Common use of Property Tax Clause in Contracts

Property Tax. In the event that the Lessor shall be required by law to assess and to levy any real property taxes against the Premises or any portion thereof, the Lessee shall have the option of (1) paying said taxes in addition to the payment of those sums set forth in this Lease and continuing in possession of the Premises under this Lease or (2) it may declare this Lease void and terminate the same.

Appears in 2 contracts

Samples: Lease, Lease

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Property Tax. In the event that the Lessor shall be required by law to assess and to levy any real property taxes against the Premises or any portion thereof, the Lessee shall have the option of (1) paying said taxes in addition to the payment of those sums set forth in this Lease section III and continuing in possession of the Premises under this Lease or (2) it may declare this Lease void and terminate the same.

Appears in 1 contract

Samples: Lease

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Property Tax. In the event that the Lessor shall be required by law to assess and to levy any real property taxes against the Premises or any portion thereof, the Lessee shall have the option of (1) paying said taxes in addition to the payment of those sums set forth in this Lease and continuing in possession of the Premises under Deleted: section III this Lease or (2) it may declare this Lease void and terminate the same.

Appears in 1 contract

Samples: Lease

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