Common use of Tax Clause Clause in Contracts

Tax Clause. LESSEE shall pay, before delinquency, any and all ad valorem property taxes assessed against the Premises herein leased. In the event that tax bills or notices are mailed to LESSOR as record owner, LESSOR shall promptly transmit said bills or notices to LESSEE and no failure of payment by LESSEE shall be deemed a breach hereof unless and until said bills or notices have in fact been transmitted. Penalties or interest assessed by reason of LESSOR's failure or delay to transmit bills or notices shall be borne by LESSOR.

Tax Clause. LESSEE shall pay, before delinquency, any and all ad valorem property taxes assessed against the Premises herein leasedPremises. In the event that tax bills or notices are mailed to LESSOR as record owner, LESSOR shall promptly transmit said bills or notices to LESSEE and no failure of payment by LESSEE shall be deemed a breach hereof unless and until said bills or notices have in fact been transmitted. Penalties or interest assessed by reason of LESSOR's failure or delay to transmit bills or notices shall be borne by LESSOR.