Common use of TAX INCREASES DURING CONSTRUCTION PERIOD Clause in Contracts

TAX INCREASES DURING CONSTRUCTION PERIOD. Notwithstanding anything to the contrary in this agreement, in the event prior to the Commencement Date there is an interim or supplemental reassessment of the Premises based upon the added value of the Interior Improvements, then upon the Lease Commencement Date, Tenant shall pay to Landlord, within thirty (30) days prior to the due date reflected on the related tax statement received from the tax assessor for Alameda County, any interim or supplemental taxes (but no penalties or interest in connection therewith unless Tenant fails to pay said amounts due by the respective dates referenced above) that have been levied against the Premises and are attributable to the added value of the Interior Improvements during the period prior to the Lease Commencement Date and any such supplemental taxes that may be levied against the Premises thereafter.