Real Estate Taxes and Assessments. Subject to Section 4(c) below, Tenant shall pay all Real Estate Taxes (as hereinafter defined) levied, assessed, accruing, or imposed from and after the Commencement Date, which shall become due and payable during the Term with respect to the Property. If any such Real Estate Taxes may, at the option of the taxpayer, be paid in installments, Tenant may exercise the option to pay the same in installments; provided Tenant pays all costs and charges related to such installment payment method. All Real Estate Taxes that shall be assessed with respect to a taxable year or period beginning on or before and ending after the Commencement Date or beginning on or before and ending after the Termination Date shall be apportioned pro rata between Landlord and Tenant on a per diem basis in accordance with the respective number of days in such taxable year or period during which this Lease is in effect. “Real Estate Taxes” shall mean the ad valorem real estate taxes levied against the Property (and the improvements and fixtures located thereon), betterment assessments, special benefit taxes and special assessments levied or imposed against the Property, taxes levied or assessed on gross rentals payable by Tenant to the extent charged, assessed or imposed upon tenants in general which are based upon the rents payable under this Lease, any impact fees levied or assessed, whether or not billed by the taxing authority as a special benefit tax or a special assessment, all taxes levied or assessed on the Property that are in addition to or in lieu of taxes that are currently so assessed, and penalties and interest related to Real Estate Taxes if the applicable Real Estate Tax bills have been forwarded to Tenant in a timely manner; provided, however, that Real Estate Taxes shall not include any Excluded Taxes. “Excluded Taxes” shall mean, without limitation, Landlord’s income taxes, gift taxes, excess profit taxes, excise taxes, franchise taxes, estate, succession, inheritance and realty transfer taxes resulting from the transfer of any direct or indirect interest in the Property by Landlord unless such taxes replace Real Estate Taxes in the future (except as expressly set forth in the last sentence of this Section 4(a)), and any interest or penalty charges resulting solely from Landlord’s failure to promptly deliver the Real Estate Tax bills to Tenant if the applicable taxing authority has forwarded the tax xxxx to Landlord rather than Tenant. All special benefit taxes and sp...
Real Estate Taxes and Assessments. Xxxxx is aware that all property is subject to the possibility of reassessment which may result in increased real estate taxes.
Real Estate Taxes and Assessments. For purposes of this Agreement, “Real Estate Taxes” means real estate or ad valorem real property taxes, assessments and personal property taxes with respect to the Property. Real Estate Taxes shall be prorated as of the Adjustment Time based upon the latest available tax xxxx and the number of days which have elapsed from the first day of the Current Tax Period to the Adjustment Time. The term “Current Tax Period” shall mean the fiscal period of the applicable taxing or charging authority during which the Closing occurs. If the latest available tax xxxx is not the xxxx for the Current Tax Period, then Real Estate Taxes shall be prorated based upon the latest tax information then available (including previous tax bills, current assessments and other information available from the taxing authorities) and Buyer and Seller shall re-prorate the Real Estate Taxes following the Closing as soon as the tax xxxx for the Current Tax Period becomes available, but in all events no later than the Final Proration Adjustment as provided in Section 6.9.8 below. Refunds of Real Estate Taxes for any period of time prior to the Current Tax Period, shall belong to Seller and Seller reserves the right to commence, contest and settle same. In the event such refunds are paid to Buyer, Buyer shall promptly pay such amount to Seller (which obligation shall survive the Closing and shall not be merged into the Deed and the other documents and instruments to be delivered at Closing). Seller shall have the right to 12411789.7 30 continue to contest and settle same, provided Seller shall not, to effectuate any reduction in Taxes, agree with the relevant authorities to increase taxes for any year from and after the year in which the Closing Date occurs and shall provide Buyer with all material correspondence, pleadings, submissions and other information relating thereto from time to time promptly upon Buyer’s request for same. Refunds of Real Estate Taxes for the Current Tax Period, net of the actual out of pocket costs of pursuing any tax contest or protest proceedings and collecting such refunds, shall be prorated in proportion to the respective shares of the Real Estate Taxes for the Current Tax Period borne by Seller and Buyer hereunder and the party receiving such refund shall promptly deliver to the other party its proportionate share of the refund for any Taxes during the Current Tax Period.
