Common use of Changes in Tax, Debt, Credit and Documentary Stamp Laws Clause in Contracts

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Collateral (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty (180) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Collateral Property (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral Property (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty (180) days to declare the Debt immediately due and payablepayable (without payment of any Yield Maintenance Premium or other fee, payment or penalty).

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Collateral Properties (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral Properties (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty (180) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Collateral (or any portion thereof) Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral (or any portion thereof) (Property, other than an Excluded Tax)any income, franchise, gross receipts or similar taxes, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty ninety (18090) days to declare the Debt immediately due and payable, without premium or penalty.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Collateral (or any portion thereof) Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral Property, Lender shall give Borrower ten (or any portion 10) days’ written notice thereof) (other than an Excluded Tax), and Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than one two hundred eighty seventy (180270) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property the Collateral, the Senior Mezzanine Collateral (or any portion thereof) for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property, the Collateral (or any portion thereof) (other than an Excluded Tax)Collateral, the Senior Mezzanine Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty twenty (180120) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Collateral (or any portion thereof) Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral (or any portion thereof) (other than an Excluded Tax)Property, Individual Borrower will pay pay, or cause to be paid, the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it and reasonably acceptable to Individual Borrower that the payment of tax by Individual Borrower and/or Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty twenty (180120) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property, the Pledged Interests, or the other Collateral (or any portion thereof) for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest therein or in the Collateral (Property, the Pledged Interests, or any portion thereof) (other than an Excluded Tax)the Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than one hundred eighty ninety (18090) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Collateral Properties (or any portion thereof) for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Collateral Properties (or any portion thereof) (other than an Excluded Tax), Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty (180) days to declare the Debt immediately due and payablepayable (without payment of any Yield Maintenance Premium or other fee, payment or penalty).

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property the Mezzanine 1 Collateral or the Collateral (or any portion thereof) for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property, the Mezzanine 1 Collateral (or any portion thereof) (other than an Excluded Tax)the Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty twenty (180120) days to declare the Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any Individual Property the Collateral, the Other Senior Mezzanine Collateral (or any portion thereof) for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in any Individual Property, the Collateral (or any portion thereof) (other than an Excluded Tax)the Other Senior Mezzanine Collateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than one hundred eighty twenty (180120) days to declare the Debt immediately due and payable.