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Common use of Impositions Clause in Contracts

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 3 contracts

Samples: Lease Agreement (Network Appliance Inc), Lease Agreement (Network Appliance Inc), Lease Agreement (Network Appliance Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Improvements Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 3 contracts

Samples: Lease Agreement (Network Appliance Inc), Lease Agreement (Network Appliance Inc), Lease Agreement (Network Appliance Inc)

Impositions. Subject only 3.2.1 Except as otherwise set forth in the Lease, Mortgagor shall pay, not later than one day prior to the exceptions listed date such Impositions become delinquent, all real estate taxes, personal property taxes, general and special assessments, water and sewer rents and charges, license fees, all charges which may be imposed for the use of vaults, chutes, areas and other space beyond the lot line and abutting the public sidewalks in subparagraph 5.(dfront of or adjoining the Property, and all other governmental levies and charges (collectively, the "Impositions") belowof every kind and nature whatsoever, NAI general and special, ordinary and extraordinary, foreseen and unforeseen, which shall be assessed, levied, confirmed, imposed or become a lien upon or against the Property or any part thereof, or which shall become due and payable with respect thereto, unless contested in good faith as permitted by the Lease. Mortgagor shall deliver to Mortgagee [i] not more than five days after the delinquency date of each Imposition, a copy of the invoice for such Imposition and the check delivered for payment thereof; and [ii] not more than 30 days after the delinquency date of each Imposition, a copy of the official receipt evidencing such payment or other proof of payment satisfactory to Mortgagee. If any law of any government having jurisdiction over the Property is enacted after this date [i] deducting from the value of land for the purpose of taxation any lien thereon; [ii] imposing upon Mortgagee the payment of the whole or any part of the Imposition which is required to be paid by Mortgagor hereunder; or [iii] changing in any way laws relating to the taxation of deeds of trust or debts secured by deeds of trust or mortgage interests in the Property, or the manner of collection of taxes, in any such case, so as to affect this Mortgage or the Secured Obligations, then Mortgagor, upon 30 days' notice from Mortgagee, shall pay such Imposition or reimburse Mortgagee therefor. 3.2.2 Mortgagor shall pay, or reimburse Mortgagee for, all sales taxes, intangible taxes, mortgage taxes, gross receipts taxes, documentary stamp taxes, mortgage assignment taxes, transfer taxes and similar taxes imposed on Mortgagee relating to the Secured Obligations, Note, this Mortgage, or the indebtedness secured by this Mortgage. At the direction of Mortgagee, Mortgagor shall pay or cause reimburse Mortgagee for such taxes 30 days after Mortgagee gives notice to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even PriceMortgagor.

Appears in 3 contracts

Samples: Leasehold Mortgage (Emeritus Corp\wa\), Leasehold Mortgage (Emeritus Corp\wa\), Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Emeritus Corp\wa\)

Impositions. Subject only 14.01 Grantor and Grantee acknowledge and agree that it is their mutual objective and intent to (i) minimize, to the exceptions listed in subparagraph 5.(d) belowextent feasible, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property administrative expenses associated with and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC the aggregate Impositions payable with receipts showing payment of all Impositions prior respect to the applicable delinquency date therefor. Notwithstanding Grantor System and the foregoing, NAI may Grantee Fibers and (ii) share such Impositions according to their respective interests in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted ImpositionGrantor System and the Grantee Fibers, and pending that they will cooperate with each other and coordinate their mutual efforts to achieve such contest NAI shall not be deemed objectives in default under any of accordance with the provisions of this Land Lease because Article. 14.02 Grantor shall be responsible for and shall timely pay any and all Impositions with respect to the construction or operation of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Grantor System which Impositions must be paid by NAI are imposed or assessed prior to the earlier Acceptance Date of a Segment. Notwithstanding the foregoing obligations, Grantor shall have the right to challenge any such Impositions so long as the challenge of such Impositions does not materially adversely affect the rights to be delivered to Grantee pursuant hereto. 14.03 Following the Acceptance Date for each Grantor System and except with respect to Impositions constituting ad valorem property taxes levied against the Grantee Fibers (which are addressed in Section 14.04 below), Grantor shall timely pay any and all Impositions imposed upon or with respect to each Grantor System to the extent such Impositions have not been or may not feasibly be separately assessed or imposed upon or against the respective interests of Grantor and Grantee in such Grantor System. Upon receipt of a notice of any such Imposition, Grantor shall promptly notify Grantee of such Imposition and Grantee shall pay or reimburse Grantor for its proportionate share of such Imposition, which share shall be determined (i) to the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directorsextent possible, officers or employees because based upon the manner and methodology used by the particular Governmental Authority imposing such Imposition (e.g., on the cost of the nonpayment thereof relative property interests, historic or projected revenue derived therefrom, or any combination thereof); or (ii) if the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may same cannot be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because so determined, then based upon Grantee's proportionate share of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest total fiber count in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) affected portion of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even PriceGrantor System.

