Ad Valorem Taxes. Ad valorem, property and similar taxes and assessments with respect to the Equipment for the assessment year in which Closing occurs shall be prorated to the Closing Date, so that Seller shall be responsible for such taxes for the period prior to the Closing Date and Buyer shall be responsible for such taxes for the period on and after the Closing Date.
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Samples: Equipment Purchase Agreement, Equipment Purchase Agreement (Multimedia Games Inc), Equipment Purchase Agreement (Multimedia Games Inc)
Ad Valorem Taxes. Ad valorem, property and similar taxes and assessments with respect to the Equipment Assets for the assessment year in which the Closing occurs shall be prorated to the Closing Date, so that Seller shall be responsible for such taxes for the period prior to the Closing Date and Buyer shall be responsible for such taxes for the period on and after the Closing Date.
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