Impositions Rental Clause Samples
The Impositions Rental clause defines the tenant's responsibility to pay or reimburse the landlord for certain taxes, charges, or governmental fees related to the leased property. Typically, this clause applies to property taxes, assessments, or other impositions that may be levied by local authorities, and it may require the tenant to pay these amounts directly or as additional rent. Its core function is to allocate the financial burden of such governmental charges to the tenant, ensuring the landlord is not out-of-pocket for these expenses during the lease term.
Impositions Rental. Commencing upon expiration of the Base Year, Tenant shall pay to Landlord, throughout the remainder of the Term as Additional Rent, Tenant’s Proportionate Share (as defined in Section 1.15) of the amount by which the Impositions (as hereinafter defined) during each Calendar Year exceed the Impositions for the Base Year (“Impositions Rental”). In the event that the Expiration Date is other than the last day of a Calendar Year, then Impositions for the Base Year and applicable Calendar Year shall be appropriately prorated.
Impositions Rental. Commencing upon the Premises Delivery Date, Tenant shall pay to Landlord, throughout the remainder of the Term as Additional Rent, Tenant’s Project Proportionate Share (as defined in Section 1.15) of the Impositions (as hereinafter defined) for each Calendar Year (“Impositions Rental”). In the event that the Premises Delivery Date or Expiration Date is other than the first or last day of a Calendar Year, then Impositions for the applicable Calendar Year shall be appropriately prorated. Tenant’s Project Proportionate Share of Impositions from the Premises Delivery Date through June 30, 1997, shall be payable to Landlord on the later of (i) June 1, 1997, or (ii) fifteen (15) days after written notice from Landlord to Tenant of the amount of Tenant’s Project Proportionate Share of Impositions for such period. Thereafter, one-half of Tenant’s Project Proportionate Share of Impositions shall be payable to Landlord on each of the later of (i) the date such Impositions are due to the taxing authorities (such date currently being the first day of October and the first day of February of each Calendar Year), or (ii) ten (10) days after written notice from Landlord to Tenant of the amount of Tenant’s Project Proportionate Share of Impositions for such applicable period. Notwithstanding the foregoing, if for any Calendar Year Tenant’s Project Proportionate Share of Impositions paid is less than Tenant’s Project Proportionate Share of actual Impositions, Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of a statement to Landlord.
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Impositions Rental. The last sentence of Section 7.2 of the Lease is hereby deleted, effective as of the Commencement Date for the Extended Term. With respect to “Impositions,” as that term is defined in Section 7.2 of the Lease, arising or accruing during the Extended Term, the following shall apply. Notwithstanding anything to the contrary contained in the Lease, as amended, effective as of the Commencement Date for the Extended Term, in the event that at any time during the Extended Term any sale, refinancing, or change in ownership of the Project is consummated, and as a result thereof, and to the extent that in connection therewith, the Project is reassessed (the “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the terms of this Section 4 shall apply to such Reassessment of the Project.
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