Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis. Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive. Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17 (a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs. Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant. Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's ’s written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's Tenants liability for taxes for the last partial lease year shall be prorated on an annual basis. Tenant shall not be required to pay any tax or assessment or any increase therein imposed on land and improvements other than the demised premises, the Parking and Accommodation Areas and any improvements thereon. As to any special assessment that goes to bond or is bonded, Tenant shall be required to reimburse Landlord the portion thereof applicable to the demised premises which is charged on the Real Property Tax ▇▇▇▇ for any period applicable during the demised term. In addition, Tenant shall not be responsible for any increase in real property taxes due to transfers of the demised premises or ownership interests therein between Landlord and its affiliates, principals, shareholders, partners or investors or entities controlling, controlled by or under common control with Landlord or its affiliates, principals, shareholders, partners or investors.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's ’s liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's ’s work sheets or such other information as may be reasonably available. Landlord's ’s reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's ’s said personal property shall be assessed with Landlord's ’s real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's ’s property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with charged parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of government requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costscosts (subject to the provisions of Section 11.5 with respect to a capital improvement therefor); and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall on account of governmental requirements require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "“real property taxes" ” resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all All real property ------------ taxesand personal property ad valorem and other similar Taxes, assessments and ongoing sewer fees applicable including payments in-lieu-of property Taxes, assessed or levied with respect to the demised premises during Assets for a taxable period which includes (but does not end on) the demised term. Such taxes, assessments and fees Closing Date shall be prorated to lease years for purpose between Buyers and Sellers based on the number of making this computationdays of such taxable period before the Closing Date (the “Pre-Closing Tax Period”) and the number of days in such taxable period on and after the Closing Date (the “Post-Closing Tax Period”). Such payment Sellers shall be made by Tenant liable for the later of: proportionate amount of such prorated Taxes that is attributable to the Pre-Closing Tax Period, and Buyers shall be liable for the proportionate amount of such prorated Taxes that is attributable to the Post-Closing Tax Period. At Closing, the Purchase Price shall be (i) increased by the amount, if any, of any such Taxes prepaid by Sellers with respect to a Post-Closing Tax Period, or (ii) decreased by the amount, if any, of any such Taxes relating to a Pre-Closing Tax Period which Buyers will be obligated to pay after Closing. Buyers and Sellers shall cooperate in good faith to agree upon the amount of any such Purchase Price adjustments by not later than ten (10) days prior to the Closing Date. Buyers shall file all required reports and returns incidental to such Taxes that become due and payable after Closing and shall pay such Taxes on or before the due date therefor. To the extent that the amount of any such Taxes paid by Buyers with respect to any Pre-Closing Tax Period exceeds the Purchase Price adjustment therefor, Sellers shall reimburse Buyers for the difference within thirty (30) days of Seller’s receipt of Buyers’ invoice therefor, accompanied by reasonable supporting documentation (including copies of relevant Tax bills); provided, however, under no circumstances shall Sellers be required to pay (i) any amount greater than the prorated amount they would have had to pay in respect of the Pre-Closing Tax Period had they not conveyed the Assets to Buyers, or (ii) any penalties or interest resulting from the acts or omissions of Buyers or any of their agents or representatives. Sellers and Buyers shall reasonably cooperate with each other after Closing with respect to any property Tax assessment or valuation (or protest in connection therewith) by any Governmental Authority with respect to the Tax periods in which the Closing Date occurs. If either party receives a refund of any property Taxes paid by the other, the party receiving such refund, whether received in cash, or as a credit against another state and/or local Tax, shall, within thirty (30) days after the receipt of Landlord's written statement setting forth the amount of such computation thereofrefund, or (ii) by the thirtieth (30th) day prior remit it to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basisparty who paid.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Asset Purchase Agreement (PBF Energy Inc.), Asset Purchase Agreement (PBF Energy Inc.)
Real Property Taxes. Section 17.110.1. Tenant PAYMENT OF LESSEE’S PROPORTIONATE SHARE OF TAXES. Lessor shall reimburse Landlord for pay all real property ------------ taxes, assessments and ongoing sewer fees taxes applicable to the demised premises during Premises; provided, however, that Lessee shall pay, as additional rent and in addition to all other charges due hereunder, Lessee’s proportionate share (as defined in Section 12) of real property taxes applicable to the demised termProject (the “Real Property Tax Amount”). Such taxesLessee shall pay Lessor in advance its monthly estimated proportionate share of the Real Property Tax Amount, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: together with all applicable rental taxes due thereon, within ten (i) within thirty (3010) days after receipt of Landlord's written statement an invoice from Lessor setting forth the amount Lessor’s estimate of such computation thereofamount. Within ninety (90) days following the end of each calendar year during the Term or as soon thereafter as is reasonably possible, or (ii) by the thirtieth (30th) day prior Lessor shall furnish Lessee with a statement of all real property taxes relating to the delinquency date Project for the previous calendar year indicating the computation of Lessee’s proportionate share of the Real Property Tax Amount for such taxcalendar year and the payments made by Lessee during such calendar year. If Lessee’s aggregate estimated monthly payments actually paid to Lessor for the calendar year are greater than Lessee’s proportionate share of the Real Property Tax Amount for such calendar year, assessment Lessor shall promptly pay the excess to Lessee or feeshall apply the excess to any past due amounts owing from Lessee to Lessor; if the payments made are less than Lessee’s proportionate share, Lessee shall pay the difference to Lessor within ten (10) days of its receipt of such statement. If the demised term shall Term does not commence or expire concurrently with the commencement or expiration date of the fiscal tax year, Tenant's Lessee’s liability for real property taxes for the last such partial lease year shall be prorated on an annual basis.
Section 17.210.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably availableDEFINITION OF “REAL PROPERTY TAX”. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for As used herein, the ------------ Tenant term “real property tax” shall on demand reimburse Landlord for include any surchargesform of assessment, feeslevy, and any similar charges required to be paid or tax (other than inheritance or estate taxes), imposed by any instrumentality of local, state authority having the direct or federal government in connection with parking in the parking areaindirect power to tax, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areasany city, facilities and improvements maintained in this Article either (i) required by any instrumentality of localcounty, state state, or federal government, or (ii) installed by Landlord to facilitate payment any school, agricultural, lighting, drainage, or other improvement district thereof, as against any legal or equitable interest of a parking charge by the general public for parking Lessor in the parking areaPremises, or both, the Project and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any of which the Premises and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or TenantProject are a part.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc), Standard Commercial Industrial Multi Tenant Triple Net Lease (HTG Molecular Diagnostics, Inc)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for agrees to pay its pro rata share of all general and special real property ------------ taxes, taxes and assessments and ongoing sewer fees governmental levies and charges of any and every kind, nature and sort whatsoever, ordinary and extraordinary, foreseen and unforeseen, and substitutes therefor or supplements thereto, including the cost to Landlord of any appeals or contests of any taxes or assessments, except any inheritance, estate, succession, transfer or gift tax imposed on Landlord or any income tax specifically payable by Landlord as a separate tax-paying entity without regard to Landlord’s income source as arising from or out of the Entire Premises (collectively “Real Property Taxes”), which may be levied or assessed by any lawful authority against the Entire Premises applicable to the demised premises during period from the demised termcommencement of the Term until the expiration or sooner termination of this Lease. Such taxes, assessments and fees Tenant’s pro rata share shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior apportioned according to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date floor area of the fiscal tax yearPremises as it relates to the total leasable floor area of the Building or buildings located within the Entire Premises (including the Premises). Notwithstanding the foregoing provisions, Tenant's liability for taxes for if the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises Real Property Taxes are not separately assessedlevied and assessed against the Entire Premises by means of a single tax b▇▇▇ (i.e., ------------ if the Entire Premises is separated into two (2) or more separate tax parcels for purposes of levying and assessing the Real Property Taxes), then, at Landlord’s option, Tenant shall pay Tenant's liability shall ’s pro rata share of all Real Property Taxes which may be an equitable proportion of the real property taxes for all of levied or assessed by any lawful authority against the land and improvements included within of the separate tax parcel on which the Building containing the Premises is located. Tenant’s pro rata share under such circumstances shall be apportioned according to the floor area of the Premises as it relates to the total leasable floor area of the Building or buildings situated in the separate parcel in which the Premises are located. All Real Property Taxes for the tax parcel assessedyear in which the Term commences and for the tax year in which this Lease terminates shall be apportioned and adjusted so that Tenant shall not be responsible for taxes and assessments for a period of time occurring prior to the time the Term commences or subsequent to the Term. The amount to be paid pursuant to the provisions of this Section 8.01 shall be paid monthly in advance without demand or offset as estimated by Landlord based on the most recent tax bills and estimates or reappraised values (if reappraisal is to occur), commencing with the month (or partial month on a prorated basis if such be the case) that the Term commences. If at any time during the Term, a tax, fee or excise is levied or assessed by any political body against Landlord on account of rent payable to Landlord hereunder, the square footage of the Premises, the act of entering into this Lease or the occupancy of Tenant or any other tax however described or any tax based on or measured by expenditures made by Tenant on behalf of Landlord, including the so-called value added tax, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets tax, fee or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, excise shall be conclusive.
considered “Real Property Taxes” for purposes of this Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against 8.01, and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with payable in full by Tenant. At Landlord's real property’s option, Tenant such taxes, fees or excises shall pay Landlord the taxes attributable to Tenant the later of: (i) be payable monthly in advance on an estimated basis as provided in this Section 8.01 or shall be payable within ten (10) days after Tenant’s receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded tax b▇▇▇ therefor from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costsLandlord.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Lease Agreement (Cinemark Holdings, Inc.), Lease Agreement (Cinemark Holdings, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises pay during the demised termTerm hereof Tenant’s Percentage of Real Estate Taxes for the Building, as indicated above in Section 1.1, with respect to Real Estate Taxes incurred by Landlord in any tax year. Such taxes, assessments Landlord and fees Tenant acknowledge and agree that Landlord receives one ▇▇▇▇ for Real Estate Taxes for the entire Industrial Park and that the Real Estate Taxes shown on such ▇▇▇▇ shall be prorated to lease years for purpose of making this computation. Such payment shall be made allocated by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for Landlord among all of the land buildings comprising the Industrial Park in good faith and improvements included within in a fair and reasonable manner with respect to all parcels in the entire Industrial Park. Upon Landlord’s receipt of any tax parcel assessed▇▇▇▇, such proportion Landlord shall provide a copy to be determined by Tenant. The term “Real Estate Taxes” means the aggregate of all real estate taxes and any other governmental impositions which Landlord is required to pay based upon the value of or gross rents from the respective valuations assigned in the assessor's work sheets Property, general or such special assessments, charges for sewer use or other information as may be reasonably available. Landlord's reasonable determination thereofgovernmental services, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises special district fees or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, feestaxes, and any similar charges required to other governmental fees and assessments imposed upon the Property, exclusive only of income and franchise taxes, whether or not such Real Estate Taxes exist or apply on the Commencement Date. Any assessments which can be paid in installments by Landlord shall be paid by any instrumentality of local, state or federal government in connection with parking Landlord in the parking area, including policing; supervising with attendants; other costs maximum number of installments permitted by law and not included in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of Real Estate Taxes except in the actual cost of modification or improvements year in which the assessment is actually paid. Notwithstanding anything to the areas, facilities and improvements maintained contrary contained in this Article either (i) required by any instrumentality of localLease, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there following shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account Real Estate Taxes and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions paid solely by Landlord: inheritance, estate, succession, transfer, gift, franchise, or capital stock tax, or any income taxes arising out of Article 17 hereinaboveor related to ownership and operation of income-producing real estate, ------------ ---------- Tenant shall pay or any excise taxes imposed upon Landlord based upon gross or net rentals or other income received by it; any increase in "real property taxes" taxes and assessments resulting from any Landlord’s sale of, or other transfer of its interest in, the Building or the Industrial Park; and all assessments, charges, taxes, rents, fees, rates, levies, excises, license fees, permit fees, inspection fees, or other authorization fees or charges to the extent allocable to or caused by the development or installation of on- or off-site improvements or utilities (including without limitation street and intersection improvements, roads, rights of any kind whatsoever placed on or in the demised premises way, lighting, and signalization) necessary for the benefit of development or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage construction of the demised premises, on the act of entering into this LeaseBuilding, or on the occupancy any past, present or future system development reimbursement schedule or sinking fund related to any of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the futureforegoing.
Appears in 2 contracts
Sources: Lease Agreement (Akouos, Inc.), Lease Agreement (Akouos, Inc.)
Real Property Taxes. Section 17.1. 17.1 Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's ’s written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term Term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's ’s liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. 17.2 If the demised premises are not separately assessed, ------------ Tenant's ’s liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's ’s work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. 17.3 Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewherepremises. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's ’s said personal property shall be assessed with Landlord's ’s real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's ’s property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. 17.4 In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of governmental requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs. Landlord shall not market the parking area for parking by the general public.
