Common use of Real Estate Tax Increase Clause in Contracts

Real Estate Tax Increase. If Landlord's Tax Expense for any calendar year or partial calendar year during the Term is greater than the Real Estate Taxes for the Base Calendar Year set forth in Section 1.1, Tenant shall pay to Landlord, as additional rent, its Proportionate Share set forth in Section 1.1 of such excess, as the same may be adjusted in the event of a remeasurement or change in size of the Premises or Building. Landlord may from time to time reasonably estimate the amount due from Tenant under this Section with respect to any calendar year or portion thereof and, commencing no sooner than the first (1st) anniversary of the Term Commencement Date, Tenant shall pay periodically as Landlord may determine, but not more frequently than monthly, the amount of Landlord's estimate as rent with the next due payment of monthly Base Rent. Not later than one hundred twenty (120) days after Landlord's Tax Expense for the applicable period is determined, Landlord shall render Tenant a statement (which shall include copies of real estate tax bills and invoices from tax abatement consultants, if any) showing for the applicable period Landlord's Tax Expense and any other amount due from Tenant or any credit due to Tenant hereunder. Payment by Tenant of any amount due shall be made as additional rent with Tenant's next due payment of monthly Base Rent (or, if the term of this Lease has ended, within ten (10) days of receipt of such statement), and Landlord shall credit the amount of any overpayment against subsequent obligations of Tenant under this clause (or refund such overpayment, if the term of this Lease has ended and Tenant has no further obligations to Landlord). Failure by Landlord to deliver such statement within the one hundred twenty (120) day period does not relieve Tenant of its obligation to pay the charges described herein.

Real Estate Tax Increase. A. For the purpose of this Article, the following terms shall have the following meanings: "lease year" shall mean the twelve-month period commencing on the term commencement date, and each twelve-month period thereafter; "real estate taxes" shall mean any and all amounts which become due and payable during a lease year in respect of taxes and assessments, special or otherwise, imposed upon the Building and the lot upon which it is located; "tax base" shall mean the real estate taxes due and payable for the fiscal year from July 1, 1997 to June 30, 1998. If Landlord's Tax Expense for real estate taxes applicable to any calendar lease year or partial calendar year during the Term is are greater than the Real Estate Taxes for tax base, the Base Calendar Year set forth in Section 1.1, Tenant shall pay to Landlord, as additional rentrent for such lease year a sum equal to 2.7% of the amount by which real estate taxes applicable to a lease year are greater than the tax base (hereinafter called "Tenant's tax payment"). In the event real estate taxes applicable to a lease year are greater than the tax base, its Proportionate Share set forth in Section 1.1 the Landlord may give the Tenant, within ninety (90) days after the end of such excesslease year, or within ninety (90) days after Landlord is notified of such tax, notice of Tenant's tax payment for such lease year; provided, however, that if this lease expires or is terminated during such lease year, Tenant's tax payment shall be limited to an amount equal to Tenant's tax payment for such lease year apportioned as of the date of such expiration or termination, and the Tenant shall make payment of Tenant's tax payment or of the same as apportioned within thirty (30) days after the giving of such notice, notwithstanding the fact that this lease has expired or has been terminated prior to the time of the giving of such notice. In the event the Landlord shall receive any refund as a result of a reduction in real estate taxes for any lease year after the first lease year and a Tenant's tax payment for such lease year has been made by the Tenant, the Landlord shall remit to the Tenant a sum equal to 2.7% of the refund received by the Landlord for such lease year, after deducting from such refund all expenses incurred by the Landlord in connection with obtaining the same, including attorneys' fees. At Landlord's option, any additional rent attributable to an increase in real estate taxes, or any decrease in rent due to a decrease in real estate taxes, shall be payable by Tenant, or credited to Tenant, as the same case may be adjusted be, on a monthly basis allocated evenly over the number of months in the event lease year, or balance of the lease year if such increase or decrease shall be effective during the middle of a remeasurement or change in size of the Premises or Building. Landlord may from time to time reasonably estimate the amount due from Tenant under this Section with respect to any calendar year or portion thereof and, commencing no sooner than the first (1st) anniversary of the Term Commencement Date, Tenant shall pay periodically as Landlord may determine, but not more frequently than monthly, the amount of Landlord's estimate as rent with the next due payment of monthly Base Rent. Not later than one hundred twenty (120) days after Landlord's Tax Expense for the applicable period is determined, Landlord shall render Tenant a statement (which shall include copies of real estate tax bills and invoices from tax abatement consultants, if any) showing for the applicable period Landlord's Tax Expense and any other amount due from Tenant or any credit due to Tenant hereunder. Payment by Tenant of any amount due shall be made as additional rent with Tenant's next due payment of monthly Base Rent (or, if the term of this Lease has ended, within ten (10) days of receipt of such statement), and Landlord shall credit the amount of any overpayment against subsequent obligations of Tenant under this clause (or refund such overpayment, if the term of this Lease has ended and Tenant has no further obligations to Landlord). Failure by Landlord to deliver such statement within the one hundred twenty (120) day period does not relieve Tenant of its obligation to pay the charges described hereinlease year.

