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.
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Samples: Lease (Impossible Kicks Holding Company, Inc.), Lease (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.. Impossible Kicks/Westfarms/03/03/23 S4 COMMON AREA CHARGE
Appears in 1 contract
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. (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. Tenant’s proportionate share of such taxes and assessments Taxes 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 not include 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 's income or franchise tax on rents 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 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 Tenant's proportionate share pursuant to this Section 2.04. Prior to the parking areas or proration of such Taxes as provided in this Section 2.04, there shall be deducted therefrom all amounts received from the number of parking spaces Department Stores and/or any other tenant within the Development not included in the regional retail development, then in either or both definition of Shopping Center towards such events, Taxes. The Taxes payable by Tenant shall be obligated pursuant 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 Section 2.04(a) 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 fiscal tax year in monthly installments on or before which the first day of each calendar month, Rental Commencement Date occurs and for the fiscal tax year in advance, in an amount estimated by Landlord; provided that Landlord shall have which 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 Term of this Lease ends shall be less than the actual amount due from Tenant for such year, as shown prorated 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 hereunderdaily basis.
Appears in 1 contract
Samples: Lease (Melt 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
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. 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 effectfraction. 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.Impossible Kicks/The Gardens/7/28/2023 5
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.. S4 Impossible Kicks/Dolphin Mall/03/21/23 COMMON AREA CHARGE
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.. Pursuant to the Gross Rent provision of Section 2.01 of this Data Sheet, the foregoing is included in Gross Rent. Impossible Kicks /Xxxxxxx Center/03/22/23 S4 COMMON AREA CHARGE
Appears in 1 contract
Samples: Common Areas and Center Promotion (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. (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 effectfraction. A copy of a tax bill or assessment bill submitted by Landlord to Tenant shall Impossible Kicks/The Mall 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.Millenia/7/28/2023 5
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
