Property Taxes definition
Examples of Property Taxes in a sentence
Upon receipt of any bill for such Property Taxes or other Taxes, Purchaser or Seller, as applicable, shall present a statement to the other setting forth the amount of reimbursement to which such Party is entitled under this Section 6.2(b) together with such supporting evidence as is reasonably necessary to calculate the proration amount.
All Property Taxes levied with respect to the Purchased Assets or the Business for the Straddle Period shall be apportioned between Purchaser, on one hand, and Seller, on the other hand, based on the number of days of such Straddle Period included in the Pre-Closing Tax Period and the number of days of such Straddle Period included in the Post-Closing Tax Period.
Seller shall be liable for the proportionate amount of such Property Taxes that is attributable to the Pre-Closing Tax Period, and Purchaser shall be liable for the proportionate amount of such Property Taxes that is attributable to the Post-Closing Tax Period.