Common use of Payment of Taxes and Other Governmental Charges Clause in Contracts

Payment of Taxes and Other Governmental Charges. (a) The Company shall pay promptly when due, and before penalty or interest accrues thereon, all taxes, assessments, whether general or special, all other governmental charges and all public or private utility charges of any kind whatsoever, foreseen or unforeseen, ordinary or extraordinary, that now or may at any time hereafter be assessed, levied or imposed against or with respect to the Collateral or any part thereof (including, without limitation, any taxes levied upon or with respect to the revenues, income or profits of the Company from the Collateral) which, if not paid, may become or be made a Lien on the Collateral or any part thereof or a charge on such revenues, income or profits. The Company shall also pay promptly when due any public or private utility charges and other charges incurred in the operation, maintenance or use of the Collateral. (b) Notwithstanding the preceding paragraph, the Company may, at the Company's expense and in the Company's name and behalf and after written notice to the Director, by appropriate proceedings diligently prosecuted, contest in good faith the validity or amount of any such taxes, assessments and other charges, and during the period of contest and after written notice to the Director, may permit the items so contested to remain unpaid. If at any time, however, the Director shall notify the Company that, in the opinion of Independent Counsel, by nonpayment of any such items the lien, pledge or security interest created by this Security Agreement or the interests of the Company or the Director in the Collateral as to any part of the Collateral will be materially affected or the Collateral or any part thereof will be subject to imminent loss or forfeiture, the Company shall promptly pay all such taxes, assessments or charges. In the event that the Company shall fail to pay any of the foregoing items required by this Section to be paid by the Company, the Director may, but shall be under no obligation to, pay the same, and any amounts so advanced shall be paid by the Company to the Director on demand, together with interest thereon at the Interest Rate for Advances from the date thereof in addition to all other payments to be made pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereof. (c) [Intentionally Omitted]

Payment of Taxes and Other Governmental Charges. (a) The Company shall pay promptly when due, and before penalty or interest accrues accrue thereon, all taxes, assessments, whether general or special, all other governmental charges and all public or private utility charges of any kind whatsoever, foreseen or unforeseen, ordinary or extraordinary, that now or may at any time hereafter be assessed, levied or imposed against or with respect to the Collateral or any part thereof (including, including without limitation, any taxes levied upon or with respect to the revenues, income or profits of the Company from the Collateral) which, if not paid, may become or be made a Lien lien on the Collateral Collateral, or any part thereof or a charge on such revenues, income or profits. The Company shall also pay promptly when due any public or private utility charges and other charges incurred in the operation, maintenance or use of the Collateral. (b) Notwithstanding the preceding paragraph, the Company may, at the Company's its expense and in the Company's name and behalf and after written prior notice to the Director, by appropriate proceedings diligently prosecuted, contest in good faith the validity or amount of any such taxes, assessments and other charges, and during the period of contest and after written notice to the Director, may permit the items so contested to remain unpaid. If However, if at any time, however, time the Director shall notify the Company that, in the opinion of Independent Counsel, by nonpayment of any such items the lienpledge, pledge lien or security interest created by this Security Agreement or the interests of the Company or the Director in the Collateral as to any part of the Collateral will be materially affected or the Collateral or any part thereof will be subject to imminent loss or forfeiture, the Company shall promptly pay all such taxes, assessments or charges. In . (c) If any Event of Default shall have occurred, at the event that request of the Director, the Company shall fail pay to the Director, on each day that monthly installments of principal, interest and the monthly service fee are payable under the Note, until the Note is paid in full, an amount equal to one-twelfth (1/12) of the annual taxes, assessments or other charges reasonably estimated by the Director to pay the installment of such taxes, assessments or other charges next due on the Collateral. In such event, the Company further agrees to cause all bills, statements or other documents relating to taxes, assessments or other charges to be sent or mailed directly to the Director. Upon receipt of such bills, statements or other documents and providing the Company has deposited sufficient funds with the Director pursuant to this Section, the Director shall pay such amounts as may be due thereunder from the funds so deposited with the Director. If at any time and for any reason the funds deposited with the Director are or will be insufficient to pay such amounts as may then or subsequently be due, the Director shall notify the Company and the Company shall immediately deposit an amount equal to such