Common use of Taxes and Insurance Clause in Contracts

Taxes and Insurance. 9. Landlord shall pay all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises as Landlord in its reasonable discretion may deem appropriate. Tenant shall reimburse Landlord for all taxes and insurance as provided herein within fifteen (15) days after receipt of notice from Landlord as to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9.

Appears in 6 contracts

Samples: Commercial Lease Agreement, Commercial Lease Agreement, Commercial Lease Agreement

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Taxes and Insurance. 9. Landlord Borrowers shall pay to Lender on each Payment Date (i) one-twelfth of the Taxes that Lender estimates will be payable during the next 12 months in order to accumulate with Lender sufficient funds to pay all taxes such Taxes at least 30 days prior to their respective due dates and (including but not limited toii) one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate with Lender sufficient funds to pay all such Insurance Premiums at least 30 days prior to the expiration of the Policies. Such amounts will be transferred by Lender to a Subaccount (the "TAX AND INSURANCE SUBACCOUNT"). Provided that no monetary Event of Default or material non-monetary Event of Default has occurred and is continuing, ad valorem taxesLender will (a) apply funds in the Tax and Insurance Subaccount to payments of Taxes and Insurance Premiums required to be made by Borrowers pursuant to Sections 5.2 and 7.1, special assessments provided that Borrowers have promptly supplied Lender with notices of all Taxes and any other governmental chargesInsurance Premiums due, or (b) on the Premises and shall procure and pay reimburse Borrowers for such commercial general liabilityamounts upon presentation of evidence of payment; subject, broad form fire however, to Borrowers' right to contest Taxes in accordance with Section 5.2. In making any payment relating to Taxes and extended and special perils insurance Insurance Premiums, Lender may do so according to any xxxx, statement or estimate procured from the appropriate public office (with respect to Taxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the Premises as Landlord accuracy of such xxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If Lender determines in its reasonable discretion judgment that the funds in the Tax and Insurance Subaccount will be insufficient to pay (or in excess of) the Taxes or Insurance Premiums next coming due, Lender may deem appropriate. Tenant shall reimburse Landlord for all taxes and insurance as provided herein within fifteen increase (15or decrease) days after receipt of notice from Landlord as the monthly contribution required to be made by Borrowers to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal Tax and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9Insurance Subaccount.

Appears in 5 contracts

Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

Taxes and Insurance. 9Tenant agrees to pay without notice, demand, counter-claim, deduction, set-off or abatement of any kind all real property taxes and installments of special assessments (including dues and assessments by means of deed restrictions and/or owners associations) lawfully levied or assessed against the Leased Premises, and any and all insurance required herein or as Landlord deems reasonably necessary (specifically including fire and casualty, commercial general liability and rent loss [a/k/a business income] insurance) (collectively “Taxes and Insurance”). Landlord shall pay all taxes invoice Tenant monthly (including but not limited to, ad valorem taxes, special assessments in advance) for Taxes and any other governmental charges) Insurance commencing on the Commencement Date and such xxxxxxxx will be based upon Landlord’s estimate of Taxes and Insurance for the current calendar year, provided, that in the event Landlord is required under a mortgage, deed of trust, underlying lease or loan agreement covering the Leased Premises to escrow Taxes and shall procure and pay for such commercial general liabilityInsurance, broad form fire and extended and special perils insurance with respect Landlord may but will not be obligated, to the Premises as Landlord in its reasonable discretion may deem appropriate. Tenant shall reimburse Landlord for all taxes and insurance as provided herein within fifteen (15) days after receipt of notice from Landlord as to use the amount due. Tenant shall required to be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used escrowed as a basis for determining its estimate. To the pro rata share, if any, to be paid by Tenant for that portion extent the Commencement Date or Termination Date of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and not on the first day of each the calendar month year or last day of the calendar year respectively, Tenant’s liability for Taxes and Insurance is subject to a pro rata adjustment based on the number of days of any such year during which the Term is in effect. Landlord shall contest or appeal any value assessment rendered by applicable taxing authorities that is deemed to be in excess of fair market value or the value of comparable properties and if such efforts result in a reduction of the real property taxes for any period during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes dueTerm, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by refund Tenant hereunder do not equal the amount of such reduction less the fees of the Landlord’s third party property tax consultants for obtaining such reduction. In no event shall Tenant be liable for any income or franchise taxes paid by Landlord, Tenant shall imposed upon demand pay to Landlord an amount equal to unless such taxes are in substitution of the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9taxes set forth above.

