Governmental Incentives. During the Investigation Period, Purchaser will apply for, attempt to obtain or seek new or existing governmental incentives, tax abatements, benefits, entitlements, approvals or permits related to Purchaser’s intended use of the Property, or which Purchaser otherwise deems necessary or desirable, in Purchaser’s sole discretion, in order to utilize the Property for Purchaser’s intended use (collectively, “Governmental Incentives”). Purchaser’s obligations under this Agreement to close on the purchase of the Property shall be expressly contingent on Purchaser’s receipt of all such Governmental Incentives, including, but not limited to, property tax abatements on the Property and personal property additions to the Property and other incentives from the city of Chattanooga and Hxxxxxxx County, and grants, credits, and other incentives from the state of Tennessee and its Department of Economic and Community Development (“TN ECD”), and the Tennessee Valley Authority (“TVA”), all on terms satisfactory to Purchaser in its sole discretion. Seller agrees that, during the term of this Agreement, Seller will reasonably cooperate with (and will not oppose), any applications that Purchaser, at its sole expense, desires to submit to any governmental authorities in connection with obtaining any such Governmental Incentives or information in furtherance of Purchaser’s intended use of the Property. If, at any time during the Investigation Period, Purchaser determines that it cannot obtain the Governmental Incentives on terms and conditions acceptable to Purchaser, in Purchaser’s sole discretion, then Purchaser shall have the right to (i) terminate this Agreement in accordance with Section 5 below, or (ii) in addition to Purchaser’s extension rights under Section 4(a), unilaterally extend the Investigation Period until 11:59 p.m. on June 10, 2021 (“Investigation Period Extension”) upon notice to Seller (“Investigation Period Extension Notice”), said Investigation Period Extension Notice to be given to Seller prior to the expiration of the Investigation Period and to specify which of the Governmental Incentives have not been obtained.
Governmental Incentives. W-P shall use its best efforts to provide W-N with assistance in obtaining favorable treatment from federal, state or local agencies including, without limitation, favorable tax treatment and training grants.
Governmental Incentives. Landlord, at Tenant’s expense, shall cooperate in all reasonable respects with Tenant’s efforts to obtain any available governmental and quasi-governmental benefits, incentives or entitlements; provided, that (i) such efforts shall not result in any detriment to Landlord or other tenants or occupants of the Project and (ii) Tenant shall, within 30 days after receipt of each of Landlord’s invoices therefor, reimburse Landlord for the out-of-pocket costs incurred by Landlord in connection with such cooperation. In no event shall Landlord have any liability, nor shall Tenant’s obligations under this Lease be affected, in the event that Tenant shall not obtain any particular governmental or quasi-governmental benefits, incentives or entitlements.
Governmental Incentives. Landlord shall, at no cost to Landlord, reasonably cooperate with Tenant in Tenant’s efforts to negotiate, implement and receive the benefits of an incentive package, or other grants or designations, with various governmental authorities, provided that such cooperation shall not include any modification to this Lease. Any and all fees, costs and expenses imposed by any applicable governmental authority shall be borne solely by Tenant, and Tenant shall reimburse Landlord within thirty (30) days following Landlord’s demand therefor, for any and all out-of-pocket fees, costs and expenses actually incurred by Landlord in connection with Tenant’s requests and Landlord’s cooperation pursuant to this Paragraph 50, including, without limitation, reasonable attorney, consultant and professional fees. Notwithstanding anything to the contrary set forth in this Lease, any benefits obtained by Tenant (or on behalf of Tenant) at Tenant’s sole expense from any governmental authority pursuant to this Paragraph 50 that relate solely to the Premises shall be solely for the benefit of Tenant, and to the extent that any such benefits are granted to Landlord and relate solely to the Premises, Landlord shall promptly assign (or pay) the same to Tenant.
