Tax Rent. The term "Taxes" shall mean the aggregate of the real estate taxes, assessments and other governmental charges and levies, general and special, ordinary and extraordinary, foreseen and unforeseen, of any kind or nature whatsoever (including without limitation assessments for public improvements or benefits and interest on unpaid installments thereof) which may be levied, assessed or imposed or become liens upon or arise out of the use, occupancy or possession of the land, buildings, leasehold improvements, betterment’s, and other permanent improvements within or to the Landlord's property from time to time. However, if at any time during the Lease Term the methods of taxation prevailing at the commencement of the Lease Term shall be altered so that in addition to or in lieu of or as a substitute for the whole or any part of the Taxes now levied, assessed or imposed on real-estate as such there shall be levied, assessed or imposed: (i) a tax on the rents received; or (ii) a license fee measured by the rents receivable by Landlord; or (iii) a tax or license imposed upon Landlord which is otherwise measured by or based in whole or in part upon the real-estate, then the same shall also be within the definition of the term “Taxes" above. Landlord covenants that it will pay, when due, all Taxes, imposed on the tax lot wherein the Demised Premises are situated. Beginning on the first day of the thirteenth (13th) month after the Commencement Date and adjusted annually thereafter, Tenant shall pay to Landlord an amount equal to Tenant's proportionate share of any increase(s) in such Taxes over the Base Year ("Tax Rent") which shall be determined by a fraction, the numerator of which shall be the Total Leased Area of the Demised Premises( 3,855 sq. ft.), and the denominator of which shall be the Total Area within the Buildings in the Project (21,325 sq. ft.), which is currently equal to 18.08%. Such amount shall be fairly and equitably prorated for any partial lease year during the Lease Term. Tenant's Tax Rent (as the same may be subsequently increased or decreased) shall be paid to Landlord in equal monthly installments in advance on the first day of each calendar month. If, on the first day of the anniversary date the amount of Taxes payable during the then current year shall have not been determined by the taxing authorities, then the Tax Rent then payable by Tenant shall be estimated by Landlord and be subject to immediate (i) adjustment when the amount of such Taxes for the applicable year shall be determined; and (ii) payment upon submission of a statement therefore by Landlord. Within 60 days after the end of each anniversary date of this Lease, Landlord shall deliver a statement to Tenant of all bills for Taxes for such year and certify to Tenant the amount of Tenant's Tax Rent. If the amount of such monthly Tax Rent payments paid by Tenant exceeds the actual amount due, the overpayment shall be credited on Tenant's next succeeding payment or, during the last year of the Lease Term, Landlord will refund such excess to Tenant within thirty (30) days following the expiration of the Lease Term, if Tenant is not in default hereunder. If the amount of such monthly Tax Rent payments paid by Tenant were less than the actual amount due, Tenant shall pay to Landlord the difference between the amount paid and the actual amount due, within thirty (30) days after receipt of Landlord’s certification of amount due. Tenant shall pay its proportionate share (or reimburse Landlord upon demand if the same are levied against Landlord or the Demised Premises), before delinquency, any and all taxes, assessment, license fees and public charges, of whatever kind or nature, levied or assessed during the Lease Term by any governmental authority against Tenant's business in the Demised Premises and the fixtures, furniture, appliances and any other personal property therein. Landlord shall have the sole, absolute right, but not the obligation, to contest the validity or amount of any Taxes by appropriate proceedings, and the sole, absolute and unrestricted right to negotiate and settle any contest, proceeding or action upon whatever terms Landlord may, in its sole discretion, determine. In the event Landlord receives any refund of such Taxes (and provided Tenant is not then in default under this Lease) Landlord shall credit such proportion of the refund (less pro rata costs, expenses and attorney's fees) as shall be allocable to the Tenant’s Tax Rent, if any, for the year to which the refund is applicable, and shall include said refund in the next annual statement concerning Tax Rent and refund to, or credit, Tenant at such time as referred to above. In the event of any dispute under this Article, Tenant shall pay its Tax Rent in accordance with the applicable ▇▇▇▇ or statement, and such payment shall be without prejudice to Tenant's position. If the dispute shall be determined in Tenant's favor by agreement or otherwise, Landlord shall pay to Tenant the amount of Tenant's overpayment resulting from compliance with such ▇▇▇▇ or statement. Any such ▇▇▇▇ or statement shall be deemed binding and conclusive if Tenant fails to object to it in a detailed writing within thirty (30) days after it is mailed by Landlord. Failure of Landlord to provide any statement called for hereunder within the period of time prescribed, will not relieve Tenant from its obligations hereunder.
