Tax Parcel Split Sample Clauses

Tax Parcel Split. If this sale involves a tax parcel split, the extent to which any such taxes and/or assessments are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official or based on an estimated split calculation using available assessment data. If the billing of any real estate taxes and/or assessments after Closing includes portions attributed to the Property and other real estate, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Tax Parcel Split. If the conveyance of the Property involves a tax parcel split, any applicable tax credit shall be allocated between the newly-created parcels based on parcel split information provided by the appropriate property tax official; provided, however, if such parcel split information is not provided by such tax official, any applicable tax credit shall be allocated proportionately between the newly-created parcels based solely on gross acres. If any Taxes are billed after Closing in a manner that does not reflect the parcel split, Buyer shall cooperate with the other owner(s) of land from the same parent parcel to facilitate the timely payment of such Taxes, to be allocated in the same manner as provided above with respect to the tax credit at Closing unless otherwise agreed.
Sample 1Sample 2
Tax Parcel Split. If the conveyance of the Property involves a tax parcel split, the Current Year Taxes shall be allocated between the newly-created parcels based on the parcel split information provided by the appropriate property tax official (or, if such information is not provided by the appropriate property tax official, then proportionately based on the total acres included with each respective newly-created parcel, without reference to the value of any improvements). If any Taxes are billed after Closing in a manner which does not reflect the parcel split, Buyer shall fully cooperate with the other owner(s) of land from the same parent parcel to facilitate the timely payment of such Taxes when due after Closing and Buyer agrees to pay the portion of such tax bill that is attributable to the Property based on the parcel split information provided by the appropriate property tax official (or, if such information is not provided by the appropriate property tax official, then based on a per-acre allocation as provided above). SELLER, AUCTION COMPANY AND CLOSING AGENT SHALL HAVE NO OBLIGATION WITH RESPECT TO ANY TAXES BILLED AFTER CLOSING.
Sample 1
Tax Parcel Split. Reference is made to the ATLA/ACSM Land Title Survey Boundary Survey prepared by Hxxxx & Associates, Inc. dated 101[sic]-03-2002 (the “Survey”). After giving effect to the Closing, Buyer shall be the owner of the real estate parcel located at 200 X. Xxxxxx Street, Tampa, Florida (i.e., the Tampa Tribune building parcel, denominated as “Not Included” in the Survey), and Seller shall continue to be the owner of the real estate parcel located at 200 X. Xxxxxx Street, Tampa, Florida (i.e., the WFLA-TV building parcel, denominated as “Parcel No. 2” in the Survey). These two adjacent legal parcels are currently part of a single tax parcel (Tax Parcel ID# 1944595-0000). After the Closing, each of Buyer and Seller shall cooperate in good faith to make the necessary filings with the appropriate Governmental Authorities and take other actions necessary to complete the split of the single tax parcel into two separate tax parcels as soon as practicable after the Closing, including a division of the taxes and assessments against the two parcels, and to diligently pursue the same. Buyer and Seller shall each be responsible for one-half of all costs incurred in establishing the parcels as separate tax parcels for tax and assessment purposes, including any application, filing, recordation and similar fees. Until the single tax parcel has been divided into two separate tax parcels by the relevant Governmental Authorities, the tax bxxx for the tax parcel for the current tax period, and possibly subsequent tax periods, may include both real estate parcels. Until such division is made, (i) Buyer shall be responsible for its percentage (based on the relative overall square footage of each parcel) of all real estate taxes that are assessed against the single tax parcel for any period (or portion thereof) including the Adjustment Time or thereafter; (ii) Seller shall promptly provide Buyer with a copy of any tax bxxx for which Buyer is responsible for any real estate taxes in accordance with the preceding sentence, (iii) Buyer shall promptly remit to the relevant Governmental Authority its full share of any real estate taxes no later than the due date shown on such bxxx; and (iv) each of Seller and Buyer shall be responsible for the timely payment to the relevant Governmental Authority of its respective portion of all taxes due and owing under such tax bxxx.
Sample 1
Tax Parcel Split. This Section applies if: (a) the conveyance of the Property involves a tax parcel split; and
Sample 1

Related to Tax Parcel Split

  • Tax Parcels Each Mortgaged Property constitutes one or more complete separate tax lots or is subject to an endorsement under the related Title Policy insuring same, or in certain instances an application has been made to the applicable governing authority for creation of separate tax lots, which shall be effective for the next tax year.

  • Access; Utilities; Separate Tax Parcels Based solely on evaluation of the Title Policy (as defined in paragraph 8) and survey, if any, an engineering report or property condition assessment as described in paragraph 12, applicable local law compliance materials as described in paragraph 26, the Sponsor Diligence (as defined in paragraph 42), and the ESA (as defined in paragraph 43), each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to such road, or has permanent access from a recorded easement or right of way permitting ingress and egress to/from a public road, (b) is served by or has access rights to public or private water and sewer (or well and septic) and other utilities necessary for the current use of the Mortgaged Property, all of which are adequate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been made or is required to be made to the applicable governing authority for creation of separate tax parcels (or the Mortgage Loan documents so require such application in the future), in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax parcels are created.

  • Premises Parking and Common Areas 2.1 Letting Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and upon all of the terms covenants and conditions set forth in this Lease. Unless otherwise provided herein, any statement of square footage set forth in this Lease, or that may have been used in calculating rental and/or Common Area Operating Expenses, is an approximation which Lessor and Lessee agree is reasonable and the rental and Lessee's Share (as defined in Paragraph 1.6(b)) based thereon is not subject to revision whether or not the actual square footage is more or less.

  • Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.

  • Common Area (Check one)

  • Building Renovations It is specifically understood and agreed that Landlord has made no representation or warranty to Tenant and has no obligation and has made no promises to alter, remodel, improve, renovate, repair or decorate the Premises, Building, or any part thereof and that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant except as specifically set forth herein or in the Work Letter Agreement. However, Tenant hereby acknowledges that Landlord is currently renovating or may during the Lease Term renovate, improve, alter, or modify (collectively, the "Renovations") the Project, the Building and/or the Premises including without limitation the parking structure, common areas, systems and equipment, roof, and structural portions of the same, which Renovations may include, without limitation, (i) installing sprinklers in the Building common areas and tenant spaces, (ii) modifying the common areas and tenant spaces to comply with applicable laws and regulations, including regulations relating to the physically disabled, seismic conditions, and building safety and security, and (iii) installing new floor covering, lighting, and wall coverings in the Building common areas, and in connection with any Renovations, Landlord may, among other things, erect scaffolding or other necessary structures in the Building, limit or eliminate access to portions of the Project, including portions of the common areas, or perform work in the Building, which work may create noise, dust or leave debris in the Building. Tenant hereby agrees that such Renovations and Landlord's actions in connection with such Renovations shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Rent. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant's business arising from the Renovations, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises or of Tenant's personal property or improvements resulting from the Renovations or Landlord's actions in connection with such Renovations, or for any inconvenience or annoyance occasioned by such Renovations or Landlord's actions.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Tax Year The Partnership’s tax year will end on , 20 .

  • 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.

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