Section 17.5. 17.5 Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "“real property taxes" ” resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. 17.6 In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Lease Agreement (Talis Biomedical Corp), Lease Agreement (Talis Biomedical Corp)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's ’s written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's ’s liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's ’s liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's ’s work sheets or such other information as may be reasonably available. Landlord's ’s reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's ’s said personal property shall be assessed with Landlord's ’s real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's ’s property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "“real property taxes" ” resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Business Lease Agreement (Corium International, Inc.), Business Lease Agreement (Corium International, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for agrees to pay its pro rata share of all general and special real property ------------ taxes, taxes and assessments and ongoing sewer fees governmental levies and charges of any and every kind, nature and sort whatsoever, ordinary and extraordinary, foreseen and unforeseen, and substitutes therefor or supplements thereto, including the cost to Landlord of any appeals or contests of any taxes or assessments, except any inheritance, estate, succession, transfer or gift tax imposed on Landlord or any income tax specifically payable by Landlord as a separate tax-paying entity without regard to Landlord’s income source as arising from or out of the Entire Premises (collectively “Real Property Taxes”), which may be levied or assessed by any lawful authority against the Entire Premises applicable to the demised premises during period from the demised termcommencement of the Term until the expiration or sooner termination of this Lease. Such taxes, assessments and fees Tenant’s pro rata share shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior apportioned according to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date floor area of the fiscal tax year, Tenant's liability for taxes for Premises as it relates to the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion total leasable floor area of the real property taxes Building or buildings located within the Entire Premises (including the Premises). Notwithstanding the foregoing provisions, if the Real Property Taxes arc not levied and assessed against the Entire Premises by means of a single tax b▇▇▇ (i.e., if the Entire Premises is separated into two (2) or more separate tax parcels for purposes of levying and assessing the Real Property Taxes), then, at Landlord’s option, Tenant shall pay Tenant’s pro rata share of all of Real Property Taxes which may be levied or assessed by any lawful authority against the land and improvements included within of the separate tax parcel on which the Building containing the Premises is located. Tenant’s pro rata share under such circumstances shall be apportioned according to the floor area of the Premises as it relates to the total leasable floor area of the Building or buildings situated in the separate parcel in which the Premises are located. All Real Property Taxes for the tax parcel assessedyear in which the Term commences and for the tax year in which this Lease terminates shall be apportioned and adjusted so that Tenant shall not be responsible for taxes and assessments for a period of time occurring prior to the time the Term commences or subsequent to the Term. The amount to be paid pursuant to the provisions of this Section 8.01 shall be paid monthly in advance without demand or offset as estimated by Landlord based on the most recent tax bills and estimates or reappraised values (if reappraisal is to occur), commencing with the month (or partial month on a prorated basis if such be the case) that the Term commences. If at any time during the Term, a tax, fee or excise is levied or assessed by any political body against Landlord on account of rent payable to Landlord hereunder, the square footage of the Premises, the act of entering into this Lease or the occupancy of Tenant or any other tax however described or any tax based on or measured by expenditures made by Tenant on behalf of Landlord, including the so-called value added tax, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets tax, fee or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, excise shall be conclusive.
considered “Real Property Taxes” for purposes of this Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against 8.01, and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with payable in full by Tenant. At Landlord's real property’s option, Tenant such taxes, fees or excises shall pay Landlord the taxes attributable to Tenant the later of: (i) be payable monthly in advance on an estimated basis as provided in this Section 8.01 or shall be payable within ten (10) days after Tenant’s receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded tax b▇▇▇ therefor from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costsLandlord.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 2 contracts
Sources: Lease Agreement (Cinemark Holdings, Inc.), Lease Agreement (Cinemark Holdings, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse pay to Landlord for all real property ------------ taxesin the manner set forth in Section 8 below, assessments and ongoing sewer fees applicable as Additional Rent, Tenant's Percentage Share of Real Property Taxes attributable to the demised premises tax parcel within which the Building is located and the portion of Real Property Taxes attributable to the developed Common Facilities in the Project (including, but not limited to, common detention ponds, the central park area, Building and Project roads, Building and Project landscaping, etc.) allocated by Landlord to the Building based on the Building's pro rata share thereof (as such pro rata share is reasonably determined by Landlord) (collectively, "TENANT'S PERCENTAGE SHARE OF REAL PROPERTY TAXES"). Landlord shall not allocate to Tenant any portion of any Real Property Taxes attributable to undeveloped portions of the Project, developed portions of the Project held for lease (excluding the Building), or developed portions of the Project that are not Common Facilities. Tenant's obligation to pay Tenant's Percentage Share of Real Property Taxes during the demised termTerm shall survive the expiration or early termination of this Lease provided that Landlord invoices Tenant for such amounts no later than two (2) years after such expiration or early termination. Such taxesIf this Lease shall commence or terminate on a day other than the first or last day of a calendar year, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth respectively, the amount of such computation thereof, or (ii) Tenant's Percentage Share of Real Property Taxes payable by the thirtieth (30th) day prior to the delinquency date Tenant for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease calendar year shall be prorated on an annual basis.
Section 17.2the basis of a 365 day year and shall be due and payable when rendered notwithstanding termination of this Lease provided that Landlord invoices Tenant for such amounts no later than two (2) years after such expiration or early termination. If the demised premises are not separately assessed, ------------ Tenant's liability Percentage Share of Real Property Taxes allocable to the calendar year in which this Lease commences or terminates shall be an equitable proportion of deemed to have been incurred evenly over the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: entire twelve (i12) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction month period of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costscalendar year.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Office Lease (Allos Therapeutics)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for agrees to pay, as additional rent, all real property ------------ taxestaxes and assessments levied or assessed against the Premises, assessments including the Real Property, the Building and ongoing sewer fees the other Improvements, applicable to any period from and after the demised premises during Commencement Date and continuing through the demised termend of the Term of the Lease. Such taxesAny real property tax or assessment relating to a fiscal period, assessments and fees a part of which precedes the Commencement Date or continues beyond the end of the Term of the Lease, shall be prorated so Tenant shall pay only that portion thereof which relates to lease years the portion of the subject tax period commencing with the Commencement Date and ending on the expiration or sooner termination of the Term of this Lease. Tenant further agrees to pay any tax or excise on rent or any other tax, however described, that is levied or assessed by the State of California, or any political subdivision thereof, against Landlord on account of or measured by the rentals and/or other charges payable to or for purpose the benefit of making this computationLandlord hereunder. Such payment If under the laws of the State of California, or any political subdivision thereof, at any time during the term hereof, the methods of taxation shall be made by altered so as to impose in lieu of current methods of assessments and taxation, in whole or in part, taxes based on other standards, or in lieu of any increase therein, such taxes shall be deemed to be a tax levied or assessed upon the Premises for the purposes of this Lease. Nothing herein contained, however, shall obligate Tenant the later of: (i) within thirty (30) days after receipt to pay any income, inheritance, estate, gift, succession, sales, use, or a transfer tax of Landlord's written statement setting forth the amount of such computation thereof, nor shall Tenant be deemed obligated to pay any personal property, corporation, franchise, payroll, excess profits, excise, or (ii) privilege tax which may be assessed or levied against Landlord. Landlord shall cause the tax ▇▇▇▇ to be mailed directly by the thirtieth (30th) day prior tax assessor to the delinquency date for such taxTenant, assessment or fee. If the demised term and Tenant shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of pay the real property taxes for all of and assessments directly to the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within taxing authority at least ten (10) days after receipt prior to delinquency and concurrently provide Landlord with evidence of payment in a written statement setting forth the taxes applicable form reasonably satisfactory to Tenant's propertyLandlord. If required by Landlord’s lender, or (ii) Tenant shall also provide evidence of payment to Landlord’s lender as required by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costsloan documents.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease Agreement (Dj Orthopedics Inc)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, ------------- assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ ------------- Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ ------------- against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ ------------- Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- ------------- Tenant shall pay any increase in "real property taxes" resulting from any and all ail improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all ail other payments provided for herein, the ------------ ------------- Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Section 17.7. Notwithstanding anything to the contrary contained in this ------------- Lease, real property taxes shall not include, and Tenant shall not be obligated to pay, any of the following: (a) interest on taxes or penalties resulting from Landlord's failure to taxes, or (b) transfer, gift or franchise taxes.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for its prorata share of any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with charged parking in on the parking areaareas and facilities furnished by Landlord, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements (made after the Commencement Date) maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of governmental requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall on account of governmental requirements require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Section 17.7. Real Property taxes" shall not include and Tenant shall not be required to pay any portion of any tax or assessment expense or any increase therein (a) in excess of the amount which would be payable if such tax or assessment expense were paid in installments over the longest possible term; or (b) attributable to Landlord's net income, inheritance, gift, transfer, estate or state taxes.
Appears in 1 contract
Sources: Lease (Xtent Inc)
Real Property Taxes. Section 17.1Tenant agrees to pay to the Landlord throughout the term of this Lease, Tenant's Proportionate Share of all real estate taxes and all assessments which may be levied against Landlord by the local tax authorities and other governmental agencies. Tenant's proportionate share of real estate taxes shall be fifty (50%) percent of any increase over the base year which shall be 1995. Tenant will pay its proportionate share of real estate taxes after the end of each calendar year Landlord when the Landlord delivers to Tenant a computation of the Tenant's proportionate Share for the prior calendar year based upon the base year of 1995. Tenant shall reimburse pay said additional rent to Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt Landlord presents to Tenant its proportionate share. For the purposes of Landlord's written statement setting forth this Lease, the amount term "real estate taxes" shall include all real estate taxes, assessments, water and sewer rents (except water meter charges and sewer rent based thereon) and other governmental impositions and charges of such computation every kind and nature whatsoever, extraordinary as well as ordinary, general and special, foreseen and unforeseen, and each and every installment thereof (including any interest on amounts which may be paid in installments) which shall or may, during the Lease term, be levied, assessed, imposed, become due and payable, or liens upon, or arising in connection with, the use, occupancy or possession of or become due and payable out of, or for, the entire demise premises or any part thereof, and all costs incurred by Landlord in contesting or (ii) negotiating the same with governmental authority. Tenant hereby waives any right it may have by statute or otherwise to protest real estate taxes so long as Landlord is contesting or negotiating the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently same with the expiration governmental authority. Nothing herein contained shall be construed to include as a tax which shall be the basis of real estate taxes, any inheritance, estate succession, transfer gift, franchise, corporation, income or profit tax or capital levy that is or may be imposed upon Landlord; provided, however, that if, any time after the date hereof the methods of taxation shall be altered so that in lieu of or as a substitute for the whole or any part of the fiscal tax yeartaxes now levied, Tenant's liability for taxes for the last partial lease year shall be prorated assessed or imposed on an annual basis.
Section 17.2. If the demised premises are not separately assessedreal estate as such, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or (a) a tax on the square footage of rents received from such real estate, or (b) a license fee measured by the demised premisesrents receivable by Landlord or any portion thereof, on or (c) a tax or license fee imposed upon Landlord which is otherwise measured by or based in whole or part upon any portion thereof. In addition to the act of entering into foregoing, should any governmental authority acting under any existing or future law, ordinance or regulation, levy, assess or impose a tax, excise and/or 7 assessment upon or against this Lease, or on the occupancy execution hereof and/or the Minimum Rent, Percentage Rent and other charges payable by Tenant to Landlord whether by way of the Tenant however described, as a direct substitution in whole or in part for, for or in addition toto any existing tax or otherwise, any real property taxesand whether or not evidenced by documentary stamps or the like, whether pursuant to laws presently existing Tenant shall be responsible for and shall pay such tax, excise and/or assessment, or enacted in shall reimbursed Landlord for the futureamount thereof, as the case may be, after Tenant has received thirty (30) days' written notification.
Appears in 1 contract
Sources: Business Property Lease (Pharmasystems Holdings Corp)
Real Property Taxes. Section 17.1Tenant shall pay all Real Property Taxes applicable to the Premises directly to the applicable taxing authority during the term of this Lease. All such payments shall be made at least ten (10) days prior to the delinquency date of such payment. Tenant shall reimburse promptly furnish Landlord for with satisfactory evidence that all real property ------------ taxesReal Property Taxes have been paid. If any Real Estate Taxes paid by Tenant shall cover any period of time prior to or after the expiration of the term hereof, assessments and ongoing sewer fees Tenant's share of such Real Property taxes shall be equitably prorated to cover only the period of time within the fiscal year applicable to the demised premises such Real Property Taxes during the demised term. Such taxes, assessments and fees which this Lease shall be prorated in effect, and Landlord shall reimburse Tenant to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) extent required within thirty (30) days after receipt of Landlord's written statement setting forth the amount expiration of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or feeTerm. If Tenant shall fail to pay any Real Property Taxes, Landlord shall have the demised term right to pay the same, in which event Tenant shall not expire concurrently repay such amount to Landlord with the expiration date of the fiscal tax year, Tenant's liability next rent installment together with interest at the rate applicable hereunder for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2sums overdue after any applicable notice or grace period. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion For purposes of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for hereinthis Lease, the ------------ Tenant term "Real Property Taxes" shall on demand reimburse Landlord for include any surchargesform of real estate tax or assessment, feesgeneral, special, ordinary or extraordinary, and any similar charges required to be paid license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed on the Premises by any instrumentality of local, state authority having the direct or federal government in connection with parking in the parking areaindirect power to tax, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of localcity, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, as against any legal or equitable interest of Landlord in the Premises or in the real property of which the Premises are a part, as against Landlord's right to rent or other income therefrom, and as against Landlord's business of leasing the Premises. The term "Real Property Taxes" shall also include any tax, fee, levy, assessment or charge (i) in substitution of, partially or totally, any tax, fee, levy assessment or charge hereinabove included within the definition of "Real Property Taxes", or (ii) installed by Landlord to facilitate payment the nature of a parking charge by which was hereinbefore included within the general public for parking in the parking areadefinition of "Real Property Taxes", or both, and other similar costs; and there shall be excluded from all (iii) which is added to a tax or charge hereinbefore included within the definition of Article 17
(a) cost of construction "Real Property Taxes" by reason of such improvements ---------- transfer, (iv) which is properly chargeable to capital account and imposed by reason of this transaction, any modifications or changes hereto or any transfers hereof, or (bv) depreciation any fee assessed or charged by any third party in connection with any assessment appeal or Real Property Taxes valuation adjustment which actually results in a reduction of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costsReal Property Taxes.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Office Space Lease (Nco Group Inc)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for (a) The Company exclusively authorizes Seller to pursue all real property ------------ taxes, assessments available remedies and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated make any filings Seller deems reasonably appropriate to lease years for purpose seek reimbursement of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, some or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion all of the real property taxes Taxes paid by the Company for all the 2020 calendar year (the “2020 Real Property Taxes”); provided, however, that neither Seller nor any of its Affiliates shall enter into any agreement that adversely affects or is reasonably likely to adversely affect the Tax liability of Buyer, the Company or any Affiliate of the land and improvements included within foregoing for any period ending after the tax parcel assessedClosing Date, such proportion including the portion of the Straddle Period that begins after the Closing Date, without the prior written consent of Buyer, which may not be unreasonably withheld, conditioned or delayed. In the event the Company obtains any portion of the 2020 Real Property Taxes in any form (e.g., reimbursement, credit, etc.), Buyer shall cause the Company to be determined by Landlord from pay to Seller in cash an amount equal to the respective valuations assigned in portion of the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive2020 Real Property Taxes that Seller was able to obtain on behalf of the Company.
Section 17.3. Tenant shall pay prior (b) The Company exclusively authorizes Seller to delinquency pursue all taxes assessed ------------ against available remedies and levied upon trade fixtures, furnishings, equipment and all other personal property to make any filings Seller deems reasonably appropriate to reduce the amount of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the Company’s real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges Taxes required to be paid by the Company for the 2021 calendar year (the “2021 Real Property Taxes”); provided, however, that neither Seller nor any instrumentality of localits Affiliates shall enter into any agreement that adversely affects or is reasonably likely to adversely affect the Tax liability of Buyer, state the Company or federal government in connection with parking in any affiliate of the parking areaforegoing for any period ending after the Closing Date, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation the portion of the actual cost Straddle Period that begins after the Closing Date, without the prior written consent of modification Buyer, which may not be unreasonably withheld, conditioned or improvements delayed. In the event the Company obtains any portion of the 2021 Real Property Taxes in any form (e.g., reimbursement, credit, etc.), Buyer shall cause the Company to pay to Seller in cash an amount equal to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation portion of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed 2021 Real Property Taxes that Seller was able to obtain on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage behalf of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the futureCompany.
