Common use of Reduction of Taxes Clause in Contracts

Reduction of Taxes. Prior to the termination of this Agreement, the Developer will not (a) cause a reduction in the real property taxes paid in respect of the Development Property through willful destruction of the Facility or any part thereof; or (b) fail to reconstruct the Facility if damaged or destroyed, as required under Section 5.1(c) hereof.

Reduction of Taxes. Prior to the termination of this Agreement, the Developer will not (a) cause a reduction in the real personal property taxes paid in respect of the Development Property through willful destruction of the Facility or any part thereof; or (b) fail to reconstruct the Facility if damaged or destroyed, as required under Section 5.1(c) hereof.

Reduction of Taxes. Prior to the termination of this Agreement, the Developer will not (a) cause a reduction in the real property taxes paid in respect of the Development Property through willful destruction of the Facility Minimum Improvements or any part thereof; or (b) fail to reconstruct the Facility Minimum Improvements if damaged or destroyed, as required under Section 5.1(c) hereof.

Reduction of Taxes. Prior to the termination of this Agreement, the Developer will not (a) cause a reduction in the real property taxes paid in respect of the Development Property through willful destruction of the Facility Minimum Improvements or any part thereof; or (b) fail to reconstruct the Facility Minimum Improvements if damaged or destroyed, as required under Section 5.1(c) hereof.