Appears in 2 contracts

Samples: Lease Agreement (Oxford Immunotec Global PLC), Lease Agreement (Oxford Immunotec Global PLC)

Taxes and Insurance. 9. Landlord shall Lessor will, in the 6rst instance, pay all taxes (including but not limited to, ad valorem the taxes, special levies and assessments on or in respect of Lessor's ownership of the Leased Premises and, during the continuance of this Lease, Lessee shall reimburse to Lessor the amount of such taxes, levies, and assessments attributable to the Leased Coal and the Leased Premises, but excluding taxes attributable to all rights excepted and reserved, if separately assessed, including taxes attributable to timber, oil, gas and other minerals, promptly upon receipt of Lessor's statement therefor, such amounts to constitute and be treated as additional rental hereunder; provided that the obligation of Lessee shall be prorated for any partial calendar years for the first year and the last year of this Lease. Lessee shall promptly pay at the several times they become due and payable all taxes levied or assessed upon coal mined from or products manufactured from coal upon the Leased Premises. Lessee shall also pay any and all taxes due to the state and/or its subdivision for severing, removing, processing, or preparing of said coal, except for taxes on gross or net income of Lessor on receipt of royalties, and Lessee shall also pay all royalties for removal of coal required by any existing or future labor agreements of lessee, its agents, operators or affiliates. If Lessor fails to pay the taxes, levies and assessments set forth above or if there are any taxes or encumbrances due on the Leased Premises, then Lessee may pay the same and any other governmental charges) on penalties, or redeem the Leased Premises from a tax sale, and shall procure deduct the amount expended attributable to taxes attributable to all rights excepted or reserved, if separately assessed, as well as penalties and interest assessed due to Lessor's failure to timely pay for any taxes, levies and assessments, from any rents and royalties subsequently accruing. Lessee may, at any time during the continuance of this Lease, at its own cost and expense, and after reasonable notice to Lessor of its intention so to do, contest any of the taxes, levies, or assessments to be borne by Lessee as above provided. In the event of any such commercial general liabilitycontest, broad form fire and extended and special perils insurance Lessee is authorized to proceed in the name of Lessor with respect to the Premises as Landlord reversionary interest of Lessor in the Leased Premises, but Lessee shall indemnify Lessor against any costs, penalties, expenses, or interest charges arising out of such contest. Lessee shall submit to Lessor, for its reasonable discretion may deem appropriatereview, a copy of annual coal appraisal reports or returns prepared pursuant to laws or regulations in the State of with respect to Lessor's ownership prior to the filing with any governmental agency. Tenant shall reimburse Landlord It is understood and agreed that the taxes levied or assessed from such reports are based, in part, upon the permitting and/or production of Lessee and for all taxes and insurance that reason, Lessee's payments to Lessor as provided herein within fifteen for in this section shall continue and survive any termination of this Lease until the earlier of such time as (15a) days after receipt said taxes levied or assessed are not based on the designation of notice from Landlord the Leased Coal as "permitted" under said coal appraisal reports or returns, (b) the Leased Coal is leased to any third parties (or if partially leased, to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes extent so leased); or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term (c) five years following termination of this Lease. Notwithstanding the foregoing, and any extension or renewal thereof. If boxes are checked belowafter termination of the Lease, the manner Lessee's responsibilities for payment of reimbursement taxes shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on to the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal incremental difference between the amount of taxes paid due based on the designation of coal reserves as permitted on such coal appraisal reports or returns and the amount of taxes that would be due if such reserves were designated as unpermitted on such coal appraisal reports and returns. Lessor shall use its commercially reasonable efforts to minimize all taxes payable by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in Lessee under this paragraph 9Lease.

Appears in 1 contract

Samples: Mining Lease (Natural Resource Partners Lp)

