Examples of Monthly Tax Payment in a sentence
Tenant’s first Monthly Tax Payment after receipt of Landlord’s Tax Statement shall be accompanied by the payment of an amount equal to the product of the number of full months, if any, within the Lease Year which have elapsed prior to such first Monthly Tax Payment, times the Monthly Tax Payment; minus any Additional Rent already paid by Tenant on account of its obligation under Section 4.1 for such Lease Year.
Tenant’s first Monthly Tax Payment after receipt of Landlord’s Tax Statement shall be accompanied by the payment of an amount equal to the product of the number of full months, if any, within the Lease Year which have elapsed prior to such first Monthly Tax Payment, times the Monthly Tax Payment; minus any Additional Rent already paid by Tenant on account of its obligation under Section 4.1 for such Lease Year (the “Tax Differential”).
Notwithstanding the foregoing, if at any time during any lease year Landlord shall determine that the Monthly Tax Payment will be insufficient to pay the Taxes as they come due, Landlord may, at its election, require Tenant to pay the amount of the deficiency in one payment or increase the Monthly Tax Payment.
The amount of each Monthly Tax Payment shall be determined by reference to the Monthly Tax Payment for the corresponding calendar month of the previous Lease Year, as adjusted to reflect any reassessment, tax increase or change of due date therefor of which Tenant has received Notice from Landlord at least twenty (20) days prior to the date on which such Monthly Tax Payment is due and payable.
Sublessee's Share of such Tenant's Monthly Tax Payment shall be prorated for any period for which such taxes were paid which is applicable to any period occurring prior to the Commencement Date or following the Expiration Date.
The Monthly Tax Payment for January of each year during the Term of this Lease shall be due upon the later to occur of January 1 of the given year or ten (10) calendar days following Lessee's receipt of Lessor's Tax Payment Notice.
Thereafter, if Sublessee exercises its options to extend the initial term of this Sublease, the Additional Rent may be adjusted to reflect adjustments in Tenant's Monthly Payment and Tenant's Monthly Tax Payment under the Master Lease; provided, however, in no event shall the Additional Rent payable by Sublessee in any calendar year exceed 106% of the Additional Rent payable by Sublessee during the immediately preceding calendar year.
Tenant's first Monthly Tax Payment after receipt of Landlord's Tax Statement shall be accompanied by the payment of an amount equal to the product of the number of full months, if any, within the Tax Billing Period which have elapsed prior to such first Monthly Tax Payment, times the Monthly Tax Payment; minus any Additional Rent already paid by Tenant on account of its obligation under this Article 6 for such Tax Billing Period.
Lessee’s first Monthly Expense Payment and/or Monthly Tax Payment after receipt of an Expense Statement or a Tax Statement shall be accompanied by Lessee’s payment of the difference between Lessee’s Monthly Expense Payments or Monthly Tax Payments, as applicable, actually paid to date by Lessee during the applicable Lease Year, and the amount of Lessee’s Share of Operating Expenses or Taxes, as applicable, shown on the new Statement applicable to the current Lease Year.
Tenant’s first Monthly Tax Payment after receipt of Landlord’s Tax Statement shall be accompanied by the payment of an amount equal to the product of the number of full months, if any, within the calendar year which have elapsed prior to such first Monthly Tax Payment, times the Monthly Tax Payment; minus any Additional Rent already paid by Tenant on account of its obligation under Section 4.1 for such calendar year.