Pursuant to Section 107 Sample Clauses
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Pursuant to Section 107. 6 of the California Revenue and Taxation Code, the CITY hereby advises, and ENCROACHER recognizes and understands, that should ENCROACHER’s use of Public Rights-of-Way create a possessory interest subject to property taxation, ENCROACHER may be subject to the payment of property taxes levied on such interest.
Pursuant to Section 107. 6 of the California Revenue and Taxation Code (“Code”), Lessor hereby notifies Lessee that: (i) a possessory interest with respect to the Premises is created and/or continued pursuant to the Lease (“Possessory Interest”) and is subject to property taxation under the Code; and (ii) Lessee shall be subject to, and shall bear, the payment of all property taxes and related charges and expenses attributable to all periods during the term of this Lease with respect to the Possessory Interest and Development Work (collectively, “Taxes”). Lessee acknowledges that the foregoing complies with Section 107.6 of the Code. Lessee shall indemnify, defend and hold harmless the Lessor against all Taxes which are payable by Lessee during the Term hereof pursuant to this Section 4.12.
Pursuant to Section 107. 6 of the State Revenue and Taxation Code the Landlord hereby gives notice that the property interest to Tenant under this Lease may be subject to property taxation as a possessory interest and the Tenant acknowledges that it shall be subject to payment of property tax if a possessory interest tax is levied on the property interest.
Pursuant to Section 107. 6 of the Revenue and Taxation Code, City hereby advises, and School recognizes and understands, that this Agreement may create a possessory interest subject to property taxation and that School may be subject to the payment of property taxes levied on such interest. School shall pay, prior to delinquency, all taxes assessed against and levied upon School’s possessory interest, if any.