Common use of Impositions Clause in Contracts

Impositions. In addition to the Rent and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for all of the following items (collectively, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the Impositions, the monthly Rent payable to Landlord shall be revised to provide Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositions.

Appears in 3 contracts

Sources: Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp)

Impositions. In addition to the Rent and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for pay, as hereinafter provided, all of the following items (collectively, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect by any Governmental Authority that are applicable to the Building Premises or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are operation thereof: (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the PremisesTaxes, (b) based on water, water meter and sewer rents, rates and charges, (c) excises, (d) levies, (e) license and permit fees; (f) service charges with respect to police protection, fire protection, street and highway construction, maintenance and lighting, sanitation and water supply, if any, (g) fines, penalties and other similar or like governmental charges applicable to the developmentforegoing and any interest or costs with respect thereto, possessionand (h) any and all other governmental levies, leasingfees, operationrents, managementproffers, maintenanceassessments or taxes and charges, alterationgeneral and special, repairordinary and extraordinary, useforeseen and unforeseen, of any kind and nature whatsoever, and any interest or costs with respect thereto, which at any time during the Term are (1) assessed, levied, confirmed, imposed upon or would have become due and payable out of or in respect of, or occupancy by Tenant of would have been charged with respect to, the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises, or the use and occupancy thereof by Tenant or (2) encumbrances or liens on (i) the Premises, or (ii) any appurtenances of the Premises, or (iii) any personal property (except personal property which is not owned by or leased to Tenant), Fixtures or other facility used in the operation thereof, or (vi) any amounts due to Landlord under this Lease, including Base Rent and Additional Costs (or any portion of either) payable by Tenant hereunder, each such Imposition, or installment thereof, during the Term to be paid not later than the Due Date thereof. If it is unlawful for However, if, by law, any Imposition may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Tenant may exercise the option to reimburse Landlord pay the same in such installments and shall be responsible for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of such installments only, together with applicable interest, if any, relating to periods for which such installment is due, provided however, that Tenant shall have notified Landlord of its election to pay in installments prior to the Impositions, the monthly Rent payable to Landlord shall be revised to provide Landlord the same net return without reimbursement Due Date of the Impositions as would have been received by Landlord with reimbursement of the Impositionssuch Imposition.

Appears in 3 contracts

Sources: Ground Lease, Ground Lease, Ground Lease

Impositions. In addition Subject to Section 15 relating to permitted contests, Tenant during the Rent Lease Term (i) will pay when due (or such earlier date as may be required by the installment payment provisions below in this Section 12) and prior to delinquency all Real Property Taxes levied or assessed against the Leased Premises; and (ii) will pay all other charges Impositions; both subsections (i) and (ii), before any interest, penalty, fine or cost may be added for non-payment, and will furnish to be paid Landlord for inspection within thirty (30) days after such payment, receipts of the appropriate taxing authority or other proof satisfactory to Landlord evidencing payment of such other Impositions. Tenant will protect, indemnify and hold Landlord harmless from and against all liabilities, obligations, claims, damages, penalties, causes of action and Costs and Expenses imposed upon or incurred by or asserted against Landlord or the Leased Premises by reason of Tenant's failure to pay all Impositions as required herein. If Real Property Taxes or any other Impositions are payable in installments, Tenant under this Leasemay, at its election, make payment thereof in installments which are due and payable during the Lease Term; provided, however, Tenant shall pay Landlord for all Real Property Taxes in quarterly installments during each tax year; provided further, however, that Tenant shall not be required to make such quarterly payments of Real Property Taxes if it obtains a minimum credit rating of at least BBB- (minimum investment grade rating). To the following items (collectively, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective extent Tenant is required to make quarterly payments of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect Real Property Taxes pursuant to the Building or preceding sentence, Tenant shall make such payments directly to the Park Place Project; (iv) service charges imposed relevant governmental authority if permitted by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental such authority; provided, however, that if the relevant taxing authority does not accept quarterly payments, Tenant shall make such payments into an interest bearing escrow account, with the escrow agent being directed to make such payments to the relevant taxing authority when directed by either Tenant or Landlord. Any Impositions relating to a fiscal period, part of which is within and part of which is subsequent to the Lease Term, whether or not such Impositions shall not include amounts otherwise included in Common Area Operating Costs become due and payable or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay a lien upon the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Leased Premises or any part thereof, or be assessed, levied, confirmed or imposed during the Lease Term, shall be adjusted and apportioned between Tenant and Landlord so that Tenant shall pay only that portion of such Impositions computed by multiplying the Premises; or (c) imposed on this transaction or based on any document total amount of such Impositions relating to the fiscal period by a fraction, the numerator of which Tenant is a party creating or transferring an interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord for number of days constituting the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment remainder of the Impositions, Lease Term and the monthly Rent payable denominator of which is the number of days constituting the entire fiscal period. The amount due from either party to Landlord the other based upon the adjustment and apportionment of such Impositions shall be revised to provide Landlord the same net return without reimbursement paid at or promptly following expiration or termination of the Impositions as would have been received by Landlord with reimbursement of the ImpositionsLease Term.

