account any subsequent decreases in real estate taxes obtained in any Comparison Year in connection with California Revenue and Taxation Code Section 51 (each, a “Proposition 8 Reduction”). Subject to the terms of Section 4.7, Tax Expenses for any Comparison Year shall be calculated taking into account any Proposition 8 Reduction applicable to any one or more Comparison Year(s). Therefore, Tenant acknowledges that, under certain limited circumstances where Landlord has obtained a Proposition 8 Reduction, the Tax Expenses for the Base Year or any Comparison Year may be greater than those actually incurred by Landlord, but shall nonetheless be deemed to be the Tax Expenses from which Tenant’s Share is determined.
Sample 1

Related to Effect of Proposition 8 Reductions

  • Deemed Compliance with Proposition 65 The Parties agree that compliance by Xxxxxxxx with this Settlement Agreement constitutes compliance with Proposition 65 with respect to exposure to DEHP from use of the Products.

  • Effect of Completion This agreement shall, as to any of its provisions remaining to be performed or capable of having or taking effect following Completion, remain in full force and effect notwithstanding Completion.

  • Termination by Regulators All obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) by the Director of the Office of Thrift Supervision (the "Director") or his or her designee, at the time the Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA; or (2) by the Director or his or her designee, at the time the Director or his or her designee approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by any such action.

  • EFFECT OF COMPLIANCE Compliance with and fulfillment of this Agreement shall be deemed to resolve all issues raised in the NOV.

  • Treatment of Property All property purchased or furnished by DSHS for use by the Contractor during this Contract term shall remain with DSHS. Title to all property purchased or furnished by the Contractor for which the Contractor is entitled to reimbursement by DSHS under this Contract shall pass to and vest in DSHS. The Contractor shall protect, maintain, and insure all DSHS property in its possession against loss or damage and shall return DSHS property to DSHS upon Contract termination or expiration.

  • Conclusiveness of Statements; Survival of Provisions Determinations and statements of any Lender pursuant to Sections 8.1, 8.2, 8.3 or 8.4 shall be conclusive absent demonstrable error. Lenders may use reasonable averaging and attribution methods in determining compensation under Sections 8.1 and 8.4, and the provisions of such Sections shall survive repayment of the Obligations, cancellation of any Notes, expiration or termination of the Letters of Credit and termination of this Agreement.

  • Effect of Prohibited Transfer The Company shall not be required (a) to transfer on its books any of the Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Agreement, or (b) to treat as owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or transferred.

  • Effect of Suspension You must pay all applicable fees incurred before and during any suspension. You will not be entitled to any service credits under an applicable Service Level Agreement or Service Level Objective during any suspension.

  • Effect of Review Interconnected Transmission Owner's and Transmission Provider’s reviews of Interconnection Customer's initial drawings of the Customer Interconnection Facilities shall not be construed as confirming, endorsing or providing a warranty as to the fitness, safety, durability or reliability of such facilities or the design thereof. At its sole cost and expense, Interconnection Customer shall make such changes to the design of the Customer Interconnection Facilities as may reasonably be required by Transmission Provider, in consultation with the Interconnected Transmission Owner, to ensure that the Customer Interconnection Facilities meet Applicable Standards and, to the extent that design of the Customer Interconnection Facilities is included in the Facilities Study, to ensure that such facilities conform with the Facilities Study.

  • Suspension and termination of procedure 1. The disputing Parties may agree to suspend the work of the Panel at any time for a period not exceeding 12 months following the date of such agreement. In any event, if the work of the Panel has been suspended for more than 12 months, the authority of the Panel shall lapse, unless the disputing Parties agree otherwise. If the authority of the Panel lapses and the disputing Parties have not reached an agreement on the settlement of the dispute, nothing in this Article shall prevent a Party from requesting a new proceeding regarding the same matter. 2. At any time prior to the release of the Panel report, the Parties may agree to terminate the procedures before a Panel by jointly notifying the chair of the Panel on this respect.

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