Actual Taxes definition

Actual Taxes means the result obtained by (i) dividing Taxes by the Area of the Property and (ii) multiplying the result by the Area of the Premises. "Area of the Premises" means 27,363 square feet, plus any subsequent additions thereto. "Area of the Property" shall mean the area of all space in all the buildings on the Property (including expansions thereof, if any), which is presently 102,670 square feet. "Taxes" for any calendar year shall mean (i) personal property taxes imposed upon the Property or any part thereof, (ii) real estate taxes, assessments, sanitary taxes, and any other governmental charge, general or special, ordinary or extraordinary, now or hereafter levied or assessed against or allocable to the Property or any portion thereof, or Lessor, as owner of the Property, and (iii) fees and charges of consultants incurred by Lessor with respect to items (i) and (ii) of this sentence. "Tax Base" means the product obtained by multiplying the Area of the Premises by Taxes for the 1997 calendar year divided by "Area of the Property."
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Actual Taxes means the actual Taxes imposed for a Tax Year.
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Actual Taxes has the meaning provided in Section 4.2.
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Examples of Actual Taxes in a sentence

  • If we assume that Actual Taxes equal $1,250,000.00, then the Underwritten Tax Differential would equal $945,353.00, which is less than the Purchase Price Escrow Amount ($3,458,250.00), and therefore Purchaser would receive the Underwritten Tax Differential and Sellers would receive the balance in the Purchase Price Escrow Account in an amount equal to $2,512,897.00, and Sellers would be relieved of any further liability.

  • Actual Taxes for Calendar Year 2006, subject to adjustment as provided in Section 4.A.

  • The Underwritten Tax Differential in this example is calculated as follows: [$1,250,000.00 (Actual Taxes) divided by 6.95% (agreed upon capitalization rate) = $17,985,612.00]; $17,985,612.00 - $17,040,259.00 (Underwritten Tax Amount) = $945,353.00 (Underwritten Tax Differential).

  • If Tenant’s Proportionate Share of Actual Taxes for such calendar year is less than the aggregate of the Projected Tax Installments collected by Landlord from Tenant, Landlord shall credit Tenant’s Rent hereunder, within thirty (30) days following Tenant’s receipt of such statement, the amount of such excess.

  • Lessor shall have the right, at Lessor’s sole cost and expense, at any time thereafter, to pursue the enforcement of the provisions of the Redevelopment Agreement to the extent of the Excess Amount reimbursed to Lessee, including, without limitation, any protesting of the Taxes necessary to cause the Actual Taxes to be reduced to either the Estimated or Escalated Tax Amounts, as the case may be, for the year in question, or to such lower amounts as may permit recovery of the Excess Amount to Lessor.

  • Base Taxes: Actual Taxes for the twelve month period ending June 30, 2017.

  • Operating Expense Base: Actual Operating Costs for Calendar Year 2001 Expenses Real Estate Tax Base: Actual Taxes for Fiscal tax Year 2001 Expense Unreserved Parking Spaces: The total number of parking spaces: (49).

  • If ▇▇▇▇▇▇’s share of the Actual Taxes exceed the aggregate of Tenant’s monthly payments, Tenant shall pay to Landlord any deficiency due Landlord within fifteen (15) days after receipt of said statement by ▇▇▇▇▇▇.

  • The employee’s signature on the observation report does not necessarily imply agreement with the contents thereof.

  • To the extent the Monthly Deposits exceed Tenant's Pro Rata Share of the Actual Taxes and Assessments, insurance premiums, operating expenses, maintenance and repair expenses and other costs and expenses relating to the Property and the Park, the excess amount shall, at Landlord's option, except AS MAY BE OTHERWISE PROVIDED BY LAW, EITHER BE PAID TO TENANT OR CREDITED AGAINST THE NEXT SUCCEEDING AMOUNTS PAYABLE BY TENANT UNDER THIS LEASE FOR MONTHLY DEPOSITS, BASE RENT, ADDITIONAL RENT OR OTHER AMOUNTS.


More Definitions of Actual Taxes

Actual Taxes means, with respect to each calendar year during the Term, the actual Taxes for such year. The term “Actual Tax Rate” shall mean, with respect to each calendar year during the Term, the Actual Taxes attributable to each square foot of rentable area in the Building (as set forth in Item 21 of the Basic Lease Information), and shall be calculated by dividing the Actual Taxes by the total number of square feet of rentable area in the Building. The term “Tenant’s Proportionate Share of Actual Taxes” shall mean, with respect to each calendar year during the Term, an amount equal to the product of (i) the Actual Tax Rate, multiplied by (ii) the sum of the number of square feet of rentable area in the Premises (as defined in Item 7(a) of the Basic Lease Information) in such year.
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Actual Taxes means, for the twelve (12) month period immediately preceding the date of determination, the aggregate amount of Taxes paid by Borrower and its Subsidiaries.
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Related to Actual Taxes

  • Actual Tax Liability means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation (a) appearing on Tax Returns of the Corporation for such Taxable Year and (b) if applicable, determined in accordance with a Determination (including interest imposed in respect thereof under applicable law).

  • Local taxes means all taxes levied other than taxes levied for school operating purposes.

  • Special Taxes means any and all present or future taxes, levies, imposts, deductions, charges or withholdings, or any liabilities with respect thereto, including those arising after the date hereof as result of the adoption of or any change in law, treaty, rule, regulation, guideline or determination of a Governmental Authority or any change in the interpretation or application thereof by a Governmental Authority but excluding, in the case of Lender, such taxes (including income taxes, franchise taxes and branch profit taxes) as are imposed on or measured by Lender’s net income by the United States of America or any Governmental Authority of the jurisdiction under the laws under which Lender is organized or maintains a lending office.

  • Additional Taxes means taxes, duties or other governmental charges imposed on the Trust as a result of a Tax Event (which, for the sake of clarity, does not include amounts required to be deducted or withheld by the Trust from payments made by the Trust to or for the benefit of the Holder of, or any Person that acquires a beneficial interest in, the Securities).

  • Base Taxes means the Taxes payable for the Base Tax Year.