Common use of PERSONAL PROPERTY TAX Clause in Contracts

PERSONAL PROPERTY TAX. To insure Lessee's compliance with the provisions of the Lease with respect to the payment of personal property taxes on the Equipment described on this Schedule, Lessee hereby covenants and agrees that, unless otherwise directed in writing by Lessor or otherwise required by law, Lessee will list itself as owner of all Items of Equipment for property tax purposes. Except in those jurisdictions in which Lessor is required to list itself as owner of all such Items of Equipment, upon receipt by Lessee of any property tax ▇▇▇▇ pertaining to such Items of Equipment from the appropriate taxing authority, Lessee will promptly pay all such taxes when due. In those jurisdictions in which Lessor is required to list itself as owner of all such Items of Equipment, upon receipt by Lessee of any property tax ▇▇▇▇ pertaining to such Items of Equipment, Lessee will promptly forward to Lessor such property tax ▇▇▇▇ and related payment. Upon receipt by Lessor of any such property tax ▇▇▇▇ and related payment, Lessor will pay such tax.