Common use of Prosecution and Settlement of Proceedings Clause in Contracts

Prosecution and Settlement of Proceedings. If any tax reduction proceedings in respect of the Real Property, relating to any fiscal years ending prior to the fiscal year in which the Closing occurs are pending at the time of the Closing, Sellers reserve and shall have the right to continue to prosecute and/or settle the same. Prior to the Closing, Sellers reserve and shall have the right to initiate and continue any tax reduction proceedings in respect of the Real Property relating to the fiscal year in which the Closing occurs; provided, however, that Sellers shall not settle any such proceeding without Buyer’s prior written consent, which consent shall not be unreasonably withheld or delayed. From and after the Closing, Buyer shall have the right to initiate or assume tax reduction proceedings in respect of the Real Property relating to the fiscal year in which the Closing occurs and shall have the right to continue to prosecute and/or settle the same. Sellers and Buyer shall, from time to time, each keep the other reasonably informed of the status of any such tax reduction proceedings.

Prosecution and Settlement of Proceedings. If any tax reduction proceedings in respect of the Real Property, relating to any fiscal tax years ending prior to the fiscal tax year in which the Closing occurs are pending at the time of the Closing, Sellers reserve Seller reserves and shall have the right to continue to prosecute and/or settle the same. Prior to the Closing, Sellers reserve Seller reserves and shall have the right to initiate and continue any tax reduction proceedings in respect of any of the Real Property relating to the fiscal tax year in which the Closing occurs; provided, however, that Sellers Seller shall not settle any such proceeding without BuyerPurchaser’s prior written consent, which consent shall not be unreasonably withheld or delayed. From and after the Closing, Buyer Purchaser shall have the right to initiate or assume tax reduction proceedings in respect of the Real Property relating to the fiscal tax year in which the Closing occurs and shall have the right to continue to prosecute and/or settle the same. Sellers Seller and Buyer Purchaser shall, from time to time, each keep the other reasonably informed of the status of any such tax reduction proceedings.

Prosecution and Settlement of Proceedings. If any tax reduction proceedings in respect of the Real Property, relating to any fiscal tax years ending prior to the fiscal tax year in which the Closing occurs are pending at the time of the Closing, the Sellers reserve and shall have the right to continue to prosecute and/or settle the same. Prior to the Closing, the Sellers reserve and shall have the right to initiate and continue any tax reduction proceedings in respect of any of the Real Property relating to the fiscal tax year in which the Closing occurs; provided, however, that the Sellers shall not settle any such proceeding without BuyerPurchaser’s prior written consent, which consent shall not be unreasonably withheld or delayed. From and after the Closing, Buyer Purchaser shall have the right to initiate or assume tax reduction proceedings in respect of the Real Property relating to the fiscal tax year in which the Closing occurs and shall have the right to continue to prosecute and/or settle the same. The Sellers and Buyer Purchaser shall, from time to time, each keep the other reasonably informed of the status of any such tax reduction proceedings.