Real Estate and Personal Property Taxes. A. Except as specifically set forth in Section 4.07.B below, all real estate and personal property taxes, levies, assessments (including special assessments (regardless of when due or whether they are paid as a lump sum or in installments over time) imposed because of facilities that are constructed by or on behalf of the assessing jurisdiction (for example, roads, sidewalks, sewers, culverts, etc.) which directly benefit the Hotel (regardless of whether or not they also benefit other buildings)), “Impact Fees” (regardless of when due or whether they are paid as a lump sum or in installments over time) which are required of Owner as a condition to the issuance of zoning variances or building permits, and similar charges on or relating to the Hotel (collectively, “Impositions”) during the Term shall be paid by Manager from Gross Revenues, before any fine, penalty, or interest is added thereto or lien placed upon the Hotel or upon this Agreement, unless payment thereof is in good faith being contested and enforcement thereof is stayed. Any such payments shall be Deductions in determining Operating Profit. Owner shall, within five (5) days after receipt, furnish Manager with copies of official tax bills and assessments which it may receive with respect to the Hotel. Either Landlord or Owner may, and at Owner’s request Manager shall, initiate proceedings to contest any negotiations or proceedings with respect to any Imposition, and all reasonable costs of any such contest shall be paid from Gross Revenues and shall be a Deduction in determining Operating Profit. Manager shall, as part of its contest or negotiation of any Imposition, be entitled, on Owner’s behalf, to waive any applicable statute of limitations in order to avoid paying the Imposition during the pendency of any proceedings or negotiations with applicable authorities. Notwithstanding anything contained herein to the contrary, at Owner’s option (i) Manager shall establish an escrow account in the name of Owner in a bank or banks designated by Manager with the concurrence of Owner and shall deposit monthly into such account from Gross Revenues an amount that Manager reasonably estimates shall be sufficient to pay the Impositions, in which case Manager shall pay the Impositions from funds in the escrow account as and when the Impositions become due (and Owner shall promptly deposit into the escrow account any deficiency if the estimated monthly payments are not sufficient to pay all of the Impositio...
Real Estate and Personal Property Taxes. The Owner agrees to pay all taxes, assessments, or other public charges levied or assessed by lawful authority against the Real Estate. The Operator agrees to pay all personal property taxes, assessments, or other public charges levied or assessed by lawful authority against the Operator’s personal property on the premises, during the term of the lease.
Real Estate and Personal Property Taxes. A. Subject to Section 11.24 relating to permitted contests, Manager shall pay, from Gross Revenues for each Hotel, all Impositions with respect to such Hotel, before any fine, penalty, interest or cost (other than any opportunity cost as a result of a failure to take advantage of any discount for early payment) may be added for non-payment, such payments to be made directly to the taxing authorities where feasible, and shall promptly, upon request, furnish to Landlord and Tenant copies of official receipts or other reasonably satisfactory proof evidencing such payments. Any such payments shall be a Deduction in determining Operating Profit for such Hotel. If any such Imposition may, at the option of the taxpayer, lawfully be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Manager may exercise the option to pay the same (and any accrued interest on the unpaid balance of such Imposition) in installments and, in such event, shall pay such installments during the Term as the same become due and before any fine, penalty, premium, further interest or cost may be added thereto. Manager shall, upon request, provide such data as is maintained by Manager with respect to any Hotel as may be necessary to prepare any required returns and reports by Landlord or Tenant. Tenant shall give, and will use reasonable efforts to cause Landlord to give, copies of official tax bills and assessments which it may receive with respect to any Hotel and prompt notice to Tenant and Manager of all Impositions payable by Tenant under the Lease of which Tenant or Landlord, as the case may be, at any time has knowledge; provided, however, that Landlord’s or Tenant’s failure to give any such notice shall in no way diminish Manager’s obligation hereunder to pay such Impositions (except that Landlord or Tenant, as applicable, shall be responsible for any interest or penalties incurred as a result of Landlord’s or Tenant’s, as applicable, failure promptly to forward the same).
Real Estate and Personal Property Taxes. Real estate taxes, excise --------------------------------------- taxes and personal property taxes attributable to the Property (collectively, "PROPERTY TAXES"), shall be prorated as of the Closing Date. Prudential shall --------------- pay all Property Taxes and shall be entitled to all tax refunds and credits attributable to the Property through 11:59 p.m. on the day before the Closing Date. REIT OP shall be responsible to pay all Property Taxes attributable to the Property as of and after the Closing Date. If any of the Property Tax rates or assessments have not been set for the fiscal year in which the Closing occurs or are otherwise undeterminable at the Closing, then the proration of such taxes and payments shall be based upon the rate, assessments and facts for the preceding calendar year, and such proration shall be adjusted between Prudential and REIT OP upon presentation of written evidence that the actual taxes paid for the calendar year in which the Closing occurs differ from the amounts used at Closing and in accordance with the provisions of Section 5.8. Prudential shall ----------- be responsible to pay all installments of special assessments due and payable prior to the Closing Date and REIT OP shall be responsible to pay all installments of special assessments due and payable on and after the Closing Date. In the event the Property is assessed for property tax purposes at such rates as would result in reassessment based upon the change in land usage after the Closing Date, REIT OP hereby agrees to pay all such taxes and to indemnify and save Prudential harmless from and against all claims and liability for such taxes. Such indemnity, and the obligations of the parties to readjust the applicable prorations under this Section shall survive the Closing and not be merged therein.
