Common use of Control of Tax Proceedings Clause in Contracts

Control of Tax Proceedings. The Operating Partnership, shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) (unless, and only to the extent, that any taxes required to be paid by the Protected Partner as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating Partnership agrees in connection with such settlement or consent to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such Protected Partners and (ii) any potentially affected Protected Partner shall have the right to review and comment on any and all submissions made to the Internal Revenue Service, a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and the Operating Partnership will consider such comments in good faith.

Appears in 3 contracts

Sources: Tax Protection Agreement, Tax Protection Agreement (City Office REIT, Inc.), Tax Protection Agreement (City Office REIT, Inc.)

Control of Tax Proceedings. The Operating REIT, as the general partner of the Partnership, shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership REIT shall not consent Consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent Consent of the potentially affected Protected Partner(s) Partners (unless, and only to the extent, that any taxes required to be paid by the Protected Partner Partners as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating REIT under Article 4 and the Partnership agrees and the REIT agree in connection with such settlement or consent Consent, to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) Partners duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such the Protected Partners and (ii) any potentially affected that the Protected Partner Partners shall have the right to review and comment on any and all submissions made to the to Internal Revenue ServiceService (“IRS”), a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and that the Operating Partnership will consider such comments in good faith.

Appears in 3 contracts

Sources: Tax Protection Agreement, Tax Protection Agreement (Gc Net Lease Reit, Inc.), Tax Protection Agreement (Gc Net Lease Reit, Inc.)

Control of Tax Proceedings. The Operating PartnershipREIT, as the general partner of the Partnership shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership REIT shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) Partners (unless, and only to the extent, that any taxes required to be paid by the Protected Partner Partners as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating REIT under Article 4 and the Partnership agrees and the REIT agree in connection with such settlement or consent consent, to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) Partners duly informed of the progress thereof to the extent that such Tax Proceeding or Tax Claim could could, directly or indirectly indirectly, affect (adversely or otherwise) such the Protected Partners and (ii) any potentially affected that the Protected Partner Partners shall have the right to review and comment on any and all submissions made to the Internal Revenue ServiceIRS, a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and that the Operating Partnership will consider such comments in good faith. The Protected Partners shall have the right to participate in any such Tax Proceeding or Tax Claim at their own expense.

Appears in 2 contracts

Sources: Tax Protection Agreement (QTS Realty Trust, Inc.), Tax Protection Agreement (QTS Realty Trust, Inc.)

Control of Tax Proceedings. The Operating REIT, as the general partner of the Partnership, shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership REIT shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) Partners (unless, and only to the extent, that any taxes required to be paid by the Protected Partner Partners as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating REIT under Article 4 and the Partnership agrees and the REIT agree in connection with such settlement or consent consent, to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) Partners duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such the Protected Partners and (ii) any potentially affected that the Protected Partner Partners shall have the right to review and comment on any and all submissions made to the to Internal Revenue ServiceService (“IRS”), a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and that the Operating Partnership will consider such comments in good faith.

Appears in 2 contracts

Sources: Tax Protection Agreement (Gc Net Lease Reit, Inc.), Tax Protection Agreement (Gc Net Lease Reit, Inc.)

Control of Tax Proceedings. The Operating PartnershipREIT, as the general partner of the Partnership shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership REIT shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) Partners (unless, and only to the extent, that any taxes required to be paid by the Protected Partner Partners as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating REIT under Article 5 and the Partnership agrees and the REIT agree in connection with such settlement or consent consent, to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) Partners duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such the Protected Partners and (ii) any potentially affected that the Protected Partner Partners shall have the right to review and comment on any and all submissions made to the to Internal Revenue ServiceService ("IRS"), a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and that the Operating Partnership will consider such comments in good faith.

Appears in 1 contract

Sources: Tax Protection Agreement (Kite Realty Group Trust)

Control of Tax Proceedings. The Operating PartnershipREIT, as the general partner of the Partnership shall have the right to control the defense, settlement or compromise of any Tax Proceeding or Tax Claim; provided, however, that the Operating Partnership REIT shall not consent to the entry of any judgment or enter into any settlement with respect to such Tax Claim or Tax Proceeding that could result in tax liability to a Protected Partner without the prior written consent of the potentially affected Protected Partner(s) Partners (unless, and only to the extent, that any taxes required to be paid by the Protected Partner Partners as a result thereof would be required to be reimbursed by the Operating Partnership under this Agreement and the Operating REIT under Article 5 and the Partnership agrees and the REIT agree in connection with such settlement or consent consent, to make such required payments); provided further that the Operating Partnership shall keep the potentially affected Protected Partner(s) Partners duly informed of the progress thereof to the extent that such Proceeding or Tax Claim could directly or indirectly affect (adversely or otherwise) such the Protected Partners and (ii) any potentially affected that the Protected Partner Partners shall have the right to review and comment on any and all submissions made to the to Internal Revenue ServiceService (“IRS”), a court, or other governmental body with respect to such Tax Claim or Tax Proceeding and that the Operating Partnership will consider such comments in good faith.

Appears in 1 contract

Sources: Tax Protection Agreement (Kite Realty Group Trust)