insufficiency with the Director. Notwithstanding the foregoing, nothing contained herein shall cause the Director to be deemed a trustee of said funds or to be obligated to pay any amounts in excess of the foregoing items amount of funds deposited by the Company With the Director pursuant to this Section. The Director may commingle said funds with the Director's own funds and with other funds held by the Director, and the Director shall not be obligated to payor allow any interest on any funds held by the Director pending disbursement or application hereunder. The Director may impound or reserve for future payment of taxes, assessments or other charges such portion of such payments made pursuant to the Loan Documents as the Director may reasonably deem proper, applying the balance on the principal of or interest or monthly service fee on the obligations secured hereby. Any penalties imposed as a result of the failure by the Director to make required by this Section to tax payments in a timely fashion shall be paid borne by the Company, unless the required deposits have been timely made by the Company. Should the Company fail to deposit with the Director, exclusive of that portion of said payments which has been applied by the Director on the principal of or interest or monthly service fee on the indebtedness secured by the Security Agreement, sums sufficient to fully pay such taxes, assessments or other charges at least thirty (30) days before delinquency thereof, the Director may, at the Director's election, but without any obligation so to do, advance any amounts required to make up the deficiency, which advances, if any, shall be under no obligation to, pay the same, secured hereby and any amounts so advanced shall be repayable to the Director as provided in Section 3.5 hereof, or at the option of the Director, the Director may, without making any advances whatever, apply any sums held by the Director upon any obligations of the Company secured hereby. Should any default occur or exist on the part of the Company in the payment or performance of any of the Company's obligations under the terms of the Loan Documents or any other instrument given to secure the Note, the Director may, at any time at the Director's option, apply any sums or amounts in the Director's hands received pursuant hereto, or as rents or income of the Collateral or otherwise, upon any indebtedness or obligation of the Company secured hereby in such manner and order as the Director may elect. The receipt, use or application of any such sums paid by the Company to the Director on demand, together with interest thereon at hereunder shall not be construed to affect the Interest Rate for Advances from the date thereof in addition to all other payments to be made pursuant to the Loan Documents and shall be subject to and maturity of any indebtedness secured by this Security Agreement as additional indebtedness in accordance with or any of the provisions rights or powers of Section 2.8 hereofthe Director under the terms of the Loan Documents or any other instrument given to secure the Note, or any of the obligations of the Company under the Loan Documents or any other instrument given to secure the Note. (c) [Intentionally Omitted]

Payment of Taxes and Other Governmental Charges. (a) The Company SUBLESSEE shall pay pay, promptly when due, and before penalty or interest accrues thereon, accrue thereon all taxes, assessments, whether general or special, all other governmental charges and all public or private utility charges of any kind whatsoever, whatsoever foreseen or unforeseen, ordinary or extraordinary, that now or may hereafter at any time hereafter be assessed, levied or imposed against or with respect to the Collateral or any part thereof PROJECT (including, without limitation, any taxes levied upon or with respect to the revenues, income or profits profit of the Company SUBLESSEE from the CollateralPROJECT) which, if not paid, may become or be made a Lien on the Collateral PROJECT SITE or the PROJECT FACILITIES, or any part thereof or a charge on such revenues, income or and profits. The Company shall also pay promptly when due any public or private utility charges and other charges incurred in the operation, maintenance or use of the Collateral. (b) Notwithstanding the preceding paragraph, Paragraph the Company SUBLESSEE may, at the Company's its expense and in the Company's name and behalf and after written notice PRIOR WRITTEN NOTICE to the DirectorSUBLESSOR and DIRECTOR, and by appropriate proceedings diligently prosecuted, contest in good faith the validity or amount of any such taxes, assessments and other charges, and after Notice to the SUBLESSOR and the DIRECTOR may, during the period of contest and after written notice to the Directorcontest, may permit the items so contested to remain unpaid. If However, if at any time, however, time the Director SUBLESSOR or DIRECTOR shall notify the Company SUBLESSEE that, in the opinion of Independent Counsel, by nonpayment of any such items the lien, pledge or security interest created by this Security Agreement or the interests of the Company or the Director in the Collateral as to any part of the Collateral PROJECT SITE or the PROJECT FACILITIES will be materially affected or the Collateral PROJECT SITE or the PROJECT FACILITIES or any part thereof will be subject to imminent loss or forfeiture, the Company SUBLESSEE shall promptly pay all such taxes, assessments or charges. In During the event that period when the Company shall fail to pay any of the foregoing items required by this Section to be paid by the Companytaxes, assessments or other charges so contested remain unpaid, the Director maySUBLESSEE shall set aside on its Books adequate reserves with respect to such taxes, but shall be under no obligation to, pay the same, and any amounts so advanced shall be paid by the Company to the Director on demand, together with interest thereon at the Interest Rate for Advances from the date thereof in addition to all other payments to be made pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereofassessments or charges. (c) [Intentionally Omitted]

