Common use of EFFECT OF PROPERTY VALUE APPEAL OR OTHER ADJUSTMENT Clause in Contracts

EFFECT OF PROPERTY VALUE APPEAL OR OTHER ADJUSTMENT. If the Applicant has appealed any matter relating to the valuations placed by the Appraisal District on the Applicant’s Qualified Property, and such appeal remains unresolved at the time the Third Party selected under Section 4.3 makes its calculations under this Agreement, the Third Party shall base its calculations upon the final, prior year values placed upon the Applicant’s Qualified Property by the Appraisal District. The calculations shall be readjusted, if necessary, based on the outcome of the appeal as set forth below. If as a result of an appeal or for any other reason, the Taxable Value of the Applicant’s Qualified Investment is changed, once the determination of the new Taxable Value becomes final, the Parties shall immediately notify the Third Party who shall immediately issue new calculations for the applicable year or years using the new Taxable Value. In the event the new calculations result in a change in any amount paid or payable by the Applicant under this Agreement, the Party from whom the adjustment is payable shall remit such amount to the other Party within thirty (30) days of the receipt of the new calculations from the Third Party.

EFFECT OF PROPERTY VALUE APPEAL OR OTHER ADJUSTMENT. If at the time the Third Party selected under Section 3.4 makes its calculations under this Agreement, the Applicant has appealed any matter relating to the valuations placed by the Appraisal District on the Applicant’s Qualified PropertyInvestment, and/or the Applicant’s Qualified Property and such appeal remains unresolved at the time the Third Party selected under Section 4.3 makes its calculations under this Agreementunresolved, the Third Party shall base its calculations upon the final, prior year values placed upon the Applicant’s Qualified Investment and/or the Applicant’s Qualified Property by the Appraisal District. The calculations shall be readjusted, if necessary, based on the outcome of the appeal as set forth below. If as a result of an appeal or for any other reason, the Taxable Value of the Applicant’s Qualified Investment and/or the Applicant’s Qualified Property is changed, once the determination of the new Taxable Value becomes final, the Parties shall immediately notify the Third Party who shall immediately issue new calculations for the applicable year or years using the new Taxable Value. In the event the new calculations result in a change in any amount paid or payable by the Applicant under this Agreement, the Party from whom the adjustment is payable shall remit such amount amounts to the other Party within thirty (30) days of the receipt of the new calculations from the Third Party.

EFFECT OF PROPERTY VALUE APPEAL OR OTHER ADJUSTMENT. If at the time the Third Party selected under Section 4.6 makes its calculations under this Agreement, the Applicant has appealed any matter relating to the valuations placed by the Appraisal District on the Applicant’s Qualified Property, and/or the Applicant’s Qualified Property and such appeal remains unresolved at the time the Third Party selected under Section 4.3 makes its calculations under this Agreementunresolved, the Third Party shall base its calculations upon the final, prior year values placed upon the Applicant’s Qualified Property and/or the Applicant’s Qualified Property by the Appraisal District. The calculations shall be readjusted, if necessary, based on the outcome of the appeal as set forth below. If as a result of an appeal or for any other reason, the Taxable Value of the Applicant’s Qualified Investment and/or the Applicant’s Qualified Property is changed, once the determination of the new Taxable Value becomes final, the Parties shall immediately notify the Third Party who shall immediately issue new calculations for the applicable year or years using the new Taxable Value. In the event the new calculations result in a change in any amount paid or payable by the Applicant under this Agreement, the Party from whom the adjustment is payable shall remit such amount amounts to the other Party within thirty (30) days of the receipt of the new calculations from the Third Party.