Common use of Other Property Taxes in Connection with the Project; Credits Clause in Contracts

Other Property Taxes in Connection with the Project; Credits. The Exemption provided by the City’s ownership of the Project shall apply to all interests in the Project during the period it is owned by the City. If any Property Taxes are levied by or on behalf of any taxing jurisdiction against any interest in the Project during the period the City owns the Project (including, without limitation, any ad valorem taxes levied against the Company’s rights in the Lease Agreement), the amount of Property Tax payments related to such levy or levies that are paid by Company and received by the City, the County, or any other Missouri taxing jurisdiction shall be credited against and reduce on a dollar for dollar basis the amount payable by the Company to the City for PILOT Payments and Penalty Payments pursuant to this Agreement. The Company shall be responsible for any taxes related to any interest in the improvements or equipment on the Project Site which the Company owns in its own name or possession of which is granted to the Company other than pursuant to the Lease Agreement. There shall be no reduction in PILOT Payments or Penalty Payments for any sales taxes imposed by any governmental authority, including the Missouri Department of Revenue, in connection with the Company’s acquisition of construction materials for the Project Improvements or the Company’s acquisition of the Project Equipment.

Other Property Taxes in Connection with the Project; Credits. The Exemption real property tax exemption provided by the City’s ownership of the Project shall is expected to apply to all interests in the Project during the period it is owned by the City. If any Property Taxes ad valorem property taxes are levied by or on behalf of any taxing jurisdiction against any interest in the Project during the period the City owns the Project (including, without limitation, any ad valorem taxes levied against the Company’s rights in the Lease AgreementLease), the amount of Property Tax ad valorem tax payments related to such levy or levies that are paid by the Company and received by the City, the City or St. Xxxxxxx County, or any other Missouri taxing jurisdiction shall be credited against and reduce on a dollar for dollar pro rata basis the amount payable by of the PILOT Payments the Company is obligated to the City for PILOT Payments and Penalty Payments pay pursuant to this Agreement. The Company shall be responsible for any taxes related to any interest in the improvements or equipment on the Project Site which the Company owns in its own name or possession of which is granted to the Company other than pursuant to the Lease Lease. Notwithstanding anything to the contrary in this Agreement. There , there shall be no reduction in PILOT Payments or Penalty Payments for any sales taxes imposed by any governmental authority, including the Missouri Department of Revenue, in connection with the Company’s acquisition of construction materials for real property improvements at the Project Improvements or the Company’s acquisition of the Project EquipmentSite.

Other Property Taxes in Connection with the Project; Credits. The Exemption provided by the City’s ownership of the Project shall apply to all interests in the Project during the period it is they are owned by the City. If any Property Taxes are levied by or on behalf of any taxing jurisdiction against any interest in the Project during the period the City owns the Project (including, without limitation, any ad valorem taxes levied against the Company’s rights in the Lease Agreement), the amount of Property Tax payments related to such levy or levies that are paid by Company and received by the City, the County, or any other Missouri taxing jurisdiction shall be credited against and reduce on a dollar for dollar basis the amount payable by the Company to the City for PILOT Payments and Penalty Additional PILOT Payments pursuant to this Agreement. The Company shall be responsible for any taxes related to any interest in the improvements or equipment on the Project Site which the Company owns in its own name or possession of which is granted to the Company other than pursuant to the Lease Agreement. There shall be no reduction in PILOT Payments or Penalty Additional PILOT Payments for any sales taxes imposed by any governmental authority, including the Missouri Department of Revenue, in connection with the Company’s acquisition of construction materials for the Project Improvements or the Company’s acquisition of the Project Equipment.

Other Property Taxes in Connection with the Project; Credits. The Exemption provided by the City’s ownership of the Project shall apply to all interests in the Project during the period it is they are owned by the City. If any Property Taxes are levied by or on behalf of any taxing jurisdiction against any interest in the Project during the period the City owns the Project (including, without limitation, any ad valorem taxes levied against the Company’s rights in the Lease Agreement), the amount of Property Tax payments related to such levy or levies that are paid by Company and received by the City, the County, or any other Missouri taxing jurisdiction shall be credited against and reduce on a dollar for dollar pro rata basis the amount payable by the Company to the City for PILOT Payments and Penalty Additional PILOT Payments pursuant to this Agreement. The Company shall be responsible for any taxes related to any interest in the improvements or equipment on the Project Site which the Company owns in its own name or possession of which is granted to the Company other than pursuant to the Lease Agreement. There shall be no reduction in PILOT Payments or Penalty Additional PILOT Payments for any sales taxes imposed by any governmental authority, including the Missouri Department of Revenue, in connection with the Company’s acquisition of construction materials for the Project Improvements or the Company’s acquisition of the Project Equipment.