Escrow of Taxes. 22 SECTION 7.3 Certain Statutory Liens ....................................................... 22 SECTION 7.4 Stamp and Other Taxes ......................................................... 22 SECTION 7.5 Certain Tax Law Changes ....................................................... 22 SECTION 7.6 Proceeds of Tax Claim ......................................................... 22
Escrow of Taxes. (a) In order to ensure the payment of all Taxes, Tenant agrees to deposit with any Landlord’s Mortgagee (defined below) requiring payment of Taxes to it in escrow or, if requested by Landlord following an Event of Default hereunder by Tenant, with Landlord, on the first day of each and every month during the Term, one-twelfth (1/12) of all Taxes for the ensuing 12-month period as reasonably estimated by Landlord or Landlord’s Mortgagee based on current bills for same (or, if unavailable, based on the previous year’s bills). Tenant shall deposit, at least 15 days prior to the first date on which any interest or penalty will accrue or be assessed for the nonpayment of any Taxes (“Due Date”), such additional amounts as may be necessary so that there shall be sufficient funds in such deposit account to pay each such Tax at least 15 days in advance of the Due Date thereof. If the total monthly deposits made by Tenant under this Exhibit F during any calendar year exceed the actual Taxes for such calendar year, Landlord or Landlord’s Mortgagee, as the case may be, shall retain such excess and credit it to Tenant’s future deposits under this Exhibit F (unless such adjustment is at the end of the Term, in which event Landlord shall refund such excess to Tenant as provided in Section 2(d) of this Exhibit F). If Tenant is required to escrow the payment of Taxes with Landlord as a result of an Event of Default by Tenant hereunder, Tenant shall no longer be required to escrow such Taxes with Landlord as a result of such Event of Default so long as Tenant fully cures such Event of Default and no other Event of Default occurs for a period of 12 months following the cure.
(b) If at any time the amount of any Tax is increased or Landlord or Landlord’s Mortgagee receives notice indicating that such Tax will be increased, and if the monthly deposits then being made by Tenant for this purpose would not make up a fund sufficient to pay such Tax 15 days prior to the Due Date, said monthly deposits shall thereupon be increased and Tenant shall, within 15 days following written notice of such increase, deposit with Landlord (or with Landlord’s Mortgagee, as the case may be) sufficient money so that the money then on hand for the payment of said Tax plus the increased one-twelfth (1/12) payments shall be sufficient to pay such Tax at least 15 days before the Due Date of such Tax.
(c) For the purpose of determining whether Landlord (or Landlord’s Mortgagee, as the case may be) has ...
Escrow of Taxes. From and after the occurrence and --------------- during the continuance of an Event of Default or a Default, at the option and upon the request of the Mortgagee, the Mortgagor shall deposit with the Mortgagee in an account maintained by the Mortgagee (the "Tax Escrow Fund"), on --------------- the first day of each month, an amount estimated by the Mortgagee to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1
Escrow of Taxes. From and after the occurrence of an Event of Default, at the option and upon the request of the Mortgagee and to the extent not required by the First Priority Trustee pursuant to the terms of the First Priority Indenture, the Mortgagor shall deposit with the Mortgagee in an account maintained by the Mortgagee (the "Tax Escrow Fund"), on the first day of each month, an amount estimated by the Mortgagee to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1
Escrow of Taxes. From and after the occurrence and during the continuance of an Event of Default or a Default, at the option and upon the request of the Beneficiary, the Grantor shall deposit with the Beneficiary in an account maintained by the Beneficiary (the “Tax Escrow Fund”), on the first day of each month, an amount estimated by the Beneficiary to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Grantor under Section 7.1 hereof. Such amounts shall be held by the Beneficiary without interest to the Grantor and applied to the payment of the obligations in respect of which such amounts were deposited, in such priority as the Beneficiary shall determine, on or before the respective dates on which such obligations or any part thereof would become delinquent. Nothing contained in this Article VII shall (i) affect any right or remedy of the Beneficiary under any provision hereof or of any statute or rule of law to pay any such amount as provided above from its own funds and to add the amount so paid, together with interest at the Default Rate during such time that any amount remains outstanding, to the Secured Obligations or (ii) relieve the Grantor of its obligations to make or provide for the payment of the annual real property taxes and other annual Charges required to be discharged by the Grantor under Section 7.1 hereof.
Escrow of Taxes. From and after the occurrence and during the continuance of an Event of Default or a Default, at the option and upon the request of the Beneficiary, the Grantor shall deposit with the Beneficiary in an account maintained by the Beneficiary (the "Tax Escrow Fund"), on the first day of each month, an amount estimated by the Beneficiary to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Grantor under Section 7.1
Escrow of Taxes. From and after the occurrence and during the continuance of an Event of Default or a Default, at the option and upon the request of the Mortgagee, the Mortgagor shall deposit with the Mortgagee in an account maintained by the Mortgagee (the “Tax Escrow Fund”), on the first day of each month, an amount estimated by the Mortgagee to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1 hereof. Such amounts shall be held by the Mortgagee without interest to the Mortgagor and applied to the payment of the obligations in respect of which such amounts were deposited, in such priority as the Mortgagee shall determine, on or before the respective dates on which such obligations or any part thereof would become delinquent. Nothing contained in this Article VII shall (i) affect any right or remedy of the Mortgagee under any provision hereof or of any statute or rule of law to pay any such amount as provided above from its own funds and to add the amount so paid, together with interest at the Default Rate during such time that any amount remains outstanding, to the Secured Obligations or (ii) relieve the Mortgagor of its obligations to make or provide for the payment of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1 hereof.
Escrow of Taxes. 18 SECTION 7.3. CERTAIN STATUTORY LIENS........................................ 18 SECTION 7.4. STAMP AND OTHER TAXES.......................................... 18 SECTION 7.5. CERTAIN TAX LAW CHANGES........................................ 18 SECTION 7.6. PROCEEDS OF TAX CLAIM.......................................... 18
Escrow of Taxes. From and after the occurrence and during --------------- the continuance of an Event of Default or a Default, at the option and upon the request of the Mortgagee, the Mortgagor shall deposit with the Mortgagee in an account maintained by the Mortgagee (the "Tax Escrow Fund"), on the first day of --------------- each month, an amount estimated by the Mortgagee to be equal to one-twelfth of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1 hereof. Such amounts shall be held ----------- by the Mortgagee without interest to the Mortgagor and applied to the payment of the obligations in respect of which such amounts were deposited, in such priority as the Mortgagee shall determine, on or before the respective dates on which such obligations or any part thereof would become delinquent. Nothing contained in this Article VII shall (i) affect any right or remedy of the ----------- Mortgagee under any provision hereof or of any statute or rule of law to pay any such amount as provided above from its own funds and to add the amount so paid, together with interest at the Default Rate during such time that any amount remains outstanding, to the Secured Obligations or (ii) relieve the Mortgagor of its obligations to make or provide for the payment of the annual real property taxes and other annual Charges required to be discharged by the Mortgagor under Section 7.1 hereof. -----------
Escrow of Taxes. INSURANCE
