Tax Protests. Landlord shall pay all Tax Expenses when due and payable and prior to the time any penalty or interest may be charged in respect of the nonpayment thereof, and shall obtain receipted tax bills for such payments. Landlord may, however, petition for reduction of the assessed valuation of the Building and/or the Property, claim a refund of Tax Expenses or otherwise challenge the validity, amount or applicability of any tax, assessment or other similar governmental charge ("Tax Protest"). In addition to Landlord's right to pursue any such Tax Protest, Tenant shall have the right to participate in the Tax Protest and to provide Landlord written notice requesting that Landlord initiate a Tax Protest. If Landlord does not initiate within thirty (30) days after written request by Tenant and thereafter diligently pursue a Tax Protest, Tenant shall have the right to do so and Landlord shall reasonably cooperate with Tenant, at no out-of-pocket cost to Landlord, in any such proceedings as may reasonably be required to enable Tenant to prosecute the same effectively. Any reasonable out-of-pocket costs and expenses associated with such Tax Protest shall be includable in Tax Expenses and any refund of any tax, assessment or governmental charge received by Landlord pursuant to any Tax Protest (after any reimbursement of Landlord's and Tenant's reasonable costs if provided hereinabove) shall, to the extent of Tenant's Share thereof, be credited against the next installment of Tenant's Tax Expenses due hereunder. In the event that the refund is more than the next installment of Tenant's Tax Expenses due, the refund shall be applied to future installments of Tenant's Direct Expenses in the order of when they become due, or in the event there is any remaining unapplied refund upon expiration or termination of this Lease, Landlord shall remit such amount to Tenant within forty-five (45) days after expiration or termination of this Lease.
Tax Protests. Tenant shall have no right to institute or participate in any tax certiorari proceedings or other proceedings of a similar nature, it being understood that the commencement, maintenance, settlement, or conduct thereof shall be in the sole discretion of Landlord.
Tax Protests. Landlord shall pay all taxes, assessments and other governmental charges when due and payable and prior to the time any penalty or interest may be charged in respect of the nonpayment thereof, and shall obtain receipted tax bills for such payments. Landlord, may, however, petition for reduction of the assessed valuation of the Building and/or the Project, claim a refund of taxes or otherwise challenge the validity, amount or applicability of any tax, assessment or other similar governmental charge (“Tax Protest”). In addition to Landlord’s right to pursue any such Tax Protest, Tenant shall have the right to provide Landlord written notice requesting that Landlord initiate a Tax Protest, whereafter Landlord shall be obligated to initiate and pursue such Tax Protest. Any refund of any tax, assessment or governmental charge received by Landlord pursuant to any Tax Protest (after any reimbursement of Tenant’s costs if provided hereinabove) shall, to the extent of Tenant’s Pro-rata Share thereof, be credited against the next installments of Rent or Tenant’s High-Rise Operating Expenses, Low-Rise Operating Expenses or Revised Operating Expenses due hereunder.
Tax Protests. Should Landlord protest and win a reduction in the real estate taxes for the Building or Area, Tenant shall be obligated to pay its Prorata Share of the costs of such protest, including, without limitation, any fees paid if the protest is handled by a party other than Landlord.
Tax Protests. While proceedings for reduction in assessed valuations are pending, the computation and payment of Tax Payments shall be based upon the original assessments for the years in question. Tenant shall have no right to institute or participate in any tax proceedings or other proceedings of each similar nature. The commencement, maintenance, settlement and conduct thereof shall be in the sole discretion of owner.
Tax Protests. 18 2.6 Termination of Old Lease and ATM Agreement ..................18
Tax Protests. Tenant hereby waives any and all rights under applicable law to an administrative or judicial review of any determination of the appraised value of the Project, including without limitation, any rights available under the Texas Tax Code (as amended). At Tenant's request, provided Tenant can demonstrate to Landlord's reasonable satisfaction that the assessed valuation of the Project is higher than it should be and that Landlord has a reasonable possibility of success in obtaining a reduction in such assessed valuation, Landlord will institute and pursue a protest of the assessed value of the Project ("Tax Protest"). Any information Landlord makes available to Tenant in connection with any Tax Protest shall not be disclosed by Tenant to any third party without Landlord's consent and Tenant shall cooperate with Landlord to keep any such information from becoming discoverable by any applicable authorities in any Tax Protest except that Tenant may disclose such information to the extent legally required to do so. If Landlord is successful in connection with any such Tax Protest, Tenant shall receive its share of any such reduction after Landlord has been paid all costs and expenses incurred by Landlord. If Landlord is unsuccessful in connection with a Tax Protest initiated at Tenant's request, the expenses incurred by Landlord in connection with any such Tax Protest shall be Operating Expenses.
Tax Protests. (a) There are no currently pending material real estate tax appeals or proceedings affecting any of the Properties other than the Malibu Property, and (b) no Seller Party has received any written notice of any material real estate reassessments relating to any of the Properties. All tax parcels that affect each Property as of the Effective Date, and the amount of the most recent (from the Effective Date) tax year’s taxes with respect thereto, are scheduled on Schedule 11.1.26.
Tax Protests. Seller has not filed, and has not retained anyone to file, notices of protests against, or to commence any action to review, real property tax assessments against the Property.
Tax Protests. If Seller has engaged consultants for the purpose of protesting the amount of taxes or the assessed valuation for certain tax periods for the Property ("Protest Proceedings") any refunds or proceeds will be apportioned as described below. Any refunds or proceeds (including interest thereon) on account of a favorable determination, after deduction of costs and expenses incurred for such Protest Proceedings and payment of any reimbursements owing to tenants, shall be: (i) the property of Seller to the extent such refunds or proceeds were for taxes applicable to a period prior to the Closing Date, (ii) prorated between Buyer and Seller for taxes paid for a period during which the Closing Date occurred, and (iii) the Property of Buyer for taxes paid by Buyer for a period after the Closing Date. Seller shall have the obligation to refund to any tenants pursuant to the Leases, any portion of such refund paid to it which may be owing to such tenants, which payment shall be paid to Buyer within fifteen (15) days of delivery to Seller by Buyer of written confirmation of such tenants' entitlement to such refunds. Buyer shall have the obligation to refund to tenants such refund, any portion of such refund paid to it which may be owing to such tenants. Seller and Buyer agree to notify the other in writing of any receipt of a tax refund within ten (10) business days of receipt of such refund. To the extent either party obtains a refund, a portion of which is owed to the other party, the receiving party shall deliver the refund to the other party within fifteen (15) days of its receipt. No Protest Proceedings are currently in process.
