NRE Assets definition
Examples of NRE Assets in a sentence
Any refund of ad valorem Taxes with respect to the NRE Assets for periods ending on or before the Distribution Date shall be for the benefit of NRE and the relevant member of the NRE Group, and NRF shall have no entitlement thereto.
Unless otherwise provided in this Section 9.03(g), NRE shall control any audit, examination or proceeding (“Tax Contest”) relating in whole or in part to Taxes of NRE, the Subsidiaries of NRE, the NRE Business and the NRE Assets.
If NRF receives any refund of ad valorem Taxes with respect to the NRE Assets, NRF shall pay to NRE the full amount of such refund within five (5) Business Days.
NRE hereby recognizes NRF’s authority to execute and file, on behalf of each of NRE, the Subsidiaries of NRE, the European Real Estate Business and the NRE Assets, all such Tax Returns (and agrees to take all action necessary to ensure such authorization in conformity with applicable Law and principles of good governance generally).
To the extent not otherwise paid by NRF to the appropriate Taxing Authority, NRF shall reimburse NRE for Taxes of NRE, the Subsidiaries of NRE, the European Real Estate Business and the NRE Assets with respect to all such Tax Returns within fifteen (15) Business Days after payment by NRE, the Subsidiaries of NRE, the NRE Business or the NRE Assets of such Taxes.
All determinations necessary to give effect to the foregoing allocations shall be made in a manner consistent with reasonable prior practice of the NRF, NRE, the Subsidiaries of NRE, the European Real Estate Business, and the NRE Assets, as applicable.
All such Tax Returns shall be prepared in a manner that is consistent with the past custom and practice of NRF, NRE, the Subsidiaries of NRE, the European Real Estate Business and the NRE Assets, as applicable, except as required by a change in applicable Law.