Appears in 2 contracts

Samples: Licensing Agreement (Teligent Inc), Licensing Agreement (Teligent Inc)

Impositions. Subject only to Section 9 hereof relating to contests, Lessee will pay all Impositions on or before the exceptions listed in subparagraph 5.(d) belowdue date thereof, NAI shall pay and will furnish to Lessor for inspection within 30 days after written request by Lessor, official receipts of the appropriate taxing authority or cause other proof satisfactory to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Lessor evidencing such payment of Impositions. If requested by BNPLC law any Imposition may be paid in installments, Lessee shall be entitled to pay in those installments as they become due from time to time; and any Imposition relating to any tax, NAI accounting or other fiscal period of the taxing authority, part of which is included within the term of this Lease and a part of which extends beyond such term shall furnish BNPLC with receipts showing payment be apportioned between Lessor and Lessee as of all Impositions prior the expiration of the term of this Lease; provided, however, that Lessor shall be permitted to offset any amounts which it would otherwise be required to pay to Lessee as a result of such apportionment against any Basic Rent and/or Additional Rent which is due and owing to Lessor as of the applicable delinquency date thereforof such apportionment. Notwithstanding the foregoing, NAI in the event a notice of Imposition is delivered to Lessor but not to Lessee, Lessor shall promptly forward such notice to Lessee so that Lessee may pay such Imposition in good faitha timely manner as provided herein, by appropriate proceedingsIf Lessor receives such a notice of Imposition more than 15 Business Days prior to the due date thereof and fails to deliver such notice to Lessee on or before the fifth Business Day prior to the due date thereof, contest and as a result of such failure, Lessee is unable to pay such Imposition in a timely fashion, Lessee shall be permitted to offset against the validitynext succeeding installments of Quarterly Rent any interest, applicability penalties, fines or amount other costs which it is required to pay as a result of any asserted the late payment of the Imposition, and pending such contest NAI The provisions of the preceding sentence shall not be deemed applicable in the event Lessee receives notice of such Imposition from a source other than Lessor or its constituent venturers prior to the due date thereof. Lessee shall not be in default under hereunder for failure to pay any of impositions on or before the provisions of this Land Lease because of due date thereof if Lessee did not receive notice thereof at least five Business Days prior to the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes finaldue date thereof; provided, however, that in any event each such contest event, Lessee shall be concluded and required to pay such Imposition within ten Business Days following receipt of such notice (unless such Imposition is being properly contested in accordance with the contested Impositions must be paid by NAI prior provisions of Section 9 hereof). Lessor agrees to cooperate (at Lessee's expense) with Lessee in Lessee's efforts to minimize impositions with respect to the earlier Property, including the filing of (i) exemptions and other actions, so long as Lessor believes that such efforts are reasonable under the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directorscircumstances. Lessor shall, officers or employees because at the request of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC Lessee, forward to Lessee copies of all relevant documentation (including copies of returns) in Lessor's possession, or the possession of Lessor's agents, representatives or constituent joint venturers, relating to Impositions on the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 2 contracts

Samples: Timber Lease (Tenneco Inc /De), Timber Lease (New Tenneco Inc)

Impositions. Subject only (a) Promptly following each payment by Tenant of Impositions in accordance with this Lease, except to the exceptions listed in subparagraph 5.(dextent (with respect to any Tenant Option Property) belowthat Tenant is making such payments as part of Installment Expenses pursuant to Section 4.4 rather than making such payments directly, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI Tenant shall furnish BNPLC with to Landlord copies of official receipts showing payment or other proof reasonably satisfactory to Landlord evidencing such payment. For the avoidance of all doubt, Tenant’s obligation to pay Impositions prior (whether such payments are made directly to the applicable delinquency taxing authorities or, following the Partial Property Termination Date with respect to any Tenant Option Property, as part of Installment Expenses pursuant to Section 4.4) shall be absolutely fixed upon the date thereforsuch Impositions become a lien upon the Demised Premises or any part thereof during the Term, subject to the proviso in the immediately succeeding sentence and Section 4.2. Notwithstanding Tenant shall also be responsible for all Impositions which, on the foregoingCommencement Date, NAI may in good faith, by appropriate proceedings, contest are liens upon the validity, applicability Demised Premises or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes finalpart thereof; provided, however, in any event each such contest that notwithstanding anything to the contrary herein, Landlord shall be concluded and the contested responsible for all Impositions must be paid by NAI attributable to any period occurring prior to the earlier of (iCommencement Date pursuant to Section 4.1(f) below. If any Imposition may, at the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because option of the nonpayment thereof taxpayer, lawfully be paid in installments, whether or (ii) not interest shall accrue on the date any writ or order is issued under which any property owned or leased by BNPLC (including unpaid balance of such Imposition, Tenant may pay the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereofsame, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made accrued interest on the unpaid balance of such Imposition, in installments as the same respectively become due and before any fine, penalty, premium, further interest or cost may be added thereto. (b) During the Term, Landlord shall prepare and file or cause to be prepared and filed all tax returns and reports as may be required by NAI Legal Requirements with respect to Landlord’s net income, gross receipts, franchise taxes and taxes on its capital stock and any other returns required to be filed by or in the name of Landlord (the “Landlord Tax Returns”), and Tenant, Tenant’s Parent and/or Lease Guarantor shall prepare and file all tax returns and reports that are required to be filed pursuant to Paragraph 1(A)(2any Legal Requirements with respect to or relating to the Demised Premises, Tenant’s Property and the respective other assets, properties and business operations of Tenant (other than any such amounts that are described in the exclusions set forth in Section 4.3). (c) Any refund due from any taxing authority in respect of any Imposition paid by or on behalf of Tenant shall be paid over to and may be retained by Tenant, net of all of Landlord’s Cost and Expenses incurred in connection with assisting Tenant in obtaining such refund (to the extent Tenant requested such assistance). (d) Each of Landlord and Tenant shall, upon the written request of the Purchase Agreementother Party, in provide such data as may be maintained by the case of a purchase by an Applicable Purchaser) equal Party to whom such request is made with respect to the Break Even Price.Demised Premises as may be necessary to prepare any required tax returns and/or reports. If any portion of any Demised Premises shall be classified as personal property for tax purposes, then Tenant shall file all personal property tax returns in such jurisdictions where the same must legally be filed. Each of Landlord and Tenant shall, to the extent such Party possesses the same, provide to the other Party, promptly following such Party’s written request, such cost and depreciation records necessary for filing tax returns for any property so classified as personal