Taxes and Insurance. 9. Landlord shall Commencing the first month of the Commencement Date, Tenant covenants and agrees to directly pay at its own expense for all taxes “Taxes” and “Insurance Premiums” (including but not limited toas such quoted terms are hereinafter defined) for the Project, ad valorem taxesas may be adjusted from time to time by Landlord, special assessments and any other governmental charges) on the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect pursuant to the Premises as Landlord in its reasonable discretion may deem appropriateprovisions hereinafter stated. Tenant shall reimburse Landlord for all taxes and insurance as provided herein within fifteen (15) days Landlord, after receipt of any tax notice from or insurance xxxx on the Project, shall promptly furnish Tenant with a copy of such document. Provided that Landlord as timely complies with the foregoing sentence, Tenant covenants and agrees to pay, before they become delinquent, all Taxes and Insurance Premiums affecting the amount dueProject during the Lease Term. During any partial calendar year that this Lease is in effect, the Taxes and Insurance Premiums shall be prorated between the parties. Furthermore, Tenant shall be solely responsible also pay prior to delinquency all personal property taxes accruing on any personal property located on the Premises. If Tenant desires to contest any ad valorem real property taxes or assessments or the validity of any tax and gives Landlord written notice of this intention, then Tenant may contest the assessment or tax without being in default hereunder; provided, however, that Tenant shall either provide an escrow or post a bond with Landlord, or otherwise provide for insuring the payment of such taxes or assessments reasonably acceptable to Landlord, so that Landlord may insure the payment of such Taxes if Tenant’s personal and business property and for paying contests of any taxes or governmental assessments levied thereonassessment shall fail. Landlord agrees to cooperate with any such effort by Tenant, but without expense to Landlord. Tenant shall reimburse agrees to indemnify Landlord for taxes and insurance during the term hold Landlord harmless from all costs, expenses and damages whatsoever arising out of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount such contest by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9Tenant.

Appears in 1 contract

Samples: Lease Agreement (EVO Transportation & Energy Services, Inc.)

Taxes and Insurance. 9. Landlord shall Lessor will, in the first instance, pay all taxes (including but not limited to, ad valorem the taxes, special levies and assessments on or in respect of Lessor's ownership of the Leased Premises and, during the continuance of this Lease, Lessee shall reimburse to Lessor the amount of such taxes, levies, and assessments attributable to the Leased Coal and the Leased Premises, but excluding taxes attributable to all rights excepted and reserved, if separately assessed, including taxes attributable to timber, oil, gas and other minerals, after Lessee's receipt of Lessor's statement therefor, such amounts to constitute and be treated as additional rental hereunder; provided that the obligation of Lessee shall be prorated for any partial calendar years for the first year and the last year of this Lease. Lessee shall promptly pay at the several times they become due and payable all taxes levied or assessed upon coal mined from or products manufactured from coal upon the Leased Premises. Lessee shall also pay any and all taxes due to the state and/or its subdivision for severing, removing, processing, or preparing of said coal, except for taxes on gross or net income of Lessor on receipt of royalties, and Lessee shall also pay all royalties for removal of coal required by any existing or future labor agreements of lessee, its agents, operators or affiliates. If Lessor fails to pay the taxes, levies and assessments set forth above or if there are any taxes or encumbrances due on the Leased Premises, then Lessee may pay the same and any other governmental charges) on penalties, or redeem the Leased Premises from a tax sale, and shall procure deduct the amount expended attributable to taxes attributable to all rights excepted or reserved, if separately assessed, as well as penalties and interest assessed due to Lessor's failure to timely pay for any taxes, levies and assessments, from any rents and royalties subsequently accruing. Lessee may, at any time during the continuance of this Lease, at its own cost and expense, and after reasonable notice to Lessor of its intention so to do, contest any of the taxes, levies, or assessments to be borne by Lessee as above provided. In the event of any such commercial general liabilitycontest, broad form fire and extended and special perils insurance Lessee is authorized to proceed in the name of Lessor with respect to the Premises as Landlord reversionary interest of Lessor in the Leased Premises, but Lessee shall indemnify Lessor against any costs, penalties, expenses, or interest charges arising out of such contest. The symbol [***] is used to indicate that a portion of the exhibit has been omitted and filed separately with the commission. Confidential treatment has been requested with respect to the omitted portion. Lessee shall submit to Lessor, for its reasonable discretion may deem appropriatereview, a copy of annual coal appraisal reports or returns prepared pursuant to laws or regulations in the Commonwealth of Virginia with respect to Lessor's ownership prior to the filing with any governmental agency. Tenant shall reimburse Landlord It is understood and agreed that the taxes levied or assessed from such reports are based, in part, upon the permitting and/or production of Lessee and for all taxes and insurance that reason, Lessee's payments to Lessor as provided herein within fifteen for in this section shall continue and survive any termination of this Lease until the earlier of such time as (15a) days after receipt said taxes levied or assessed are not based on production or the designation of notice from Landlord the Leased Coal as mineral under development, (b) the Leased Coal is leased to any third parties (or if partially leased, to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes extent so leased); or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term (c) one year following termination of this Lease. Notwithstanding the foregoing, and any extension or renewal thereof. If boxes are checked belowafter termination of the Lease, the manner Lessee's responsibilities for payment of reimbursement taxes shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on to the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal incremental difference between the amount of taxes paid due based on the designation of coal reserves as mineral under development and the amount of taxes that would be due if such reserves were not under development. Lessor shall use its commercially reasonable efforts to minimize all taxes payable by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in Lessee under this paragraph 9Lease.

