TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.), Lease Agreement (Impossible Kicks Holding Company, Inc.)
TENANT'S TAX OBLIGATION. Tenant shall pay agrees to Landlord its pay, as part of the Shared Expenses, Tenant's proportionate share of all taxes and assessments which have been or may be levied or assessed by any lawful authority authority, for any calendar year during the Lease Term, against the land and buildings presently and/or at any time during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements Lease comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s 's proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises Square Footage and the denominator of which shall be the total number Total Square Footage. Any tax and/or assessment of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present kind or future enactment of nature presently or hereafter imposed by the State of Florida or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature thereover, upon, against or with respect to the rents rentals payable by tenants or occupants in the regional retail development Shopping Center to Landlord or on the income of Landlord derived from the regional retail development Shopping Center or with respect to Landlord’s (, or the individuals’ individuals or entities’ which constitute the partners of the partnership which is entities comprising Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings presently and/or at any time during the Lease Term comprising the regional retail developmentShopping Center, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; , shall be deemed to constitute a tax and/or (b) imposes assessment against such land and such buildings for the purpose of this Section and Tenant shall be obligated to pay its proportionate share thereof as provided herein. In addition, should any governmental authority having jurisdiction thereover impose a direct or indirect tax or surcharge of any kind or nature, nature upon, against or with respect to the parking areas or the number of parking spaces in the regional retail developmentShopping Center, then in either such tax or both surcharge shall likewise be deemed to constitute a tax and/or assessment against such land and such buildings for the purpose of such events, this Section and Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” Tenant shall not be deemed obligated to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereonpay Landlord's income taxes. Tenant’s 's proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before installments, as part of the first day Shared Expense Installment Payment portion of each calendar monththe Required Installment Payment; provided, that in advancethe event Landlord is required under any mortgage covering the Shopping Center to escrow real estate taxes, in an Landlord may, but shall not be obligated to, use the amount estimated by Landlord; provided that Landlord shall have required to be so escrowed as a basis for its estimate of the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord due from time to timeTenant hereunder. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereofLease Term, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s 's proportionate share of the taxes and assessments for such year. In the event no tax bill xxxx is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease Term shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx Tenant and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by receipt of notice from Landlord; and if . If the total amount actually paid by Tenant hereunder for any such calendar or fiscal year shall exceed exceeds such actual amount due from Tenant for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill xxxx or assessment bill xxxx submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill xxxx relates. Prior to or at on the commencement of the term of this Lease Commencement Date and from time to time thereafter throughout the term hereofLease Term, Landlord shall notify Tenant in writing of Landlord’s 's estimate of Xxxxxx’s Tenant's monthly installments due hereunder. Landlord and Tenant's obligations under this Section shall survive the expiration or earlier termination of this Lease.
Appears in 1 contract
TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunder.. S4 Impossible Kicks/Dolphin Mall/03/21/23 COMMON AREA CHARGE
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the he estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula o th fo mula being utilized by Landlord from time to time. t m Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunder.. S4 COMMON AREA CHARGE
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, or with respect to each fiscal year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping CenterDevelopment, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional entertainment and retail developmentcenter, irrespective of whether such taxes are assessed against real or personal property. Tenant’s 's proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises leased premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping CenterDevelopment. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional entertainment and retail development center to Landlord derived from the regional entertainment and retail development center or with respect to the Landlord’s 's (or the individuals’ ' or entities’ ' which constitute the partners of the partnership which is the Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional entertainment and retail developmentcenter, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s 's revenues from the regional entertainment and retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition theretocenter; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional entertainment and retail developmentcenter, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional "entertainment and retail development” center" shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional entertainment and retail development center are located with all improvements situated thereon. Tenant’s 's proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s 's proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the xxx total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx Tenant and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development Development or any portion thereof or interest therein, or in the event of Landlord’s 's negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described hereinDevelopment, Tenant shall pay its proportionate share of Landlord’s 's costs, expenses and attorneys’ ' fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s 's liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times xxxes be sufficient evidence sufficienx xxidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease Lexxx and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s 's estimate of Xxxxxx’s Tenant's monthly installments due hereunder.