Appears in 2 contracts

Samples: Retail Master Lease (Copper Property CTL Pass Through Trust), Retail Master Lease (J C Penney Co Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) below, NAI shall Borrower will pay or cause to be paid all taxes, insurance premiums, assessments, water and sewer rates, ground rents, fees and other charges (collectively, the “Impositions”) that at any time may be assessed, levied, confirmed or imposed or that may become a Lien upon the Collateral, or any portion thereof, or that are payable with respect thereto, prior to delinquency all ad valorem taxes assessed against delinquency, before any fine, penalty or interest may be added for non-payment and before the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount commencement of any asserted Impositionaction to foreclose any Lien against all or any portion of the Collateral with respect thereto. Borrower will deliver to Lender, and pending upon request, copies of official receipts or other satisfactory proof evidencing such contest NAI payments. Borrower shall not be deemed in default under entitled to any credit against the Secured Obligations by reason of the provisions payment of this Land Lease because any Imposition. Upon the occurrence of an Event of Default (hereinafter defined), and at Xxxxxx’s sole option at any time thereafter, Borrower shall pay in addition to each monthly payment under the Note, one-twelfth of the Imposition if Impositions payable during each year (1) NAI diligently prosecutes such contest to completion as estimated by Xxxxxx in a manner reasonably satisfactory to BNPLCits sole discretion), and (2) NAI promptly causes to be paid held by Lender without interest to Borrower, for the payment of such obligations. If the amount of such additional payments held by Lender (the “Funds”) at the time of the annual accounting thereof shall exceed the amount deemed necessary by Lender to provide for the payment of Impositions as they fall due, such excess shall be at Borrower’s option, either repaid to Borrower or credited to Borrower on the next monthly installment or installments of Funds due. If at any time the amount of the Funds held by Lender shall be less than the amount deemed necessary by Lender to pay Impositions as they fall due, Borrower shall pay to Lender any amount adjudged by a court of competent jurisdiction necessary to be due, with all costs, penalties and interest thereon, promptly make up the deficiency within 30 days after such judgment becomes final; provided, howevernotice from Lender to Borrower requesting payment thereof. Lender may apply, in any event each such contest amount and in any order as Lender shall be concluded and determine in Xxxxxx’s sole discretion, any Funds held by Xxxxxx at the contested Impositions must be paid by NAI prior to the earlier time of application (i) the date that any criminal prosecution is instituted to pay Impositions which are now or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof will hereafter become due or (ii) as a credit against the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because Secured Obligations. Upon payment in full of the nonpayment thereofSecured Obligations, or (iii) Lender shall refund to Borrower any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made Funds held by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even PriceLender.

Appears in 1 contract

Samples: Commercial Deed of Trust (Ensign Group, Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d5(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 1 contract

Samples: Lease Agreement (Network Appliance Inc)