Real Estate Taxes and Assessments. Consolidated real estate taxes and any personal property taxes assessed for the tax year in which Closing occurs shall be prorated as of the Closing based on the latest tax bills available which adjustment shall be final and binding upon the parties after the date of Closing; all prior taxes shall be paid by Seller and all subsequent taxes shall be paid by Buyer. Seller shall pay all special assessments for public improvements constructed or under construction prior to the Closing.
Real Estate Taxes and Assessments. Seller represents to Buyer that to the best of its knowledge, all real estate taxes and installments of special assessments due and payable on or before the Closing Date have been or will be paid in full as of the Closing Date. It is understood between Seller and Buyer that all unpaid levied and pending special assessments are paid by the Seller and shall be the responsibility of the Seller.
Real Estate Taxes and Assessments. Tenant shall pay all real estate taxes and assessments, including any fees in lieu of taxes, both general and special, which may be levied or assessed by the taxing authorities against the land, buildings and all other improvements within or constituting the Property. Tenant shall pay all real estate taxes and assessments it has been duly assessed directly to the taxing authority.
Real Estate Taxes and Assessments. Seller represents to Buyer that to the best of Seller's knowledge all real estate taxes and installments of special assessments due and payable on or before the Closing Date have been, or will be, paid in full as of the Closing Date. It is understood between Seller and Buyer that all unpaid levied and pending special assessments are paid by the Lessee and shall be the responsibility of the Lessee under the Lease after the Closing Date. In the event Lessee does not pay any special assessments or real estate taxes that are the responsibility of the Lessee under the Lease, Seller and Buyer agree to each pay its prorata share of said assessments or taxes as of the Closing Date.
Real Estate Taxes and Assessments. Real estate taxes, general and special, assessments and other public charges against the Property for the tax year in which Closing occurs shall be prorated (using a 366-day year) as of the Closing Date based upon the most recently available property assessment. If the actual amount of such taxes or assessments is not known as of such date, either because bills for the period in question have not been issued or because such bills cover real property in addition to the Property, the proration at the Closing will be based on the most current and accurate billing information available. Should such proration not be based on the actual amount of the ad valorem taxes for the period in question and should such proration prove to be inaccurate upon receipt of the actual bills for the Property, then, to the extent such incorrect amount exceeds Five Hundred and No/l00 Dollars ($500.00), either Seller or Purchaser may demand at any time after the Closing Date a payment from the other party correcting such malapportionment. The provisions of this paragraph shall survive the Closing for one year.
Real Estate Taxes and Assessments. Contributor has not filed, and has not retained anyone to file, notices of protests against, or to commence action to review, real property tax assessments against the Property. The Land is assessed as a separate tax lot or tax parcel, independent of any other parcels or assets not being conveyed hereunder, and has been validly and finally subdivided from all other property for conveyance purposes. Contributor has no knowledge and Contributor has not received notice of any assessments by a public body, whether municipal, county or state, imposed, contemplated or confirmed and ratified against any of the Property for public or private improvements which are now or hereafter payable.
Real Estate Taxes and Assessments. Real estate taxes and assessments for each Property due and payable for the calendar year in which Closing occurs shall be prorated between Respective Seller and Buyer as of the Closing Date, based upon the most recently available real estate tax information, and to the extent applicable in the jurisdiction where a Property is located, on a cash basis. Each Respective Seller hereby reserves the right to contest any assessment of the Respective Seller’s Property or any portion thereof and to attempt to obtain a refund for any taxes previously paid, and Respective Seller shall retain all rights with respect to any refund of taxes applicable to Respective Seller’s Property that is applicable to any period prior to the Closing Date (provided that to the extent such taxes were paid by or reimbursed by Tenants to a Respective Seller, then such Respective Seller shall turn over such refund to the applicable Tenants). Buyer acknowledges that it has no interest in any proceedings or refunds applicable to any tax year prior to the year in which the Closing occurs, subject to Respective Seller’s return of such refunds to Tenants as required above. The provisions of this Paragraph shall survive the Closing.
