Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the Commonwealth of Pennsylvania or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness or the interest of Mortgagee in the Mortgaged Premises, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the passage after the date of this Mortgage of any law in the Commonwealth of Pennsylvania deducting from the value of real property for purposes of taxation any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage shall have the right to declare the entire unpaid amount of the Mortgage Indebtedness, together with accrued and unpaid interest thereon, to be due and payable on a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if Mortgagor is permitted by law to pay the whole of such tax in addition to all other payments required thereunder and if Mortgagor, prior to such specified date, makes payment of such tax then due and agrees to pay any such tax when thereafter levied or assessed against the Mortgaged Premises, this Mortgage, the Notes or any of the other Loan Documents. OPEN-END MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS
Change in Taxes. In the event of the passage of any law or regulation, state, federal or municipal, subsequent to the date of this Mortgage in any manner changing or modifying the laws now in force governing the taxation of mortgages or debts secured by mortgages, or the manner of collecting such taxes, the Debt shall become due and payable immediately at the option of the Mortgagee.
Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the Commonwealth of Massachusetts, the state or commonwealth of any Site or any political subdivision thereof with respect to the execution and delivery or recordation of the Portfolio Mortgages or any other Loan Document or the interest of Lender in the Portfolio Properties, Borrower shall pay such tax at the time and in the manner required by applicable law and Borrower shall hold Lender harmless and shall indemnify Lender against any liability of any nature whatsoever as a result of the imposition of any such tax (provided that in no case shall the foregoing apply to any income tax, franchise tax, or similar tax on the income or profits of Lender). In the event of the enactment, after the date of this instrument, of any law changing in any way the present law as to the taxation of notes or debts secured by mortgages, for Federal, State or local purposes, or the manner of collection of any Impositions, so as to affect this Loan Agreement, the Portfolio Mortgages or the Note secured thereby, then Borrower shall, within sixty (60) days from written demand, make such payments to Lender and take such other steps, as may be necessary in Lender’s reasonable judgment, to place Lender in the same financial position as it was prior to any such enactment, failing which, or if the Borrower is not permitted by law to make such payments, the Indebtedness shall, at the option of Lender, become due and payable one hundred and twenty (120) days after written notice to Borrower (provided that in no case shall the foregoing apply to any income tax, franchise tax, or similar tax on the income or profits of Lender).
Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State of Tennessee or any political subdivision thereof with respect to the execution and delivery or recordation of this Deed of Trust or any other Loan Document or the interest of Beneficiary in the Security except for taxes in the nature of income or franchise taxes, Grantor shall pay such tax at the time and in the manner required by applicable law and Grantor shall hold Beneficiary harmless and shall indemnify Beneficiary against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the enactment, after the date of this instrument, of any law changing in any way the present law as to the taxation of notes or debts secured by mortgages, for Federal, State, or local purposes (except for changes in income or franchise taxes), or the manner of collection of any Impositions, so as to affect this Deed of Trust or the Note secured hereby, then Grantor shall upon demand make such payments to Beneficiary and take such other steps, as may be necessary in Beneficiary’s reasonable judgment, to place Beneficiary in the same financial position as it was prior to any such enactment, failing which, or if the Grantor is not permitted by law to make such payments, the Indebtedness shall, at the option of Beneficiary, immediately become due and payable at par.
Change in Taxes. 19 7. Insurance ......................................................... 20 8. Insurance/Condemnation Proceeds ....................................24 9. Restoration Following Fire and Other Casualty or Condemnation....................................................26 10. Disposition of Condemnation or Insurance Proceeds ..........................................................
Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State or any political subdivision thereof with respect to the execution and delivery or recordation of this Deed of Trust or any other Loan Document or the interest of the Beneficiary in the Security, Grantor shall pay such tax at the time and in the manner required by applicable law and Grantor shall hold Beneficiary harmless and shall indemnify Beneficiary against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the enactment, after the date of this instrument, of any law changing in any way the present law as to the taxation of notes or debts secured by mortgages, for, Federal, State, or local purposes, or the manner of collection of any Impositions, so as to affect this Deed of Trust or the Notes secured hereby, then Grantor shall upon demand make such payments to Beneficiary and take such other steps, as may be necessary in Beneficiary's reasonable judgment, to place Beneficiary in the same financial position as it was prior to any such enactment, failing which, or if Grantor is not permitted by law to make such payments, the Indebtedness shall, at the option of Beneficiary, immediately become due and payable.
