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. 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. 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. There is no pending or contemplated action pursuant to which any special assessment may be levied against any portion of the Project.
TAXES & ASSESSMENTS. Real and personal property taxes, assessments and all other public or governmental charges (including charges, assessments, liens or encumbrances for sewer, water, drainage or other public improvements completed or commenced on or prior to the date of Closing) which have been paid or are due and payable for any time period in which both Seller and Purchaser shall have title to the Hotel shall be adjusted and apportioned as of the Apportionment Time. If the exact amount of taxes is not known at Closing, the proration will be based on the prior year’s taxes and shall be adjusted directly between Seller and Purchaser once actual figures become available after Closing. Where a tax appeal for any of the items described in the first sentence hereof is pending at Closing by Seller, a subsequent adjustment will be made between Seller and Purchaser based upon a re-proration of real estate taxes in accordance with the results of such appeal and all costs and fees incurred in connection with such appeal, including the costs and fees of any person or company retained by Seller to appeal such taxes and assessments, shall also be prorated between Purchaser and Seller. If Purchaser chooses to pursue any tax appeal that is not pending at Closing, then Purchaser shall bear all the costs and receive any benefits relating to any such appeal. Seller shall be responsible for all of its federal state and local income and franchise taxes, all sales or use tax (if any), employment taxes, payroll taxes, occupancy or entertainment taxes, ad valorem taxes, liquor taxes and all sales, revenue and excise tax (and any surtax, interest and penalties thereon) and similar taxes (collectively, “Sales Tax”) for the Hotel relating to periods before the Closing Date. Purchaser and Seller shall each pay 50% of any Sales Tax applicable to the transaction contemplated by this Agreement. Seller shall use commercially reasonable efforts to deliver to Purchaser, within ninety (90) days of the Closing, a tax clearance certificate from the Texas Comptroller of Public Accounts stating that all Sales Tax required to be paid by Seller under this Section 10.2.8 has been paid and that no amount is due for periods prior to the Closing Date. Seller will file in a timely manner any Texas sales and use tax returns or other documents required of it and shall cause all Sales Tax due and payable for the period prior to the Closing Date or with respect to the transactions contemplated under this Agreement to be p...
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. 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. All non-delinquent real estate taxes and assessments on the Property shall be prorated as of 11:59 p.m. on the day prior to the Close of Escrow based on the most recent information available from the assessor's office. All delinquent taxes, bonds and assessments, if any, on the Property shall be paid at the Close of Escrow from funds accruing to Seller. All supplemental taxes billed after the Close of Escrow for periods prior to the Close of Escrow shall be paid promptly by Seller to Buyer in immediately available funds.
