Common use of Itemization Clause in Contracts

Itemization. Within ninety (90) days following the Asset Transfer Date, or at least thirty (30) days prior to the date that the relevant Current Property Taxes become due and payable, whichever is earlier, the Transferring Party shall furnish the Transferee Party with a written list setting out, for each Transferred Asset that such Transferring Party contributed, assigned, transferred, conveyed or delivered unto such Transferee Party, the Transferring Party’s determination regarding whether there is or is not a separate tax ticket or ▇▇▇▇ that covers such Transferred Asset (each, a “Separate Tax Ticket”), a tax ticket or ▇▇▇▇ that covers both the Transferred Asset and a real property interest being retained by the Transferring Party (each, a “Combined Tax Ticket” that will need to be “split”), or any tax ticket or ▇▇▇▇ whatsoever that covers the Transferred Asset, and stating for each such Transferred Asset whether the Current Property Taxes have been paid in full as well as, if not paid in full, the amount of such Current Property Taxes that are, at the time, outstanding. The following payment obligations shall apply based upon such determination: