No Credits on Account of the Debt. Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Trust Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Trust Property, or any part thereof, for real estate tax purposes by reason of this Deed of Trust or the Debt. In the event such claim, credit or deduction shall be required by law, Lender shall have the option, by written notice of not less than one hundred twenty (120) days, to declare the Debt immediately due and payable without any prepayment consideration except that if an Event of Default has occurred, then the Borrower shall pay to Lender an additional amount equal to the Yield Maintenance Premium.
Appears in 3 contracts
Samples: Cash Management Agreement (Maguire Properties Inc), Cash Management Agreement (Maguire Properties Inc), Waiver and Agreement (Maguire Properties Inc)
No Credits on Account of the Debt. Borrower will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Trust Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Trust Property, or any part thereof, for real estate tax purposes by reason of this Deed of Trust or the Debt. In the event such claim, credit or deduction shall be required by law, Lender shall have the option, by written notice of of. not less than one hundred twenty (120) days, to declare the Debt immediately due and payable without any prepayment consideration except that if an Event of Default has occurred, then the Borrower shall pay to Lender an additional amount equal to the Yield Maintenance Premium.
Appears in 2 contracts
Samples: Security Agreement and Fixture Filing (MPG Office Trust, Inc.), Waiver and Agreement (Maguire Properties Inc)