Appears in 2 contracts

Sources: Lease (Speedfam Ipec Inc), Lease Agreement (Novellus Systems Inc)

Impositions. In addition to the Rent and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for pay, as hereinafter provided, all of the following following‌ items (collectively, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect by any Governmental Authority that are applicable to the Building Premises or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are operation thereof: (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the PremisesTaxes, (b) based on water, water meter and sewer rents, rates and charges, (c) excises, (d) levies, (e) license and permit fees; (f) service charges with respect to police protection, fire protection, street and highway construction, maintenance and lighting, sanitation and water supply, if any, (g) fines, penalties and other similar or like governmental charges applicable to the developmentforegoing and any interest or costs with respect thereto, possessionand (h) any and all other governmental levies, leasingfees, operationrents, managementproffers, maintenanceassessments or taxes and charges, alterationgeneral and special, repairordinary and extraordinary, useforeseen and unforeseen, of any kind and nature whatsoever, and any interest or costs with respect thereto, which at any time during the Term are (1) assessed, levied, confirmed, imposed upon or would have become due and payable out of or in respect of, or occupancy by Tenant of would have been charged with respect to, the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises, or the use and occupancy thereof by Tenant and (2) encumbrances or liens on (i) the Premises, or (ii) any appurtenances of the Premises, or (iii) any personal property (except personal property which is not owned by or leased to Tenant), Fixtures or other facility used in the operation thereof, or (vi) any amounts due to Landlord under this Lease, including Base Rent and Additional Costs (or any portion of either) payable by Tenant hereunder, each such Imposition, or installment thereof, during the Term to be paid not later than the Due Date thereof. If it is unlawful for However, if, by law, any Imposition may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Tenant may exercise the option to reimburse Landlord pay the same in such installments (subject to the limitation on Tenant’s obligations set forth in Section 4.04 below) and shall be responsible for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the Impositionssuch installments only, the monthly Rent payable together with applicable interest, if any, relating to Landlord shall be revised to provide Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositionsperiods for which such installment is due.

Appears in 2 contracts

Sources: Deed of Lease, Comprehensive Agreement

Impositions. In addition to the Rent All general and special taxes, including existing and future assessments for road, sewer, utility, business improvement or management districts and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for all of the following items (collectively, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including without limitation, all assessments for public local improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspectionand license and permit fees, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Project; (iv) service governmental and quasi-governmental charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are leviedkind and nature whatsoever, which may be charged, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises upon all or any portion of the Premises; Property, as well as Landlord’s reasonable out of pocket costs incurred in connection with seeking a reduction of the same, provided that Tenant has first approved such action, such approval not to be unreasonably withheld, conditioned or (c) imposed on this transaction delayed, and Landlord keeps Tenant informed during such action and Landlord agrees not to settle such action with respect to any Impositions allocable to the Term, without Tenant’s approval, such approval not to be unreasonably withheld, conditioned or based on delayed. If there is any document to which Tenant is a party creating or transferring an interest or an estate change in the Premisessystem(s) of taxation which is in substitution of or in addition to the present system(s), such substitution and/or additional systems shall also be included in “Impositions”. If it is unlawful for Tenant to reimburse Landlord for the ImpositionsImpositions shall not include any federal, but lawful to increase the monthly Rent to take into account state or local income, franchise, gift, capital levy, transfer, excess profits, estate, inheritance or succession taxes. Impositions shall be reduced by actual tax abatements or other similar reductions, less Landlord’s payment reasonable out of the Impositions, the monthly Rent payable to Landlord pocket costs incurred in connection therewith as aforesaid. Nothing herein shall be revised deemed to provide obligate Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the to seek a reduction in Impositions. CONFIDENTIAL TREATMENT REQUESTED UNDER C.F.R. SECTIONS 200.80(b)(4), 200.83 AND 230.406. [****] INDICATES OMITTED MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.

Appears in 2 contracts

Sources: Lease Agreement (Raindance Technologies Inc), Lease Agreement (Raindance Technologies Inc)

