Rent Adjustment Taxes Sample Clauses

Rent Adjustment Taxes. Tenant shall pay all Taxes applicable to the Lease Term. Such amounts shall be paid by Tenant, as additional rent, directly to the taxing authority on or before the date such Taxes are due, and prior to the imposition by the taxing authority of any late charge or penalty. Each tax year, Tenant shall promptly provide evidence to Landlord that Taxes have been timely paid in full. Tenant further acknowledges that Landlord must pay the Taxes for an entire tax year (i.e., July 1 - June 30) in advance. Therefore, within thirty (30) days after the Rent Commencement Date, Tenant shall pay to Landlord a sum equal to the pre-paid Taxes paid by Landlord for the tax year in which the Rent Commencement Date occurs (the “Commencement Tax Year”), pro-rated from the Rent Commencement Date to the end of the Commencement Tax Year. Following termination of the Lease Term by passage of time or for any reason other than Tenant’s default of this Lease (the “Termination Date”), Tenant shall be reimbursed by Landlord to the extent of Taxes which it has pre-paid as of such Termination Date for the period beyond such Termination Date. By way of example of Tenant’s obligations hereunder, if the Rent Commencement Date occurs on April 24, 1998, then within thirty (30) days thereafter, Tenant shall pay to Landlord the Taxes attributable to the period April 24, 1998 - June 30, 1998. On July 1, 1998, Tenant shall receive a tax xxxx for the period July 1, 1998 - June 30, 1999, which shall be payable by Tenant prior to the imposition of any late charge or penalty. On July 1 of each lease year thereafter, Tenant shall receive a tax xxxx for each succeeding tax year which shall be payable by Tenant in accordance with the terms set forth above.
Sample 1
AutoNDA by SimpleDocs
Rent Adjustment Taxes. In the event that the Taxes levied or assessed against the Real Property for any tax year while this Lease is in effect shall be greater than the Taxes paid in the Base Tax Year, Tenant shall pay to Landlord, as additional rent (subject to further adjustments in the event of other increases or decreases in Taxes), an amount equal to Tenant's Portion of such excess. Until such time as the actual Taxes for any tax year are determined, Landlord shall have the right to reasonably estimate such Taxes, and Tenant shall pay, on the first day of each calendar month, such amounts as are equal to one-twelfth of Landlord's estimate of Tenant's Portion of such tax increase for such year. At any time during a tax year, Landlord may revise its estimate of Tenant's Portion of such tax change and adjust Tenant's equal monthly installments payable thereafter during the tax year to reflect such revised estimate. Within sixty (60) days after Landlord's receipt of tax bills for each tax year, or such reasonable (in Landlord's determination) time thereafter, Landlord will certify to Tenant the amount of Taxes for the tax year in question and the amount of Tenant's Portion thereof. Tenant's Portion of such increase which is paid or payable for each tax year shall be adjusted between Landlord and Tenant, both Landlord and Tenant hereby agreeing that Tenant shall pay Landlord or Landlord shall credit to Tenant's account (or, if such adjustment is at the end of the Term, pay Tenant), as the case may be, within thirty (30) days of the of aforesaid certification to Tenant, such amount necessary to effect such adjustment. The failure of Landlord to provide such certification within the time prescribed above shall not relieve Tenant of its obligations generally or for the specific tax year in which any such failure occurs. As of the date of this Lease, the tax year is a fiscal year commencing July 1. If the appropriate authorities shall hereafter change the tax year to a calendar year, or to a fiscal year commencing on a date other than July 1, appropriate adjustments shall be made with respect to any additional rent or credits, due hereunder.
Sample 1
Rent Adjustment Taxes. Commencing on the Lease Commencement Date, and during each Operating Year, Tenant shall pay to Landlord, as Additional Rent, with and at the same time as the payments of Basic Annual Rent are due, Tenant’s Share of the Landlord’s then-current estimate of Taxes, revised not more frequently than annually, prorated in equal amounts over the balance of the then-current Operating Year. Landlord has the sole and exclusive right to contest any Taxes assessed against the Leased Premises (including the Building); provided, however, that in the event Landlord does not elect to contest the Taxes assessed during any Operating Year, then Landlord shall provide written notice thereof to Tenant prior to the deadline to commence any such contest, in which event Tenant may require Landlord to contest such Taxes on its behalf provided that no Event of Default by Tenant has occurred and is continuing. If Landlord contests the Taxes, either by its election or Tenant’s direction, then Landlord may (i) select such third party providers as Landlord deems prudent to assist in such proceedings, on either a fee-paid and/or contingent fee basis; and (ii) at Landlord’s discretion, include all reasonable expenses incurred by Landlord (including attorneys’ fees and court costs) in appealing any assessment as an item of Taxes for the purpose of computing Additional Rent due under this Lease and/or satisfy all or a portion of such expenses from the proceeds of any tax refunds received as a result of a successful assessment contest. Tenant shall have the right to consult with any such third party providers selected by Landlord in connection with the contest of Taxes hereunder. Tenant acknowledges that it bears the risk that a tax assessment appeal could result in a decision which increases the assessed value of the Leased Premises.
Sample 1
Rent Adjustment Taxes 
Sample 1Sample 2Sample 3See All (5)