Impositions. Subject only (a) During the Basic Lease Term, Lessee agrees to the exceptions listed in subparagraph 5.(d) below, NAI shall pay when due without penalty or cause to be paid prior to delinquency interest all ad valorem taxes assessed Impositions imposed upon or levied against the Property and other ImpositionsLeased Property. If requested by BNPLC from time Any tax relating to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount a fiscal period of any asserted Impositiontaxing authority falling partially within and partially outside the Basic Lease Term, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded apportioned and adjusted between Lessor and Lessee. Lessee covenants to furnish Lessor and Administrative Agent, upon Lessor’s or Administrative Agent’s request, within forty-five (45) days after the contested Impositions last date when any Imposition must be paid by NAI Lessee, official receipts of the appropriate taxing, authority or other proof satisfactory to Lessor and Administrative Agent, evidencing the payment thereof. (b) With the prior to written consent of Lessor, made in its sole discretion, and Administrative Agent, made at the earlier direction of the Required Lenders, Lessee may defer payment of an Imposition so long as (i) the date that any criminal prosecution validity or the amount thereof is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or contested by Lessee with diligence and in good faith; (ii) the date commencement and continuation of such proceedings shall suspend the collection thereof from, and suspend the enforcement thereof against, Lessor, Administrative Agent and the Leased Property, (iii) no part of the Leased Property nor any writ Basic Rent or order is issued under which Supplemental Rent shall be in danger of being sold, forfeited, attached or lost, (iv) there shall not exist because of such contest (x) any property owned or leased by BNPLC (including interference with the Property) may be seized or sold use and occupancy of the Leased Property or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment part thereof, or (iiiy) any Designated Sale Date upon whichinterference with the payment of Basic Rent or Supplemental Rent (other than the portion subject to the contest), for any reason(v) Lessee shall promptly prosecute such contest to a final settlement or conclusion, NAI or an Affiliate if Lessee deems it advisable to abandon such contest, Lessee shall promptly pay or perform the obligation which was the subject of NAI such contest, and (vi) at no time during the permitted contest shall there be a risk of the imposition of criminal liability on Lessor, Administrative Agent or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant Indemnitee for failure to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Pricecomply therewith.

Appears in 1 contract

Samples: Lease Agreement (Lennox International Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d5(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Improvements Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 1 contract

Samples: Lease Agreement (Network Appliance Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d(a) below, NAI Mortgagor shall pay or cause to be paid prior paid, before any fine, penalty, interest or cost attaches thereto, all of the Ground Rents and Impositions, including, without limitation, any sales tax due in connection with the Ground Rents, as well as all claims for labor, materials or supplies that, if unpaid, might by law become lien on the Mortgaged Property, and shall submit to delinquency all ad valorem taxes assessed against Mortgagee such evidence of the Property due and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing punctual payment of all such Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI and claims as may in good faith, be required by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes finallaw; provided, however, in that if by law any event each such contest shall be concluded and the contested Impositions must Imposition may be paid in installments (whether or not interest shall accrue on the unpaid balance thereof), Mortgagor may pay the same installments (together with accrued interest on the unpaid balance thereof) as the same respectively become due, before any fine, penalty, interest or cost attaches thereto. (b) Mortgagor at its expense may, after prior notice to Mortgagee, contest by NAI prior to appropriate legal, administrative or other proceedings conducted in good faith and with due diligence, the earlier amount or validity or application, in whole or in part, of any Imposition or lien therefor or any claims or mechanics, materialmen, suppliers or vendor or liens thereof, and may withhold payment of the same pending such proceedings if permitted by law, as long as (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaserany Impositions or lien therefor or any claims of mechanics, materialmen, suppliers or vendors or liens thereof, such proceedings shall suspend the collection thereof from the Mortgaged Property, (ii) equal neither the Mortgage Property nor any part thereof or interest therein will be sold, forfeited or lost if Mortgagor pays the amount or satisfies the condition being contested, and Mortgagor would have the opportunity to do so, in the event of Mortgagor's failure to prevail in the contest, (iii) Mortgagee would xxx, xx virtue of such permitted contest, be exposed to any risk of any civil liability for which Mortgagor has not furnished additional security as provided in clausx (xx) xxlow, or to any risk of criminal liability, and neither the Mortgaged Property nor any interest therein would be subject to the Break Even Priceimposition of any lien for which Mortgagor has not furnished additional security as provided in clausx (xx) xxlow, as a result of the failure to comply with such law or of such proceeding and (iv) Mortgagor shall have furnished to Mortgagee additional security in respect of the claim being contested or the loss or damage that may result from Mortgagor's failure to prevail in such contest in such amount as may xx xxxxxnably requested by Mortgagee, but in no event less than one hundred twenty-five percent (125%) of the amount of such claim.

Appears in 1 contract

Samples: Open End Mortgage (Glimcher Realty Trust)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) below, NAI FCI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI FCI shall furnish BNPLC with receipts showing payment of all Impositions at least ten days prior to the applicable delinquency default date therefor. Notwithstanding the foregoing, NAI FCI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI FCI shall not be deemed in default under any of the provisions of this Land Lease hereunder because of the Imposition if (1) NAI FCI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI FCI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI FCI prior to the earlier of (i) the date that any criminal prosecution action is instituted or overtly threatened or instituted against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken or overtly threatened against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI FCI or an Affiliate of NAI FCI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a net price to BNPLC (when taken together with any additional payments made by NAI FCI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to Stipulated Loss Value, or (iv) any date upon which the Break Even PriceConstruction Management Agreement or this Lease or FCI's Initial Remarketing Rights and Obligations may be terminated because of or following any Issue 97-10 Election.

