Common use of Exemption of Property Clause in Contracts

Exemption of Property. In consideration of undertaking as described above, the School District hereby warrants, covenants and agrees that, for purposes of the solar energy system on the Property at issue, it shall consider and treat the solar energy system on the Property as exempt from real property taxes for each year covered by this Agreement, and that it will not take any action to challenge or otherwise change the tax exempt status of the Property under any applicable law during the term of this Agreement, except as otherwise provided in the PILOT (as hereinafter defined).

Exemption of Property. In consideration of undertaking as described above, the School District hereby warrants, covenants and agrees that, for purposes of the solar energy system on the Property at issue, it shall consider and treat the solar energy system on the Property as exempt from real property taxes for each year covered by this Agreement, and that it will not take any action to challenge or otherwise change the tax exempt status of the Property under any applicable law during the term of this Agreement, except as otherwise provided in the PILOT (as hereinafter defined)...