Impositions. In addition A. Tenant covenants and agrees to pay during the term of this Lease, as Additional Rent, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, all impositions described herein that accrue on or after the Commencement Date, which include without limitation, all real estate taxes, special assessments, water rates and charges, sewer rates and charges, including any sum or sums payable for future sewer or water capacity increases, charges for public utilities, street lighting, excise levies, licenses, permits, inspection fees, other governmental charges, and all other charges or burdens of whatsoever kind and nature (including costs, fees, and expenses of complying with any restrictive covenants or similar agreements to which the Demised Premises are subject), incurred in the use, occupancy, ownership, operation, leasing or possession of the Demised Premises, without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen (all of which are sometimes herein referred to as Impositions"), which at any time during the term may have been or may be assessed, levied, confirmed, imposed upon, or become a lien on the Demised Premises, or any portion thereof, or any appurtenance thereto, rents or income therefrom, and such easements or rights as may now or hereafter be appurtenant or appertain to the use of the Demised Premises. B. If, at any time during the term of this Lease, any method of taxation shall be such that there shall be levied, assessed or imposed on Landlord, or on the Basic Rent or Additional Rent, or on the Demised Premises or on the value of the Demised Premises, or any portion thereof, a capital levy, sales or use tax, gross receipts tax or other tax on the rents received therefrom, or a franchise tax, or an assessment, levy or charge measured by or based in whole or in part upon such rents or value, Tenant covenants to pay and other charges discharge the same, it being the intention of the parties hereto that the rent to be paid hereunder shall be paid to Landlord absolutely net without deduction or charge of any nature whatsoever foreseeable or unforeseeable, ordinary or extraordinary, or of any nature, kind or description, except as in this Lease otherwise expressly provided. Nothing in this Lease contained shall require Tenant to pay any municipal, state or federal net income or excess profits taxes assessed against Landlord, or any municipal, state or federal capital levy, estate succession, inheritance or transfer taxes of Landlord, or corporation franchise taxes imposed upon any corporate owner of the fee of the Demised Premises. C. Tenant covenants to furnish Landlord, within 30 days after the date upon which any Imposition or other tax assessment, levy or charge is payable by Tenant, official receipts of the appropriate taxing authority, or other appropriate proof satisfactory to Landlord, evidencing the payment of the same. The certificate, advice or ▇▇▇▇ of the appropriate official designated by law to make or issue the same or to receive payment of any Imposition or other tax, assessment, levy or charge may be relied upon by Landlord as sufficient evidence that such Imposition or other tax, assessment, levy or charge is due and unpaid at the time of the making or issuance of such certificate, advice or ▇▇▇▇, unless Tenant provides Landlord with evidence to the contrary. D. At Landlord's written demand after any Event of Default (as defined in Section 20 hereinafter) and for as long as such Event of Default is uncured, or upon the request of any Mortgagee of the Demised Premises, (but only after an Event of Default and for as long as such Event of Default is uncured) Tenant shall pay to Landlord the known or estimated yearly real estate taxes and assessments payable with respect to the Demised Premises in monthly payments equal to one-twelfth of the known or estimated yearly real estate taxes and assessments next payable with respect to the Demised Premises. From time to time Landlord may re-estimate the amount of real estate taxes and assessments, and in such event Landlord shall notify Tenant, in writing, of such re-estimate and fix future monthly installments for the remaining period prior to the next tax and assessment due date in an amount sufficient to pay the re-estimated amount over the balance of such period after giving credit for payments made by Tenant on the previous estimate. If the total monthly payments made by Tenant pursuant to this Paragraph 16D shall exceed the amount of payments necessary for said taxes and assessments, such excess shall be credited on subsequent monthly payments of the same nature; but if the total of such monthly payments so made under this paragraph shall be insufficient to pay such taxes and assessments when due, then Tenant shall pay to Landlord such amount as may be necessary to make up the deficiency. E. Tenant shall have the right at its own expense to contest the amount or validity, in whole or in part, of any Imposition by appropriate proceedings diligently conducted in good faith, but only after Tenant provides Landlord or the Mortgagee reasonable security, or Tenant makes payment of such Imposition, unless such payment, or a payment thereof under protest, would operate as a bar to such contest or interfere materially with the prosecution thereof, in which event, notwithstanding the provisions of Paragraph 16A hereof Tenant may postpone or defer payment of such Imposition if neither the Demised Premises nor any portion thereof would, by reason of such postponement or deferment, be in danger of being forfeited or lost, and (b) Tenant is not then in Material Breach of this Lease. Upon the termination of any such proceedings, Tenant shall pay Landlord for all the amount of such Imposition or part thereof, if any, as finally determined in such proceedings, the following items (collectivelypayment of which may have been deferred during the prosecution of such proceedings, “Impositions”): (i) assessments or levies on the Building or Park Place Projecttogether with any costs, fees, including without limitationattorney's fees, all assessments for public improvementsinterest, servicespenalties, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspectionfines and other liability in connection therewith, and other authorization fees imposed on upon such payment Landlord shall return all amounts or certificates deposited with it with respect to the Building contest of such Imposition, as aforesaid, or, at the written direction of Tenant, Landlord shall make such payment out of the funds on deposit with Landlord and the balance, if any, shall be returned to Tenant. Tenant shall be entitled to the refund of any Imposition, penalty, fine and interest thereon received by Landlord which have been paid by Tenant or the Park Place Project; (iv) service charges imposed which have been paid by governmental authorities Landlord but for which Landlord has been previously reimbursed in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed full by a governmental authority; provided, however, that Impositions Tenant. Landlord shall not include amounts otherwise included be required to join in Common Area Operating Costs any proceedings referred to in this Paragraph 16E unless the provisions of any law, rule or Building Operating Costs regulation at the time in effect shall require that such proceedings be brought by or Real Property Taxesin the name of Landlord, in which event Landlord shall join in such proceedings or permit the same ________ brought in Landlord's name upon compliance with such conditions as Landlord may reasonably require. Landlord shall not ultimately be subject to any liability for the payment of any fees, including attorney's fees, costs and expenses in connection with such proceedings. Tenant is obligated agrees to pay the Impositions only all such fees (including reasonable attorney's fees), costs and expenses or, on demand, to the extent that the Impositions are (a) based on, measured by, or commercially reasonable make reimbursement to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the PremisesLandlord for such payment. If it Landlord is unlawful for Tenant to reimburse Landlord provided a certificate of deposit or other interest bearing instrument as security for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the contested Imposition, during the time when any such certificate of deposit or other interest bearing instrument is on deposit with Landlord, and prior to the time when the same is returned to Tenant or applied against the payment, removal or discharge of Impositions, the monthly Rent payable to Landlord as above provided, Tenant shall be revised entitled to provide Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositionsreceive all interest paid thereon, if any. Cash deposits shall not bear interest.

