Proration of Personal Property Taxes. All personal property taxes and similar ad valorem obligations levied with respect to the ---------- Purchased Assets for a taxable period which includes (but does not end on) the date preceding the Closing Date (collectively, the "Apportioned Obligations"), shall be apportioned between Sellers and Purchaser based on the number of days of such taxable period included in the Pre-Closing Tax Period and the number of days of such taxable period after the Closing Date (with respect to any such taxable period, the "Post-Closing Tax Period"). Sellers shall be liable for the proportionate amount of such taxes that is attributable to the Pre-Closing Tax Period, and Purchaser shall be liable for the proportionate amount of such taxes that is attributable to the Post-Closing Tax Period. The aggregate amount of Apportioned Obligations shall be calculated by Sellers and presented to Purchaser prior to or on the Closing Date. Sellers shall calculate such amount (i) for Apportioned Obligations for which the tax liens for the Year which includes the Closing Date (the "Closing Year") have attached before the Closing Date, based on such liens, (ii) for Apportioned Obligations for which the tax liens for the Closing Year have not attached before the Closing Date, based on tax liens for the year immediately preceding the Closing Year.
Proration of Personal Property Taxes. Seller shall pay any and all personal property taxes through the Closing Date. Buyer shall timely render the property for taxation purposes. Personal property taxes shall be prorated through the date of Closing. Seller shall reimburse Buyer for that portion of the year during which Seller owned said property until the date this transaction shall close.
Proration of Personal Property Taxes. All personal property taxes applicable to the Acquired Assets shall be prorated as of the Closing. Each of Buyer and Seller shall be responsible for its portion of all such prorated expenses, and Buyer and Seller agree to cooperate in the settlement of such prorations.
Proration of Personal Property Taxes. Personal property Taxes and assessments on the Purchased Assets shall be prorated between the Buyer and the Seller as of the Closing Date. All such prorations shall be allocated so that items relating to time periods ending on or prior to the Closing Date shall be allocated to the Seller and items relating to time periods beginning after the Closing Date shall be allocated to the Buyer. The amount of all such prorations shall be settled and paid on the Closing Date, provided that final payments with respect to prorations that are not able to be calculated as of the Closing Date shall be calculated and paid as soon as practicable thereafter.
Proration of Personal Property Taxes. Personal property taxes associated with the Acquired Assets that are imposed on a periodic basis and are payable for a tax period that includes (but does not end on) the Closing Date shall be prorated as of the Closing Date, and Seller shall bear the proportion, and shall have the sole responsibility of, such taxes (and any payments due on account of such taxes) equal to a fraction, the numerator of which is equal to the number of days which shall have elapsed from the beginning of the applicable tax period to and including the Closing Date and the denominator of which is the number of days in the entire applicable tax period. Purchaser shall have the sole responsibility for the remainder of such taxes (and any payments due on account of such taxes). If the tax statement or appropriate information for such tax period is not in the possession of the Seller on the Closing Date, the tax proration payment shall be made by Seller to Purchaser at Closing based on a reasonable estimate taking into account the prior period’s taxes and any publicly announced tax rate increase or decrease or change in the law governing such taxes, and Purchaser shall pay such taxes for such period when due, and any adjustments shall be made as soon thereafter as the tax statement or appropriate information is received.
Proration of Personal Property Taxes. Personal property taxes shall be prorated between Rocky Mountain Power and Buyer as of the Transfer Date based upon days of ownership in the tax year in which the Transfer Date occurs. If for such year, Rocky Mountain Power has not previously paid such personal property taxes, Buyer shall pay such property taxes when due, and Buyer shall be solely liable for any penalty or interest owing as a result of an untimely property tax payment by Buyer, and Rocky Mountain Power shall pay to Buyer Rocky Mountain Power's pro rata share of property taxes paid by Buyer. If for such year, Rocky Mountain Power has previously paid such personal property taxes, Buyer shall pay to Rocky Mountain Power Buyer's pro rata share of property taxes paid by Rocky Mountain Power.
Proration of Personal Property Taxes. Seller shall prorate personal ------------------------------------ property taxes between Seller and Buyer as of the date that the Transaction closes.
Proration of Personal Property Taxes. Any personal property ad valorem taxes and assessments on the Assets for any taxable period commencing prior to the Closing Date and ending after the Closing Date shall be prorated between Buyer and Seller as of the Closing Date. All such prorations shall be allocated so that items relating to time periods ending on the Closing Date shall be allocated to Seller based upon the number of days in the period prior to and including the Closing Date and items related to time periods beginning after the Closing Date shall be allocated to Buyer based on the number of days in the period after the Closing Date. The amount of all such prorations shall be settled and paid on the Closing Date, provided that final payments with respect to prorations that are not able to be calculated on the Closing Date shall be calculated and paid as soon as practicable thereafter.
Proration of Personal Property Taxes. Seller shall provide to Buyer a list of personal property that is being transferred to Buyer pursuant to this Agreement (the "Business Property Listing for 1998") upon which the local taxing authority based its assessment of personal property taxes that became a lien against such personal property on or after January 1, 1998. Personal property taxes that have become a lien against the personal property but which are not yet due and payable shall be prorated between Buyer and Seller on the basis of a 365-day calendar year using as an estimated tax rate the tax rate applied to such property in 1997. Such taxes shall be deemed to accrue proportionately throughout the calendar year in which such taxes first become due and payable. Seller shall be responsible for that portion of such taxes that has become a lien against the personal property and accrued on or before the Closing Date. Buyer shall be responsible for that portion of such taxes that has become a lien against the personal property but will accrue after the Closing Date. Buyer shall pay all such taxes when the same become due and shall receive credit at the Closing for the amount for which Seller assumes responsibility pursuant to this Section, which credit shall reduce the Purchase Price. Following the issuance of the 1998 bills for personal property taxes, the parties shall reconcile the estimated and actual tax rates and the party who underpaid its share shall promptly reimburse the amount underpaid to the other party.
Proration of Personal Property Taxes. Personal property taxes, if any, for 1998 shall be prorated based on 1997 personal property taxes. Seller shall be responsible for personal property taxes accruing prior to and including the Closing Date.