Appears in 1 contract

Samples: Lease Agreement (Solectron Corp)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d5.(e) below, NAI SGC shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI SGC shall furnish BNPLC with receipts showing payment of all Impositions at least ten days prior to the applicable delinquency default date therefor. Notwithstanding the foregoing, NAI SGC may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI SGC shall not be deemed in default under any of the provisions of this Land Lease hereunder because of the Imposition if (1) NAI SGC diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI SGC promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI SGC prior to the earlier of (i) the date that any criminal prosecution action is instituted or overtly threatened or instituted against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken or overtly threatened against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI SGC or an Affiliate of NAI SGC or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a net price to BNPLC (when taken together with any additional payments made by NAI SGC pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to Stipulated Loss Value, or (iv) any date upon which the Break Even PriceConstruction Management Agreement or this Lease or SGC's Initial Remarketing Rights and Obligations may be terminated because of or following any Issue 97-10 Election.

Appears in 1 contract

Samples: Lease Agreement (Solectron Corp)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Improvements Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.payments

Appears in 1 contract

Samples: Lease Agreement (Network Appliance Inc)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d(a) below, NAI The Mortgagor shall pay or cause to be paid prior paid, before any fine, penalty, interest or cost attaches thereto, all of the Impositions, including, without limitation, any ground rents due under any ground lease agreements, if applicable, as well as all claims for labor, materials or supplies that, if unpaid, might by law become a lien on the Mortgaged Estate, and shall submit to delinquency all ad valorem taxes assessed against Mortgagee such evidence of the Property due and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing punctual payment of all such Impositions prior to the applicable delinquency date therefor. Notwithstanding the foregoing, NAI and claims as may in good faith, be required by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI shall not be deemed in default under any of the provisions of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes finallaw; provided, however, in that if by law any event each such contest shall be concluded and the contested Impositions must Imposition may be paid by NAI in installments (whether or not interest shall accrue on the unpaid balance thereof), the Mortgagor may pay the same in installments (together with accrued interest on the unpaid balance thereof) as the same respectively become due, before any fine, penalty, interest or cost attaches thereto. (b) The Mortgagor at its expense may, after prior notice to the earlier Mortgagee, contest by appropriate legal, administrative or other proceedings conducted in good faith and with due diligence, the amount or validity or application, in whole or in part, of any Imposition or lien therefor or any claims of mechanics, materialmen, suppliers or vendors or liens thereof, and may withhold payment of the same pending such proceedings if permitted by law, as long as (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase any Impositions or lien therefor or any claims of mechanics, materialmen, suppliers or vendors or liens thereof, such proceedings shall suspend the collection thereof from the Mortgaged Estate, (ii) neither the Mortgaged Estate nor any part thereof or interest therein will be sold, forfeited or lost if the Mortgagor pays the amount or satisfies the condition being contested, and the Mortgagor would have the opportunity to do so, in the event of the Mortgagor's failure to prevail in the contest, (iii) the Mortgagee would not, by an Applicable Purchaservirtue of such permitted contest, be exposed to any risk of any civil liability for which the Mortgagor has not furnished additional security as provided in clause (iv) equal below, or to any risk of criminal liability, and neither ----------- the Mortgaged Estate nor any interest therein would be subject to the Break Even Priceimposition of any lien for which the Mortgagor has not furnished additional security as provided in clause (iv) below, as a result of the failure to comply with such ----------- law or of such proceeding and (iv) the Mortgagor shall have furnished to the Mortgagee additional security in respect of the claim being contested or the loss or damage that may result from the Mortgagor's failure to prevail in such contest in such amount as may be reasonably requested by the Mortgagee, but in no event less than one hundred and twenty five percent (125%) of the amount of such claim. (c) Without in any way limiting Xxxxxxxxx's obligations hereunder, Xxxxxxxxx shall fund the Basic Carrying Costs Sub-Account to the extent required pursuant to the Loan Agreement and the real property taxes and assessments applicable to the Facility shall be paid from the Basic Carrying Costs Sub- Account, all in accordance with the Loan Agreement.

Appears in 1 contract

Samples: Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (G&l Realty Corp)

Impositions. Subject only to the exceptions listed in subparagraph 5.(d) belowTenant shall reimburse Landlord for (or, NAI shall if requested by Landlord, will pay or cause to be paid prior to delinquency delinquency) all sales, excise, ad valorem taxes assessed against the Property valorem, gross receipts, business, transfer, stamp, occupancy, rental and other taxes, levies, fees, charges, surcharges, assessments or penalties which arise out of or are attributable to this Lease or which are imposed upon Landlord or the Leased Property because of the ownership, leasing, occupancy, sale or operation of the Leased Property, or any part thereof, or relating to or required to be paid by the terms of any of the Permitted Encumbrances, excluding only Prohibited Encumbrances and Excluded Taxes (collectively, all such taxes, levies, fees, charges, surcharges, assessments or penalties, other than Prohibited Encumbrances and Excluded Taxes, are herein called the "Impositions"). If requested by BNPLC from time Landlord requires Tenant to timepay any Impositions directly to the applicable taxing authority or other party entitled to collect the same, NAI Tenant shall furnish BNPLC Landlord with receipts showing payment of all such Impositions and other amounts prior to the applicable delinquency date therefordelinquency. Notwithstanding the foregoing, NAI Tenant may in good faith, faith by appropriate proceedings, proceedings contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI Tenant shall not be deemed in default under any of the provisions of this Land Lease subparagraph (or subparagraphs 8.(t) or 8.(u)) because of the contested Imposition if (1) NAI within sixty (60) days after being asked to do so by Landlord, Tenant bonds over to the satisfaction of Landlord any lien asserted against the Leased Property and alleged to secure an amount in excess of $500,000 because of the contested Imposition, (2) Tenant diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLCLandlord, and (23) NAI Tenant promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, that in any event each such contest shall be concluded and the contested Impositions must Impositions, penalties, interest and costs shall be paid by NAI prior to the earlier of date (i) the date that any criminal prosecution is action may be instituted or overtly threatened against BNPLC Landlord or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC Landlord (including the Leased Property) may be seized or sold or any other action is taken threatened or instituted against BNPLC Landlord or against any property owned or leased by BNPLC Landlord because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