Appears in 1 contract
Sources: Membership Interest Purchase Agreement (Smart Sand, Inc.)
Real Property Taxes. Section SECTION 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section SECTION 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section SECTION 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section SECTION 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of governmental requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord Landlord, on account of governmental requirements, shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section SECTION 17.5. Notwithstanding the provisions of Article ARTICLE 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section SECTION 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease (Iprint Com Inc)
Real Property Taxes. Section 17.1(a) If any assessments for public improvements, services or benefits are levied against the Premises, Lessor may elect to pay the assessment either in full or in installments. Tenant In either such case, however, Lessee shall reimburse Landlord for all pay to Lessor with each payment of real property ------------ taxes, assessments taxes due hereunder only that amount of any tax increase based on the installments of principal and ongoing sewer fees interest which would have become due during this Lease Term had Lessor elected to pay the assessment in installments. Lessee shall pay the Real Property Taxes applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: Premises within (i) within thirty twenty (3020) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, billing or (ii) by the thirtieth ten (30th10) day days prior to the delinquency date for of such taxreal property taxes, assessment or feewhichever is later. If Any Tax Increase attributable to the demised term shall not expire concurrently with the expiration date cost of the fiscal tax year, Tenant's liability for taxes for the last partial lease year Lessor Improvements and Tenant Improvements shall be prorated on an annual basis.
Section 17.2. If payable by Lessee; provided, however, that if the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion construction of the real property taxes for all Lessor Improvements and Tenant Improvements shall trigger a full fair market value reassessment of the land and improvements included within the tax parcel assessedPremises, then Lessee shall only be required to pay a share of any such proportion to resulting Tax Increase, which share shall be determined by Landlord multiplying the amount of the Tax Increase by a fraction, the numerator of which shall be the sum of the cost of the Lessor Improvements and Tenant Improvements incurred by both Lessor and Lessee and the denominator of which shall be the amount of the reassessed fair market value of the Premises, it being understood that Lessor shall be responsible for paying the remaining share of the Tax Increase.
(b) During the Original Term of this Lease, Lessee shall not be obligated to pay, and Lessor shall pay, any Tax Increase resulting from any "change of ownership" and consequent reassessment of the respective valuations assigned Premises pursuant to Chapter 3.5 of the California Revenue and Taxation Code, as amended.
(c) Lessee, at its cost, shall have the right at any time, to seek a reduction in the assessor's work sheets assessed valuation of the Premises or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If contest any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required Tax Increase that is to be paid by Lessee. Lessor shall not be required to join in any instrumentality proceeding or contest brought by Lessee unless the provisions of localany law require that the proceeding or contest be brought by or in the name of Lessor. In that case, state Lessor shall join in the proceedings or federal government contest or permit it to be brought in Lessor's name as long as Lessor is not required to bear any cost. Lessor shall cooperate in good faith with Lessee in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation any such proceeding or contest. On final determination of the actual cost of modification proceedings or improvements to the areascontest, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state Lessee shall immediately pay or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or discharge its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements share of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-Tax Increase based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premisesdecision or judgment rendered, on the act of entering into this Leasetogether with all costs, or on the occupancy of the Tenant however describedcharges, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.interest and
Appears in 1 contract
Sources: Standard Industrial/Commercial Single Tenant Lease (Digitalthink Inc)
Real Property Taxes. Section 17.1Tenant shall pay Tenant's Share of all general and special real property taxes, assessments (including, without limitation, change in ownership taxes or assessments), liens, bond obligations, license fees or taxes and any similar impositions in lieu of other impositions now or previously within the definition of real property taxes or assessments (collectively, "REAL PROPERTY TAXES") which may be levied or assessed by any lawful authority against the Project applicable to the period from the Commencement Date until the expiration or sooner termination of this Lease. Notwithstanding the foregoing provisions, if the Real Property Taxes are not levied and assessed against the entire Project by means of a single tax bill (i.e., if the Premises is included in a larger parcel for purposes of levying and assessing the Real Property Taxes), then the Real Property Taxes levied against the Premises shall be deemed to be the sum of (i) the portion of the Real Property Taxes levied against the improvements on the larger parcel multiplied by a fraction, the numerator of which is the Rentable Square Feet of the Building and the denominator of which is the Rentable Square Feet of all buildings (including without limitation the Building) located on the larger parcel, plus (ii) the portion of the Real Property Taxes levied against the land in the larger parcel multiplied by a fraction, the numerator of which is the land area of the Land and the denominator of which is the land area of the larger parcel. Tenant shall reimburse Landlord pay ▇▇▇▇▇▇'s Share of all Real Property Taxes which may be levied or assessed by any lawful authority against the land and improvements of the separate tax parcel on which the Building containing the Premises is located. All Real Property Taxes for all real property ------------ taxes, assessments the tax year in which the Commencement Date occurs and ongoing sewer fees applicable for the tax year in which this Lease terminates shall be apportioned and adjusted so that Tenant shall not be responsible for any Real Property Taxes for a period of time occurring prior to the demised premises during Commencement Date or subsequent to the demised termexpiration of the Term. Such taxes, assessments and fees The amount to be paid pursuant to the provisions of this Section 6.1 shall be paid monthly in advance as part of Tenant's Monthly Operating Expense Charge as estimated by Landlord based on the most recent tax bills and estimates of reappraised values (if reappraisal is to occur), commencing with the month (or partial month on a prorated basis if such be the case) that the Commencement Date occurs. Landlord may elect, by written notice to lease years for purpose Tenant, to require Tenant to (i) pay ▇▇▇▇▇▇'s Share of making this computation. Such Real Property Taxes directly to the taxing authority (in which case such payment shall be made by Tenant the later of: at least ten (i) within thirty (3010) days after receipt of Landlord's written statement setting forth the amount of such computation thereofprior to delinquency), or (ii) by the thirtieth (30th) day prior to the delinquency date reimburse Landlord for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year Share of Real Property Taxes (in which case such payment shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined made by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt ▇▇▇▇▇▇▇▇'s delivery of a written statement setting forth the taxes applicable an invoice to Tenant). The initial estimated monthly charge for ▇▇▇▇▇▇'s propertyShare of Real Property Taxes is included in the Monthly Operating Expense Charge as provided in Section 5. If at any time during the Term under the laws of the United States, or (ii) the state, county, municipality or any political subdivision in which the Project is located, a tax or excise on rent or any other tax however described is levied or assessed by the thirtieth (30/th/) day prior any such political body against Landlord on account of rent payable to the delinquency date Landlord or any tax based on or measured by expenditures made by Tenant on behalf of Landlord, such tax or excise shall be considered "REAL PROPERTY TAXES" for such
purposes of this Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees6.1, and any similar charges required to shall be paid payable in full by any instrumentality of localTenant. At Landlord's option, state such taxes or federal government excises shall be payable monthly in connection with parking advance on an estimated basis as provided in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation this Section 6.1 or shall be payable within ten (10) days after Landlord's delivery of the actual cost of modification or improvements tax bill to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease Agreement (Eyeonics Inc)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for pay Tenant's Share of Real Property Taxes in accordance with the provisions of Section 4. "Real Property Taxes" mean, collectively, all general and special real property ------------ taxes, assessments, and any similar impositions in-lieu of other impositions now or previously within the definition of real property taxes or assessments and ongoing sewer fees which may be levied or assessed by any lawful authority against the Project applicable to the demised premises during period from the demised termCommencement Date until the expiration or sooner termination of this Lease. Such Real Property Taxes are included within Operating Expenses, as set forth in Section 4.4. “Real Estate Taxes” does not include Landlord’s federal or state income, franchise, gross receipts, inheritance or estate taxes, assessments and fees capital, stock, succession, gift, estate tax; any item to the extent otherwise included in Operating Expenses, or reserves for future Real Estate Taxes. Landlord shall be prorated to lease years reimburse Tenant for purpose of making this computation. Such payment shall be made any amount paid by Tenant for Real Estate Taxes that is later refunded to Landlord or otherwise reduced after first deducting Landlord’s reasonable costs of prosecution (which obligation survives termination of this Lease). During the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereofTerm, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as Tenant may be reasonably available. Landlord's reasonable determination thereofcontest, in good faith, the existence, amount or validity thereof, the amount of the damages caused thereby, or the extent of its or Landlord’s liability related to Real Estate Taxes by appropriate proceedings, and Landlord shall use reasonable efforts to cooperate with Tenant’s efforts related to same. Such contest will not excuse Tenant’s obligations to continue to pay all Real Estate Taxes to Landlord as required under this Lease. Each such contest shall be conclusive.
promptly and diligently prosecuted by Tenant to a final conclusion, except that Tenant, so long as the conditions of this Section 17.3are at all times complied with, has the right to attempt to settle or compromise such contest through negotiations. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment any and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shalllosses, if possiblejudgments, cause said trade fixtures, furnishings, equipment decrees and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs any such contest and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of shall, promptly after the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction final determination of such improvements ---------- contest, fully pay and discharge the amounts which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed assessed, charged or imposed upon or be determined to be payable therein or in connection therewith, together with all penalties, fines, interest and costs thereof or in connection therewith, and perform all acts the rent performance of which shall be ordered or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, decreed as a direct substitution result thereof. No such contest shall subject Landlord to the risk of any civil or criminal liability or to any potential increases in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the futureReal Estate Taxes.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for (Continue on Exhibit K attached hereto)
5.2.1 In addition to all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made other Rent payable by Tenant hereunder, Tenant agrees to pay as additional Rent its proportionate share of Real Property Taxes levied and assessed against the later of: (i) within thirty (30) days after receipt Project. Real Property Taxes for any fractional portion of Landlord's written statement setting forth a calendar year included in the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year Lease Term shall be prorated on an annual basisthe basis of a 360-day year. Landlord’s Initials /s/ [ILLEGIBLE] Tenant’s Initials /s/ BD, /s/ BL
5.2.2 Each year, Landlord shall notify Tenant of its proportionate share of the Real Property Taxes payable by Tenant hereunder and Tenant shall pay Landlord the amount payable by Tenant at the time and in the manner provided by Article 7 of this Lease.
Section 17.2. If 5.2.3 Tenant’s proportionate share of Real Property Taxes shall be the demised premises ratio that the square footage of the Premises bears to the total leasable square footage of the Building and other improvements of which the Premises are a part, or if such Building and improvements are not separately assessed, ------------ Tenant's liability shall be an equitable proportion the total leasable square footage of the real property taxes for all buildings and improvements constituting the Project. Tenant’s proportionate share on the Commencement Date is set forth in the Basic Provisions; said proportionate share is subject to adjustment periodically as of the land time each installment of Real Property Taxes is due. Increases in Real Property Taxes resulting under Proposition 13 changes in ownership of the Premises are waived for the initial three (3) years of the Lease in accordance with Exhibit K, Supplemental Terms and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusiveConditions.
Section 17.3. 5.2.4 Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Landlord Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation ’s proportionate share of the actual cost of modification or improvements to the areasReal Property Taxes in each calendar year; provided, facilities and improvements maintained in this Article either (i) required by any instrumentality of localhowever, state or federal governmentLandlord may, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking areaat its election, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- that Tenant shall pay any increase in "real property taxes" resulting from any and all improvements the assessed value of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-Project based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy value of the Tenant however describedImprovements (as defined in the Exhibit B), if any, relative to the value of the other improvements on or to the other buildings in the Project, as reasonably determined by Landlord. Upon Tenant’s request, Landlord shall endeavor to provide Tenant with a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in breakdown of Landlord’s determination of Tenant’s increased share of Real Property Taxes resulting from the futureTenant Improvements.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for pay, directly to the appropriate taxing authority, before delinquency all real property ------------ taxes, general and special assessments, bonds and other assessments (collectively, "REAL PROPERTY TAXES") levied and ongoing sewer fees applicable to assessed against the demised premises during Premises.
(1) Landlord shall notify Tenant of the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after Real Property Taxes following receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently tax bill ▇▇▇ll furnish Tenant with the expiration date a copy of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2bill. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant ▇▇nant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the Real Property Taxes semiannually not later of: (i) within than ten (10) days (i) after receipt of a written statement setting forth the taxes applicable to Tenant's propertytax bill, or ▇▇ (ii) by the thirtieth (30/th/) day prior to the delinquency date for suchdate, whichever is later.
Section 17.4. In addition (2) Tenant's liability to all other payments provided for herein, pay Real Property Taxes shall be prorated on the ------------ Tenant shall on demand reimburse Landlord basis of a 365-day year to account for any surchargesfractional portion of a fiscal tax year included in the Initial Term.
(3) Tenant, feesat its cost shall have the right, and at any similar charges required time, to seek a reduction in the assessed valuation of the Premises or to contest any Real Property Taxes that are to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17Tenant.
(a) cost Landlord shall not be required to join in any proceeding or contest brought by Tenant unless the provisions of construction any law require that the proceeding or contest be brought by or in the name of such improvements ---------- which Landlord or any owner of the Premises. In that case, Landlord shall join in the proceeding or contest or permit it to be brought in Landlord's name as long as Landlord is properly chargeable not required to capital account bear any cost. Tenant, on final determination of the proceeding or contest, shall immediately pay or discharge any decision or judgment rendered, together with all costs, charges, interest, and penalties incidental to the decision or judgment.
(b) depreciation If Tenant does not pay the Real Property Taxes when due and Tenant seeks a reduction or contests them as provided in this Paragraph, before the commencement of the original cost proceeding or contest, Tenant shall furnish to Landlord a surety bond issued by an insurance company suitable to Landlord and qualified to do business in California. The amount of construction the bond shall equal one hundred twenty-five percent (125%) of all items not previously mentioned the total amount of Real Property Taxes in this sentencedispute. If The bond shall hold Landlord and the Premises harmless from any damage arising out of the proceeding or contest and shall require insure the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy judgment that may be leviedrendered.
(c) Notwithstanding the definition of Real Property Taxes, assessed in the event that Landlord conveys its interest in the Premises to a third party, constituting a "change of ownership" pursuant to the California Real Estate Tax, resulting
(4) Tenant shall not be required to pay any municipal, county, state, or imposed upon federal income or franchise taxes of Landlord, or any municipal, county, state, or federal estate, succession, inheritance, or transfer taxes of Landlord. If at any time during the rent Initial Term or Extended Terms, if applicable, the State of California or any political subdivision of the state, including any county, city, city and county, public corporation, district, or any other payments provided for herein political entity or public corporation of this state, levies or assesses against Landlord a tax, fee, or excise on (1) rents, (2) the square footage of the demised premisesPremises, on (3) the act of entering into this Lease, or on (4) the occupancy of the Tenant however describedTenant, or levies or assesses against Landlord any other tax, fee, or excise, as a direct substitution in whole or in part for, or but not in addition to, any real property taxesReal Property Taxes, whether pursuant to laws presently existing or enacted in Tenant shall pay, before delinquency such amount, which for the futurepurpose of this Lease shall be within the definition of Real Property Tax.