Change in Taxes. 19.2.1 If rates of any taxes, applicable to the income of the Operator, its Sub-Contractors (or their contractors) or their employees are increased, or a new tax is introduced, or an existing tax ceases to have effect, then the same will be to the account of the Operator and the Authority will not be liable for the same.
19.2.2 The Operator will not be required to pass on to the Authority any benefits of exemption, concessions, rebate, set off, credits etc. pertaining to taxes, duties, imposts, fees and levies in respect of the performance or arising out of performance of all or any of the obligations of the Operator under this Contract.
Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the Commonwealth of Massachusetts or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any other Loan Document or the interest of Mortgagee in the Security except for taxes in the nature of income or franchise taxes, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the enactment, after the date of this instrument, of any law changing in any way the present law as to the taxation of notes or debts secured by mortgages, for Federal, State, or local purposes (except for changes in income or franchise taxes), or the manner of collection of any Impositions, so as to affect this Mortgage or the Note secured hereby, then Mortgagor shall upon demand make such payments to Mortgagee and take such other steps, as may be necessary in Mortgagee’s reasonable judgment, to place Mortgagee in the same financial position as it was prior to any such enactment, failing which, or if the Mortgagor is not permitted by law to make such payments, the Indebtedness shall, at the option of Mortgagee, immediately become due and payable at par.
Change in Taxes. 29.2.1 If rates of any Direct Tax, applicable to the income of the O&M Operator, its Subcontractors (or their contractors) or their employees, are increased or decreased, or a new Direct Tax is introduced, or an existing Direct Tax ceases to have effect, then the same shall be to the account of the O&M Operator and the Owner shall not have any liability in this regard.
29.2.2 The rate of all Indirect Tax i.e., taxes, duties, levies, octroi, etc. payable and as mentioned under Part F of Annexure 2 (Contract Price) shall be as prevalent on [●]. In case of any statutory variation (upward or downward) in these taxes, duties, etc. or imposition of any new Indirect Taxes or withdrawal of existing Indirect Taxes under Applicable Law by any Government Agency during the Term of this Contract, the O&M Operator or the Owner, as the case may be, shall provide notice to the other, of such change in Indirect Taxes, setting forth the proposed amount of, and the relevant details and calculations relating to, such increase or decrease in the Contract Price along with relevant documentary evidence. Promptly upon, and in any event within 7 (seven) days of, the O&M Operator or the Owner, as the case may be, receiving such request (such date of receipt the "Change in Tax Request Date"), the Parties shall discuss such proposed increase or decrease, in good faith and within 90 (ninety) days of the Change in Tax Request Date, mutually agree upon a revised Contract Price. For the avoidance of doubt, it is clarified that any revision to the Contract Price would be restricted to direct transactions between the Parties.
29.2.3 If the Parties fail to agree upon a revision to the Contract Price, the matter shall be referred to a nationally recognized firm of auditors, mutually acceptable to the Parties. If the Parties cannot agree on a firm of auditors then, in the case of a disagreement relating to an increase in the Contract Price, Owner shall appoint a nationally recognized firm of auditors and in the case of a disagreement relating to a decrease in the Contract Price, the O&M Operator shall appoint a nationally recognized firm of auditors. The firm of auditors appointed under this Clause 29.2.3, shall within 90 (ninety) Days of such appointment, make a determination as to such proposed revision, which determination shall be binding on the Parties, save in the event of fraud or mistake as to material fact. Any such revised Contract Price shall be effective for payments to be made un...
Change in Taxes. If a change in taxes is specified in Schedule 2 and due to:
10.7.1 any action taken by a taxing authority or brought in a court of competent jurisdiction on or after the date on which a Transaction is entered into (regardless of whether that action is taken or brought with respect to a Party); or
