Common use of Payment by Beneficiary Clause in Contracts

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 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. 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 under the Notes 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. Beneficiary shall have the right to pay ---------------------- any Imposition after the date such Imposition shall have become delinquent delinquent, if either 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 such 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 plus 21% per annum (the "Default Rate") and nothing herein contained shall affect such right and such remedy. Any amounts sums 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. 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 under the Notes plus 2% per annum Subordinated Loan Agreement and the Subordinated Note (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 Hyatt Gaming Deed of Trust, and (ii) payable on demand.

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 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.