Appears in 1 contract

Samples: Mining Lease (Alpha Natural Resources, Inc.)

Taxes and Insurance. 9. Landlord In addition to the base rent above provided, and as additional lease rent, Lessee shall pay its proportionate share of all taxes taxes, general and special, assessed against every part of the Warehouse of which the Leased Premises are a part and the land upon which the Warehouse is located (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect to personal property owned by Landlord or other tenants nor any interest or penalty related to such taxes), and also its proportionate share of the cost of all fire, windstorm and other hazard insurance, including, without limitation, liability and rent loss coverage, carried upon the Warehouse of which the Leased Premises as Landlord are a part. Such proration shall, to the extent possible, take into consideration finished versus unfinished portions of the Warehouse. However, if Lessor is unable, in its reasonable discretion may deem appropriate. Tenant shall reimburse Landlord for all sole determination, to prorate such items taking into consideration finished versus unfinished portions of the Warehouse, taxes and insurance shall be prorated solely on a square footage basis. The square footage of the Leased Premises, at the present time, shall be deemed to be 45,330 square feet, and the total leasable space in the Warehouse is 117,600 square feet and, therefore, Lessee's proportionate share is 38.55%. Such percentage is subject to change if additional mezzanine space is added to other leased units. Lessee's proportionate share shall be the prorated for the actual number of months and days from the Commencement Date to January 1, next following the Commencement Date and Lessee shall pay the amount so determined to Lessor in equal monthly installments, concurrent with payment of the base rent, commencing on the Commencement Date and continuing through and including the rental payment due December 1, next following the Commencement Date. On or before January 31, next following the Commencement Date, and on or before each succeeding January 31, thereafter, Lessor shall estimate Lessee's pro rata share of the taxes and insurance costs for the succeeding calendar year, as provided herein above, and shall notify Lessee of the amount of said estimate. Lessee shall pay to Lessor monthly thereafter during the ensuing calendar year, concurrent with the payment of the base rental, 1/12th of the amount so estimated. Lessor shall keep annual records of the amount of taxes assessed and insurance costs paid and shall compute Lessee's pro rata share thereof. By no later than April 1 of each year of this lease, commencing April 1, 2000, Lessor shall notify Lessee of said amount of taxes and insurance costs. If the monthly payments previously made by Lessee are not sufficient to pay said taxes and insurance costs, Lessee shall pay to Lessor, within fifteen thirty (1530) days after receipt of notice from Landlord as to of said deficiency, the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for by which the actual costs of said taxes and insurance during exceeds the term of this Lease, and any extension or renewal thereof. If boxes are checked below, estimated amount paid by Lessee.-If the manner of reimbursement shall be as indicated: Taxes  The estimated amount paid by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on Lessee exceeds the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against and the Premises for cost of insurance, Lessor shall credit such excess to Lessee and shall reduce the previous tax year shall be used as a basis for determining the pro rata share, if any, estimated amount to be paid by Tenant Lessee for the ensuing year by that portion amount, or if a refund is owed to Lessee after the termination or expiration of the last Lease Year.  If this box is checkedLease, Tenant such amount, after deducting any amount owed by Lessee to Lessor, shall reimburse Landlord for taxes be paid to Lessee by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) no later than March 15 of the then current tax payments year immediately following the year for which the Premises. Upon receipt of bills, statements refund is due (this provision shall survive such termination or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9expiration).

