Tenants Proportionate Tax Share shall mean the percentage specified in ARTICLE 1 hereof, being the percentage calculated by dividing the rentable area contained in the Premises by 824,186 (being 95% of the rentable square foot area of the Office Section).
Examples of Tenants Proportionate Tax Share in a sentence
Tenant shall pay to Landlord or Landlords agent as Additional Rent, a sum (Adjustment Amount) equal to the sum of (i) Tenants Proportionate Expense Share multiplied by the amount by which (a) Operating Expenses incurred in each Calendar Year exceeds (b) Base Year Operating Expenses plus (ii) Tenants Proportionate Tax Share multiplied by the amount by which (a) Taxes payable with respect to each Calendar Year exceeds (b) Base Year Taxes.
Commencing with the Rent Commencement Date, Tenant shall pay to Landlord an amount (Tenants BID Payment) equal to Tenants Proportionate Tax Share of the BID Assessment for the Tax Year in which the Rent Commencement Date occurs and each Tax Year thereafter.
As of the Execution Date, (A) the RSF for the Premises during the Initial Term shall be deemed to be 31,753 and (B) Tenants Proportionate Tax Share for the Premises is 4.513%, subject to adjustment In the event Tenant leases any other space in the Unit.
Tenant shall pay to Landlord an amount (Tenants Tax Payment) for each Tax Year commencing on the later of (a) the Rent Commencement Date or (b) the day of the first Tax Year after the expiration of the Tax Base Year (i.e., January 1, 2009), equal to Tenants Proportionate Tax Share of the increase, if any, in Taxes for such Tax Year over the Base Year Taxes.
Should Landlord be successful in any such reduction proceedings and obtain a rebate for any Tax Year for which Tenant has paid installments of the Tax Payment, Landlord, after deducting the reasonable expenses incurred in obtaining such rebate including, without limitation, attorneys' fees, court, or other administrative costs and disbursements, shall credit Tenant's Proportionate Tax Share of such rebate against the next monthly installments of the Fixed Rent payable under this Lease.