Common use of Ad Valorem Taxes Clause in Contracts

Ad Valorem Taxes. All real estate and personal property taxes attributable to the Property will be prorated at Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the year in which Closing occurs, the proration of real estate and/or personal property taxes, as the case may be, will be based upon the rate and assessments for the preceding year. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to Seller, and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.

Ad Valorem Taxes. All real estate and personal property taxes attributable to the Property will be prorated at Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the year in which Closing occurs, the proration of real estate and/or personal property taxes, as the case may be, will be based upon the rate and assessments for the preceding year. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to Seller, and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.

Ad Valorem Taxes. All real estate and personal property taxes attributable to the Property will be prorated at Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the year in which Closing occurs, the proration of real estate and/or personal property taxes, as the case may be, will be based upon the rate and assessments for the preceding year, subject to initial adjustment as provided in Section 8.3 below. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to Seller, and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.

Ad Valorem Taxes. All real estate taxes and personal property taxes assessments attributable to the Property will be prorated at Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the tax year in which Closing occurs, the proration of real estate and/or personal property taxes, as the case may be, and assessments will be based upon the rate and assessments for the preceding yearyear plus two percent (2%) with a post-closing reconciliation when the actual tax bills are available. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to SellerSeller (except to the extent such amounts must be refunded to the tenants under the Leases), and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.

Ad Valorem Taxes. All real estate and personal property taxes attributable to the Property will for years prior to Closing shall be prorated paid in full by Seller at or prior to Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the fiscal tax year in which Closing occurs, the estimated proration of real estate and/or personal property taxes, as the case may be, will be based upon calculated at 102% of the rate and assessments for the preceding fiscal tax year. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to Seller, and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.

Ad Valorem Taxes. All real estate and personal property taxes attributable to the Property will be prorated at Closing. Seller shall be charged with all such taxes up to, but not including, the Closing Date. If the applicable tax rate and assessments for the Property have not been established for the year in which Closing occurs, the proration of real estate and/or personal property taxes, as the case may be, will be based upon the rate and assessments for the preceding year. All taxes imposed because of a change of use of the Property after Closing will be paid by Buyer. All taxes imposed as a result of or in connection with the sale of the Property will be paid by Buyer. Real property tax refunds and credits received after the Closing which are attributable to a fiscal tax year prior to the fiscal year of the Closing shall belong to Seller, and those which are attributable to the fiscal tax year in which the Closing occurs shall be prorated based upon the date of Closing.