Common use of Change in Taxes Clause in Contracts

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 any tax shall be due or become due and payable to the United States of America, the Commonwealth State of Pennsylvania Michigan 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 State of Pennsylvania Michigan 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 any tax shall be due or become due and payable to the United States of America, the Commonwealth State of Pennsylvania Ohio 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 State of Pennsylvania Ohio 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 that, by reason of changes in law or in the application or interpretation thereof, any tax (other than general income taxes and similar taxes based on income) shall be due or become due and payable to the United States of America, the Commonwealth of Pennsylvania Massachusetts 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 Loan Document or the interest of Mortgagee in the Mortgaged PremisesSecurity, Mortgagor shall, subject to Mortgagor's contest rights set forth in Section 4 above, which shall be applicable hereto, mutatis mutandis, 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 Notwithstanding the foregoing, in the event of the passage after the date of this Mortgage of any law that such tax shall be due or become due and payable as aforesaid in the Commonwealth of Pennsylvania deducting from the value of real property for purposes of taxation any lien thereonan amount greater than $150,000 and if Mortgagee shall require Mortgagor to make payment thereof or to indemnify Mortgagee as aforesaid, 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 Mortgagor shall have the right to declare prepay the entire unpaid amount of the Mortgage IndebtednessIndebtedness in full, together with accrued and unpaid interest thereon, to be due and payable on without paying 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 prepayment fee. If Mortgagor is not permitted by law to pay make such payments, the whole Indebtedness shall, at the option of such tax in addition to all other payments required thereunder and if MortgagorMortgagee, prior to such specified date, makes payment of such tax then become due and agrees payable upon one hundred eighty (180) days notice without Mortgagor being obligated to pay any a prepayment fee. Notwithstanding the foregoing, Mortgagee shall not require Mortgagor to pay such tax when thereafter levied taxes or assessed against to indemnify Mortgagee as aforesaid, nor will Mortgagee exercise its option to accelerate the Mortgaged PremisesIndebtedness pursuant to the preceding sentence, this Mortgageunless it is the policy of Mortgagee to enforce such rights generally (meaning that, over the Notes or any course of the other Loan Documents. OPEN-END MORTGAGEnumerous transactions, SECURITY AGREEMENT AND ASSIGNMENT OF RENTSMortgagee would more often than not elect to enforce such rights) in connection with similar commercial mortgage loans held by Mortgagee.

Change in Taxes. A. 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 Governmental Authority 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 Loan Documents or the interest of Mortgagee the Lender in the Mortgaged PremisesProperty, Mortgagor the Borrower shall pay such tax at the time and in the manner required by applicable law (without regard to whether any such tax is imposed in whole or in part on the Lender) and Mortgagor the Borrower shall and hereby agrees to hold Mortgagee harmless harmless, defend (with counsel acceptable to the Lender) and shall indemnify Mortgagee the Lender against any liability of any nature whatsoever as a result of the imposition of any such tax. In Notwithstanding the event foregoing, the Lender shall have the option of conducting its own defense with counsel of its own choice. Furthermore, the aforesaid indemnification agreement shall include, without limitation, attorneys' fees and expenses and court costs reasonably incurred by the Lender in connection with the imposition of any such taxes and the enforcement of said indemnification agreement. The Borrower shall not claim any credit on, or make any deduction from, the Obligations by reason of the passage payment of any such tax. B. If any Legal Requirement becomes effective 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 hereof changing (in any way manner) any of the laws now in force for present Legal Requirements as to the taxation of mortgages notes or debts secured thereby (including the interest thereon) by mortgages, for state federal, state, or local purposes, or changing the manner of collection of any such taxesImpositions, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or so as to affect any of the other Loan Documents, then, upon demand, the holder of this Mortgage Borrower shall have make such payments to the right Lender and take such other steps as may be necessary or desirable in the Lender's reasonable discretion, to declare place the entire unpaid amount Lender in the same financial position as it was in prior to any such enactment; failing which, at the option of the Mortgage IndebtednessLender and upon demand, together with accrued and unpaid interest thereon, to be the Loan Obligations shall become due and payable on a date to be specified by not less than 30 daysupon six (6) months' prior written notice to Mortgagorthe Borrower. In the event of any such acceleration of the Loan Obligations, providedprovided that a Loan Default has not occurred, however, that such election the Borrower shall not be effective if Mortgagor is permitted by law required to pay the whole Lender a Prepayment Fee. C. The indemnity provisions of such tax in addition to all other payments required thereunder this Section 6.20.03 shall survive the complete payment 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 performance of the other Loan Documents. OPEN-END MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTSObligations and the foreclosure of the Mortgage.

Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the Commonwealth State of Pennsylvania Indiana 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 State of Pennsylvania Indiana 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.