Related to Rent Adjustment Taxes

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, (“Code”)), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers (“Effective Rate”) is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • Tax Expenses Tenant shall pay to Landlord Tenant's Share of all real property taxes applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant's Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within twenty (20) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. The term "Tax Expenses" shall mean and include, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any city, county, state or federal government, or any school, agricultural, lighting, drainage or other improvement district thereof) as against any legal or equitable interest of Landlord in the Premises or any other portion of the Project or any other tax, fee, or excise, however described, including, but not limited to, any value added tax, or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of real property taxes, or any additional tax the nature of which was previously included within the definition of real property taxes. The term "Tax Expenses" shall not include any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, or a penalty fee imposed as a result of Landlord's failure to pay Tax Expenses when due.

  • Rent Tax If applicable in the jurisdiction where the Leased Premises are situated, Lessee shall pay and be liable for all rental, sales and use taxes or other similar taxes, if any, levied or imposed by any city, state, county or other governmental body having authority, such payments to be in addition to all other payments required to be paid to Lessor by Lessee under the terms of this Lease. Any such payment must be paid concurrently with the payment of the rent, additional rent, operating expenses or other charge upon which the tax is based as set forth above.

  • Current Taxes Adequate provisions have been made for taxes payable for the current period for which tax returns are not yet required to be filed and there are no agreements, waivers, or other arrangements providing for an extension of time with respect to the filing of any tax return by, or payment of, any tax, governmental charge or deficiency by the Company. The Vendors are not aware of any contingent tax liabilities or any grounds which would prompt a reassessment including aggressive treatment of income and expenses in filing earlier tax returns; The Company- Applicable Laws and Legal Matters

  • Tax Year The tax year of the Partnership will be the calendar year.

  • Direct Expenses 1. Fees and expenses of its directors (except the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Operating Expenses and Taxes Lessee and Lessor acknowledge and agree that commencing with the Second Extended Lease Term and continuing with any Extended Lease Term validly exercised thereafter, (x) the Lease provisions relating to payment of Taxes and Operating Expenses shall be converted from a Base Year computation to a straight net basis computation, and (y) Lessee shall be assuming the obligation of maintenance and repair described in Paragraph 11 below. In connection with the conversion from a Base Year to a net lease and Lessee’s assumption of the maintenance and repair obligations described in Paragraph 11 below, Lessee and Lessor wish to modify the terms and provisions of the Lease relating to Operating Expenses to account for such modifications and Lessee’s assumption of such obligations. In connection with the foregoing, Lessee and Lessor hereby acknowledge and agree that commencing on January 1, 2013, (i) the MOU shall have no further force or effect with respect to all periods from and after January 1, 2013 (the MOU shall remain in effect with respect to periods on or before December 31, 2012, except as modified by Xxxxxxxxxx 00 xxx 00 xxxxx), (xx) notwithstanding anything to the contrary contained in the Lease, Lessee’s obligations with respect to the payment of Lessee’s Percentage of Taxes and Lessee’s Percentage of Operating Expenses shall be computed without reference to a Base Year, with the effect that Lessee’s obligation for payment of Taxes during any Tax Year shall be payment of Lessee’s Percentage of the Taxes incurred with respect to such Tax Year and Lessee’s obligation for payment of Operating Expenses during any Lease Year for Operating Expenses shall be payment of Lessee’s Percentage of the Operating Expenses incurred with respect to such Lease Year for Operating Expenses, and (iii) Article 5 of the Original Lease shall be deleted in its entirety with respect to all periods from and after January 1, 2013 and replaced with the provisions of this Paragraph 10.

Time is Money Join Law Insider Premium to draft better contracts faster.