Common use of Targeted Tax Clause in Contracts

Targeted Tax. In the event that the State of Nevada, the County, the Authority or any other Governmental Authority controlled by some, all or any of those entities imposes a Targeted Tax at any point during the Non-Relocation Term, TeamCo or the Team, as applicable, shall be relieved of all obligations due from TeamCo or the Team to the Authority under this Agreement, if and only if TeamCo provides Notice to the Authority of its intent to relocate the Team within thirty-six (36) months after the passage and approval or assessment of any Targeted Tax, and the Team ceases to play its NFL Home Games at the Stadium within thirty-six (36) months after providing such Notice. Notwithstanding the foregoing, if StadCo, TeamCo, or the Team is permitted to and chooses to contest the imposition of the Targeted Tax (with or without payment of the Targeted Tax prior to the contest), then solely for purposes of the preceding sentence the Targeted Tax shall not be deemed to have been passed and approved or assessed unless and until some or all of the Targeted Tax is upheld by a final, non-appealable decision of the court or agency with jurisdiction over the contest.

Targeted Tax. In the event that the State of Nevada, the County, the Authority or any other Governmental Authority controlled by some, all or any of those entities imposes a Targeted Tax at any point during the Non-Relocation Term, TeamCo or the Team, as applicable, shall be relieved of all obligations due from TeamCo or the Team to the Authority under this Agreement, if and only if TeamCo provides Notice to the Authority of its intent to relocate the Team within thirty-six (36) months after the passage and approval or assessment of any Targeted Tax, and the Team ceases to play its NFL Home Games at the Stadium within thirty-thirty- six (36) months after providing such Notice. Notwithstanding the foregoing, if StadCo, TeamCo, or the Team is permitted to and chooses to contest the imposition of the Targeted Tax (with or without payment of the Targeted Tax prior to the contest), then solely for purposes of the preceding sentence the Targeted Tax shall not be deemed to have been passed and approved or assessed unless and until some or all of the Targeted Tax is upheld by a final, non-appealable decision of the court or agency with jurisdiction over the contest.