Appears in 1 contract
Samples: Lease (Hart Industries Inc)
TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share The portion of such taxes and assessments allocated to the common areas of the Shopping Center, and the portion of such taxes allocated to the "net-building area (Gross building area less the sum of gross leasable floor area and common areas) of the Shopping Center, shall be deducted from the total of such taxes and assessments and charged to Tenant in accordance with the provisions contained in Section 8.03 of this Lease. Tenant's proportionate share of the remaining taxes and assessments (i.e.. those not charged under Section 8.03) shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises leased premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to the Landlord’s 's (or the individuals’ ' or entities’ ' which constitute the partners of the partnership which is the Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s 's revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition theretodevelopment; and/or (b1,) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “"regional retail development” " shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. To the extent that real estate taxes and assessments are the obligation of Tenant pursuant to Section 8.03 hereof, the same shall not be includable in Tenant’s 's proportionate share pursuant to this Section. Tenant's proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s 's proportionate share of the taxes and assessments for such yearear. In the event no tax bill is available, Landlord will compute wilx xompute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx Tenant and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; , and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due ~ue from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development Shopping Center or any portion thereof or interest therein, or in the event of Landlord’s 's negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described hereinShopping Center, Tenant shall pay its proportionate share of Landlord’s 's costs, expenses and attorneys’ ' fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s 's liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. effect A copy of a tax bill or assessment bill submitted by submittex xx Landlord to Tenant Tenxxx shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement xxxxencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s 's estimate of Xxxxxx’s Tenant's monthly installments due hereunder.
Appears in 1 contract
Samples: Lease Agreement (Play Co Toys & Entertainment Corp)
TENANT'S TAX OBLIGATION. (a) Tenant shall pay to Landlord Landlord, as additional rent, its proportionate share of all taxes and existing and future assessments which may be levied or assessed by any lawful authority during or for each calendar year of the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, Lease against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, Center as well as any such existing assessments covering Somerset Collection North irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes property and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fractionincluding, without limitation, any successor tax to, or future tax similar to, the numerator so-called “Michigan Business Tax” of which shall be Landlord (hereinafter referred to as the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center“Taxes”). In the event that any present or future enactment of the State Michigan or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development Shopping Center to Landlord derived from the regional retail development Shopping Center or with respect to the Landlord’s (’s, or the individuals’ or entities’ which constitute form the partners of the partnership which is LandlordLandlord herein, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail developmentShopping Center, and/or impose a tax or surcharge of any kind or nature upon, against or with respect to the parking areas or the number of parking spaces in the Shopping Center, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge then for the purpose of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such eventsthis Section 3.04, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Sectionhereof, the term “regional retail developmentShopping Center” shall shall, in any event, be deemed to include the any land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development Shopping Center are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments Taxes shall be deemed levied or assessed for with respect to the calendar year in which the same are first due and payable without regard to the calendar year or during other accounting period shown on the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to used by the formula being utilized by Landlord from time to timelocal taxing authority. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes Taxes shall be equal to the product obtained by multiplying the Taxes by a fraction, the numerator of which shall be the number of square feet of floor area in the Premises and assessments for such year. In the event no tax bill is available, Landlord will compute the amount denominator of such tax. If which shall be the total amount paid by Tenant under this Section for any calendar or fiscal year during number of square feet of gross leased and occupied floor area in the term of this Lease shall be less than the actual amount due from Tenant for such yearShopping Center; provided, as shown on such statementhowever, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or that with respect to the regional retail development or any portion thereof or interest therein, or building(s) in the event of Shopping Center (and any land appurtenant thereto) which are separately assessed, at Landlord’s negotiation with respect to assessed valuation for the regional retail developmentoption, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described hereinrelating thereto shall not be deemed “Taxes” hereunder and, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminatessuch event, the provisions floor area of this Section such separately assessed building(s) shall apply, and Tenant’s liability for its proportionate share not be included in the denominator of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunderfraction.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
TENANT'S TAX OBLIGATION. Tenant shall pay to Landlord its proportionate share of all taxes and assessments which may be levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunder.. Pursuant to the Gross Rent provision of Section 2.01 of this Data Sheet, the foregoing is included in Gross Rent. S4 COMMON AREA CHARGE
Appears in 1 contract
TENANT'S TAX OBLIGATION. Tenant shall agrees to pay to Landlord Landlord, as additional rental hereunder, its proportionate prorata share of all taxes which first becomes due in a calendar year, and assessments which have been or may be levied or assessed by any lawful authority for any calendar year during the term hereof, against the Centre presently and/or at any time during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State Lease or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature presently or hereafter imposed by the State of Michigan or any political subdivision thereof, or any governmental authority having jurisdiction thereover, upon, against or with respect to the rents rentals payable by tenants or occupants in the regional retail development Centre to Landlord or on the income of Landlord derived from the regional retail development Centre or with respect to the Landlord’s ('s, or the individuals’ individuals or entities’ entities which constitute form the partners of the partnership which is LandlordLandlord herein, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising Centre presently and/or at any time during the regional retail developmentterm of this Lease, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping CenterCentre, or in addition thereto; and/or (b) imposes , and Tenant shall be obligated to pay its prorata share thereof as provided herein. In addition, should any governmental authority having jurisdiction thereover impose a direct or indirect tax or surcharge of any kind or nature, nature upon, against or with respect to the parking areas or the number of parking spaces in the regional retail developmentCentre, then in either such tax or both surcharge shall likewise be deemed to constitute a tax and/or assessment against the Centre for the purpose of such events, this Section and Tenant shall be obligated to pay its proportionate prorata share thereof as provided herein. For purposes The above notwithstanding, nothing contained herein shall be interpreted to require Tenant to pay nor allow Landlord to charge for any income taxes, including the Michigan Single Business Tax, which are properly Landlord's as a result of this SectionLandlord's operation of the Centre and/or any profits derived therefrom. In determining the amount of taxes for any calendar year, the term “regional retail development” amount of special assessments to be included shall be deemed limited to include the land upon amount of the installment (plus any interest payable thereon) of such special assessment which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving would have been required to have been paid during such year if Landlord had elected to have such special assessment paid over the regional retail development are located with all improvements situated thereonmaximum period of time permitted by law. Tenant’s proportionate 's prorata share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that . In the event Landlord is required, under any mortgage covering the Centre, to escrow real estate taxes, Landlord may, but shall have not be obligated to, use the right amount required to initially determine monthly estimates and to revise be so escrowed as a basis for its estimate of the estimates from time to time, and shall have the right to apply such monthly installments to due from Tenant hereunder, providing such amount is based in part upon the last ascertainable tax bills according to the formula being utilized by Landlord from time to timexxxx. