Common use of Loan Document Taxes Clause in Contracts

Loan Document Taxes. If any tax, assessment or Imposition (other than a tax imposed on or measured by, the net income or capital (including branch profits tax) of the Lender (or any transferee or assignee thereof, including a participation holder)) ("Loan Document Taxes") is levied, assessed or charged by the United States, or any State in the United States, or any political subdivision or taxing authority thereof or therein upon any of the Loan Documents or the obligations secured thereby, the interest of the Lender in the Mortgaged Properties, or the Lender by reason of or as holder of the Loan Documents, each Borrower shall pay all such Loan Document Taxes to, for, or on account of the Lender (or provide funds to the Lender for such payment, as the case may be) as they become due and payable and shall promptly furnish proof of such payment to the Lender, as applicable. In the event of passage of any law or regulation permitting, authorizing or requiring such Loan Document Taxes to be levied, assessed or charged, which law or regulation in the opinion of counsel to the Lender may prohibit each Borrower from paying the Loan Document Taxes to or for the Lender, each Borrower shall enter into such further instruments as may be permitted by law to obligate it to pay such Loan Document Taxes. In addition, such Borrower shall pay all documentary stamp, recording, transfer, mortgage, intangible or filing or other taxes or fees and any and all liabilities with respect thereto, or resulting therefrom which may be payable or determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of or filing of record, recordation, release or discharge of, this Agreement, the Security Instruments, or any other Loan Document. All amounts due under this Section 7.16 shall be payable within 10 days after delivery of written notice from the Lender to the Borrowing Agent unless a non-appealable judicial order requires that any such payments must be made on an earlier date in which case payment shall be made by such date on written demand therefor.

Loan Document Taxes. If any tax, assessment or Imposition (other than a franchise taxes, excise tax or other tax imposed on or measured by, the net income or capital (including branch profits tax) of the Lender (or any transferee or assignee thereof, including a participation holder)) ("Loan Document Taxes") is levied, assessed or charged by the United States, or any State in the United States, or any political subdivision or taxing authority thereof or therein upon any of the Loan Documents or the obligations secured thereby, the interest of the Lender in the Mortgaged Properties, or the Lender by reason of or as holder of the Loan Documents, each Borrower shall pay all such Loan Document Taxes to, for, or on account of the Lender (or provide funds to the Lender for such payment, as the case may be) as they become due and payable and shall promptly furnish proof of such payment to the Lender, as applicable. In the event of passage of any law or regulation permitting, authorizing or requiring such Loan Document Taxes to be levied, assessed or charged, which law or regulation in the opinion of counsel to the Lender may prohibit each Borrower from paying the Loan Document Taxes to or for the Lender, each Borrower shall enter into such further instruments as may be permitted by law to obligate it Borrower to pay such Loan Document Taxes. In additionNotwithstanding the foregoing, such Borrower shall pay all documentary stamp, recording, transfer, mortgage, intangible or filing or other taxes or fees and not be required to make any and all liabilities payment pursuant to this Section 8.10 with respect theretoto (i) any Loan Document Taxes that would not have been imposed but for the failure by a Lender, any assignee or resulting therefrom which may be payable participant to provide timely Borrower with an applicable certification or determined form (including, without limitation, the appropriate Internal Revenue Service Form W-8) if providing such certification would have resulted in an exemption from or reduction in such Loan Document Taxes or (ii) any Loan Document Taxes that would apply to be payable a payment made to any Lender (other than Xxxxxx Mae), its assignee or participant on the day such Lender, assignee or participant becomes a party to this Agreement or otherwise acquires an interest in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of or filing of record, recordation, release or discharge of, loan made pursuant to this Agreement, the Security Instruments, or any other Loan Document. All amounts due under this Section 7.16 shall be payable within 10 days after delivery of written notice from the Lender to the Borrowing Agent unless a non-appealable judicial order requires that any such payments must be made on an earlier date in which case payment shall be made by such date on written demand therefor.