Tax Impound definition

Tax Impound has the meaning assigned to such term in Section 3.5.
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Tax Impound has the meaning provided in Section 2.15(a).
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Tax Impound means the impound account Borrower establishes with Lender for the payment of all Taxes on the Property as required under this Agreement.
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Examples of Tax Impound in a sentence

  • In connection with any Protest that Tenant is diligently pursuing regarding Taxes, subject to Landlord’s obligation to make payments from the Tax Impound pursuant to Section 5.2, Tenant shall pay the Taxes that are the subject of such Protest before the imposition of any Penalty.

  • The Tax Impound shall not be held by Landlord in trust or as an agent of Tenant, but rather shall be applied by Landlord to the Taxes.

  • The Tax Impound shall be calculated on the basis of the most recent available levy applied to the most recent available assessment of Real Property Taxes.

  • The amounts held by Landlord in the Tax Impound shall be applied by Landlord directly to the payment of the Taxes in a timely fashion and prior to the imposition of any Penalty, and, except if resulting from insufficient funds in the Tax Impound, if any Penalty results from Landlord’s failure to timely make any such payment, such Penalty shall be paid by Landlord.

  • If at any time within thirty (30) days prior to the due date the Tax Impound shall be insufficient for the payment of the obligation in full, Tenant shall within ten (10) days after demand deposit the deficiency with Landlord.

  • The Tax Impound shall earn interest on an annual basis based upon the average interest earned during such year by Landlord on its cash deposits.

  • The obligation of Borrowers to pay the Taxes, as set forth in the Loan Documents, is not affected or modified by the provision of this paragraph; provided, however, that Borrowers shall not be in default under the Loan for failure to pay Taxes if and to the extent there are sufficient funds on deposit in the Tax Impound to timely pay such Taxes.

  • The obligation of Borrower to pay the Taxes, as set forth in the Loan Documents, is not affected or modified by the provision of this paragraph; provided, however, that Borrower shall not be in default under the Loan for failure to pay Taxes if and to the extent there are sufficient funds on deposit in the Tax Impound to timely pay such Taxes.

  • If Landlord transfers this Master Lease, it shall transfer the Tax Impound, and all interest earned thereon, to the transferee, and Landlord shall thereafter have no liability of any kind with respect thereto.

  • The obligation of Borrowers to pay the Real Estate Taxes, as set forth in the Credit Documents, is not affected or modified by the provision of this paragraph; provided, however, that Borrowers shall not be in default under the Loan for failure to pay Real Estate Taxes if and to the extent there are sufficient funds on deposit in the Tax Impound to timely pay such Real Estate Taxes.

Related to Tax Impound

  • Percentage Rent As defined in Subsection 3.1(b).

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • 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.

  • Individual Charges means those charges incurred by individual Attendees including, but not limited to, restaurant charges other than the allowable group meals specified herein, any charge for alcoholic beverages, telephone expenses, sleeping room rental deposits, upgrades, Cancellation Fee and/or other applicable service or cancellation charges incurred by an Attendee, and associated taxes, surcharges, and/or other incidentals.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Proration Month means the month for which capacity is to be allocated under Item 7.

  • Rental Charges means the charges payable for renting the Vehicle from Us together with GST and any other taxes or levies which are all fully set out in the Rental Agreement.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

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

  • Additional Rental has the meaning set forth in Section 4.03.

  • Property tax increment means the amount obtained by:

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located.

  • Utility Charges means water, sewer, electricity, gas and other utility charges, if any, applicable to the Real Property or the Leased Real Property;

  • Real Property Taxes shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring during the term of this Lease, including but not limited to, a change in the ownership of the Premises.

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

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

  • Property Taxes means all real property Taxes, personal property Taxes and similar ad valorem Taxes.

  • 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.

  • 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.

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

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.