Common use of The Tax Increase Clause in Contracts

The Tax Increase. For purposes of this SECTION 4.6, the term “Tax INCREASE” shall mean that portion of the Tax Expenses, as calculated immediately following the Reassessment, which is attributable solely to the Reassessment. Accordingly, the term Tax Increase shall not include any portion of the Tax Expenses, as calculated immediately following the Reassessment, which (i) is attributable to the initial assessment of the value of the Real Property, the base, shell and core of the Building, or the tenant improvements located in the Building, (11) is attributable to assessments pending immediately prior to the Reassessment, which assessments were conducted during, and included in, such Reassessment, or which assessments were otherwise rendered unnecessary following the Reassessment, or (iii) is attributable to the annual inflationary increase to real estate taxes.

The Tax Increase. For purposes of this SECTION 4.6Section 3(e), the term “"Tax INCREASE” Increase" shall mean that portion of the Tax ExpensesCosts, as calculated immediately following the Reassessment, which is attributable solely to the Reassessment. Accordingly, the term "Tax Increase Increase" shall not include any portion of the Tax Expenses, as calculated immediately following the Reassessment, Costs which (iA) is attributable to the initial assessment of the value of the Real PropertyProperty or the Project, the base, shell and core of the Building, Project or the tenant improvements located in the BuildingProject, (11B) is attributable to assessments which were pending immediately prior to the Reassessment, Reassessment which assessments were conducted during, and included in, such Reassessment, or which assessments were otherwise rendered unnecessary following the Reassessment, or (iiiC) is attributable to the annual inflationary increase to of real estate taxestaxes (currently two percent (2.0%) per annum).

The Tax Increase. For purposes of this SECTION 4.6Section 3(f), the term “Tax INCREASEIncrease” shall mean that portion of the Tax ExpensesCosts, as calculated immediately following the Reassessment, which is attributable solely to the Reassessment. Accordingly, the term “Tax Increase Increase” shall not include any portion of the Tax Expenses, as calculated immediately following the Reassessment, Costs which (iA) is attributable to the initial assessment of the value of the Real PropertyProperty or the Project, the base, shell and core of the Building, Project or the tenant improvements located in the BuildingProject, (11B) is attributable to assessments which were pending immediately prior to the Reassessment, Reassessment which assessments were conducted during, and included in, such Reassessment, or which assessments were otherwise rendered unnecessary following the Reassessment, or (iiiC) is attributable to the annual inflationary increase to of real estate taxestaxes (currently two percent (2.0%) per annum).

The Tax Increase. For purposes of this SECTION 4.6Article 4, the term “Tax INCREASEIncrease” shall mean that portion of the Tax Expenses, as calculated immediately following the Reassessment, which is attributable solely to the Reassessment. Accordingly, the term Tax Increase shall not include any portion of the Tax Expenses, as calculated immediately following the Reassessment, which (i) is attributable to the initial assessment of the value of the Real Property, the base, shell and core of the Building, Building or the tenant improvements located in the Building, (11ii) is attributable to assessments which were pending immediately prior to the Reassessment, Reassessment which assessments were conducted during, and included in, such Reassessment, or which assessments were otherwise rendered unnecessary following the Reassessment, or and (iii) is attributable to the annual inflationary increase to of real estate taxes, but not in excess of two percent (2.0%) per annum.