Rights in the Event of Repeal of Property Tax Exemption. (a) In the event the Property Tax Exemption is no longer in effect [*****] (a “No Fault Occurrence”), the Rangers shall remain responsible for fifty percent (50%) of the Arena Property Tax for the remainder of the Term, unless the Parties agree to extend this provision.
Appears in 4 contracts
Samples: Arena License Agreement (Madison Square Garden Co), Arena License Agreement (MSG Entertainment Spinco, Inc.), Arena License Agreement (Madison Square Garden Sports Corp.)
Rights in the Event of Repeal of Property Tax Exemption. (a) In the event the Property Tax Exemption is no longer in effect or the Arena or the Rangers otherwise becomes subject to an Arena Property Tax, [*****] (a “No Fault Occurrence”), the Rangers shall remain responsible for fifty percent (50%) of the Arena Property Tax for the remainder of the Term, unless the Parties agree to extend this provision.
Appears in 1 contract
Samples: Arena License Agreement (MSG Entertainment Spinco, Inc.)
