Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord's estimate of Tenant's Tax Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's Tax Payment shown on such estimate.
Appears in 2 contracts
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Landlord, as Additional Rent hereunder, the Tenant's ’s Proportionate Share of such excess amount ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's ’s good faith reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's ’s budget for TaxesTaxes (which shall be reasonably based upon the latest assessed valuation of the Building and a reasonable increase in the latest tax rate and multiplier). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord's ’s estimate of Tenant's Tenants Tax Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly . Promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days ten (10) Business Days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's ’s Tax Payment shown on such estimate.
Appears in 2 contracts
Samples: Agreement of Lease (Groupon, Inc.), Agreement of Lease (Groupon, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year after the Base Tax Year exceed the Base Taxes, then Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, ; (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, then Tenant shall pay the amount thereof within 10 business thirty (30) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, ; and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 2 contracts
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Landlord, as Additional Rent hereunder, the Tenant's ’s Proportionate Share of such excess amount ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's ’s good faith reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's ’s budget for TaxesTaxes (which shall be reasonably based upon the latest assessed valuation of the Building and a reasonable increase in the latest tax rate and multiplier). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord's ’s estimate of Tenant's ’s Tax Payment for such Comparison Year. , If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, . Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly . Promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, . Tenant shall pay the amount thereof within 10 business days ten (10) Business Days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's ’s Tax Payment shown on such estimate.
Appears in 2 contracts
Samples: Agreement of Lease (Groupon, Inc.), Agreement of Lease (Groupon, Inc.)
Tenant’s Tax Payment. (a) If Tenant’s Share of the excess of Taxes for any Comparison Tax Year over Taxes for the Taxes Base Year. If for any reason, foreseen or unforeseen (including increases in the tax rate or the assessed valuation of the Building or the Land for any reason, including changes in the method of assessment, reassessments occurring in the normal course or outside of the normal course or increases in assessments by reason of changes to the Building or the Land made by Tenant, other tenants, or Landlord), Taxes for any Tax Year, all or any part of which falls within the Term, exceed Taxes for the Taxes Base TaxesYear, Tenant shall pay to Landlord Tenant's Proportionate Share ’s Tax Payment within 15 days following Tenant’s receipt of such excess ("the Tax Statement for that Tax Year. At Tenant's Tax Payment"). For each Comparison Year’s request, Landlord shall furnish deliver to Tenant a written statement setting forth Landlord's good faith reasonable estimate copy of Tenant's Tax Payment for such Comparison Year, based upon such year's budget the relevant xxxx for Taxes. If Taxes for any Tax Year are less than Taxes for the Taxes Base Year, Tenant shall not be entitled to any payment or credit. If Landlord requests, Tenant shall pay to Landlord Tenant’s Tax Payment as reasonably estimated by Landlord from time to time in monthly or other periodic installments, in advance, on the first day of each calendar month during such Comparison or other period, so that on the date 30 days before the date Landlord is required (without interest or penalty) to pay Taxes for any Tax Year an amount equal to one-twelfth or part of Landlord's estimate of a Tax Year Landlord shall have received from Tenant Tenant's ’s Tax Payment for such Comparison that Tax Year or that part of a Tax Year. IfIf Landlord requests or revises the installments of Tenant’s Tax Payment following the commencement of a Tax Year, howeverTenant shall (a) until a request is made, pay the installments of Tenant’s Tax Payment for the prior Tax Year and (b) within 15 days following Tenant’s receipt of Landlord’s request or revision, pay the installments of Tenant’s Tax Payment retroactive to the beginning of that Tax Year to the extent they exceed the payments previously made by Tenant for that Tax Year (or if they are less, Landlord shall furnish any such estimate for a Comparison Year subsequent to credit the commencement thereof, then (i) until difference against the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord next payments under this Section 8.2 during lease). If 30 days before the last month date Landlord is required (without interest or penalty) to pay Taxes for any Tax Year or any part of a Tax Year the preceding Comparison aggregate amount collected by Landlord from Tenant is not sufficient to pay Tenant’s Tax Payment for that Tax Year or that part of a Tax Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay to Landlord the deficiency within 15 days following Tenant’s receipt of Landlord’s request. If, however, the aggregate amount thereof within 10 business days after demand therefor, or (B) if there shall have been an overpaymentcollected by Landlord from Tenant is greater than Tenant’s Tax Payment, Landlord shall credit the amount thereof excess against Tenant’s next payments under this lease or, if any excess is due Tenant at the Expiration Date, Landlord shall promptly pay that excess to Tenant. Landlord may, at Landlord’s option, institute proceedings to reduce Taxes. Tenant may not institute such proceedings. If Taxes for the Taxes Base Year are reduced, Tenant’s Tax Payment for all Tax Years subsequent payments of Rent due hereunderto the Taxes Base Year shall be recomputed based on the reduced Taxes for the Taxes Base Year, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord, within 15 days following receipt of Landlord’s request, the deficiency between the amount due as a result of the recomputations and the amount paid by Tenant. If Landlord an amount equal receives a refund or credit of Taxes for any Tax Year for which Tenant made Tenant’s Tax Payment, Landlord shall credit Tenant’s Share of the refund or credit against Tenant’s next payments under this lease (or, if any refund or credit is due Tenant at the Expiration Date, Landlord shall promptly pay that refund or credit to one-twelfth Tenant), after deducting from the refund or credit any reasonable expenses incurred by Landlord to obtain the refund or credit which have not been previously reimbursed to Landlord, but Tenant’s Share of the refund or credit for any Tax Year shall not exceed Tenant's ’s Tax Payment shown paid for that Tax Year. If the Commencement Date or the Expiration Date is a date other than the first or last day of a Tax Year, Tenant’s Tax Payment for that Tax Year shall be apportioned according to the number of days of that Tax Year within the Term. Tenant shall, to the extent not paid by Tenant to Landlord as part of Taxes, pay to Landlord, within 15 days following Tenant’s receipt of Landlord’s request, any occupancy, rent or other tax now or hereafter imposed on such estimateTenant which (a) must be collected by Landlord, (b) is payable by Landlord if not paid by Tenant or (c) is a lien on any part of the Building or the Land. Tenant shall pay to Landlord, within 15 days following Tenant’s receipt of Landlord’s invoice, Tenant’s Share of the reasonable expenses incurred to contest any Taxes applicable to any part of the Term (prorated for any partial Tax Year within the Term) which have not been previously reimbursed to Landlord.
