Real Estate Tax Definition. The term “Real Estate Taxes Allocable to the Building” shall mean the sum of all taxes, rates and assessments, general and special, levied or imposed by any governmental authority against the Building, including all taxes, rates and assessments, general and special, levied or imposed for public betterment, general or local improvements after the Rent Commencement Date, provided, however, that Sublessee’s obligation to contribute to special assessments or betterments shall be based on the amount that would be payable if such assessment or betterment were paid over the longest period permitted by law. The Real Estate Taxes Allocable to the Building shall include only those taxes and assessments levied and assessed against the Building. If the system of real estate taxation shall be altered or varied and any new tax shall be levied or imposed in the jurisdiction wherein the Premises are located after the Rent Commencement Date, then any such new tax or levy shall be included within the term “Real Estate Taxes Allocable to the Building.” “Real Estate Taxes Allocable to the Building” shall not include, and Sublessee shall not be responsible for paying or reimbursing Sublessor for, any income and earnings taxes, charges upon Rent payable by Sublessee under this Lease, profit and excess profit taxes, excise taxes, franchise taxes, interest and penalties charged for Sublessor’s failure timely to make payments which Sublessor is required to make hereunder, including without limitation, Real Estate Tax payments, estate, succession, inheritance, gift, franchise and transfer taxes and capital levies and any increases in taxes due to any transfer or sale of the Building or the Lot or Sublessor’s interest therein. If, at any time during the Base Term or Extension Term, any tax or excise on rents or other taxes, however described, are levied or assessed against Sublessor with respect to the rent hereunder in substitution for real estate taxes assessed or levied on the Building such tax or excise on rents shall be included in Real Estate Taxes Allocable to the Building. Sublessee shall have the right to contest the amount or validity, in whole or in part, of any Real Estate Taxes by appropriate proceedings conducted in good faith. Sublessor shall not be required to join in any such contest or proceedings unless the provisions of any law or regulation then in effect require that such proceedings be brought by or in the name of Sublessor, in which case Sublessor shall join ...
Real Estate Tax Definition. “Real Estate Taxes” means all real property taxes and assessments that become due and payable during the Term after the Rent Commencement Date and are assessed by any taxing governmental authority against the Tax Parcel, reflecting the maximum discount, if any, available by making early payment (regardless of whether early payment is actually made) and less any rebates, credits or abatements from such authorities which are granted or agreed upon with respect to the Tax Parcel; provided, however, that as regards any tax/assessment which under laws may be paid in installments, there will be included within the meaning of the term “Real Estate Taxes” with respect to any tax fiscal year only the current annual installment. Real Estate Taxes will not include any of the following: (i) any assessments for highway, street or traffic control improvements, sanitary or storm sewers, utilities, or for other on-site or off-site improvements or infrastructure of any nature whatsoever made in connection with the development or improvement of the Industrial Park: provided, however, that Real Estate Taxes may include those assessments for highway, street or traffic control improvements, sanitary or storm sewers, utilities, or other on-site or off-site improvements or infrastructure made after the Rent Commencement Date of this Lease as long as such assessments do not relate to the initial development of the Real Estate or the Industrial Park; (ii) any franchise, gift, estate, inheritance, conveyance, transfer, capital investment or other tax assessed against Landlord or Landlord’s heirs, successors or assigns; (iii) any income, excess profits or other tax, assessment, charge or levy on the Rent payable by Tenant under this Lease; (iv) any property tax applicable to any land or improvements not within the boundaries of the Tax Parcel; (v) any interest, fine or penalty for late payment or nonpayment by Landlord of any Real Estate Taxes; (vi) any increased assessments which result from a transfer in ownership of the Real Estate, the Industrial Park or any portion thereof between affiliated entities (but increased assessments which result from a transfer in ownership between unrelated parties are not excluded hereby); (vii) real estate taxes or assessments for any property not located within the Real Estate or real estate taxes and assessments that may be payable under the CCR (as defined in Section 27.13) ; (viii) any current or future tax, levy, assessments or charges under ...
