Estate Taxes Sample Clauses

Estate Taxes. As part of the consideration for this Lease and in addition to the rent hereinbefore provided, Lessee shall pay its pro-rata share as defined in Section 1, Paragraph F, of all taxes and assessments, both general and special, levies and governmental impositions and charges of every kind and nature whatsoever, extraordinary as well as ordinary ("Taxes"), assessed, imposed or ---------------- Ronaxx X. Xxxx levied upon the Building Site during the term of this Lease and any extension or renewal thereof, prorated on a daily basis for any partial year. Such payment shall be made by Lessee by delivering to Lessor, contemporaneously with the monthly installments of rent payable by Lessee, an amount equal to one-twelfth of the Taxes. If the Taxes for the then current year have been fixed. Lessee shall pay Lessor monthly installments equal to one-twelfth of the amount thereof contemporaneously with the monthly installment of rent payable hereunder, and if such Taxes have not been fixed, then Lessee shall pay to Lessor an estimated tax amount determined by Lessor in monthly installments equal to one-twelfth of the estimated tax amount. If, upon the determination of the amount of the Taxes, the total amount of funds deposited by Lessee hereunder are not sufficient to pay the Taxes then due, then Lessee agrees to remit to Lessor an amount equal to the shortage promptly upon receipt of a statement therefor from the Lessor. In the event Lessee has deposited funds with Lessor for the payment of the Taxes for such year in excess of the amount required to pay the Taxes for such year, then the overage shall be credited to the next month's deposit to be made by Lessee for Taxes hereunder.
Sample 1Sample 2
AutoNDA by SimpleDocs
Estate Taxes. The term “Estate taxes” means all estate, inheritance, transfer, succession, legacy, death, and other similar taxes, including any interest or penalties on these taxes, that may be imposed by reason of a Settlor’s death. “Estate taxes” excludes any income tax, generation-skipping transfer tax, excise tax, and other similar taxes.
Sample 1
Estate Taxes. Seller shall file the United States Estate (and Generation-Skipping Transfer) Tax Return (Form 706)with the Internal Revenue Service and the New York State Estate Tax Return (Form ET-706) with the New York State Department of Taxation and Finance (the “Estate Tax Returns”) and pay all taxes reflected in the Estate Tax Returns within the time required by law. Seller shall use its commercially reasonable efforts to obtain from the Internal Revenue Service a discharge of the Federal Lien arising under Section 6324(a) of the Internal Revenue Code as promptly as possible.
Sample 1
Estate Taxes. As of the Closing, all estate taxes due to any Governmental Entity as a result of the death of Xxxxx Xxxxxxx have been paid by the Trustee, or will be paid by the Trustee through use of the Special Deposit, or the Trust and such Governmental Entities have entered into agreements to pay such taxes. Upon execution of this Agreement, Trustee will request a certification of Lien Release from the Internal Revenue Service pursuant to Internal Revenue Code Section 6325 to discharge the general federal estate tax lien with respect to the Stock.
Sample 1
Estate Taxes. (a) In the event that:
Sample 1
Estate Taxes. In the event the last lease year is not a calendar year, TENANT’S proportionate share of such REAL ESTATE TAXES shall be prorated.
Sample 1
Estate Taxes. Owner must donate conservation easement on his property in his lifetime or in a legal will. " No limits on estate tax donation. " Can significantly reduce the tax burden to heirs and protect family lands. " Federal law requires inherited property to be valued at “highest and best use” instead of actual use. A conservation easement that places restrictions on this lowers the property value and estate taxes.
Sample 1
AutoNDA by SimpleDocs
Estate Taxes. Any refunds of Real Estate Taxes made after the Closing shall be held in trust and shall first be applied to reasonable unreimbursed third-party costs incurred in obtaining the refund, then prorated and paid to (x) the Sellers (for the period ending prior to the Closing Date), if such Real Estate Taxes were paid by MMI or any Subsidiary with respect to any Real Property that is not mortgaged or leased by any Borrower or Tenant that is the subject of any Bankruptcy Proceeding as of the Closing Date, (y) subject to the terms of the applicable Lease Documents and Loan Documents, the applicable Tenant or Borrower that leases or owns the applicable Real Property, if such Real Estate Taxes were paid by such Tenant or such Borrower and (z) in all other instances, the Purchaser. (iv)
Sample 1

