Common use of Apportionment of Property Taxes Clause in Contracts

Apportionment of Property Taxes. An estimate shall be made, based on the most recent past-issued assessments, of all real property and personal property taxes and similar ad valorem obligations expected to be levied after the Closing Date with respect to (i) the Acquired Assets and (ii) the real and personal property owned by the Transferred Subs for a taxable period that includes (but does not end on) the Closing Date and shall be apportioned between the Seller and the Purchaser as of the Closing Date based on the number of days of such taxable period included in the period ending with and including the Closing Date (with respect to any such taxable period, the “Pre-Closing Tax Period”), and the number of days of such taxable period beginning after the Closing Date. The Seller shall pay, or cause to be paid, to the Purchaser the proportionate amount of such estimated taxes attributable to the Pre- Closing Tax Period at the Closing, and the Purchaser shall be liable for all such taxes assessed after the Closing Date.

Apportionment of Property Taxes. An estimate shall be made, based on the most recent past-issued assessments, of all real property and personal property taxes and similar ad valorem obligations expected to be levied after the Closing Date with respect to (i) the Acquired Assets and (ii) the real and personal property owned by the Transferred Subs for a taxable period that includes (but does not end on) the Closing Date and shall be apportioned between the Seller and the Purchaser as of the Closing Date based on the number of days of such taxable period included in the period ending with and including the Closing Date (with respect to any such taxable period, the “"Pre-Closing Tax Period”"), and the number of days of such taxable period beginning after the Closing Date. The Seller shall pay, or cause to be paid, to the Purchaser the proportionate amount of such estimated taxes attributable to the Pre- Closing Tax Period at the Closing, and the Purchaser shall be liable for all such taxes assessed after the Closing Date.

Apportionment of Property Taxes. An estimate shall be made, based on the most recent past-issued assessments, of all real property and personal property taxes and similar ad valorem obligations expected to be levied after the Closing Date with respect to (i) the Acquired Assets and (ii) the real and personal property owned by the Transferred Subs for a taxable period that includes (but does not end on) the Closing Date and shall be apportioned between the Seller and the Purchaser as of the Closing Date based on the number of days of such taxable period included in the period ending with and including the Closing Date (with respect to any such taxable period, the “"Pre-Closing Tax Period”"), and the number of days of such taxable period beginning after the Closing Date. The Seller shall pay, or cause to be paid, to the Purchaser the proportionate amount of such estimated taxes attributable to the Pre- Pre-Closing Tax Period at the Closing, and the Purchaser shall be liable for all such taxes assessed after the Closing Date.