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a copy of such tax xxxx, together with a written statement of the actual amount of Tenant’s proportionate 's prorata share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx Tenant and the actual amount due, such deficiency to be paid within ten thirty (1030) days after written demand therefor by Landlord; and Landlord and, if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In hereunder or, in the event Landlord receives a credit following last year of the lease termination dateLease Term, Tenant waives any right it may have such excess shall, within sixty (60) days, be refunded to its proportionate share of such tax creditTenant. All amounts due hereunder shall be payable to Landlord at the place where the fixed minimum rent annual rental is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s 's liability for its proportionate prorata share of any taxes and assessments for such years shall be subject to a pro rata prorata adjustment based on the number of days of said calendar or fiscal years year during which the term of this Lease is in effect. A copy of a tax bill xxxx or assessment bill xxxx submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill xxxx relates. Prior to or at the commencement of the term of this Lease and from time to time annually thereafter throughout the term Term hereof, Landlord shall notify Tenant in writing of Landlord’s 's estimate of Xxxxxx’s Tenant's monthly installments due hereunder. Landlord's and Tenant's obligations under this Section shall survive the expiration of the term of this Lease. Notwithstanding anything in this Section 3.01. to the contrary, all reasonable costs and expenses incurred by Landlord (excluding delinquency costs and interest) during negotiations for or contests of the amount of the Taxes shall be included within the term "Taxes". In the event a refund is obtained, Landlord shall credit a portion thereof to the next installment of taxes and assessments due from Tenant in proportion to the share of such Taxes originally paid by Tenant from which the refund was derived or in the last year of the Lease Term, such amount shall be paid to Tenant. In addition to the foregoing, Tenant at all times shall be responsible for and shall pay, before delinquency, all taxes levied, assessed or unpaid on any leasehold interest, any right of occupancy, any investment of Tenant in the Leased Premises, or any personal property of any kind owned, installed or used by Tenant, including leasehold improvements installed or constructed by Tenant or on Tenant's right to occupy the Leased Premises. Notwithstanding anything to the contrary contained herein, Tenant shall not be obligated to pay any portion of the fees or costs assessed as a condition for the right or privilege of the development of the Centre, including, but not limited to, impact fees, building permit fees or other governmental fees, assessments or charges which are incurred or levied as the result of the development or expansion of the Centre.
Appears in 1 contract
Samples: Lease (Metavante Corp)
TENANT'S TAX OBLIGATION. Tenant A. The Tenant's tax obligation shall pay be paid from the CAM charge.
B. In the event that any governmental authority having jurisdiction over the Building shall impose a tax and/or assessment (other than an income or franchise tax) either upon or against the rentals payable by Tenants in the Building to Landlord its or upon or against the business of renting land or buildings, either by way of substitution for real estate taxes as defined above, or in addition thereto, said tax or assessment shall be paid by Tenant as Additional Rent, with the Tenant's proportionate share of such Additional Rent to be determined in the same manner as his proportional share of real estate taxes.
C. Tenant shall be responsible for and shall pay when due any and all taxes taxes, assessments, license fees and assessments which may be levied public charges, of whatever kind or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, against the land, buildings and improvements comprising the Shopping Centernature, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail developmentgeneral or special assessments, irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such events, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Section, the term “regional retail development” shall be deemed to include the land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section for any calendar or fiscal year during the term of this Lease against any leasehold interest, or against Tenant's business in the Leased Premises, or personal property of any kind owned by, or placed in, upon or about the Leased Premises by Tenant.
D. In the event that, after the commencement of this Lease, any governmental authority imposes a new or different tax, charge or levy which is billed or charged to the Building and/or the Landlord, and such tax, charge or levy is attributable to, derived from or based upon Tenant's leasehold interest, Tenant's occupancy of or doing business in the Leased Premises, Tenant's sales or receipts, or personal property of any kind owned by, or placed in, upon or about the Leased Premises by Tenant; such tax, charge or levy shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such yearas Additional Rent, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate with Tenant's proportional share of such tax credit. All amounts due hereunder shall Additional Rent to be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or determined in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate same manner as his proportional share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunderreal estate taxes.
Appears in 1 contract
Samples: Commercial Lease (Integrated Management Information, Inc.)