Appears in 1 contract

Sources: Sublease Agreement (R2 Technology Inc)

Impositions. In addition to 5.01 During the Rent and other charges to be paid by Tenant under term of this Lease, Tenant shall pay Landlord covenants and agrees to pay, as rent in addition to all other rent payable hereunder, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof and ten (10) days prior to delinquency, all taxes, sewer taxes, excises, license and permit fees, assessments, water rates and charges and other governmental charges, general and special, ordinary and extraordinary, unforeseen, as well as foreseen, of any kind and nature whatsoever, including but not limited to any tax based upon a reassessment of the following items (collectivelyPremises and assessments for public improvements or benefits, “Impositions”): which prior to or during the term of this Lease are assessed or imposed upon or become due and payable and a lien upon: (i) assessments the Leased Premises or levies on any part thereof or any personal property, equipment or other facility used in the Building operation thereof; or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building rent or Park Place Projectincome received from subtenants or licensees; or (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, use or occupancy by Tenant of the Premises or any portion of the Leased Premises; or (civ) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an estate or interest in the Leased Premises (all of which taxes, assessments and other governmental charges are hereinafter referred to as "Impositions"); provided, however, that if, by law, any such Imposition is payable, or may at the option of the taxpayer be paid, in installments, Tenant may pay the same together with any accrued interest on the unpaid balance of such Imposition in installments as the same respectively become due and before any fine, penalty, interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord cost may be added thereto for the Impositionsnonpayment of any such installment and interest; and provided, but lawful further, that any Imposition relating to increase the monthly Rent to take into account Landlord’s payment a fiscal period of the Impositionstaxing authority a part of which period is included within the term of this Lease, the monthly Rent payable to shall be prorated as between Landlord and Tenant so that Landlord shall be revised pay the portion of Impositions attributable to provide Landlord any period subsequent to the same net return without reimbursement termination of the Impositions as would have been term of this Lease, and Tenant shall pay the portion thereof attributable to any period during the term of this Lease. 5.02 If at any time during the term of this Lease there shall be assessed or imposed (i) a tax or assessment on the rents received by Landlord or by Tenant in connection with reimbursement the Leased Premises, or (ii) a tax or assessment (including but not limited to any municipal, state or federal levy) measured by or based in whole or in part upon the value of the Leased Premises and imposed upon Landlord, or (iii) a license fee, tax or assessment measured by the rent payable under this Lease, then all such taxes, assessments or fees shall be deemed to be included within the term "Impositions" as defined in Section 5.01 hereof, and Tenant shall pay and discharge the same as herein provided in respect of the payment of Impositions, it being the intention of the parties hereto that the rent to be paid hereunder shall be paid to Landlord absolutely net without deduction of any nature whatsoever, foreseeable or unforeseeable. The payment to be made by Tenant pursuant to this Section shall be made before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, and ten days prior to delinquency. Each such tax, assessment, levy, imposition or charge shall be deemed to be an item of additional rent hereunder. Federal or state income tax payable by Landlord by reason of the receipt of rents as in this Lease provided shall not be deemed to be included within the term "Impositions" as defined in Section 5.01 hereof.

Appears in 1 contract

Sources: Lease Agreement (Foodbrands America Inc)

Impositions. In addition A. Tenant covenants and agrees to pay during the Rent and other charges to be paid by Tenant under term of this Lease, Tenant shall pay Landlord as Additional Rent, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, all of impositions described herein that accrue on or after the following items (collectivelyCommencement Date, “Impositions”): (i) assessments or levies on the Building or Park Place Project, including which include without limitation, all assessments real estate taxes, special assessments, water rates and charges, sewer rates and charges, including any sum or sums payable for future sewer or water capacity increases, charges for public improvementsutilities, servicesstreet lighting, or benefitsexcise levies, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) licenselicenses, permitpermits, inspectioninspection fees, other governmental charges, and all other authorization fees imposed on Landlord charges or burdens of whatsoever kind and nature (including costs, fees, and expenses of complying with respect any restrictive covenants or similar agreements to which the Building Demised Premises are subject), incurred in the use, occupancy, ownership, operation, leasing or possession of the Park Place Project; Demised Premises, without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen (iv) service charges imposed by governmental authorities in lieu all of taxes and; (x) which are sometimes herein referred to as "Impositions"), which at any other fees time during the term may have been or charges that are may be assessed, levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured byupon, or commercially reasonable to attribute to, become a lien on the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Demised Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion thereof, or any appurtenance thereto, rents or income therefrom, and such easements or rights as may now or hereafter be appurtenant or appertain to the use of the Demised Premises; . B. If, at any time during the term of this Lease, any method of taxation shall be such that there shall be levied, assessed or (c) imposed on this transaction Landlord, or on the Basic Rent or Additional Rent, or on the Demised Premises or on the value of the Demised Premises, or any portion thereof, a capital levy, sales or use tax, gross receipts tax or other tax on the rents received therefrom, or a franchise tax, or an assessment, levy or charge measured by or based on in whole or in part upon such rents or value, Tenant covenants to pay and discharge the same, it being the intention of the parties hereto that the rent to be paid hereunder shall be paid to Landlord absolutely net without deduction or charge of any document to which Tenant is a party creating nature whatsoever foreseeable or transferring an interest unforeseeable, ordinary or an estate extraordinary, or of any nature, kind or description, except as in the Premisesthis Lease otherwise expressly provided. If it is unlawful for Nothing in this Lease contained shall require Tenant to reimburse Landlord for the Impositionspay any municipal, but lawful to increase the monthly Rent to take into account state or federal net income or excess profits taxes assessed against Landlord’s payment , or any municipal, state or federal capital levy, estate succession, inheritance or transfer taxes of Landlord, or corporation franchise taxes imposed upon any corporate owner of the Impositions, the monthly Rent payable to Landlord shall be revised to provide Landlord the same net return without reimbursement fee of the Impositions as would have been received Demised Premises. C. Tenant covenants to furnish Landlord, within 30 days after the date upon which any Imposition or other tax, assessment, levy or charge is payable by Landlord with reimbursement of the Impositions.Tenant, official receipts of

