Common use of Method of Payment of Taxes Clause in Contracts

Method of Payment of Taxes. The payments required to be made by the Tenant to the Landlord under the provisions of subsections 5.3(b) and 5.4(c) herein shall be estimated by the Landlord, and the Tenant shall pay to the Landlord in addition to the monthly payments of Base Rental hereinbefore reserved, one-twelfth (1/12th) of the estimated annual tax payments each month (which period of time may, at the Landlord’s option, be shortened to reflect the actual time period wherein such tax payments are due and payable by the Landlord to the taxing Authority) in each calendar year with an adjustment being made when the property tax xxxx respecting the Building is received by the Landlord for each year. The Tenant shall within sixty (60) days of being invoiced pay to the Landlord such additional sums as may be required in order that out of such monthly additional payments, the Landlord may pay the whole amount of the annual taxes as the installments thereof fall due; and if the monthly additional payments so paid by the Tenant to the Landlord exceed in total the Tenant’s Proportionate Share of the annual property tax xxxx with respect to the Building and Lands of which the Leased Premises form part, then the excess shall be adjusted by the Landlord in favour of the Tenant by applying such excess on account of the next ensuing rental payments due (following the issue of the yearly statement) and such next ensuing rental payments shall be reduced by such excess accordingly. The Landlord shall, upon written request of the Tenant, forward to the Tenant copies of all notices or tax bills relating to the imposition of property taxes or other charges required hereunder to be paid as to part or all thereof by the Tenant. To the extent that Taxes vary with the level of occupancy of the Building the Proportionate Share of Taxes shall be adjusted as if the Building were 100% occupied (hereinafter referred to as “Taxes Gross Up”). This Taxes Gross Up is for the sole purpose of equitably dividing Taxes among the tenant(s) actually occupying the Building and is to ensure that: (a) this Lease is on an absolutely net net basis to the Landlord; and (b) the Landlord is not subsidizing any tenant in the Building for costs that would otherwise be paid in full by the tenants if the Building was in fact 100% occupied. For further clarity the Landlord shall not profit from the Taxes Gross Up and any Taxes Gross Up shall be net revenue neutral with respect to cost recovery to the Landlord.

Method of Payment of Taxes. The Tax payments required to be made by the Tenant to the Landlord under the provisions of subsections 5.3(b) and 5.4(c5.3 (ii) herein shall be estimated by the Landlord, and the Tenant shall pay to the Landlord in addition to the monthly payments of Base Rental Rent hereinbefore reserved, one-twelfth (1/12th) ninth of the estimated annual tax payments each month (which period in the months of time mayJanuary to September, at the Landlord’s optionboth inclusive, be shortened to reflect the actual time period wherein such tax payments are due and payable by the Landlord to the taxing Authority) in each calendar year with an adjustment being made when the property tax xxxx respecting the Building is received by the Landlord for each year. The Tenant shall within sixty (60) days of being invoiced pay to the Landlord such additional sums as may be required in order that out of such monthly additional payments, the Landlord may pay the whole amount of the annual taxes as the installments thereof fall due; and if the monthly additional payments so paid by the Tenant to the Landlord exceed in total the Tenant’s 's Proportionate Share of the annual property tax xxxx with respect to the Building and Lands of which the Leased Premises form part, then the excess shall be adjusted by the Landlord in favour of the Tenant by applying such excess on account of the next ensuing rental payments due (following the issue of the yearly statement) and such next ensuing rental payments shall be reduced by such excess accordingly. The Landlord shall, upon written request of the Tenant, shall forward to the Tenant copies of all notices or tax bills relating to the imposition of property taxes or other charges required hereunder to be paid as to part or all thereof by the Tenant. To In the extent event that Taxes vary with the level of occupancy of the Building the Proportionate Share of Taxes shall be adjusted as if the Building were 100% occupied (hereinafter referred to as “Taxes Gross Up”). This Taxes Gross Up is for the sole purpose of equitably dividing Taxes among the tenant(s) actually occupying the Building and is to ensure that: (a) this Lease is on an absolutely net net basis to the Landlord; and (b) the Landlord is not subsidizing any tenant in the Building for costs that would otherwise be paid in full unable to obtain or determine a separate allocation of taxes payable by the tenants if the Building was in fact 100% occupied. For further clarity Tenant under this Lease, the Landlord shall not profit from have the Taxes Gross Up and any Taxes Gross Up right to make an allocation, but shall be net revenue neutral with respect obligated to cost recovery to the Landlordact reasonably and not arbitrarily.