TENANT'S TAX OBLIGATION. (a) Commencing with the Rental Commencement Date, and continuing for the balance of the Term, Tenant shall pay to Landlord its proportionate share as Additional Rent that portion of all taxes and assessments which may be "Taxes" (as hereinafter defined) levied or assessed by any lawful authority during the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term Term following the Rental Commencement Date, which the number of this Lease, against square feet of Floor Area in the land, Premises bears to the total number of square feet of constructed gross leased and occupied Floor Area of all buildings and improvements comprising in the Shopping Center, including but not limited plus an amount equal to fifteen percent (15%) of the total of such Taxes. As used herein, the term "Taxes" shall mean any and all taxes, surcharges, assessments, levies, fees and other governmental charges and impositions of every kind or nature, regular or special, direct or indirect, presently foreseen or unforeseen or known or unknown, levied or assessed by municipal, county, state, federal or other governmental taxing or assessing authority (i) upon, against or with respect to the real property taxes estate upon which the Development, or any part of it, is located and of all to any improvements located in the Shopping Center or the Development, and (ii) any other taxes which Landlord becomes obligated to pay with respect to the regional retail developmentDevelopment, irrespective of whether such taxes the same are assessed against as real or personal property. Taxes shall not include Landlord's income or franchise taxes. To the extent that any such Taxes are the obligation of Tenant pursuant to Section 8.03 or Section 22.01, the same shall not be included in Tenant’s 's proportionate share pursuant to this Section 2.04. Prior to the proration of such taxes and assessments Taxes as provided in this Section 2.04, there shall be equal deducted therefrom all amounts received from the Department Stores and/or any other tenant within the Development not included in the definition of Shopping Center towards such Taxes. The Taxes payable by Tenant pursuant to this Section 2.04(a) which are levied or assessed for the product obtained by multiplying such taxes fiscal tax year in which the Rental Commencement Date occurs and assessments by a fraction, for the numerator fiscal tax year in which the Term of which this Lease ends shall be prorated on a daily basis.
(b) Should the number of square feet of floor area in state where the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center. In the event that any present or future enactment of the State Development is located or any political subdivision thereof or any governmental authority having jurisdiction thereover either: governmental, taxing or assessing authority, directly or indirectly by way of substitution for or in lieu of or in addition to or in any other way directly or indirectly used or intended to provide revenues to fund all or any part of revenues theretofore provided or services theretofore funded by all or any part of the Taxes otherwise required to be paid in whole or in part by Tenant pursuant to this Section 2.04 or Section 8.03 or Section 22.01, whether presently foreseen or unforeseen or known or unknown, either (ai) imposes impose a tax of any kind or nature upon, against, in connection with or with respect to the rentals or other charges payable by or to Landlord by the Tenant or other tenants in or occupants of the Shopping Center and/or the Development or on the income of Landlord derived from the Shopping Center and/or the Development or on the revenues of the Shopping Center and/or the Development or on Landlord's (or the individuals or entities which constitute the partners of Landlord, if Landlord is a partnership) ownership of the Shopping Center and/or the Development or any portion thereof or interest therein, or any direct or indirect tax whatsoever other than the Taxes otherwise required to be paid in whole or in part by Tenant pursuant to this Section 2.04, Section 8.03 or Section 22.01, and/or assessment (ii) impose a tax of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development to Landlord derived from the regional retail development or with respect to Landlord’s (or the individuals’ or entities’ which constitute the partners of the partnership which is Landlord, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail development, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge of any kind or nature, upon, against or with respect to the parking areas facilities or the number of parking spaces in the regional retail developmentthe, then in either or both Development, such tax shall be deemed to constitute a part of such events, Taxes payable by Tenant under this Lease and Tenant shall be obligated pay to pay Landlord its proportionate share thereof (or all thereof, with respect to taxes relating to items (i) through (iii) of Section 22.01) as determined and billed by Landlord and/or (iii) reappraise, or determine that the method utilized by Landlord in determining property Taxes to be incorrect, or redetermine the method upon which property taxes are imposed against the Shopping Center and/or the Development from time to time by virtue of a change in the ownership of Landlord's interest or otherwise by operation of law and/or (iv) impose a charge for assessments, taxes, fees, levies and charges imposed by governmental agencies for services such as fire protection, sidewalk and road maintenance, refuse removal and other public services generally provided herein. For without charge to property owners or occupants prior to the date of this Lease, the Same shall be deemed as a part of Taxes payable by Tenant hereunder for the purposes of this SectionLease. For the purposes of this Section 2.04, the term “regional retail development” "Shopping Center" shall be deemed to include the any land upon which any parking facilities, temporary or permanent off-site offsite utility systems and any wooded area, lake, shoreline thereof or island park parking serving the regional retail development Shopping Center and/or the Development are located with all improvements situated thereon. located.