Appears in 1 contract

Sources: Sublease Agreement (Software Net Corp)

Impositions. In addition Landlord represents to Tenant that the Rent Premises are assessed separately from any other real property, as a separate tax lot. Commencing on the applicable Commencement Date for the portions of the Premises, and other charges to be paid by Tenant under this Leasecontinuing on the first day of each calendar month thereafter, Tenant shall pay Landlord pay, as Additional Rent, (said Additional Rent is hereinafter referred to as the “Tax Rent”) the then applicable Tenant’s Share of all real estate taxes assessed upon the Premises. Real Estate Taxes shall include any tax or assessment levied, assessed or imposed anytime by any governmental authority upon or against the Property (including the land and Building) or any part thereof from and after the Commencement Date. Such terms shall also include any assessment for all public improvement imposed against the Property during the term of the following items (collectivelyLease and from and after the Commencement Date. There shall not be included in the foregoing definition any franchise, “Impositions”): (i) assessments corporate, estate, inheritance or levies on the Building or Park Place Project, including without limitation, all assessments for public improvements, servicestransfer tax of Landlord, or benefitsany income, irrespective of when commenced profits or completed; (ii) business revenue tax or other taxes on and impositions upon the Building Premises or Park Place Project; (iii) license, permit, inspection, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authorityLandlord; provided, however, that Impositions if at any time during the term of this Lease a tax on rents is assessed by the State of New Jersey or political subdivision on land or buildings, such tax shall not include amounts otherwise be deemed to be included in Common Area Operating Costs or Building Operating Costs or Real Property Taxeswithin the amount which the Tenant is required to pay under this Article. Tenant is obligated shall also pay to pay Landlord one hundred percent (100%) of all Taxes imposed upon the Impositions only Property as a result of any improvements made in or to the extent that Premises by Tenant. Landlord or Tenant shall each have the Impositions are (a) based onright, measured bybut not the obligation, to contest or commercially reasonable to attribute to, the cost appeal any Taxes or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based assessments levied on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion thereof. Each party shall notify the other prior to instituting any such contest, and the other party shall have the right to join in such proceeding. Landlord shall cooperate with Tenant with respect to such proceedings to the extent reasonably necessary. If any refund or credit is received which is allocable to Tenant’s Tax Rent, provided Tenant is not then in default beyond any applicable notice and/or grace period, the same shall be credited to the next succeeding payment of taxes due from Tenant or paid to Tenant if such refund or credit is given at the end of the Premises; term or thereafter, which obligation shall survive the expiration of the Term or the termination of this Lease. Landlord shall estimate the annual Taxes on the Property prior to each calendar year. During the Term of the Lease, beginning on the Commencement Date, Tenant shall pay its Tax Rent in twelve (c12) imposed monthly installments on this transaction the first day of each month on an estimated basis as so determined by the Landlord. After the actual annual Taxes of the Property have been determined, ▇▇▇▇▇▇’s share of such Taxes shall be determined. Any amount paid by Tenant which exceeds the actual amount due shall be credited to the next succeeding payments due pursuant hereto (or based on any document refunded to which Tenant, if at or after the end of the Term, provided Tenant is not in default). If Tenant has paid less than the actual amount due, Tenant shall pay the difference to Landlord within ten (10) days after Landlord’s request therefore as Additional Rent. Notwithstanding the aforementioned, Landlord may, at any time and from time to time, reasonably revise the amount of the monthly Tax Rent payment due, to cover any Tax Rent increase not previously factored into the annual estimate. Upon ▇▇▇▇▇▇’s receipt of a party creating revised monthly statement, Tenant shall pay Landlord, as additional rent, the revised amount. Landlord shall pay the Taxes upon the Premises prior to the date they may be paid without any fine, penalty or transferring an interest interest, and upon request furnish to Tenant satisfactory evidence of the payment of all Taxes. Landlord will provide Tenant with the year-end Tax statement and a copy of substantiating tax bills prior to the end of the first (1st) quarter (March 31st) of the succeeding year. Each such Tax cost statement given by Landlord pursuant to this Section 7 shall be conclusive and binding upon Tenant unless within ninety (90) days after the receipt of such statement Tenant notifies Landlord in writing that it disputes the correctness of the statement, specifying the particular respects in which the statement is claimed to be incorrect. However, Landlords failure to provide such Tax cost statement by the date provided for herein shall in no way excuse Tenant from its obligation to pay its pro rata share of Tax Rent or an estate constitute a waiver of Landlord’s right to bill and collect such pro rata share of Tax Rent from Tenant in accordance with this provision. The Tenant will be responsible for any added assessments that are billed in the Premises. If it is unlawful for Tenant to reimburse Landlord new tax year for the Impositionsprevious years, but lawful to increase the monthly Rent to take into account Landlord’s payment of the Impositions, the monthly Rent payable to Landlord shall and this added assessment must be revised to provide Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositionspaid immediately upon presentation.

