Common use of Tax on Rent Clause in Contracts

Tax on Rent. If federal, state or local law now or hereafter imposes any sales, use or other tax, assessment, levy or other charge (other than any income, inheritance or estate tax) directly or indirectly upon: (i) Landlord with respect to this Lease; (ii) Tenant’s use or occupancy of the Premises; (iii) any Base Rent or Additional Rent payable under this Lease; or (iv) this transaction but only if any tax is due at execution of this Lease, then Tenant will pay the amount thereof as Additional Rent to Landlord with the payment of such Base Rent or Additional Rent to which such amount relates and otherwise upon demand. Tenant acknowledges that ‘the applicable sales tax as of the date hereof is six and one-half (6.5%)percent.

Tax on Rent. If federal, state or local law now or hereafter imposes any sales, use or other tax, assessment, levy or other charge (other than any income, inheritance or estate tax) directly or indirectly upon: (i) Landlord with respect to this Lease; (iiII) Tenant’s use or occupancy of the Premises; (iii) any Base Rent or Additional Rent payable under this Lease; or (iv) this transaction but only if any tax is due at execution of this Lease, then Tenant will pay the amount thereof as Additional Rent to Landlord with the payment of such Base Rent or Additional Rent to which such amount relates and otherwise upon demand. Tenant acknowledges that ‘the applicable sales tax as of the date hereof is six and one-half seven (6.5%)percent7%) percent.