Right to Challenge Valuation and/or PILOT Computation Sample Clauses

Right to Challenge Valuation and/or PILOT Computation. In the event that either the City or the County or Lessee believes: (i) that the PILOTs have been calculated incorrectly, or (ii) that the amount of the PILOTs does not accurately reflect the intent of the parties set forth in this Article IV; or (iii) that the Project (or any part of the Project) has not been valued correctly for the purpose of calculating the PILOTs, then the City and/or the County and/or Lessee shall be entitled to challenge the correctness of the PILOT payments set forth in Section 4.1, as it may be amended from time to time. Any challenge made by the City shall be made in writing to Lessor and shall be signed by the Mayor of the City, with copies to Lessee and the County. Any challenge made by the County shall be made in writing to Lessor and shall be signed by the County Executive, with copies to Lessee and the City. Any challenge made by Lessee shall be made in writing to Lessor and shall be signed by an authorized representative of Lessee, with copies to the Mayor of the City and the County Executive. Making such challenge shall trigger the procedures and remedies set forth in this Section 4.4, so that upon receipt of written notice of challenge, Lessor shall request the Assessor to value the Project (or the part of the Project being challenged), and the merits of the challenge shall be determined as set forth in this Section 4.4.
Sample 1
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Related to Right to Challenge Valuation and/or PILOT Computation

  • Portfolio Valuation and Diversification Etc Risk Factor Ratings;

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • Assistance with Valuation The Sub-Adviser will provide reasonable assistance to the Adviser and the Custodian, Administrator or similar party designated by the Adviser in assessing the fair value of securities or other instruments held in the Allocated Portion for which market quotations are not readily available or for which the Adviser or the Board has otherwise determined to fair value such portfolio holdings.

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  • CONTRIBUTION IN THE EVENT OF JOINT LIABILITY (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

  • Waiver of Inventory, Accounting and Appraisal Requirement The Trustee shall be relieved of, and each Certificateholder hereby waives, any requirement of any jurisdiction in which the Trust, or any part thereof, may be located that the Trustee file any inventory, accounting or appraisal of the Trust with any court, agency or body at any time or in any manner whatsoever.

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