Common use of Tax Protest Clause in Contracts

Tax Protest. In the event a taxpayer other than Rackspace timely and properly protests or contests the taxation and/or the Taxable Value of a property in the Annexed Area, the obligation of the City to provide Grant(s) shall not be abated, but if any protest or motion with the Bexar Appraisal District results in a final determination that changes the Taxable Value or tax liability after a Grant has been paid for such Tax Year, the Grant for such Tax Year shall be adjusted (increased or decreased as the case may be) accordingly on the following Grant payment date. If there are no further Grants to be paid, then the Party owed an adjustment shall be paid directly by the other Party. Rackspace shall notify the City in writing in the event of a protest or contest by Rackspace, and the obligation of the City to provide Grant(s) shall be abated hereunder until a final determination has been made of such protest or contest and the Expiration Date shall automatically be extended during the abatement, if necessary.

Tax Protest. In the event a taxpayer other than Rackspace timely and properly protests or contests the taxation and/or the Taxable Value of a property in the Annexed Area, the obligation of the City County to provide Grant(s) shall not be abatedabated hereunder, but if any protest or motion with the Bexar Appraisal District results in a final determination that changes the Taxable Value or tax liability after a Grant has been paid for such Tax Year, the Grant for such Tax Year shall be adjusted (increased or decreased as the case may be) accordingly on the following Grant payment date. If there are no further Grants to be paid, then the Party owed an adjustment shall be paid directly by the other Party. Rackspace shall notify the City County in writing in the event of a protest or contest by Rackspace, and the obligation of the City County to provide Grant(s) shall be abated hereunder until a final determination has been made of such protest or contest and the Expiration Date shall automatically be extended during the abatement, if necessary.