Common use of Tax Liability; Separate Tax Parcel Clause in Contracts

Tax Liability; Separate Tax Parcel. Borrower and Operating Lessee have filed all required federal, state, county and municipal tax returns and has paid all taxes and assessments owed and payable, and neither Borrower nor Operating Lessee has any knowledge of any basis for any additional payment with respect to any such taxes and assessments. No portion of any Property is exempt from taxation or constitutes an “omitted” tax parcel. The Property constitutes a separate tax lot or lots, with a separate tax assessment or assessments, independent of any other land or improvements not constituting a part of the Property and no other land or improvements is assessed and taxed together with any portion of the Property.

Appears in 2 contracts

Samples: Loan Agreement (Strategic Hotels & Resorts, Inc), Loan Agreement (Strategic Hotels & Resorts, Inc)

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Tax Liability; Separate Tax Parcel. Each of Borrower and Operating Lessee have has filed all required federal, state, county and municipal tax returns and has paid all taxes and assessments owed and payable, and neither Borrower nor Borrower, Operating Lessee nor Guarantor has any knowledge of any basis for any additional payment with respect to any such taxes and assessments. No portion of any the Property is exempt from taxation or constitutes an “omitted” tax parcel. The Property constitutes a separate tax lot or lots, with a separate tax assessment or assessments, independent of any other land or improvements not constituting a part of the Property and no other land or improvements is assessed and taxed together with any portion of the Property.

Appears in 2 contracts

Samples: Loan Agreement (KBS Strategic Opportunity REIT II, Inc.), Loan Agreement (KBS Strategic Opportunity REIT II, Inc.)

Tax Liability; Separate Tax Parcel. Each Borrower and each Operating Lessee have has filed all required federal, state, county and municipal tax returns and has paid all taxes and assessments owed and payable, and neither no Borrower nor and no Operating Lessee has any knowledge of any basis for any additional payment with respect to any such taxes and assessments. No portion of any Property is exempt from taxation or constitutes an “omitted” tax parcel. The Each Property constitutes a separate tax lot or lots, with a separate tax assessment or assessments, independent of any other land or improvements not constituting a part of the Property and no other land or improvements is assessed and taxed together with any portion of the either Property.

Appears in 1 contract

Samples: Loan Agreement (Chesapeake Lodging Trust)

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Tax Liability; Separate Tax Parcel. Borrower and Operating Lessee have filed all required federal, state, county and municipal tax returns and has have paid all taxes and assessments owed and payable, and neither Borrower nor Operating Lessee has any knowledge of any basis for any additional payment with respect to any such taxes and assessments. No portion of any the Property is exempt from taxation or constitutes an “omitted” tax parcel. The Property constitutes a separate tax lot or lots, with a separate tax assessment or assessments, independent of any other land or improvements not constituting a part of the Property and no other land or improvements is assessed and taxed together with any portion of the Property.

Appears in 1 contract

Samples: Loan Agreement (Chesapeake Lodging Trust)

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