Appears in 1 contract

Samples: Lease Agreement (Sportsmans Guide Inc)

Taxes and Insurance. 9. Landlord Expense From and after January 1, 2020, Tenant shall pay all taxes to Landlord, as Additional Rent, Tenant’s Allocable Share of Taxes and Insurance Expense (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises as Landlord in its reasonable discretion may deem appropriatethose terms are hereafter defined). Tenant shall reimburse pay to Landlord for all taxes and insurance as provided herein within fifteen (15) days after receipt of notice from Landlord as to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereofmonth, an amount equal to one- twelfth 1/12th of Landlord’s estimate of Tenant’s Allocable Share of Taxes and Insurance Expense (1/12“Estimated Monthly Payments”) of the then current tax payments that will be due and payable for the Premisescurrent Lease Year. Upon receipt Landlord may revise such Estimated Monthly Payments from time to time upon thirty (30) days prior notice to Tenant, but not more often than once per calendar year. If the Estimated Monthly Payments made by Tenant during a Lease Year exceed Tenant’s Allocable Share of billsTaxes and Insurance Expense due for such Lease Year, statements then Landlord shall, at Tenant’s election, credit or other evidence refund the overpayment to Tenant; if the Estimated Monthly Payments made by Tenant during a Lease Year are less than Tenant’s Allocable Share of taxes dueTaxes and Insurance Expense due for such Lease Year, Landlord then Tenant shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay underpayment to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment within thirty (as applicable30) as documented by Landlorddays after written demand therefor. Landlord shall have no provide Tenant with a statement of the actual amount of Taxes and Insurance Expense incurred with respect to each Lease Year within one hundred twenty (120) days after the end of each Lease Year. No delay of Landlord in delivering such estimates, statements, or notices shall relieve Tenant of its obligation to segregate pay any amounts due under this Section, provided Landlord shall not be permitted to xxxx Tenant for any Taxes and Insurance Expense for a Lease Year arising more than three (3) years prior to the date of Landlord’s statement for that Lease Year. Any and all personal property taxes or otherwise account for the tax reimbursements other taxes levied against Tenant or Tenant’s personal property shall be paid hereunder except as provided in this paragraph 9directly by Tenant.

Appears in 1 contract

Samples: Loan and Security Agreement (4Front Ventures Corp.)

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Taxes and Insurance. 9. Landlord shall pay all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises as Landlord in its reasonable discretion may deem appropriate. Tenant shall reimburse Landlord for all taxes and insurance as provided herein within fifteen (15) days after receipt of notice from Landlord as to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term of this Lease, and any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall Mortgagor will pay or cause to be paid all real estate taxes and assessments on the Mortgaged Premises and all insurance premiums for hazard and liability insurance covering the Mortgaged Premises as the same shall become due as further set forth in the Loan Agreement. Furthermore, Mortgagor shall submit evidence of payment of the same upon written request from Mortgagee. In the event of a default in the payment of such taxes or insurance then Mortgagee shall be permitted to pay the taxes and/or insurance to protect the Mortgaged Premises and charge the same to the Mortgagor as additional indebtedness secured by the Mortgage. Notwithstanding the foregoing, Mortgagee shall reserve the right to require Mortgagor to pay to Mortgagee in addition to the monthly installments of principal and interest a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this Mortgage plus one-twelfth of yearly premium installments for hazard insurance, all as reasonably estimated initially and from time to time by Mortgagee on the basis of assessments and bills and reasonable estimates thereof. The Funds shall be held by Mortgagee, who shall apply the Funds to pay said taxes, assessments and insurance premiums. Mortgagee shall make no charge for so holding and applying the Funds or verifying and compiling said assessments and bills. Mortgagee shall not be required to pay Mortgagor any interest on the Funds. Mortgagee shall give to Mortgagor, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the indebtedness secured by this Mortgage. Funds paid hereunder may be commingled with other funds of the Mortgagee. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid the Funds held by LandlordMortgagee shall not be sufficient to pay taxes, Tenant assessments and insurance premiums as they fall due, Mortgagor shall upon demand pay to Landlord an Mortgagee the amount equal of any such deficiency within thirty days after notice from Mortgagee to the deficiency or Landlord Mortgagor requesting payment thereof. Upon payment in full of all sums secured by this Mortgage, Mortgagee shall promptly refund to Tenant Mortgagor any overpayment (as applicable) as documented Funds held by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9Mortgagee.