Related to Estate Taxes

  • Real Estate Taxes All taxes and installments for special assessments will be prorated for the calendar year based on taxes levied. If taxes have not been levied, then they will be prorated based upon taxes for the previous year, adjusted for the most recent mill levy, if known.

  • Property Taxes Landlord shall pay, prior to delinquency, all general real estate taxes and installments of special assessments coming due during the Lease term on the Leased Premises, and all personal property taxes with respect to Landlord's personal property, if any, on the Leased Premises. Tenant shall be responsible for paying all personal property taxes with respect to Tenant's personal property at the Leased Premises.

  • Real Estate Taxes and Assessments Xxxxx is aware that all property is subject to the possibility of reassessment which may result in increased real estate taxes.

  • Real Property Taxes Taxes, assessments and charges now or hereafter levied or assessed upon, or with respect to, the Project, or any personal property of Landlord used in the operation thereof or located therein, or Landlord's interest in the Project or such personal property, by any federal, state or local entity, including: (i) all real property taxes and general and special assessments; (ii) charges, fees or assessments for transit, housing, day care, open space, art, police, fire or other governmental services or benefits to the Project, including assessments, taxes, fees, levies and charges imposed by governmental agencies for such purposes as street, sidewalk, road, utility construction and maintenance, refuse removal and for other governmental services; (iii) service payments in lieu of taxes; (iv) any tax, fee or excise on the use or occupancy of any part of the Project, or on rent for space in the Project; (v) any other tax, fee or excise, however described, that may be levied or assessed as a substitute for, or as an addition to, in whole or in part, any other Real Property Taxes; and (vi) reasonable consultants' and attorneys' fees and expenses incurred in connection with proceedings to contest, determine or reduce Real Property Taxes. Real Property Taxes do not include: (A) franchise, transfer, inheritance or capital stock taxes, or income taxes measured by the net income of Landlord from all sources, unless any such taxes are levied or assessed against Landlord as a substitute for, in whole or in part, any Real Property Tax; (B) Impositions and all similar amounts payable by tenants of the Project under their leases; and (C) penalties, fines, interest or charges due for late payment of Real Property Taxes by Landlord. If any Real Property Taxes are payable, or may at the option of the taxpayer be paid, in installments, such Real Property Taxes shall, together with any interest that would otherwise be payable with such installment, be deemed to have been paid in installments, amortized over the maximum time period allowed by applicable law. If the tax statement from a taxing authority does not allocate Real Property Taxes to the Building, Landlord shall make the determination of the proper allocation of such Real Property Taxes based, to the extent possible, upon records of the taxing authority and, if not so available, then on an equitable basis. Real Property Taxes also do not include any increases in the taxes, assessments, charges, excises and levies assessed against the Project due solely to the construction or installation of tenant improvements or other alterations by tenants of the Project other than Tenant and any other tenants or occupants of the Building; provided, however, that if any Real Property Taxes are imposed or increased due to the construction or installation of tenant improvements or other alterations in the Building, such Real Property Taxes shall be equitably prorated in Landlord's reasonable judgment between Tenant and any other tenants of the Building.

