Common use of Exemption From General Ad Valorem Property Taxes Clause in Contracts

Exemption From General Ad Valorem Property Taxes. Based on the prior completion and filing of State Form RP-412-a Application For Real Property Tax Exemption ("Exemption Application") under Section 412-a of the State Real Prope1ty Tax Law and Section 874 of the Act, the Project has been exempt from real estate taxes commencing with the July 1, 2010 School year and the January 1, 2011 County and Town tax year. For the purposes of the foregoing "Real Estate Taxes" shall mean all general ad valorem real property taxes levied ·against the Project by the Taxing Jurisdictions. The Company shall provide the Agency the information necessary for the completion and filing of the Exemption Application and the Agency shall file the Exemption Application within thirty (30) days of the execution and delivery of this Agreement. Notwithstanding anything contained herein or in the Lease Agreement to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby agrees to pay, subject to the C(?mpany's right to challenge the underlying assessments on the Project pursuant to �10 hereof) all Real Estate Taxes levied upon the Project as they become due. After giving written notice to the Agency, the Company may in good faith contest the denial of the Exemption Application, provided that (i) the Project continues to qualify as a "project" under the Act; (ii) neither the Project nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or (iii) neither the Company nor the Agency, as a result of such contest, shall be in any danger of any civil or criminal liability. The Company hereby waives any claim or cause of action against the Agency, and releases the Agency from any liability to the Company, arising from the denial of an exemption from Real Estate Taxes except to the extent that such denial results solely from the failure of the Agency to timely file the Exemption Application with the appropriate assessors or Boards of Assessment Review by the Taxable Status Date.

Exemption From General Ad Valorem Property Taxes. Based on Subject to the prior completion and filing by March 1, 2020 ("Taxable Status Date") of the State Form RP-412-a Application For Real Property Prope1iy Tax Exemption ("Exemption Application") under Section 412-a of the State Real Prope1ty Property Tax Law and Section 874 of the Act, the Project has been Facility shall be exempt from real estate taxes commencing with the July 1I, 2010 2020 School year and the January 1I, 2011 2021 County and Town tax year. For the purposes of the foregoing "Real Estate Taxes" shall mean all general ad valorem real property taxes levied ·against the Project Facility by the Taxing Jurisdictions. The Company shall provide the Agency the information necessary for the completion and filing of the Exemption Application and the Agency shall file the Exemption Application within thirty (30) days of the execution and delivery of this Agreement. Notwithstanding anything contained herein or in the Lease Agreement and the Leaseback Agreement to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby agrees to pay, subject to the C(?mpanyCompany's right to challenge the underlying assessments on the Project Facility pursuant to �10 to� I 0 hereof) all Real Estate Taxes levied upon the Project Facility as they become due. After giving written notice to the Agency, the Company may in good faith contest the denial of the Exemption Application, provided that (i) the Project Facility continues to qualify as a "project" under the Act; (ii) neither the Project Facility nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or (iii) neither the Company nor the Agency, as a result of such contest, shall be in any danger of any civil or criminal liability. The Company hereby waives any claim or cause of action against the Agency, and releases the Agency from any liability to the Company, arising from the denial of an exemption from Real Estate Taxes except to the extent that such denial results solely from the failure of the Agency to timely file the Exemption Application with the appropriate assessors or Boards of Assessment Review by the Taxable Status Date.

Exemption From General Ad Valorem Property Taxes. Based on Subject to the prior completion and filing by March 1, 2008 ("Taxable Status Date") of the State Form RP-412-a Application For Real Property Tax tax Exemption ("''Exemption Application") under Section 412-a of the State Real Prope1ty Property Tax Law and Section 874 of the Act, the Project has been Facility shall be exempt from real estate taxes commencing with the July 1, 2010 School year and the January 1, 2011 2016 County and Town tax year, the 2015 Village tax year and the 2015 School year. For the purposes of the foregoing "Real Estate Taxes" shall mean all general ad valorem real property taxes levied ·against the Project Facility by the Taxing JurisdictionsJmisdictions. The Company shall provide the Agency the information necessary for the completion and filing of the Exemption Application and the Agency shall file the Exemption Application within thirty (30) days of the execution and delivery of this Agreement. Notwithstanding anything contained herein or in the Lease Agreement to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby agrees to pay, subject to the C(?mpanyCompany's right to challenge the underlying assessments on the Project Facility pursuant to �10 Section IO hereof) all Real Estate Taxes levied upon the Project Facility as they become due. After giving written notice to the Agency, the Company may in good faith contest the denial of the Exemption Application, provided that (i) the Project Facility continues to qualify as a "project" under the Act; (ii) neither the Project Facility nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or (iii) neither the Company nor the Agency, as a result of such contest, shall be in any danger of any civil or criminal liability. The Company hereby waives any claim or cause of action against the Agency, and releases the Agency from any liability to the Company, arising from the denial of an exemption from Real Estate Taxes except to the extent that such denial results solely from form the failure of the Agency to timely file the Exemption Application with the appropriate assessors or Boards of Assessment Review by the Taxable Status Date.