Appears in 2 contracts
Samples: Office Lease, Office Lease
Tenant’s Tax Payment. (aA) If the Taxes for any Comparison Year exceed the Base TaxesCommencing on January 1, 2014, Tenant shall pay as Escalation Rent for each Tax Year, an amount (“Tenant’s Tax Payment”) equal to Tenant’s Share of the amount by which the Taxes for such Tax Year are greater than the Base Tax Factor. Tenant’s Tax Payment shall be payable by Tenant to Landlord Tenant's Proportionate Share in twelve (12) equal monthly installments (subject to the further provisions of this Section 3.2), the first of which shall be due within thirty (30) days after receipt of a Landlord’s Tax Statement, regardless of whether such Landlord’s Tax Statement is received prior to, on or after the first day of such excess ("Tenant's Tax Payment"). For each Comparison Year, Landlord Year and the remaining installments shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for Taxes. Tenant shall pay to Landlord be due on the first day of each month thereafter. If there is any increase in Taxes for any Tax Year, whether during or after such Tax Year, or if there is any decrease in the Taxes for any Tax Year during such Comparison Tax Year, Landlord may furnish a revised Landlord’s Tax Statement for any Tax Year an amount equal to one-twelfth of Landlord's estimate of affected, and Tenant's ’s Tax Payment for such Comparison Tax Year shall be adjusted and, (a) within thirty (30) days after Tenant’s receipt of such revised Landlord’s Tax Statement, Tenant shall (with respect to any increase in Taxes for such Tax Year) pay the appropriate increase in Tenant’s Tax Payment to Landlord, or (b) (with respect to any decrease in Taxes for such Tax Year) Landlord shall, at its election, either credit such decrease in Tenant’s Tax Payment against the next installment of Rental payable by Tenant or refund the amount of such decrease by check to the order of Tenant or, if at the end of the Term, there shall not be any further installments of Rental remaining against which Landlord can credit any decrease in Taxes due Tenant, Landlord shall deliver to Tenant Landlord’s check in the amount of the refund due Tenant within thirty (30) days after Landlord’s receipt of any refund. If, howeverduring the Term, Landlord shall furnish any such estimate for a Comparison Year subsequent Taxes are required to be paid (either to the commencement thereofappropriate taxing authorities or as tax escrow payments to a Lessor or Mortgagee), in full or in quarterly or other installments on any other date or dates than as presently required, then Tenant’s Tax Payments shall be correspondingly accelerated or revised so that Tenant’s Tax Payments are due at least thirty (i30) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal days prior to the monthly sum payable by Tenant date payments are due to the taxing authorities, the Lessor or the Mortgagee. The benefit of any discount for any early payment or prepayment of Taxes shall accrue solely to the benefit of Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there Taxes shall be a deficiencycomputed without subtracting such discount. Taxes shall be calculated for the Base Tax Factor and for each Tax Year thereafter without giving effect to any tax exemption, Tenant shall pay abatement or deferral program then affecting the amount thereof within 10 business days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's Tax Payment shown on such estimateBuilding.
Appears in 2 contracts
Samples: Agreement of Lease (Everyday Health, Inc.), Agreement of Lease (Everyday Health, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days 20 Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 2 contracts
Samples: Lease (Marchex Inc), Lease (Marchex Inc)
Tenant’s Tax Payment. (a) If the Taxes Tax Factor for any Comparison Tax Year exceed exceeds the Base TaxesTax Factor, Tenant shall pay to Landlord Landlord, as Additional Rent, an amount (“Tenant's Proportionate Share of such excess ("Tenant's ’s Tax Payment")”) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Tax Factor for such Tax Year exceeds the Base Tax Factor. For each Comparison YearYear in which any Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesTax Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Tax Year. If, however, If Landlord shall not furnish a Tax Estimate for a Comparison Year or if Landlord shall furnish any such estimate a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 7.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's the Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's the Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (A1) if there shall be a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days 15 Business Days after demand therefordemand, or (B2) if there shall have been an overpayment, Landlord shall credit the amount thereof such overpayment against subsequent payments installments of Rent next coming due hereunder, ; and (iiiz) on the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's Tax Payment shown on such estimate.amount
Appears in 1 contract
Samples: Lease Agreement
Tenant’s Tax Payment. (a) If the Taxes for any For each Comparison Year exceed the Base TaxesYear, Tenant shall pay Landlord an amount equal to Landlord Tenant's ’s Proportionate Share of the total dollar increase, if any, in Taxes paid or payable by Landlord in such excess year over the Taxes paid or payable by Landlord in the Base Year ("together, “Tenant's ’s Tax Payment"”) as provided in this Section (in the event Taxes decrease from the Base Year, Tenant shall be reimbursed or credited as set forth below). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Yearcalendar year (the “Tax Estimate”), based upon such year's budget for Taxes. and Tenant shall pay to Landlord on the first day of each month during such Comparison Year calendar year an amount equal to one-twelfth 1/12 of Landlord's estimate of the Tax Estimate; provided, that if Landlord shall, in its reasonable judgment, adjust such Tax Estimate at any time, or if at any time Tenant's Tax Payment ’s obligation for such Comparison Year. Ifcosts incurred or to be incurred is expected by Landlord, howeverin its reasonable judgment, to materially exceed the monthly installments paid as of such time on account of such costs, Landlord shall be entitled to increase the amount of such monthly installments to such amount as Landlord shall reasonably determine to allow Landlord to pay such costs when due. Landlord shall furnish to Tenant a statement, in reasonable detail, of Tenant’s Tax Payment payable for such calendar year and shall use commercially reasonable efforts to deliver such statement within 180 days following the end of each calendar year, and subject to any such estimate for a Comparison Year subsequent adjustments pursuant to the commencement thereofSection 5.7, then (i) until if such statement shows that the first day of sums so paid by Tenant as the month following the month in which Tax Estimate were less than Tenant’s Tax Payment due for such estimate is furnished to Tenantcalendar year, Tenant shall pay to Landlord on the first day amount of each month an amount equal such deficiency within 30 days after delivery of such statement to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison YearTenant, or (ii) promptly after if such estimate is furnished to statement shows that the sums so paid by Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of were more than Tenant's ’s Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days after demand therefor, or (B) if there shall have been an overpaymentPayment, Landlord shall credit the amount thereof such overpayment against subsequent payments of Rent due hereunderor, at its option during the Lease Term, and (iii) on following the first day expiration of the month following Lease Term, return it to the month in which Tenant within 30 days after such estimate determination, provided that no Event of Default has occurred and is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's Tax Payment shown on such estimateexisting.
