Operational Tax definition

Operational Tax means any sales and use taxes or real and personal property taxes and, if and to the extent that interest pertains to and originates from such taxes, then interest, but not penalties, additions to tax or additional amounts, pertaining to such taxes imposed by any Taxing Authority.
View Source

Examples of Operational Tax in a sentence

  • Tenant shall pay to Landlord, commencing with the first Operational Tax Year, as Additional Rent, Tenant’s “Projected Tax Shares”.

  • If Landlord’s Tax Statement with respect to an Operational Tax Year shall indicate that Tenant’s Projected Tax Shares exceeded Tenant’s Proportionate Shares of the Tax Increases for such Operational Tax Year, Landlord shall forthwith credit the amount of such excess against the subsequent payments of Rent due hereunder.

  • On the first day of each month of each Operational Tax Year during the Term, Tenant shall pay to Landlord one-twelfth (1/12) of its Projected Tax Shares for such Operational Year.

  • If Landlord’s statement shall indicate that Tenant’s Proportionate Shares of the Tax Increases exceeded Tenant’s Projected Tax Shares for such Operational Tax Year, Tenant shall forthwith pay the amount of such excess to Landlord.