Asset Taxes definition

Asset Taxes means ad valorem, property, excise, severance, production or similar taxes (including any interest, fine, penalty or additions to tax imposed by Governmental Authorities in connection with such taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom, but excluding, for the avoidance of doubt, income, capital gains and franchise taxes.

Asset Taxes means ad valorem, property, excise, severance, production, sales, use, and similar Taxes based upon or measured by the ownership or operation of the Assets or the production of Hydrocarbons or the receipt of proceeds therefrom, but excluding, for the avoidance of doubt, Income Taxes and Transfer Taxes.

Asset Taxes means ad valorem, property, severance, production, or similar Taxes (including any interest, fine, penalty or additions to tax imposed by Governmental Authorities in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom, but excluding, for the avoidance of doubt, income, franchise, and similar Taxes.

Examples of Asset Taxes in a sentence

• Purchaser shall be responsible for all expenses (other than taxes) accruing, and all Asset Taxes attributable to tax periods (or portions thereof) beginning, on and after the Effective Date, and Seller shall be responsible for all expenses accruing, and all Asset Taxes attributable to tax periods (or portions thereof) ending, before the Effective Date.

• Notwithstanding the foregoing, Purchaser is not entitled to indemnification under this fourth paragraph of Section X.C with respect to any Asset Taxes resulting from proceeds Purchaser receives and is entitled to under Section V of this Agreement attributable to production prior to the Effective Date to the extent not yet received by the royalty owner as of the Effective Date (it being understood that all Asset Taxes attributable to such proceeds will be Purchaser’s responsibility).

• Except as otherwise provided herein, the Sellers shall be allocated and bear all Asset Taxes attributable to any Pre-Closing Tax Period and Buyer shall be allocated and bear all Asset Taxes attributable to any Post-Closing Tax Period.

• Subject to Xxxxx’s indemnification rights under ARTICLE V and the Sellers’ payment obligation under Section 4.3(b), Buyer will file any Tax Return with respect to Asset Taxes attributable to a Straddle Period that is required to be filed after the Closing and will pay any such Taxes shown as due and owing on such Tax Return.

• The Parties agree that (A) this Section 4.3(a) is intended to solely address the timing and manner in which certain Tax Returns relating to Asset Taxes are filed and the Asset Taxes shown thereon are paid to the applicable Taxing Authority and (B) nothing in this Section 4.3(a) shall be interpreted as altering the manner in which Asset Taxes are allocated to and economically borne by the Parties.

More Definitions of Asset Taxes

Asset Taxes means Property Taxes and Severance Taxes.

Asset Taxes means ad valorem, property, excise, sales, use, severance, production or similar Taxes (including any interest, fine, penalty or additions to Tax imposed by a Governmental Authority in connection with such Taxes) based upon operation or ownership of the Assets or the production of Hydrocarbons therefrom. Notwithstanding the foregoing, Asset Taxes shall not include: (a) income, capital gains, franchise Taxes and similar Taxes; and (b) transfer Taxes.

Asset Taxes means all Property Taxes and Severance Taxes.

Asset Taxes means ad valorem, property, sales, use, excise, severance, production or similar Taxes (including any interest, fine, penalty or additions to Tax imposed by a Governmental Authority in connection with such Taxes) based upon the operation or ownership of the Assets or the production of Hydrocarbons or receipt of proceeds therefrom but excluding, for the avoidance of doubt, (a) Income Taxes and (b) Transfer Taxes.

Asset Taxes has the meaning set forth in Section 8.1(b).

Asset Taxes means all ad valorem, real property, personal property, sales, use and all other Taxes and similar obligations, in each case, assessed against or with respect to the Assets or based upon or measured by the acquisition, ownership and operation of the Assets, but not including Income Taxes and Transfer Taxes.

Asset Taxes means ad valorem, property, excise, sales, use and similar Taxes based upon the operation or ownership of the Purchased Assets, the assets of the Transferred Entities or the Business, but excluding, for the avoidance of doubt, Income Taxes and Transfer Taxes.