Delinquent Taxes. Subject to Borrower’s right to contest the following charges, Borrower fails to pay prior to delinquency taxes or assessments due on the Property or fails to pay when due any other charge that may result in a lien on the Property, and Borrower fails to cure such default within fifteen (15) days of date of delinquency, but in all events upon the imposition of any such tax or other lien.
Delinquent Taxes. With respect to each Initial Contract, as of the Closing Date, there is no lien against any related Financed Vehicle for delinquent taxes. With respect to each Subsequent Contract, as of the related Funding Date, there is no lien against any related Financed Vehicle for delinquent taxes.
Delinquent Taxes. In the event that the Owner allows its ad valorem taxes to become delinquent and fails to timely and properly follow the legal procedures for their protest and/or contest, this Agreement shall be subject to termination and so shall the abatement of the taxes for the tax year of the delinquency. The total taxes assessed without abatement for that tax year shall be paid within sixty (60) days from the date of termination. Penalty and interest shall not begin to accrue on the additional amount of taxes due as the result of recapture under this provision until the first day of the month following such sixty (60) day notice, at which time penalty and interest shall accrue in accord with the laws of the State of Texas. Penalty and interest on the amount of taxes originally levied based upon the Abatement shall, of course, begin to accrue as of the date such taxes were due in accord with the laws of the State of Texas.
Delinquent Taxes. Pay and charge Seller for any unpaid delinquent property taxes and/or penalties and interest thereon, and for any delinquent assessments or bonds against the Property.
Delinquent Taxes. Seller shall pay to the applicable tax authorities at or prior to the Closing all Taxes and assessments with respect to the Property which are delinquent as of the Closing.
Delinquent Taxes. In the event that the owner allows any ad valorem taxes to become delinquent on any property in Fort Bend District (whether abated or not) and fails to timely and properly follow the legal procedures for their protest and/or contest, the tax Abatement Agreement shall terminate and so shall the Abatement of the taxes for the tax year of the delinquency. The total taxes assessed without Abatement for that tax year, shall be paid within sixty (60) days from the date of the termination. If the District does not receive full payment within said 60 days, a penalty may be added, equal to 15% of the total amount abated.
Delinquent Taxes. Upon the occurrence of an Event of Default or upon notification from any taxing authority, or if any notice is received by Lender with respect to delinquent taxes outstanding, Borrower shall furnish Lender as requested with proof satisfactory of Borrower’s making payment or deposit of F.I.C.A. withholding and other taxes required of it by applicable law. Such proof shall be furnished within five days after the due date for each such payment or deposit. If Borrower fails to make any such payment or deposit when due or furnish such proof when due, Lender may, in its sole discretion, and without notice to Borrower (a) make payment of same or any part thereof, or (b) set up such additional reserves in Borrower’s account as may be necessary to satisfy the liability therefor. Each amount so paid or deposited by Lender shall constitute an Advance under this Agreement. The setting up of a reserve for making payment shall not constitute a waiver of any default under the terms of this Agreement, nor shall Lender be obligated to make such payments or set up reserves in the future.
Delinquent Taxes. In the event that the Owner allows its ad valorem tax obligation relating to any property located within Duval County to become delinquent, and fails to timely and properly follow the legal procedures for their protest and/or contest, then at County’s sole discretion this Agreement shall terminate and/or the Abatement of the taxes for the tax year of the delinquency shall be forfeited. The total taxes assessed without Abatement shall be paid within sixty (60) days from the date of such termination or forfeiture.
Delinquent Taxes. Prior to the execution and delivery of this Contract, the Developer shall pay to Shelby County and to the City all real estate taxes assessed to the Project Site that are then delinquent, together will all interest and penalties thereon.
Delinquent Taxes. Investor acknowledges and understands that Owner shall include as part of the Purchase Price the amount of any delinquent property taxes and property tax penalties due and owing in relation to the property as of the Effective Date, with such amount accruing interest at the Interest Rate as part of the Purchase Price. Investor acknowledges that Owner has engaged in a commercially reasonable search to identify any such delinquent taxes, however if such delinquent tax amounts are later discovered, such delinquent tax amounts may be considered a Standard Expense for which Investor is responsible under the provisions of this Agreement.
