Tenants Tax Proportionate Share shall mean 23.04%, calculated by dividing 34,795 (the Rentable Area of the Demised Premises) by the Building Office Space. The parties agree that Tenants Tax Proportionate Share, as set forth above, reflects and will be continually adjusted to reflect the ratio of the Rentable Area of the Demised Premises (including an allocable share of all common facilities) [the numerator] as compared with the Building Office Space [the denominator]. Landlord shall have the right to make changes or revisions in the Building so as to convert Building Office Space to Building Flex Space (and visa versa) and to provide additional leasing area, provided, however, if Landlord converts Building Office Space to Building Flex Space (or visa versa), Landlord shall not reallocate the Taxes attributable to the Building Office Space and Building Flex Space unless and until the Taxes assessed against the Building have been adjusted by the taxing authority based upon such conversion.
Examples of Tenants Tax Proportionate Share in a sentence
Tenant's Tax Proportionate Share: 4.909% based upon Building square footage of 162,272* 9.
Tax Adjustment Rent to be paid monthly in advance in an estimated amount as adjusted by Landlord from time to time to cover the Tenant's Tax Proportionate Share of the increase in any Comparison Year in Taxes for said Comparison Year over Base Taxes.
If at one or more times during such Year Landlord revises its estimate of Taxes for such Year, Landlord may notify Tenant of such revised estimate and of the increase or decrease in Tenant's Tax Proportionate Share thereafter payable during such Year necessary to cause the total monthly payments during such Year to equal Landlord's then current estimate of the Tenant's Tax Proportionate Share for such Year.
If any changes are made to this Lease or to the Property changing the number of Rentable Square Feet contained in the Leased Premises or significantly changing the number of Rentable Square Feet in the Property, Tenant's Operating Proportionate Share and Tenant's Tax Proportionate Share may be appropriately adjusted.
If Landlord's estimate of Taxes in any Year reflects an increase in the Taxes beyond the Base Taxes set forth in the Schedule, upon notice from Landlord, Tenant shall pay Landlord one-twelfth 12th) of Tenant's Tax Proportionate Share of such estimated increase in such Taxes for each month in such Year on the first day of each calendar month during the Year.