(c) Tenant’s 's proportionate share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereofTaxes, as reasonably determined by Landlord, shall be paid to Landlord as Additional Rent, in monthly installments on or before the first day of each calendar monthmonth (or such longer period as Landlord may determine), in advance, in an amount estimated by LandlordLandlord and billed by Landlord to Tenant; provided that Landlord shall have the right initially to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable pertaining to any calendar or fiscal year during the term hereofTaxes payable by Tenant, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s 's proportionate share of the taxes and assessments Taxes for such year. In the event no any applicable tax bill xxxx is availablenot available at the time Landlord bills Tenant for Taxes, Landlord will compute may estimate the amount of such such, tax. If the total amount paid by Tenant under this Section 2.04 for any calendar calendar, fiscal or fiscal lease year during the term of this Lease Term following the Rental Commencement Date shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx Tenant and the actual amount due, such deficiency to be paid due within ten thirty (1030) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar calendar, fiscal or fiscal lease year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments monthly payments due from Tenant to Landlord hereunderunder this Lease. In If at the event Landlord receives a credit following end of the final lease termination dateyear the total amount paid by Tenant hereunder for such lease year shall exceed such actual amount due from Tenant for such year, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder excess shall be payable refunded to Landlord Tenant after 'Tenant has vacated the Premises in good condition at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant shall pay its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminates, the provisions of this Section shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term conclusion of this Lease is and any other sums due Landlord from Tenant under this Lease have been paid in effectfull or deducted therefrom. A copy of a tax bill xxxx or statement or assessment bill notice submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments Taxes' assessed or levied against the property to which such bill xxxx relates. Prior to or at Tenant's obligations under this Section 2.04 shall survive the commencement expiration of the term Term or earlier termination of this Lease and from time Lease.
(d) Landlord reserves the right to time thereafter throughout contest any Taxes levied or assessed during the term hereofTerm upon, against or with respect to the Shopping Center and/or the Development or any portion thereof or interest therein. Tenant shall pay to Landlord that proportion of all costs incurred by Landlord in connection therewith based on the formula specified in Section 2.04(a). Notwithstanding any such contest, or any related negotiation or appeal, Tenant shall notify Tenant pay, as provided for in writing this Section 2.04, its proportionate share of Taxes. If, as a result of any such contest, negotiation or appeal, Taxes shall be increased, Tenant's proportionate share of Taxes shall be computed on the basis of the amount of Taxes finally determined to be payable by Landlord, including any of Landlord’s estimate 's reasonable costs in any such contest. If, as a result of Xxxxxx’s monthly installments due hereunderany such contest, negotiation or appeal, Taxes shall ,be decreased, Landlord's statement to Tenant of Taxes following such decrease shall include an adjustment for any prior tax years affected by such decrease reflecting the amount of such decrease in Taxes. Tenant's proportionate share of any such adjustment, less all costs and expenses, including, but not limited to, attorney fees, expenses of accountants, consultants and appraisers, and administrative expenses incurred by Landlord in connection with such contest, negotiation or appeal and not previously paid by Tenant, shall be treated as a credit against Taxes payable by Tenant following such decrease.
