Common use of Liens, Taxes, Other Governmental Charges and Utility Charges Clause in Contracts

Liens, Taxes, Other Governmental Charges and Utility Charges. Lessee shall keep the Equipment under each Lease free of all levies, liens, and encumbrances except those created by such Lease. The parties to this Agreement contemplate that the Equipment under each Lease will be used for a governmental or proprietary purpose of Lessee and that the Equipment will therefore be exempt from all property taxes. If the lease, sale, purchase, operation, use, possession or acquisition of any Equipment is nevertheless determined to be subject to taxation, Lessee shall pay when due all taxes and governmental charges lawfully assessed or levied against or with respect to such Equipment. Lessee shall pay all utility and other charges incurred in the operation, use and maintenance of the Equipment. Lessee shall pay such taxes, assessments or charges as the same may become due; provided that, with respect to any such taxes, assessments or charges that may lawfully be paid in installments over a period of years, Lessee shall be obligated to pay only such installments as accrue during the Lease Term under the affected Lease. During the Lease Term under each Lease, Lessor will not claim ownership of the Equipment thereunder for the purposes of any tax credits, benefits or deductions with respect to such Equipment.

Appears in 3 contracts

Samples: Master Equipment Lease/Purchase Agreement, Master Equipment Lease/Purchase Agreement, Master Equipment Lease/Purchase Agreement

AutoNDA by SimpleDocs

Liens, Taxes, Other Governmental Charges and Utility Charges. Lessee shall keep the Equipment under each Lease free of all levies, liens, and encumbrances except those created by under such Lease. The parties to this Agreement contemplate that the Equipment under each Lease will be used for a governmental or proprietary purpose of Lessee and that the Equipment will therefore be exempt from all property taxes. If the lease, sale, purchase, operation, use, possession or acquisition of any Equipment is nevertheless determined to be subject to taxation, Lessee shall pay when due all taxes and governmental charges lawfully assessed or levied against or with respect to such Equipment. Lessee shall pay all utility and other charges incurred in the operation, use and maintenance of the Equipment. Lessee shall pay such taxes, assessments taxes or charges as the same may become due; provided that, with respect to any such taxes, assessments taxes or charges that may lawfully be paid in installments over a period of years, Lessee shall be obligated to pay only such installments as accrue during the Lease Term under the affected applicable Lease. During the Lease Term under each Lease, Lessor will not claim ownership of the Equipment thereunder for the purposes of any tax credits, benefits or deductions with respect to such the Equipment.

Appears in 2 contracts

Samples: Master Equipment Lease/Purchase Agreement, Master Equipment Lease/Purchase Agreement

AutoNDA by SimpleDocs

Liens, Taxes, Other Governmental Charges and Utility Charges. Lessee shall keep the Equipment under each Lease free of all levies, liensLiens, and encumbrances except those created by such Leasethis Agreement. The parties to this Agreement contemplate that the Equipment under each Lease will be used for a governmental or proprietary purpose of Lessee and that the Equipment will therefore be exempt from all property taxes. If the leaseuse, possession, sale, purchase, operation, use, possession transfer or acquisition of any Equipment is nevertheless determined to be subject to taxation, Lessee shall pay when due all taxes taxes, special assessments and other charges (governmental charges or otherwise) of any kind that are at any time lawfully assessed or levied against or with respect to such the Equipment, the Rental Payments or any part of either thereof, or which become due during the Lease Term, whether assessed against Lessee or Lessor. Lessee shall pay all utility and other charges incurred in the operation, use and maintenance of the Equipment. Lessee shall pay such taxes, assessments or charges as the same may become due; provided that, with respect to any such taxes, assessments or charges that may lawfully be paid in installments over a period of years, Lessee shall be obligated to pay only such installments as accrue during the Lease Term under the affected LeaseTerm. During the Lease Term under each Lease, Lessor will not claim ownership of the Equipment thereunder under this Agreement for the purposes of any tax credits, benefits or deductions with respect to such Equipment.

Appears in 2 contracts

Samples: Tax Exempt Equipment Lease/Purchase Agreement, Tax Exempt Equipment Lease/Purchase Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.