Property Tax Exemption. To the extent the property tax exemption provisions of section 214 of the Revenue and Taxation Code are applicable to the Borrower and the Development, Borrower shall take all actions necessary to qualify the Development for the maximum exemption from property taxes available pursuant to said section 214 of the Revenue and Taxation Code. Such actions may include, but are not limited to the following:
Property Tax Exemption. Subject to Council approval being obtained, the City shall exempt the Project from taxation for municipal and school purposes for a term of XX years;
Property Tax Exemption. The Borrower covenants to timely apply and re-apply for, and pursue, property tax-exemption for all qualifying spaces in the Project.
Property Tax Exemption. The City and the Company expect that while the Project is owned by the City and is subject to this Lease, the Project will be exempt from all ad valorem real and personal property taxes by reason of such ownership, and the City agrees that it will (at the expense of the Company) cooperate with the Company to defend such exemption against all parties. The City and the Company further acknowledge and agree that the City’s obligations hereunder are contingent upon the Company making the payments due under and otherwise complying with the terms of the Performance Agreement during the term of this Lease. The terms and conditions of the Performance Agreement are incorporated herein as if fully set forth herein.
Property Tax Exemption. Borrower shall not apply for a property tax exemption for the Property under any provision of law except California Revenue and Taxation Section 214(g) without the prior written consent of the County.
Property Tax Exemption. Unless expressly waived in writing by the Department, Sponsor shall provide evidence of eligibility for property tax exemption for the Development and a copy of the tax exemption application to the local tax assessor(s).
Property Tax Exemption. Xxxxxx agrees to cooperate with University and do all acts reasonably necessary and appropriate to secure and maintain tax exemption of the property leased hereunder pursuant to Article 13, section 3 of the California Constitution. Xxxxxx agrees to apply the amount of any reduction of tax resulting from such exemption as a credit against rental payments otherwise due by University to Lessor hereunder.
Property Tax Exemption. So long as the City owns the Project, the Project will be exempt from all ad valorem taxes assessed by all state and local governments and taxing districts (collectively “Property Taxes”) on real and personal property (the “Exemption”).
Property Tax Exemption. Grantee may not apply for a property tax exemption for the property under any provision of law except California Revenue and Taxation Section 214(g) or Section 214(h), without the prior written consent of the County.
Property Tax Exemption. Tenant certifies that: i) Tenant has complied with any and all legal requirements with which Tenant must comply at this time in order to prevent Tenant’s use of the premises from causing the premises to lose its property tax exemption under Article XIII of the Constitution of the State of California and §'201 et seq. of the California Revenue & Taxation Code; and ii) Tenant shall comply with all such requirements imposed on Tenant during and after the term of this lease. Should any real property taxes be levied against the premises as a result of Tenants use thereof, Tenant shall reimburse Landlord for such real property taxes not later than ten (10) calendar days before the delinquency date.