Appears in 1 contract
Samples: Lease (Melt Inc)
TENANT'S TAX OBLIGATION. (a) Tenant shall pay to Landlord Landlord, as additional rent, its proportionate share of all taxes and existing and future assessments which may be levied or assessed by any lawful authority during or for each calendar year of the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, Lease against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, Center as well as any such existing assessments covering The Mall at Millenia irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal property (hereinafter referred to as the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center“Taxes”). In the event that any present or future enactment of the State Florida or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development Shopping Center to Landlord derived from the regional retail development Shopping Center or with respect to the Landlord’s (’s, or the individuals’ or entities’ which constitute form the partners of the partnership which is LandlordLandlord herein, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail developmentShopping Center, and/or impose a tax or surcharge of any kind or nature upon, against or with respect to the parking areas or the number of parking spaces in the Shopping Center, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge then for the purpose of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such eventsthis Section 3.04, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Sectionhereof, the term “regional retail developmentShopping Center” shall shall, in any event, be deemed to include the any land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development Shopping Center are located with all improvements situated thereon. Tenant’s proportionate share of all of the aforesaid taxes and assessments Taxes shall be deemed levied or assessed for with respect to the calendar year in which the same are first due and payable without regard to the calendar year or during other accounting period shown on the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to used by the formula being utilized by Landlord from time to timelocal taxing authority. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes Taxes shall be equal to the product obtained by multiplying the Taxes by a fraction, the numerator of which shall be the number of square feet of floor area in the Premises and assessments for such year. In the event no tax bill is available, Landlord will compute the amount denominator of such tax. If which shall be the total amount paid by Tenant under this Section for any calendar or fiscal year during number of square feet of gross leased and occupied floor area in the term of this Lease shall be less than the actual amount due from Tenant for such yearShopping Center; provided, as shown on such statementhowever, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or that with respect to the regional retail development or any portion thereof or interest therein, or buildings in the event of Shopping Center (and any land appurtenant thereto) which are separately assessed, at Landlord’s negotiation with respect to assessed valuation for the regional retail developmentoption, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described herein, Tenant relating thereto shall pay its proportionate share of Landlord’s costs, expenses not be deemed “Taxes” hereunder and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunder. For the calendar or fiscal years in which this Lease commences and terminatessuch event, the provisions floor area of this Section such separately assessed building(s) shall apply, and Tenant’s liability for its proportionate share not be included within the denominator of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunderfraction.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
TENANT'S TAX OBLIGATION. (a) Tenant shall pay to Landlord Landlord, as additional rent, its proportionate share of all taxes and existing and future assessments which may be levied or assessed by any lawful authority during or for each calendar year of the term of this Lease, or with respect to each fiscal tax year falling in whole or in part during the term of this Lease, Lease against the land, buildings and improvements comprising the Shopping Center, including but not limited to all real property taxes and of all other taxes which Landlord becomes obligated to pay with respect to the regional retail development, Center as well as any such existing assessments covering The Gardens irrespective of whether such taxes are assessed against real or personal property. Tenant’s proportionate share of such taxes and assessments shall be equal property (hereinafter referred to as the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center“Taxes”). In the event that any present or future enactment of the State Florida or any political subdivision thereof or any governmental authority having jurisdiction thereover either: (a) imposes a direct or indirect tax and/or assessment of any kind or nature upon, against or with respect to the rents payable by tenants or occupants in the regional retail development Shopping Center to Landlord derived from the regional retail development Shopping Center or with respect to the Landlord’s (’s, or the individuals’ or entities’ which constitute form the partners of the partnership which is LandlordLandlord herein, or which is the beneficiary of the Trust of which Landlord is Trustee, as applicable) ownership of the land and buildings comprising the regional retail developmentShopping Center, and/or impose a tax or surcharge of any kind or nature upon, against or with respect