Appears in 1 contract

Sources: Lease Agreement (Verde Clean Fuels, Inc.)

Impositions. In addition A. Tenant covenants and agrees to pay during the term of this Lease, as Additional Rent, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, all impositions described herein that accrue on or after the Commencement Date, which include without limitation, all real estate taxes, special assessments, water rates and charges, sewer rates and charges, including any sum or sums payable for future sewer or water capacity increases, charges for public utilities, street lighting, excise levies, licenses, permits, inspection fees, other governmental charges, and all other charges or burdens of whatsoever kind and nature (including costs, fees, and expenses of complying with any restrictive covenants or similar agreements to which the Demised Premises are subject), incurred in the use, occupancy, ownership, operation, leasing or possession of the Demised Premises, without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen (all of which are sometimes herein referred to as Impositions"), which at any time during the term may have been or may be assessed, levied, confirmed, imposed upon, or become a lien on the Demised Premises, or any portion thereof, or any appurtenance thereto, rents or income therefrom, and such easements or rights as may now or hereafter be appurtenant or appertain to the use of the Demised Premises. B. If, at any time during the term of this Lease, any method of taxation shall be such that there shall be levied, assessed or imposed on Landlord, or on the Basic Rent or Additional Rent, or on the Demised Premises or on the value of the Demised Premises, or any portion thereof, a capital levy, sales or use tax, gross receipts tax or other tax on the rents received therefrom, or a franchise tax, or an assessment, levy or charge measured by or based in whole or in part upon such rents or value, Tenant covenants to pay and other charges discharge the same, it being the intention of the parties hereto that the rent to be paid hereunder shall be paid to Landlord absolutely net without deduction or charge of any nature whatsoever foreseeable or unforeseeable, ordinary or extraordinary, or of any nature, kind or description, except as in this Lease otherwise expressly provided. Nothing in this Lease contained shall require Tenant to pay any municipal, state or federal net income or excess profits taxes assessed against Landlord, or any municipal, state or federal capital levy, estate succession, inheritance or transfer taxes of Landlord, or corporation franchise taxes imposed upon any corporate owner of the fee of the Demised Premises. C. Tenant covenants to furnish Landlord, within 30 days after the date upon which any Imposition or other tax assessment, levy or charge is payable by Tenant, official receipts of the appropriate taxing authority, or other appropriate proof satisfactory to Landlord, evidencing the payment of the same. The certificate, advice or bill of the appropriate official designated by law to make or issue ▇▇▇ same or to receive payment of any Imposition or other tax, assessment, levy or charge may be relied upon by Landlord as sufficient evidence that such Imposition or other tax, assessment, levy or charge is due and unpaid at the time of the making or issuance of such certificate, advice or bill, unless Tenant provides Landlord with evidence to the contrary. D. At Landlord's written demand after any Event of Default (as defined in Section 20 hereinafter) and for as long as such Event of Default is uncured, or upon the request of any Mortgagee of the Demised Premises, (but only after an Event of Default and for as long as such Event of Default is uncured) Tenant shall pay to Landlord the known or estimated yearly real estate taxes and assessments payable with respect to the Demised Premises in monthly payments equal to one-twelfth of the known or estimated yearly real estate taxes and assessments next payable with respect to the Demised Premises. From time to time Landlord may re-estimate the amount of real estate taxes and assessments, and in such event Landlord shall notify Tenant, in writing, of such re-estimate and fix future monthly installments for the remaining period prior to the next tax and assessment due date in an amount sufficient to pay the re-estimated amount over the balance of such period after giving credit for payments made by Tenant on the previous estimate. If the total monthly payments made by Tenant pursuant to this Paragraph 16D shall exceed the amount of payments necessary for said taxes and assessments, such excess shall be credited on subsequent monthly payments of the same nature; but if the total of such monthly payments so made under this paragraph shall be insufficient to pay such taxes and assessments when due, then Tenant shall pay to Landlord such amount as may be necessary to make up the deficiency. E. Tenant shall have the right at its own expense to contest the amount or validity, in whole or in part, of any Imposition by appropriate proceedings diligently conducted in good faith, but only after Tenant provides Landlord or the Mortgagee reasonable security, or Tenant makes payment of such Imposition, unless such payment, or a payment thereof under protest, would operate as a bar to such contest or interfere materially with the prosecution thereof, in which event, notwithstanding the provisions of Paragraph 16A hereof Tenant may postpone or defer payment of such Imposition if neither the Demised Premises nor any portion thereof would, by reason of such postponement or deferment, be in danger of being forfeited or lost, and (b) Tenant is not then in Material Breach of this Lease. Upon the termination of any such proceedings, Tenant shall pay Landlord for all the amount of such Imposition or part thereof, if any, as finally determined in such proceedings, the following items (collectivelypayment of which may have been deferred during the prosecution of such proceedings, “Impositions”): (i) assessments or levies on the Building or Park Place Projecttogether with any costs, fees, including without limitationattorney's fees, all assessments for public improvementsinterest, servicespenalties, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspectionfines and other liability in connection therewith, and other authorization fees imposed on upon such payment Landlord shall return all amounts or certificates deposited with it with respect to the Building contest of such Imposition, as aforesaid, or, at the written direction of Tenant, Landlord shall make such payment out of the funds on deposit with Landlord and the balance, if any, shall be returned to Tenant. Tenant shall be entitled to the refund of any Imposition, penalty, fine and interest thereon received by Landlord which have been paid by Tenant or the Park Place Project; (iv) service charges imposed which have been paid by governmental authorities Landlord but for which Landlord has been previously reimbursed in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed full by a governmental authority; provided, however, that Impositions Tenant. Landlord shall not include amounts otherwise included be required to join in Common Area Operating Costs any proceedings referred to in this Paragraph 16E unless the provisions of any law, rule or Building Operating Costs regulation at the time in effect shall require that such proceedings be brought by or Real Property Taxesin the name of Landlord, in which event Landlord shall join in such proceedings or permit the same ________ brought in Landlord's name upon compliance with such conditions as Landlord may reasonably require. Landlord shall not ultimately be subject to any liability for the payment of any fees, including attorney's fees, costs and expenses in connection with such proceedings. Tenant is obligated agrees to pay the Impositions only all such fees (including reasonable attorney's fees), costs and expenses or, on demand, to the extent that the Impositions are (a) based on, measured by, or commercially reasonable make reimbursement to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the PremisesLandlord for such payment. If it Landlord is unlawful for Tenant to reimburse Landlord provided a certificate of deposit or other interest bearing instrument as security for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the contested Imposition, during the time when any such certificate of deposit or other interest bearing instrument is on deposit with Landlord, and prior to the time when the same is returned to Tenant or applied against the payment, removal or discharge of Impositions, the monthly Rent payable to Landlord as above provided, Tenant shall be revised entitled to provide Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositionsreceive all interest paid thereon, if any. Cash deposits shall not bear interest.

