Tenant Reimbursements. Any additional rents, percentage rents, common area maintenance charges and other rent items that have accrued, but have not yet been paid for the calendar year 1997 shall be owned exclusively by Seller and to the extent any of such amounts are paid by Tenants to Purchaser after the Closing Date, Purchaser shall promptly deliver such amounts to Seller. Purchaser acknowledges that based upon the operating expenses of the Property for calendar year 1997 and based upon projected increases in operating expenses for calendar year 1998, Seller has notified Tenants in writing that estimated additional rent payments (the "1998 Additional Rent Payments") are required to be paid by the Tenants at such time as base rent payments are due and payable during the balance of the 1998 calendar year. Purchaser agrees that at such time as the 1998 Additional Rent Payments are received from the Tenants after the Closing Date, Purchaser shall promptly deliver Seller's Pro rata Portion of such 1998 Additional Rent Payments to Seller. As used in this Section 8.8, Seller's Pro rata Portion shall be equal to the amount expressed in percentage terms determined by dividing (x) the number of days that Seller owned the Property in the 1998 calendar year by (y) 365. The provisions of this Section 8.8 shall survive the Closing.
Tenant Reimbursements. Notwithstanding the foregoing terms of this Article 6, Seller shall have no obligation to pay (and Buyer shall not receive a credit at Closing for) any real estate or personal property taxes or special assessments to the extent that Buyer is entitled after Closing to reimbursement of taxes and assessments, or the recovery of any increase in taxes and assessments, from the tenants under the Leases, regardless of whether Buyer actually collects such reimbursement or increased taxes and assessments from such tenants, it being understood and agreed by Buyer and Seller that (a) as between Buyer and Seller, Buyer shall be responsible for payment of all of such real estate or personal property taxes and assessments, and (b) the burden of collecting such reimbursements shall be solely on Buyer. Furthermore, Seller and Buyer acknowledge and agree that, notwithstanding any provision in any of the Leases to the contrary, the tax reimbursement payments to be paid by tenants of the Property during the Closing Tax Year are to be applied to pay the real estate taxes due and payable during the Closing Tax Year and, therefore, Buyer shall not receive a credit for any amounts due and payable by tenants of the Property prior to the Closing as real estate tax reimbursements.
Tenant Reimbursements. SECTION 5.01. In addition to the Fixed Rent and commencing on the Commencement Date, Tenant shall pay to Landlord as Additional Rent, Tenant's Share of the following taxes, insurance premiums and Common Area costs (hereinafter called "Reimbursements"):
(A) All real property taxes and special assessments (the "Real Estate Taxes") levied or assessed against the Building. Tenant shall not be required to pay any taxes imposed upon the net income of Landlord or franchise taxes of Landlord, or any estate, succession, inheritance or transfer taxes imposed upon Landlord. If, at any time during the Term, any lawful governing authority levies or assesses against Landlord any tax, fee, or excise, however described, as a direct substitution in whole or in part for, or in addition to, or as the substantial equivalent of any Real Estate Taxes, then Tenant shall pay as provided herein Tenant's Share of that tax, fee or excise. Tenant shall pay before delinquency all taxes, assessments, license fees, and other charges that are levied or assessed against Tenant's personal property located on the Demised Premises. On demand by Landlord, Tenant shall furnish Landlord with satisfactory evidence of these payments. If any taxes on Tenant's personal property are levied against Landlord or Landlord's property, or if the assessed value of the Building is increased by the inclusion of a value placed on Tenant's personal property or as a result of alterations, additions or improvements made to the Demised Premises by or for Tenant, Tenant, on demand, shall immediately pay to Landlord as Additional Rent the sum of the taxes levied against Landlord, or the proportion of the taxes resulting from such increase in Landlord's assessment caused thereby. Landlord shall be entitled to, in good faith using its reasonable determination, ascertain the value of the tax increase attributable to Tenant's personal property or alterations, additions or improvements.
(1.) If permitted by the appropriate taxing authority without the necessity of a subdivision, Tenant shall make application for the Demised Premises and the improvements erected thereon to be treated as a separate tax lot and, if successful, shall pay real property taxes and special assessments directly to the taxing authority. In this event, real property taxes and assessments will not be paid to Landlord as additional rent.
