Current Year Taxes definition

Current Year Taxes. As defined in Section 11(b).
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Current Year Taxes has the meaning set forth in Section 5.3.
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Current Year Taxes means property taxes, assessments, rates or charges, including interest, fees and costs, as set forth in Iowa Code Section 427.8.
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Examples of Current Year Taxes in a sentence

  • If the Current Year Taxes with respect to the Property have not been set as of the date thereof, the present tax rate and the most recent assessed valuation for the Property shall be used for the purposes of making the adjustments at such ROFR Closing under this paragraph and the Parties shall re-prorate within thirty (30) days following receipt of the actual final tax xxxx.

  • Any Taxes which are payable in the calendar year in which a ROFR Closing occurs but are not due and payable at the time of such ROFR Closing and the portion of the Current Year Taxes not assumed by Landlord hereunder shall be credited to Landlord through a credit against the ROFR Purchase Price at the ROFR Closing reflected on the applicable closing statement.

  • Tenant shall pay or cause to be paid (i) all delinquent real estate taxes as of the date of the ROFR Closing (to the extent incurred during the Applicable Tax Period) and (ii) so much of the Current Year Taxes as shall be allocable to Tenant (or its applicable Affiliate) by proration (based upon the number of days in such calendar year prior to the date of the ROFR Closing).

  • If the Current Year Taxes with respect to any ROFO Property or Option Property related to the applicable ROFO/Option Closing have not been set as of the date thereof, the present tax rate and the most recent assessed valuation for the subject property shall be used for the purposes of making the adjustments at such ROFO/Option Closing under this paragraph and the Parties shall re-prorate within thirty (30) days following receipt of the actual final tax xxxx.

  • DevCo shall pay or cause to be paid (i) all delinquent real estate taxes as of the date of the applicable ROFO/Option Closing and (ii) so much of the Current Year Taxes as shall be allocable to DevCo (or its applicable Affiliate) by proration (based upon the number of days in such calendar year prior to the date of the applicable ROFO/Option Closing).

  • Any Taxes which are payable in the calendar year in which a ROFO/Option Closing occurs but are not due and payable at the time of such ROFO/Option Closing and the portion of the Current Year Taxes not assumed by AIR hereunder shall be credited to AIR through a credit against the applicable purchase price at such ROFO/Option Closing reflected on the applicable closing statement.

  • Any such taxes which are payable in the calendar year in which Closing occurs but are not due and payable at the time of Closing and the portion of the Current Year Taxes not assumed by Buyer hereunder shall be allowed to Buyer as a credit against the Purchase Price at Closing.

  • Therefore, the Adjusted Annual Rent/RSF as shown above does not include the Prior Year Taxes of $_.__/rsf or any tax based upon real property as defined and required by Article 15 (i); when the Current Year Taxes are known, the Monthly Rent payment shall be adjusted accordingly.

  • Any Taxes which are payable in the calendar year in which a ROFO/Stabilized ROFO Closing occurs but are not due and payable at the time of such ROFO/Stabilized ROFO Closing and the portion of the Current Year Taxes not assumed by AIR hereunder shall be credited to AIR through a credit against the applicable purchase price at such ROFO/Stabilized ROFO Closing reflected on the applicable closing statement.

  • If the amount of the Current Year Taxes is known and payable at the time of Closing, Seller and Buyer shall pay their respective shares of the prorated Current Year Taxes at the time of Closing.


More Definitions of Current Year Taxes

Current Year Taxes means the property taxes and assessments and personal property taxes with respect to each of the Properties assessed for and first becoming a lien during the applicable portion of the tax year in which the Closing occurs.
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Current Year Taxes means, with respect to the applicable parcel of real estate, the Real Estate Taxes assessed for, and first becoming a lien against, the applicable real estate during the year in which such real estate is acquired by the applicable party.
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Current Year Taxes shall have the meaning set forth in Section 4(a)(1) hereof.
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Current Year Taxes means, with respect to the applicable parcel of real estate, the Real Estate Taxes assessed for, and first becoming a lien against, the applicable real estate during the year in which such real estate is acquired by the applicable party. Declaration shall mean the Declaration Of Covenants, Conditions And Restrictions for XxXxxx Square, which Declaration shall (a) provide minimum standards pertaining to the development, use and maintenance of XxXxxx Square Phase I; (b) ensure the stability and enhancement of values of the land and improvements within XxXxxx Square Phase I; (c) further development and improvement of XxXxxx Square Phase I in an aesthetic and architecturally harmonious manner in accordance with applicable zoning ordinances; (d) establish and apportion rights and responsibilities with regard to facilities and services in, and required for the use and operation of XxXxxx Square Phase I, which may involve, by way of example, the formation of an owners’ association; and (e) make, create, and reserve (i) pedestrian access in, on and across the Project Site; and (ii) access to and continuous use of the parking spaces constructed on and within the Project Site; which spaces, shall be publicly available spaces, including, without limitation for the Mixed-Use Project. Diligence Period shall mean the period: (a) commencing on the Execution Date; and (b) ending not later than one hundred eighty (180) days thereafter; provided, however, that, if all of the conditions set forth in Section 7 and Section 8 are satisfied and/or waived (or deemed to have been waived) prior to such ending date, then the Diligence Period instead shall end on such date as the parties agree that the conditions all have been satisfied and/or waived (or deemed to have been waived). Moreover, the Diligence Period shall be extended on a day-to-day basis for any delay caused by Town Bodies unreasonable failure to issue the Required Permits or approvals, as applicable; provided that the foregoing shall not apply with respect to failures due to: (a) the failure of Company to submit all required information to obtain the Required Permits or approvals in sufficient time to allow the customary review and approval (or rejection) process to occur;
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Related to Current Year Taxes

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

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

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Asset Taxes means all ad valorem, property, excise, severance, production or similar Taxes (including any interest, fine, penalty or addition to Tax imposed by a taxing authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom but excluding, for the avoidance of doubt, (a) income, capital gains, franchise and similar Taxes and (b) Transfer Taxes.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Employee Taxes means all taxes, assessments, charges and other amounts whatsoever payable in respect of, and measured by the wages of, the Vendor’s employees (or subcontractors), as required by the Federal Social Security Act and all amendments thereto and/or any other applicable federal, state or local law.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Non-Income Taxes means any Taxes other than Income Taxes.

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Cash Taxes in respect of any fiscal period means amounts actually paid by the Companies in such fiscal period in respect of income and capital Taxes (whether relating to such fiscal period or any other fiscal period).

  • Base Tax Year means the property tax levy year used

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Consolidated Cash Taxes means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not