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.”
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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).
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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.

  • 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'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.

  • 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 for such Tax Escalation Year pursuant to the provisions of subsection C of this Section 23.03.

  • Owner shall render to Tenant, either in accordance with the provisions of Article 26 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.


More Definitions of Tax Escalation Year

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.
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Related to Tax Escalation Year

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Production Year means the 12- month period between September 1 of one year and August 31 of the following year, inclusive.

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Base Tax Year means the property tax levy year used

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Base Year means the period set forth in Section 5 of the Summary.

  • Limitation Year means the Plan Year.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.

  • Benefit year means the period of twelve consecutive months, July 1 through June 30, as established by an employer in which an employee shall accrue and use earned sick leave as provided pursuant to N.J.S.A. 34:11D-2, provided that once the starting date of the benefit year is established by the employer it shall not be changed unless the employer notifies the Commissioner of Labor and Workforce Development of the change in accordance with regulations promulgated pursuant to the Act. The Commissioner shall impose a benefit year on any employer the Commissioner determines is changing the benefit year at times or in ways that prevent the accrual or use of earned sick leave by an employee.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Final Average Compensation means the average annual

  • Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;

  • Pre-Tax Earnings means the Corporation's earnings before income taxes as reported in the Company's Consolidated Income Statement for each fiscal year of the Performance Period, excluding any non-cash charge incurred in accordance with accounting principles generally accepted in the United States of America (GAAP) for any restricted stock or restricted stock unit awards granted during the Performance Period and all options, restricted stock and other equity compensation granted to Directors during the Performance Period.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.