Common use of Protection of Tax Exempt Status of the Project Clause in Contracts

Protection of Tax Exempt Status of the Project. In order to insure that the Project is not and will not become subject to ad valorem property taxes under the laws of the State or any political subdivision thereof, the Parties covenant that: (a) all right and privileges granted to any Party under this Fee Agreement or any other Documents shall be exercised so that if any conflict between this Section and any other provision in any other document shall arise, then in that case, this Section shall control; and (b) the Parties have not knowingly committed or permitted and will not knowingly commit or permit (as to any act over which they have control) any act which would cause the Project to be subject to ad valorem property taxes by the County or political subdivision of the State in which any part of the Project is located, subject to any mandatory or optional termination rights expressly set forth herein.

Protection of Tax Exempt Status of the Project. In order to insure that the Project is not and will not become subject to ad valorem property taxes under the laws of the State or any political subdivision thereof, the Parties County and the Company covenant that: (a) all right rights and privileges granted to any Party either party under this Fee Agreement or any other Documents shall be exercised so that if any conflict between this Section 6.1 and any other provision in any other document shall arise, then in that case, this Section 6.1 shall control; and; (b) the Parties County and the Company have not knowingly committed or permitted and will not knowingly commit or permit (as to any act over which they have either has control) any act which would cause the Project to be subject to ad valorem property taxes by the County or other political subdivision of the State in which any part of the Project is located, subject to any mandatory or optional termination rights expressly set forth herein; and (c) the Company will maintain the identity of the Project as a “project” in accordance with the Act.