Common use of Tax Increase Clause in Contracts

Tax Increase. If the real estate taxes payable on the land and building comprising the warehouse building properly shall be increased for any tax year over the amount of such taxes payable for the tax year immediately following the year in which this Lease is executed (such tax year being hereinafter called "base year" and the taxes payable in the base year being hereinafter called basic taxes"), Tenant shall pay to Landlord as additional rent, within 10 days after Landlord shall notify Tenant of such increase, an amount equal to Tenants' proportionate share of the tax increase in the ratio that Tenant's floor area bears to the floor area of all rented and rentable space in the warehouse building. Landlord shall take the benefit of the provisions of any statute or any ordinance permitting any such assessment to be paid over a period of time, and Tenant shall be obligated to pay only the said portion of the installments of any such assessments which shall become due and payable during the term of this Lease. Base year is 1997. 6 ARTICLE THIRTY:

Tax Increase. If the real estate taxes payable on the land and building comprising the warehouse building properly shall be increased for any tax year over the amount of such taxes payable for the tax year immediately following the year in which this Lease is executed (such tax year being hereinafter called "base year" and the taxes payable in the base year being hereinafter called basic taxes"), Tenant shall pay to Landlord as additional rent, within 10 days after Landlord shall notify Tenant of such increase, an amount equal to Tenants' proportionate share of the tax increase in the ratio that Tenant's floor area bears to the floor area of all rented and rentable space in the warehouse building. Landlord shall take the benefit of the provisions of any statute or any ordinance permitting any such assessment to be paid over a period of time, and Tenant shall be obligated to pay only the said portion of the installments of any such assessments which shall become due and payable during the term of this Lease. Base year is 1997. 6 ARTICLE THIRTY:.