Appears in 1 contract
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess Taxes ("“Tenant's ’s Tax Payment"”). For each Comparison Yearcalendar year (or portion thereof) during the Term, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for Taxescalendar year (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year the Term an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Yearcalendar year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year calendar year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Yearcalendar year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year calendar year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year calendar year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after demand thereforthere for, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Yearcalendar year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any calendar year.
Appears in 1 contract
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess the Taxes payable for any Comparison Year ("Tenant's Tax Payment"). For On or about the start of each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate Statement of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for the Taxes. Tenant shall pay Tenant's Tax Payment to Landlord Landlord, in monthly installments, on the first day of each month during such each Comparison Year Year, an amount equal to one-twelfth 1/12 of LandlordTenant's estimate of Tax Payment due for each Comparison Year. If there is any increase or decrease in Taxes payable for any Comparison Year, whether levied during or after such Comparison Year, Landlord may furnish a revised Statement for such Comparison Year, Tenant's Tax Payment for such Comparison Year shall be adjusted and, within 10 Business Days after delivery of such revised Statement (a) with respect to any increase in Taxes payable for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of increase in Tenant's Tax Payment to be made Landlord, or (b) with respect to any decrease in Taxes payable for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days after demand therefor, or (B) if there shall have been an overpaymentYear, Landlord shall credit such decrease in Tenant's Tax Payment against the amount thereof next installment of Rent payable by Tenant. Only Landlord may institute proceedings to reduce the Assessed Valuation of the Real Property and the filings of any such proceeding by Tenant without Landlord's consent shall constitute an Event of Default. If Landlord receives a refund of Taxes for any Comparison Year, Landlord shall credit against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth Tenant's Proportionate Share of the refund, net of any expenses incurred by Landlord in achieving such refund, which amount shall not exceed Tenant's Tax Payment shown on paid for such estimateComparison Year. Landlord shall not be obligated to file any application or institute any proceeding seeking a reduction in Taxes or the Assessed Valuation. Tenant shall be responsible for any applicable occupancy or rent tax now in effect or hereafter enacted and, if payable by Landlord, Tenant shall promptly pay such amounts to Landlord, upon Landlord's demand.
Appears in 1 contract
Samples: Lease (PMC Sierra Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Tax Year exceed or portion of a Tax Year beginning with the Tax Year commencing immediately following the Base TaxesTax Year, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment")”) as Additional Rent. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesTax Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month prior to and during such Comparison Year (but not more than six (6) months prior to the start of such Comparison Year) an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison YearTax Year (“Tenant’s Monthly Tax Payment”). If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 7.2(a) for the last month of the preceding Comparison Year, ; (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give written notice to Tenant stating whether the installments of Tenant's the Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's the Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after demand thereforreceipt of written demand, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent next coming due hereunderhereunder (or if there shall be no subsequent payments of Rent next coming due, Landlord shall pay to Tenant the amount of such overpayment within thirty (30) days; and (iii) on the first 1st day of the month following the month in which such estimate is furnished to Tenantten (10) Business Days’ notice, and on the first 1st day of each month thereafter throughout the remainder of such Comparison YearYear (and the next comparison year until a new estimate or statement is provided), Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of the Tax Estimate. Landlord may, at any time, furnish to Tenant a revised Tax Estimate for such Comparison Year, and in such case, Tenant’s Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid (including, without limitations as a result of late billing of Tenant's ) or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. Within 180 days after the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant’s Tax Payment shown payable for such Comparison Year together with copies of the actual Tax bills used in connection with such calculation (if received), and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant’s Tax Payment due for such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency within 30 days after delivery of the Statement to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant’s Tax Payment, Landlord shall credit such overpayment against subsequent payments of Rent next coming due, if any (or if there shall be no subsequent payments of Rent next coming due, Landlord shall pay to Tenant the amount of such overpayment within thirty (30) days). If there shall be any increase in the Taxes for any Tax Year during the Term, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant’s Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited (or repaid), as the case may be, substantially in the same manner as provided in the preceding sentence. Landlord agrees that the Base Tax Year shall be the first Tax Year that ICAP benefits are obtained and applicable for the Real Property. Until a Base Tax Year is so determined, Tenant shall have no obligation to pay Tenant’s Proportionate Share of any Taxes, unless ICAP benefits are not obtained (or are obtained but withdrawn) on or before the 2020/2021 Tax Year, then in such estimatecase the Base Tax Year shall be the 2020/2021 Tax Year.