Appears in 1 contract
Sources: Net Lease Agreement (Financial Pacific Insurance Group Inc)
Real Property Taxes. Section 17.11. Tenant To Pay All Taxes Tenant shall reimburse Landlord for pay to the appropriate taxing authority, as additional rent, its prorata share of any and all real property ------------ estate taxes, assessments ad valorem taxes and ongoing sewer fees applicable assessments, assessments, surcharges and municipal or government charges, general and special, ordinary and extraordinary, of every kind and nature whatsoever attributable to the demised premises Leased Premises (excluding any transfer or excise tax imposed as a consequence of Landlord's transfer or assignment of its interest in this Sublease) which may be levied, imposed or assessed during any fiscal tax year which occurs wholly or partially during the demised termterm of this Lease against all of the land, buildings and other real property improvements of the Leased Premises. Such taxesIf any general or special assessment is levied and assessed, assessments Landlord can elect to either pay the assessment in full or use the installment payment method as authorized by the appropriate levying authority. If Landlord pays the assessment in full, Tenant shall pay to Landlord each time a payment of real property taxes is made a sum equal to that which would have been payable, had Landlord elected to pay such assessment under the installment payment method (as both principal and fees interest, at the rate of interest utilized by the taxing authority), had Landlord used the optional installment payment method; provided, however, Tenant shall be prorated entitled to pay such assessment in full at the time Landlord pays it in full. At any time during the lease years for purpose of making this computation. Such term, if Tenant has not paid when due any tax payment shall required hereunder or under the Third Party Leases, Landlord may elect to require the real property taxes be made paid by Tenant in equal monthly installments in such amounts as are estimated and billed for each tax year by Landlord at the later of: (i) within commencement of the lease term and at the beginning of each successive tax year during the lease term, each such installment being due on the first day of each calendar month. At any time during a tax year, Landlord may re-estimate the real properly taxes and thereafter adjust Tenant's monthly installments payable during the tax year to reflect more accurately Tenant's real property taxes. Within thirty (30) days after Landlord's receipt of Landlord's written statement setting forth tax bills for each tax year, or such reasonable time thereafter, Landlord will notify Tenant of the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for real property taxes for the last partial lease tax year shall be prorated on an annual basis.
Section 17.2in question. If the demised premises are not separately assessed, ------------ Any overpayment or deficiency in Tenant's liability shall be an equitable proportion payment of the real property taxes for all of the land and improvements included within the each tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, year shall be conclusive.
Section 17.3. adjusted between Landlord and Tenant, and Landlord and Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, hereby agree that Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable or Landlord shall credit to Tenant's propertyaccount (or, or (ii) by if such adjustment is at the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation end of the actual cost Term, Landlord shall pay Tenant), as the case may be, within fifteen (15) days of modification or improvements the aforesaid notice to the areasTenant, facilities and improvements maintained in this Article either (i) required by any instrumentality such amount necessary to effect such adjustment. The failure of local, state or federal government, or (ii) installed by Landlord to facilitate payment provide such notice within the time prescribed above shall not relive Tenant of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all any of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5obligations hereunder. Notwithstanding the provisions of Article 17 hereinaboveforegoing, ------------ ---------- Tenant shall if Landlord is required under law to pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or taxes in the demised premises for the benefit of or at the request of advance, Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition agrees to all other payments provided for hereinpay Landlord, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage commencement of the demised premises, on the act term of entering into this Lease, or on an amount equal to the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxestaxes for the entire tax year in which the term of this Lease commences, whether pursuant and in such event, at the termination of this Lease, Tenant shall be entitled to laws presently existing or enacted in the futurea refund of real property taxes paid which are attributable to a period after this Lease expires.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for (Continue on Exhibit K attached hereto)
5.2.1 In addition to all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made other Rent payable by Tenant hereunder, Tenant agrees to pay as additional Rent its proportionate share of Real Property Taxes levied and assessed against the later of: (i) within thirty (30) days after receipt Building and Project. Real Property Taxes for any fractional portion of Landlord's written statement setting forth a calendar year included in the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year Lease Term shall be prorated on an annual basisthe basis of a 360-day year.
Section 17.2. If 5.2.2 Each year, Landlord shall notify Tenant of its proportionate share of the demised premises Real Property Taxes payable by Tenant hereunder and Tenant shall pay Landlord the amount payable by Tenant at the time and in the manner provided by Article 7 of this Lease.
5.2.3 Tenant's proportionate share of Real Property Taxes for the Building shall be the ratio that the square footage of the Premises bears to the total leasable square footage of the Building and other improvements of which the Premises are a part, or if such Building and improvements are not separately assessed, ------------ the total leasable square footage of the buildings and improvements constituting the Project. Tenant's liability proportionate share of Real Property Taxes for the Project (to be used if the Building and improvements of which the Premises are a part are not separately assessed and if any Real Property Taxes are assessed against the Project generally [including with respect to any Common Areas] and not a particular building in the Project) shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy ratio that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, Premises bears to the total leasable square footage of the buildings and improvements constituting the Project. Tenant's proportionate share on the act Commencement Date is set forth in the Basic Provisions; said proportionate share is subject to adjustment periodically as of entering into this Leasethe time each installment of Real Property Taxes is due.
5.2.4 Tenant shall pay to Landlord Tenant’s proportionate share of the Real Property Taxes in each calendar year; provided, or on however, Landlord may, at its election, require that Tenant pay any increase in the occupancy assessed value of the Project based upon the value of the Tenant however describedImprovements (as defined in the Exhibit B), if any, relative to the value of the other improvements on or to the other buildings in the Project, as reasonably determined by Landlord. Upon Tenant’s request, Landlord shall endeavor to provide Tenant with a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in breakdown of Landlord’s determination of Tenant’s increased share of Real Property Taxes resulting from the futureTenant Improvements.
Appears in 1 contract
Sources: Industrial Lease (Appfolio Inc)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments As Additional Rent and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose in accordance with Paragraph 4.D of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real propertyLease, Tenant shall pay to Landlord, monthly in advance or as they become due, pursuant to statements submitted by Landlord, Tenant’s Proportionate Share of all Real Property Taxes relating to the Premises accruing with respect to the Premises during the Term of this Lease and the Extended Term (if any). The term “Real Property Taxes” shall also include supplemental taxes related to the period of Tenant’s Term whenever levied, including any such taxes that may be levied after the Term has expired. In the event the Premises leased hereunder consist of only a portion of the entire tax parcel, Tenant shall pay to Landlord the taxes attributable monthly in advance or as they become due, pursuant to statements submitted to Tenant by Landlord, Tenant’s Proportionate Share of such real estate taxes allocated to the later of: (i) within Premises by square footage or other reasonable basis as calculated and determined by Landlord. If the tax billing pertains 100% to the Premises, and Landlord chooses to have Tenant pay said real estate taxes directly to the Tax Collector, then in such event it shall be the responsibility of Tenant to obtain the tax and assessments bills and pay, no less than ten (10) days after receipt prior to delinquency, the applicable real property taxes and assessments pertaining to the Premises, and failure to receive a b▇▇▇ for taxes and/or assessments shall not provide a basis for cancellation of a written statement setting forth or non-responsibility for payment of penalties for nonpayment or late payment by Tenant. The term “Real Property Taxes”, as used herein, shall mean (i) all taxes, assessments, levies and other charges of any kind or nature whatsoever, general and special, foreseen and unforeseen (including all installments of principal and interest required to pay any general or special assessments for public improvements and any increases resulting from reassessments caused by any change in ownership of the taxes applicable Premises) now or hereafter imposed by any governmental or quasi-governmental authority or special district having the direct or indirect power to Tenant's propertytax or levy assessments, which are levied or assessed against, or with respect to the value, occupancy or use of, all or any portion of the Premises (as now constructed or as may at any time hereafter be constructed, altered, or otherwise changed) or Landlord’s interest therein; any improvements located within the Premises (regardless of ownership); the fixtures, equipment and other property of Landlord, real or personal, that are an integral part of and located in the Premises; or parking areas, public utilities, or energy within the Premises; (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for hereincharges, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state levies or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar incomeBUILDING: 1098 Alta PROPERTY: 1-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.0001
Appears in 1 contract
Sources: Lease Agreement (Sonics, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for 5.2.1 In addition to all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made other Rent payable by Tenant hereunder, Tenant agrees to pay as additional Rent its proportionate share of Real Property Taxes levied and assessed against the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting Project, which are part and included in the initial estimated Operating Costs set forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date in Section F of the fiscal tax year, Tenant's liability Basic Provisions of the Lease. Real Property Taxes for taxes for any fractional portion of a calendar year included in the last partial lease year Lease Term shall be prorated on an annual basisthe basis of a 360-day year. Real Property Taxes shall not include any of the following and Tenant shall not be obligated to pay, whether as additional rent or otherwise, any increase in Real Property Taxes Landlord’s Initials Tenant’s Initials resulting under Proposition 13 from reassessment of the Development (or any portion thereof) as a result of a sale or transfer of the Development (or any portion thereof) that occurs within the initial Term of the Lease.
Section 17.2. If 5.2.2 Each year, Landlord shall notify Tenant of its proportionate share of the demised premises Real Property Taxes payable by Tenant hereunder and Tenant shall pay Landlord the amount payable by Tenant at the time and in the manner provided by Article 7 of this Lease.
5.2.3 Tenant’s proportionate share of Real Property Taxes shall be the ratio that the square footage of the Premises bears to the total leasable square footage of the Building and other improvements of which the Premises are a part, or if such Building and improvements are not separately assessed, ------------ Tenant's liability shall be an equitable proportion the total leasable square footage of the real property taxes for all buildings and improvements constituting the Project. Tenant’s proportionate share on the Commencement Date as set forth in the in Section C of the land and improvements included within Basic Provisions; said proportionate share is subject to adjustment periodically as of the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusivetime each installment of Real Property Taxes is due.
Section 17.3. 5.2.4 Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Landlord Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation ’s proportionate share of the actual cost of modification or improvements to the areas, facilities and improvements maintained Real Property Taxes in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation each calendar year as part of the original cost of construction of all items not previously mentioned in this sentence. If Operating Costs; provided, however, Landlord shall may, at its election, require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- that Tenant shall pay any increase in "real property taxes" resulting from any and all improvements the assessed value of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-Project based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy value of the Tenant however describedImprovements (as defined in Exhibit B), if any, relative to the value of the other improvements on or to the other buildings in the Project, as reasonably determined by Landlord. Upon Tenant’s request, Landlord shall endeavor to provide Tenant with a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in breakdown of Landlord’s determination of Tenant’s increased share of Real Property Taxes resulting from the futureTenant Improvements.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termentire term of this Lease. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease (Broadbase Software Inc)
Real Property Taxes. Section 17.1. From and after the Rent Commencement Date only, Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable agrees to pay an amount equal to the demised premises during full value of Real Property Taxes levied upon the demised term. Such taxes, assessments Land and fees shall the Premises as would otherwise be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant due from a non-exempt owner before the later of: of (i) within thirty (30) days after following Tenant’s receipt of Landlord's written statement setting forth the amount tax invoice, of such computation thereof, or (ii) the date such taxes would be delinquent. Landlord shall ensure that the Land will be assigned separate assessor parcel numbers and will not be assessed as part of any other real property owned by Landlord or other parties. “Real Property Taxes” means real estate taxes levied or assessed against the thirtieth (30thPremises and the Land as finally determined to be legally payable by legal proceedings after taking into account any available discount, excluding any interest or penalty for late payment. The term “Real Property Taxes” as used in this Lease shall be deemed to exclude any transfer, gift, succession, mortgage, capital stock, corporation, income or profit taxes, or Landlord’s gross profit tax, or any special assessment(s) day prior to for highway, street, or traffic control improvements, for sanitary or storm sewers, for utilities, or for other off-site improvements in connection with the delinquency date development of the Premises where the work in connection with such off-site improvements shall have been commenced on or before the Commencement Date, or for any income, franchise, corporate, personal property, capital levy, capital stock, gross receipts, excess profits, transfer, revenue, estate, inheritance, gift, devolution or succession tax payable by Landlord, or any other tax or assessment upon, or measured by, the rent payable by Tenant hereunder. If any tax or assessment may be paid in installments under applicable laws, only the current annual installment for such tax, tax or assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the meaning of the term “Real Property Taxes.” If Landlord shall actually receive a refund of real estate charges for any tax parcel assessedyear in which Tenant has paid its proportionate share of real estate charges, Landlord shall refund Tenant’s proportionate share of such proportion refund to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereofTenant, in good faith, and this provision shall be conclusive.
