Reduction in Taxes Sample Clauses

Reduction in Taxes. Nothing in this Agreement is intended to hinder or impair the rights of Developer to seek reduction in market value or property taxes on any portion of the Development Property under any State law (referred to as a “Tax Appeal”); provided, however, that prior to the Termination Date, the Developer agrees it will not seek reduction in the assessed market value of the Minimum Improvements for property tax purposes below $100 per square foot (exclusive of land value). This minimum assessed market value does not apply to property assessed prior to the construction commencement of the Minimum Improvements. The Developer shall notify the City and the County within 10 days of filing any Tax Appeal. If as of any Payment Date, any Tax Appeal is then pending, the City and the County will withhold payments of Tax Abatement attributable to the tax payment that is the subject of the Tax Appeal. The City and the County will pay any withheld amount to the extent not reduced as a result of the Tax Appeal, without interest, promptly after the Tax Appeal is fully resolved and the amount of Tax Abatement attributable to the disputed tax payments is finalized. (The remainder of this page is intentionally left blank.)
Sample 1
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Reduction in Taxes. (a) Only Landlord shall be eligible to institute tax reduction or other proceedings to contest or reduce the assessed valuation of (or all or any portion of the Taxes applicable to) the Taxable Property. In the event that, after a Tax Statement has been sent to Tenant, the Tax Base is reduced (as a result of settlement, final determination of legal proceedings or otherwise), and as a result thereof a refund of Taxes is actually received by or on behalf of Landlord, then, promptly after receipt of such refund, Landlord shall send Tenant a revised Tax Statement adjusting the Tax Base and Tenant's Tax Payment for such Tax Year (taking into account the expenses actually incurred in obtaining same and setting forth Tenant's Share of such refund).
Sample 1
Reduction in Taxes. Landlord shall use commercially reasonable efforts to seek, pursuant to Section 51 of the California Revenue and Taxation Code, a reduction in Taxes for any Expense Year, if (a) Tenant, within sixty (60) days after receiving the Statement for such Expense Year, requests that Landlord do so, and (b) Landlord reasonably determines that doing so would be consistent with prudent management practices. If, upon receiving such a request from Tenant, Landlord determines that it would not be consistent with prudent management practices to seek such a reduction, Landlord shall promptly notify Tenant of such determination, in which event (i) Tenant, at its expense, after ten (10) business days’ notice to Landlord, may seek such a reduction by action or proceeding against the applicable taxing authority; (ii) Landlord shall reasonably cooperate with Tenant in connection with any such action or proceeding; provided, however, that Landlord shall not be required to join in any such action or proceeding unless such action or proceeding must, under applicable Law, be brought by or in the name of Landlord, in which event Landlord shall join in such action or proceeding or permit it to be brought in Landlord’s name and Tenant shall indemnify, defend, protect, and hold the Landlord Parties (defined in Section 10.1) harmless from and against any liability, cost or expense in connection with such action or proceeding; and (iii) Tenant shall continue, during the pendency of such action or proceeding or action, to pay the Taxes due under Section 4.4.1.
Sample 1

Related to Reduction in Taxes

  • 01 Taxes 46 3.02 Illegality.........................................................47 3.03

  • Foreign Taxes Any amounts payable hereunder, other than payments of interest, principal or premium, if any, in respect of any of the Securities, to an Underwriter shall be made free and clear of and without withholding or deduction for or on account of any and all taxes, levies, imposts, duties, charges or fees of whatsoever nature now or hereafter imposed, levied, collected, deducted or withheld or assessed by or on behalf of Australia or any political subdivision thereof or by any jurisdiction, other than the United States or any taxing authority or political subdivision thereof, in which the Bank has a branch, an office or any agency from which payment is made (a “Taxing Authority”), excluding (i) any such tax which would not have been imposed if such Underwriter had no present or former connection with any such jurisdiction other than the performance of its obligations hereunder, (ii) any income or franchise tax imposed on the net income of such Underwriter by any jurisdiction of which such Underwriter is a resident, citizen or domiciliary, or in which such Underwriter is engaged in business and (iii) any tax imposed that would not have been imposed but for the failure by such Underwriter to comply with any certification, identification or other reporting requirements concerning the nationality, residence, identity or connection with any Taxing Authority if compliance is required by such Taxing Authority as a pre-condition to exemption from, or reduction in rate of, such tax (all such non-excluded taxes, the “Foreign Taxes”). If, by operation of law or otherwise, that portion of amounts payable hereunder represented by Foreign Taxes withheld or deducted cannot be paid or remitted, then amounts payable under this Agreement shall be increased to such amounts as are necessary to yield and remit to such Underwriter amounts which, after deduction of all Foreign Taxes (including all Foreign Taxes payable on such increased payments) equal the amounts that would have been payable if no Foreign Taxes had been so withheld or deducted (the “Additional Amount”); provided, however, that no Additional Amount with respect to any payment or compensation to such Underwriter hereunder shall be required to be paid in the event that such payment or compensation is subject to such Foreign Tax by reason of such Underwriter being connected with the jurisdiction of the Taxing Authority other than by reason of merely receiving payment hereunder.