Governmental Incentives. (a) There is not now and there has not been at any time any Governmental Incentive that both (i) applied to or affected any Intel Transferred Asset, Intel Transferred Entity or Intel Assigned Entity transferred by Intel under the Intel ATA or the Intel Entity Capitalization and Assignment Agreement, and (ii) now requires or required at any time during the Pre-Closing Tax Period Intel or any Subsidiaries of Intel to comply with the terms, conditions and other requirements thereof in order for the Governmental Incentive to apply to or affect the Company or any of its Subsidiaries. 4917039.19
(b) There is not now and there has not been at any time any Governmental Incentive that both (i) applied to or affected any ST Transferred Asset, ST Transferred Entity or ST Assigned Entity transferred by ST under the ST ACA or the ST Entity Capitalization and Assignment Agreement, and (ii) now requires or required at any time during the Pre-Closing Tax Period ST or any Subsidiaries of ST to comply with the terms, conditions and other requirements thereof in order for the Governmental Incentive to apply to or affect the Company or any of its Subsidiaries.
Governmental Incentives. 15 SECTION 6.07
Governmental Incentives. 34.1 It is mutually acknowledged that Tenant may negotiate with Xxxxxxxxxx County and/or the State of Maryland for certain tax reductions (the “Tax Reductions”) by application of the provisions of Sections 52-69 through 52-79 of the Xxxxxxxxxx County Code (1998 L.M.C., ch. 9, Section 1) and Section 9-230 of the State of Maryland Tax-property Article which are intended to benefit office tenants in the State of Maryland and Xxxxxxxxxx County. Landlord and Tenant mutually agree that the economic benefit of any such Tax Reductions related to Tenant’s occupancy of the Premises shall accrue solely to Tenant. Landlord agrees that on the date that Landlord actually obtains the benefit of any such Tax Reductions resulting directly from the application of the laws described herein to Tenant’s business operations in the Building, Landlord, at Landlord’s election, either shall pay Tenant the amount of the Tax Reductions or shall direct Tenant to deduct the amount of the Tax Reductions from its next estimated payment or payments of Base Rent and Additional Rent due under this Lease. In the event Landlord fails to timely notify Tenant of Landlord’s election as described in the preceding sentence, Tenant may deduct the amount of such Tax Reductions from its next payments or estimated payments of Base Rent and Additional Rent due under this Lease. It is expressly agreed that in order to avoid duplication of the benefit to Tenant resulting from the Tax Reductions, the computation of Real Estate Taxes set forth in Article IV, shall be made without regard to the Tax Reductions (i.
Governmental Incentives. Except for any real estate tax related incentives, abatements, or refunds (which shall be shared by Landlord and Tenant on a prorata basis determined by Tenant’s Share), Tenant shall be entitled to 100% of the benefit of any governmental incentives or approvals obtained by Tenant in connection with its use and occupancy of the Premises for the uses permitted under this Lease from any federal, state, or local unit of government.
Governmental Incentives. Landlord and Tenant agree to cooperate with each other and use commercially reasonable efforts to seek to obtain any Governmental Incentives for the Project. Such cooperation and efforts shall include, without limitation, gathering information required by any applications and submissions for any Governmental Incentives, submitting and executing any required applications and documentation in order to obtain such Governmental Incentives and pursuing the issuance of any such Governmental Incentive from the applicable Governmental Authority. If any Governmental Incentive is obtained for the Project, Tenant shall have the right to allocate such Governmental Incentives to the costs of the TI Work and/or the Base Project Work. With respect to those Governmental Incentives that contain specific restrictions or allocation requirements, the amount of such Governmental Incentives shall be allocated in accordance with the terms and restrictions governing such Governmental Incentive. The amount of any Governmental Incentive applied to the cost of the Base Project Work shall lower, on a dollar for dollar basis, the Project Costs.
Governmental Incentives. Landlord shall cooperate in all reasonable respects (including, without limitation, joining in and promptly executing any applications or other documentation that Tenant submits to an applicable governmental entity in connection with Tenant’s seeking to obtain and/or retain benefits, incentives or entitlements under a particular program, provided that applicable program requires Landlord to join in any such application or documentation) with Tenant’s efforts to obtain and/or retain any available governmental and quasi-governmental benefits, incentives or entitlements; provided, that (i) such efforts shall not result in any detriment to Landlord or other then-existing tenants or occupants of the Project and (ii) Tenant shall, within 30 days after receipt of each of Landlord’s invoices therefor, reimburse Landlord for the reasonable Actual Costs incurred by Landlord in connection with such cooperation. In no event shall Landlord have any liability, nor shall Tenant’s obligations under this Lease be affected, in the event that Tenant shall not obtain any particular governmental or quasi-governmental benefits, incentives or entitlements.
