Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any previously filed tax appeals or protests applicable to any tax fiscal years prior to the tax fiscal year in which the Closing Date occurs. In the event an application to reduce real estate taxes is filed by Purchaser for the period during which Seller was the owner of the Real Property, Seller shall be entitled to a re-proration of real estate taxes upon receipt of and based upon the reduction proceedings, after payment of reasonable attorneys’ fees and other costs associated with such process. Notwithstanding the foregoing, in no event shall Seller negotiate or agree to any tax settlement, assessment or other adjustment that would have an adverse effect on taxes for 2015 or any subsequent year. After Closing, Purchaser, at Purchaser’s option, be entitled to take over and continue to process any pending appeals or protests with respect to the tax fiscal year in which the Closing Date occurs (and Seller shall reasonably cooperate in connection therewith), and the net proceeds from any such proceedings, after payment of reasonable attorneys’ fees and other costs associated with such process, will be prorated between the parties, when received, as of the Closing Date, which obligation shall survive the Closing; provided, however, that any such appeal or protest applicable to fiscal year 2015 may only be filed by Purchaser.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing Date occurs. In the event an application to reduce real estate taxes is filed by Purchaser for the period during which Seller was the owner of the Real Property, Seller shall be entitled to a reproration of real estate taxes upon receipt of and based upon the reduction, net of any costs incurred by Purchaser in obtaining such reduction. Seller shall continue to process any pending appeals or protests with respect to the tax fiscal year in which the Closing Date occurs, and the net proceeds from any such proceedings, after payment of attorneys’ fees and other costs associated with such process, will be prorated between the parties, when received, as of the Closing Date. The apportionment obligations in this Section 14.01(c) shall survive the Closing.
Tax Appeal Proceedings. Except as set forth on Schedule 6.1.14 attached hereto, Seller has not filed, and has not retained anyone to file, notices of protest against, or to commence actions to review real property tax assessments (“Tax Proceedings”) against the Real Property which are currently pending.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing Date occurs. In the event an application to reduce real estate taxes is filed for tax fiscal years prior to the Closing, Seller shall be entitled to a reproration of real estate taxes upon receipt of and based upon the reduction. Any pending appeals or protests with respect to the tax fiscal year in which the Closing Date occurs shall continue to be processed, and the net proceeds from any such proceedings, after payment of attorneys’ fees and other costs associated with such process, will be prorated between the parties, when received, as of the Closing Date. The apportionment obligations in this subsection shall survive the Closing. Tax fiscal years refer to the tax years for which taxes accrue, even if payable in a subsequent year.
Tax Appeal Proceedings. Other that set out in Section 6.1.6 of the Disclosure Letter, no Seller has filed, or retained anyone to file, notices of protest against, or to commence actions to review real property tax assessments (“Tax Proceedings”) against the Properties which are currently pending.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing occurs. In the event an application to reduce real estate taxes is filed for the period during which Seller was the owner of the Real Property, Seller shall be entitled to a reproration of real estate taxes upon receipt of and based upon the reduction. Seller shall continue to process any pending appeals or protests with respect to the tax fiscal year in which the Closing occurs, and the net proceeds from any such proceedings, after payment of attorneys’ fees and other costs associated with such process, will be prorated between the parties, when received, as of the Closing.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing Date occurs, net of its pro-rata share of the costs of obtaining such proceeds. In the event an application to reduce real estate taxes is filed for the period during which Seller was the owner of the Real Property, Seller shall be entitled to a reproration of real estate taxes upon receipt of and based upon the reduction.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing Date occurs. In the event an application to reduce real estate taxes is filed for the period during which Seller was the owner of the Real Property and such application results in a reduction of taxes, Seller shall be entitled to a reproration of real estate taxes upon receipt of and based upon the reduction. Purchaser shall pay its pro rata share of the reasonable attorneys’ fees directly related to the reduction as and when due. Seller shall continue to process any pending appeals or protests with respect to the tax fiscal year in which the Closing Date occurs, and the net proceeds from any such proceedings, after payment of reasonable attorneys’ fees, will be prorated between the parties, when received, as of the Closing Date.
Tax Appeal Proceedings. Seller shall be entitled to receive and retain the proceeds from any tax appeals or protests for tax fiscal years prior to the tax fiscal year in which the Closing Date occurs. In the event an application to reduce real estate taxes is filed for the period during which Seller was the owner of the Real Property, Seller shall be entitled to a re proration of real estate taxes upon receipt of and based upon the reduction. Seller shall continue to process any pending appeals or protests with respect to the tax fiscal year in which the Closing Date occurs (and Purchaser shall reasonably cooperate in connection therewith), and the net proceeds from any such proceedings, after payment of reasonable attorneys’ fees and other costs associated with such process, will be prorated between the parties, when received, as of the Closing Date, which obligation shall survive the Closing.
Tax Appeal Proceedings. Seller may be entitled to receive and retain the proceeds from any tax appeals or protests for taxes due and payable prior to the year in which the Closing Date occurs. After the date hereof, Seller shall not, without the prior consent of Buyer which consent may be withheld in Buyer’s sole discretion, commence any new real property tax appeals or protests or settle or compromise any ongoing tax appeals or protests, with respect to real property taxes due and payable for the tax year in which the Closing Date occurs or thereafter. The net proceeds from any proceedings for real property taxes due and payable in the tax year in which the Closing Date occurs, after payment of attorneys’ fees and other costs and any amounts payable to third parties including, but not limited to, legal fees and disbursements and consultant and expert witness fees, will be prorated, as of the Closing Date, between the Parties when received. Buyer and Seller shall each be entitled to prompt notice from the other Party concerning the initiation of any such proceeding after the date hereof and, except as otherwise hereinabove expressly set forth, neither Party shall settle any appeal or protest for any period, including the tax year in which the Closing occurs, without the prior consent of the other Party, which consent may not be unreasonably withheld or delayed. This Section 38 shall survive the Closing or termination of this Agreement.
