Common use of PERSONAL PROPERTY TAX Clause in Contracts

PERSONAL PROPERTY TAX. Notwithstanding anything to the contrary contained in the Product Agreement, Lessor hereby appoints Lessee as its agent for the purpose of filing personal property tax returns. Lessee will pay the appropriate taxing jurisdiction for any personal property tax owed that is imposed against Lessee or Lessor in connection with the Equipment, together with any penalties, fines or interest thereon. Lessee agrees to pay when due and indemnify and hold Lessor harmless from and against Lessee's failure to remit payment of personal property tax owed (together with any related interest or penalties not arising from negligence on the part of Lessee) now or hereafter imposed or assessed against the Lessor or the Equipment by the relevant taxing jurisdiction. Lessee will cooperate with Lessor in obtaining all relevant documentation necessary to substantiate payment of such personal property tax if requested by Lessor.