to the parking areas or the number of parking spaces in the Shopping Center, either in addition to or by way of substitution for all or any part of the taxes and assessments levied or assessed against such land and such buildings, including, without limitation, any net profits tax or any comparable tax imposed on any portion of Landlord’s revenues from the regional retail development or imposes an income or franchise tax on rents in substitution for a general tax levied against the Shopping Center, or in addition thereto; and/or (b) imposes a direct or indirect tax or surcharge then for the purpose of any kind or nature, upon, against or with respect to the parking areas or the number of parking spaces in the regional retail development, then in either or both of such eventsthis Section 3.04, Tenant shall be obligated to pay its proportionate share thereof as provided herein. For purposes of this Sectionhereof, the term “regional retail developmentShopping Center” shall shall, in any event, be deemed to include the any land upon which any parking facilities, temporary or permanent off-site utility systems and any wooded area, lake, shoreline thereof or island park serving the regional retail development Shopping Center are located with all improvements situated thereon. Taxes shall be deemed levied or assessed with respect to the calendar year in which the same are first due and payable without regard to the calendar year or other accounting period shown on the tax bills used by the local taxing authority. Tenant’s proportionate share of all the Taxes shall be equal to the product obtained by multiplying the Taxes by a fraction, the numerator of which shall be the aforesaid number of square feet of floor area in the Premises and the denominator of which shall be the total number of square feet of gross leased and occupied floor area in the Shopping Center; provided, however, that with respect to any buildings in the Shopping Center (and any land appurtenant thereto) which are separately assessed, at Landlord’s option, the taxes and assessments relating thereto shall not be deemed “Taxes” hereunder and in such event, the floor area of such separately assessed building(s) shall not be included within the denominator of such fraction.
(b) Tenant’s proportionate share of the Taxes levied or assessed for or during the term hereof, as determined by Landlord, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Landlord; provided that Landlord shall have the right to initially determine monthly estimates and to revise the estimates from time to time, and shall have the right to apply such monthly installments to tax bills according to the formula being utilized by Landlord from time to time. Upon receipt of all tax bills and assessment bills attributable to any calendar or fiscal year during the term hereof, Landlord shall furnish Tenant with a written statement of the actual amount of Tenant’s proportionate share of the taxes and assessments Taxes for such year. In the event no tax bill is available, Landlord will compute the amount of such tax. If the total amount paid by Tenant under this Section 3.04 for any calendar or fiscal year during the term of this Lease shall be less than the actual amount due from Tenant for such year, as shown on such statement, Tenant shall pay to Landlord the difference between the amount paid by Xxxxxx and the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Landlord; and if the total amount paid by Tenant hereunder for any such calendar or fiscal year shall exceed such actual amount due from Tenant for such year, such excess shall be credited against the next installment of taxes and assessments due from Tenant to Landlord hereunder. In the event Landlord receives a credit following the lease termination date, Tenant waives any right it may have to its proportionate share of such tax credit. All amounts due hereunder shall be payable to Landlord at the place where the minimum rent is payable. In the event Landlord contests any taxes levied or assessed during the term hereof upon, against or with respect to the regional retail development Shopping Center or any portion thereof or interest therein, or in the event of Landlord’s negotiation with respect to assessed valuation for the regional retail development, or in the event that Landlord shall incur any other expenses with respect to the evaluation, administration, management or oversight of the taxes and assessments described hereinShopping Center, Tenant shall pay pay, as additional rent, its proportionate share of Landlord’s costs, expenses and attorneys’ fees in connection therewith calculated on the same basis as set forth above in this Section, which costs, expenses and fees shall be treated as part of taxes and assessments hereunderSection 3.04. For the calendar or fiscal years year in which this Lease commences and terminates, the provisions of this Section 3.04 shall apply, and Tenant’s liability for its proportionate share of any taxes and assessments the Taxes for such years shall be subject to a pro rata prorata adjustment based on the number of days of said calendar or fiscal years during which the term of this Lease is in effect. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall at all times be sufficient evidence of the amount of taxes and/or assessments the Taxes assessed or levied against the property to which such bill relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Landlord shall notify Tenant in writing of Landlord’s estimate of Xxxxxx’s monthly installments due hereunder. Tenant’s obligations under this Section 3.04 shall survive the expiration of the term of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)