Common use of Contesting Taxes Clause in Contracts

Contesting Taxes. Lessee may contest the validity of any tax, assessment, or fee for which ▇▇▇▇▇▇ is responsible under this Lease, as long as such contest is pursued in good faith and with due diligence, and ▇▇▇▇▇▇ has paid the obligation in question or posted the financial assurance, discussed below, in the event of an adverse determination. Lessee will not be in default of Section 11.1, provided that written notice is given to Lessor of Lessee’s intention to contest the tax, assessment, or fee; and, provided that Lessee furnishes Lessor with a bond made by a surety company qualified to do business in the state of Idaho, or pays cash to a recognized escrow agent in the County in which the Leased Premises are located, or as otherwise agreed in writing by Lessor, equal to one hundred and ten percent (110%) of the amount of the tax or obligation Lessee intends to contest, conditioned on payment when the validity of such tax or obligation has been determined. Lessee shall give Lessor written notice and post the financial assurance not later than sixty (60) calendar days before the contested tax, assessment, or fee is due.

Contesting Taxes. Lessee may contest the validity of any tax, assessment, or fee for which ▇▇▇▇▇▇ is responsible under this Lease, as long as such contest is pursued in good faith and with due diligence, and ▇▇▇▇▇▇ has paid the obligation in question or posted the financial assurance, discussed below, in the event of an adverse determination. Lessee will not be in default of Section 11.1, provided that written notice is given to Lessor of Lessee’s intention to contest the tax, assessment, or fee; and, provided that Lessee furnishes Lessor with a bond made by a surety company qualified to do business in the state of Idaho, or pays cash to a recognized escrow agent in the County in which the Leased Premises are located, or as otherwise agreed in writing by Lessor, equal to one hundred and ten percent (110%) of the amount of the tax or obligation Lessee ▇▇▇▇▇▇ intends to contest, conditioned on payment when the validity of such tax or obligation has been determined. Lessee shall give Lessor written notice and post the financial assurance not later than sixty (60) calendar days before the contested tax, assessment, or fee is due.