Method of Payment of Taxes. The Tax payments required to be made by the Tenant to the Landlord under the provisions of subsections 5.3(b) and 5.4(c5.3 (ii) herein shall be estimated by the Landlord, and the Tenant shall pay to the Landlord in addition to the monthly payments of Base Rental hereinbefore reserved, one-twelfth (1/12th) ninth of the estimated annual tax payments each month (which period in the months of time mayJanuary to September, at the Landlord’s optionboth inclusive, be shortened to reflect the actual time period wherein such tax payments are due and payable by the Landlord to the taxing Authority) in each calendar year with an adjustment being made when the property tax xxxx bxxx respecting the Building is received by the Landlord for each year. The Tenant shall within sixty (60) days of being invoiced pay to the Landlord such additional sums as may be required in order that out of such monthly additional payments, the Landlord may pay the whole amount of the annual taxes as the installments thereof fall due; and if the monthly additional payments so paid by the Tenant to the Landlord exceed in total the Tenant’s 's Proportionate Share of the annual property tax xxxx bxxx with respect to the Building and Lands of which the Leased Premises form part, then the excess shall be adjusted by the Landlord in favour of the Tenant by applying such excess on account of the next ensuing rental payments due (following the issue of the yearly statement) and such next ensuing rental payments shall be reduced by such excess accordingly. The Landlord shall, upon written request of the Tenant, shall forward to the Tenant copies of all notices or tax bills relating to the imposition of property taxes or other charges required hereunder to be paid as to part or all thereof by the Tenant. To In the extent event that Taxes vary with the level of occupancy of the Building the Proportionate Share of Taxes shall be adjusted as if the Building were 100% occupied (hereinafter referred to as “Taxes Gross Up”). This Taxes Gross Up is for the sole purpose of equitably dividing Taxes among the tenant(s) actually occupying the Building and is to ensure that: (a) this Lease is on an absolutely net net basis to the Landlord; and (b) the Landlord is not subsidizing any tenant in the Building for costs that would otherwise be paid in full unable to obtain or determine a separate allocation of taxes payable by the tenants if the Building was in fact 100% occupied. For further clarity Tenant under this Lease, the Landlord shall not profit from have the Taxes Gross Up and any Taxes Gross Up right to make an allocation, but shall be net revenue neutral with respect obligated to cost recovery to the Landlordact reasonably and not arbitrarily.

