Common use of NSR Clause in Contracts

NSR. (i) shall be responsible for property (ad valorem) taxes, if any, determined pursuant to the North Carolina General Statutes and related rules and regulations of the North Carolina Department of Revenue on Non-operating Property that is owned by NCRR and which NSR has the exclusive right to use under the Agreement and (ii) shall be responsible for any property taxes, assessments, or liens with respect to Designated Returned Property not paid by NSR or any of its subtenants/licensees for all periods prior to the Return Date. NCRR shall be responsible for property (ad valorem) taxes on all other Non-operating Property; provided, however, where NSR has the non-exclusive right to use Non-operating Property under EXHIBIT 10(i), Page 33 of 44 the Agreement, then NSR shall be responsible for its pro rata share of the property taxes on such property based on NSR's usage of such property. For purposes of this Section 26, Non-operating Property shall mean property that is appraised as non-system property by the North Carolina Department of Revenue or separately assessed by the local assessor as non-public service company property.