PROPERTY TAX APPEALS. At the direction of, and with the approval of, the Owner, Pinnacle shall engage a tax appeal professional to annually review the tax assessment for possible abatement.
PROPERTY TAX APPEALS. At the direction of, and with the approval of the Owner, Manager shall engage a tax appeal professional to annually review the tax assessment for the Property in order to determine whether to appeal such assessment and request an abatement.
PROPERTY TAX APPEALS. Seller may file and/or prosecute an application for the reduction of the assessed valuation of the Property or any portion thereof for real estate taxes or a refund of real estate taxes previously paid to the State of California and/or to Ventura County, the City of Camarillo or any other local Governmental Authority (i) for any fiscal period prior to the fiscal year in which the Closing shall occur without the prior consent of Purchaser, and (ii) for the fiscal year in which the Closing shall occur, provided Purchaser shall have consented with respect thereto, which consent shall not be unreasonably withheld or delayed. The amount of any tax refunds (net of attorneys’ fees and other costs of obtaining such tax refunds) with respect to any portion of the Property for the tax year in which the Closing occurs shall be apportioned between Seller and Purchaser as of the Closing with a prior allocation of the portion thereof that must be returned to Lessee pursuant to the terms of the Leases; Seller hereby agreeing to be responsible for the return of such refund to such tenants or licensees for the period up to and including the Closing and Purchaser having such obligation for the return of such refunds attributable to the period after the Closing. If, in lieu of a tax refund, a tax credit is received with respect to any portion of the Property for the tax year in which the Closing occurs, then with a prior allocation of the portion thereof which must be returned to Lessee pursuant to the terms of the Leases in the same manner as set forth above, (x) the tax credit apportionment shall be readjusted between Seller and Purchaser within thirty (30) days after receipt by Seller or Purchaser, as the case may be, of evidence of the actual amount of such tax credit (net of attorneys’ fees and other costs of obtaining such tax credit), and (y) upon realization by Purchaser of a tax savings on account of such credit, Purchaser shall pay to Seller an amount equal to the savings realized (as apportioned). The provisions of this paragraph shall survive the Closing.
PROPERTY TAX APPEALS. The Owner may direct the Property Manager to appeal the property taxes on the property to the county tax assessor. The Property Manager is hereby authorized to charge $150.00 to prepare the appeal documents and shall be entitled to 40% of any reduction for the year appealed.
PROPERTY TAX APPEALS. From and following the Effective Date and until the Closing Date, each Seller, as applicable, shall, or shall cause the applicable Company Subsidiary to diligently pursue the prosecution, settlement or compromise of the applicable Seller Tax Appeals. From and following the Closing Date, each Seller and Buyer (at their own cost) shall cooperate in good faith to pursue the prosecution, settlement or compromise of each of the Seller Tax Appeals, and: (i) the Sellers shall be entitled to the economic benefits associated with resolution of such Seller Tax Appeals for the period prior to September 1, 2019; and (ii) the Buyer shall be entitled to the economic benefits associated with resolution of such Seller Tax Appeals for the period from and after September 1, 2019.
PROPERTY TAX APPEALS. Seller shall continue to control property tax appeals, if any, currently in progress involving the Property relating to tax years prior to the current year (“Pending Tax Appeals”), and Seller shall remain responsible for any and all fees, costs or commissions relating to such Pending Tax Appeals. Any real estate tax refunds or rebates which apply to tax years prior to 2017 shall remain the property of Seller except to the extent required to be paid to Tenant pursuant to the terms of the Leases. Purchaser agrees to remit to Seller any rebates resulting from such appeals and received by Purchaser for periods prior to the Closing. Any rebates or refunds resulting from such Pending Tax Appeals shall first be used to reimburse Seller for the out-of-pocket attorneys’ fees and other collection costs actually incurred or payable by Seller in obtaining such tax rebates or refunds, and then shall be handled in accordance with and pursuant to the Leases. Any such rebates or refunds that are not required to be delivered to the tenants pursuant to the Leases, if any, shall be prorated between Seller and Purchaser as of the Closing Date. The provisions of this section shall survive the Closing.
PROPERTY TAX APPEALS. Except as otherwise set forth on Exhibit Q, there are no pending ad valorem property tax appeals that have been filed by Seller or its affiliates with respect to the Property.
PROPERTY TAX APPEALS. At the direction of, and with the approval of, Owner, Manager shall engage a tax appeal professional, the cost of such professional to be at Owner's expense, to annually review the tax assessment for the Property in order to determine whether to appeal such assessment and request an abatement.
PROPERTY TAX APPEALS. Seller has filed a property tax appeal for the tax fiscal year 2010/2011, and has retained counsel (“Tax Counsel”) to prosecute the appeal. Buyer shall assume the prosecution of such proceedings and the contract with Tax Counsel and shall pay all legal, accounting and other expenses which may be incurred in connection with such appeal. If such determination shall result in a refund or credit with respect to the tax year in which the Closing occurs, then the net amount of such refund or credit (after paying therefrom pro rata all Buyer’s costs including attorney’s fees in connection with such proceedings and any refunds or credits owed to Tenant under the Lease and paying all amounts due to Tenant) shall be apportioned between Seller and Buyer based upon the Closing Date, and any amount due to Seller shall be promptly paid by Buyer. The provisions of this paragraph shall survive Closing.
PROPERTY TAX APPEALS. Except as otherwise set forth on Schedule 8.1.1.18, there are no pending ad valorem property tax appeals that have been filed by Seller or its Affiliates with respect to the Property.