Section 17.3survive termination of this Lease. Tenant shall pay prior have the right to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of contest Real Property Taxes so long as Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay indemnifies Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, liability as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the futureresult thereof.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for pay all general and special real property ------------ taxes, assessments (including, without limitation, change in ownership taxes or assessments), liens, bond obligations, license fees or taxes and ongoing sewer fees any similar impositions in-lieu of other impositions now or previously within the definition of real property taxes or assessments and any and all assessments under any covenants, conditions and restrictions affecting the Premises (collectively "Real Property Taxes") which may be levied or assessed against the Premises applicable to the demised premises during period from the demised Early Occupancy Date with respect to Parcel 1, and the Actual Commencement Date for Parking Lot with respect to Parcel 2, until the expiration or sooner termination of this Lease. Notwithstanding the foregoing provisions, if the Real Property Taxes are not levied and assessed against the Premises as separate tax parcels, then Tenant shall pay Tenant's pro rata share of all Real Property Taxes which may be levied or assessed by any lawful authority against the land and improvements of the separate tax parcel on which the Premises are located. Tenant's pro rata share under such circumstances shall be apportioned according to the floor area of the Premises as it relates to the total leasable floor area of all of the buildings (including the Premises) situated in the separate tax parcel in which the Premises is located. Tenant reserves the right to approve any assessment of public improvements that may affect the Premises to the extent Landlord has such night. Any future assessments for public improvements may be paid by Landlord in full or in installments, but Tenant's contribution will be determined and payable based on the assumption that such assessments were allowed to go to bond and became payable in installments. All Real Property Taxes for the tax year in which the Early Occupancy Date and the Actual Commencement Date for Parking Lot occur and for the tax year in which this Lease terminates shall be apportioned and adjusted so that Tenant shall not be responsible for any Real Property Taxes for a period of time occurring prior to the Early Occupancy Date and the Actual Commencement Date for Parking Lot or subsequent to the expiration of the Lease term. Such taxes, assessments and fees shall Tenant agrees to pay to the taxing authority entitled thereto the total Real Property Taxes due. Any of said payments to be prorated made directly to lease years for purpose of making this computation. Such payment the taxing authority shall be made prior to the delinquency date established by the taxing authority, and Tenant the later of: (i) shall, concurrently with such payment, deliver evidence of such payment to Landlord. Failure of Tenant to pay said Real Property Taxes as and when herein specified shall, in addition to all other rights and remedies of Landlord hereunder, subject Tenant to any fine, penalty, interest, or cost which Landlord may incur as a result thereof. Tenant shall, within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereofdemand, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surchargessuch fine, feespenalty, interest, or cost, together with interest thereon at the Interest Rate. If at any time during the Term under the laws of the United States, or the state, county, municipality, or any political subdivision thereof in which the Premises is located, a tax or excise on rent or any other tax however described is levied or assessed by any such political body against Landlord on account of rent payable to Landlord hereunder or any tax based on or measured by expenditures made by Tenant on behalf of Landlord, such tax or excise shall be considered "Real Property Taxes" for purposes of this Section 10.1, and any similar charges required to shall be paid payable in full by any instrumentality of local, state Tenant. Such taxes or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation excises shall be payable within ten (IO) days after Tenant's receipt of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said coststax bill therefor fr▇▇ ▇andlord.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for agrees to pay to Landlord, prior to delinquency, all real property ------------ taxes, assessments and ongoing sewer fees "taxes applicable to the demised premises during the demised term. Such Property," which shall include taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereofassessments, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, bonds and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges charges imposed by any agency government entity on The Property, any special assessments imposed on The Property for the construction or instrumentality improvement of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises public works for the benefit of The Property, and any tax, fee, or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be excise levied, assessed or imposed upon the rent or other payments provided for herein or assessed, and/or based on rent, on the square footage of the demised premisesThe Property, on the act of entering into this Lease, or on the occupancy of the Tenant Tenant's occupancy, or any other tax, fee, or excise, however described, as a direct in substitution in whole or in part for, or in addition toto taxes applicable to The Property, including, without limitation, a so-called value added tax; provided, however, that Tenant shall not be required to pay any real property municipal, county, state, or federal income or franchise taxes of Landlord or transfer taxes of Landlord. With respect to any assessments which may be levied against or on The Property and which under the laws then in force may be evidenced by improvement or other bonds or may be paid in annual installments, there shall be included within the definition of "taxes applicable to The Property," with respect to any tax fiscal year, only the current annual installment for such tax fiscal year. In the event The Property is not separately assessed, then the taxes, whether pursuant assessments and other charges shall be apportioned upon the ratio of total number of square feet in The Property to laws presently existing or enacted the total number of square feet in all offices in The Building. Within a reasonable time after the date Landlord receives each tax ▇▇▇▇ covering The Property, Landlord shall notify Tenant in writing of the following: (1) the total taxes applicable to The Property for the tax fiscal year in question; and (2) the basis for calculating the taxes applicable to The Property. Tenant's liability to pay taxes applicable to The Property shall be prorated on the basis of a 365-day year to account for any fractional portion of a tax fiscal year included in the futureterm at its commencement and expiration. After expiration or termination of the term, Tenant shall pay to Landlord, immediately on demand, the amount remaining unpaid toward Tenant's obligation to pay taxes applicable to The Property for the partial tax fiscal year included in the term at its end, or Landlord shall pay to Tenant any excess amounts Tenant shall have paid to Landlord for such last tax fiscal year included in the term at its end, provided Tenant is not in default.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse pay to Landlord for all real property ------------ taxesin the manner set forth in Section 8 below, assessments and ongoing sewer fees applicable as Additional Rent, Tenant's Percentage Share of Real Property Taxes attributable to the demised premises tax parcel within which the Building is located and the portion of Real Property Taxes attributable to the developed Common Facilities in the Project (including, but not limited to, common detention ponds, the central park area, Building and Project roads, Building and Project landscaping, etc.) allocated by Landlord to the Building based on the Building's pro rata share thereof (as such pro rata share is reasonably determined by Landlord) (collectively, "Tenant's Percentage Share of Real Property Taxes"). Landlord shall not allocate to Tenant any portion of any Real Property Taxes attributable to undeveloped portions of the Project, developed portions of the Project held for lease (excluding the Building), or developed portions of the Project that are not Common Facilities. Tenant's obligation to pay Tenant's Percentage Share of Real Property Taxes during the demised termTerm shall survive the expiration or early termination of this Lease provided that Landlord invoices Tenant for such amounts no later than two (2) years after such expiration or early termination. Such taxesIf this Lease shall commence or terminate on a day other than the first or last day of a calendar year, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth respectively, the amount of such computation thereof, or (ii) Tenant's Percentage Share of Real Property Taxes payable by the thirtieth (30th) day prior to the delinquency date Tenant for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease calendar year shall be prorated on an annual basis.
Section 17.2the basis of a 365 day year and shall be due and payable when rendered notwithstanding termination of this Lease provided that Landlord invoices Tenant for such amounts no later than two (2) years after such expiration or early termination. If the demised premises are not separately assessed, ------------ Tenant's liability Percentage Share of Real Property Taxes allocable to the calendar year in which this Lease commences or terminates shall be an equitable proportion of deemed to have been incurred evenly over the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: entire twelve (i12) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction month period of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costscalendar year.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxesReal Property Taxes assessed against the Premises, assessments and ongoing sewer fees applicable payable with respect to the demised premises any period, during the demised term. Such taxes, assessments and fees term of the Lease paid by Landlord; provided that Tenant's share of Real Property Taxes which first become due during the term hereof shall be prorated on a per diem basis such that Tenant shall only be responsible for the proportionate share of such Real Property Taxes attributable to lease years for purpose of making this computationthe period Tenant had occupancy rights hereunder. Such payment Tenant shall be made by Tenant the later of: (i) pay such amounts to Landlord within thirty (30) days after receipt of following written demand from Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior which demand must include to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes deemed valid hereunder true and accurate bills for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably availableReal Property Taxes for which reimbursement is sought. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for As used herein, the ------------ Tenant term "Real Property Taxes" shall on demand reimburse Landlord for include any surchargesform of real estate tax or assessment, feesgeneral, special, ordinary or extraordinary, and any similar charges required to be paid license fee, commercial rental tax, improvement bond or bonds, levy, or tax (other than inheritance, personal income or estate taxes) imposed upon the Premises by any instrumentality of localauthority having the direct or indirect power to tax, state or federal government in connection with parking in the parking areaincluding, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of localcity, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, levied against any legal interest of Landlord in the Premises or in the real property of which the Premises are a part. Landlord represents that it has provided Tenant with true and accurate copies of all bills for Real Property Taxes for the past twelve (ii12) installed months and that there are no pending special assessments or increased assessments or other pending new or increased costs of which are defined as Real Property Taxes hereunder of which notice has been sent to the Premises or to Landlord or of which Landlord has otherwise become aware. Notwithstanding anything contained herein to the contrary, Tenant shall not be obligated to pay any portion of any special assessment, bond or other tax-related obligation that is payable with respect to any period after the term of this Lease has expired. If Tenant desires to contest the validity of any taxes or assessments for which Tenant is ultimately responsible, Tenant may do so without being in default under its obligation to pay taxes and assessments, provided Tenant institutes appropriate legal proceedings to contest the validity of the tax or assessment. Tenant shall prevent the sale of any tax certificate or the Premises or any property subject to the tax lien by reason of nonpayment of the tax or assessment being contested in such legal proceedings. If Tenant fails to prevent any such sale, Tenant shall deposit with Landlord at least thirty (30) days before the contested tax or assessment would become delinquent for nonpayment (or within ten (10) days of dissolution of the injunction), an amount which is sufficient to pay in full the contested tax or assessment, including, without limitation, all penalties and court costs if the adjudication in such proceedings should be adverse to Tenant. Landlord shall have the right to make any such payment; provided, however, Landlord shall refund to Tenant any portion of the deposit retained by Landlord to facilitate payment of a parking charge which shall be determined by the general public for parking in court not to be due to the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction taxing authorities on account of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentencetaxes, penalties or costs. If Landlord shall require the payment of a parking charge by the general public for parking not be obligated to incur any expense in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by connection therewith unless Tenant agrees to reimburse Landlord for such parking charge shall be credited against said costsexpenses.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Real Property Taxes. Section 17.1Tenant shall pay before delinquent all Real Property Taxes, as defined below, assessed against the Premises during the term of this Lease. "Real Property Taxes" shall be defined as any form of real estate tax or assessment, general, special, ordinary or extraordinary, including any business license fee, commercial rental tax, improvement bond or bonds, levy or tax, but shall not include any municipal, county, state or federal income or franchise tax of any municipal, county or state. If at any time during the term of the Lease, the laws concerning the methods of real property taxation are changed so that a tax or excise on rents or other such tax, fee, levy, assessment or charge, however described, is levied or assessed against Landlord as a direct substitution in whole or in part for any Real Property Taxes, then Tenant shall pay before delinquency Tenant's proportionate share of such substitute tax, excise or other amount. Tenant shall reimburse not be obligated to pay any increase in Real Property Taxes that result from a change in ownership of the Premises. Tenant shall pay to Landlord the Real Property Taxes assessed against the Premises in twelve (12) equal monthly installments for each year of the Lease term commencing on the Commencement Date. Landlord shall provide to Tenant reasonable documentation evidencing the amount of Real Property Taxes payable with respect to calendar year 1994, and the calculation of the monthly Real Property Taxes payable by Tenant to Landlord commencing on the Commencement Date. In the event that the amount actually paid to Landlord for all real property ------------ taxesany calendar year is less than the amount Tenant is obligated to pay hereunder, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees then Tenant shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of such documentation from Landlord's written statement setting forth , pay the amount of such computation thereofdifference to Landlord. Further, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. event Tenant shall pay prior has paid more to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking areathan obligated hereunder, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge excess shall be credited against said costs.
Section 17.5. Notwithstanding the provisions future payments of Article 17 hereinaboveReal Property Taxes by Tenant to Landlord; provided that, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements upon expiration of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or Landlord shall immediately reimburse to Tenant any such excess. Real Property Taxes shall be subject to proration in determining Tenant's share thereof on the occupancy basis of the Tenant however describeda three hundred sixty-five (365) day year, as a direct substitution in whole or in part for, or in addition to, order to account for any real property taxes, whether pursuant to laws presently existing or enacted in the futureLease Year of less than twelve (12) full calendar months.
Appears in 1 contract
Sources: Lease (Boystoys Com Inc)
Real Property Taxes. Section 17.1. Tenant A. As used in this Lease, the term "Real Property Tax" shall reimburse Landlord for all real property ------------ include any form of assessment, license fee, rent tax, levy, penalty or tax (other than net income or franchise taxes) imposed by any authority having the direct or indirect power to tax including without limitation any city, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxescounty, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: state or federal government or any improvement or other district or division thereof, whether such tax is (i) within thirty (30) days after determined by the area of the Premises or any part thereof or the rent and other sums payable hereunder by Tenant, including without limitation, any gross income or excise tax levied by any of the foregoing authorities with respect to receipt of Landlord's written statement setting forth the amount of such computation thereofrent or other sums, or (ii) by upon or with respect to any legal or equitable interest of Landlord in the thirtieth Premises or any part thereof, or (30thiii) day prior upon this transaction or any document to which Tenant is a part creating or transferring any interest in the delinquency date for such taxPremises, assessment or fee. If (iv) taxes of every kind and nature levied or assessed in lieu of, in substitution for, or in addition to, existing or additional taxes on the demised term shall Premises whether or not expire concurrently with now customary or within the expiration date contemplation of the parties.
B. On or before April 1 and December 1 of each calendar year during the term of this lease, Tenant shall pay to Landlord, all Real Property Taxes as set forth on the county tax assessor's tax statement for the Premises. Landlord shall give Tenant at last fifteen (15) days prior written notice of the amount so due. Upon Landlord's receipt of said tax payment, Landlord shall pay said taxes, and in the event that Tenant shall fail to pay said taxes on or before April 10 and December 10, respectively, Tenant shall pay to Landlord any penalty incurred by said delinquency. Tenant shall pay any Real Property Tax not included within the county tax assessor's tax statement within ten (10) days after being billed for the same by Landlord. In the event this Lease or any extension thereof shall expire on a date earlier than the end of a fiscal tax year, Landlord shall prepare a statement setting forth the Real Property Taxes to the date of such expiration and the parties shall adjust the Tenant's obligation to pay the Real Property Taxes to the date of the expiration of termination of this Lease.
C. Anything to the contrary notwithstanding contained herein, Tenant shall pay any increases in Real Property taxes resulting from any and all improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant. Tenant's liability for taxes for the last partial lease year to pay any Real Property Tax increase pursuant to this Paragraph 15 shall be prorated pro-rated on an the basis of 365-day year to account for any fractional portion of a fiscal tax year included at the commencement or expiration of the term of the Lease. With respect to any assessment which may be levied against or upon the Premises, or which under the laws then in force may be evidenced by improvements or other bonds or may be paid in annual basis.
Section 17.2. If installments, only the demised premises are not separately assessed, ------------ Tenant's liability amount of such annual installment (with appropriate proration for any partial year) and interest due thereon shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from computation of the respective valuations assigned in annual taxes and assessments levied against the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusivePremises.
Section 17.3. D. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant Tenants contained in in, on or about the demised premises Premises or elsewhere. When possible Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be the assessed and billed separately from the real or personal property of Landlord. If .
E. Failure of Tenant to pay any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid under this Paragraph 15 shall constitute a default under the terms hereof the like manner as failure to pay rental when due.
F. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to pay any portion of any tax or assessment expense or any increase therein (i) levied on Landlord's rental income, unless such tax or assessment expense is imposed in lieu of real property taxes; (ii) in excess of the amount which would be payable if such tax or assessment expense were paid in installments over the longest possible term; (iii) imposed on land and improvements other than the Premises; (iv) attributable to Landlord's net inheritance, gift, transfer, estate or state taxes, or any penalties resulting from Landlord's failure to pay any taxes or assessments in a timely fashion; or (v) resulting from a change of ownership or transfer of any or all of the Premises. Additionally, Tenant shall have the right, by appropriate proceedings, to protest or contest any instrumentality assessment, reassessment or allocation of localproperty taxes or any change therein or any application of any Law to the Premises or Tenant's use thereof. Landlord shall notify Tenant in writing of any change in property taxes within sufficient time to allow Tenant to review and, state if it so desires, to contest or federal government protest such change. In the contest or proceedings, Tenant may act in its own name and/or the name of Landlord and Landlord will, at Tenant's request and expense, cooperate with Tenant in any way Tenant may reasonably require in connection with parking such contest. If Tenant does not pay the property taxes when due which are the subject of such protest or contest, Tenant shall post a bond in the parking area, including policing; supervising with attendants; other costs lieu thereof in connection with providing charged parking; repairs and maintenance an amount reasonably determined by Landlord but not properly chargeable to capital account under good accounting principles; interest and depreciation less than one hundred twenty-five percent (125%) of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge amount demanded by the general public for parking in taxing authorities which holds Landlord and the parking area, or both, and other similar costs; and there shall be excluded Premises harmless from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation any damage arising out of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require contest and ensuring the payment of a parking charge any judgment that may be rendered. With respect to any contest of property taxes or law, Tenant shall hold Landlord and the Premises harmless from any damage arising out of such protest or contest and shall pay any judgment that may be rendered for which Tenant would otherwise be liable under the lease without such contest or protest. Any contest conducted by Tenant under the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge paragraph shall be credited against said costs.
Section 17.5. Notwithstanding the provisions at Tenant's expense and if interest or late charges become payable as a result of Article 17 hereinabovesuch contest or protest, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for same. Tenant shall receive the benefit of or at all refunds of property taxes received with respect to the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or TenantLease term.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease Agreement (Durect Corp)
Real Property Taxes. Section 17.1. Tenant shall reimburse (a) Landlord for will pay in the first instance all real property ------------ taxestaxes (which shall include property tax assessments, assessments water and ongoing sewer fees applicable rent rates and charges, parking and environmental surcharges, and any other governmental charges, general and special, ordinary and extraordinary) which may be levied or assessed by any lawful authority against land or improvements located in the Shopping Center (collectively "Real Property Taxes"). The amounts required to be paid by Landlord or any tenant or occupant of the demised premises during Shopping Center pursuant to any Payment in Lieu of Tax Agreement entered into with a taxing authority having jurisdiction over the demised term. Such taxes, assessments and fees Shopping Center shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes considered for the last partial lease year shall purposes of this Lease to be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusivedefinition of Real Property Taxes.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property (b) During the term of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real propertythis Lease, Tenant shall pay to Landlord as Additional Rent, Tenant's Allocable Share of all Real Property Taxes. Real Property Taxes shall include a charge equal to eighteen percent (18%) of the taxes attributable Real Property Taxes relating to the Common Areas. Tenant's Allocable Share shall be computed under Section 23.03(a) as of the first day of each respective Lease Year. If the Premises are separately assessed, then Tenant agrees to pay to Landlord, as Additional Rent, the later of: amount of the Real Property Taxes separately assessed against the Premises including the land lying thereunder plus Tenant's Allocable Share of the Real Property Taxes assessed against the Common Areas of the Shopping Center.
(ic) Tenant agrees that following the Term Commencement Date, Tenant shall pay to Landlord, as Additional Rent and within ten (10) days after receipt of a written statement setting forth bill therefor, the taxes applicable to amount of Tenant's propertyAllocable Share of all ▇▇▇l Property Taxes, computed as of the Term Commencement Date for the then current tax fiscal year(s). Such amount shall be calculated on the basis of the number of days (from the Term Commencement Date) remaining in each such current tax fiscal year. Thereafter, Tenant shall pay to Landlord, as Additional Rent, all sums due pursuant to Section 4.01 (b) in monthly installments, in advance and without prior notice or (ii) demand, on or before the first day of each month during the term of this Lease, in an amount estimated by Landlord, such that Landlord will have received the thirtieth (30/th/) day prior full amount of Tenant's Allocable Share of Real Property Taxes in time for payment to the delinquency date for such
Section 17.4applicable taxing authority when due. In addition the event Landlord is required to all other payments provided for hereinescrow Real Property Taxes, Landlord may, but shall not be obligated to, use the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges amount required to be paid by any instrumentality escrowed as a basis for its estimate of local, state or federal government in connection the monthly installments due from Tenant hereunder. Landlord shall furnish Tenant with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation a written statement of the actual cost amount of modification Tenant's Allocable Share of Real Property Taxes based upon the tax bills or improvements assessment bills for each tax fiscal year. If the total amount paid by Tenant under this Section 4.01 (c) for any tax fiscal year during the term of this Lease is less than the actual amount due from Tenant for such year as shown on such statement, Tenant shall pay to Landlord the deficiency within ten (10) days after demand therefor by Landlord. If the total amount paid by Tenant hereunder for any year exceeds the amount due from Tenant for such year, Tenant shall be entitled to offset the excess against payments next thereafter becoming due under this Section 4.01 (c). For the tax fiscal years in which this Lease commences and expires, the provisions of this paragraph shall apply and, to the areasextent necessary, facilities and improvements maintained in this Article either (i) required by Tenant's liability for its Allocable Share of any instrumentality Real Property Taxes for such year shall be subject to a pro rata adjustment based on the appropriate number of local, state days of said tax fiscal years. A copy of a tax bill or federal government, or (ii) installed assessment bill submitted by Landlord to facilitate payment Tenant shal▇ ▇▇ all times be s▇▇▇▇cient evidence of the amount of Real Property Taxes to which such bill relates. Without representation or warranty of any kin▇, ▇andlord estimates, as of the date of this Lease, based upon the 2003 tax fiscal year (defined as the period from July 1, 2002 to June 30, 2003 for school taxes and January 1, 2003 to December 31, 2003 for town and county taxes), Tenant's Allocable Share of Real Property Taxes for said 2003 tax fiscal year is estimated to be Seven and 84/100 Dollars ($7.84) per square foot of floor area within the Premises (as set forth in Section 1.01 of this Lease) as calculated pursuant to Section 23.03 of this Lease (which amount includes a parking charge equal to eighteen percent (18%) of the Real Property Taxes relating to the Common Areas). Such amount is subject to adjustment based upon increases in tax assessments or rates affecting such tax fiscal year.
(d) In an attempt to control the costs for off-site improvements which are required by governmental authorities for the general public development, operation or expansion of the Shopping Center (for parking example: highway improvements, sewer and water facilities), Landlord may agree with such governmental authorities to be responsible for the construction of such off-site improvements. In such case, upon notice from Landlord, Tenant shall pay to Landlord, as Additional Rent and in lieu of any special district real estate taxes relating to such improvements which could otherwise be imposed against the Shopping Center if such improvements were constructed under governmental responsibility, an annual charge representing Tenant's Allocable Share of the amortized cost of such facilities. Tenant's Allocable Share of such costs shall be computed in the parking areasame manner as used to compute Tenant's Allocable Share of Real Property Taxes as provided in Section 4.01(b) above. This annual charge shall be paid by Tenant in equal monthly installments, in advance, on the first day of each calendar month during the term of this Lease.
(e) Landlord may seek a reduction in the assessed valuation (for Real Property Tax purposes) of the Shopping Center or bothany portion thereof by administrative or legal proceeding. Tenant shall pay to Landlord Tenant's Allocable Share of Landlord's costs for said proceedings, including counsel fees, appraisal fees and other similar costs; and there expenses, within ten (10) days after Tenant's receipt of a statement from Landlord therefor. Tenant's Allocable Share of such costs shall be excluded from all of Article 17
(acomputed under Section 23.03(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentencehereof. If Landlord shall require the payment reimburse Tenant for Tenant's Allocable Share of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue refund of Real Property Taxes (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality unpaid portion of local, state or federal government) actually received in cash or its equivalent by Landlord Tenant's Allocable Share of Landlord's costs for such parking charge shall be credited against said costsproceedings) resulting from any proceeding for which Tenant has paid Tenant's Allocable Share of Real Property Taxes.
Section 17.5. Notwithstanding (f) Should any alteration or improvement performed by or for Tenant during the provisions term of Article 17 hereinabovethis Lease cause an increase in assessment, ------------ ---------- Tenant shall pay any to Landlord the full cost of all Real Property Taxes resulting from such increase in "real property taxes" resulting from assessment. Any amount paid separately hereunder by Tenant to Landlord shall be in addition to any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of amounts paid by Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenantpursuant to Section 4.01(b).
Section 17.6. In addition (g) Should any governmental taxing authority acting under any present or future law, ordinance or regulation, levy, assess or impose a tax, excise, surcharge or assessment upon or against the rents payable by Tenant to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this LeaseLandlord, or on upon or against the occupancy Common Areas, whether by way of the Tenant however described, as a direct substitution in whole or in part for, for or in addition toto any existing Real Property Tax or otherwise, any real property taxes, whether pursuant to laws presently existing or enacted Tenant shall be responsible for and shall pay Tenant's Allocable Share of such tax in the futuremanner provided in Section 4.01(c).
Appears in 1 contract
Sources: Shopping Center Lease (Headliners Entertainment Group, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for Real property taxes and all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees other prorations shall be prorated to lease years for purpose assessed against Purchaser as of making this computation. Such payment the Closing Date and, thereafter, all risk of loss shall be made borne by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or feePurchaser. If the demised term shall not expire concurrently with the expiration date Purchaser acknowledges that as of the fiscal tax yearClosing Date, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are Lot might not have been assessed as a separately assessed, ------------ Tenant's liability shall be an equitable proportion described parcel of the real estate and that real property taxes for the Lot for the current year might be assessed under a tax bill in the name of Seller, which covers the entire Subdivision. If that is the case, ▇▇▇▇▇▇▇▇▇ agrees to pay to Seller at closing that portion of the current tax assessment for the Subdivision (based on the estimated appraised value of the property in which the Lot is located as determined by Seller) which shall be determined by multiplying the total tax bill by a fraction, the numerator of which shall be the acreage of the Lot and the denominator of which shall be the total acreage of all of the land and improvements included lots within the Subdivision covered by the tax parcel assessedbill, and then prorating the product of such proportion multiplication as of the Closing Date. ▇▇▇▇▇▇ agrees to be determined by Landlord pay the entire tax bill before it becomes delinquent and, upon written request from Purchaser, to provide Purchaser with proof of payment. If the amount allocated to Purchaser is based upon an estimate and the actual bill for the Subdivision, or if assessed separately, the Lot, varies from the respective valuations assigned in estimate, Seller shall have the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereofright to adjust the prorated amount and, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after of receipt of a written statement setting forth the taxes applicable to Tenant's propertynotice, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant Purchaser shall pay any increase in "increased amount to Seller. If the Lot is a separately described and assessed parcel of real estate for real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in tax purposes, real property taxes assessed against the demised premises Lot for the benefit year in which closing occurs shall be prorated as of or 12:01 a.m. on the Closing Date. If the current year's taxes have not been determined at the request time of Tenant regardless closing, proration shall be based on the previous year's taxes. After the actual amount of whether said improvements were installed taxes for the Subdivision, or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for hereinif assessed separately, the ------------ Tenant Lot, for the year of closing has been determined, Seller has the right to adjust the prorated amount and, within ten (10) days of receipt of notice, Purchaser shall on demand reimburse Landlord for pay any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant increased amount to laws presently existing or enacted in the futureSeller.
