Prop 13 Protection Sample Clauses

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Prop 13 Protection. In the event that, at any time following the execution of this Lease, and during the Lease Term (but not during any Option Terms), any sale, refinancing, or change in ownership of the Real Property is consummated, or any "new construction" in connection with future development of buildings or improvements at the Real Property is completed, and as a result thereof, and to the extent that in connection therewith, the Real Property is reassessed (the "Reassessment") for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13 or any similar legislation, then Tenant shall not be obligated to pay Tenant’s Share of the portion of the “Tax Increase” (as defined below) during the periods shown in the table below applicable to the first Reassessment occurring following the Effective Date, except to the extent any such Tax Increase (or any portion thereof) is included in both the Base Year and the subsequent Expense Years; provided, however, Tenant shall be obligated to pay one hundred percent (100%) of Tenant’s Share of any subsequent Tax Increase in incurred in connection with any subsequent Reassessments occurring due to a sale, refinancing, or change in ownership of the Real Property after the first Reassessment that occurs following the Effective Date. Notwithstanding the foregoing, if the Landlord Improvements or the Tenant Improvements triggers a Reassessment, Tenant shall not receive the protection provided herein due to the same, and the receipt of such protection should not be considered the “first Reassessment, but the Tax Expenses during the Base Year shall be deemed to include all Tax Expenses which would have been assessed during the Base Year had the Landlord Improvements and Tenant Improvements been completed and the Real Property assessed in full for the entire Base Year.
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Related to Prop 13 Protection

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  • Virus Protection The Bank is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware.

  • System Protection To prevent compromise of systems which contain DSHS Data or through which that Data passes: a. Systems containing DSHS Data must have all security patches or hotfixes applied within 3 months of being made available. b. The Contractor will have a method of ensuring that the requisite patches and hotfixes have been applied within the required timeframes. c. Systems containing DSHS Data shall have an Anti-Malware application, if available, installed. d. Anti-Malware software shall be kept up to date. The product, its anti-virus engine, and any malware database the system uses, will be no more than one update behind current.

  • Eye Protection Where an employee is required by the College or by legislation, in order to perform his/her duties, to acquire and wear prescription eye protection, the employee shall provide the College with proof of purchase by March 1 each year and the College shall reimburse to such employee, on the first pay day of April in each year, up to a maximum of twenty dollars ($20.00); in situations other than the foregoing, the College, may in its discretion, (which discretion shall not be unreasonably exercised) reimburse such expense where it is recommended by the health and safety committee constituted under the Occupational Health and Safety Act.

  • Job Protection 15.9.1 Subject to 15.10 below, an employee returning from parental leave is entitled to resume work in the same position or a similar position to the one they occupied at the time of commencing parental leave. A similar position means a position: (a) At the equivalent salary, grading; (b) At the equivalent weekly hours of duty; (c) In the same location or other location within reasonable commuting distance; and (d) Involving responsibilities broadly comparable to those experienced in the previous position. 15.9.2 Where applicable, employees shall continue to be awarded increments when their incremental date falls during absence on parental leave.