REDUCTION IN
TAXES OR ASSESSED VALUATION.
TENANT, FOR ITSELF AND ITS IMMEDIATE AND REMOTE
SUBTENANTS AND SUCCESSORS IN INTEREST HEREUNDER, HEREBY WAIVES, TO THE EXTENT
PERMITTED BY LAW, ANY RIGHT TENANT MAY NOW OR IN THE FUTURE HAVE TO PROTEST OR
CONTEST ANY TAXES OR TO BRING ANY APPLICATION OR PROCEEDING SEEKING A REDUCTION
IN TAXES OR ASSESSED VALUATION OR OTHERWISE CHALLENGING THE DETERMINATION
THEREOF.
(D)
THE BENEFIT OF ANY DISCOUNT FOR THE EARLY
PAYMENT OR PREPAYMENT OF TAXES SHALL ACCRUE SOLELY TO THE BENEFIT OF LANDLORD
AND SUCH DISCOUNT SHALL NOT BE SUBTRACTED FROM TAXES.
(E)
IN RESPECT OF ANY TAX YEAR WHICH BEGINS
PRIOR TO THE COMMENCEMENT DATE OR TERMINATES AFTER THE EXPIRATION DATE, THE TAX
PAYMENT IN RESPECT OF EACH SUCH TAX YEAR OR TAX REFUND PURSUANT TO
SUBDIVISION (B) ABOVE THEREFOR SHALL BE PRORATED TO CORRESPOND TO THAT PORTION
OF SUCH TAX YEAR OCCURRING WITHIN THE TERM OF THIS LEASE.
(F)
IF THE TAXES COMPRISING THE BASE TAX
AMOUNT ARE REDUCED AS A RESULT OF AN APPROPRIATE PROCEEDING OR OTHERWISE, THE
TAXES AS SO REDUCED SHALL, FOR ALL PURPOSES BE DEEMED TO BE THE TAXES FOR THE
BASE TAX AMOUNT AND LANDLORD SHALL GIVE NOTICE TO TENANT OF THE AMOUNT BY WHICH
THE TAX PAYMENTS PREVIOUSLY MADE WERE LESS THAN THE TAX PAYMENTS REQUIRED TO BE
MADE UNDER THIS ARTICLE 3, AND TENANT SHALL PAY THE AMOUNT OF THE DEFICIENCY
WITHIN TWENTY (20) DAYS AFTER DEMAND THEREFOR.
11
(G)
TENANT SHALL PAY TO LANDLORD WITHIN THIRTY
(30) DAYS AFTER BEING BILLED THEREFOR, TENANT'S TAX SHARE OF ANY EXPENSES
INCURRED BY LANDLORD IN CONTESTING ANY ITEMS COMPRISING TAXES AND/OR THE
ASSESSED VALUE OF THE REAL PROPERTY.
3.03
(A)
FOR EACH
OPERATING YEAR, SUBSEQUENT TO THE BASE OPERATING YEAR, ANY PART OF WHICH SHALL
OCCUR DURING THE TERM OF THIS LEASE, TENANT SHALL PAY AN AMOUNT ("OPERATING
PAYMENT") EQUAL TO THE SUM OF TENANT'S OPERATING SHARE OF THE AMOUNT BY WHICH
THE OPERATING EXPENSES FOR SUCH OPERATING YEAR EXCEED THE OPERATING EXPENSES FOR
THE BASE OPERATING YEAR.
(B)
IF DURING THE BASE OPERATING YEAR OR ANY
OPERATING YEAR (I) ANY RENTABLE SPACE IN THE BUILDING SHALL BE VACANT OR
UNOCCUPIED, AND/OR (II) THE TENANT OR OCCUPANT OF ANY SPACE IN THE BUILDING
UNDERTOOK TO PERFORM WORK OR SERVICES THEREIN IN LIEU OF HAVING LANDLORD (OR
LANDLORD'S AFFILIATES) PERFORM THE SAME AND THE COST THEREOF WOULD HAVE BEEN
INCLUDED IN OPERATING EXPENSES, THEN, IN ANY SUCH EVENT(S), THE OPERATING
EXPENSES FOR SUCH PERIOD SHALL BE REASONABLY ADJUSTED TO REFLECT THE OPERATING
EXPENSES THAT WOULD HAVE BEEN INCURRED IF SUCH SPACE HAD BEEN OCCUPIED OR IF
LANDLORD (OR LANDLORD'S AFFILIATES) HAD PERFORMED SUCH WORK OR SERVICES, AS THE
CASE MAY BE.
(C)
LANDLORD MAY FURNISH TO TENANT, PRIOR TO
THE COMMENCEMENT OF EACH OPERATING YEAR A WRITTEN STATEMENT SETTING FORTH IN
REASONABLE DETAIL LANDLORD'S REASONABLE ESTIMATE OF THE OPERATING PAYMENT FOR
SUCH OPERATING YEAR.
TENANT SHALL PAY TO LANDLORD ON THE FIRST DAY OF EACH
MONTH DURING THE OPERATING