Appears in 1 contract

Samples: Lease Agreement (Informix Corp)

Impositions. Subject A. Tenant shall pay (except as hereinafter provided), before any fine, penalty, interest or cost may be added thereto, or become due or be imposed by operation of law for the nonpayment thereof, all taxes, assessments, water and sewer rents, rates and charges, charges for public utilities, levies and all other license and permit fees and other governmental charges, general and special, ordinary and extraordinary, unforeseen and foreseen, of any kind and nature whatsoever, which at any time prior to or during the term of this lease may be assessed, levied, confirmed, imposed upon, or become due and payable out of or in respect of, or become a lien on, the leased premises or any part thereof or any appurtenance thereto, the rent payable hereunder, any use or occupation of the leased premises (all collectively hereinafter referred to as "Impositions," and each of the above being hereinafter referred to as an "Imposition"). B. If by law any Imposition may at the option of the payor be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Tenant may exercise the option to pay the same (and any accrued interest on the unpaid balance of such Imposition) in installments and, in such event, shall pay such installments as they become due and before any fine, penalty, further interest or cost may be added thereto. Upon termination of this lease, Tenant shall forthwith prepay any installments which fall due after termination. C. Any Imposition (other than Impositions which have been converted into installment payments by Tenant as referred to in subdivision B above) relating to a fiscal period of the taxing authority, a part of which period is included within the term of this lease and a part of which is included in a period of time before or after the expiration of the term of this lease, shall (whether or not such Imposition shall be assessed, levied, confirmed, imposed upon or in respect of or become a lien upon the leased premises, or shall become payable, during the term of this lease) be adjusted between Landlord and Tenant as of the commencement or expiration of the term of this lease, so that Tenant shall pay that portion of such Imposition which that part of such fiscal period included in the period of time after the commencement and before the expiration of the term of this lease bears to such fiscal period, and Landlord shall pay the remainder thereof; the above provided, however, that the term of this lease shall not have been shortened due to Tenant's default in the performance of any of the Tenant's covenants, agreements and undertakings in this lease provided. If Tenant is in default and as a result the term of this expires prior to its expiration date absent such default, then there shall be no such apportionment, in which case Tenant shall pay the Imposition for the entire remaining term of this lease. However, if the premises be relet Tenant's obligations for Impositions shall be apportioned only through the commencement date of the new lease. D. Nothing to the exceptions listed in subparagraph 5.(d) belowcontrary herein contained shall require Tenant to pay any municipal, NAI shall pay state or cause to be paid prior to delinquency all ad valorem federal income taxes assessed against Landlord, or any municipal, state or federal capital levy, estate, succession, inheritance or transfer taxes of Landlord, or any corporation franchise taxes imposed upon any corporate owner of the Property fee of the leased premises; provided, however, that if at any time during the term of this lease the methods of taxation prevailing at the commencement of the term hereof shall be altered so as to cause the whole or any part of the taxes, assessments, levies, impositions or charges now or hereafter levied, assessed or imposed on real estate and other the improvements thereon, to be levied, assessed or imposed, wholly or partially as a capital levy, or otherwise, on the rents received therefrom, or if any tax, corporation franchise tax, assessment, levy (including but not limited to any municipal, state or federal levy), imposition or charge, or any part thereof, shall be measured by or based in whole or in part, upon the value of the leased premises and shall be imposed upon Landlord, then all such taxes, assessments, levies, impositions or charges, or the part thereof so measured or based, shall be deemed to be included within the term "Impositions. If requested by BNPLC from time " for the purposes hereof, to timethe extent that such Impositions would be payable if the leased Premises were the only property of Landlord subject to such Impositions, NAI and Tenant shall furnish BNPLC with receipts showing pay and discharge the same as herein provided in respect of the payment of Impositions. E. Landlord shall promptly forward to Tenant all Impositions prior tax bills received relating to the applicable delinquency leased premises. Tenant will furnish to Landlord, within ten (10) days after the date thereforwhen any Imposition would become delinquent, official receipts of the appropriate taxing authority, or other evidence satisfactory to Landlord, evidencing the payment thereof. Notwithstanding the foregoingHowever, NAI may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted Imposition, and pending such contest NAI failure to furnish same shall not be deemed a default unless Tenant fails to comply with this requirement within 15 days after written request by Landlord. F. Tenant shall have the right to contest the amount or validity, in default whole or in part, of any Imposition by appropriate