Method of Payment of Taxes. The Tax payments required to be made by the Tenant to the Landlord under the provisions of subsections 5.3(b) and 5.4(c5.3 (ii) herein shall be estimated by the Landlord, and the Tenant shall pay to the Landlord in addition to the monthly payments of Base Rental Rent hereinbefore reserved, one-twelfth (1/12th) ninth of the estimated annual tax payments each month (which period in the months of time mayJanuary to September, at the Landlord’s optionboth inclusive, be shortened to reflect the actual time period wherein such tax payments are due and payable by the Landlord to the taxing Authority) in each calendar year with an adjustment being made when the property tax xxxx respecting the Building is received by the Landlord for each year. The Tenant shall within sixty (60) days of being invoiced pay to the Landlord such additional sums as may be required in order that out of such monthly additional payments, the Landlord may pay the whole amount of the annual taxes as the installments instalments thereof fall due; and if the monthly additional payments so paid by the Tenant to the Landlord exceed in total the Tenant’s 's Proportionate Share of the annual property tax xxxx with respect to the Building and Lands of which the Leased Premises form part, then the excess shall be adjusted by the Landlord in favour of the Tenant by applying such excess on account of the next ensuing rental payments due (following the issue of the yearly statement) and such next ensuing rental payments shall be reduced by such excess accordingly. The Landlord shall, upon written request of the Tenant, shall forward to the Tenant copies of all notices or tax bills relating to the imposition of property taxes or other charges required hereunder to be paid as to part or all thereof by the Tenant. To In the extent event that Taxes vary with the level of occupancy of the Building the Proportionate Share of Taxes shall be adjusted as if the Building were 100% occupied (hereinafter referred to as “Taxes Gross Up”). This Taxes Gross Up is for the sole purpose of equitably dividing Taxes among the tenant(s) actually occupying the Building and is to ensure that: (a) this Lease is on an absolutely net net basis to the Landlord; and (b) the Landlord is not subsidizing any tenant in the Building for costs that would otherwise be paid in full unable to obtain or determine a separate allocation of taxes payable by the tenants if the Building was in fact 100% occupied. For further clarity Tenant under this Lease, the Landlord shall not profit from have the Taxes Gross Up and any Taxes Gross Up right to make an allocation, but shall be net revenue neutral with respect obligated to cost recovery to the Landlordact reasonably and not arbitrarily.

Method of Payment of Taxes. The Tax payments required to be made by the Tenant to the Landlord under the provisions of subsections 5.3(b) and 5.4(c5.3 (ii) herein shall be estimated by the Landlord, and the Tenant shall pay to the Landlord in addition to the monthly payments of Base Rental hereinbefore reserved, one-twelfth (1/12th) ninth of the estimated annual tax payments each month (which period in the months of time mayJanuary to September, at the Landlord’s optionboth inclusive, be shortened to reflect the actual time period wherein such tax payments are due and payable by the Landlord to the taxing Authority) in each calendar year with an adjustment being made when the property tax xxxx bill respecting the Building is received receivex by the Landlord for each year. The Tenant shall within sixty (60) days of being invoiced pay to the Landlord such additional sums as may be required in order that out of such monthly additional payments, the Landlord may pay the whole amount of the annual taxes payable by the Tenant as the installments thereof fall due; and if the monthly additional payments so paid by the Tenant to the Landlord exceed in total the Tenant’s 's Proportionate Share of the annual property tax xxxx bill with respect to the Building and Lands Lxxxx of which the Leased Premises form part, then the excess shall be adjusted by the Landlord in favour of the Tenant by applying such excess on account of the next ensuing rental payments due (following the issue of the yearly statement) and such next ensuing rental payments shall be reduced by such excess accordingly, unless it is the last year of the Term, in which case, such excess shall be paid by the Landlord to the Tenant which obligation to pay shall survive any termination of this Lease or expiration of the Term. The Landlord shall, upon written request of the Tenant, shall forward to the Tenant copies of all notices or tax bills relating to the imposition of property taxes or other charges required hereunder to be paid as to part or all thereof by the Tenant. To In the extent event that Taxes vary with the level of occupancy of the Building the Proportionate Share of Taxes shall be adjusted as if the Building were 100% occupied (hereinafter referred to as “Taxes Gross Up”). This Taxes Gross Up is for the sole purpose of equitably dividing Taxes among the tenant(s) actually occupying the Building and is to ensure that: (a) this Lease is on an absolutely net net basis to the Landlord; and (b) the Landlord is not subsidizing any tenant in the Building for costs that would otherwise be paid in full unable to obtain or determine a separate allocation of taxes payable by the tenants if the Building was in fact 100% occupied. For further clarity Tenant under this Lease, the Landlord shall not profit from have the Taxes Gross Up and any Taxes Gross Up right to make an allocation, but shall be net revenue neutral with respect obligated to cost recovery to the Landlordact reasonably and not arbitrarily.