Appears in 1 contract
Sources: Purchase Agreement
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for agrees to pay the Building's Share of all general and special real property ------------ taxes, assessments (including, without limitation, change in ownership taxes or assessments), liens, bond obligations, license fees or taxes and ongoing sewer fees any similar impositions in-lieu of other impositions now or previously within the definition of real property taxes or assessments and any and all assessments under any covenants, conditions and restrictions affecting the Project (collectively "REAL PROPERTY TAXES") which may be now or hereafter levied or assessed against the Project applicable to the demised premises period from the Early Occupancy Date, until the expiration or sooner termination of this Lease. Notwithstanding the foregoing provisions, if the Real Property Taxes are not levied and assessed against the entire Project by means of a single tax ▇▇▇▇ (i.e., if the Project is separated into two (2) or more separate tax parcels for purposes of levying and assessing the Real Property Taxes), then, at Landlord's option, Tenant shall pay Tenant's pro rata share of all Real Property Taxes which may be levied or assessed by any lawful authority against the land and improvements of the separate tax parcel on which the Premises are located. Tenant's pro rata share under such circumstances shall be apportioned according to the floor area of the Premises as it relates to the total leasable floor area of all of the buildings (including the Premises) situated in the separate tax parcel in which the Premises is located. Notwithstanding anything in this Section 10.1 to the contrary, "Real Property Taxes" shall not include Landlord's federal or state income, franchise, inheritance or estate taxes. Upon Tenant's request, Landlord shall, at Tenant's sole cost and expense, contest the amount of Real Property Taxes for the Project, which contest shall be undertaken in a manner to be reasonably determined by Landlord. All Real Property Taxes for the tax year in which the Early Occupancy Date occurs and for the tax year in which this Lease terminates shall be apportioned and adjusted so that Tenant shall not be responsible for any Real Property Taxes for a period of time occurring prior to the Early Occupancy Date or subsequent to the expiration of the Lease term. The amount to be paid pursuant to the provisions of this Section 10.1 shall be paid monthly in advance as part of Tenant's Monthly Operating Expense Charge as estimated by Landlord based on the most recent tax bills and estimates of reappraised values (if reappraisal is to occur), commencing with the month (or partial month on a prorated basis if such be the case) that the Commencement Date occurs. The initial estimated monthly charge for the Building's Share of Real Property Taxes is included in the Monthly Operating Expense Charge as provided in Section 4. Notwithstanding anything in this Lease to the contrary, Tenant shall be solely responsible for, and shall pay directly to Landlord (in addition to Tenant's Monthly Operating Expense Charge pertaining to Real Property Taxes), any increase in Real Property Taxes on account of any improvements made to the Premises by Tenant including, but not limited to, the Tenant Improvements. If at any time during the demised term. Such taxesTerm under the laws of the United States, assessments and fees shall be prorated or the state, county, municipality, or any political subdivision thereof in which the Premises is located, a tax or excise on rent or any other tax however described is levied or assessed by any such political body against Landlord on account of rent payable to lease years for purpose of making this computation. Such payment shall be Landlord hereunder or any tax based on or measured by expenditures made by Tenant the later of: (i) on behalf of Landlord, such tax or excise shall be considered "Real Property Taxes" for purposes of this Section 10.1, and shall be payable in full by Tenant. Such taxes or excises shall be payable within thirty (30) days after Tenant's receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord ▇▇▇▇ therefor from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Single Tenant Industrial Lease (Alliance Pharmaceutical Corp)
Real Property Taxes. Section 17.1From and after the Term Commencement Date, Tenant shall pay, prior to delinquency, all Real Property Taxes applicable to the Premises during the Lease Term (except the Interim Term); including, without limitation, the real property taxes and assessments applicable to the Premises as shown on the tax ▇▇▇▇ or bills for the most recent calendar year. If the improvements of the Premises, including, without limitation, the Building, are not completed on the tax lien date of such calendar year, Tenant's share of Real Property Taxes shall be adjusted in proportion to the taxes during such calendar year compared with taxes shown on the first tax ▇▇▇▇ showing the full assessed value of the Premises after completion of the improvements, including, without limitation, the Building. Tenant shall reimburse Landlord for make timely payment of all real property ------------ taxes, assessments and ongoing sewer fees applicable Real Property Taxes directly to the demised premises during the demised term. Such taxes, assessments tax collecting authority and fees shall be prorated provide evidence to lease years for purpose Landlord of making this computation. Such such payment shall be made by Tenant the no later of: (i) within than thirty (30) days before the delinquency thereof. Tenant acknowledges that Real Property Taxes attributable to the Lease Term (but not the Interim Term) will be due and payable after receipt the expiration of Landlord's written statement setting forth the Lease. Both parties agree to calculate those Real Property Taxes based on the last known assessment and millage rate and Tenant shall pay said amount to Landlord at the expiration of this Lease. If any such computation thereof, or (ii) by the thirtieth (30th) day taxes shall cover any period of time prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with after the expiration date or termination of the fiscal tax yearLease Term, Tenant's liability for share of such taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion to cover only that portion of the real property tax ▇▇▇▇ applicable to the period that the Lease Term (but not the Interim Term) is in effect and Landlord shall reimburse Tenant for any overpayment. In the event that Landlord becomes obligated to a mortgagee to make payments for taxes for all and assessments in accordance with the terms of the land and improvements included within the tax parcel assessedmortgage, such proportion to be determined upon notice thereof by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay to Landlord on the payment dates for Base Rent, the amounts required by the mortgage. Tenant shall not be liable to Landlord, any mortgagee, or any third party for any taxes attributable and assessments with respect to the Premises for which Tenant has deposited available funds with Landlord to pay such taxes and assessments. Tenant shall satisfy the requirements of any public or private incentives, abatements or other benefits awarded to Tenant or the later of: (i) within ten (10) days after receipt Premises and Tenant shall indemnify and hold Landlord harmless from any Claim resulting at any time during the Lease Term or thereafter as a result of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior failure to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of satisfy such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costsrequirements.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease Agreement (SunOpta Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of governmental requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall on account of governmental requirements require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based taxtax and state franchise fees) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Sublease Agreement (Asterias Biotherapeutics, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for will pay, as additional rent, Sixteen and Seven- Tenths Percent (16.7%) of all real property ------------ taxestaxes and general and special assessments. ("Real Property Taxes") levied and assessed against the Premises, assessments the Building, the land underlying the Building, any legal or equitable interest of Landlord in the building and ongoing sewer fees applicable the land underlying the Building, and any portion of such Building, land or legal or interest, prorated during the first and last years of the Term so that Tenant pays only for those days actually within the Term, plus one hundred percent (100%) of all Real Property Taxes and general and special assessments, and one hundred percent (100%) of any increased Real Property Taxes in Lease years subsequent to the demised premises during year in which such general or special assessments are made, which are caused by or attributable to Tenant's Improvements and any Subsequent Alterations to the demised term. Such taxesPremises made by Tenant, assessments and fees all of which shall be prorated to lease years for purpose considered "Tenant's Percentage Share" of making this computationReal Property Taxes. Such payment shall be made by Periodically, Landlord will notify Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently Real Property Taxes and provide Tenant with the expiration date a copy of the fiscal tax yearbill, and Tenant will pay Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are Percentage Share to Landlord not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within than ten (10) days after receipt of a written statement setting forth the taxes applicable Landlord presents the Real Property Tax bill to the Tenant's property, . Landlord shall be obligated to pay all Real Pro▇▇▇▇y Taxes levied or (ii) by assessed against the thirtieth (30/th/) day Premises prior to the delinquency date for such
Section 17.4thereof. In addition to For purposes of this Section, Real Property Taxes means and includes all other payments provided for hereintaxes and assessments assessed, imposed or levied during any fiscal tax year which occurs wholly or partially during the ------------ Tenant shall on demand reimburse Landlord for any surchargesTerm of this Lease, feesincluding taxes, assessments and reassessments which are special, unforeseen, or extraordinary as well as those which are regular, foreseen or ordinary, and including any similar charges required to be paid transfer tax, license or permit fee, commercial rental tax, utility tax, improvement bond or bonds, levy or tax (other than inheritance or estate tax) imposed by any instrumentality of local, state authority having the direct or federal government in connection with parking in the parking areaindirect power to tax, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areasany city, facilities and improvements maintained in this Article either (i) required by any instrumentality of localcounty, state state, or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking areaany school, agricultural, sanitary, fire, street, drainage, transit, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentenceimprovement district thereof. If Landlord shall require the payment of any governmental authority imposes, assesses, or levies a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed tax on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or any other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, tax upon Landlord as a direct substitution substitute in whole or in part forfor any Real Property Tax or assessment, the substitute tax shall be deemed to be an increase in Real Property Tax and shall be deemed to have been levied and assessed against the Premises, to the extent of the amount allocable thereto. The term Real Property Tax shall also include any tax, fee, levy, assessment, or charge (i) in substitution of or in addition to, partially or totally, any real property taxestax, whether pursuant to laws presently existing fee, levy, assessment, or enacted charge included in this Section in the futuredefinition of Real Property Tax, (ii) the nature of which was included within the definition of Real Property Tax, (iii) which is imposed by reason of this transaction, any modifications or changes hereto, or any transfers hereof, including without limitation those related to any loss of or change in Landlord's status as a nonprofit public benefit corporation under the laws of the State of California, or (iv) which is imposed directly, solely or partially as a result of any loss of or change in Landlord's status as a nonprofit public benefit corporation under the laws of the State of California. If Landlord is required to impound Real Property Taxes on a periodic basis during the Term, Tenant will pay its proportionate share of Real Property Taxes to Landlord in accordance with all such requirements.
Appears in 1 contract
Sources: Lease (FNB Bancorp/Ca/)
Real Property Taxes. During the Term (including any Extended Terms), Tenant will pay or cause to be paid, prior to delinquency, its allocated share (as set forth in this Section 17.17.1) of real property taxes and assessments ("TAXES") levied or assessed against the Premises, the Building and all improvements on the Premises. Taxes will be prorated between the parties for any partial year at the commencement and expiration or other termination of this Lease. The Premises are (or will be placed into) a separate tax lot, and Tenant will pay the taxes attributable to such tax lot as its allocated share. If the Premises at any time is not a separate tax lot, then Tenant will be responsible for paying to its allocated share of Taxes levied or assessed against the tax lot that includes the Premises, based on the assessed values of land and improvements shown in the tax statement for the tax lot that includes the Premises. Tenant's allocated share of Taxes pertaining to the land will be based on the area of the Premises compared to the entire area covered by the tax statement, and Tenant's allocated share of Taxes pertaining to improvements will be based on the assessed value of Tenant's improvements on the Premises compared to the assessed value of all improvements covered by the tax statement. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose will pay its allocated share of making this computation. Such payment shall be made by Tenant the later of: (i) Taxes within thirty (30) days after receipt of the date such Taxes are due to the taxing authority so long as Tenant has received Landlord's written statement setting forth notice of the amount due from Tenant, including a copy of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or feetax statement and a written summary of how Tenant's allocated share was computed. If assessed values for land and/or improvements are not available from the demised term shall not expire concurrently with the expiration date of the fiscal tax yearcounty assessor's office, then Tenant's liability for taxes for allocated share of Taxes will be determined in the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ same manner as Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether Proportionate Share pursuant to laws presently existing or enacted in the futureSection 6.4.
Appears in 1 contract
Sources: Purchase Agreement (Aei Real Estate Fund Xviii Limited Partnership)
Real Property Taxes. Section 17.1. (a) The Tenant shall reimburse pay as Additional Rent to the Landlord, or to the taxing Authorities if the Landlord so directs, and discharge in each year during the Term and within the times provided for by the taxing Authorities:
(i) all Real Property Taxes levied, rated, charged or assessed from time to time, respectively, against the Premises or any part thereof, on the basis of a separate real property ------------ taxestax b▇▇▇ and separate real property assessment notices rendered by any lawful taxing Authority; and
(ii) the Tenant’s Proportionate Share of all Real Property Taxes levied, rated, charged or assessed from time to time, respectively, against the Common Areas, or any part thereof, on the basis of a separate real property tax b▇▇▇ and separate real property assessment notices rendered by any lawful taxing Authority. If there are no such separate tax bills and assessment notices, but there are available to the Landlord working papers and calculations made by the taxing Authorities from which separate assessments may, in the Landlord’s opinion, be determined, then the Landlord may elect to make such separate assessments based on such working papers and calculations, in which case such determinations made by the Landlord will be deemed to be separate tax bills and assessments for the purpose of this section.
(b) If there are not actual or deemed separate real property tax bills and separate real property assessment notices for the Premises and the Common Areas, the Tenant shall pay to the Landlord, as Additional Rent, its Proportionate Share of all Real Property Taxes levied, rated, charged or assessed from time to time against the Development.
(c) The Tenant shall provide the Landlord, within 10 days after receipt by the Tenant, a copy of any separate tax bills and assessment notices for the Premises or any part thereof. If the Landlord requires the Tenant to pay Real Property Taxes directly to the relevant taxing Authority, the Tenant shall promptly deliver to the Landlord receipts evidencing the payment of all such Real Property Taxes and furnish such other information in connection therewith as the Landlord reasonably requires.
(d) If the assessments and ongoing sewer fees tax bills for the Real Property Taxes applicable to the demised premises during Development involve lands and/or buildings that do not form part of the demised term. Such taxesDevelopment, assessments then the Landlord will, acting reasonably, allocate the Real Property Taxes between the Development and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth such other lands and the amount of such computation thereof, or (ii) allocated by the thirtieth (30th) day prior Landlord to the delinquency date for such taxDevelopment will be conclusive and binding upon the Tenant and be deemed to be the amount assessed against the Development. For clarity, assessment or fee. If the demised term Landlord shall not expire concurrently with allocate the expiration date Real Property Taxes in a manner that permits the Landlord to recover more than 100% of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basisReal Property Taxes.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease Agreement (Ehave, Inc.)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised termpremises. Such taxes, assessments and fees Taxes shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term of this Lease shall not expire concurrently with the expiration date of the fiscal tax year, Tenant▇▇▇▇▇▇'s liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant▇▇▇▇▇▇'s liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant▇▇▇▇▇▇'s said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such.
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs repairs, replacements and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord on account of governmental requirements to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall on account of governmental requirements require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said gross costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based taxtax and state franchise fees) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Sources: Lease (Biotime Inc)
Real Property Taxes. Section 17.1Tenant agrees to pay to Landlord throughout the term of this Lease, as Additional Rent, any and all real property taxes, assessments, and levies assessed against the Leased Premises during each tax year ("Real Property Taxes"). Tenant covenants and agrees to deposit monthly, in advance, and if requested by Landlord, with Landlord on the first day of each calendar month throughout the Lease Term an amount equal to one-twelfth (1/12th) of Landlord's estimate of the Real Property Taxes for the next succeeding tax fiscal year. The first installment shall be due and payable by Tenant on the Rent Commencement Date, without proration, and the next installment shall be paid on the first day of the next calendar month. Any underpayment of Tenant's obligations not covered by the accumulation of monthly deposits shall be paid by Tenant within fifteen (15) days of Landlord's demand and any overpayment shall be credited against the installments next coming due. Any interest earned on the escrow deposits payable hereunder shall be and remain the property of Landlord. Should any governmental taxing authority acting under any present or future law, ordinance or regulation, levy, assess, or impose a tax, excise and/or assessment (other than an income or franchise tax) upon or against the Rent, or any part of it, payable by Tenant to Landlord, either by way of substitution (in whole or in part) for or in addition to any existing tax on the Leased Premises or otherwise, Tenant shall be responsible for and shall pay such tax, excise and/or assessment, or shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) amount thereof within thirty (30) days after receipt of Landlord's written statement setting forth demand, as the amount case may be. In the event any governmental authority includes in the tax base upon which the Real Property Taxes are levied or assessed the value of such computation thereofany improvements made by Tenant, or (ii) by the thirtieth (30th) day prior to the delinquency date for such taxof any machinery, assessment equipment, fixtures, inventory or fee. If the demised term shall not expire concurrently with the expiration date other personal property or assets of the fiscal tax yearTenant, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. then Tenant shall pay prior the entire portion of the Real Property Taxes attributable to or based upon such items in addition to the portion of the Real Property Taxes payable by Tenant as otherwise provided in this Section. Tenant agrees to pay before delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other imposed on or incidental to the personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, conduct of its business and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs its use and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the futureLeased Premises.
Appears in 1 contract
Sources: Lease Agreement (Execustay Corp)
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for (Continue on Exhibit K attached hereto)
5.2.1 In addition to all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made other Rent payable by Tenant hereunder, Tenant agrees to pay as additional Rent its proportionate share of Real Property Taxes levied and assessed against the later of: (i) within thirty (30) days after receipt Building and Project. Real Property Taxes for any fractional portion of Landlord's written statement setting forth a calendar year included in the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year Lease Term shall be prorated on an annual basisthe basis of a 360-day year.
Section 17.2. If 5.2.2 Each year, Landlord shall notify Tenant of its proportionate share of the demised premises Real Property Taxes payable by Tenant hereunder and Tenant shall pay Landlord the amount payable by Tenant at the time and in the manner provided by Article 7 of this Lease.
5.2.3 Tenant's proportionate share of Real Property Taxes for the Building shall be the ratio that the square footage of the Premises bears to the total leasable square footage of the Building and other improvements of which the Premises are a part, or if such Building and improvements are not separately assessed, ------------ the total leasable square footage of the buildings and improvements constituting the Project. Tenant's liability proportionate share of Real Property Taxes for the Project (to be used if the Building and improvements of which the Premises are a part are not separately assessed and if any Real Property Taxes are assessed against the Project generally [including with respect to any Common Areas] and not a particular building in the Project) shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy ratio that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, Premises bears to the total leasable square footage of the buildings and improvements constituting the Project. Tenant's proportionate share on the act of entering into this Lease, or on Commencement Date is set forth in the occupancy Basic Provisions; said proportionate share is subject to adjustment periodically as of the time each installment of Real Property Taxes is due.
