Proration of Real Estate Taxes Sample Clauses
Proration of Real Estate Taxes. All general and special assessments by any governmental authority which are a lien on the Property as of the Closing Date and which are not collected as part of the property tax assessment shall be paid by Seller in full at the Closing. Regular property taxes shall be prorated between the parties as of the Closing Date.
Proration of Real Estate Taxes. Ad valorem real estate taxes applicable to the Land, if any, for the current year shall be prorated at Closing. If the Closing occurs before the tax rate is fixed for that year, the proration of taxes, if applicable, shall be based upon the tax rate for the preceding year applied to the latest assessed valuation. All other ad valorem real estate taxes and assessments (e.g. if the Land is part of a larger tax assessment parcel) shall be paid by the City, if required, at Closing.
Proration of Real Estate Taxes. Tenant shall pay all real property taxes and any general and/or special assessments which are due and payable, if any, on or before the date of the Closing, or which otherwise constitute a lien upon the Premises as of the date of the Closing pursuant to Section 4.1. Current taxes assessed for the year in which the Closing takes place shall be equitably prorated through the date of the Closing on the basis of the latest available tax bills covering the Leased Premises. If, at the Closing, the Leased Premises or any part thereof shall be subject to any assessment(s) which are or may become payable in annual installments of which the first installment is then due or has been paid, then for the purposes of this Lease all the unpaid installments of any such assessment, including those which are to become due and payable after the delivery of the deed to the Leased Premises, shall be deemed to be due and payable at the Closing and to be liens upon the Leased Premises and shall be paid and discharged by the Tenant at or prior to the Closing.
Proration of Real Estate Taxes. Real Estate Taxes ------------ ------------------------------ assessed for the calendar years in which the Term commences and ends shall be prorated based upon the number of days within each such calendar year as shall fall within the Term. Landlord shall reimburse Tenant for Landlord's pro rata share of the Real Estate Taxes assessed for the calendar year in which the Term commences promptly upon receipt by Landlord of satisfactory evidence of the payment of such Real Estate Taxes by Tenant. Tenant shall pay on the date of termination of this Lease all Real Estate Taxes due and payable during the calendar year in which the Term ends and Tenant's pro rata share of Real Estate Taxes assessed for the calendar year in which the Term ends. If the amount of such Real Estate Taxes is not then determined, the most recently available tax rates and assessed valuations shall be used in determining the amount to be paid under this Section 9.02.
Proration of Real Estate Taxes. All general or special ------------------------------ assessments by any governmental authority which are a lien on the Property as of the Closing Date shall be paid by Seller in full at the Closing.
Proration of Real Estate Taxes. (Check one box only)
Proration of Real Estate Taxes. Real estate taxes shall be prorated to the date of closing based upon the actual taxes levied against the Property. Special assessments that have become a legal lien but remain unpaid as of the date of Closing shall be prorated in escrow.
Proration of Real Estate Taxes. Seller shall pay all real estate taxes for the Property and installments of all special assessments certified for payment with the real estate taxes due and payable in all years prior to the year of Closing. Seller shall also pay the unpaid balance of any special assessments levied or pending as of the Closing Date. Real estate taxes for the Property due and payable in the year of Closing shall be prorated between Seller and Buyer to the Closing Date; provided, however, Seller shall pay the entire portion of any special assessment certified for payment with the real estate taxes for the year of Closing. Buyer shall assume responsibility for the payment of all real estate taxes for the Property due and payable in years subsequent to the year of Closing. If the amount of any real estate taxes, charges or assessments that are due and payable have not been finally assessed or determined as of the Closing Date, then the same shall be adjusted as of Closing based upon the most recently issued bills therefor, and shall be readjusted when final bills are issued.
Proration of Real Estate Taxes. The proration of the real estate taxes actually due and payable during the Closing Tax Year shall be calculated as follows:
(a) Seller shall be responsible for that portion of such taxes equal to (i) the total such taxes due and payable during the Closing Tax Year, multiplied by (ii) a fraction, the numerator of which shall be the number of days in the Closing Tax Year prior to the Closing Date, and the denominator of which shall be 365; and
(b) Buyer shall be responsible for that portion of such taxes equal to (i) the total such taxes due and payable during the Closing Tax Year, multiplied by (ii) a fraction, the numerator of which shall be the number of days in the Closing Tax Year subsequent to and including the Closing Date, and the denominator of which shall be 365.
Proration of Real Estate Taxes. Real estate taxes for the then current year relating to the Property shall be prorated as of the Closing Date. In the event that the Property is not separately assessed by applicable taxing authorities and is assessed together with other property of Seller, then for purposes of the proration set forth herein, the taxes attributable to the Property shall be calculated by multiplying the total taxes covered by the applicable tax xxxx by a fraction, the numerator of which is the number of square feet of the Property and the denominator of which is the total number of square feet of land (including the Property) covered by such tax xxxx; provided, however, the real estate taxes attributable to the value of any building improvements shall be attributed to the property upon which such building improvements are located. If the Closing shall occur before the actual taxes for the then current year (excluding supplemental taxes arising as a consequence of the sale of the Property) are known, the proration of taxes shall be upon the basis of taxes for the Property (calculated as aforesaid, if the Property is not separately assessed) for the immediately preceding year; provided that, if the taxes for the current year (excluding supplemental taxes arising as a consequence of the sale of the Property) are thereafter determined to differ from the taxes for the preceding year (after any appeal of the assessed valuation thereof is concluded) by more than One Hundred Dollars ($100), then Buyer and Seller shall promptly adjust the proration of such taxes, with Seller or Buyer, as the case may be, paying to the other any amount required as a result of such adjustment. All special taxes and assessments actually assessed prior to the Closing Date shall be prorated as set forth above, and those assessed after the Closing Date shall be paid by Buyer. Under no circumstances shall Seller be responsible for any property taxes to the extent such taxes increase as a result of the sale of the Property to Buyer or Buyer's ownership, use or development of the Property. This Section 7.4 shall not merge with the deed delivered hereunder but shall survive Closing.