Appears in 1 contract

Sources: Sublease (R2 Technology Inc)

Impositions. In addition to the Rent monthly rental and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for all of the following items (collectively, "Impositions"): (i) assessments taxes, other than local, state, and federal personal or levies on corporate income taxes measured by the Building or Park Place Projectnet income of Landlord; (ii) assessments, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (iiiii) excises; (iv) levies; (v) business taxes on the Building or Park Place Projecttaxes; (iiivi) license, permit, inspection, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Projectfees; (ivvii) transit development fees; (viii) assessments or charges for housing funds; (ix) service charges imposed by governmental authorities payments in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmed, or imposed by a governmental public authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs Expenses or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute reasonably attributable to, the cost or value of Tenant’s 's equipment, furniture, fixtures, and other personal property located in the Premises, or the cost or value of any leasehold improvements made to the Premises by or for Tenant, regardless of whether title to the improvements shall be in Tenant or Landlord; (b) based on or measured by the monthly rental or other charges payable under this Lease, including without limitation, any gross receipts tax levied by a municipality, the State of California, the Federal Government, or any other governmental body with respect to the receipt of the rental; (c) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (cd) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord for the Impositions, but lawful to increase the monthly Rent rental to take into account Landlord’s 's payment of the Impositions, the monthly Rent rental payable to Landlord shall be revised to provide net Landlord the same net return without reimbursement of the Impositions as would have been received by Landlord with reimbursement of the Impositions.

Appears in 1 contract

Sources: Standard Office Lease (Salon Internet Inc)

Impositions. In addition to the Rent monthly rental and other charges to be paid by Tenant under this Lease, Tenant shall pay Landlord for all of the following items (collectively, “Impositions”"IMPOSITIONS"): (i) assessments taxes, other than local, state, and federal personal or levies on corporate income taxes measured by the Building or Park Place Projectnet income of Landlord; (ii) assessments, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (iiiii) excises; (iv) levies; (v) business taxes on the Building or Park Place Projecttaxes; (iiivi) license, permit, inspection, and other authorization fees imposed on Landlord with respect to the Building or the Park Place Projectfees; (ivvii) transit development fees; (viii) assessments or charges for housing funds; (ix) service charges imposed by governmental authorities payments in lieu of taxes and; (x) any other fees or charges that are levied, assessed, confirmedconfirrned, or imposed by a governmental public authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs Expenses or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only to the extent that the Impositions are (a) based on, measured by, or commercially reasonable to attribute reasonably attributable to, the cost or value of Tenant’s 's equipment, furniture, fixtures, and other personal property located in the Premises, or the cost or value of any above Building standard leasehold improvements made to the Premises by or for Tenant, regardless of whether title to the improvements shall be in Tenant or Landlord; (b) based on or measured by the developmentmonthly rental or other charges payable under this Lease, including without limitation, any gross receipts tax levied by a municipality, the State of California, the Federal Government, or any other governmental body with respect to the receipt of the rental; (c) based on the possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (cd) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord for the Impositions, but lawful to increase the monthly Rent rental to take into account Landlord’s 's payment of the Impositions, the monthly Rent rental payable to Landlord shall be revised to provide net Landlord the same net return without reimbursement of the Impositions impositions as would have been received by Landlord with reimbursement of the Impositions.