Payment of Taxes and Other Governmental Charges. (a) The Company shall pay promptly when due, and before penalty or interest accrues thereon, all taxes, assessments, whether general or special, all other governmental charges and all public or private utility charges of any kind whatsoever, foreseen or unforeseen, ordinary or extraordinary, that now or may at any time hereafter be assessed, levied or imposed against or with respect to the Collateral or any part thereof (including, without limitation, any taxes levied upon or with respect to the revenues, income or profits of the Company from the Collateral) which, if not paid, may become or be made a Lien on the Collateral or any part thereof or a charge on such revenues, income or profits. The Company shall also pay promptly when due any public or private utility charges and other charges incurred in the operation, maintenance or use of the Collateral. (b) Collateral arising subsequent to the commencement of the Case. Notwithstanding the preceding paragraph, the Company may, at the Company's expense and in the Company's name and behalf and after written notice to the Director(name of local jurisdiction), by appropriate proceedings diligently prosecuted, contest in good faith the validity or amount of any such taxes, assessments and other charges, and during the period of contest and after written notice to the Director(name of local jurisdiction), may permit the items so contested con­tested to remain unpaid. If at any time, however, the Director (name of local jurisdiction) shall notify the Company that, in the opinion of Independent Counsel, by nonpayment of any such items the lien, pledge or security interest created by this Security Agreement or the interests of the Company or the Director (name of local jurisdiction) in the Collateral as to any part of the Collateral will be materially affected or the Collateral or any part thereof will be subject to imminent loss or forfeiture, the Company shall promptly pay all such taxes, assessments or charges. In the event that the Company shall fail to pay any of the foregoing items required by this Section to be paid by the Company, the Director (name of local jurisdiction) may, but shall be under no obligation to, pay the same, and any amounts so advanced shall be paid by the Company to the Director (name of local jurisdiction) on demand, together with interest thereon at the Interest Rate for Advances from the date thereof in addition to all other payments to be made pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereof. If any Event of Default shall have occurred, at the request of the (name of local jurisdiction), the Company shall pay to the (name of local jurisdiction), on each Payment Date, an amount equal to one-twelfth (1/12) of the annual taxes, assessments or other charges reasonably estimated by the (name of local jurisdiction) to pay the installment of such taxes, assess­ments or other charges next due on the Collateral. In such event, the Company further agrees to cause all bills, statements or other documents relating to taxes, assessments or other charges to be sent or mailed directly to the (name of local jurisdiction). Upon receipt of such bills, statements or other documents and provided the Company has deposited sufficient funds with the (name of local jurisdiction) pursuant to this Section, the (name of local jurisdiction) shall pay such amounts as may be due thereunder from the funds so deposited with the (name of local jurisdiction). If at any time and for any reason the funds deposited with the (name of local jurisdiction) are or will be insufficient to pay such amounts as may then or subsequently be due, the (name of local jurisdiction) shall notify the Company and the Company shall immediately deposit the amount necessary to eliminate such insufficiency with the (name of local jurisdiction). Notwithstanding the foregoing, nothing contained herein shall cause the (name of local jurisdiction) to be deemed a trustee of said funds or to be obligated to pay any amounts in excess of the amount of funds deposited with the (name of local jurisdiction) pursuant to this Section. The (name of local jurisdiction) may commingle said funds with the (name of local jurisdiction)'s own funds and with other funds held by the (name of local jurisdiction), and the (name of local jurisdiction) shall not be obli­gated to pay or allow any interest on any funds held by the (name of local jurisdiction) pending disbursement or application hereunder. The (name of local jurisdiction) may impound or reserve for future payment of taxes, assessments or other charges such portion of such payments made pursuant to the Loan Documents as the (name of local jurisdiction) may reasonably deem proper, applying the balance on the principal of or interest or monthly service fee on the obligations secured hereby. Any penalties imposed as a result of the failure by the (name of local jurisdiction) to