Common use of Tax Refunds and Proceedings Clause in Contracts

Tax Refunds and Proceedings. Buyer shall have the exclusive right to commence or continue any proceeding to determine the assessed value of the Property, the real or personal property taxes payable with respect to the Property or any action to contest water charges, sewer charges, sales tax or use tax for the relevant taxable period during which the Proration Time occurs and to settle or compromise any claim thereof, and any refunds or proceeds resulting from such proceedings along with the costs (including reasonable legal and accounting fees) incurred by Buyer in obtaining the same, shall be prorated as of the Proration Time. In prosecuting any such action, Buyer shall utilize the services of Marvxx Xxxx & Xo. Seller shall retain the right to continue, commence, prosecute, settle or compromise any proceedings relating exclusively to any relevant taxable period or periods prior to the period during which the Proration Time shall occur. Buyer and Seller agree to cooperate with each other and to execute any and all documents reasonably requested in furtherance of the foregoing. The provisions of Section 5.6 shall survive the Closing.

Tax Refunds and Proceedings. Buyer shall have the exclusive right to commence or continue any proceeding to determine the assessed value of the Property, the real or personal property taxes payable with respect to the Property or any action to contest water charges, sewer charges, sales tax or use tax for the relevant taxable period during which the Proration Time occurs and to settle or compromise any claim thereof, and any refunds or proceeds resulting from such proceedings along with the costs (including reasonable legal and accounting fees) incurred by Buyer in obtaining the same, shall be prorated as of the Proration Time. In prosecuting any such action, Buyer shall utilize the services of Marvxx Xxxx & Xo. Seller shall retain the right to continue, commence, prosecute, settle or compromise any proceedings relating exclusively to any relevant taxable period or periods prior to the period during which the Proration Time shall occur. Buyer and Seller agree to cooperate with each other and to execute any and all documents reasonably requested in furtherance of the foregoing. The provisions of Section SECTION 5.6 shall survive the Closing.