Contest of Property Tax Valuation. Operator shall timely and diligently protest to a final determination each tax valuation it deems unreasonable. Pending such determination, Operator may elect to pay under protest. Upon final determination, Operator shall pay the taxes and the interest, penalties, and costs accrued as a result of the protest. In either event, Operator shall charge each Party its share of any amounts due, and each Party shall be responsible for reimbursing Operator for any such amounts paid.
Appears in 6 contracts
Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC), Offshore Operating Agreement (Ridgewood Energy Q Fund LLC), Exploration Participation Agreement (Ridgewood Energy U Fund LLC)
Contest of Property Tax Valuation. Operator shall timely and diligently protest to a final determination each tax of any valuation it deems unreasonable. Pending such determination, Operator may elect to pay under protest. Upon final determination, Operator shall pay the taxes and the any interest, penalties, and costs penalty or cost accrued as a result of the such protest. In either event, Operator shall charge each Party its share of any amounts due, and each Party shall be responsible for reimbursing Operator for any such amounts paidshare.
Appears in 2 contracts
Samples: Letter Agreement, Joint Operating Agreement (West Texas Resources, Inc.)
Contest of Property Tax Valuation. Operator shall timely and diligently protest to a final determination each tax any valuation it deems unreasonable. Pending such determination, Operator may elect to pay under protest. Upon final determination, Operator shall pay the taxes and the any interest, penaltiespenalty, and costs or cost accrued as a result of the such protest. In either event, Operator shall charge each Party its share of any amounts due, and each Party shall be responsible for reimbursing Operator for any such amounts paidshare.
Appears in 2 contracts
Samples: Offshore Operating Agreement (Ridgewood Energy L Fund LLC), Offshore Operating Agreement (Ridgewood Enengy K Fund LLC)
Contest of Property Tax Valuation. Operator shall timely and diligently protest to a final determination each tax any valuation it deems unreasonable. Pending such determination, Operator may elect to pay under protest. Upon final determination, Operator shall pay the taxes and the any interest, penaltiespenalty, and costs or cost accrued as a result of the such protest. In either event, Operator shall charge each Party its share of any amounts due, and in accordance with each Party shall be responsible for reimbursing Operator for any such amounts paidParty's Participating Interest.
Appears in 1 contract
Contest of Property Tax Valuation. Operator shall timely and diligently protest to a final determination each tax valuation it deems unreasonable. Pending such determination, Operator may elect to pay under protest. Upon final determination, Operator shall pay the taxes and the interest, interest penalties, and costs accrued as a result of the protest. In protest in either event, Operator shall charge each Party its share of any amounts due, and each Party shall be responsible for reimbursing Operator for any such amounts paid.share. MODEL FORM OF OFFSHORE OPERATING AGREEMENT
Appears in 1 contract
Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC)