proceedings diligently conducted in good faith but only after payment of such Imposition, unless such payment would operate as a bar to such contest or interfere materially with the prosecution thereof, in which event Tenant may postpone or defer payment of such Imposition if (1) neither the leased premises nor any part thereof would by reason of such postponement or deferment be in danger of being forfeited or lost, and (2) Tenant shall have deposited with Landlord the amount so contested and unpaid, together with all interest and penalties in connection therewith and all charges that might be assessed against or become a charge on the leased premises or any part thereof in and/or during the course of such proceedings, and (3) Landlord shall not be in danger of being subjected to criminal liability or penalty by reason of such postponement. G. Upon the termination of any such proceedings (which shall include any appeals from and petitions for review of any orders, decrees or judgments deemed by Tenant to be adverse or unfavorable, Tenant shall pay the amount of such Imposition or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees, interest, penalties or other liabilities in connection therewith, and, upon such payment, Landlord shall return, without interest, any amount deposited with it with respect to such Imposition as aforesaid, or, at the written request of Tenant, Landlord shall make available to Tenant, upon such reasonable conditions as Landlord may prescribe, the amount of such deposit for the making of such payment as aforesaid. If, at any time during the continuance of such proceedings, Landlord shall reasonably deem the amount deposited as aforesaid insufficient, Tenant shall, upon demand, make an additional deposit of such sum as Landlord reasonably may request, and upon failure of Tenant so to do, the amount previously deposited may be applied by Landlord (unless such application would prejudice or otherwise adversely affect Tenant's rights in such proceedings, including any rights to appeal or to seek petitions for the review of any adverse order, decree or judgment issued in such proceedings) to the payment, removal and discharge of such Imposition, and the interest and penalties in connection therewith and any costs, fees or other liability accruing in any such proceedings, and the balance, if any, shall be returned to Tenant. H. Tenant, at Tenant's sole cost and expense, shall have a right to seek a reduction in the valuation of the leased premises as assessed for tax purposes and to prosecute any action or proceeding which may be appropriate for seeking or obtaining such reduction. To the extent to which any tax refund payable as a result of any proceeding which Tenant may institute, or payable by reason of compromise or settlement of any such proceeding, may be based upon, a payment made by Tenant and shall not relate to a period as to which apportionment thereof has been made with Landlord, Tenant shall be authorized to collect the same, subject to Tenant's obligation to reimburse Landlord forthwith for any expenses and fees incurred by Landlord in connection therewith. Landlord may (but shall not be obligated to) at its own expense, if it shall so desire, endeavor at any time or times to obtain a reduction of the assessed valuation upon the leased premises or any part thereof for the purpose of reducing taxes thereon, and, in such event, Tenant will cooperate in effecting such a reduction. I. Landlord shall not be required to join in any proceedings referred to in paragraphs F or H hereof unless the provisions of any law, rule or regulation at the time in effect shall require that such proceedings be brought by and/or in the name of Landlord or any owner of the leased premises, in which event Landlord shall join in such proceedings or permit the same to be brought in its name, in which event Tenant shall reimburse Landlord for its costs (including attorney's fees) incurred in connection with any such proceeding. Landlord shall not ultimately be subjected to any liability for the payment of any costs or expenses in connection with any such proceedings, and Tenant will indemnify and save harmless Landlord from any such costs and expenses. Except as otherwise provided in this lease, Tenant shall be entitled to any refund of any Imposition and penalties or interest thereon received by Landlord which have been paid by Tenant, or which have been paid by Landlord but previously reimbursed in full by Tenant. J. The certificate, advice, or xxxx of the appropriate official designated by law to make or issue the same or to receive payment of any Imposition, certifying nonpayment of such Imposition, shall be prima facie evidence that such Imposition is due and unpaid at the time of the making or issuance of such certificate, advice or xxxx. K. Landlord appoints Tenant the attorney-in-fact of Landlord for the purpose of making all payments to be made by Tenant pursuant to any of the provisions of this lease to persons or entities other than Landlord. In case any person or entity to whom any sum is directly payable by Tenant under any of the provisions of this Land Lease because lease shall refuse to accept payment of the Imposition if (1) NAI diligently prosecutes such contest sum from Tenant, Tenant shall thereupon give written notice of such fact to completion in a manner reasonably satisfactory Landlord and shall pay such sum directly to BNPLC, and (2) NAI promptly causes Landlord who shall thereupon pay such sum to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted person or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Priceentity.