Appears in 1 contract
Samples: Agreement (2U, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Tax Year after the Tax Year commencing on July 1, 1999 exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share in respect of Taxes of such excess ("Tenant's Tax Payment"). For Landlord may furnish to Tenant, prior to the commencement of each Comparison YearYear in which such Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Tax Year. Subject to the provisions of this Section 8.2(a), based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during any such Comparison Year (and on the first day of each month thereafter in such Comparison Year) an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's Tax Payment for such Comparison Tax Year. If, however, If Landlord shall not furnish any such estimate for such Comparison Year or if Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 8.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate is furnished to Tenant or together therewithTenant, Landlord shall give notice to Tenant stating whether if the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and then (A1) if there shall be is a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days ten (10) Business Days after demand thereforsuch estimate is furnished to Tenant, or (B2) if there shall have been is an overpayment, Landlord shall credit the amount thereof such overpayment against subsequent payments installments of Rent due hereunder, Rent; and (iiiz) on the first day of the month following the month in which such estimate is furnished to Tenant, Tenant and on the first day of each month monthly thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant's Tax Payment shown on such estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of Landlord's estimate of Tenant's Tax Payment for such Comparison Year, and in such case, Tenant's Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant's Tax Payment payable for such Comparison Year and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant's Tax Payment due for the Tax Year commencing during such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency in Tenant's Tax Payment within ten (10) Business Days after such Statement is furnished to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant's Tax Payment, Landlord shall, at its election, pay to Tenant such overpayment in Tenant's Tax Payments or credit such overpayment in Tenant's Tax Payment against subsequent installments of Rent payable by Tenant. If there shall be any increase in the Taxes for any Tax Year, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant's Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. The benefit of any discount for any early payment or prepayment of Taxes and of any tax exemption or abatement relating to all or any part of the Real Property shall accrue solely to the benefit of Landlord and Taxes shall be computed without subtracting such discount or taking into account any such exemption or abatement.
Appears in 1 contract
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the "Tax Estimate"). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days ten (10) Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than thirty (30) days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 1 contract
Samples: Lease (Catasys, Inc.)
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess Taxes for each Calendar Year ("“Tenant's ’s Tax Payment"”). For each Comparison Calendar Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesCalendar Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Calendar Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Calendar Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Calendar Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Calendar Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Calendar Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Calendar Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent the next payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Calendar Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (BTHC VII Inc)
Tenant’s Tax Payment. (a) If the Taxes Tax Factor for any Comparison Tax Year exceed exceeds the Base TaxesTax Factor, Tenant shall pay to Landlord Landlord, as Additional Rent, an amount (“Tenant's Proportionate Share of such excess ("Tenant's ’s Tax Payment")”) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Tax Factor for such Tax Year exceeds the Base Tax Factor. For each Comparison YearYear in which any Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesTax Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Tax Year. If, however, If Landlord shall not furnish a Tax Estimate for a Comparison Year or if Landlord shall furnish any such estimate a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 7.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's the Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's the Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (A1) if there shall be a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days 15 Business Days after demand therefordemand, or (B2) if there shall have been an overpayment, Landlord shall credit the amount thereof such overpayment against subsequent payments installments of Rent next coming due hereunder, ; and (iiiz) on the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of the Tax Estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Tax Estimate for such Comparison Year, and in such case, Tenant's ’s Tax Payment shown on for such estimateComparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant’s Tax Payment for such Comparison Year, and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant’s Tax Payment for such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency within 10 Business Days after the delivery of such Statement to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant’s Tax Payment, Landlord shall credit such overpayment against subsequent payments of Rent next coming due. If there shall be any increase in the Taxes for any Tax Year, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant’s Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence.
Appears in 1 contract
Tenant’s Tax Payment. (a) If During each calendar year of the Taxes for any Comparison Year exceed the Base Taxes-------------------- Term, or portion thereof, Tenant shall pay to Landlord Tenant's Proportionate Share of the amount of Taxes payable or incurred by Landlord during such excess calendar year ("Tenant's Tax Payment"). For On or about the start of each Comparison Yearcalendar year of the Term, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate Statement of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for the Taxes. Tenant shall pay Tenant's Tax Payment to Landlord Landlord, in monthly installments, on the first day of each month during such Comparison Year each calendar year, an amount equal to one-one twelfth of LandlordTenant's estimate of Tax Payment due for each calendar year. If there is any increase or decrease in Taxes payable for any calendar year, whether levied during or after such calendar year, Landlord may furnish a revised Statement for such calendar year, Tenant's Tax Payment for such Comparison Year. Ifcalendar year shall be adjusted and, however, Landlord shall furnish within ten (10) Business Days after Tenant's receipt of such revised Statement (a) with respect to any increase in Taxes payable for such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenantcalendar year, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of increase in Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days after demand thereforLandlord, or (Bb) if there shall have been an overpaymentwith respect to any decrease in Taxes payable for such calendar year, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month such decrease in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant's Tax Payment shown against the next installment of Rent payable by Tenant or, to the extent any such credit is determined and/or received by Landlord following the expiration or earlier termination of the Term for reasons other than following an Event of Default, the amount thereof shall be paid to Tenant. If, during the Term, Landlord elects to collect Tenant's Tax Payments, in full or in installments on such estimateany date or dates other than as presently required, then following Landlord's notice to Tenant, Tenant's Tax Payments shall be correspondingly revised. Any rebates, discounts or like items actually received by Landlord shall be credited to reduce the amount of the Taxes.
