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. Tenants under the Leases are currently paying Sellers certain amounts (referred to herein as “Tenant Reimbursements”) based on Sellers’ estimates for real estate taxes and assessments, common area maintenance, operating expenses and similar expenses of Sellers (collectively, “Seller Expenses”).
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"):
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. Purchaser, as the tenant under the Lease is currently paying Seller, as landlord under the Lease, 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 shall not be prorated at Closing but, rather, shall be reconciled pursuant to Section 11 of the Lease Termination.
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:
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 (x) 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 (including payments due from tenants for the month in which Closing occurs but which are not actually received by Seller prior to Closing), and (y) such reimbursements from tenants under the Leases are not more than thirty (30) days past due as of the Closing Date, regardless of whether Buyer actually collects such reimbursement or increased taxes and assessments from such tenants after Closing, 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 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 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, which reimbursements shall be prorated between Buyer and Seller).
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.)
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.
