Examples of Property Tax Base in a sentence
Tenant's proportionate share of Property Taxes shall equal the product of the rentable floor area of the Premises multiplied by the difference of (i) Property Taxes per rentable square foot less (ii) the Property Tax Base set forth in Item 7 of the Basic Lease Provisions.
After the close of each tax year during the Lease Term, Landlord shall deliver to Tenant a written statement setting forth (1) the actual Property Taxes Allocable to the Premises for the preceding tax year, (2) the difference between the amount referred to in clause (1) and the Property Tax Base Amount and (3) the differential between the amount referred to in clause (2) and the sum of the tentative monthly payments toward such amount made by Tenant.
Tenant’s proportionate share of Property Taxes shall equal the product of the rentable floor area of the Premises multiplied by the difference of (i) Property Taxes per rentable square foot less (ii) the Property Tax Base set forth in Item 7 of the Basic Lease Provisions.
In addition to the payments required by the previous subparagraphs of this paragraph, Tenant shall pay as Additional Rent to Landlord one-twelfth (1/12) of the amount, if any, by which (a) Landlord’s estimate of the Property Taxes Allocable to the Premises for the current tax year exceeds the Property Tax Base Amount.
In addition to the payments required by the previous subparagraphs of this paragraph, commencing on the first anniversary of the Commencement Date, Tenant shall pay as Additional Rent to Landlord one-twelfth (1/12) of the amount, if any, by which (a) estimate of the Property Taxes Allocable to the Premises for the current Year exceeds the Property Tax Base Amount.
The product of Tenant’s Pro Rata Share of Taxes times the difference between the Property Taxes minus the Property Tax Base Amount.
The Additional Rent shall equal the product of (a) Tenant’s Pro Rata Share of Operating Costs multiplied by the difference between Operating Costs minus the Operating Cost Base Amount; (b) Tenant’s Pro Rata Share of Property Taxes multiplied by the difference between Property Taxes minus the Property Tax Base Amount; and (c) Tenant’s Pro Rata Share of Insurance Costs multiplied by the difference between Insurance Costs minus the Insurance Base Amount.
The Operating Costs Reimbursement shall equal (1) the product of (a) Tenant’s Pro Rata Share of Operating Expenses multiplied by (b) the difference between Operating Costs minus the Operating Cost Base Amount, plus (2) the product of (a) Tenant’s Pro Rata Share of Taxes multiplied by (b) the difference between the Property Taxes minus the Property Tax Base Amount.
In addition to the payments required by the previous subparagraphs of this paragraph, Tenant shall pay as Additional Rent to Landlord one-twelfth (1/12) of the amount, if any, by which (a) Landlord's estimate of the Property Taxes Allocable to the Premises for the current tax year exceeds the Property Tax Base Amount.
All of the terms, covenants, conditions, provisions and agreements in the Lease contained herein shall be applicable to the Extension Term except (i) Annual Base Rent for each such Extension Term shall be increased pursuant to provisions of Section 4.2 hereof, and (ii) the Operating Cost Base Year and the Property Tax Base Year for each such Extension Term shall be the Calendar Year and Property Tax Year, respectively, in which such Extension Term commences.