Appears in 1 contract
Samples: Lease (Portal Software Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (Durata Therapeutics, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimate.Estimate from time to time during any Comparison Year. 6219070.4
Appears in 1 contract
Samples: Lease (Achieve Life Sciences, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year after the Base Tax Year exceed the Base Taxes, then Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("“Tenant's Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, ; (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate and the amount of any difference, and (Ax) if there shall be a deficiency, then Tenant shall pay the amount thereof within 10 business thirty (30) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, ; and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (Centessa Pharmaceuticals PLC)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Tax Payment until the earlier of (a) the first (1st) yearly anniversary of the date Tenant (or any party claiming by, through or under Tenant) occupies any part of the Premises for the conduct of Tenant’s (or such other party’s) business, or (b) September 1, 2012. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's Xxxxxx’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days fifteen (15) Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Deed of Lease (Carlyle Group L.P.)
Tenant’s Tax Payment. (a) If During the Taxes for any Comparison Year exceed the Base TaxesTerm, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess any increase in Taxes incurred by Landlord in each calendar year subsequent to the Base Tax Year, over the Taxes incurred by Landlord during the Base Tax Year ("“Tenant's ’s Tax Payment"”), as hereinafter provided. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for Taxeseach Lease Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Lease Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Lease Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Lease Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Lease Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Lease Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Lease Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Lease Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Lease Year.
Appears in 1 contract
Samples: Lease (Inphi Corp)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth (1/12) of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business thirty (30) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month which is thirty (30) days following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12) of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 1 contract
Samples: Lease (ChromaDex Corp.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For On or about the start of each Comparison Year, Landlord shall furnish to Tenant a written statement Statement of the Taxes setting forth Landlordthe dates on which Landlord is obligated under law or to a Mortgagee or Lessor to pay Taxes in respect of such Comparison Year (the "Tax Payment Dates"), with the percentage of Taxes payable on each Tax Payment Date. Tenant shall pay to Landlord thirty days before each Tax Payment Date the same percentage of Tenant's good faith reasonable estimate Tax Payment payable for such Comparison Year as shown on such Statement as the percentage of Taxes for such Comparison Year payable by Landlord on such Tax Payment Date. In no event shall Tenant be obligated to make any payment of Tenant's Tax Payment sooner than ten days after receipt by Tenant of the relevant Statement. If there is any increase or decrease in Taxes payable for any Comparison Year, whether levied during or after such Comparison Year, Landlord may furnish a revised Statement for such Comparison Year, Tenant's Tax Payment for such Comparison Year, based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord's estimate of Tenant's Tax Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiencyadjusted and, Tenant shall pay the amount thereof within 10 business days after demand therefor, or Tenant's receipt of such revised Statement (Ba) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month with respect to any increase in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of Taxes payable for such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of such increase in Tenant's Tax Payment shown to Landlord, or (b) with respect to any decrease in Taxes payable for such Comparison Year, Landlord shall credit such decrease in Tenant's Tax Payment against the next installment of Rent payable by Tenant. If, during the Term, Landlord elects to collect Tenant's Tax Payments, in full or in installments on such estimateany date or dates other than as presently required, then following Landlord's notice to Tenant, Tenant's Tax Payments shall be correspondingly revised.
Appears in 1 contract
Samples: Kasper a S L LTD
Tenant’s Tax Payment. (a) If the Taxes for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord TenantXxxxxx's Proportionate Share of such excess the Taxes for each Tax Year or portion thereof during the Term ("“Tenant's Tax Payment")”) from and after the Rent Commencement Date. For each Comparison Tax Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of TenantXxxxxx's Tax Payment for such Comparison Year, based upon such year's budget for TaxesTax Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Tax Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Tax Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Tax Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Tax Year, ; (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Tax Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Tax Year in accordance with such estimatethe Tax Estimate and the amount of any difference, and (Ax) if there shall be a deficiency, then Tenant shall pay the amount thereof within 10 business thirty (30) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, ; and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Tax Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (CRISPR Therapeutics AG)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Tax Payment until the Rent Commencement Date (i.e., Tenant shall not be responsible for any Tenant’s Tax Payment for any period preceding the Rent Commencement Date). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business thirty (30) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunderhereunder or, if received after the expiration or sooner termination of the Term, promptly pay such amount to Tenant, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Deed of Lease (FBR & Co.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth (1/12) of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days ten (10) Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12) of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 1 contract
Samples: Lease (Cereplast Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Tax Year after the Base Tax Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For Landlord may furnish to Tenant, prior to the commencement of each Comparison YearYear in which any such Tax Year commences, Landlord shall furnish to Tenant a written statement Statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Tax Year. Subject to the provisions of this Section 8.2(a), based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during any such Comparison Year (and on the first day of each month thereafter in such Comparison Year) an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's Tax Payment for such Comparison Tax Year. If, however, If Landlord shall not furnish any such estimate for such Comparison Year or if Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 8.