Appears in 1 contract

Sources: Office Lease (Hambrecht & Quist Group)

Impositions. In addition to (a) Tenant shall, from and after the Rent Commencement Date, pay and other charges to be paid by Tenant under this Leasedischarge any and all “Impositions” (hereinafter defined), Tenant shall pay Landlord which accrue or become due and payable for all any period from and after the Commencement Date through and including the end of the following items Term. (collectivelyb) As used herein, but subject to subsection (d) below, the term “Impositions” (singularly, an “Imposition): ) shall mean all real estate taxes, assessments, property taxes, excise taxes, business and occupation taxes, water and sewer charges and rents, sales and use taxes, including governmental impositions and charges of every kind and nature whatsoever, whether ordinary or extraordinary, general or special, foreseen or unforeseen, or similar or dissimilar to any of the foregoing , including specifically, but without limitation: (i) assessments any tax, assessment or levies on other governmental charge of any kind which at any time during the Building Term may be assessed, levied, imposed upon or Park Place Project, including without limitation, all assessments for public improvements, services, or benefits, irrespective of when commenced or completed; (ii) business taxes on the Building or Park Place Project; (iii) license, permit, inspection, become due and other authorization fees imposed on Landlord payable with respect to the Building or the Park Place Project; Premises; (iv) service charges imposed by governmental authorities in lieu of taxes and; (xii) any tax or charge for fire protection, refuse collection, sewer, water, streets, sidewalks or road maintenance or other fees or charges that are levied, assessed, confirmed, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant is obligated to pay the Impositions only services provided to the extent that Premises by any governmental or public agency; and (iii) any tax replacing or supplementing in while or in part any tax levy, assessment or charge previously included with in the definition of Impositions are under this Lease. (ac) based on, measured by, or commercially reasonable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in If any assessment for public improvements is levied against the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document to which Tenant is a party creating or transferring an interest or an estate in the Premises. If it is unlawful for Tenant to reimburse Landlord for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the Impositions, the monthly Rent payable to Landlord shall be revised deemed to provide have elected to pay such assessment in the maximum number of installments then permitted by law (whether or not Landlord actually so elects), and Tenant shall pay the same net return without reimbursement installments payable during or attributable to the Term, together with any interest due as a result of the Impositions as would have been received by Landlord installment payments. Any installment for a period during which the Commencement Date or Expiration Date occurs shall be prorated in accordance with reimbursement of Section 3.02. (d) Notwithstanding the Impositionsforegoing, nothing in this Lease shall require Tenant to pay Landlord’s federal or state income, excess profits, franchise, succession, transfer, gift, inheritance or estate taxes.

Appears in 1 contract

Sources: Lease Agreement (GTJ REIT, Inc.)

Impositions. In addition to “Impositions” shall mean all real estate or personal property taxes, possessory interest taxes, or similar charges, business or license taxes or fees, service payments in lieu of such taxes or fees, annual or periodic license or use fees, excises, assessments, levies, fees or charges, general and special, ordinary and extraordinary, unforeseen as well as foreseen, of any kind (including fees “in-lieu” of any such tax or assessment) which are assessed, levied, charged, or imposed by any public authority upon the Land, the Building, its operations or the Rent (or any portion or component thereof) including, in the year paid, all fees and other charges costs incurred by Landlord in seeking to be paid by Tenant under this Leaseobtain an abatement or reduction of, Tenant shall pay Landlord for all or a limit on any increase, in any taxes, regardless of the following items (collectivelywhether any abatement, “Impositions”): reduction or limitation is obtained, but excluding (i) assessments or levies on the Building or Park Place Projectinheritance, including without limitationestate, all assessments for public improvementsfranchise, servicescapital stock, or benefitsgift taxes imposed upon or assessed against the Building, irrespective of when commenced or completed; any part thereof or interest therein, (ii) business taxes on computed upon the basis of the net income derived from the Building by Landlord or Park Place Project; the owner of any interest therein, (iii) license, permit, inspection, and other authorization fees imposed on Landlord that portion of the items enumerated in this Section which is properly attributable to or separately payable by the tenants in the Commercial Section of the Building; (iv) any of the enumerated items payable with respect to the parking garage forming part of the Building (including the elevators serving such garage) or the Park Place Project; (iv) service charges imposed by governmental authorities in lieu of taxes and; (xv) any other fees or charges that are leviedpenalties, assessed, confirmedfines, or imposed by a governmental authority; provided, however, that Impositions shall not include amounts otherwise included in Common Area Operating Costs or Building Operating Costs or Real Property Taxes. Tenant interest which Landlord is obligated to pay the by reason of failure by Landlord to timely pay Impositions only (except to the extent that the Impositions are (a) based on, measured by, or commercially reasonable attributable to attribute to, the cost or value of Tenant’s equipment, furniture, fixtures, and other personal property located in the Premises, (b) based on the development, possession, leasing, operation, management, maintenance, alteration, repair, use, or occupancy by Tenant of the Premises or any portion of the Premises; or (c) imposed on this transaction or based on any document failure to which Tenant is a party creating or transferring an interest or an estate in the Premisescomply with its obligations hereunder). If it is unlawful for Tenant to reimburse Landlord for the Impositions, but lawful to increase the monthly Rent to take into account Landlord’s payment of the Impositions, the monthly Rent payable to Landlord shall be revised refund or credit to provide Landlord the same net return without reimbursement Tenant its Proportionate Share of the Impositions as would have been any abatement actually received by Landlord with reimbursement (net of fees and costs not previously included in Tenant’s share of Impositions) for Impositions for any year included in the Term for which Tenant previously paid such Impositions, provided that Tenant is not in default under the Lease continuing beyond any applicable notice and cure period.

Appears in 1 contract

Sources: Lease (NewStar Financial, Inc.)