Real Estate Tax Escalations. (a) The term “Taxes” and “Real Estate Taxes” as used herein, shall mean the real estate taxes and assessments (including special assessments) on or with respect to the Building and the Land, assessed, levied, or imposed by any governmental authority having jurisdiction, including, without limitation, (i) assessments made upon or with respect to any “air” and “development” rights now or hereinafter appurtenant to or affecting the Land; (ii) any fee, tax or charge imposed by any governmental authority for any vaults, vault space or other space within or outside the boundaries of the Land; and (iii) any taxes or assessments levied after the date of this Lease in whole or in part for the public benefits to the Land or the Building, including, without limitation, Business Improvement District taxes and assessments; without taking into account any discount that Landlord may receive by virtue of any early payment of Taxes, in ease case, calculated as if the Land and Building were the only asset of Landlord; provided, that if because of any change in the taxation of real estate, any other tax or assessment however denominated (including without limitation any franchise, income, profit, sales, use, occupancy, gross receipts or rental tax) is imposed upon Landlord or the owner of the Land or the Building, or the occupancy, rents or income therefrom, in substitution for any of the foregoing taxes, such other tax or assessment shall be deemed part of Taxes computed as if Landlord’s sole asset were the Land and Building. Excluded from the foregoing enumerations of Taxes and Real Estate Taxes will be (i) any income, franchise, inheritance, capital stock, excise, excess profits, occupancy or rent, gift, estate, payroll or stamp taxes or foreign ownership or control taxes or any capital gains tax, deed tax or transfer tax, and mortgage recording tax imposed on Landlord by municipal, state or federal law, (ii) any Taxes resulting from an increase of the assessed value of the Building attributable to additions to the Building which increase the square footage of the Building. The foregoing notwithstanding, Tenant shall be responsible for any increase in Taxes which result from an increase in the assessed value of the building attributable to Landlord’s Work and Tenant’s Work and any replacements. As of the date hereof, to the best of Landlord’s knowledge, the only Taxes affecting the building and/ or Land are the real estate taxes payable to the City of New York.
Real Estate Tax Escalations. Effective as of the Additional Space Commencement Date, with respect to the Additional Space only:
a. For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof to “12,919” is hereby replaced with “4,585”.
b. For purposes of Article 32.01(b)(i) of the Lease, the reference at line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “one and four hundredths percent (1.04%)”.
c. For purposes of Article 32.01(b)(iii) of the Lease, the reference at line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “one and four hundredths percent (1.04%)”.
Real Estate Tax Escalations. Effective as of the Second Additional Space Commencement Date, with respect to the Second Additional Space only:
a. For purposes of Article 32.01(a) of the Lease, the reference at line two (2) thereof to “12,919” is hereby replaced with “10,093”.
b. For purposes of Article 32.01(b)(i) of the Lease, the reference at line two (2) thereof to “two and ninety-five hundredths percent (2.95%)” is hereby replaced with “two and twenty-nine hundredths percent (2.29%)”.
c. For purposes of Article 32.01(b)(iii) of the Lease the “Base Tax Year” shall mean the average of the Real Estate Taxes payable for: (x) the New York City real estate fiscal tax year commencing on July 1, 2013 through June 30, 2014, and (y) the New York City real estate tax year commencing on July 1, 2014 through June 30, 2015”.
