Common use of Proration at Commencement and Expiration of Term Clause in Contracts

Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date and the date of expiration of the Lease Term, except as hereinafter provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments for either year are greater or less that as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein provided.

Appears in 2 contracts

Samples: Master Lease, Master Lease

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Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter herein provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which that Tenant is required or permitted to remove or in fact removes as of the expiration of the Hie Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share ’s Pro Rata Share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein hereinafter provided, and such obligation shall survive the termination or expiration of this Lease.

Appears in 1 contract

Samples: Lease (Insmed Inc)

Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter herein provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which that Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share ’s Pro Rata Share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein hereinafter provided, and such obligation shall survive the termination or expiration of this Lease.

Appears in 1 contract

Samples: Lease (Insmed Inc)

Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, of respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter herein provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full frill amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share Pro Rata Share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein hereinafter provided, and such obligation shall survive the termination or expiration of this Lease.

Appears in 1 contract

Samples: Lease (Spectralink Corp)

Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein provided.

Appears in 1 contract

Samples: Asset Purchase Agreement (Acr Group Inc)

Proration at Commencement and Expiration of Term. Taxes and Assessments Expenses shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of any Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. AdditionallyTenant which are levied, for the year in which the Lease Term expiresassessed, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating or attributable to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments Expenses shall be made on the basis of the actual Taxes and AssessmentsExpenses, billed during the calendar years of the Lease Term. The Tenant's pro rata share Proportionate Share of Taxes and Assessments Expenses for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments Expenses for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments amounts are known, as may be necessary to accomplish payment or proration, as herein provided.

Appears in 1 contract

Samples: Net Lease (Broadband Technologies Inc /De/)

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Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date and the date of expiration of the Lease TermExpiration Date (as extended, if applicable), except as hereinafter herein provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. Additionally, for the year in which the Lease Term expires, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to any improvements, fixtures, equipment or personal property which that Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and Assessments. Tenant's pro rata share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in . In the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, parties at the time the actual Taxes and Assessments are known, as may be necessary to accomplish proration, as herein hereinafter provided, and such obligation shall survive the termination or expiration of this Lease.

Appears in 1 contract

Samples: Lease Agreement (AeroGrow International, Inc.)

Proration at Commencement and Expiration of Term. Taxes and Assessments shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date and the date of expiration of the Lease Term, except as hereinafter provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. AdditionallyTenant which are levied, for the year in which the Lease Term expiresassessed, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating or attributable to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments shall be made on the basis of actual Taxes and AssessmentsAssessments billed during the calendar years of the Lease Term. Tenant's pro rata share Pro Rata Share of Taxes and Assessments for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly monthly Deposits as hereinabove hereinafter provided, but, in the event actual Taxes and Assessments for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, parties at the time the actual Taxes and Assessments assessments are known, as may be necessary to accomplish proration, as herein provided.

Appears in 1 contract

Samples: Lease Agreement (Hypertension Diagnostics Inc /Mn)

Proration at Commencement and Expiration of Term. Taxes and Assessments Expenses shall be prorated between Landlord and Tenant for the year in which the Lease Term commences and for the year in which the Lease Term expires as of, respectively, the Commencement Date date of commencement of the Lease Term and the date of expiration of the Lease Term, except as hereinafter provided. For the year in which the Lease Term commences, Tenant shall be liable without proration for the full amount of any Taxes and Assessments relating to improvements, fixtures, equipment or personal property installed by or on behalf of Tenant. AdditionallyTenant which are levied, for the year in which the Lease Term expiresassessed, Tenant shall be liable without proration for the full amount of Taxes and Assessments relating or attributable to any improvements, fixtures, equipment or personal property which Tenant is required or permitted to remove or in fact removes as of the expiration of the Lease Term. Proration of Taxes and Assessments Expenses shall be made on the basis of the actual Taxes and AssessmentsExpenses, billed during the calendar years of the Lease Term. The Tenant's pro rata share ’s Proportionate Share of Taxes and Assessments Expenses for the years in which the Lease Term commences and expires shall be paid and deposited with the Landlord through Monthly Deposits as hereinabove provided, but, in the event actual Taxes and Assessments Expenses for either year are greater or less that than as estimated for purposes of Monthly Deposits, appropriate adjustment and payment shall be made between the parties, at the time the actual Taxes and Assessments amounts are known, as may be necessary to accomplish payment or proration, as herein provided.

Appears in 1 contract

Samples: Net Lease (TopBuild Corp)

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