Base Tax Year definition
Examples of Base Tax Year in a sentence
Should Landlord be successful in any such reduction proceedings and obtain a refund for any Tax Year or Years after the Base Tax Year in respect of which Tenant shall have made a payment to Landlord, pursuant to this Section 6.1, Tenant’s Share of such refund (or, in the case of a refund of Taxes for a Tax Year, only a fraction of which is included in the Lease Term, such fraction thereof) shall be promptly refunded by Landlord to Tenant (within thirty (30) days following Landlord’s receipt thereof).
If the Taxes for any full Tax Year after the Base Tax Year and falling within the Lease Term shall exceed the Base Taxes, or if, in the case of a Tax Year only a fraction of which is included in the Lease Term, an amount of the Taxes for such Tax Year multiplied by such fraction exceeds the Base Taxes multiplied by such fraction (the amount of such excess in either case being hereafter referred to as the “Tax Excess”), then Tenant shall pay to Landlord, as Additional Rent, T▇▇▇▇▇’s Share of the Tax Excess.