Payment by Beneficiary Clause Samples
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Payment by Beneficiary. Beneficiary shall have the right to pay any Imposition after the date such Imposition shall have become delinquent if Trustor's failure to pay such Imposition constitutes or would constitute, with or without the giving of notice by Beneficiary or the passage of time, an Event of Default (unless Trustor shall be contesting such Imposition pursuant to Section 2.1(c) hereof), and to add to the Obligations the amount so paid, together with interest thereon from the date of such payment at the then applicable interest rate under the Loan Agreement plus 2% per annum (the "Default Rate") and nothing herein contained shall affect such right and such remedy. Any amounts paid by Beneficiary or Trustee in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.
Payment by Beneficiary. If Grantor shall fail to pay any Imposition in accordance with the provisions of this Section 1.02, Beneficiary, at its option and at such time as it may elect, may pay such Imposition, but shall be under no obligation to do so. Grantor will repay to Beneficiary, on demand, any amount so paid by Beneficiary, with interest thereon at the Increased Rate from the date of such payment by Beneficiary to the date of repayment by Grantor. This Deed of Trust shall secure each such amount and such interest.
Payment by Beneficiary. Beneficiary shall have the right, after ---------------------- demand to Grantor, to pay any Imposition after the date such Imposition shall have become due, unless Grantor shall be contesting such Imposition pursuant to Section 2.01(b) hereof, and to add to the Obligations the amount so paid, --------------- together with interest thereon from the date of such payment at the Default Rate of interest applicable under the Credit Agreement, and nothing herein contained shall affect such right and such remedy. Any sums paid by Beneficiary in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.
Payment by Beneficiary. If Trustor shall fail to pay any property taxes, assessments and insurance premiums relating to the Secured Property in accordance with the provisions of this Section 1.02, Beneficiary, at its option and at such time as it may elect, may pay any such property taxes, assessments and insurance premiums relating to the Secured Property, but shall be under no obligation to do so. Trustor will repay to Beneficiary, on demand, any amount so paid by Beneficiary, with interest thereon at the Increased Rate from the date of such payment by Beneficiary to the date of repayment by Trustor. This Deed of Trust shall secure each such amount and such interest.
Payment by Beneficiary. Beneficiary shall have the right to pay any Imposition after the date such Imposition shall have become delinquent if Trustor's failure to pay such Imposition constitutes or would constitute, with or without the giving of notice by Beneficiary or the passage of time, an Event of Default (unless Trustor shall be contesting such Imposition pursuant to Section 2.1(c) hereof), and to add to the Obligations the amount so paid, together with interest thereon from the date of such payment at the then applicable interest rate on the Notes (the "Default Rate") and nothing herein contained shall affect such right and such remedy. Any amounts paid by Beneficiary or Trustee in discharge of any Impositions shall be (i) a future advance hereunder and a lien on the Trust Property secured hereby prior to any right or title to, interest in, or claim upon the Trust Property subordinate to the lien of this Deed of Trust, and (ii) payable on demand.