Common use of Certiorari Proceeding Clause in Contracts

Certiorari Proceeding. Any refunds with respect to --------------------- certiorari proceedings for tax years prior to and including the current tax year shall belong to Seller and Seller may continue with and control such proceedings, provided that if any portion of a refund is received by Seller which relates to any period after the Closing, such portion shall be delivered to Purchaser. After the Review Period, Seller shall keep Purchaser advised of the status of any certiori proceedings which relate to the current tax year or could affect the taxes due for a subsequent tax year and Purchaser shall have the right to participate in and approve tax settlements of such certiori proceedings which relate to the current tax year, which settlements shall not be effective without Purchaser's prior written approval.

Appears in 7 contracts

Samples: Purchase and Sale Agreement (American General Hospitality Corp), Purchase and Sale Agreement (American General Hospitality Corp), Purchase and Sale Agreement (American General Hospitality Corp)

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Certiorari Proceeding. Any refunds with respect to --------------------- certiorari proceedings for tax years prior to and including the current tax year shall belong to Seller and Seller may continue with and control such proceedings, provided that if any portion of a refund is received by Seller which relates to any period after the Closing, such portion shall be delivered to Purchaser. After the Review Period, Seller shall keep Purchaser advised of the status of any certiori proceedings which relate to the current tax year or could affect the taxes due for a subsequent tax year and Purchaser shall have the right to participate in and approve tax settlements of such certiori proceedings which relate to the current tax year, which settlements shall not be effective without Purchaser's prior written approval.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Prime Hospitality Corp)

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Certiorari Proceeding. Any refunds with respect to --------------------- ---------------------- certiorari proceedings for tax years prior to and including the current tax year shall belong to Seller and Seller may continue with and control such proceedings, provided that if any portion of a refund is received by Seller which relates to any period after the Closing, such portion shall be delivered to Purchaser. After the Review Period, Seller shall keep Purchaser advised of the status of any certiori proceedings which relate to the current tax year or could affect the taxes due for a subsequent tax year and Purchaser shall have the right to participate in and approve tax settlements of such certiori proceedings which relate to the current tax year, which settlements shall not be effective without Purchaser's prior written approval.

Appears in 1 contract

Samples: Purchase and Sale Agreement (American General Hospitality Corp)

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