Common use of Payment by Lessor Clause in Contracts

Payment by Lessor. Should Lessee fail to pay within the time specified in this Article any taxes, assessments, or other charges required by this Article to be paid by Lessee, Lessor may, but is not obligated to, without notice to or demand on Lessee, pay, discharge, or adjust such tax, assessment, or other charge for the benefit of Lessee. In such event, Lessee shall promptly on written demand of Lessor reimburse Lessor for the full amount paid by Lessor in paying, discharging, or adjusting such tax, assessment, or other charge together with interest thereon at the rate of ten percent (10%) per annum from the date of payment by Lessor until the date of repayment by Lessee. Where no time within which any charge required by this Article to be paid by Lessee is specified in this Article, such charge must be paid by Lessee before it becomes delinquent.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Intersil Corp), Lease Agreement (Intersil Holding Co), Lease Agreement (Align Rite International Inc)

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Payment by Lessor. Should Lessee fail to pay within the time specified in this Article any utilities, taxes, assessments, or other charges required by this Article Section to be paid by Lessee, Lessor may, but is not obligated to, without notice to or demand on to Lessee, pay, discharge, or adjust such tax, assessment, assessment or other charge for the benefit of Lessee. In such event, Lessee shall promptly on written demand of Lessor reimburse Lessor for the full amount paid by Lessor in paying, discharging, discharging or adjusting such tax, assessment, assessment or other charge charge, together with interest thereon at the maximum rate of ten percent (10%) per annum allowed by law from the date of payment by Lessor until the date of repayment by Lessee. Where When no time within which any charge required by this Article to be paid by Lessee is specified in this Article, such charge must be paid by Lessee before it becomes delinquent.

Appears in 1 contract

Samples: Lease Agreement (Seagate Software Inc)

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Payment by Lessor. Should Lessee fail to pay within the time specified in this Article any utilities, taxes, assessments, or other charges required by this Article Section to be paid by LesseeLessxx, Lessor Xxssor may, but is not obligated to, without notice to or demand on to Lessee, pay, discharge, or adjust such tax, assessment, assessment or other charge for the benefit of Lessee. In such event, Lessee shall promptly on written demand of Lessor reimburse Lessor for the full amount paid by Lessor in Lessxx xx paying, discharging, discharging or adjusting such tax, assessment, assessment or other charge charge, together with interest thereon at the maximum rate of ten percent (10%) per annum allowed by law from the date of payment by Lessor until the date of repayment by LesseeLessxx. Where Xxen no time within which any charge required by this Article to be paid by Lessee is Lessxx xx specified in this Article, such charge must be paid by Lessee before Lessxx xxxore it becomes delinquent.

Appears in 1 contract

Samples: Lease Agreement (Seagate Software Inc)

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