Common use of Annual PILOT Clause in Contracts

Annual PILOT. In lieu of the general ad valorem real property taxes and, if applicable, ad valorem personal property taxes (collectively, the "Ad Valorem Taxes") for the Project for the taxable years 2014 through and including 2023 (excepting special assessments levied on account of special benefits and excepting all other amounts referenced in Section 6 below), CN Associates or the Company shall pay by separate check to the Treasurer of ▇▇▇▇▇▇▇ County, Kansas, or other appropriate officer, an amount which is equal to fifty percent (50%) of the Ad Valorem Taxes which would otherwise be due for the then-applicable taxable year if such Project were not exempt from ad valorem real estate taxation and, if applicable, ad valorem personal property taxation (the "Annual PILOT"). Except as hereinafter provided with respect to Recaptured Abated Taxes under Section 4(b) below (for which CN Associates shall have no liability), each of CN Associates and the Company shall be fully, jointly and severally liable and responsible for payment of the Annual PILOT and any and all other amounts required to be paid under this Agreement, including any and all payments under Sections 4, 6 and 7 hereof, notwithstanding anything in this Agreement, the Lease or the Company Lease to the contrary., including any reference to payment by "CN Associates 'and/or' the Company" herein. In addition, Teva USA hereby guarantees payment of any and all Recaptured Abated Taxes under Section 4(bc) hereof.

Annual PILOT. In lieu of the general ad valorem real property taxes and, if applicable, ad valorem personal property taxes (collectively, the "Ad Valorem Taxes") for the Project for the taxable years 2014 through and including 2023 (excepting special assessments levied on account of special benefits and excepting all other amounts referenced in Section 6 below), CN Associates or the Company shall pay by separate check to the Treasurer of ▇▇▇▇▇▇▇ County, Kansas, or other appropriate officer, an amount which is equal to fifty percent (50%) of the Ad Valorem Taxes which would otherwise be due for the then-applicable taxable year if such Project were not exempt from ad valorem real estate taxation and, if applicable, ad valorem personal property taxation (the "Annual PILOT"). Except as hereinafter provided with respect to Recaptured Abated Taxes under Section 4(b) below (for which CN Associates shall have no liability), each of CN Associates and the Company shall be fully, jointly and severally liable and responsible for payment of the Annual PILOT and any and all other amounts required to be paid under this Agreement, including any and all payments under Sections 4, 6 and 7 hereof, notwithstanding anything in this Agreement, the Lease or the Company Lease to the contrary., including any reference to payment by "CN Associates 'and/or' the Company" herein. In addition, Teva USA hereby guarantees payment of any and all Recaptured Abated Taxes under Section 4(bc4(c) hereof.

Annual PILOT. In lieu of the general ad valorem real property taxes and, if applicable, ad valorem personal property taxes (collectively, the "Ad Valorem Taxes") for the Project for the taxable years 2014 through and including 2023 (excepting special assessments levied on account of special benefits and excepting all other amounts referenced in Section 6 below), CN Associates or the Company shall pay by separate check to the Treasurer of ▇▇▇▇▇▇▇ County, Kansas, or other appropriate officer, an amount which is equal to fifty percent (50%) of the Ad Valorem Taxes which would otherwise be due for the then-applicable taxable year if such Project were not exempt from ad valorem real estate taxation and, if applicable, ad valorem personal property taxation (the "Annual PILOT"). Except as hereinafter provided with respect to Recaptured Abated Taxes under Section 4(b) below (for which CN Associates shall have no liability), each of CN Associates and the Company shall be fully, jointly and severally liable and responsible for payment of the Annual PILOT and any and all other amounts required to be paid under this Agreement, including any and all payments under Sections 4, 6 and 7 hereof, notwithstanding anything in this Agreement, the Lease or the Company Lease to the contrary., including any reference to payment by "CN Associates 'and/or' the Company" herein. In addition, Teva USA hereby guarantees payment of any and all Recaptured Abated Taxes under Section 4(bc4(b) hereof.