Common use of Proposition 13 Clause in Contracts

Proposition 13. Notwithstanding any other provision of the Lease, if at any time commencing on the Initial Expansion Premises Commencement Date and expiring on the last calendar day of the sixtieth (60”) full calendar month thereafter (“Protection Period”), any sale, transfer or change in ownership of, or construction relating to, the Building or Project, or any portion thereof or any interest therein, is consummated and, solely as a result of such sale, transfer or change in ownership, or construction, all or part of the Building or Project is reassessed (“Reassessment”) for real estate tax purposes by the appropriate government authority under the terms of Proposition 13, the terms of this Section 8 shall apply. In the event Proposition 13 is repealed or modified, the provisions of this Section 8 shall be applied as if no such repeal or modification was effective.