Examples of Base Year for Taxes in a sentence
Tenant shall continue to pay all Additional Rent with respect to the Existing Premises (including Tenant’s Pro Rata Share of Expense Excess and Tax Excess) in accordance with the Lease; provided, however, that commencing on February 1, 2024: (i) the Base Year for Expenses with respect to the Existing Premises shall be reset to calendar year 2024, and (ii) the Base Year for Taxes with respect to the Existing Premises shall be reset to Fiscal Year 2024 (i.e., July 1, 2023 to June 30, 2024).
The parties agree that the Base Year for Expenses and the Base Year for Taxes for the Existing Premises is and shall remain calendar year 2016.
The Yearly Rent rental rate in respect of the RFO Premises shall be based upon the Fair Market Rental Value determined as set forth above and the Base Year for Operating Expenses shall be the calendar year in which the RFO Premises Commencement Date falls, and the Base Year for Taxes shall be the fiscal year in which the RFO Premises Commencement Date falls.
Garside EL, Schellenberg MJ, Gesner EM, Bonanno JB, Sauder JM, Burley SK, et al.
If Taxes in any Fiscal Year decrease below the amount of Taxes for the Base Year for Taxes, then Tenant’s Pro Rata Share of Taxes for that Fiscal Year shall be $0.