Definition of Tax Excess


Tax Excess means the extent to which any of the Estimated Tax Liabilities exceed the relevant Completion Tax Liabilities in relation to a relevant Affected Seller;

Examples of Tax Excess in a sentence

Tenants Share of the Expense Excess and Tenants Share of the Tax Excess for any partial Expense Year shall be prorated based on the number of days in such Expense Year.
In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4, for each Expense Year (defined in Section 4.2.1), an amount equal to the sum of (a) Tenants Share of any amount (the Expense Excess) by which Expenses for such Expense Year exceed Expenses for the Base Year, plus (b) Tenants Share of any amount (the Tax Excess) by which Taxes for such Expense Year exceed Taxes for the Base Year.
Notwithstanding any contrary provision hereof, if, after Landlords delivery of any Statement, an increase or decrease in Taxes occurs for the applicable Expense Year or for the Base Year (whether by reason of reassessment, error, or otherwise), Taxes for such Expense Year or the Base Year, as the case may be, and the Tax Excess for such Expense Year shall be retroactively adjusted.
Landlord shall give to Tenant, after the end of each Expense Year, a statement (the Statement) setting forth the actual Expenses, Taxes, Expense Excess and Tax Excess for such Expense Year.
Within 60 days after receiving any Statement (the Review Notice Period), Tenant may give Landlord notice (Review Notice) stating that Tenant elects to review Landlords calculation of the Expense Excess and/or Tax Excess for the Expense Year to which such Statement applies and identifying with reasonable specificity the records of Landlord reasonably relating to such matters that Tenant desires to review.