Real Estate and Personal Property Taxes. A. Except as specifically set forth in subsection B below, all real estate and personal property taxes, levies, assessments and similar charges on or relating to the Resort ("Impositions") during the Term shall be paid by Manager from Gross Receipts, before any fine, penalty, or interest is added thereto or lien placed upon the Resort or upon the Agreement, unless payment thereof is in good faith being contested and enforcement thereof is stayed. Any such payments shall be Deductions in determining Operating Profit. Owner shall, within ten (10) business days after receipt, furnish Manager with copies of official tax bills and assessments which it may receive with respect to the Resort. Either Owner or Manager (in which case Owner agrees to sign the required applications and otherwise cooperate with Manager in expediting the matter) may initiate proceedings to contest any negotiations or proceedings with respect to any Imposition, and all reasonable costs of any such contest shall be paid from Gross Receipts and shall be a Deduction in determining Operating Profit. Manager shall, as part of its contest or negotiation of any Imposition, be entitled, on Owner's behalf, to waive any applicable statute of limitations in order to avoid paying the Imposition during the pendency of any proceedings or negotiations with applicable authorities.
Real Estate and Personal Property Taxes. Manager shall pay as Operating Costs on behalf of Owner, prior to delinquency, all taxes and assessments which may become a lien on, or are assessed against, any Hotel or any component thereof and which may be due and payable for the Term, unless payment thereof is being contested by Manager, as hereinafter provided, enforcement is stayed and the amount so contested is escrowed or guaranteed in a form satisfactory to Owner. Owner shall, promptly after receipt thereof by Owner, give Manager copies of all notices as to all such taxes and assessments.
Real Estate and Personal Property Taxes. A. Except as specifically set forth in Section 4.07.B. below, all real estate and personal property taxes, levies, assessments (including special assessments (regardless of when due or whether they are paid as a lump sum or in installments over time) imposed because of facilities which are constructed by or on behalf of the assessing jurisdiction (for example, roads, sidewalks, sewers, culverts, etc.) which directly benefit the Inn (regardless of whether or not they also benefit other buildings)), "
Real Estate and Personal Property Taxes. Real estate, as opposed to personal property taxes, shall be prorated only on the basis of real estate taxes which become due and payable in the calendar year during which Closing occurs, based upon the latest available tax xxxx and the number of days elapsed in the calendar year of Closing, as of midnight of the day immediately preceding the Closing Date. Personal property taxes shall be prorated as of the Closing Date based upon the date they become due. Seller shall be entitled to all tax refunds and credits attributable to the Property prior to the Closing Date. Buyer shall pay all real estate and personal property taxes and shall be entitled to all tax refunds and credits attributable to the Property after the Closing Date. If the real estate and/or personal property tax rate and assessments have not been set for the year in which the Closing occurs, then the proration of such taxes shall be based upon the rate and assessments for the preceding tax year, and there will be no re-proration or adjustment upon receipt of the actual tax xxxx even if it differs from the amounts used at Closing. Seller shall pay all special assessments payable prior to the Closing Date and Buyer shall pay all special assessments payable on and after the Closing Date; provided, however, that Seller shall not be responsible for any special assessments which have not been confirmed or which relate to projects that have not been completed on the date hereof. Notwithstanding the foregoing, any obligation of Seller hereunder shall be offset on a dollar for dollar basis to the extent Buyer is entitled after Closing to recover an increase in taxes from the tenants under the Leases for any tax period prior to the Closing Date, regardless of whether Buyer actually collects such increased taxes from such tenants. In the event the Property has been assessed for property tax purposes at such rates as would result in reassessment (i.e., "escape assessment" or "roll-back taxes") based upon the change in land usage or ownership of the Property, Buyer hereby agrees to pay all such taxes and to indemnify and save Seller harmless from and against all claims and liability for such taxes. Such indemnity shall survive the Closing and not be merged therein.
Real Estate and Personal Property Taxes. To the extent not otherwise covered by the adjustment to the Purchase Price contemplated by Section 1.9, all real estate and personal property Taxes with respect to the Newsprint Assets shall be prorated as of the Closing Date, with Seller liable for such Taxes through the Closing Date and Purchaser being liable for such Taxes on and after the Closing Date.
Real Estate and Personal Property Taxes. In addition to all Payments or other charges payable by Tenant hereunder, Tenant shall promptly pay as additional rent all real estate taxes, levies and assessments imposed, levied upon or assessed against the Premises throughout the Term of this Lease. The term "real estate taxes" as used herein shall be deemed to mean all taxes imposed upon the real property and permanent improvements, and all assessments levied against the Premises (including, without limitation, any increases thereto occasioned by any sale or transfer of ownership thereof), but shall not include personal income taxes, inheritance taxes or franchise taxes levied against the Landlord. In addition, throughout the Term of this Lease, Tenant shall pay, prior to delinquency, all taxes assessed against and levied upon fixtures, furnishings, equipment and all other personal property contained in the Premises. Tenant shall reimburse Landlord for real estate taxes paid directly by Landlord, which reimbursement shall be on or before the later of: (i) ten (10) business days prior to each date a delinquency would be assessed by the taxing authority on such tax, if unpaid; or (ii) five (5) business days after written notice from Landlord to Tenant of the amount of Tenant’s required tax reimbursement.
