Changes in Tax Law. In the event of the passage after the date of this Deed of Trust of any law in the State of Missouri, deducting from the value of real property for the purposes of taxation any lien thereon or changing in any way the laws for the taxation of mortgages or debts secured by mortgages for state or local purposes or in the manner of the collection of any such taxes, and imposing a tax, either directly or indirectly, on this Deed of Trust or the Note, the holder of this Deed of Trust and of the debt which it secures shall have the right to declare the Obligations due on a date to be specified by not less than thirty (30) days written notice to be given to Grantor by such holder, provided, however, that such election by the holder shall be ineffective if Grantor is permitted by law to pay the whole of such tax or is permitted by law to pay the whole of such tax in addition to all other payments hereunder and if Grantor, prior to such specified date, does pay such tax and agrees to pay any such tax when hereafter levied or assessed against the Mortgaged Premises, and such agreement shall constitute a modification to this Deed of Trust.
Changes in Tax Law. Any reference to a provision of the Code or a law of another jurisdiction shall include a reference to any applicable successor provision or law.
Changes in Tax Law. (a) Hydrocarbon shall not be obligated to consummate the Redemption; and neither Hydrocarbon nor Energy Partners shall be obligated to consummate the Merger if either of the following shall have occurred:
Changes in Tax Law. In the event of the passage after the date of this Mortgage of any Law deducting from the value of the Mortgaged Property, for the purpose of taxation, any lien thereon, or changing in any way the Laws now in force for the taxation of mortgages, or debts secured thereby, for state or local purposes, or the manner of the operation of any such taxes so as to affect the interest of Mortgagee, then and in such event, Mortgagor shall bear and pay the full amount of such taxes, provided that if for any reason payment by Mortgagor of any such new or additional taxes would be unlawful (including under Laws governing usury) Mortgagee may either declare the Secured Obligations, with interest thereon, to be immediately due and payable, or pay that amount or portion of such taxes as would be unlawful to require Mortgagor to pay, in which event Mortgagor shall concurrently therewith pay the balance of said taxes.
Changes in Tax Law. If the required contribution to Social Security exceeds the amount currently paid as of the effective date of this Agreement, minus the Medicare contribution, the Employer agrees to increase the 401(k) contribution to an amount at least equal to said Social Security contribution. Should changes in the tax law reduce this benefit, the Library agrees to negotiate the effects of such changes on this benefit.
Changes in Tax Law. In the event that (a) any modifications are made to the Code or any Regulations, (b) any changes occur in any case law applying or interpreting the Code or any Regulations, (c) the IRS changes or clarifies the manner in which it applies or interprets the Code or any Regulations or any case law applying or interpreting the Code or any Regulations or (d) the IRS adjusts the reporting of any of the transactions or allocations contemplated by this Agreement which, in each case, in the opinion of an independent tax counsel, requires allocations of items of income, gain, loss, deduction or credit or reporting of any of the transactions contemplated by this Agreement in a manner different from the allocations or reporting set forth in this Agreement, the Manager is hereby authorized to make new allocations or report any such transactions (as the case may be) in reliance on the opinion of such independent tax counsel, and such new allocations and reporting shall be deemed to be made pursuant to the fiduciary duty of the Manager to the Company and the other Members, and no such new allocation or reporting shall give rise to any claim or cause of action by any Member.
Changes in Tax Law. In the event of the passage after the date of this Mortgage of any Law deducting from the value of the Mortgaged Property, for the purpose of taxation, any lien thereon, or changing in any way the Laws now in force for the taxation of mortgages, or debts secured thereby, for state or local purposes, or the manner of the operation of any such taxes so as to affect the interest of Mortgagee, then and in such event, Mortgagor shall bear and pay the full amount of such taxes, provided that if for any reason payment by Mortgagor of any such new or additional taxes would be unlawful (including under the laws of usury) Mortgagee may pay that amount or portion of such taxes as would be unlawful to require Mortgagor to pay, in which event Mortgagor shall concurrently therewith pay the balance of said taxes.
Changes in Tax Law. In the event that, subsequent to the Closing Date, (1) any changes in any existing law, regulation, treaty or directive or in the interpretation or application thereof, (2) any new law, regulation, treaty or directive enacted or any interpretation or application thereof, or (3) compliance by Agent or any Lender with any request or directive (whether or not having the force of law) from any Governmental Authority, agency or instrumentality: (i) does or shall subject Agent or any Lender to any tax of any kind whatsoever with respect to this Agreement, the other Loan Documents or any Loans made or Lender Letters of Credit issued hereunder, or change the basis of taxation of payments to Agent or such Lender of principal, fees, interest or any other amount payable hereunder (except for net income taxes, or franchise taxes imposed in lieu of net income taxes, imposed generally by federal, state or local taxing authorities with respect to interest or commitment or other fees payable hereunder or changes in the rate of tax on the overall net income of Agent or such Lender); or (ii) does or shall impose on Agent or any Lender any other condition or increased cost in connection with the transactions contemplated hereby or participations herein; and the result of any of the foregoing is to increase the cost to Agent or any such Lender of issuing any Lender Letter of Credit or making or continuing any Loan hereunder, as the case may be, or to reduce any amount receivable hereunder, then, in any such case, Borrower shall pay to Agent or such Lender, within fifteen (15) days after notice and demand, any additional amounts necessary to compensate Agent or such Lender, on an after-tax basis, for such additional cost or reduced amount receivable, as determined by Agent or such Lender with respect to this Agreement or the other Loan Documents; PROVIDED, HOWEVER, that Borrower shall not be bound to compensate any Lender hereunder in respect of any claims arising more than six (6) months prior to the date any such demand is made. If Agent or such Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower of the event by reason of which Agent or such Lender has become so entitled. A certificate as to any additional amounts payable pursuant to the foregoing sentence submitted by Agent or such Lender to Borrower and Agent shall, absent manifest error, be presumptive evidence of the amount due and owing thereunder.
Changes in Tax Law. In the event of the passage after the date of this Mortgage of any Law deducting from the value of the Mortgaged Property, for the purpose of taxation, any lien thereon, or changing in any way the Laws now in force for the taxation of mortgages, or debts secured thereby, for state or local purposes, or the manner of the operation of any such taxes so as to affect the interest of Lender, then and in such event, Borrower shall bear and pay the full amount of such taxes, provided that if for any reason payment by Borrower of any such new or additional taxes would be unlawful (including under the laws of usury) Lender may pay that amount or portion of such taxes as would be unlawful to require Borrower to pay, in which event Borrower shall concurrently therewith pay the balance of said taxes.
Changes in Tax Law. In the event of the passage after the date of this Deed of Trust of any Law deducting from the value of the Mortgaged Property, for the purpose of taxation, any lien thereon, or changing in any way the Laws now in force for the taxation of mortgages or deeds of trust, or debts secured thereby, for state or local purposes, or the manner of the operation of any such taxes so as to affect the interest of Bank or any of them or Trustee, then and in such event, Grantor shall bear and pay the full amount of such taxes, provided that if for any reason payment by Grantor of any such new or additional taxes would be unlawful (including under the laws of usury) Bank may either declare the whole sum secured by this Deed of Trust, with interest thereon, to be immediately due and payable, or pay that amount or portion of such taxes as would be unlawful to require Grantor to pay, in which event Grantor shall concurrently therewith pay the balance of said taxes.