Exemption From General Ad Valorem Property Taxes. Based on Subject to the prior completion and filing filing.. by March 1, 2013 ("Taxable Status Date") of the State Form RP-412-a Application For Real Property Prope1iy Tax Exemption ("Exemption Application") under Section 412-a of the State Real Prope1ty Property Tax Law and Section 874 of the Act, the Project has been Facility shall be exempt from real estate taxes commencing with the July 1, 2010 1 School year and the January 1, 2011 1 County and Town tax year. For the purposes of the foregoing "Real Estate Taxes" shall mean all general ad valorem real property taxes levied ·against the Project Facility by the Taxing Jurisdictions. The Company shall provide the Agency the information necessary for the completion and filing of the Exemption Application and the Agency shall file the Exemption Application within thirty (30) days of the execution and delivery of this Agreement. Notwithstanding anything contained herein or in the Lease Agreement to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby ▇▇▇▇▇▇ agrees to pay, subject to the C(?mpanyCompany's right 1ight to challenge the underlying assessments on the Project Facility pursuant to �10 ,r10 hereof) all Real Estate Taxes levied upon the Project Facility as they become due. After giving written notice to the Agency, the Company may in good faith contest the denial of the Exemption Application, provided that (i) the Project Facility continues to qualify as a "project" under the Act; (ii) neither the Project Facility nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or (iii) neither the Company nor the Agency, as a result of such contest, shall be in any danger of any civil or criminal liability. The Company hereby waives any claim or cause of action against the Agency, and releases the Agency from any liability to the Company, arising from the denial of an exemption from Real Estate Taxes except to the extent that such denial results solely from the failure of the Agency to timely file the Exemption Application with the appropriate assessors or Boards of Assessment Review by the Taxable Status Date.

Exemption From General Ad Valorem Property Taxes. Based on Pursuant to a Payment In Lieu of Tax Agreement, by and between the prior completion Agency and filing of State Form RP-412-a Application For Real Property Tax Exemption ("Exemption Application") under Section 412-a of the State Real Prope1ty Tax Law and Section 874 of the ActEPT CONCORD II, LLC, dated October 21, 2013, the Project has been Facility is currently exempt from real estate taxes Real Estate Taxes with the exemption granted commencing with the July 1, 2010 2014 School year and the January 1, 2011 2015 County and Town tax year. For the purposes of the foregoing foregoing, "Real Estate Taxes" shall mean all general ad valorem real property taxes levied ·against the Project Facility by the Taxing Jurisdictions. The Company shall provide the Agency the information necessary for the completion and filing of the an exemption application relating to this PILOT Agreement (“Exemption Application Application”), and the Agency shall file the Exemption Application within thirty (30) days of the execution and delivery of this PILOT Agreement. Notwithstanding anything contained herein or in the Lease Agreement to Agency, dated the same date hereof by and between the Agency and the Company (“Lease Agreement”) and the Leaseback to Company, dated the same date hereof by and between the Agency and the Company (“Leaseback Agreement”) to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby agrees to pay, subject to the C(?mpanyCompany's right to challenge the underlying assessments on the Project Facility pursuant to �10 ¶6 hereof) all Real Estate Taxes levied upon the Project Facility as they become due. After giving written notice to the Agency, the Company may in good faith contest the denial of the Exemption Application, provided that (i) the Project Facility continues to qualify as a "project" under the Act; (ii) neither the Project Facility nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or (iii) neither the Company nor the Agency, as a result of such contest, shall be in any danger of any civil or criminal liability. The Company hereby waives any claim or cause of action against the Agency, Agency and releases the Agency from any liability to the Company, arising from the denial of an exemption from Real Estate Taxes Taxes, except to the extent that such denial results solely from the failure of the Agency to timely file the Exemption Application with the appropriate assessors or Boards of Assessment Review by the Taxable Status Date.