CURRENT YEAR TAXES. There shall be no proration of real estate taxes due in the calendar year of Closing. Seller shall pay all installments of current taxes with a delinquency date prior to the date of Closing (which amounts are includable in Seller's Project Investment) and Buyer shall pay all installments with a delinquency date on or after the date of Closing.
CURRENT YEAR TAXES. As between themselves only, Transferor and Transferee agree they shall divide the Property Taxes due and payable in the year of the transfer (“Current Year Taxes”) as follows: The amount of the Current Year Taxes that have already been paid is $ 0 , and the amount that remains to be paid (including any amount not yet due) is . Transferor and Transferee acknowledge that notwithstanding the agreement set forth in the previous sentence, that they are both potentially liable for payment of the Current Year Taxes.
CURRENT YEAR TAXES. The net income of the Company for the 1999 calendar year shall not be prorated as between the Sellers (on the one hand) and the Company or the Buyer (on the other hand), but shall be determined, for income tax purposes, based on the actual net income of the Company during that portion of 1999 through the Closing Date (as to which the Sellers shall be liable for the payment of all taxes payable thereon in accordance with their respective interests in the Shares) and that portion of 1999 subsequent to the Closing Date (as to which the Company shall be liable for the payment of all taxes payable thereon), with the Company having been deemed to have closed its books for such purposes on and as of the Closing Date. The Buyer and the Sellers shall cooperate with each other and shall share all necessary information required in order to make the foregoing calculations in a timely manner so as to enable each subject person to timely pay his, her or its taxes in respect of his, her or its share of the Company's 1999 net income.
