TAX INCREASE PROTECTION. During the first seven (7) years of the initial Lease Term, Tenant shall not be obligated to pay any portion of the Tax Increase. Notwithstanding the foregoing, Landlord shall be permitted to pass through to Tenant any Tax Increase resulting from a change in ownership of the Project arising out of the sale, financing or merger of all or substantially all of the assets or stock of and/or partnership interests and/or limited liability company interests owned by Xxxxxx Realty Corporation and/or its affiliates.
Appears in 5 contracts
Samples: Office Lease (Peregrine Systems Inc), Office Lease (Peregrine Systems Inc), Office Lease (Peregrine Systems Inc)
