Definition of Tenants Tax Percentage


Tenants Tax Percentage shall mean the percentage determined by dividing the Rentable Area of the Premises by the total Rentable Area of all buildings on the same tax parcel on which the Building is located.

Examples of Tenants Tax Percentage in a sentence

Taxes for any calendar year during the Term are greater than Taxes for the Base Tax Year, Tenant shall pay to Landlord Tenants Tax Percentage of such excess.
Commencing on the Effective Date, Tenants OMC Percentage and Tenants Tax Percentage shall be 21.183%, based upon the rsf of the Premises as of the Effective Date of 57,786 which equals 21.183% of 272,793, the total rsf of the Office Portion of the Building.
Landlord receives a refund of Taxes for any Tax Year, Landlord shall either pay to Tenant Tenants Tax Percentage of the net refund after deducting from such refund the costs and expenses of obtaining same (to the extent that such costs and expenses were not included in Tax Expenses); provided, however, such payment or credit to Tenant shall in no event exceed Tenants Tax Payment paid for such Tax Year.
Exhibit H designates Rentable Square Footage, Tenants Tax Percentage and Wage Rate Multiple for each of the Additional Floors pursuant to this Article.
In no event shall the rentable square footage of the Building, for purposes of determining Tenants Tax Percentage or Tenants Operating Expense Percentage, be less than 960,178.