Common use of Method of Claiming Credits Clause in Contracts

Method of Claiming Credits. If the Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Company shall give the governing body of the Affected Taxing Jurisdiction and the Agency prior written notice of its intention to claim any credit pursuant to the provision of this Section 2.3, said notice to be given by the Company at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction desires to contest the Company’s right to claim such credit, then said governing body, the Agency and the Company shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B) hereof, which arbitrators shall, at the sole cost and expense of the Company, determine whether the Company is entitled to claim any credit pursuant to the provisions of this Section 2.3 and, if so, the amount of the credit to which the Company is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Company or to determine a lower or higher credit. When the Company shall have given notice, as provided herein, that is claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the Company, but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.3) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Company shall, to the extent withheld as aforesaid, be immediately due and payable and shall be paid by the Company within thirty (30) days of said decision.

Method of Claiming Credits. If the Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Company shall give the governing body of the Affected affected Taxing Jurisdiction Entity and the Agency prior written notice of its intention to claim any credit pursuant to the provision of this Section 2.32.03, said notice to be given by the Company at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I2.02(G) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction Entity desires to contest the Company’s right to claim such credit, then said governing body, the Agency and the Company shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B2.02(9) hereof, which arbitrators shall, at the sole cost and expense of the Company, determine whether the Company is entitled to claim any credit pursuant to the provisions of this Section 2.3 2.03 and, if so, the amount of the credit to which the Company is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Company or to determine a lower or higher credit. When the Company shall have given notice, as provided herein, that is it claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the Company, but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.32.03) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Company shall, to the extent withheld as aforesaid, be immediately due and payable and shall be paid by the Company within thirty (30) days of said decision.

Method of Claiming Credits. If the Real Estate Holding Company or the Operating Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Real Estate Holding Company or the Operating Company shall give the governing body of the Affected affected Taxing Jurisdiction Entity and the Agency prior written notice of its intention to claim any credit pursuant to the provision provisions of this Section 2.32.03, said notice to be given by the Real Estate Holding Company or the Operating Company (as applicable) at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I2.02(F) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction Entity desires to contest the Real Estate Holding Company’s or the Operating Company’s (as applicable) right to claim such credit, then said governing body, the Agency and the Real Estate Holding Company or the Operating Company’s (as applicable) shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B) hereof, which arbitrators shall, at the sole cost and expense of the Real Estate Holding Company or the Operating Company, determine whether the Real Estate Holding Company or the Operating Company (as applicable) is entitled to claim any credit pursuant to the provisions of this Section 2.3 2.03 and, if so, the amount of the credit to which the Real Estate Holding Company or the Operating Company (as applicable) is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Real Estate Holding Company or the Operating Company (as applicable) or to determine a lower or higher credit. When the Real Estate Holding Company or the Operating Company (as applicable) shall have given notice, as provided herein, that is it claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the CompanyReal Estate Holding Company or the Operating Company (as applicable), but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.32.03) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Real Estate Holding Company or the Operating Company (as applicable) shall, to the extent withheld as aforesaid, be immediately due and payable payable, together with interest thereon from the date such payment in lieu of tax was originally due, at the rate of eighteen percent (18%) per annum, and such amount and shall be paid by the Real Estate Holding Company or the Operating Company (as applicable) within thirty (30) days of said decision.

Method of Claiming Credits. If the Company or the Operating Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Company or the Operating Company shall give the governing body of the Affected affected Taxing Jurisdiction Entity and the Agency prior written notice of its intention to claim any credit pursuant to the provision provisions of this Section 2.32.03, said notice to be given by the Company or the Operating Company (as applicable) at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I2.02(F) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction Entity desires to contest the Company’s or the Operating Company’s (as applicable) right to claim such credit, then said governing body, the Agency and the Company or the Operating Company’s (as applicable) shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B) hereof, which arbitrators shall, at the sole cost and expense of the Companythe, determine whether the Company or the Operating Company (as applicable) is entitled to claim any credit pursuant to the provisions of this Section 2.3 2.03 and, if so, the amount of the credit to which the Company or the Operating Company (as applicable) is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Company or the Operating Company (as applicable) or to determine a lower or higher credit. When the Company or the Operating Company (as applicable) shall have given notice, as provided herein, that is it claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the CompanyCompany or the Operating Company (as applicable), but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.32.03) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Company or the Operating Company (as applicable) shall, to the extent withheld as aforesaid, be immediately due and payable payable, together with interest thereon from the date such payment in lieu of tax was originally due, at the rate of eighteen percent (18%) per annum, and such amount and shall be paid by the Company or the Operating Company (as applicable) within thirty (30) days of said decision.

Method of Claiming Credits. If the Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Company shall give the governing body of the Affected Taxing Jurisdiction and the Agency prior written notice of its intention to claim any credit pursuant to the provision of this Section 2.3, said notice to be given by the Company at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction desires to contest the Company’s right to claim such credit, then said governing body, the Agency and the Company shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B) hereof, which arbitrators shall, at the sole cost and expense of the Company, determine whether the Company is entitled to claim any credit pursuant to the provisions of this Section 2.3 and, if so, the amount of the credit to which the Company is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Company or to determine a lower or higher credit. When the Company shall have given notice, as provided herein, that is it claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the Company, but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.3) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Company shall, to the extent withheld as aforesaid, be immediately due and payable and shall be paid by the Company within thirty (30) days of said decision.

Method of Claiming Credits. If the Real Estate Owner or the Operating Company desires to claim a credit against any particular payment in lieu of tax due hereunder, the Real Estate Owner or the Operating Company shall give the governing body of the Affected affected Taxing Jurisdiction Entity and the Agency prior written notice of its intention to claim any credit pursuant to the provision provisions of this Section 2.32.03, said notice to be given by the Real Estate Owner or the Operating Company (as applicable) at least thirty (30) days prior to the date on which such payment in lieu of tax is due pursuant to the provisions of Section 2.2(I2.02(F) hereof. In the event that the governing body of the appropriate Affected Taxing Jurisdiction Entity desires to contest the Real Estate Owner’s or the Operating Company’s (as applicable) right to claim such credit, then said governing body, the Agency Agency, and the Real Estate Owner or the Operating Company (as applicable) shall each select an arbitrator in accordance with the rules of the American Arbitration Association, each of whom shall meet the qualifications set forth in Section 2.2(B) hereof, which arbitrators shall, at the sole cost and expense of the Companythe, determine whether the Real Estate Owner or the Operating Company (as applicable) is entitled to claim any credit pursuant to the provisions of this Section 2.3 2.03 and, if so, the amount of the credit to which the Real Estate Owner or the Operating Company (as applicable) is entitled. It is understood that the arbitrators are empowered to confirm the amount of the credit claimed by the Real Estate Owner or the Operating Company (as applicable) or to determine a lower or higher credit. When the Real Estate Owner or the Operating Company (as applicable) shall have given notice, as provided herein, that is he/it claims a credit, the amount of any payment in lieu of property taxes due hereunder against which the credit may be claimed may be withheld (to the extent of the credit claimed by the CompanyReal Estate Owner or the Operating Company (as applicable), but only to the extent that such credit may be claimed against said payment in lieu of taxes pursuant to the provisions of this Section 2.32.03) until the decision of the arbitrators is rendered. After the decision of the arbitrators is rendered, the payment in lieu of taxes due with respect to any reduction or disallowance by the arbitrators in the amount of the credit claimed by the Real Estate Owner or the Operating Company shall(as applicable)shall, to the extent withheld as aforesaid, be immediately due and payable payable, together with interest thereon from the date such payment in lieu of tax was originally due, at the rate of eighteen percent (18%) per annum, and such amount and shall be paid by the Real Estate Owner or the Operating Company (as applicable) within thirty (30) days of said decision.