make required payments in a timely fashion shall be borne by the Company, unless the required deposits have been timely made by the Company. Should the Company fail to deposit with the (name of local jurisdiction), exclusive of that portion of said payments which has been applied by the (name of local jurisdiction) on the principal of or interest or monthly service fee on the indebtedness secured by this Security Agreement, sums sufficient to fully pay such taxes, assessments or other charges at least thirty (30) days before delinquency thereof, the (name of local jurisdiction) may, at the (name of local jurisdiction)'s election, but without any obligation so to do, advance any amounts required to make up the deficiency, which advances, if any, shall be paid by the Company to the (name of local jurisdiction) on demand, together with interest thereon at the Interest Rate for Advances from the date thereof in addition to all other payments to be made by the Company pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereof, or at the option of the (name of local jurisdiction), the (name of local jurisdiction) may, without making any advances whatever, apply any sums held by the (name of local jurisdiction) upon any obligations of the Company secured hereby. Should any default occur or exist in the payment or performance of any of the Company's obligations under the terms of the Loan Documents or any other instrument given to secure the Note, the (name of local jurisdiction) may, at any time at the (name of local jurisdiction)'s option, apply any sums or amounts in the (name of local jurisdiction)'s hands received pursuant hereto, or as rents or income of the Collateral or otherwise, upon any indebtedness or obligation of the Company secured hereby in such manner and order as the (name of local jurisdiction) may elect. The receipt, use or application of any such sums paid by the Company to the (name of local jurisdiction) hereunder shall not be construed to affect the maturity of any indebtedness secured by this Security Agreement or any of the rights or powers of the (name of local jurisdiction) under the terms of the Loan Documents or any other instrument given to secure the Note, or any of the obligations of the Company under the Loan Documents or any other instrument given to secure the Note. (c) [Intentionally Omitted]

Payment of Taxes and Other Governmental Charges. (a) The Company Mortgagor shall pay pay, promptly when due, due and before penalty or interest accrues accrue thereon, all taxes, assessments, whether general or special, all and other governmental charges and all public or private utility charges of any kind whatsoever, foreseen or unforeseen, ordinary or extraordinary, that now or may at any time hereafter be assessed, assessed or levied or imposed against or with respect to the Collateral Series 1989D Mortgaged Property or any part thereof (including, without limitation, any taxes levied upon or with respect to the revenues, income or profits of the Company Mortgagor from the CollateralSeries 1989D Mortgaged Property) which, if not paid, may become or be made a Lien lien on the Collateral Series 1989D Mortgaged Property, or any part thereof thereof, or a charge on such revenues, income or profits. The Company Mortgagor shall also pay promptly when deliver to the Mortgagee no later than five days after the due date of any public or private utility charges and other charges incurred in the operation, maintenance or use of the Collateral. (b) payment required to be made pursuant to this paragraph written evidence that such payment has been made. Notwithstanding the preceding paragraph, the Company Mortgagor may, at the Company's its expense and in the Company's name and behalf and after prior written notice to the DirectorMortgagee, by appropriate proceedings diligently prosecuted, contest in good faith the validity or amount of any such taxes, assessments and or other charges, charges and during the period of contest and after written notice to the Directorcontest, may permit need not pay the items so contested to remain unpaidcontested. If However, if at any time, however, time the Director Mortgagee shall notify deliver to the Company that, in the Mortgagor an opinion of Independent Counsel, Counsel to the effect that by nonpayment of any such items items, the lien, pledge lien or security interest created by this Security Agreement or the interests of the Company or the Director in the Collateral Series 1989D Mortgage as to any part of the Collateral Series 1989D Mortgaged Property will be materially affected or the Collateral Series 1989D Mortgaged Property or any part thereof will be subject to imminent loss or forfeiture, the Company Mortgagor shall promptly pay all such taxes, assessments or charges. In During the event that period when the Company shall fail to pay any of the foregoing items required by this Section to be paid by the Companytaxes, assessments or other charges so contested remain unpaid, the Director may, but Mortgagor shall be under no obligation to, pay the same, and any amounts so advanced shall be paid by the Company to the Director set aside on demand, together its books adequate reserves with interest thereon at the Interest Rate for Advances from the date thereof in addition to all other payments to be made pursuant to the Loan Documents and shall be subject to and secured by this Security Agreement as additional indebtedness in accordance with the provisions of Section 2.8 hereofrespect thereto. (c) [Intentionally Omitted]