How to read SharePoint Managed Metadata Look-up (Taxonomy Field) value using Client Object Model?

The below Console Application code explains you how to read SharePoint Managed Metadata Look-up (Taxonomy Field) value using Client Object Model.

using System;
using System.Text;
using Microsoft.SharePoint.Client;
using Microsoft.SharePoint.Client.Taxonomy;

namespace CSOMRnD
{
class Program
{
static void Main(string[] args)
{

using (ClientContext context = new ClientContext("SiteURL"))
{
context.ExecutingWebRequest += new EventHandler(clientContext_ExecutingWebRequest);
context.AuthenticationMode = ClientAuthenticationMode.Default;
context.Credentials = System.Net.CredentialCache.DefaultNetworkCredentials;

List list = context.Web.Lists.GetByTitle("ListName");

CamlQuery query = new CamlQuery();

query.ViewXml = "pass your query";

ListItemCollection items = list.GetItems(query);
context.Load(items);
context.ExecuteQuery();

foreach (ListItem item in items)
{
StringBuilder sb_ProductFieldValue = new StringBuilder();

TaxonomyFieldValueCollection taxProductFieldValueColl = item["Product"] as TaxonomyFieldValueCollection;

if (taxProductFieldValueColl != null)
{
foreach (TaxonomyFieldValue taxProductFieldValue in taxProductFieldValueColl)
{
if (taxProductFieldValue.Label.Trim() != null)
sb_ProductFieldValue.Append(taxProductFieldValue.Label + "|");
else
sb_ProductFieldValue.Append("Empty");
}
}
Console.WriteLine(sb_ProductFieldValue.ToString());
}
Console.ReadLine();
}
}

static void clientContext_ExecutingWebRequest(object sender, WebRequestEventArgs e)
{
e.WebRequestExecutor.WebRequest.Headers.Add("X-FORMS_BASED_AUTH_ACCEPTED", "f");
}

}
}