Common use of Tax Abatement Clause in Contracts

Tax Abatement. The City hereby agrees to xxxxx the Excise Tax as provided herein in the amount set forth in Section 3 for the Property, provided that the terms and conditions set forth herein are timely met. Upon satisfactory timely completion of the Project Schedule and Scope of Work as set out in Section 2 and in accordance with other requirements of this Agreement, the City will issue a letter confirming the permanent abatement of the Excise Tax, which shall be in recordable form as shown in Exhibit B.

Tax Abatement. The City hereby agrees to xxxxx the Excise Tax as provided herein in the amount set forth in Section 3 for the Property, provided that the terms and conditions set forth herein are timely met. Upon satisfactory timely completion of the Project Schedule and Scope of Work as set out in Section 2 and in accordance with other requirements of this Agreement, the City will issue a letter confirming the 11-7-2013 / revised 9-27-2016 Standard Format permanent abatement of the Excise Tax, which shall be in recordable form as shown in Exhibit B.