Proportionate Share (Taxes) definition

Proportionate Share (Taxes) means a fraction, the numerator of which is the Rentable Area of the Premises and the denominator of which is the Total Rentable Area. In the event that the Building contains both office and retail premises, the Proportionate Share (Taxes) will be determined on the basis of the Rentable Area of the Premises and the Rentable Area of all rentable premises located in the office component of the Building (instead of the Total Rentable Area) and on the basis of the Taxes allocated to the office component of the Building or, if Taxes are not separately allocated between the office and the retail components, then on the basis of the share of the Taxes which should properly be allocated to the office component based on the assessment provided by the British Columbia Assessment Authority or its successor in legislation, of the office and the retail components);
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Proportionate Share (Taxes) means a fraction, the numerator of which is the Rentable Area of the Premises and the denominator of which is the Total Rentable Area. In the event that the Building contains both office and retail premises, the Proportionate Share (Taxes) will be determined on the basis of the Rentable Area of the Premises and the Rentable Area of all rentable premises located in the office component of the Building (instead of the Total Rentable Area) and on the basis of the Taxes allocated to the office component of the Building or, if Taxes are not separately allocated between the office and the retail components, then on the basis of the share of the Taxes which should properly be allocated to the office component based on the assessment provided by the British Columbia Assessment Authority or its successor in legislation, of the office and the retail components); [OR [DELETE INAPPROPRIATE CLAUSE]
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Proportionate Share (Taxes) means the fraction, the numerator of which represents the value which the Premises Value contributes to the Actual Value of the Building, and the denominator of which is the Actual Value of the Building (for the purposes of this definition:
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Examples of Proportionate Share (Taxes) in a sentence

  • Tenant shall pay to Landlord not later than fifteen (15) days prior to the date on which Taxes are required to be paid by Landlord, Tenant's Proportionate Share Taxes - Office Tower of Taxes payable for the Office Tower and Tenant's Proportionate Share Taxes - Retail Space of Taxes payable for the Retail Space for each Calendar Year.

  • The Landlord will make the initial determination of the Proportionate Share (Operating Costs) and Proportionate Share (Taxes) and any subsequent determinations which may be required as a result of change of circumstances.

  • Tenant also agrees that it shall remain responsible for Tenant’s Proportionate Share Taxes - Office Tower and Tenant’s Proportionate Share Taxes - Retail Space for any Contraction Space with respect to which Tenant has exercised its option under Section 31 for the Calendar Year in which such Contraction Space is vacated by Tenant through the applicable Contraction Date, although payable in the subsequent Calendar Year.

  • Landlord shall provide Tenant with a copy of the most recent Tax bills for the Office Tower and Retail Space and a statement indicating Tenant's Proportionate Share Taxes - Office Tower of Taxes for the Office Tower and Tenant's Proportionate Share Taxes - Retail Space of Taxes for the Retail Space at least forty (40) days prior to the date such Taxes are due.

  • In addition to the foregoing, for the first twelve (12) months of the Term, on the first day of each such month, Tenant shall pay to Landlord an amount equal to the sum of (i) one-twenty fourth (1/24th) of Tenant's Proportionate Share Taxes - Office Tower of Taxes for the Office Tower which were paid for Calendar Year 1996 and (ii) one-twenty fourth (1/24th) of Tenant's Proportionate Share Taxes -Retail Space of Taxes for the Retail Space which were paid for Calendar Year 1996 (said sum, the "Tax Escrow").

  • Landlord shall provide Tenant with a copy of the most recent Tax bills for the Office Tower and Retail Space and a statement indicating Tenant’s Proportionate Share Taxes - Office Tower of Taxes for the Office Tower and Tenant’s Proportionate Share Taxes - Retail Space of Taxes for the Retail Space at least forty (40) days prior to the date such Taxes are due.

  • Tenant shall pay to Landlord not later than fifteen (15) days prior to the date on which Taxes are required to be paid by Landlord, Tenant’s Proportionate Share Taxes - Office Tower of Taxes payable for the Office Tower and Tenant’s Proportionate Share Taxes - Retail Space of Taxes payable for the Retail Space for each Calendar Year.

  • If Tenant fails to pay to Landlord Tenant’s Proportionate Share - Office Tower of Taxes for the Office Tower and Tenant’s Proportionate Share Taxes - Retail Space of Taxes for the Retail Space for the Calendar Year when due as provided herein, Landlord may apply the Tax Escrow to the amount of Taxes owed by Tenant.

  • Notwithstanding anything to the contrary contained herein, Tenant shall pay Tenant’s Proportionate Share Taxes - Office Tower of 1997 Taxes for the Office Tower and Tenant’s Proportionate Share Taxes - Retail Space of 1997 Taxes for the Retail Space for the entire Calendar Year 1997, regardless of when the Commencement Date of this Lease actually occurs.

  • On the Termination Date, Tenant shall pay into the Tax Escrow an amount necessary to increase the Tax Escrow to the amount of Tenant’s Proportionate Share Taxes - Office Tower of Taxes for the Office Tower and Tenant’s Proportionate Share Taxes - Retail Space of Taxes for the Retail Space for Taxes which have accrued in the Calendar Year in which the Termination Date occurs through the Termination Date.