Common use of Ad Valorem Taxes and Assessments Clause in Contracts

Ad Valorem Taxes and Assessments. 4.3.1. Tenant shall pay as additional rent during the term of this Lease all ad valorem and real property taxes levied or assessed by any lawful authority against the Premises. In the event any governmental authority having jurisdiction shall levy any general or special assessment against the Premises, Tenant shall also pay to Landlord as additional rent such assessment. Landlord shall have the option to take the benefit of any statute or ordinance permitting any such assessment for public betterments or improvements to be paid over a period of time in which case the Tenant shall be obligated to pay only the said fraction of the installments of any such assessments which shall become due and payable during the term of this lease. 4.3.2. Landlord may, at its sole discretion, estimate the taxes and assessments referred to in this paragraph and require Tenant to pay one-twelfth (l/l2) thereof monthly in advance, together with the payment of fixed minimum annual rent. After the end of each Lease year, Landlord shall furnish Tenant a statement of the actual taxes and assessments, and there shall be an adjustment between Landlord and Tenant with payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount of Tenant’s proportionate share for such annual period.

Ad Valorem Taxes and Assessments. 4.3.1. Tenant shall pay as additional rent during the term of this Lease all ad valorem and real property taxes and all special assessments levied or assessed by any lawful authority against the Premises. In the event any governmental authority having jurisdiction shall levy any general or special assessment against the Premises, Tenant shall also pay to Landlord as additional rent such assessment. Landlord shall have the option to take the benefit of any statute or ordinance permitting any such assessment for public betterments or improvements to be paid over a period of time in which case the Tenant shall be obligated to pay only the said fraction of the installments of any such assessments which shall become due and payable during the term of this lease. 4.3.2. Landlord may, at its sole discretion, estimate the taxes and assessments referred to in this paragraph 4 and require Tenant to pay one-twelfth (l/l21/12th) thereof monthly in advance, together with the payment of fixed minimum annual rent. After the end of each Lease year, Landlord shall furnish Tenant a statement of the actual taxes and assessments, and there shall be an adjustment between Landlord and Tenant with payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount of Tenant’s proportionate share for such annual period.

Ad Valorem Taxes and Assessments. 4.3.1SAMPLE 5.3.1. Tenant shall pay as additional rent during the term of this Lease all ad valorem and real property taxes and all special assessments levied or assessed by any lawful authority against the Premises. In the event any governmental authority having jurisdiction shall levy any general or special assessment against the Premises, Tenant shall also pay to Landlord as additional rent such assessment. Landlord shall have the option to take the benefit of any statute or ordinance permitting any such assessment for public betterments or improvements to be paid over a period of time in which case the Tenant shall be obligated to pay only the said fraction of the installments of any such assessments which shall become due and payable during the term of this lease. 4.3.25.3.2. Landlord may, at its sole discretion, estimate the taxes and assessments referred to in this paragraph 5 and require Tenant to pay one-twelfth (l/l21/12th) thereof monthly in advance, together with the payment of fixed minimum annual rent. After the end of each Lease year, Landlord shall furnish Tenant a statement of the actual taxes and assessments, and there shall be an adjustment between Landlord and Tenant with payment to or repayment by Landlord, as the case may require, to the end that Landlord shall receive the entire amount of Tenant’s proportionate share for such annual period.