Tax Escalation Year definition

Tax Escalation Year means each fiscal year commencing July 1st and ending on the following June 30th which shall include any part of the Demised Term.

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Tax Escalation Year means (x) with respect to Taxes imposed on a fiscal year basis, any fiscal tax year after the 2014/2015 fiscal tax year which shall include any part of the Term, and (y) with respect to Taxes imposed on a calendar year basis, any calendar year after the 2014 calendar year which shall include any part of the Term.”

Tax Escalation Year means any subsequent 12 month period commencing January 1 and ending December 31, all or any part of which is included within the period covered by this Lease.

Examples of Tax Escalation Year in a sentence

• Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises, an Owner's Tax Statement with respect to each Tax Escalation Year, either prior to or during such Tax Escalation Year.

• If Taxes payable in any Tax Escalation Year shall be in such amount as shall constitute an increase above Owner's Basic Tax Liability, the Fixed Rent for such Tax Escalation Year shall be increased by a sum equal to Tenant's Proportionate Share of any such increase in Taxes.

• Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, nor shall it deprive Tenant of any credit to which it otherwise might be entitled with respect to such Tax Escalation Year pursuant to the provisions of Subsection D of this Section 23.03.

• Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year nor shall it deprive Tenant of any credit to which it otherwise might be entitled to for any Tax Escalation Year pursuant to the provisions of subsection B of this Section 23.03.

• The Fixed Rent for each Tax Escalation Year shall be increased by a sum equal to Tenant's Proportionate Share of Taxes for such Tax Escalation Year.

• Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, nor shall it deprive Tenant of any credit to which it otherwise might be entitled for such Tax Escalation Year pursuant to the provisions of subsection B of this Section 23.03.

• Owner shall render to Tenant, either in accordance with the provisions of Article 27 or by personal delivery at the Demised Premises or by regular mail to the same address as Fixed Rent bills are sent by Owner, an Owner's Tax Statement with respect to each Tax Escalation Year, either prior to or during such Tax Escalation Year.

• Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, unless same is not rendered within two (2) years, nor shall it deprive Tenant of any credit to which it otherwise might be entitled to for any Tax 54 Escalation Year pursuant to the provisions of Subsection B of this Section 23.03.

• Owner’s failure to render an Owner’s Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner’s right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, nor shall it deprive Tenant of any credit to which it otherwise might be entitled with respect to such Tax Escalation Year pursuant to the provisions of Subsection D of this Section 23.03.

• Owner's failure to render an Owner's Tax Statement with respect to any Tax Escalation Year shall not prejudice Owner's right to recover any sums due to Owner hereunder with respect to such Tax Escalation Year, nor shall it deprive Tenant of any credit to which it otherwise might be entitled for such Tax Escalation Year pursuant to the provisions of subsection D of this Section 22.03.

More Definitions of Tax Escalation Year

Tax Escalation Year means each fiscal year commencing January 1st and ending on the following December 31st which shall include any part of the Demised Term. With respect to any Taxes (as defined in Section 23.01(C)) which are payable based on a period other than a Tax Escalation Year of January 1st through December 31st, the portion of such Taxes which will be included in any Tax Escalation Year shall be the portion thereof allocable and attributable to such Tax Escalation Year (e.g. with respect to the levying of school taxes for the period commencing on July 1, 2003 and ending on June 30, 2004 and for the period commencing on July 1, 2004 and ending on June 30, 2005, such school taxes levied against the Building for such periods shall be included in and allocable to the Tax Escalation Year commencing on January 1, 2004 and ending on December 31, 2005 as follows: one-half (1/2) of the total amount of such school tax levied for the school tax year commencing on July 1, 2003 and ending on June 30, 2004 and one-half (1/2) of the total amount of such school tax levied for the school tax year commencing on July 1, 2004 and ending on June 30, 2005).