Real Estate Tax Escalations. The term “Taxes” and “
Real Estate Tax Escalations. The term "Taxes" and "Real Estate Taxes" as used herein, shall mean the real estate taxes and assessments (excluding special assessments) on or with respect to the Building and the land upon which it is located, assessed, levied, or imposed by any governmental authority having jurisdiction. Excluded from the foregoing enumerations of Taxes and Real Estate Taxes will be (i) any income, franchise, inheritance, capital stock, excise, excess profits, occupancy or rent, gift, estate, payroll or stamp taxes or foreign ownership or control taxes or any so-called "Gains Tax" imposed pursuant to Article 31-B of the New York State Tax Law (the "Gains Tax") and deed tax or transfer tax imposed by Article 29 of the New York State Tax Law, and any mortgage recording tax imposed by Article 11 of the New York State Tax Law, (ii) any expenses incurred by Landlord, or Landlord's estate, including payments to attorneys and appraisers, in contesting the Taxes and Real Estate Taxes by tax certiorari proceedings and such expenses and payments shall be the obligation of Landlord, and (iii) any Taxes resulting from an increase of the assessed value of the Building attributable to an increase in the rentable area of the Building. As of the date hereof, to the best of Landlord's knowledge, the only Taxes affecting the Building and/or the Land are the real estate taxes payable to the City of New York. Tenant covenants and agrees that for each tax fiscal year of the initial lease term commencing with the partial tax fiscal year which begins on January 1, 1997, where the total annual Real Estate Taxes imposed or assessed upon the land and Building for such lease year exceed the Real Estate Tax base for the New York City tax fiscal year 1995/96 (hereinafter referred to as the "Real Estate Real Estate Tax Base Year"), Tenant shall pay to Landlord as additional rent, a sum equal to thirty-two percent (32%) of such excess, which represents Tenant's proportionate share of such excess. The amount of such Additional Rent payable for any tax fiscal year having a duration of less than twelve (12) months shall be prorated and may be billed . and shall be paid retroactively. Tenant shall pay such share of such excess within forty-five (45) days after Landlord provides Tenant with reasonably satisfactory documented proof that it has paid such tax liability for each semi-annual period (a copy of either Landlord’s cancelled check in payment of such Taxes or an official receipt of the taxing author...
Real Estate Tax Escalations. (1) The term “Taxes” and “Real Estate Taxes” as used herein, shall mean the real estate taxes and assessments and any Business Improvement District (“BID”) charges on or with respect to the Building and the land upon which it is located (the “Land”; and together with the Building, the “Property”), assessed, levied, or imposed by any governmental authority having jurisdiction. Excluded from the foregoing enumerations of Taxes and Real Estate Taxes will be (i) any income, franchise, inheritance, capital stock, excise, excess profits, occupancy or rent, gift, estate, payroll or stamp taxes or foreign ownership or control taxes or any capital gains tax, deed tax or transfer tax, and (ii) mortgage recording tax imposed by municipal, state or federal law, and (iii) except as hereinafter provided, any expenses incurred by Landlord, including payments to attorneys and appraisers, in contesting Taxes by tax certiorari proceedings and such expenses and payments shall be the obligation of Landlord. Notwithstanding the foregoing, no decrease, exemption or abatement of Real Estate Taxes applicable to the Real Estate Tax Base Year (as hereinafter defined) on account of any ICAP or similar tax abatement program shall be taken into account by Landlord for purposes of calculating the Tax Base or for Tenant’s Share of Real Estate Tax escalations for Tax Years (as hereinafter defined) it being understood that Real Estate Taxes for the Real Estate Tax Base Year and subsequent Tax Years shall be deemed to include all Real Estate Taxes that would have been otherwise assessed or imposed upon the Property but for the ICAP and/or any other similar abatement.
Real Estate Tax Escalations. Commencing July 1, 2008, Subtenant shall pay real estate tax escalations calculated as provided in Article Thirty of the Prime Lease except that (a) the Base Year shall be computed as the Real Estate Taxes for the fiscal 2007/2008 year, (b) for purposes of this calculation only, Subtenant’s “Proportionate Share” shall be 33.35% (calculated on the basis of the Premises being deemed to contain 72,970 rentable square feet and Sublandlord’s estimation that the Prime Lease Premises is deemed to contain 218,783 square feet); (c) “Subsequent Year” shall mean the twelve month period commencing July 1, 2008. Notwithstanding the foregoing, Subtenant shall not be responsible for any late fees, penalties, or interest imposed as a result of Sublandlord’s failure to timely pay Taxes, provided that Subtenant has timely paid Taxes to Sublandlord.
Real Estate Tax Escalations. Commencing July 1, 2002, Subtenant shall pay real estate tax escalations calculated as provided in Article Thirty of the Prime Lease except that (a) the Base Year shall be 2001-2002, (b) Subtenant's "Proportionate
Real Estate Tax Escalations. 7 Section 2.06. Landlord’s Statements; Tenant’s Audit. 8
Real Estate Tax Escalations. If in any fiscal tax year (currently July 1 to June 30) during the term of this Lease, the Taxes, as herein after defined, shall exceed Fiscal Year 2023 (7/1/22 - 6/30/23) Taxes (the “Base Year Taxes”), Tenant shall pay Landlord as Additional Rent its Proportionate Share of any such excess, which amount shall be known as the “Tax Excess”.