Real Estate Tax Increase. A. For the purpose of this Article the following terms shall have the following meanings: "lease year" shall mean the twelve-month period commencing on the term commencement date, and each twelve-month period thereafter; "real estate taxes" shall mean any and all amounts which become due and payable during a lease year in respect of taxes and assessments, special or otherwise, imposed upon the Building and the lot upon which it is located; "tax base" shall mean the real estate taxes due and payable for the fiscal year from July 1, 1997 to June 30, 1998. If Landlord's Tax Expense for real estate taxes applicable to any calendar lease year or partial calendar year during the Term is are greater than the Real Estate Taxes for tax base, the Base Calendar Year set forth in Section 1.1, Tenant shall pay to Landlord, as additional rentrent for such lease year a sum equal to 2.7% of the amount by which real estate taxes are greater than the tax base (hereinafter called "Tenant's tax payment"). In the event real estate taxes applicable to a lease year are greater than the tax base, its Proportionate Share set forth in Section 1.1 the Landlord may give the Tenant, within ninety (90) days after the end of such excesslease year, or within ninety (90) days after Landlord is notified of such tax, notice of Tenant's tax payment for such lease year; provided, however, that if this lease expires or is terminated during such lease year, Tenant's tax payment shall be limited to an amount equal to Tenant's tax payment for such lease year apportioned as of the date of such expiration or termination, and the Tenant shall make payment of Tenant's tax payment or of the same as apportioned within thirty (30) days after the giving of such notice, notwithstanding the fact that this lease has expired or has been terminated prior to the time of the giving of such notice. In the event the Landlord shall receive any refund as a result of a reduction in real estate taxes for any lease year after the first lease year and a Tenant's tax payment for such lease year has been made by the Tenant, the Landlord shall remit to the Tenant a sum equal to 2.7% of the refund received by the Landlord for such lease year, after deducting from such refund all expenses incurred by the Landlord in connection with obtaining the same, including attorneys' fees. At Landlord's option, any additional rent attributable to an increase in real estate taxes, or any decrease in rent due to a decrease in real estate taxes, shall be payable by Tenant, or credited to Tenant, as the same case may be adjusted be, on a monthly basis allocated evenly over the number of months in the event lease year, or balance of the lease year if such increase or decrease shall be effective during the middle of a remeasurement or change in size of the Premises or Building. Landlord may from time to time reasonably estimate the amount due from Tenant under this Section with respect to any calendar year or portion thereof and, commencing no sooner than the first (1st) anniversary of the Term Commencement Date, Tenant shall pay periodically as Landlord may determine, but not more frequently than monthly, the amount of Landlord's estimate as rent with the next due payment of monthly Base Rent. Not later than one hundred twenty (120) days after Landlord's Tax Expense for the applicable period is determined, Landlord shall render Tenant a statement (which shall include copies of real estate tax bills and invoices from tax abatement consultants, if any) showing for the applicable period Landlord's Tax Expense and any other amount due from Tenant or any credit due to Tenant hereunder. Payment by Tenant of any amount due shall be made as additional rent with Tenant's next due payment of monthly Base Rent (or, if the term of this Lease has ended, within ten (10) days of receipt of such statement), and Landlord shall credit the amount of any overpayment against subsequent obligations of Tenant under this clause (or refund such overpayment, if the term of this Lease has ended and Tenant has no further obligations to Landlord). Failure by Landlord to deliver such statement within the one hundred twenty (120) day period does not relieve Tenant of its obligation to pay the charges described hereinlease year.