BID Charges definition
BID Charges means business improvement district taxes and similar charges imposed on the Building and/or the Real Property and any expenses incurred by Landlord in contesting the same.
BID Charges shall have the meaning set forth in Section 3.1(B).
BID Charges means all charges imposed upon or against the Land and/or Building, Landlord or the Landlord of the Land and/or Building with respect to any business improvement district.
Examples of BID Charges in a sentence
At any time after the expiration of such year, Landlord may furnish to Tenant a statement (which shall include invoices or other reasonably detailed evidence of the BID Charges for such calendar year) setting forth the Tenant’s BID Payment for such year, which Tenant shall pay within thirty (30) days after Tenant’s receipt of such statement from Landlord.
The benefit of any discount for any early payment or prepayment of Taxes and BID Charges shall accrue solely to the benefit of Landlord, and such discount shall not be subtracted from the Tax Payment or the BID Payment, respectively.
In addition to Tenant’s Tax Payment, Tenant shall pay to Landlord, as additional rent, with respect to each Tax Year during the Term of this lease, an amount (collectively, “Tenant’s BID Payment”) equal to Tenant’s Tax Proportionate Share of the BID Charges (as hereinafter defined) for such Tax Year.
The BID Charges upon which Tenant’s BID Payment is based shall be appropriately pro rated for the calendar years in which the Possession Date and Expiration Date shall occur.
If, during the Term, Taxes or BID Charges are required to be paid (either to the appropriate taxing authorities or as tax escrow payments to the Lessor or the Mortgagee), in full or in quarterly or other installments on any other date or dates than as presently required, then Tenant’s Tax Payments shall be correspondingly accelerated or revised so that Tenant’s Tax Payments are due at least thirty (30) days prior to the date payments are due to the taxing authorities, the Lessor or the Mortgagee.
More Definitions of BID Charges
BID Charges means all charges paid by Landlord with respect to the Real Property 29 to any Governmental Authority or to Net Lessor on account of any business improvement district or 30 similar charges or assessments, including all such amounts payable under the Net Lease.
BID Charges means (i) business improvement district charges and any similar charges imposed on the Building and/or the Land, and (ii) any reasonable and customary expenses incurred by Landlord in contesting the same, which expenses shall be allocated to the PILOT Year to which such expenses relate. Expenses incurred in contesting BID Charges shall be those reasonably and customarily incurred by landlords of first class office buildings in downtown Manhattan. BID Charges shall not include (x) any component of Operating Expenses or (y) any interest and/or penalties resulting from the late payment of BID Charges by Landlord.
BID Charges means all charges imposed upon or against the Land and/or Building, Landlord or the landlord of the Land and/or Building with respect to any business improvement district. If at any time the method of taxation shall be altered so that in lieu of or as an addition to or as a substitute for, the whole or any part of such real estate taxes, assessments and special assessments now imposed on real estate, there shall be levied, assessed or imposed (x) a tax, assessment, levy, imposition, fee or charge wholly or partially as a capital levy or otherwise on the rents received therefrom, or (y) any other such substitute tax, assessment, levy, imposition, fee or charge, including, without limitation, business improvement district and transportation taxes, fees and assessments, then all such taxes, assessments, levies, impositions, fees or charges or the part thereof so measured or based shall be included in “Taxes”. Notwithstanding the foregoing, but subject to the immediately preceding sentence, “Taxes” shall not include (a) inheritance, estate, succession, transfer, gift, franchise, or capital stock tax; (b) any profit taxes, or any income taxes arising out of or related to ownership and operation of the Project or any other income-producing real estate, including, but not limited to, capital gains, mortgage recording or transfer tax; and (c) any fines, interest or penalties resulting from delinquent payments in respect of Taxes.
BID Charges means business improvement district charges imposed on the Building and/or the Land, and any expenses incurred by Owner in contesting the same. (f) The term “Taxes” as used herein shall mean all real estate taxes, including the New York State equalization factor if any, payable (adjusted after protest or litigation, if any) for any part of the term of this Lease, exclusive of penalties, interest or discounts, on the Building and/or the Land, (i) any new, or substitute, taxes which shall be levied in lieu of any such taxes or which shall be levied on the gross rentals of the Building and/or the Land, (ii) any special assessments against the Building and/or the Land which shall be required to be paid during the Tax Year in respect to which taxes are being determined, excluding BID Charges, and (iii) the expense of contesting the amount or validity of any such taxes, charges or assessments (such expense to be applicable to the period of the item contested). Taxes shall exclude excise, franchise, income, transfer, mortgage, and other conveyance, inheritance, estate, value added or encumbrance taxes imposed on Owner. In the event Owner successfully contests the Taxes for any Tax Year with a resulting decrease therein, Owner shall refund or credit to Tenant, as the case may be, Tenant’s Percentage of such decrease, less Tenant’s Percentage of the expenses incurred in contesting the Taxes pursuant to clause (iii) above. Owner reserves the right to recompute the Escalation Rent due hereunder in the event of a reduction of Taxes for the Base Tax Year, and ▇▇▇▇▇▇ agrees to pay such Escalation Rent within thirty (30) days of being billed therefor. Taxes (including in connection with determination of Taxes for the Base Tax Year) shall be calculated without taking into account any abatement or exemption which Owner may receive pursuant to the New York City Industrial and Commercial Abatement Program (ICAP) and the rules and regulations promulgated thereunder or any other tax abatement or exemption program. (g) The term “Operating Expenses” shall mean those costs and expenses incurred or paid by or on behalf of the Owner for any calendar year, in respect of the operation, cleaning, repair, safety, security, management or maintenance of the Building, and its plazas, sidewalks and curbs, and the equipment of the Owner therein, the services provided to tenants thereof and properly chargeable to the operation and maintenance of the Real Property. Operating Expenses shall be...
BID Charges means the Unit’s proportionate share of all current or future charges imposed upon or against the Building and/or the land on which it is located (the “Land”), Landlord or the Landlord of the Land and/or Building with respect to any business improvement district; and (ii) “Tenant’s BID Share” means 20.398%.
BID Charges means (i) business improvement district charges and any similar charges imposed on the Building and/or the Land and/or the Project, and (ii) any customary expenses incurred by Landlord in contesting the same, which expenses shall be allocated to the PILOT Year to which such expenses relate. Expenses incurred in contesting BID Charges shall be those customarily incurred by landlords of first class office buildings in downtown Manhattan. BID Charges shall not include any component of Operating Expenses.
BID Charges means (i) business improvement district charges and any similar charges imposed on the Real Property, and (ii) any customary out-of-pocket expenses, including but not limited to reasonable attorneys’ fees, actually incurred by Landlord in contesting the same, which expenses shall be allocated to the PILOT Year to which such expenses relate. BID Charges shall not include (x) any component of Operating Expenses or (y) any interest and/or penalties resulting from the late payment of BID Charges by Landlord.