TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax bill for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax bill available to the closing agent. The succeeding year’s tax bill, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax bill available to the closing agent.
TAXES & ASSESSMENTS. The real estate taxes shall be prorated. Seller shall pay real estate taxes which are payable during the year in which Closing occurs, and taxes payable during the succeeding year, prorated to the date of Closing. Buyer shall assume and pay all subsequent taxes. If at the time of closing the tax xxxx for the Real Estate for the succeeding year has not been issued, taxes payable shall be computed based on the last tax xxxx available to the closing agent. The succeeding year’s tax xxxx, because of recently constructed improvements, annexation, reassessment, or similar items may greatly exceed the last tax xxxx available to the closing agent.
TAXES & ASSESSMENTS. Such Borrower has paid or discharged, or caused to be paid or discharged, before the same shall have become delinquent, all taxes, assessments and governmental charges levied or imposed upon such Borrower or any Subsidiary of such Borrower or upon the income, profits or property of such Borrower or any Subsidiary of such Borrower, other than (i) such taxes, assessments and governmental charges the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves have been established, or (ii) up to $10,000,000 at any time in aggregate taxes, assessments, and governmental charges so long as no material adverse effect upon the business, financial condition or results of operations of the Borrowers and their Subsidiaries, taken as a whole, would reasonably be expected to result therefrom, and so long as, upon knowledge thereof, the applicable Borrower or Subsidiary either promptly pays the applicable delinquent amount or contests such amount as contemplated above.
TAXES & ASSESSMENTS. Such Borrower has paid or discharged, or caused to be paid or discharged, before the same shall have become delinquent, all taxes, assessments and governmental charges levied or imposed upon such the Borrower or any Subsidiary of such Borrower or upon the income, profits or property of such Borrower or any Subsidiary of such Borrower, other than such taxes, assessments and governmental charges the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves have been established.
TAXES & ASSESSMENTS. Generally, Charter School shall pay any assessment or fee imposed upon or levied on the LAUSD facilities that it is occupying or Charter School’s legal or equitable interest created by the use agreement.
TAXES & ASSESSMENTS. There are no unpaid or outstanding real estate or ----------------- other taxes or assessments on or against any Property or Improvements or any part thereof, except general real estate taxes not yet due or payable. Copies of the current general real estate tax bills with respect to each Property and the Improvements thereon have been delivered to Lender. Said bills cover the entire Project and do not cover or apply to any other property. Borrower has not received notice of any pending or contemplated action pursuant to which any special assessment may be levied against any portion of the Project.
TAXES & ASSESSMENTS. The Golf Pro agrees to timely pay all taxes, assessments, or other public charges levied or assessed by lawful authority (but reasonably preserving the Golf Pro's right of appeal) against the personal property of the Golf Pro on the premises during the term of this Agreement. In addition, the Golf Pro agrees to pay any and all sales tax that may be levied on any of the services of this Agreement.
TAXES & ASSESSMENTS. Tenant shall pay and discharge, not later than the last day upon which the same may be paid without interest or penalty, all taxes, assessments, levies, fees, water and sewer rents and other governmental and similar charges, general and special, ordinary or extraordinary, and any interest and penalties thereon, which are levied or assessed and become due and payable with respect to the Term of this Lease, whether or not the same become payable during the Term of this Lease (including all of the taxes, assessments, levies, fees, water and sewer rents and other governmental charges for the year in which this Lease is executed which are now a lien but not yet due and payable) against (i) Landlord and which relate to Landlord’s ownership of the Leased Property, the use and occupancy of the Leased Property or the transactions contemplated by this Lease, (ii) Landlord’s mortgagee and which are imposed in respect of Landlord’s mortgagee’s interest in the Leased Property, the use and occupancy of the Leased Property or the transactions contemplated by this Lease, (iii) the Leased Property or the interest of Tenant or Landlord therein, (iv) Basic Rent, Additional Rent or any other amount payable by Tenant hereunder, (v) this Lease or the interest of Tenant or Landlord hereunder, (vi) the use, occupancy, construction, repair or rebuilding of the Leased Property or any portion thereof, or (vii) gross receipts from the Leased Property. If any tax or assessment levied or assessed against the Leased Property may legally be paid in installments, Tenant shall have the option to pay such tax or assessment in installments. Nothing in this Lease shall require payment by Tenant of any franchise, estate, inheritance, succession, transfer, net income or profits taxes of Landlord or Landlord’s mortgagee, unless such tax is in lieu of or a substitute for any other tax or assessment upon or with respect to the Leased Property, which, if such other tax or assessment were in effect, would be payable by Tenant hereunder. Tenant shall furnish to Landlord, promptly, and in any event within sixty (60) days after payment thereof, at Landlord’s request, proof of the payment of any such tax, assessment, levy, fee, rent or charge which is payable by Tenant, subject to Tenant’s right to contest such charges pursuant to Article 7(d) hereof. Such taxes, assessments, levies, fees, water and sewer rents and other governmental charges shall be apportioned between Landlord and Tenant as of the dat...
TAXES & ASSESSMENTS. All taxes, governmental assessments, water, sewer, and municipal charges which previously became due and owing have been paid, or, where applicable law allows, an escrow of funds has been established in an amount sufficient to pay for such item that remains unpaid; except for any such charges for which Seller and/or Servicer have, after due consideration, made a determination not to pay for, in accordance with their current practice and have been disclosed in writing to Buyer.
TAXES & ASSESSMENTS. 6.1. Except as otherwise provided in this Section 6, all property taxes, assessments, water and sewer rents, utility charges, and other expenses and revenues, if any, arising out of or relating to the Purchased Assets will be apportioned and adjusted as of midnight preceding the Closing. Buyer and Seller hereby agree to cooperate fully, following the Closing, in the distribution of any such expense(s) and/or revenue(s), the amount of which is unknown as of the Closing Date.
6.2. That portion of real estate, personal property, and other ad valorem taxes assessed for all years prior to 1999 against the Purchased Assets shall be the responsibility of Seller. That portion of real estate, personal property, and other ad valorem taxes assessed for the year 1999 against the Purchased Assets which is payable by Seller shall be prorated between the parties to the Closing Date, with Seller being responsible for the prorated portion of such taxes up to the Closing Date, and Buyer being responsible for its prorated portion of such taxes on the Closing Date and thereafter. In the event such taxes are payable in arrears, Seller will pay Buyer, at Closing, Seller's estimated proportionate share of 1999 real estate, personal property, and ad valorem taxes, such estimate being based on the latest assessment and Buyer shall be responsible for payment of all such taxes for the 1999 tax year. Upon payment thereof, necessary corrections to the estimated 1999 amount paid at Closing by Seller will be paid promptly by the appropriate party to the other party. In the event that such taxes are payable in advance, Buyer will reimburse to Seller, at Closing, the amount of such prepaid taxes which is attributable to the period on and after the Closing Date.
6.3. Buyer shall pay at Closing: (a) all recording fees; (b) all survey fees; (c) fifty percent (50%) of any and all Title Company (as defined herein) escrow agent fees and (d) fifty (50%) of the Title Company's cost of preparing the Title Commitment and any updates thereto;
6.4. Seller shall pay at Closing: (a) fifty percent (50%) of any and all Title Company escrow agent fees; and (b) fifty (50%) of the Title Company's cost of preparing the Title Commitment and any updates thereto.