  • Distribution Taxes If any Parent Tax Proceeding relating to Distribution Taxes is reasonably likely to give rise to an indemnity obligation of the Acquiror as successor to SpinCo or the JV Group under Section 12 hereof, Acquiror and Parent shall exercise joint control over the disposition of such Parent Tax Proceeding (and, for the avoidance of doubt, shall keep each other informed of all material developments with respect to such Parent Tax Proceeding to the extent the other party is not otherwise informed thereof). Parent shall otherwise have the right to elect to control any Parent Tax Proceeding relating to Distribution Taxes; provided that Parent shall keep Acquiror informed of all material developments.

  • U.S. Taxes (a) The Company agrees to pay to each Lender that is not a U.S. Person such additional amounts as are necessary in order that the net payment of any amount due to such non-U.S. Person hereunder after deduction for or withholding in respect of any U.S. Taxes imposed with respect to such payment (or in lieu thereof, payment of such U.S. Taxes by such non-U.S. Person), will not be less than the amount stated herein to be then due and payable, provided that the foregoing obligation to pay such additional amounts shall not apply:

  • Certain Taxes All transfer, documentary, sales, use, stamp, registration and other such Taxes incurred in connection with this Agreement shall be paid by Sellers when due, and Sellers will, at their own expense, file all necessary Tax returns and other documentation with respect to all such transfer, documentary, sales, use, stamp, registration and other Taxes and fees, and, if required by applicable law, Buyer will join in the execution of any such Tax Returns and other documentation.

  • Current Taxes Adequate provisions have been made for taxes payable for the current period for which tax returns are not yet required to be filed and there are no agreements, waivers, or other arrangements providing for an extension of time with respect to the filing of any tax return by, or payment of, any tax, governmental charge or deficiency by the Company. The Vendors are not aware of any contingent tax liabilities or any grounds which would prompt a reassessment including aggressive treatment of income and expenses in filing earlier tax returns; The Company- Applicable Laws and Legal Matters

  • Allocation of Straddle Period Taxes In the case of any Straddle Period:

  • Transfer Taxes On the Closing Date, all stock transfer or other taxes (other than income or similar taxes) which are required to be paid in connection with the issuance, sale and transfer of the Securities to be sold to each Buyer hereunder will be, or will have been, fully paid or provided for by the Company, and all laws imposing such taxes will be or will have been complied with.

  • Income Taxes Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * EXHIBIT G-2 FORM OF TRANSFEROR CERTIFICATE __________ , 20__ Residential Funding Mortgage Securities I, Inc. 8400 Normandale Xxxx Xxxxxxxxx Xxxxx 000 Xxxxxxxxxxx, Xxxxxxxxx 00000 [Trustee] Attention: Residential Funding Corporation Series _______ Re: Mortgage Pass-Through Certificates, Series ________, Class R[-__] Ladies and Gentlemen: This letter is delivered to you in connection with the transfer by _____________________ (the "Seller") to _____________________(the "Purchaser") of $______________ Initial Certificate Principal Balance of Mortgage Pass-Through Certificates, Series ________, Class R[-__] (the "Certificates"), pursuant to Section 5.02 of the Series Supplement, dated as of ________________, to the Standard Terms of Pooling and Servicing Agreement dated as of ________________ (together, the "Pooling and Servicing Agreement") among Residential Funding Mortgage Securities I, Inc., as seller (the "Company"), Residential Funding Corporation, as master servicer, and __________, as trustee (the "Trustee"). All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that:

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