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate is furnished to Tenant or together therewithTenant, Landlord shall give notice to Tenant stating whether if the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and then (A1) if there shall be is a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business 20 days after demand thereforsuch estimate is furnished to Tenant, or (B2) if there shall have been is an overpayment, Landlord shall credit the amount thereof such overpayment against subsequent payments installments of Rent due hereunder, Rent; and (iiiz) on the first day of the month following the month in which such estimate is furnished to Tenant, Tenant and on the first day of each month monthly thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant's Tax Payment shown on such estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of Landlord's estimate of Tenant's Tax Payment for such Comparison Year, and in such case, Tenant's Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes for such Comparison Year and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant's Tax Payment for such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency in Tenant's Tax Payment within 20 days after such Statement is furnished to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than Tenant's Tax Payment for such Comparison Year, Landlord shall, at its election, pay to Tenant such overpayment in Tenant's Tax Payments or credit such overpayment in Tenant's Tax Payment against subsequent installments of Rent payable by Tenant and if any such credit remains outstanding as of the Expiration Date, Landlord will pay the amount thereof to Tenant within 30 days thereafter. If there shall be any increase in the Taxes for any Comparison Year, whether during or after such Comparison Year, or if there shall be any decrease in the Taxes for any Comparison Year, Tenant's Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. The benefit of any discount for any early payment or prepayment of Taxes and of any tax exemption or abatement relating to all or any part of the Real Property shall accrue solely to the benefit of Landlord and Taxes shall be computed without subtracting such discount or taking into account any such exemption or abatement.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Advent Software Inc /De/)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the "Tax Estimate"). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the second month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment Estimate previously made for such the preceding Comparison Year were greater or less than the installments of Tenant's Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the second month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Philadelphia Consolidated Holding Corp)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Tax Year after the Base Tax Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For Landlord may furnish to Tenant, prior to the commencement of each Comparison YearYear in which such Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Tax Year. Subject to the provisions of this Section 8.2(a), based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during any such Comparison Year (and on the first day of each month thereafter in such Comparison Year) an amount equal to one-twelfth 1/12th of Landlord's ’s estimate of Tenant's ’s Tax Payment for such Comparison Tax Year. If, however, If Landlord shall not furnish any such estimate for such Comparison Year or if Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 8.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate is furnished to Tenant or together therewithTenant, Landlord shall give notice to Tenant stating whether if the installments of Tenant's ’s Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment to be made for such Comparison Year in accordance with such estimate, and then (A1) if there shall be is a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days ten (10) Business Days after demand thereforsuch estimate is furnished to Tenant, or (B2) if there shall have been is an overpayment, Landlord shall credit such overpayment against the amount thereof against subsequent payments next installments of Rent due hereunder(and if such overpayment or underpayment was more than 10% of the actual amount required to be paid hereunder other than as a result of a reduction in Taxes following any tax reduction proceeding prosecuted by Landlord, then such adjustment shall include interest at the Base Rate on such underpayment or overpayment, as applicable, from the date originally paid by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such overpayment against rent, as applicable); and (iiiz) on the first day of the month following the month in which such estimate is furnished to Tenant, Tenant and on the first day of each month monthly thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant's ’s Tax Payment shown on such estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of Landlord’s estimate of Tenant’s Tax Payment for such Comparison Year, and in such case, Tenant’s Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant’s Tax Payment payable for such Comparison Year and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant’s Tax Payment due for the Tax Year commencing during such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency in Tenant’s Tax Payment within ten (10) Business Days after such Statement is furnished to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant’s Tax Payment, Landlord shall, at its election, pay to Tenant such overpayment in Tenant’s Tax Payments or credit such overpayment in Tenant’s Tax Payment against subsequent installments of Rent payable by Tenant. If there shall be any increase in the Taxes for any Tax Year, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant’s Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. The benefit of any discount for any early payment or prepayment of Taxes and of any tax exemption or abatement relating to all or any part of the Real Property (to the extent Landlord has expended sums of money to obtain such tax exemption or abatement, which were not included in Operating Expenses) shall accrue solely to the benefit of Landlord and Taxes shall be computed without subtracting such discount or taking into account any such exemption or abatement. Tenant shall be entitled to its pro rata benefit of any other tax exemption or abatement. Tenant represents and warrants to Tenant that, as of the date hereof, there is no such abatement or exemption from Taxes applicable to the Building.
Appears in 1 contract
Samples: Lease (Greenhill & Co Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”); provided, however, that in no event shall Tenant be obligated to pay the portion of Tenant’s Tax Payment for the period attributable to January 1, 2011 through June 26, 2011. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth (1/12) of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days twenty (20) Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12) of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year, provided that Landlord shall not have the right to make more than one (1) adjustment to the Tax Estimate during any Comparison Year, in addition to any adjustment made at the time the Statement was delivered to Tenant.
Appears in 1 contract
Samples: Lease (Mindspeed Technologies, Inc)
Tenant’s Tax Payment. (a) If the Taxes Tax Factor for any Comparison Tax Year exceed exceeds the Base TaxesTax Factor, Tenant shall pay to Landlord Landlord, as Additional Rent, an amount (“Tenant's Proportionate Share of such excess ("Tenant's ’s Tax Payment")”) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Tax Factor for such Tax Year exceeds the Base Tax Factor. For each Comparison YearYear in which any Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesTax Year (the “Tax Estimate”). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Tax Year. If, however, If Landlord shall not furnish a Tax Estimate for a Comparison Year or if Landlord shall furnish any such estimate a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 7.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's the Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's the Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (A1) if there shall be a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days Business Days after demand therefordemand, or (B2) if there shall have been an overpayment, Landlord shall credit the amount thereof such overpayment against subsequent payments installments of Rent next coming due hereunder, ; and (iiiz) on the first day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of the Tax Estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Tax Estimate for such Comparison Year, and in such case, Tenant's ’s Tax Payment shown on for such estimateComparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant’s Tax Payment for such Comparison Year, and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant’s Tax Payment for such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency within 10 Business Days after the delivery of such Statement to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant’s Tax Payment, Landlord shall credit such overpayment against subsequent payments of Rent next coming due. If there shall be any increase in the Taxes for any Tax Year, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant’s Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence.