5.2.4 Tenant however describedshall pay to Landlord Tenant’s proportionate share of the Real Property Taxes in each calendar year; provided, however, Landlord may, at its election, require that Tenant pay any increase in the assessed value of the Project based upon the value of the 50 Premises Tenant Improvements (as defined in the Exhibit B), if any, relative to the value of the other improvements on or to the other buildings in the Project, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.reasonably determined by 32730.018 - 276230.10 4836-3652-8809v15/100382-1012
Appears in 1 contract
Sources: Industrial Lease (Appfolio Inc)
Real Property Taxes. (a) Upon the Commencement Date, Tenant will pay to Landlord, in accordance with ARTICLE 1, Section 17.11.10(b), Tenant’s estimated pro rata share the taxes and assessments levied and assessed for that year. Subsequently, Tenant shall reimburse will pay Tenant’s pro rata share of the estimated taxes as defined as Additional Rent to thE movE, including the cost of any mutually agreed additional professional services rendered to Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable (or any other expenses incurred by Landlord) in connection with any action to reduce the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose assessed valuation of making this computation. Such payment shall be made by Tenant the later of: (i) within thirty (30) days after receipt of Landlord's written statement setting forth the amount of such computation thE movE or any portion thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises Premises and underlying realty are not separately assessed, ------------ Tenant's liability ’s share of such taxes and assessments shall be an equitable proportion determined by multiplying the total amount due by a fraction, the numerator of which is the floor area of the real property taxes for all Premises and the denominator of which is the total floor area of the land and improvements included within covered by the tax parcel assessedb▇▇▇. For the purposes of this Lease, floor area shall be measured from the exterior surface of exterior walls (and from the extensions thereof, in the case of openings) and from the center of interior demising partitions, including mezzanines, warehousing or storage areas, clerical or office areas and employee areas. Such taxes shall be paid in equal monthly installments as determined in subpart 5.01(b) below.
(b) The amount of each such proportion to installment shall be determined by Landlord from in accordance with the respective valuations assigned provisions of subparagraph (a) above on the basis of Landlord’s good faith estimate of the total taxes and assessments which will be due and payable in regard to thE movE for the assessor's work sheets or such other information as calendar year concerned. Such estimate may be reasonably revised by Landlord from time to time as additional information becomes available. Landlord's reasonable determination thereof, in good faith, and the amount of the monthly installment due from Tenant hereunder shall be conclusive.
Section 17.3increased or decreased accordingly. Notwithstanding the foregoing, Tenant shall is obligated to pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained Tenant’s Pro Rata Share as determined in accordance with subparagraph (a) above. Any deficiency between the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any amount of Tenant's said personal property ’s actual share of such taxes and assessments for any calendar year and the total amount paid by Tenant in installments during such year shall be assessed with Landlord's real property, paid to Landlord by Tenant shall pay Landlord the taxes attributable to Tenant the later of: within fifteen (i) within ten (1015) days after receipt by Tenant of a written statement setting forth notice of such deficiency which notice may be given by Landlord at any time prior to June 1 of the taxes applicable to Tenant's propertysubsequent year (or later in the event Landlord is delayed by the taxing authorities, or (ii) is pending information from tax assessment appeal, etc.). Any surplus of installments paid over amount due shall be credited by the thirtieth (30/th/) day prior Landlord to the delinquency first installment of Rent coming due from Tenant after the date of such accounting recognizing the credit or shall be refunded to Tenant if the Lease Term has ended.
(c) If at any time during the Lease Term under the Laws of the United States government, state, county, city, or any political subdivision or owners association thereof in which the Premises are situated, a tax or excise on rent or any other tax or assessment described is levied or assessed against Landlord on account of rentals payable to Landlord hereunder, such tax, excise or assessment shall be considered “taxes” for such
Section 17.4. In addition to the purposes of this Article, excluding, however, from such tax or excise all other payments provided for hereingeneral income taxes, the ------------ Tenant shall on demand reimburse Landlord for any surchargesgift taxes, feesinheritance taxes estate taxes, transfer tax, gains tax, and any similar charges required to be paid by any instrumentality of localcharges, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal governmentpenalties, or (ii) installed by Landlord interest imposed as the result of Landlord’s failure to facilitate payment of a parking charge by comply with the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costslaw.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Real Property Taxes. (a) During the Lease Term, Tenant shall be responsible for the ad valorem taxes (including rollback taxes) assessed on and allocable to the Leased Premises, the Rolling Mill and any other improvements thereon (but not for any ad valorem or other taxes assessed on and allocable to the Mineral Estate, the Adjacent Premises or the Access Areas, for which Landlord shall be solely responsible) that are attributable to the time period from the Effective Date until the expiration or earlier termination of this Lease, prorated for any partial tax years, and payable upon receipt of an invoice directly from the taxing authority or from Landlord, as the case may be. All sums payable by Tenant under this Section 17.1. 8.1 shall be paid without notice (except as provided in Section 8.1(d)), demand, counterclaim, setoff, deduction or defense and without abatement, suspension, deferment, diminution or reduction, except as expressly provided herein.
(b) Tenant shall have no liability for inheritance and succession taxes, franchise and corporate taxes, estate and gift taxes, documentary transfer (stamp) taxes arising as a result of Landlord’s transfer of title to the Leased Premises, Landlord’s federal and state income taxes, or other taxes applied or measured by Landlord’s general or net income.
(c) Should any real property ad valorem taxes payable by Tenant become delinquent, Landlord may, at its option, pay the same, in which case Tenant shall reimburse Landlord for all real property ------------ taxes, assessments and ongoing sewer fees applicable to the demised premises during the demised term. Such taxes, assessments and fees shall be prorated to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: amounts so paid within twenty (i) within thirty (3020) days after receipt receiving an invoice therefor, after which period such delinquent amounts shall bear interest at the Default Rate until the date of reimbursement by Tenant.
(d) Each Party shall provide the other Party, promptly upon receipt, a copy of all tax bills and invoices received from any taxing authority in connection with any real property ad valorem taxes for which the other Party is responsible. Landlord shall reasonably cooperate with Tenant to cause copies of all ad valorem tax bills for the Leased Premises to be sent directly to Tenant.
(e) Landlord, with the cooperation of Tenant but at no external cost payable by Landlord to any third party, shall use reasonable efforts to have the Leased Premises assessed separately for property tax purposes from the balance of Landlord's written statement setting forth the amount of such computation thereof, or (ii) by the thirtieth (30th) day prior to the delinquency date for such tax, assessment or fee’s real property. If the demised term shall not expire concurrently with the expiration date of the fiscal tax year, Tenant's liability for taxes for the last partial lease year shall be prorated on an annual basis.
Section 17.2. If the demised premises Leased Premises are not so separately assessed, ------------ Tenant's ’s share of the real property tax liability shall will be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be reasonably determined by mutual agreement of Landlord and Tenant from the respective valuations assigned in the assessor's ’s work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereof, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real property, Tenant shall pay Landlord the taxes attributable to Tenant the later of: (i) within ten (10) days after receipt of a written statement setting forth the taxes applicable to Tenant's property, or (ii) by the thirtieth (30/th/) day prior to the delinquency date for such
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any surcharges, fees, and any similar charges required to be paid by any instrumentality of local, state or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation of the actual cost of modification or improvements to the areas, facilities and improvements maintained in this Article either (i) required by any instrumentality of local, state or federal government, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, or both, and other similar costs; and there shall be excluded from all of Article 17
(a) cost of construction of such improvements ---------- which is properly chargeable to capital account and (b) depreciation of the original cost of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.
Appears in 1 contract
Real Property Taxes. Section 17.1. Tenant shall reimburse Landlord for (a) Mortgagor covenants and agrees to pay before due all real property ------------ taxes, assessments assessments, ground rent, if any, water and ongoing sewer rents, fees and charges, levies, permit, inspection and license fees and other dues, charges or impositions, including all charges and license fees for the use of vaults, chutes and similar areas adjoining the Land, maintenance and similar charges and charges for utility services, in each instance whether now or in the future, directly or indirectly, levied, assessed or imposed on the Mortgaged Property or Mortgagor and whether levied, assessed or imposed as excise, privilege or property taxes (collectively, "Property Taxes").
(b) After the occurrence and upon the continuance beyond any applicable cure period of one or more Events of Default, then upon notice from Mortgagee, Mortgagor shall, notwithstanding anything to the demised premises during contrary contained in Section 6(a) above, deposit with Mortgagee or a commercial lending institution designated in such notice by Mortgagee (at Mortgagor's sole cost and expense) on the demised termfirst day of each month an amount equal to 1/12th of the aggregate annual payments for Property Taxes. Such taxesIn addition, assessments and fees upon notice from Mortgagee, Mortgagor shall deposit with Mortgagee such sum of money which, together with such monthly installments, shall be prorated sufficient to lease years for purpose of making this computation. Such payment shall be made by Tenant the later of: (i) within pay all Property Taxes at least thirty (30) days after receipt prior to the due date thereof. If the amounts of Landlord's written statement setting forth any Property Taxes are not ascertainable at the time any deposit is required to be made, the deposit shall be made on the basis of 105% of the amount of the Property Taxes for the immediately prior tax year. Upon the amount of the Property Taxes being fixed for the then current-year, Mortgagor shall, upon notice from Mortgagee, deposit any deficiency with Mortgagee. If, on a date thirty (30) days prior to the due date, there shall be insufficient funds on deposit with Mortgagee (or its designee) for the payment of any Property Taxes, Mortgagor shall, upon demand of Mortgagee, forthwith deposit the amount of such computation thereofdeficiency with Mortgagee. The funds deposited with Mortgagee (or its designee) shall be held by it without interest, and, unless prohibited by law, may be commingled with other funds of Mortgagee, and provided that there does not then exist an Event of Default in the performance of any of the covenants and agreements of Mortgagor under this Mortgage, the Loan Documents or (or under any instrument collateral thereto or to this Mortgage), shall be applied in payment of Property Taxes when due to the extent that Mortgagor shall have deposited funds with Mortgagee (or its designee) for such purpose. In the event of any Event of Default and the continuance thereof by Mortgagor under this Mortgage, or any Event of Default and the continuance thereof by Mortgagor under any of the Loan Documents or any instrument collateral thereto or to this Mortgage, the funds deposited (iipursuant to this Section 6(b)) with Mortgagee (or its designee) may, at the option of Mortgagee, be retained and applied toward the payment of any or all of the Secured Obligations and any accrued but unpaid interest and other charges thereon, in such order of priority as Mortgagee shall determine, but no such application shall be deemed to have been made by operation of law or otherwise until actually made by Mortgagee. Mortgagor shall furnish Mortgagee with a bill for the thirtieth Property Taxes or such other documents necessary for its payment, if available, at least thirty (30th30) day days prior to the delinquency date for it first becomes due. Upon an assignment of this Mortgage, Mortgagee shall have the right to transfer the then balance of such taxdeposits in its possession to the assignee. Upon the making of such transfer, assessment or feeMortgagee shall be completely released from all liability with respect to such deposits, and Mortgagor shall look solely to the assignee with respect thereto. If the demised term shall not expire concurrently with the expiration date The provisions of the fiscal tax year, Tenant's liability for taxes for the last partial lease year preceding sentence shall be prorated on an annual basisapply to each and every assignment or transfer of such deposits to a new assignee.
(c) Notwithstanding the provisions of subparagraph (a) of Section 17.2. If 6, Mortgagor shall have the demised premises are not separately assessed, ------------ Tenant's liability shall be an equitable proportion of the real property taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Landlord from the respective valuations assigned in the assessor's work sheets or such other information as may be reasonably available. Landlord's reasonable determination thereofright, in good faith, shall be conclusive.
Section 17.3. Tenant shall pay prior to delinquency all taxes assessed ------------ against and levied upon trade fixturescontest by appropriate legal proceedings, furnishingsafter notice to, equipment and all other personal property but without cost or expense to, Mortgagee, the amount or validity of Tenant contained in the demised premises or elsewhere. Tenant shall, if possible, cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Landlord. If any of Tenant's said personal property shall be assessed with Landlord's real propertythe Property Taxes and to postpone the payment of same, Tenant shall pay Landlord the taxes attributable to Tenant the later ofprovided that: (i) within ten (10) days after receipt such contest shall operate to prevent the collection thereof or other realization thereon, the sale of a written statement setting forth the taxes applicable to Tenant's propertylien thereof, and the sale or forfeiture of the Mortgaged Property or any part thereof; (ii) such contest shall be promptly and diligently prosecuted by and at the thirtieth expense of Mortgagor;
(30/th/iii) day prior Mortgagee shall not thereby suffer any civil, or be subjected to the delinquency date for suchany criminal, penalties or sanctions;
Section 17.4. In addition to all other payments provided for herein, the ------------ Tenant (iv) Mortgagor shall on demand reimburse Landlord for any surcharges, feespromptly, and in any similar charges required to be paid by event on demand, pay such contested Property Taxes if at any instrumentality of local, state time all or federal government in connection with parking in the parking area, including policing; supervising with attendants; other costs in connection with providing charged parking; repairs and maintenance not properly chargeable to capital account under good accounting principles; interest and depreciation any part of the actual cost Mortgaged Property shall be in danger of modification or improvements to the areasbeing foreclosed, facilities and improvements maintained in this Article either (i) required by any instrumentality of localsold, state or federal governmentforfeited, or (ii) installed by Landlord to facilitate payment of a parking charge by the general public for parking in the parking area, otherwise lost or both, and other similar costs; and there if such contest shall be excluded from all of Article 17discontinued; and
(av) cost of construction of such improvements ---------- which is Mortgagor shall properly chargeable to capital account protect and (b) depreciation hold harmless Mortgagee against any liability and claims arising out of the original cost postponement of construction of all items not previously mentioned in this sentence. If Landlord shall require the payment of a parking charge by the general public for parking in the parking area, then during any period in which such a charge is made the total revenue (after deducting excise and similar taxes thereon and taxes, fees or surcharges imposed by any agency or instrumentality of local, state or federal government) actually received in cash or its equivalent by Landlord for such parking charge shall be credited against said costs.
Section 17.5. Notwithstanding the provisions of Article 17 hereinabove, ------------ ---------- Tenant shall pay any increase in "real property taxes" resulting from any and all improvements of any kind whatsoever placed on or in the demised premises for the benefit of or at the request of Tenant regardless of whether said improvements were installed or constructed either by Landlord or Tenant.
Section 17.6. In addition to all other payments provided for herein, the ------------ Tenant shall on demand reimburse Landlord for any tax (excluding income or similar income-based tax) and/or business license fee or other levy that may be levied, assessed or imposed upon the rent or other payments provided for herein or on the square footage of the demised premises, on the act of entering into this Lease, or on the occupancy of the Tenant however described, as a direct substitution in whole or in part for, or in addition to, any real property taxes, whether pursuant to laws presently existing or enacted in the future.Property Taxes;
Appears in 1 contract