Challenges and Refunds Sample Clauses

Challenges and Refunds. Only Landlord shall be eligible to institute tax certiorari or other proceedings to reduce the assessed value of the Unit or any portion thereof. If, subsequent to the date of the Tax Statement or BID Statement for any Tax Year in which Tenant is required to make a Tenant’s Tax Payment or Tenant’s BID Payment hereunder, Landlord shall receive a refund of (a) Taxes and/or (b) any BID Assessment, Landlord, at its option, shall, subject to the last sentence of Section 4.02B(ii) or 4.02C(ii) hereof, as applicable, either pay to Tenant within thirty (30) days after receipt by Landlord, or allow Tenant a credit against subsequent payments of Rent (but following the expiration or earlier termination of this Lease, Landlord shall, subject to the last sentence of Section 4.02B(ii) or 4.02C(ii) hereof, as applicable, pay to Tenant) an amount equal to the applicable Tenant’s Proportionate Tax Share of such reduction or refund in respect of Taxes and/or the BID Assessment, as applicable, after deducting from such refund (to the extent not already netted out of the net refund) the reasonable costs and expenses incurred by Landlord in obtaining the same, but the amount of such refund or credit to Tenant shall not exceed Tenant’s Tax Payment or Tenant’s BID Payment theretofore paid for such Tax Year. Landlord shall institute, and in good faith prosecute (which shall include the right of Landlord to reasonably settle any such proceeding), tax certiorari proceedings with respect to the Unit with respect to each Tax Year after the first Base Tax Year for any Premises Portion (a “Tax Contest”); provided, however, that Landlord shall not be required to initiate or pursue any Tax Contest for any such Tax Year if Landlord obtains with respect to such Tax Year a letter from a reputable certiorari attorney or consultant stating that in such person’s opinion it would not be advisable or productive to bring such a Tax Contest for the applicable Tax Year. Landlord shall not at any time propose or accept any settlement, compromise or other disposition of a proceeding relating to Taxes or BID Assessment which (i) favors other property of Landlord (or any Affiliate of Landlord) at the expense of the Unit or (ii) as part of a multi-year settlement, inequitably reduces any Base Year Taxes as compared to other Tax Years involved in such settlement. Tenant shall pay to Landlord within thirty (30) days after being billed therefor, the aggregate applicable Tenant’s Proportionate Tax Share of...
View SourceView Similar (2)
Challenges and Refunds. Only Landlord may institute tax reduction or other proceedings to challenge Taxes or to reduce the assessed valuation of the Unit. If subsequent to the date of the Tax ▇▇▇▇ for any Tax Year Landlord shall receive a refund of Taxes for that Tax Year, Landlord shall pay to Tenant an amount equal to Tenant’s Tax Share of the net reduction in Taxes, but such amount shall not exceed Tenant’s Tax Payment theretofore paid for such Tax Year. If the Taxes comprising the Base Tax Amount are reduced as a result of an appropriate proceeding or otherwise, the Taxes as so reduced shall for all purposes be deemed to be the Taxes for the Base Tax Amount and Landlord shall give notice to Tenant of the amount by which Tenant’s Tax Payments previously made were less than Tenant’s Tax Payments required to be made under this Section 3.01, and Tenant shall pay the amount of the deficiency within twenty (20) days after demand therefor.
View Source
Challenges and Refunds. Except as expressly provided in Section 3.1(c)(v), only Landlord shall be eligible to institute tax certiorari or other proceedings to reduce the assessed value of the Real Property. If subsequent to the date of the Tax Statement for any Tax Year Landlord shall receive a refund of Taxes for any Tax Year, Landlord shall, at Tenant's election, either promptly pay to Tenant or allow Tenant a credit against subsequent payments due under Sections 3.1 and 3.2 hereof (but following the expiration or earlier termination of this Lease, Landlord shall pay to Tenant) an amount equal to Tenant's Proportionate Tax Share of the reduction in Taxes after deducting from such refund (to the extent not already netted out of the net refund) the costs and expenses incurred by Landlord in obtaining the same to the extent such costs and expenses have not been previously included as part of Taxes, but such amount shall not exceed Tenant's Tax Payment theretofore paid for such Tax Year.
View Source

Related to Challenges and Refunds

  • Challenges The Experts may be challenged by either Party if circumstances exist that give rise to justifiable doubts as to any of their impartiality or independence. In such circumstances the challenge shall be brought by written notice to the ICC copied to the other Party within fourteen (14) calendar days of the appointment of the relevant Expert or within fourteen (14) calendar days of the challenging Party becoming aware of the circumstances giving rise to the challenge. Unless the challenged Expert withdraws. or whichever of the Parties that has not brought the challenge agrees to the challenge, within fourteen (14) calendar days of the challenge, the ICC shall decide the challenge and, if appropriate, shall appoint a replacement Expert in accordance with the criteria set out herein.

  • No Challenges In no event shall any Secured Party take any action to challenge, contest or dispute the validity, extent, enforceability, or priority of the Collateral Agent’s Liens hereunder or under any other Security Document with respect to any of the Collateral, or that would have the effect of invalidating any such Lien or support any Person who takes any such action. Each of the Secured Parties agrees that it will not take any action to challenge, contest or dispute the validity, enforceability or secured status of any other Secured Party’s claims against any Obligor (other than any such claim resulting from a breach of this Agreement by a Secured Party, or any challenge, contest or dispute alleging arithmetical error in the determination of a claim), or that would have the effect of invalidating any such claim, or support any Person who takes any such action.

  • Challenge If Executive violates or challenges the enforceability of any provisions of the Restrictive Covenants or this Release, no further payments, rights or benefits under Section 5 of the Agreement will be due to Executive (except where such provision would be prohibited by applicable law, rule or regulation).

  • No Material Actions or Proceedings Except as disclosed in the Prospectus, there are no legal or governmental actions, suits or proceedings pending or, to the best of the Company’s knowledge, threatened (i) against or affecting the Company or any of its subsidiaries, (ii) which has as the subject thereof any officer or director of, or property owned or leased by, the Company or any of its subsidiaries or (iii) relating to environmental or discrimination matters, where in any such case (A) there is a reasonable possibility that such action, suit or proceeding might be determined adversely to the Company or such subsidiary and (B) any such action, suit or proceeding, if so determined adversely, would reasonably be expected to result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement. No material labor dispute with the employees of the Company or any of its subsidiaries exists or, to the best of the Company’s knowledge, is threatened or imminent.

  • Infringement Proceedings Each Party agrees to promptly notify the other Party of any unauthorized use of the other Party's Marks of which it has actual knowledge. Each Party will have the sole right and discretion to bring proceedings alleging infringement of its Marks or unfair competition related thereto; provided, however, that each Party agrees to provide the other Party with its reasonable cooperation and assistance with respect to any such infringement proceedings.