Tax Escalation definition

Tax Escalation means the tax escalation referred to in Section 4(b) of the Lease;
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Tax Escalation. LESSEE shall be responsible for payment of Additional Rent attributable to increases in the municipal real estate taxes on the Building and land on which it situated, (based on a FY 2001 base), as set forth in Section 4 of the Lease, at the payment intervals and on the terms and conditions set forth in said Section 4.
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Tax Escalation means the amount by which the Taxes imposed, assessed, levied, rated or charged against the Building in any Lease Year, exceed the amount of the Taxes imposed, assessed, levied, rated or charged against the Building for the Lease Year from September 1st, 1999, to August 31st, 2000.
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Examples of Tax Escalation in a sentence

  • Tenant shall pay to Landlord, as Additional Rent, Real Estate Tax Escalation (as defined below) on or before the thirtieth (30th) day following billing therefor by Landlord.

  • Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises, an Owner's Tax Statement with respect to each Tax Escalation Year, either prior to or during such Tax Escalation Year.

  • If Taxes payable in any Tax Escalation Year shall be in such amount as shall constitute an increase above Owner's Basic Tax Liability, the Fixed Rent for such Tax Escalation Year shall be increased by a sum equal to Tenant's Proportionate Share of any such increase in Taxes.

  • Tenant’s Tax Escalation shall be estimated in good faith by Landlord at the beginning of each Tax Fiscal Year, and thereafter be payable to Landlord in equal estimated monthly installments together with the payment of Base Rent, subject to readjustment when the actual amount of Taxes is determined.

  • Tenant’s Tax Escalation, Tenant’s Operating Cost Escalation, Water Service Charge and/or Tenant’s Electricity Costs and all other sums (other than Base Rent) payable by Tenant to Landlord under this Lease.

  • Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, nor shall it deprive Tenant of any credit to which it otherwise might be entitled with respect to such Tax Escalation Year pursuant to the provisions of Subsection D of this Section 23.03.

  • To the extent that the increase in either Taxes or Operating Expenses (the "Operating Expense or Tax Escalation", as applicable) is greater than the Estimated Escalation Increase upon which Tenant paid Rent during the calendar year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement.

  • If Tenant wishes to receive a refund of any of Tenant's Operating ----------- Cost Escalation, Insurance Cost Escalation, and/or Tenants Tax Escalation as a result of such audit, Tenant shall deliver to Landlord, no later than forty-five (45) days after the Audit Deadline, a notice demanding such a refund, together with a statement of the grounds for each such demand and the amount of each proposed refund.

  • LESSEE shall indemnify LESSOR against all loss of Annual Base Rent, Additional Operating Expense Rent, and Additional Tax Escalation Rent and all other payments which LESSOR may incur by reason of such termination during the remainder of the Lease Term, it being expressly understood that LESSOR shall use reasonable efforts to relet the Leased Premises and collect all rents from such reletting.

  • Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises or by regular mail to the same address as Fixed Rent bills are sent by Owner, an Owner's Tax Statement with respect to each Tax Escalation Year, either prior to or during such Tax Escalation Year.


More Definitions of Tax Escalation

Tax Escalation. As used in this Section 6, these words and terms shall have the following meanings:
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Related to Tax Escalation

  • 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.

  • Base Tax Year means the property tax levy year used

  • 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.

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

  • Base Year means the period set forth in Section 5 of the Summary.

  • Property Tax means the general property tax due and paid as set

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • RENT ADJUSTMENT Any amounts owed by Tenant for payment of Operating Expenses. The Rent Adjustments shall be determined and paid as provided in Article Four.

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

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Reassessment means additional moneys paid by the members to a joint self-insurance program.

  • Direct Expenses means “Operating Expenses” and “Tax Expenses.”

  • Cost Share means the member’s financial obligation for a covered service. Depending on the plan type, cost-share may include one or more of the following: deductible, copay, access fee, coinsurance, pharmacy deductible, and precertification charges.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Insurance Cost Increase shall not, however, include any premium increases resulting from the nature of the occupancy of any other lessee of the Building. If the parties insert a dollar amount in Paragraph 1.9, such amount shall be considered the "BASE PREMIUM." If a dollar amount has not been inserted in Paragraph 1.9 and if the Building has been previously occupied during the twelve (12) month period immediately preceding the Commencement Date, the "Base Premium" shall be the annual premium applicable to such twelve (12) month period. If the Building was not fully occupied during such twelve (12) month period, the "Base Premium" shall be the lowest annual premium reasonably obtainable for the Required Insurance as of the Commencement Date, assuming the most nominal use possible of the Building. In no event, however, shall Lessee be responsible for any portion of the premium cost attributable to liability insurance coverage in excess of $1,000,000 procured under Paragraph 8.2(b).

  • Operating Cost means the costs associated with operating a DCA funded property after it is placed in service.

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

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • State tax means the tax levied under this Act;

  • Consolidated Tax Expense means, for any period, the tax expense of Borrower and its Subsidiaries, for such period, determined on a consolidated basis in accordance with GAAP.

  • Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below.