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Tax Rent. The term "Taxes" shall mean the aggregate of the real real-estate taxes, assessments and other governmental charges and levies, general and special, ordinary and extraordinary, foreseen and unforeseen, of any kind or nature whatsoever (including without limitation assessments for public improvements or benefits and interest on unpaid installments thereof) which may be levied, assessed or imposed or become liens upon or arise out of the use, occupancy or possession of the land, buildings, leasehold improvements, betterment’s's, and other permanent improvements within or to the LandlordLessor's property from time to time. The term "Taxes" shall not, however, include inheritance, estate, succession, transfer, gift, franchise, corporation income or profit tax imposed upon Lessor. However, if at any time during the Lease Term the methods of taxation prevailing at the commencement of the Lease Term shall be altered so that in addition to or in lieu of or as a substitute for the whole or any part of the Taxes now levied, assessed or imposed on real-estate as such there shall be levied, assessed or imposed: (i) a tax on the rents received; or (ii) a license fee measured by the rents receivable by LandlordLessor; or (iii) a tax or license imposed upon Landlord Lessor which is otherwise measured by or based in whole or in part upon the real-estate, then the same shall also be within the definition of the term “"Taxes" above. Landlord Lessor covenants that it will pay, when due, all Taxes, imposed on the tax lot wherein the Demised Premises are situated. Beginning on the first day of the thirteenth (13th) month after the Commencement Date and adjusted annually thereafter, Tenant Lessee shall pay to Landlord Lessor an amount equal to TenantLessee's proportionate share of any increase(s) in such Taxes over the Base Year ("Tax Rent") which shall be determined by a fraction, the numerator of which shall be the Total Leased Area of the Demised Premises( 3,855 sq. ft.), and the denominator of which shall be the Total Area within with the Buildings in Building or Project wherein the Project (21,325 sq. ft.)Demised Premises are situated, subject to the method by which is currently equal to 18.08%taxes are calculated. Such amount shall be fairly and equitably prorated for any partial lease year during the Lease Term. Tenant's Tax Rent (as the same may be subsequently increased or decreased) shall be paid to Landlord in equal monthly installments in advance on the first day of each calendar month. If, on the first day of the anniversary date the amount of Taxes payable during the then current year shall have not been determined by the taxing authorities, then the Tax Rent then payable by Tenant shall be estimated by Landlord and be subject to immediate (i) adjustment when the amount of such Taxes for the applicable year shall be determined; and (ii) payment upon submission of a statement therefore by Landlord. Within 60 days after the end of each anniversary date of this Lease, Landlord shall deliver a statement to Tenant of all bills for Taxes for such year and certify to Tenant the amount of Tenant's Tax Rent. If the amount of such monthly Tax Rent payments paid by Tenant exceeds the actual amount due, the overpayment shall be credited on Tenant's next succeeding payment or, during the last year of the Lease Term, Landlord will refund such excess to Tenant within thirty (30) days following the expiration of the Lease Term, if Tenant is not in default hereunder. If the amount of such monthly Tax Rent payments paid by Tenant were less than the actual amount due, Tenant shall pay to Landlord the difference between the amount paid and the actual amount due, within thirty (30) days after receipt of Landlord’s certification of amount due. Tenant shall pay its proportionate share (or reimburse Landlord upon demand if the same are levied against Landlord or the Demised Premises), before delinquency, any and all taxes, assessment, license fees and public charges, of whatever kind or nature, levied or assessed during the Lease Term by any governmental authority against Tenant's business in the Demised Premises and the fixtures, furniture, appliances and any other personal property therein. Landlord shall have the sole, absolute right, but not the obligation, to contest the validity or amount of any Taxes by appropriate proceedings, and the sole, absolute and unrestricted right to negotiate and settle any contest, proceeding or action upon whatever terms Landlord may, in its sole discretion, determine. In the event Landlord receives any refund of such Taxes (and provided Tenant is not then in default under this Lease) Landlord shall credit such proportion of the refund (less pro rata costs, expenses and attorney's fees) as shall be allocable to the Tenant’s Tax Rent, if any, for the year to which the refund is applicable, and shall include said refund in the next annual statement concerning Tax Rent and refund to, or credit, Tenant at such time as referred to above. In the event of any dispute under this Article, Tenant shall pay its Tax Rent in accordance with the applicable ▇▇▇▇ or statement, and such payment shall be without prejudice to Tenant's position. If the dispute shall be determined in Tenant's favor by agreement or otherwise, Landlord shall pay to Tenant the amount of Tenant's overpayment resulting from compliance with such ▇▇▇▇ or statement. Any such ▇▇▇▇ or statement shall be deemed binding and conclusive if Tenant fails to object to it in a detailed writing within thirty (30) days after it is mailed by Landlord. Failure of Landlord to provide any statement called for hereunder within the period of time prescribed, will not relieve Tenant from its obligations hereunder.
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