Examples of Incremental property taxes in a sentence
As soon as practicable after January 1 of each year, Landlord shall furnish Tenant with a statement from the taxing authorities setting forth in reasonable detail, the Property Taxes and a statement setting forth Incremental Property Taxes for the preceding calendar year, and a reconciliation of any overpayment and/or underpayment of same by Tenant.
At the election of Landlord, Tenant shall pay one-twelfth (1/12) of Tenant's Share of the estimated Incremental Property Taxes for the then current calendar year.
If the total amount paid by Tenant in any calendar year for such estimated Incremental Property Taxes exceeds the amount attributable to Tenant for that year, Landlord shall, within thirty (30) days of delivery of the aforementioned statements to Tenant, either refund to Tenant the amount of such excess, or adjust current year estimates for such overpayment.
Notwithstanding anything to the contrary contained in this Lease, Tenant shall pay to Landlord, upon demand, as additional Rent, the amount by which the Property Taxes applicable to the Leased Premises during each calendar year exceeds the Property Taxes applicable to the Leased Premises incurred by Landlord for the calendar year 1993 ("Incremental Property Taxes").