Abatements. For the purpose of determining payments due from Tenant under this Article VI, Taxes and Impositions shall be the Taxes and Impositions assessed until such time as the Taxes and Impositions are reduced by abatement, refund or rebate. If any abatement, refund or rebate is granted, the Taxes or Impositions, as applicable, shall be the Taxes or Impositions as so reduced. Any rebate, refund or abatement received subsequent to payment of such Taxes or Impositions by Tenant shall be refunded to Tenant by Landlord within ten (10) Business Days of receipt by Landlord, even if the abatement is received after the expiration or earlier termination of this Lease, and such obligations shall survive termination of this Lease. If Landlord or any taxing authority applies any rebate, refund or abatement as a credit against Taxes or Impositions due for a period following the termination of this Lease, then the rebate, refund or abatement shall be deemed received by Landlord upon granting of the rebate, refund or abatement. If Landlord or any taxing authority fails to refund any rebate, refund or abatement to Tenant within thirty (30) days after receipt (other than any rebate, refund or abatement that will be applied as a credit against Taxes and Impositions due for another period), Tenant shall be entitled to interest calculated at the Default Interest Rate from the date payment was due until the date payment is made. Any rebate, refund or abatement realized by Landlord prior to payment of the Taxes and Impositions by Tenant shall result in the immediate reduction of Taxes and Impositions then due from Tenant to Landlord.
Appears in 3 contracts
Samples: Purchase and Sale Agreement (Energy XXI LTD), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.), Connection and Access Agreement (CorEnergy Infrastructure Trust, Inc.)
Abatements. For the purpose of determining payments due from Tenant Lessee under this Article VI, Taxes and Impositions shall be the Taxes and Impositions assessed until such time as the Taxes and Impositions are reduced by abatement, refund or rebate. If any abatement, refund or rebate is granted, the Taxes or Impositions, as applicable, shall be the Taxes or Impositions as so reduced. Any rebate, refund or abatement received subsequent to payment of such Taxes or Impositions by Tenant Lessee shall be refunded to Tenant Lessee by Landlord Lessor within ten (10) Business Days of receipt by LandlordLessor, even if the abatement is received after the expiration or earlier termination of this Lease, and such obligations shall survive termination of this Lease. If Landlord Lessor or any taxing authority applies any rebate, refund or abatement as a credit against Taxes or Impositions due for a period following the termination of this Lease, then the rebate, refund or abatement shall be deemed received by Landlord Lessor upon granting of the rebate, refund or abatement. If Landlord Lessor or any taxing authority fails to refund any rebate, refund or abatement to Tenant Lessee within thirty (30) days after receipt (other than any rebate, refund or abatement that will be applied as a credit against Taxes and Impositions due for another period), Tenant Lessee shall be entitled to interest calculated at the Default Interest Rate from the date payment was due until the date payment is made. Any rebate, refund or abatement realized by Landlord Lessor prior to payment of the Taxes and Impositions by Tenant Lessee shall result in the immediate reduction of Taxes and Impositions then due from Tenant Lessee to LandlordLessor.
Appears in 2 contracts
Samples: Confidential Treatment (CorEnergy Infrastructure Trust, Inc.), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.)
Abatements. For the purpose of determining payments due from Tenant under this Article VIVI , Taxes and Impositions shall be the Taxes and Impositions assessed until such time as the Taxes and Impositions are reduced by abatement, refund or rebate. If any abatement, refund or rebate is granted, the Taxes or Impositions, as applicable, shall be the Taxes or Impositions as so reduced. Any rebate, refund or abatement received subsequent to payment of such Taxes or Impositions by Tenant shall be refunded to Tenant by Landlord within ten (10) Business Days of receipt by Landlord, even if the abatement is received after the expiration or earlier termination of this Lease, and such obligations shall survive termination of this Lease. If Landlord or any taxing authority applies any rebate, refund or abatement as a credit against Taxes or Impositions due for a period following the termination of this Lease, then the rebate, refund or abatement shall be deemed received by Landlord upon granting of the rebate, refund or abatement. If Landlord or any taxing authority fails to refund any rebate, refund or abatement to Tenant within thirty (30) days after receipt (other than any rebate, refund or abatement that will be applied as a credit against Taxes and Impositions due for another period), Tenant shall be entitled to interest calculated at the Default Interest Rate from the date payment was due until the date payment is made. Any rebate, refund or abatement realized by Landlord prior to payment of the Taxes and Impositions by Tenant shall result in the immediate reduction of Taxes and Impositions then due from Tenant to Landlord.
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