Appears in 1 contract

Samples: Mortgage With Power of Sale, Security Agreement (Glimcher Realty Trust)

Taxes and Insurance. 9. Landlord shall Lessor will, in the first instance, pay all taxes (including but not limited to, ad valorem the taxes, special levies and assessments on or in respect of Lessor's ownership of the Leased Premises and, during the continuance of this Lease, Lessee shall reimburse to Lessor the amount of such taxes, levies, and any assessments attributable to the Leased Coal and the Leased Premises, but excluding taxes attributable to all rights excepted and reserved, if separately assessed, including taxes attributable to timber, oil, gas and other governmental charges) on minerals, promptly upon receipt of The symbol [***] is used to indicate that a portion of the Premises exhibit has been omitted and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance filed separately with the commission. Confidential treatment has been requested with respect to the Premises omitted portion. Lessor's statement therefor, such amounts to constitute and be treated as Landlord in its reasonable discretion may deem appropriateadditional rental hereunder; provided that the obligation of Lessee shall be prorated for any partial calendar years for the first year and the last year of this Lease. Tenant Lessee shall reimburse Landlord for promptly pay at the several times they become due and payable all taxes levied or assessed upon coal mined from or products manufactured from coal upon the Leased Premises. Lessee shall also pay any and insurance as provided herein within fifteen (15) days after all taxes due to the state and/or its subdivision for severing, removing, processing, or preparing of said coal, except for taxes on gross or net income of Lessor on receipt of notice from Landlord as royalties, and Lessee shall also pay all royalties for removal of coal required by any existing or future labor agreements of lessee, its agents, operators or affiliates. If Lessor fails to pay the amount due. Tenant shall be solely responsible for insuring Tenant’s personal taxes, levies and business property and for paying assessments set forth above or if there are any taxes or governmental assessments levied thereonencumbrances due on the Leased Premises, then Lessee may pay the same and any penalties, or redeem the Leased Premises from a tax sale, and deduct the amount expended attributable to taxes attributable to all rights excepted or reserved, if separately assessed, as well as penalties and interest assessed due to Lessor's failure to timely pay any taxes, levies and assessments, from any rents and royalties subsequently accruing. Tenant shall reimburse Landlord for taxes and insurance Lessee may, at any time during the term continuance of this Lease, at its own cost and expense, and after reasonable notice to Lessor of its intention so to do, contest any extension of the taxes, levies, or renewal thereofassessments to be borne by Lessee as above provided. If boxes In the event of any such contest, Lessee is authorized to proceed in the name of Lessor with respect to the reversionary interest of Lessor in the Leased Premises, but Lessee shall indemnify Lessor against any costs, penalties, expenses, or interest charges arising out of such contest. Lessee shall submit to Lessor, for its review, a copy of annual coal appraisal reports or returns prepared pursuant to laws or regulations in the State of West Virginia with respect to Lessor's ownership prior to the filing with any governmental agency. It is understood and agreed that the taxes levied or assessed from such reports are checked belowbased, in part, upon the manner permitting and/or production of reimbursement Lessee and for that reason, Lessee's payments to Lessor as provided for in this section shall continue and survive any termination of this Lease until the earlier of such time as (a) said taxes levied or assessed are not based on the designation of the Leased Coal as "permitted" under said coal appraisal reports or returns, (b) the Leased Coal is leased to any third parties (or if partially leased, to the extent so leased); or (c) five years following termination of this Lease. Notwithstanding the foregoing, after termination of the Lease, Lessee's responsibilities for payment of taxes shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on to the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal incremental difference between the amount of taxes paid due based on the designation of coal reserves as permitted on such coal appraisal reports or returns and the amount of taxes that would be due if such reserves were designated as unpermitted on such coal appraisal reports and returns. Lessor shall use its commercially reasonable efforts to minimize all taxes payable by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in Lessee under this paragraph 9Lease.

Appears in 1 contract

Samples: Mining Lease (Alpha Natural Resources, Inc.)

