Tax Reduction. The Company shall, and shall cause each member of the Company Group to, take all steps reasonably necessary to receive a reduction in Taxes attributable to such deduction, loss or credit. Within twelve months of the end of each taxable year the Company shall provide New Xxxxxx with an accounting setting forth the utilization of the Section 3.06(b) Tax Reduction and the Company Tax Benefits.
Tax Reduction. In the event that either the Montana state severance tax or gross proceeds tax should be repealed or reduced below its current level, then amounts paid by Lessee under Section 8.2 shall be reduced accordingly. Further, an adjustment to royalty will be made in accord with Article 7. In addition, the parties shall have the rights provided herein below:
(1) Lessor may require Lessee to negotiate with Lessor on the amount of severance and/or gross proceeds taxes, if any, which Lessee will pay to the Lessor by giving Lessee notice of an intent to renegotiate this provision with respect to a severance tax and/or gross proceeds tax within ninety (90) days (unless otherwise agreed) after the effective date of the act of the Montana legislature or after action of any Montana political subdivision effecting such reduction.
(2) Unless otherwise agreed, negotiations shall commence within thirty (30) days after Lessee’s receipt of the Lessor’s notice of intent to renegotiate.
(3) Lessee’s obligation to pay a severance and/or a gross proceeds tax to Lessor under this Coal Lease shall be suspended during the period of renegotiation from the last day of the month in which the intent to renegotiate is received by Lessor. If tax rates are established by agreement as a result of renegotiation, then Lessee shall pay Lessor a tax or taxes based on those rates retroactive to the time of suspension of payment under this Coal Lease.
Tax Reduction. New Xxxxxx shall, and shall cause each member of the New Xxxxxx Group to, take all steps reasonably necessary to receive a reduction in Taxes attributable to such deduction, loss or credit. Within twelve months of the end of each taxable year New Xxxxxx shall provide the Company with an accounting setting forth the utilization of the Section 3.06
Tax Reduction. Landlord and Tenant acknowledge that Tenant is a governmental entity, and as such, may be entitled to pursue an exemption for certain Taxes which would otherwise be payable for the Premises. Tenant may, at Tenant’s sole cost and expense, elect to apply for an exemption from any Taxes otherwise payable hereunder based upon Tenant’s status as a governmental entity (a “Tax Exemption”) directly from the applicable taxing authority. Landlord will not be required to incur any costs in connection with Tenant’s application for any Tax Exemption. In the event Taxes are reduced as a result of a Tax Exemption, Tenant’s Proportionate Share of Taxes otherwise payable by Tenant pursuant to this Lease will be decreased by the amount of the reduction or credit in Taxes actually received by or credited to Landlord as a result of Tenant’s Tax Exemption. In the event Landlord receives a reimbursement of any Taxes previously paid by Tenant as a result of a Tax Exemption, Landlord will reimburse Tenant for the amount of such reimbursement or credit, up to the amount of Taxes previously paid by Tenant for the applicable tax year.
Tax Reduction. Only Landlord shall be eligible to institute tax ------------- reduction or other proceedings to reduce the assessed valuation of the land and buildings. Should Landlord be successful in any such reduction proceedings and obtain a rebate for periods during which Tenant has paid its share of increases, and provided that Tenant is not in default in payment of rent or additional rent due under this Lease, Landlord shall, after deducting its expenses, including, without limitation, attorneys' fees and disbursements in connection therewith, promptly return Tenant's pro rata share of such rebate after Landlord has received such proceeds. Tenant may not obtain any portion of the benefits which may accrue to Landlord from any reduction in Real Estate Taxes for any year below those imposed in the Base Tax Year.
Tax Reduction. New Morton shall, and shall cause each member of the New Morton Group to, take all steps reasonably necessarx xx xeceive a re- duction in Taxes attributable to such deduction, loss or
Tax Reduction. Landlord and Tenant acknowledge that during a portion of the Term, certain components of Taxes have been reduced or remain fixed at lower rates pursuant to agreements with applicable taxing authorities, and Tenant shall be entitled to the benefit of such reductions during the duration of any such reduction.
Tax Reduction. (i) If any taxing jurisdiction imposes after the Effective Date a new or expanded sales, value-added, withholding or other tax on the provision of the Services or any component thereof (a 'NEW TAX'), the parties will co-operate in attempting to reduce the amount of such New Tax, or to increase the recovery of such New Taxes paid by a party, to the maximum extent feasible as permitted by Applicable Law.
Tax Reduction. Only Landlord shall be eligible to institute tax reduction or other proceedings to reduce the assessed valuation of the land and buildings. Should Landlord be successful in any such reduction proceedings and obtain a rebate for periods during which Tenant has paid its share of increases, and provided that Tenant is not in default in payment of rent or additional rent due under this Lease, Landlord shall, after deducting its expenses, including, without limitation, attorneys' fees and disbursements in connection therewith, promptly return Tenant's pro rata share of such rebate after Landlord has received such proceeds.
Tax Reduction. AIAI and AFHI, on the one hand, and SRMI, on the other, shall take all commercially reasonable actions within their control to help reduce or alleviate any Taxes for which the other party (or any consolidated group of which it is a member) may be liable.
