Common use of Contest of Certain Claims Clause in Contracts

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's or materialman's lien asserted against the Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the discharge of Borrower's obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of Lender, the Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the discharge of Borrower's ’s obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the reasonable opinion of Lender, the Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower Borrowers may contest the validity of Taxes or any mechanic's ’s or materialman's ’s or other lien asserted against the Project so long as (a) Borrower notifies Lender Borrowers notify Administrative Agent that it intends they intend to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Borrowers provide Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's Borrowers’ obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is Borrowers are diligently contesting the same by appropriate legal proceedings in good faith and at its their own expense and concludes conclude such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is are scheduled to be sold for non-payment, and (d) Borrower Borrowers promptly upon final judicial determination thereof pays pay the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding . Notwithstanding the foregoing, Borrower Borrowers shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the any Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender Administrative Agent may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of LenderAdministrative Agent, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the any Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the discharge of Borrower's ’s obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the such Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of Lender, the such Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the any Project so long as (a) Borrower notifies Lender Administrative Agent that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's ’s obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the any Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender Administrative Agent may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of LenderAdministrative Agent, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the discharge of Borrower's ’s obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of Lender, the Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the any Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the discharge of Borrower's ’s obligations for such Taxes or lienslens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the such Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of Lender, the such Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower Borrowers may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the any Project so long as (a) Borrower notifies Lender Borrowers notify Administrative Agent that it intends they intend to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Borrowers provide Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's Borrowers’ obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is Borrowers are diligently contesting the same by appropriate legal proceedings in good faith and at its their own expense and concludes conclude such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is scheduled to be sold for non-payment, (d) Borrower Borrowers promptly upon final determination thereof pays pay the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower Borrowers shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the any Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender Administrative Agent may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of LenderAdministrative Agent, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the Project so long as (a) Borrower notifies Lender Administrative Agent that it intends they intend to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's ’s obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes conclude such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the Project is scheduled to be sold for non-payment, payment and (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding . Notwithstanding the foregoing, Borrower shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower Borrowers may contest the validity of Taxes or any mechanic's ’s or materialman's ’s lien asserted against the any Project so long as (a) Borrower notifies Lender Borrowers notify Administrative Agent that it intends they intend to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Borrowers provide Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's Borrowers’ obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is Borrowers are diligently contesting the same by appropriate legal proceedings in good faith and at its their own expense and concludes conclude such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is scheduled to be sold for non-payment, payment and (d) Borrower Borrowers promptly upon final determination thereof pays pay the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding . Notwithstanding the foregoing, Borrower Borrowers shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the any Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower Borrowers may contest the validity of Taxes or any mechanic's ’s or materialman's ’s or other lien asserted against the Project Projects so long as (a) Borrower notifies Lender Borrowers notify Administrative Agent that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Borrowers provide Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's Borrowers’ obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is Borrowers are diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is scheduled to be sold for non-payment, and (d) Borrower Borrowers promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding . Notwithstanding the foregoing, Borrower Borrowers shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the Project Projects or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.

Contest of Certain Claims. Borrower Borrowers may contest the validity of Taxes or any mechanic's ’s or materialman's ’s or other lien asserted against the Project so long as (a) Borrower notifies Lender Borrowers notify Administrative Agent that it intends they intend to contest such Taxes or liens, as applicable, (b) Borrower provides Lender Borrowers provide Administrative Agent with an indemnity, bond or other security reasonably satisfactory to Lender Administrative Agent assuring the discharge of Borrower's Borrowers’ obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is Borrowers are diligently contesting the same by appropriate legal proceedings in good faith and at its their own expense and concludes conclude such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the any Project is are scheduled to be sold for non-payment, and (d) Borrower Borrowers promptly upon final judicial determination thereof pays pay the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding . Notwithstanding the foregoing, Borrower Borrowers shall immediately upon request of Lender Administrative Agent pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of LenderAdministrative Agent, the any Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender Administrative Agent may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of LenderAdministrative Agent, the entitlement of such claimant is established.. 118

Contest of Certain Claims. Borrower may contest the validity of Taxes or any mechanic's or materialman's lien asserted against the Project so long as (a) Borrower notifies Lender that it intends to contest such Taxes or liens, as applicable, (b) Borrower provides Lender with an indemnity, bond or other security reasonably satisfactory to Lender assuring the LOAN AGREEMENT Page 40 Equity Inns- ____________ Loan No. ________________ discharge of Borrower's obligations for such Taxes or liens, as applicable, including interest and penalties, (c) Borrower is diligently contesting the same by appropriate legal proceedings in good faith and at its own expense and concludes such contest prior to the tenth (10th) day preceding the earlier to occur of the Maturity Date or the date on which the Project is scheduled to be sold for non-payment, (d) Borrower promptly upon final determination thereof pays the amount of any such Taxes or liens, as applicable, together with all costs, interest and penalties which may be payable in connection therewith, and (e) notwithstanding the foregoing, Borrower shall immediately upon request of Lender pay any such Taxes or liens, as applicable, notwithstanding such contest if, in the opinion of Lender, the Project or any part thereof or interest therein may be in danger of being sold, forfeited, foreclosed, terminated, canceled or lost. Lender may pay over any cash deposit or part thereof to the claimant entitled thereto at any time when, in the reasonable judgment of Lender, the entitlement of such claimant is established.