Payment of Taxes and Charges in Lieu Thereof. (a) The Company covenants and agrees that it will, from time to time for so long as the Company has an ownership interest in the Project, promptly pay and discharge or cause to be paid and discharged when due its share of all taxes, assessments, levies, duties, imposts and governmental, utility and other charges lawfully imposed upon the Project or any part thereof or upon income and profits thereof or any payments hereunder. In the event that the Company sells or otherwise transfers its interest in the Project while the Bonds are Outstanding, the Company shall require the purchasers or transferor of the Company's interest in the Project to assume the Company's obligations under this Section 4.06(a).
Appears in 4 contracts
Samples: Loan Agreement (Avista Corp), Loan Agreement (Enron Corp/Or/), Loan Agreement (Avista Corp)
Payment of Taxes and Charges in Lieu Thereof. (a) The Company covenants and agrees that it will, from time to time for so long as the Company has an ownership interest in the ProjectProjects, promptly pay and discharge or cause to be paid and discharged when due its share of all taxes, assessments, levies, duties, imposts and governmental, utility and other charges lawfully imposed upon the Project Projects or any part thereof or upon income and profits thereof or any payments hereunder. In the event that the Company sells or otherwise transfers its interest in the Project Projects while the Bonds are Outstanding, the Company shall require the purchasers or transferor of the Company's interest in the Project to assume the Company's obligations under this Section 4.06(a).
Appears in 1 contract
Samples: Loan Agreement (Enron Corp/Or/)