Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease in the event that at any time during the first seven (7) years of the Lease Term, any sale, refinancing, or change in ownership of such Building is consummated, and as a result thereof, and to the extent that in connection therewith, a Reassessment occurs pursuant to the terms of Proposition 13, then the terms of this Section 4.4.4 shall apply to such Reassessment for the Building.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that, at any time during the initial Lease Term subsequent to the Base Year, any sale, refinancing, or change in ownership of the Building or Project is consummated, and as a result thereof, and to the extent that in connection therewith, the Building or Project is reassessed (a “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13 (or any successor laws), then the TCCs of this Article 4.5 shall apply to such Reassessment of the Building and/or Project. Main Lease
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that, at any time during the initial Term, a change in ownership of the Project is consummated, and as a result thereof, and to the extent that in connection therewith, the Project is reassessed (the "REASSESSMENT") for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the terms of this Section 10.3 shall apply to such Reassessment. This Section 10.3 shall not apply during any Option Period.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that at any time during the first five (5) Lease Years, any sale, refinancing, or change in ownership of the Project is consummated, and as a result thereof, and to the extent that in connection therewith the Project is reassessed (the "Reassessment") for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the terms of this Section 4.4.4 shall apply to such Reassessment of the Project.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that, at any time during the initial Lease Term, any sale, refinancing, or change in ownership of the Building or Project is consummated (specifically excluding, however, a change in ownership due to a “Portfolio Sale,” as that term is defined below, and a change in ownership to a lender resulting from a foreclosure or a deed-in-lieu of foreclosure), and as a result thereof, and to the extent that in connection therewith, the Building or Project is reassessed (the “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the TCCs of this Section 4.6 shall apply to such Reassessment of the Building or Project. For purposes of this Section 4.6, a “Portfolio Sale” shall mean a sale of the Project together with one or more other buildings owned by Landlord (other than any other buildings located in the Project).
Tenant’s Payment of Certain Tax Expenses. Notwithstanding any provision to the contrary contained in this Lease, in the event that, at any time during the “Protection Period”, as that term is defined in Section 4.6.2, below, a sale, refinancing, or change in ownership of the Building on a single-asset basis only is consummated (specifically excluding, however, (x) a change in ownership to a lender resulting from a foreclosure or a deed-in-lieu of foreclosure, (y) a multi-building sale, refinance or change in ownership, or (z) a portfolio sale, refinance or change in ownership transaction), and as a result thereof, and to the extent that in connection therewith, the Building is reassessed (the “Building Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the TCCs of this Section 4.6 shall apply to such first (1st) Building Reassessment only (i.e., a subsequent sale, refinancing or change in ownership of the Building shall not be afforded the protection granted herein). Notwithstanding any provision to the contrary contained herein, in no event shall the provisions of this Section 4.6 apply with respect to any change in laws which give rise to an increase in Tax Expenses, including, but not limited to, any change in Proposition 13 as currently enacted.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that at any time during the first five (5) years of the Lease Term commencing with the Rent Commencement Date, (i) any change in ownership (as defined in Division 1, Part 0.5, Chapter 2 of the California Revenue and Taxation Code) of the Project, the Buildings or any part thereof, (ii) any similar or comparable sale, encumbrance or transfer of any portion of the Project, the Buildings or any interest therein, or (iii) any major alteration of the Project is commenced and/or consummated, and as a result thereof, and to the extent that in connection therewith, the Project, the Buildings or any part thereof, is reassessed so as to establish a new base year for real estate tax purposes under California law (an "Exempted Reassessment"), then the terms of this Section ------- 7.1.3.5 shall apply. -------
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that, at any time during the initial Lease Term, any sale, refinancing, or change in ownership of any of the Buildings or the Project is consummated (in any event, a “Sale”), and as a result thereof, and to the extent that in connection therewith, any of the Buildings or the Project is reassessed (the “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the terms, covenants and conditions of this Section 4.8 shall apply to such Reassessment of the Building(s) or Project.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease, in the event that, at any time during the initial Lease Term, any sale, or change in ownership of the Project at arm's length is consummated, and as a result thereof, and to the extent that in connection therewith, the Project is reassessed (the "Reassessment") for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13, then the terms of this Section 4.6 shall apply to the first such Reassessment of the Project.
Tenant’s Payment of Certain Tax Expenses. Notwithstanding anything to the contrary contained in this Lease and provided that Tenant is not then in default under this Lease beyond the expiration of any applicable notice and cure period, in the event that, at any time from September 1, 2015-August 31, 2017, any sale of the Project is consummated (specifically excluding, however, a change in ownership due to a “Portfolio Sale,” as that term is defined below, and a change in ownership to a lender resulting from a foreclosure or a deed-in-lieu of foreclosure), and as a result thereof, and to the extent that in connection therewith, the Project is reassessed (the “Reassessment”) for real estate tax purposes by the appropriate governmental authority pursuant to the terms of Proposition 13 and such Reassessement results in a “Tax Increase,” as that term is defined below, then the terms of this Section 4.6 shall apply to such Reassessment of the Project. For purposes of this Section 4.6, a “Portfolio Sale” shall mean a sale or other transfer of all or any portion of the Project, together with one or more other buildings.