  • Tax Expenses Tenant shall pay to Landlord Tenant’s Share of all Tax Expenses applicable to the Project. Prior to delinquency, Tenant shall pay any and all taxes and assessments levied upon Tenant’s Property (defined below in Section 10) located or installed in or about the Premises by, or on behalf of Tenant. To the extent any such taxes or assessments are not separately assessed or billed to Tenant, then Tenant shall pay the amount thereof as invoiced by Landlord. Tenant shall also reimburse and pay Landlord, as Additional Rent, within ten (10) days after demand therefor, one hundred percent (100%) of (i) any increase in real property taxes attributable to any and all Alterations (defined below in Section 10), Tenant Improvements, fixtures, equipment or other improvements of any kind whatsoever placed in, on or about the Premises for the benefit of, at the request of, or by Tenant, and (ii) taxes and assessments levied or assessed upon or with respect to the possession, operation, use or occupancy by Tenant of the Premises or any other portion of the Project. “Tax Expenses” means, without limitation, any form of tax and assessment (general, special, supplemental, ordinary or extraordinary), commercial rental tax, payments under any improvement bond or bonds, license fees, license tax, business license fee, rental tax, transaction tax or levy imposed by any authority having the direct or indirect power of tax (including any governmental, school, agricultural, lighting or other improvement district) as against any legal or equitable interest of Landlord in the Premises, Project or Park or any other tax, fee, or excise, however described, including, but not limited to, any tax resulting from the recordation of any parcel or subdivision map with respect to the Park and/or any tax imposed in substitution (partially or totally) of any tax previously included within the definition of Tax Expenses. “Tax Expenses” shall not include (a) any franchise, estate, inheritance, net income, or excess profits tax imposed upon Landlord, (b) any penalty or fee imposed solely as a result of Landlord’s failure to pay Tax Expenses when due, and (c) any items included as Operating Expenses. In the event that a parcel or subdivision map with respect to the Park or a portion of the Park is recorded by Landlord, Tenant’s Share of Tax Expenses shall be commensurately revised to reflect any increases or decreases that may result from the impact of such parcel or subdivision map.

  • Operating Expenses and Taxes Lessee and Lessor acknowledge and agree that commencing with the Second Extended Lease Term and continuing with any Extended Lease Term validly exercised thereafter, (x) the Lease provisions relating to payment of Taxes and Operating Expenses shall be converted from a Base Year computation to a straight net basis computation, and (y) Lessee shall be assuming the obligation of maintenance and repair described in Paragraph 11 below. In connection with the conversion from a Base Year to a net lease and Lessee’s assumption of the maintenance and repair obligations described in Paragraph 11 below, Lessee and Lessor wish to modify the terms and provisions of the Lease relating to Operating Expenses to account for such modifications and Lessee’s assumption of such obligations. In connection with the foregoing, Lessee and Lessor hereby acknowledge and agree that commencing on January 1, 2013, (i) the MOU shall have no further force or effect with respect to all periods from and after January 1, 2013 (the MOU shall remain in effect with respect to periods on or before December 31, 2012, except as modified by Xxxxxxxxxx 00 xxx 00 xxxxx), (xx) notwithstanding anything to the contrary contained in the Lease, Lessee’s obligations with respect to the payment of Lessee’s Percentage of Taxes and Lessee’s Percentage of Operating Expenses shall be computed without reference to a Base Year, with the effect that Lessee’s obligation for payment of Taxes during any Tax Year shall be payment of Lessee’s Percentage of the Taxes incurred with respect to such Tax Year and Lessee’s obligation for payment of Operating Expenses during any Lease Year for Operating Expenses shall be payment of Lessee’s Percentage of the Operating Expenses incurred with respect to such Lease Year for Operating Expenses, and (iii) Article 5 of the Original Lease shall be deleted in its entirety with respect to all periods from and after January 1, 2013 and replaced with the provisions of this Paragraph 10.

  • Personal Property Taxes (a) Lessee shall pay prior to delinquency all taxes assessed against and levied upon trade fixtures, furnishings, equipment and all other personal property of Lessee contained in the Premises or elsewhere. When possible, Lessee shall cause said trade fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Lessor.

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

Time is Money Join Law Insider Premium to draft better contracts faster.