Tax Rent definition

Tax Rent. As provided in Article 5(B).

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Tax Rent means the Taxes for the applicable fiscal year of -------- this Lease, paid semi-annually as set forth in Section 2.B(l) below. A definition of Taxes and the method for billing and payment of Tax Rent are set forth in this Article 2.

Tax Rent which shall include real estate taxes, assessments, sales or use taxes, sewer entrance fees, and other public charges on or relating to the Property including, without limitation, the Building other improvements, land and personalty, (together called "Taxes"). Tenant also shall pay before the due date all taxes attributable to its signs or personal property, and all Tax increases resulting from Tenant's Improvements to the Premises, if any. Landlord shall have sole control of all tax abatement proceedings, and the pendency of abatement proceedings or Landlord's.

Examples of Tax Rent in a sentence

• LESSEE shall pay its Allocable Percentage of Additional Real Estate Tax Rent to LESSOR based on a prospective annual schedule prepared by the LESSOR, in monthly increments based on said schedule, with each monthly payment of Annual Base Rent due hereunder.

• In the event of any excess, it shall be credited and applied to future Tax Rent payments, except that any excess in the last year of the Term shall be refunded at the end of the Term.

• Within one hundred twenty (120) days of the close of each calendar year, LESSOR shall adjust the prior year’s schedule of Additional Real Estate Tax Rent to account for actual and properly accrued costs, expenses, and liabilities, and shall issue LESSEE a refund or deficiency statement for that year, as appropriate.

• Within one hundred twenty (120) days of the close of each tax year, LESSOR shall adjust the prior year’s schedule of Additional Real Estate Tax Rent to account for actual and properly accrued costs, expenses, and liabilities, and shall issue LESSEE a refund or deficiency statement for that year, as appropriate.

• Tenant shall pay the balance of its Tax Rent within twenty (20) days after receipt from Landlord of a written statement setting forth the taxes for which Landlord has received a Tax ▇▇▇▇, Tenant's share of taxes, and Tenant's payments theretofore made on account of such Tax Rent.

• Tax Rent shall be paid quarterly at least three (3) weeks prior to the date when any installment for Taxes are due.

• Following expiration or termination of this Lease, Tenant shall pay any Tax Rent Adjustments due to Landlord within fifteen (15) days after the date of each Landlord's Statement sent to Tenant.

• However, Tenant is responsible for payment (or is eligible for a credit, as the case may be) of any difference between the old Estimated Tax Rent paid for any period of the new Tax Year and the new Estimated Tax Rent payable for that same period ("Retroactive Adjustment").

• If any aspect of the Net Income Tax Rent Allocation and Transaction Treatment is disputed by any Taxing Authority, the Party receiving notice of such dispute shall promptly notify the other Parties of such dispute.

• Any rebates due LESSEE (not contested by LESSOR) shall, in LESSOR’s reasonable discretion, be credited toward current monthly Additional Real Estate Tax Rent or paid to LESSEE within thirty (30) days.

More Definitions of Tax Rent

Tax Rent. (as defined in the Main Lease) in excess of the annual amount payable therefor by Sub-Sublessor for the 1997/1998 fiscal tax year, and (b) "Operating Expense Rent" (as defined in the Main Lease) in excess of the annual amount payable therefor by Sub-Sublessor for the calendar year 1998. Sub-Subtenant shall not be obligated to pay any Tax Rent due to a sale or transfer of the Building. The 1998 base year over which all increases shall be determined shall include all actual operating expenses and taxes, adjusted to reflect the Building being ninety-five percent (95%) occupied. In addition, all other sums (excluding Monthly Basic Rent) payable by Sub-Subtenant hereunder shall be deemed to be Additional Rent.

Tax Rent. (as defined in the Main Lease) in excess of the annual amount payable therefor by Sublessor for the calendar year 1996, and (b) "Operating Expense Rent" (as defined in the Main Lease) in excess of the annual amount payable therefor by Sublessor for the calendar year 1996. Subtenant shall not be obligated to pay any Tax Rent due to increases in Property Taxes of more than 102% per annum (compounded) over the Property Taxes for the 1996 calendar year.

Tax Rent which shall include real estate taxes, assessments, sales or use taxes, sewer entrance fees, and other public charges on or relating to the Park and the Property including, without limitation, the Building, other improvements, land and personalty, taxes on rentals, and taxes in addition to or in lieu of existing taxes, foreseen and unforeseen, ordinary and extraordinary, and all costs related to attempts to secure a refund or abatement (together called "Taxes"). Tenant also 8 shall pay before the due date all taxes attributable to Tenant's signs or personal property, and all Tax increases resulting from the Leasehold Improvements or Tenant's Improvements to the Premises. Landlord's income, estate, succession, inheritance and transfer taxes shall be excluded from "Taxes"; provided, however, that if at any time during the Term the present system of ad valorem taxation of real property shall be changed so that as a substitute for, or in addition to, the whole or any part of the ad valorem tax on real property, there shall be assessed on Landlord any tax including a capital levy or other tax on the gross rents received with respect to the Property, or a federal, state, county, municipal, or other local income, franchise, excise or similar tax, assessment, levy or charge (distinct from any now in effect in the jurisdiction in which the Property is located), and whether or not now customary or in the contemplation of the parties, measured by or based, in whole or in part, upon any such gross rents, then any and all of such taxes, assessments, levies or charges, to the extent so measured or based, shall be deemed to be included within the term "Taxes". Landlord shall have sole control of all tax abatement proceedings, and the pendency of abatement proceedings or Land▇▇▇▇'▇ withholding of tax payments shall not affect Tenant's obligations to pay Taxes as provided herein. The amount of any abatement proceeds with respect to any year on account of which Tenant shall have made a payment of Tax Rent shall, after deduction therefrom of any expenses reasonably incurred in their collection and not included in Taxes for said year, be allocated to Tenant in the same proportion as was used to determine Tenant's payment of such Tax Rent and Landlord shall at its option either pay such amount to Tenant or credit such amount against monthly installments of Base Rent and Additional Rent next thereafter ensuing, except with respect to such abatement proceeds as are received afte...

Tax Rent the meaning provided in Section 6.1 hereof. Tenant: the meaning provided in the Preamble. Tenant Additions: any improvements or additions to the Premises that are included in the Tenant Plans and are paid for in full or in part by Landlord.