Real Estate Taxes. During the Term of this Lease Agreement and any renewals or extensions thereof, [[Organization B:Organization]] shall pay its pro rata share of the Real Estate Taxes. The term “Real Estate Taxes” herein shall mean the total of all taxes, fees, charges and assessments, general and special, ordinary and extraordinary, foreseen and unforeseen, which become due or payable against or upon the Building or the parcel(s) of land upon which it is located. All reasonable attorneys’ fees and other reasonable costs and expenses incurred by [[Organization A:Organization]] during negotiations for or contests of the amount of Real Estate Taxes shall be included within the term “Real Estate Taxes”. The term “Real Estate Taxes” shall not include # federal, state or local income taxes, or any other tax measured by [[Organization A:Organization]]’s income or the rents paid at the Building; # franchise, gift, transfer, excise, transfer, capital stock, estate, succession or inheritance taxes; and # penalties or interest on late payment of Real Estate Taxes. In the event the taxing authorities include in the Real Estate Taxes the value of any machinery, equipment, inventory or other personal property or assets of [[Organization B:Organization]], then [[Organization B:Organization]] shall pay, as Additional Rent, all of the taxes attributable to such items in addition to its pro rata share of said aforementioned Real Estate Taxes.
Notwithstanding anything to the contrary contained herein, no Borrower will, and no Borrower will permit any of the other Loan Parties to grant a Lien on, or otherwise encumber, aside from any Permitted Liens, the real property identified as Parcel , representing 2.7 acres in Titusville, PA 16354 owned by Castle.
Except as could not reasonably be expected to have a Material Adverse Effect, each of the Borrower and its Subsidiaries has # good and marketable fee title to all of its owned Real Property Assets and # good and valid title to the leasehold estates in all of the leased Real Property Assets, in each case free and clear of all Liens except Permitted Liens.
REAL ESTATE TAX INCREASES. LESSEE shall pay LESSOR as additional rent a proportionate share (based on square footage leased by LESSEE as compared with the total leaseable square footage of the building(s) of which the premises are a part (building)) of # all increases in the real estate (axes levied against the land and building (property), whether such increase(s) is/are due to an increase in the tax rate or assessment, or a change in the method of determining real estate taxes, and # all real property surcharges and special assessments levied against the property. The base from which to determine the amount of any increase in taxes shall be (he rate and the assessment in effect for the fiscal year ending June 30, 2016, net of abatements, if any.
URBN PR HOLDING, INC.
Kidder Matthews is the broker of record representing Tenant and JLL is the broker of record representing Landlord.
Operating Charges and Real Estate Taxes. Tenant shall pay as additional rent Tenants Proportionate Share of Operating Charges and Tenants Proportionate Share of Real Estate Taxes (as both such terms are defined in [Exhibit E]) for each calendar year falling entirely or partly within the Lease Term, subject to and in accordance with the provisions set forth in [Exhibit E] attached hereto.
The Lease shall be a NNN Lease and Tenant shall be responsible for paying to Landlord Tenants prorata share of building operating expenses. Such building operating expenses shall include all property operating expenses and annual increases, including building and common area maintenance, landscaping, costs of building insurance, repairs and real estate taxes, utilities, HVAC maintenance, common area janitorial and property management fees.
Real Estate Taxes, Special Assessments and Prorations. The responsibility for all real property taxes for the current tax period and all expenses (including but not limited to common area maintenance expenses and fees), if any, that are the responsibility of Seller, shall be prorated between Buyer and Seller as of the Closing Date.
Additional Rent - Real Estate Taxes and Operating Expenses. Notwithstanding anything in this Lease to the contrary, beginning on the Phase 1 Rent Commencement Date. [[Organization B:Organization]]’s pro rata share of Real Estate Taxes and Operating Expenses shall be adjusted upwards to include the Phase 1 Expansion Space, and beginning on the Phase 2 Rent Commencement Date, [[Organization B:Organization]]’s pro rata share of Real Estate Taxes and Operating Expenses shall be adjusted upwards to include the Phase 2 Expansion Space. For the avoidance of doubt, # effective on the Phase 1 Rent Commencement Date, [[Organization B:Organization]]’s pro rata share of Real Estate Taxes and Operating Expenses will be based on 68.962 rentable square feet and will equal 76.26%; and # effective on the Phase 2 Rent Commencement Date, [[Organization B:Organization]]’s pro rata share of Real Estate Taxes and Operating Expenses will be based on 90,435 rentable square feet and will equal 100%.
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