Taxes and Insurance. 9. Landlord shall Lessor will, in the first instance, pay all taxes (including but not limited to, ad valorem the taxes, special levies and assessments on or in respect of Lessor's ownership of the Leased Premises and, during the continuance of this Lease, Lessee shall reimburse to Lessor the amount of such taxes, levies, and assessments attributable to the Leased Coal and the Leased Premises, but excluding taxes attributable to all rights excepted and reserved, if separately assessed, including taxes attributable to timber, oil, gas and other minerals, after Lessee's receipt of Lessor's statement therefor, such amounts to constitute and be treated as additional rental hereunder; provided that the obligation of Lessee shall be prorated for any partial calendar years for the first year and the last year of this Lease. Lessee shall promptly pay at the several times they become due and payable all taxes levied or assessed upon coal mined from or products manufactured from coal upon the Leased Premises. Lessee shall also pay any and all taxes due to the state and/or its subdivision for severing, removing, processing, or preparing of said coal, except for taxes on gross or net income of Lessor on receipt of royalties, and Lessee shall also pay all royalties for removal of coal required by any existing or future labor agreements of lessee, its agents, operators or affiliates. If Lessor fails to pay the taxes, levies and assessments set forth above or if there are any taxes or encumbrances due on the Leased Premises, then Lessee may pay the same and any other governmental charges) on penalties, or redeem the Leased Premises from a tax sale, and shall procure deduct the amount expended attributable to taxes attributable to all rights excepted or reserved, if separately assessed, as well as penalties and interest assessed due to Lessor's failure to timely pay for any taxes, levies and assessments, from any rents and royalties subsequently accruing. Lessee may, at any time during the continuance of this Lease, at its own cost and expense, and after reasonable notice to Lessor of its intention so to do, contest any of the taxes, levies, or assessments to be borne by Lessee as above provided. In the event of any such commercial general liabilitycontest, broad form fire and extended and special perils insurance Lessee is authorized to proceed in the name of Lessor with respect to the Premises as Landlord reversionary interest of Lessor in the Leased Premises, but Lessee shall indemnify Lessor against any costs, penalties, expenses, or interest charges arising out of such contest. Lessee shall submit to Lessor, for its reasonable discretion may deem appropriatereview, a copy of annual coal appraisal reports or returns prepared pursuant to laws or regulations in the Commonwealth of Virginia with respect to Lessor's ownership prior to the filing with any governmental agency. Tenant shall reimburse Landlord It is understood and agreed that the taxes levied or assessed from such reports are based, in part, upon the permitting and/or production of Lessee and for all taxes and insurance that reason, Lessee's payments to Lessor as provided herein within fifteen for in this section shall continue and survive any termination of this Lease until the earlier of such time as (15a) days after receipt said taxes levied or assessed are not based on production or the designation of notice from Landlord the Leased Coal as mineral under development, (b) the Leased Coal is leased to any third parties (or if partially leased, to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes extent so leased); or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during the term (c) one year following termination of this Lease. Notwithstanding the foregoing, and any extension or renewal thereof. If boxes are checked belowafter termination of the Lease, the manner Lessee's responsibilities for payment of reimbursement taxes shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on to the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal incremental difference between the amount of taxes paid due based on the designation of coal reserves as mineral under development and the amount of taxes that would be due if such reserves were not under development. Lessor shall use its commercially reasonable efforts to minimize all taxes payable by Landlord, Tenant shall upon demand pay Lessee under this Lease. The symbol [***] is used to Landlord an amount equal indicate that a portion of the exhibit has been omitted and filed separately with the commission. Confidential treatment has been requested with respect to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9omitted portion.

Appears in 1 contract

Samples: Mining Lease (Alpha Natural Resources, Inc.)

Taxes and Insurance. 94. Landlord Sublessee shall pay upon demand, as additional rental during the term of this Sublease and any extension or renewal thereof, the amount by which all taxes (including including, but not limited to, ad valorem taxes, special assessments and any other governmental charges) payable by the Sublessor on the Premises subleased premises. The tax for the subleased premises shall be determined by proration on the basis that the rentable floor area of the subleased premises bears to the rentable floor area of entire property assessed. Sublessee agrees to pay the amount for all taxes levied upon or measured by the rent payable hereunder, whether as a so-called sales tax, transaction privilege tax, excise tax, or otherwise (but no income taxes of Landlord shall be payable by Tenant). Such taxes shall be due and shall procure payable at the same time as and in addition to each payment of rent. Sublessee agrees to pay Landlord as additional rental, Sublessee's pro rata share of the insurance premiums payable by Sublessor for such commercial general liability, broad form fire and extended and special perils insurance with respect coverage. Sublessor's pro rata share shall be based on the square footage of the subleased premises leased to Sublessor (as specified above) compared to the Premises as Landlord total square footage of leasable space in its reasonable discretion may deem appropriatethe entire building. Tenant shall reimburse Landlord for all taxes and insurance as provided herein Sublessee agrees to pay Sublessor said increased amount within fifteen thirty (1530) days after receipt of a notice in writing from Landlord as Sublessor, of the increase in said insurance premiums. If during the final year of the Sublease, or any extension or renewal thereof, the term does not coincide with the year upon which the insurance rate is determined, the increase in premiums for the portion of that year shall be prorated according to the amount duenumber of months during which tenant is in possession of the subleased premises. Tenant Sublessee, at his expense, shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance maintain at all times during the term of this LeaseSublease agreement, auto and public liability insurance with a minimum combined single limit of $1,000,000.00 per occurrence and worker's compensation insurance with mandatory statutory limits. All such policies shall name Sublessor and Landlord as additional named insureds, and provide for 20 days written notice prior to cancellation for any extension or renewal thereofreason. If boxes are checked below, the manner Appropriate certificates of reimbursement shall insurance will be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year delivered to Sublessor prior to occupancy of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends shall be reduced by the pro rata part of such tax year beyond the Lease term. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year shall be used as a basis for determining the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning on the Rent Commencement Date and on the first day of each calendar month during the term hereof, facilities an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlord, Tenant shall upon demand pay to Landlord an amount equal to the deficiency or Landlord shall refund to Tenant any overpayment (as applicable) as documented by Landlord. Landlord shall have no obligation to segregate or otherwise account for the tax reimbursements paid hereunder except as provided in this paragraph 9applicable renewal date.