Appears in 1 contract
Samples: Lease (Xstelos Holdings, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 1 contract
Samples: Lease (E2open Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's Txxxxx’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first I st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating staling whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (Larimar Therapeutics, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1112 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business forty-five (45) days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, or if no further payments of Rent are due hereunder, Landlord shall refund such amount directly to Tenant within forty-five (45) days following the date upon which Landlord becomes aware of such overpayment, and (iii) on the first within forty-five (45) day of the month following the month in date upon which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one1/12 of the Tax Estimate. Landlord shall have the right, upon not less than forty-twelfth of five (45) days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on such estimateEstimate from time to time during any Comparison Year.
Appears in 1 contract
Samples: Agreement of Sublease (Sunrun Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Tax Year after the Base Tax Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For Landlord may furnish to Tenant, prior to the commencement of each Comparison YearYear in which such Tax Year commences, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Tax Year. Subject to the provisions of this Section 8.2(a), based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during any such Comparison Year (and on the first day of each month thereafter in such Comparison Year) an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's Tax Payment for such Comparison Tax Year. If, however, If Landlord shall not furnish any such estimate for such Comparison Year or if Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during 8.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate is furnished to Tenant or together therewithTenant, Landlord shall give notice to Tenant stating whether if the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and then (A1) if there shall be is a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business days ten (10) Business Days after demand thereforsuch estimate is furnished to Tenant, or (B2) if there shall have been is an overpayment, Landlord shall credit such overpayment against the amount thereof against subsequent payments next installments of Rent due hereunder(and if such overpayment or underpayment was more than 10% of the actual amount required to be paid hereunder other than as a result of a reduction in Taxes following any tax reduction proceeding prosecuted by Landlord, then such adjustment shall include interest at the Base Rate on such underpayment or overpayment, as applicable, from the date originally paid by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such overpayment against rent, as applicable); and (iiiz) on the first day of the month following the month in which such estimate is furnished to Tenant, Tenant and on the first day of each month monthly thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant's Tax Payment shown on such estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of Landlord's estimate of Tenant's Tax Payment for such Comparison Year, and in such case, Tenant's Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes applicable to Tenant's Tax Payment payable for such Comparison Year and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant's Tax Payment due for the Tax Year commencing during such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency in Tenant's Tax Payment within ten (10) Business Days after such Statement is furnished to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than such Tenant's Tax Payment, Landlord shall, at its election, pay to Tenant such overpayment in Tenant's Tax Payments or credit such overpayment in Tenant's Tax Payment against subsequent installments of Rent payable by Tenant. If there shall be any increase in the Taxes for any Tax Year, whether during or after such Tax Year, or if there shall be any decrease in the Taxes for any Tax Year, Tenant's Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. The benefit of any discount for any early payment or prepayment of Taxes and of any tax exemption or abatement relating to all or any part of the Real Property shall accrue solely to the benefit of Landlord and Taxes shall be computed without subtracting such discount or taking into account any such exemption or abatement.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Greenhill & Co Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base TaxesTaxes applicable to any portion of the Premises, Tenant shall pay to Landlord Tenant's Proportionate Share in respect of such portion of the Premises of such excess ("Tenant's Tax Payment"). For On or about the start of each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate Statement of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for the Taxes. Tenant shall pay Tenant's Tax Payment to Landlord Landlord, in monthly installments, on the first day of each month during such each Comparison Year Year, an amount equal to one-one twelfth of LandlordTenant's estimate of Tax Payment due for each Comparison Year. If there is any increase or decrease in Taxes payable for any Comparison Year, whether levied during or after such Comparison Year, Landlord may furnish a revised Statement for such Comparison Year, Tenant's Tax Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiencyadjusted and, Tenant shall pay the amount thereof within 10 15 business days after demand therefor, or Tenant's receipt of such revised Statement (Ba) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month with respect to any increase in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of Taxes payable for such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of such increase in Tenant's Tax Payment shown on to Landlord, or (b) with respect to any decrease in Taxes payable for such estimate.Comparison Year, Landlord shall credit such decrease in Tenant's Tax Payment against the next installment of Rent payable by Tenant. If, during the Term, Landlord elects to collect Tenant's Tax Payments, in full or in
Appears in 1 contract
Samples: Martha Stewart Living Omnimedia Inc
