Common use of Correction of Tax Share Rent Clause in Contracts

Correction of Tax Share Rent. Landlord shall deliver to Tenant a report for the previous fiscal year (the “Tax Report”) by April 1 of each year, or as soon as reasonably possible thereafter, setting forth (a) the actual Taxes for the prior fiscal year, (b) the total amount of Tax Share Rent due from Tenant for the prior fiscal year, (c) the amount of Tax Share Rent paid by Tenant for the prior fiscal year, and (d) the total amount of Tax Share Rent then due from Tenant or due to Tenant if Tenant has overpaid. Within twenty (20) days after such delivery, Tenant shall pay to Landlord the amount due from Tenant minus the amount paid by Tenant. If the amount paid exceeds the amount due, Landlord shall refund the excess to Tenant when it delivers the Tax Report.

Correction of Tax Share Rent. Landlord shall deliver to Tenant a report for the previous fiscal year (the “"Tax Report”") by April 1 of each year, or as soon as reasonably possible thereafter, setting forth (a) the actual Taxes for the prior fiscal yearTaxes, (b) the total amount of Tax Share Rent due from Tenant for the prior fiscal yearTenant, and (c) the amount of Tax Share Rent paid by Tenant for the prior fiscal year, and (d) the total amount of Tax Share Rent then due from Tenant or due to Tenant if Tenant has overpaidTenant. Within twenty (20) days after such delivery,, Tenant shall pay to Landlord the amount due from Tenant minus the amount paid by Tenant. If the amount paid exceeds the amount due, Landlord shall refund apply any excess as a credit against Tenant's payments of Tax Share Rent next coming due; provided, however, that if the excess amount paid exceeds Tenant's payments for Tax Share Rent coming due for the next 60 days, the difference shall be refunded to Tenant when it delivers the Tax ReportTenant.