Seller’s Taxes definition

Seller’s Taxes shall have the meaning set forth in Section 5.4(a) hereof.

Seller’s Taxes shall have the meaning set forth in Section 5.4(a) hereof. “Services Term” shall have the meaning set forth in Section 2.2(b) hereof. “Settlement Period” shall have the meaning set forth in Exhibit G hereto. “Shared Equipment” shall have the meaning set forth in Exhibit A hereto.

Seller’s Taxes shall have the meaning set forth in Section 7.1.

Examples of Seller’s Taxes in a sentence

• In the event Buyer shall be required by law or regulation to remit or pay any Seller’s Taxes, Seller shall reimburse Buyer for such payment, and Buyer may also elect to deduct any of the amount of any such Seller’s Taxes from the amount due to Seller under Section 5.2. Buyer shall have the right to all credits, deductions and other benefits associated with taxes paid by Buyer or reimbursed to Seller by Buyer as described herein.

• In the event Buyer shall be required by law or regulation to remit or pay any Seller’s Taxes, Seller shall reimburse Buyer for such payment, and Buyer may deduct any of the amount of any such Seller’s Taxes from the amount due to Seller under Section 5.2. Buyer shall have the right to all credits, deductions and other benefits associated with taxes paid by Buyer or reimbursed to Seller by Buyer as described herein.

• Any unpaid Seller’s Taxes shall be withheld from Seller’s proceeds at closing and paid directly to the county treasurer; provided, however, any portion of Seller’s Taxes that is not ascertainable and payable at the time of closing shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (and prorated to the date of closing) shall be paid via credit against the sums due from Buyer at closing, with no further settlement or adjustment after closing.

• In the event Buyer shall be required by law or regulation to remit or pay any Seller’s Taxes, at Buyer’s election, Seller shall reimburse Buyer for such payment, or Buyer may deduct the amount of any such Seller’s Taxes from the amount due to Seller under Section 5.2. Buyer shall have the right to all credits, deductions and other benefits associated with taxes paid by Buyer or reimbursed to Seller by Buyer as described herein.

• In the event that Buyer shall be required by law or regulation to remit or pay any Seller’s Taxes, at Buyer’s election, Seller shall reimburse Buyer for such payment or Buyer may deduct the amount of any such Seller’s Taxes from the amount due to Seller under Section 5.2. Buyer shall have the right to all credits, deductions and other benefits associated with taxes paid by Buyer or reimbursed to Seller by Buyer as described herein.

More Definitions of Seller’s Taxes

Seller’s Taxes shall have the meaning set forth in Section 5.4(a) hereof. “Services Term” shall have the meaning set forth in Section 2.2(b) hereof. “Shortfall Cure Amount” shall have the meaning set forth in Section 4.3(c) hereof.

Seller’s Taxes shall have the meaning set forth in Section 5.4(a) hereof. “Statement of Qualification” shall mean a written document from the DOER that qualifies a Generation Unit as an RPS Class I Qualified Generation Unit, or that qualifies a portion of the annual electrical energy output of a Generation Unit as RPS Class I Renewable Generation (as defined in 225 CMR 14.01).

Seller’s Taxes means all (i) Taxes arising out of, relating to or otherwise in respect of the Transferred Assets that are attributable to taxable periods, or portions thereof, ending on or prior to the Closing Date; and (ii) Taxes imposed on, or incurred by, Seller or any Affiliate of Seller for which Seller or any Affiliate of Seller is liable that do not arise out of, relate to or otherwise are not in respect of the Transferred Assets.

Seller’s Taxes refers to all Taxes assessed for the calendar year 2020, including Taxes assessed for 2020 and due in 2021 (“2020 Taxes”), and any unpaid Taxes and/or penalties for any earlier period. Any unpaid Seller’s Taxes, to the extent ascertainable and payable at the time of Closing, shall be withheld from Seller’s proceeds at Closing and paid by the Closing Agent directly to the appropriate tax collection office. If not ascertainable and payable at the time of Closing, the 2020 Taxes shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (to the extent attributed to the Property) shall be paid via credit against the sums due from Buyer at Closing, with no further settlement or adjustment after Closing; provided, however, if this sale involves a tax parcel split then, in lieu of a credit to Buyer at Closing, Seller may elect to deliver to the Closing Agent the entire amount of the estimated 2020 Taxes (including but not limited to the portion attributed to the Property) to be: (a) held in escrow and applied towards payment of the 2020 Taxes when billed after closing; or (b) paid directly to the appropriate tax collection office as an estimated prepayment of the 2020 Taxes. In any event, Buyer shall then pay all Taxes when due after Closing (to the extent attributed to the Property and not paid via escrow or direct prepayment) and any shortage or surplus with respect to the estimated amount credited or paid at Closing shall be paid or retained by or refunded to Buyer (to the extent attributed to the Property). If this sale involves a tax parcel split, the extent to which any Taxes are attributed to the Property shall be based on a split calculation provided by the appropriate property tax official (or, if an official split calculation is not available, based on an estimated split calculation using available assessment data). If the billing of any Taxes after Closing includes portions attributed to any other real estate in addition to the Property, Buyer shall cooperate with the owner(s) of such other real estate to facilitate timely payment of any balance due and Buyer shall pay the portion attributed to the Property.

Seller’s Taxes refers to: (a) real estate taxes assessed or to be assessed against the Property for the first part of the calendar year in which the closing occurs, prorated on a calendar year basis to the date of closing, and for all prior years; and (b) any drainage or other special assessments attributed to the Property and last payable without penalty on or before the closing date. Any unpaid Seller’s Taxes shall be withheld from Seller’s proceeds at closing and paid directly to the county treasurer; provided, however, any portion of Seller’s Taxes that is not ascertainable and payable at the time of closing shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (and prorated to the date of closing) shall be paid via credit against the sums due from Buyer at closing, with no further settlement or adjustment after closing. Buyer shall then pay all real estate taxes and assessments due after closing.

Seller’s Taxes refers to: (a) real estate taxes for the first part of the calendar year in which the closing occurs, prorated on a calendar year basis to the date of closing, and all prior years; and (b) drainage and/or other special assessments last payable without a penalty on or before the closing date. Any unpaid Seller’s Taxes shall be withheld from Seller’s proceeds at closing and paid directly to the county treasurer; provided, however, any portion of Seller’s Taxes that is not ascertainable and payable at the time of closing shall be estimated based on 100% of the amount last billed for a calendar year and the amount thus estimated (and prorated to the date of closing) shall be paid via credit against the sums due from Buyer at closing, with no further settlement or adjustment after closing. Buyer shall then pay all real estate taxes and assessments due after closing.

Seller’s Taxes is defined in Section 6.15(b).