(2.) Nothing herein contained shall require Tenant to pay any Federal or State income taxes assessed against the ...
Tenant Reimbursements. Tenants under the Leases are currently paying Seller certain amounts (referred to herein as “Tenant Reimbursements”) based on Seller’s estimates for real estate taxes and assessments, common area maintenance, operating expenses and similar expenses (collectively, “Tenant Reimbursable Expenses”).
Tenant Reimbursements. All amounts paid by tenants under any Qualified Lease as reimbursements for operating expenses billed separately from the gross rent payable under such Qualified Leases, such as by way of example but not limitation, taxes, insurance and common area maintenance charges, but excluding capital expenses and construction or tenant finish expenses incurred by Borrower which are amortized and reimbursed by the tenant as part of the base or minimum rent payable under a Qualified Lease during the term of the Qualified Lease.
Tenant Reimbursements. The costs payable to Tenant's Architect, Tenant's Contractor and/or Tenant's Engineer shall be reimbursed by Landlord to Tenant to the extent available from the Tenant Improvement Allowance, following Tenant's submission of a Pay Request which shall include the following:
(a) A summary of individual xxxxxxxx aggregating the total for which a reimbursement is being requested;
(b) A copy of each individual invoice from the Tenant's Architect, Tenant's Contractor or Tenant's Engineer;
(c) Conditional lien releases in a form reasonably satisfactory to Landlord, executed by the Tenant's Architect, Tenant's Contractor of Tenant's Engineer, as applicable, for all current month individual invoices; and
(d) Unconditional lien releases in form reasonably satisfactory to Landlord, executed by Tenant's Architect, Tenant's Contractor or Tenant's Engineer, as applicable for all individual invoices included in the prior month's Pay Request. Tenant shall submit each Pay Request to Landlord on or before the twentieth (20th) calendar day of the month. If such day is a non-business day, the Pay Request is due on the next business day. Landlord will disburse the amount of such Pay Request from the Tenant Improvement Allowance (to the extent funds are available in the Tenant Improvement Allowance) to Tenant prior to the end of the following month and Tenant shall, except with respect to any invoice previously paid by Tenant, immediately pay the invoice for which the disbursement is made. At any time Landlord may elect to make direct payments to Tenant's Architect, Tenant's Contractor or Tenant's Engineer on Tenant's behalf.
Tenant Reimbursements. INTENTIONALLY DELETED
Tenant Reimbursements. Tenants under the Leases are currently paying Nine Penn Owner certain amounts (referred to herein as “Tenant Reimbursements”) based on Nine Penn Owner’s estimates for real estate taxes and assessments, common area maintenance, operating expenses and similar expenses of Nine Penn Owner (collectively, “Owner Expenses”).
Tenant Reimbursements. Seller and Purchaser acknowledge and agree that, pursuant to the Tenant Lease, the tenant under the Tenant Lease may be required to reimburse Seller for certain costs incurred by Seller in the completion of the Improvements being constructed by Seller for such tenant, including without limitation those items described in the next-to-last paragraph of Section 2 of the Work Letter attached as Exhibit "B-1" to the Tenant Lease, and the tenant under the Tenant Lease may owe to Seller other sums that have accrued prior to the Closing Date. All such sums shall remain the exclusive property of Seller and shall not be deemed to have been conveyed by Seller to Purchaser hereunder. Seller shall have the right to proceed against the tenant for collection of any such amounts, which proceedings may include instituting litigation for damages, but not eviction from or dispossession of the leased premises.
Tenant Reimbursements. Seller and Buyer acknowledge that real estate taxes are due without penalty on December 31 for the preceding October 1 - September 30 fiscal period and in that regard they agree that, notwithstanding any provision in any of the Leases to the contrary, the tax reimbursement payments to be paid by tenants of the Property during the Tax Year in which Closing occurs are to be applied to pay the real estate taxes assessed for such Tax Year and, therefore, Buyer shall not receive a credit at Closing for any amounts due and payable by tenants of the Property prior to the Closing as real estate tax reimbursements (other than real estate tax reimbursements actually received by Seller prior to Closing which are applicable to the month in which Closing occurs or to periods thereafter, which reimbursements shall be prorated between Buyer and Seller.)
