Common use of Additional Property Tax Clause in Contracts

Additional Property Tax. 5.25.1 The Tenant must pay to the Landlord immediately on demand, any additional property tax (‘Additional Property Tax’). The Additional Property Tax shall be the property tax payable for or apportioned as attributable to the Premises (in respect of each month of the Rent Free Period (if any) and the Term) arising from an increase in the annual value of or attributable to the Premises or an increase in the rate of property tax of or attributable to the Premises over and above the annual value and the rate of property tax prevailing on the Commencement Date. If the Tenant fails to comply with this Clause 5.25, the Additional Property Tax together with Interest accruing from the date of the Landlord’s demand until the date of payment will be recoverable from the Tenant as if it were rent in arrears. 5.25.2 The liability of the Tenant to pay the Additional Property Tax will not be affected by the expiry or sooner determination of the Term. 5.25.3 Objection to or appeals in respect of any assessment of annual value or imposition of property tax on the Premises may only be made by the Landlord at its sole discretion.