Appears in 1 contract

Samples: Professional Transporation Group LTD

Taxes and Insurance. 9. Landlord From and after the Commencement Date and for the lease term, Tenant shall pay all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on to Landlord without set-off or deduction the Premises and shall procure and pay for such commercial general liability, broad form fire and extended and special perils insurance with respect to the Premises as Landlord in its reasonable discretion may deem appropriate. Tenant shall reimburse Landlord for all amount of taxes and insurance as provided herein within fifteen (15) days after receipt of notice from Landlord as to the amount due. Tenant shall be solely responsible for insuring Tenant’s personal and business property and for paying any taxes or governmental assessments levied thereon. Tenant shall reimburse Landlord for taxes and insurance during assessed upon the term of this Leasepremises and the underlying realty (except as otherwise provided in Section 8.4), and the cost to Landlord of the insurance that Landlord maintains pursuant to Section 10.5 below. Such sum for any extension or renewal thereof. If boxes are checked below, the manner of reimbursement shall be as indicated: Taxes  The amount by which all taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax partial year exceed all taxes on the Premises for the tax year ; or  All taxes (including but not limited to, ad valorem taxes, special assessments and any other governmental charges) on the Premises for each tax year. If the final Lease Year of the term fails to coincide with the tax year, then any excess for the tax year during which the term ends hereof shall be reduced by the pro rata part of such tax year beyond the Lease termprorated based on a three hundred sixty (360)-day year. If such taxes for the year in which the Lease terminates are not ascertainable before payment of the last month’s rental, then the amount of such taxes assessed against the Premises for the previous tax year Payment shall be used as a basis for determining made in the pro rata share, if any, to be paid by Tenant for that portion of the last Lease Year.  If this box is checked, Tenant shall reimburse Landlord for taxes by paying to Landlord, beginning following manner: on the Rent Commencement Date and on the first day of each calendar month thereafter during the term hereof, an amount equal to one- twelfth (1/12) of the then current tax payments for the Premises. Upon receipt of bills, statements or other evidence of taxes due, Landlord shall pay or cause to be paid the taxes. If at any time the reimbursement payments by Tenant hereunder do not equal the amount of taxes paid by Landlordthis Lease, Tenant shall upon demand pay to Landlord an amount equal estimated by Landlord to be the deficiency monthly sum payable hereunder. Landlord may periodically adjust the monthly estimated sum on the basis of Landlord's experience and estimated future costs. Within a reasonable period of time after the end of each calendar year, or Landlord shall refund to Tenant any overpayment (as applicable) as documented by at Landlord's option, each tax year,. Landlord shall have no obligation provide Tenant with a statement covering such year showing the total tax and insurance expenses payable by Tenant and the payments actually made by Tenant. If the sums payable exceed Tenant's payments, Tenant shall pay Landlord the deficiency within ten (10) days of receipt of such statement. If Tenant's payments exceed the sums payable, Tenant shall be entitled to segregate or otherwise account offset the excess against payments thereafter due Landlord under this Section. Neither Landlord's failure to xxxx Tenant monthly for the tax reimbursements paid hereunder except sums due as provided set forth above or Landlord's failure to collect same from Tenant or request payment thereof by Tenant or to provide Tenant with any necessary statements of the sums due under this Section, shall constitute a waiver by Landlord of Landlord's right to collect same from Tenant at any later time after providing any such statements, information, request or demand, nor shall the lapse of time in this paragraph 9any way estop Landlord or prevent Landlord from collecting the sums payable by Tenant.

Appears in 1 contract

Samples: Sports Arenas Inc

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