Tenant’s Tax Payment. (a) If the Taxes Tax Factor for any Comparison Year exceed exceeds the Base TaxesTax Factor, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For Landlord, as Additional Rent during each Comparison Year, an amount ("TENANT'S TAX PAYMENT") equal to (i) Tenant's Area applicable to each portion of the Premises from and after the Commencement Date in respect thereof, MULTIPLIED BY (ii) the amount by which the Tax Factor for such Comparison Year exceeds the Base Tax Factor. Landlord shall furnish to Tenant Tenant, a written statement setting forth Landlord's good faith reasonable estimate of Tenant's Tax Payment for such Comparison Year, based upon such year's budget for Taxes. Tenant shall pay to Landlord on the first day of each month during such Comparison Year Year, an amount equal to one-twelfth 1/12th of Landlord's estimate of Tenant's Tax Payment for such Comparison Year. If, however, If Landlord shall not furnish any such estimate for a Comparison Year or if Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (ix) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during SECTION 7.2(a) for the last month of the preceding Comparison Year, ; (iiy) promptly after such estimate is furnished to Tenant or together therewithTenant, Landlord shall give notice to Tenant stating whether if the installments of Tenant's Tax Payment previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment to be made for such Comparison Year in accordance with such estimate, and then (A1) if there shall be is a deficiency, Tenant shall pay the amount thereof to Landlord within 10 business 30 days after demand thereforsuch estimate is furnished to Tenant, or (B2) if there shall have been is an overpayment, Landlord shall credit such overpayment against subsequent installments of Rent due under this Lease and if any such credit remains outstanding as of the Expiration Date or any earlier termination of this Lease, Landlord shall pay the amount thereof against subsequent payments of Rent due hereunder, to Tenant within 30 days thereafter; and (iiiz) on the first day of the month following the month in which such estimate is furnished to Tenant, Tenant and on the first day of each month monthly thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant's Tax Payment shown on such estimate. Landlord may, during each Comparison Year, furnish to Tenant a revised Statement of Landlord's estimate of Tenant's Tax Payment for such Comparison Year, and in such case, Tenant's Tax Payment for such Comparison Year shall be adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. After the end of each Comparison Year, Landlord shall furnish to Tenant a Statement of Taxes for such Comparison Year, and (A) if such Statement shall show that the sums so paid by Tenant were less than Tenant's Tax Payment for such Comparison Year, Tenant shall pay to Landlord the amount of such deficiency in Tenant's Tax Payment within 30 days after such Statement is furnished to Tenant, or (B) if such Statement shall show that the sums so paid by Tenant were more than Tenant's Tax Payment for such Comparison Year, Landlord shall credit such overpayment in Tenant's Tax Payment against subsequent installments of Rent payable by Tenant due under this Lease and if any such credit remains outstanding as of the Expiration Date or any earlier termination of this Lease, Landlord shall pay the amount thereof to Tenant within 30 days thereafter. If there shall be any increase in the Taxes for any Comparison Year, whether during or after such Comparison Year, or if there shall be any decrease in the Taxes for any Comparison Year, Tenant's Tax Payment for such Comparison Year shall be appropriately adjusted and any deficiencies paid or overpayments credited, as the case may be, substantially in the same manner as provided in the preceding sentence. If Landlord shall not have received the relevant tax bills at the time any statement in respect of Taxes is delivered to Tenant, Landlord shall deliver to Tenant, promptly after receipt thereof by Landlord, a copy of such tax bills, together with a statement setting forth the amount (if any) of any overpayment or underpayment by Tenant with respect to any Tax Payment paid by Tenant in accordance with such statement in respect of Taxes and the amount of the overpayment or underpayment shall be paid or credited as set forth in this SECTION 7.2(a).
Appears in 1 contract
Samples: Lease (Franklin Resources Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant's ’s Tax Payment shown on such estimatefor the first 12 months after the Commencement Date.
Appears in 1 contract
Samples: Sublease Agreement (K12 Inc)
Tenant’s Tax Payment. (a) If the Taxes Tax Expenses payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess ("Tenant's Tax Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith reasonable estimate of TenantXxxxxx's Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the "Tax Estimate"). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 4.3 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 ten (10) business days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent Tax Expenses due hereunderhereunder (or refund the overpayment, if this Lease has terminated or expired), and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Landlord shall have the right, upon not less than thirty (30) days prior written notice to Tenant's , to reasonably adjust the Tax Payment shown on Estimate one (1) time during a Comparison Year. Notwithstanding anything to the contrary set forth in this Article 4, when calculating Base Taxes, such estimateBase Taxes shall not include any increase in Tax Expenses attributable to special assessments, charges, costs, or fees, or due to modifications or changes in governmental laws or regulations, including but not limited to the institution of a split tax roll.
Appears in 1 contract
Samples: Office Lease (Doma Holdings, Inc.)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 7.2 during the last month of the preceding Comparison Year, (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business 30 days after written demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against the next occurring (and if necessary, to subsequent payments of Rent due hereunder, unless Tenant requests a refund and there exists no Event of Default, in which case Landlord will promptly deliver Tenant’s portion to Tenant, and (iii) on the first 1st day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Tax Estimate. Any provision of this Section to the contrary notwithstanding, Tenant's ’s obligation to pay Tenant’s Tax Payment shown shall commence on such estimatethe first anniversary of the Rent Commencement Date.
Appears in 1 contract
Samples: Sublease (K12 Inc)
Tenant’s Tax Payment. (a) If the Taxes payable for any Comparison Year exceed the Base Taxes, Tenant shall pay to Landlord Tenant's ’s Proportionate Share of such excess ("“Tenant's ’s Tax Payment"”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Tax Payment until the first (1st) anniversary of the Rent Commencement Date. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord's good faith ’s reasonable estimate of Tenant's ’s Tax Payment for such Comparison Year, based upon such year's budget for TaxesYear (the “Tax Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord's estimate of Tenant's the Tax Payment Estimate for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes a Tax Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 8.2 during the last month of the preceding Comparison YearYear (if any), (ii) promptly after such estimate the Tax Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant's ’s Tax Payment Estimate previously made for such Comparison Year were greater or less than the installments of Tenant's ’s Tax Payment Estimate to be made for such Comparison Year in accordance with such estimatethe Tax Estimate, and (Ax) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 business days ten (10) Business Days after demand therefor, or (By) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Tax Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant's the Tax Payment shown on such estimateEstimate.
Appears in 1 contract
Samples: Lease (Convio, Inc.)