This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
Hawaii Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share refers to a concept related to property and lease agreements in the state of Hawaii. This adjustment mechanism ensures a fair allocation of tax responsibilities among tenants occupying a multi-tenant property. In Hawaii, commercial properties with multiple tenants are often subject to property taxes. The Measurement Representations and Proportionate Share Adjustment determine the proportional tax share of each tenant based on their leased space or percentage share of the property. There are different types of measurement representations and proportionate share adjustments commonly used in Hawaii, including: 1. Gross Leasable Area (GLA) Measurement: This method calculates the proportional tax share based on the square footage of the tenant's leased space in comparison to the total leasable area of the property. Each tenant's tax share is determined by dividing their leased area by the total GLA and multiplying it by the property's total tax. 2. Percentage Share Measurement: In some cases, tenants may have varying degrees of ownership or investment in a property. Here, the tax allocation depends on the percentage share each tenant has in the property. The percentage share is typically calculated based on ownership records or financial agreements and is used to determine the proportional tax burden. 3. Variable Measurement Representations: Depending on the specific terms of the lease or property agreement, there may be variations in measurement representations and adjustment methods. Some leases may specify the use of alternative measurement representations, such as Net Leasable Area or Usable Area, to determine the proportionate tax share. The Proportionate Share Adjustment ensures that each tenant's tax obligation accurately reflects their use and benefit from the property. It helps prevent inequitable burdens on smaller tenants by aligning tax responsibilities with their proportional footprint or investment. Overall, the Hawaii Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share serve as a fair and transparent mechanism for allocating property tax burdens among multiple tenants in commercial properties within the state.Hawaii Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share refers to a concept related to property and lease agreements in the state of Hawaii. This adjustment mechanism ensures a fair allocation of tax responsibilities among tenants occupying a multi-tenant property. In Hawaii, commercial properties with multiple tenants are often subject to property taxes. The Measurement Representations and Proportionate Share Adjustment determine the proportional tax share of each tenant based on their leased space or percentage share of the property. There are different types of measurement representations and proportionate share adjustments commonly used in Hawaii, including: 1. Gross Leasable Area (GLA) Measurement: This method calculates the proportional tax share based on the square footage of the tenant's leased space in comparison to the total leasable area of the property. Each tenant's tax share is determined by dividing their leased area by the total GLA and multiplying it by the property's total tax. 2. Percentage Share Measurement: In some cases, tenants may have varying degrees of ownership or investment in a property. Here, the tax allocation depends on the percentage share each tenant has in the property. The percentage share is typically calculated based on ownership records or financial agreements and is used to determine the proportional tax burden. 3. Variable Measurement Representations: Depending on the specific terms of the lease or property agreement, there may be variations in measurement representations and adjustment methods. Some leases may specify the use of alternative measurement representations, such as Net Leasable Area or Usable Area, to determine the proportionate tax share. The Proportionate Share Adjustment ensures that each tenant's tax obligation accurately reflects their use and benefit from the property. It helps prevent inequitable burdens on smaller tenants by aligning tax responsibilities with their proportional footprint or investment. Overall, the Hawaii Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share serve as a fair and transparent mechanism for allocating property tax burdens among multiple tenants in commercial properties within the state.
