ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Redwood City as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against the Leased Premises, Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited. For example: if (i) the property is subject to an annual assessment of $1,000.00, and (ii) a surplus of $200.00 is credited towards the current year's assessment which reduces the assessment amount shown on the property tax bill xxxm $1,000.00 to $800.00, Tenant shall, upon receipt of notice from Landlord, pay to Landlord said $200.00 credit as Additional Rent.
ASSESSMENT CREDITS. The demised property herein is subject to a special assessment levied by the City of Milpitas in Improvement District No. 12. As a part of said special assessment proceedings, additional bonds were sold and assessments levied to provide for construction contingencies and reserve funds. Interest will be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against the demised premises, Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited.
ASSESSMENT CREDITS. The demised property herein may be subject to a ------------------ special assessment levied by the City of Santa Xxxxx as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such surpluses may be credited on assessments otherwise due against the Leased Premises. Tenant shall pay to Landlord, as additional rent if, and at the time of any such credit of surpluses, an amount equal to all such surpluses so credited.
ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Sunnyvale as part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve funds. Interest shall be earned on such funds created for contingencies and on reserve funds which will be credited for the benefit of said assessment district. To the extent surpluses are created in said district through unused contingency funds, interest earnings or reserve funds, such surpluses shall be deemed the property of Landlord. Notwithstanding that such
ASSESSMENT CREDITS. Notwithstanding the provisions of section 8.2, the Optionee shall ensure that there are sufficient assessment work credits relating to the Property to maintain them in good standing for a period of at least two years from and after the Effective Date by way of proper application of qualified expenditures previously made in respect of the Property by or on behalf of the Optionor. Forthwith after the recording of such assessment work credits, the Optionee shall provide written proof of same to the (Optionor).
ASSESSMENT CREDITS. In the event that Lodestar exercises its rights to terminate this Agreement and surrenders all or any of the Mineral Dispositions to Owner in accordance with Sections 8.01 or 8.02, Lodestar shall ensure that there are sufficient assessment credits relating to the surrendered Mineral Dispositions to maintain them in good standing for a period of at least two years from the date that Lodestar gives notice to Owner of such termination and surrender.
ASSESSMENT CREDITS. In the event that Sage exercises its rights to terminate this Agreement and surrenders all or any of the Mineral Properties to Owner in accordance with Sections 8.01 or 8.02, Sage shall ensure that there are sufficient assessment credits relating to the surrendered Mineral Properties to maintain them in good standing for a period of at least one year from the date that Sage gives notice to Owner of such termination and surrender and insure that the lease rent and tax payments are current.
ASSESSMENT CREDITS. The demised property herein may be subject to a special assessment levied by the City of Santa Clarx xx part of an Improvement District. As a part of said special assessment proceedings (if any), additional bonds were or may be sold and assessments were or may be levied to provide for construction contingencies and reserve
ASSESSMENT CREDITS. [INTENTIONALLY OMITTED].
