Common use of Payment of Taxes and Impositions Clause in Contracts

Payment of Taxes and Impositions. If the Property is taxed separately, then Tenant shall pay all Taxes and Impositions directly to each body, agency, or authority imposing, assessing, levying, or otherwise collecting such Taxes and Impositions, prior to delinquency and in the manner specified by such body, agency, or authority, and shall submit to Landlord evidence of such payment together with a copy of the xxxx or invoice for such Taxes and Impositions within ten (10) days after making such payment. If, on the other hand, the Property is not taxed separately and is therefore taxed under one tax xxxx along with other property owned by Landlord (such other property together with the Property shall be collectively referred to herein as the “Tax Parcel”), then Tenant shall pay its proportionate share, as reasonably determined by Landlord and Tenant, of such Taxes and Impositions assessed against the Tax Parcel within ten (10) business days of demand from Landlord. Landlord and Tenant shall in good faith make reasonable efforts to cause the Property to be separately taxed, and to cause all appropriate Governmental Authorities to send directly to Tenant all pertinent statements and bills in respect of the Impositions relating to the Property. Subject to Section 4(c) below, all Taxes and Impositions which Tenant agrees to pay pursuant to this Lease that are not paid prior to delinquency may be paid by Landlord if Tenant fails to pay such Taxes and Impositions within ten (10) days after written notice from Landlord to Tenant. Tenant shall reimburse Landlord for any such payments (including, without limitation, any penalty and interest imposed in connection with Tenant’s failure to pay any Tax or Imposition prior to delinquency) within fifteen (15) days of receipt of an invoice therefor. Interest shall accrue on such unpaid expenditures from the date of Tenant’s receipt of an invoice from Landlord until the date that payment is received by Landlord at the Default Rate.

Payment of Taxes and Impositions. (a) Subject to the terms of Section 6.23(c), the Company will pay or cause to be paid, before any fine, interest or penalty is imposed thereon, all Impositions. If pursuant to any Applicable Law, any Impositions may at the Property is taxed separatelyoption of the Company be paid in installments (whether or not interest shall accrue on the unpaid balance thereof), the Company shall have the right, provided that no Event of Default shall then Tenant shall exist, to exercise such option and to pay or cause to be paid such Impositions and any accrued interest thereon in installments as they fall due and before any fine, penalty, further interest or cost may be added thereto. (b) The Company will pay all Taxes taxes and Impositions other governmental charges (including without limitation, stamp taxes) assessed by any Governmental Authorities and imposed on the Collateral Agent, its successors or assignees, by reason of the Collateral Agent's status as mortgagee under the Mortgage or the other Security Documents or imposed upon either the Company or the Collateral Agent upon any modification, amendment, extension and/or consolidation thereof. The Company will also pay any tax imposed directly to each bodyor indirectly on the Mortgage in lieu of a tax on the Mortgaged Property or any part thereof, agencywhether by reason of (i) the passage after the date of the Mortgage of any law of the State of New Jersey deducting from the value of real property for the purposes of taxation any lien thereon, (ii) any change in the laws for the taxation of mortgages or debts secured by mortgages for state or local purposes, (iii) a change in the means of collection of any such tax, or authority imposing(iv) any tax, assessing, levying, now or otherwise collecting such Taxes and Impositions, prior to delinquency and in the manner specified by such body, agency, or authority, and shall submit to Landlord evidence of such payment together with a copy of the xxxx or invoice for such Taxes and Impositions within ten (10) days after making such payment. If, on the other hand, the Property is not taxed separately and is therefore taxed under one tax xxxx along with other property owned by Landlord (such other property together with the Property shall be collectively referred to herein as the “Tax Parcel”), then Tenant shall pay its proportionate share, as reasonably determined by Landlord and Tenant, of such Taxes and Impositions hereafter assessed against the Tax Parcel within ten Mortgage or assessed against, or withheld from, any payments made by the Company hereunder. Within a reasonable time after payment of any such tax or governmental charge, the Company will deliver to the Trustee and the Collateral Agent satisfactory proof of payment thereof. (10c) business days The Company will not claim or demand or be entitled to any credit or credits for the payment of demand from Landlord. Landlord and Tenant shall in good faith make reasonable efforts to cause the Property to be separately taxedany Impositions, and to cause all appropriate Governmental Authorities to send directly to Tenant all pertinent statements and bills in respect no deduction shall otherwise be made or claimed from the taxable value of the Impositions relating to Mortgaged Property, or any part thereof, by reason of the Property. Subject to Section 4(c) below, all Taxes and Impositions which Tenant agrees to pay pursuant to this Lease that are not paid prior to delinquency may be paid by Landlord if Tenant fails to pay such Taxes and Impositions within ten (10) days after written notice from Landlord to Tenant. Tenant shall reimburse Landlord for any such payments (including, without limitation, any penalty and interest imposed in connection with Tenant’s failure to pay any Tax or Imposition prior to delinquency) within fifteen (15) days of receipt of an invoice therefor. Interest shall accrue on such unpaid expenditures from the date of Tenant’s receipt of an invoice from Landlord until the date that payment is received by Landlord at the Default RateMortgage.