Common use of Taxes Payable by Company Clause in Contracts

Taxes Payable by Company. The Company shall pay all taxes, rates, levies, and assessments that may be assessed or levied in respect of any and all machinery, equipment, structures and works placed by the Company in, on, over or under the Leased Area. In the event that any such taxes, rates, levies and assessments are not separately levied but form part of the levy or assessment for the Lands, then the Lessor, acting reasonably, shall be entitled to allocate such portion of the levy or assessment for the Lands as is reasonably allocable to such machinery, equipment, structures, and works.

Taxes Payable by Company. The Company shall pay all taxes, rates, levies, and assessments that may be assessed or levied in respect of any and all machinery, equipment, structures and works placed by the Company in, on, over or under the Leased Area. In the event that any such taxes, rates, levies and assessments are not separately levied but form part of the levy or assessment for the Lands, then the Lessor, acting Initial Grantor Agent reasonably, shall be entitled to allocate such portion of the levy or assessment for the Lands as is reasonably allocable to such machinery, equipment, structures, and works.