Appears in 1 contract

Samples: Lease Agreement (Medical Sterilization Inc)

Impositions. Subject (a) As long as any Bonds are Outstanding, the Issuer shall bear, pay and discharge, before the delinquency thereof, any and all Impositions. In the event any Impositions may be lawfully paid in installments, the Issuer shall be required to pay only such installments thereof as become due and payable as and when the same become due and payable. (b) Unless the Issuer exercises its right to contest any Impositions in accordance with subsection (c) of this Section, the Issuer shall, within thirty (30) days after the last day for payment (without penalty or interest) of an Imposition which the Issuer is required to bear, pay and discharge such Imposition pursuant to the exceptions listed in subparagraph 5.(d) below, NAI shall pay or cause to be paid prior to delinquency all ad valorem taxes assessed against the Property terms hereof and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior deliver to the applicable delinquency date therefor. Notwithstanding Trustee a photostatic or other suitable copy of the foregoing, NAI may in good faith, by appropriate proceedings, statement issued therefor duly receipted to show the payment thereof. (c) The Issuer shall have the right to contest the validity, applicability validity or amount of any asserted ImpositionImposition by appropriate legal proceedings instituted at least ten (10) days before the Imposition complained of becomes delinquent if, and pending provided, that the Issuer (a) before instituting any such contest NAI contest, shall not be deemed give the Trustee written notice of its intention to do so and, if requested in default under any writing by the Trustee, shall deposit with the Trustee a surety bond of a surety company acceptable to the Trustee as surety, in favor of the provisions Trustee, or cash, in a sum of this Land Lease because at least the amount of the Imposition if so contested, assuring the payment of such contested Impositions together with all interest and penalties to accrue thereon and court costs, (1b) NAI diligently prosecutes any such contest to completion in a manner reasonably satisfactory to BNPLCand at all times effectively stays or prevents any official or judicial sale therefor, under execution or otherwise, and (2c) NAI promptly causes pays any final judgment enforcing the Imposition so contested and thereafter promptly procures record release or satisfaction thereof. The Issuer shall indemnify and hold harmless the Trustee from any costs and expenses the Trustee may incur related to be paid any amount adjudged by a court such contest. (d) Unless the Issuer exercises its right to contest any Impositions in accordance with subsection (c) of competent jurisdiction this Section, the Issuer shall, within thirty (30) days after the last day for payment (without penalty or interest) of an Imposition which the Issuer is required to be duebear, with all costs, penalties pay and interest thereon, promptly after discharge such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property Imposition pursuant to the Purchase Agreement for terms hereof and deliver to the Trustee a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) photostatic or other suitable copy of the Purchase Agreement, in statement issued therefor duly receipted to show the case of a purchase by an Applicable Purchaser) equal to the Break Even Pricepayment thereof.

Appears in 1 contract

Samples: Trust Indenture (Capital Lease Funding Inc)

Impositions. Subject only Mortgagor will promptly pay when due and before any ----------- penalty or interest thereon may be added thereto, all taxes, assessments, water rates, sewer rents and other charges now or hereafter levied against the Premises or any part thereof, and also any and all license fees or similar charges which may be imposed by the municipality in which the Premises are situated for the use of vaults, chutes, areas and other space beyond the lot line and on or abutting the public sidewalks in front of or adjoining the Premises, together with any penalties or interest on any of the foregoing (the"Impositions"), and in default thereof Mortgagee may pay the same and ----------- Mortgagor will repay the same with interest thereon at the rate per annum specified in Section 5 hereof and the same shall be added to the exceptions listed in subparagraph 5.(d) belowObligations secured hereby and be secured by this Mortgage; that upon request of Mortgagee, NAI shall pay or cause Mortgagor will exhibit to be paid prior to delinquency all ad valorem taxes assessed against Mortgagee receipts for the Property and other Impositions. If requested by BNPLC from time to time, NAI shall furnish BNPLC with receipts showing payment of all Impositions prior to the applicable delinquency date thereforwhen the same shall become delinquent. Notwithstanding anything to the foregoingcontrary provided herein, NAI may in good faith, by appropriate proceedings, the Mortgagor shall be entitled to contest the validityamount or validity of the Impositions in accordance with the terms of the Credit Agreement. If any exemption, applicability abatement, or amount reduction of any asserted ImpositionImposition on the Premises is altered, and pending such contest NAI shall not be deemed modified, revoked, reduced, terminated or in default under any wise disallowed or declared invalid, Mortgagor shall, within five (5) days upon request of Mortgagee in person or within fifteen (15) days upon request of Mortgagee by mail, pay any tax or charge imposed upon the Premises by reason of the provisions loss or reduction of this Land Lease because of the Imposition if (1) NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLCabatement or exemption, and (2) NAI promptly causes to be paid any amount adjudged by a court of competent jurisdiction to be due, with all costs, penalties and interest thereon, promptly after such judgment becomes final; provided, however, in any event each such contest shall be concluded and the contested Impositions must be paid by NAI prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or its directors, officers or employees because of the nonpayment thereof or (ii) the date any writ or order is issued under which any property owned or leased by BNPLC (including the Property) may be seized or sold or any other action is taken against BNPLC or against any property owned or leased by BNPLC because of the nonpayment thereof, or (iii) any Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Priceinterest or penalty thereon.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Fixture Filing, Security Agreement and Financing Statement (Iron Age Holdings Corp)