Common use of Payment of Taxes and Other Impositions Clause in Contracts

Payment of Taxes and Other Impositions. Subject to the terms of clause (d) below, Mortgagor, prior to delinquency, shall pay and discharge all taxes of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes), all charges for any easement or agreement maintained for the benefit of any of the Mortgaged Property, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged Property, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to as the "Impositions"). Mortgagor shall within thirty (30) days after the written request of Mortgagee deliver to Mortgagee (i) copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any Imposition. If by law any Imposition, at Mortgagor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 2 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

AutoNDA by SimpleDocs

Payment of Taxes and Other Impositions. Subject (a) Prior to the terms of clause (d) belowdate on which any fine, Mortgagorpenalty, prior to delinquencyinterest or cost may be added thereto or imposed, Grantor shall pay and discharge all taxes taxes, charges and assessments of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes)nature, all charges for any easement or agreement maintained for the benefit of any of the Mortgaged PropertyReal Estate, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges charges, vault taxes and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged PropertyReal Estate, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to herein as the "Impositions"). Mortgagor shall within thirty (30) days after the written request of Mortgagee deliver to Mortgagee , except where (i) copies of receipted bills the validity or amount thereof is being contested in good faith by appropriate proceedings, and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or (ii) other the Grantor has set aside on its books adequate reserves with respect thereto in accordance with, and if required by, GAAP, or except as would not have a Material Adverse Effect. Upon request by Beneficiary, Grantor shall deliver to Beneficiary evidence reasonably acceptable to Mortgagee Beneficiary showing the payment of any such Imposition. If by law any Imposition, at Mortgagor's Grantor’s option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor Grantor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any, as such installments become due.

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Fender Musical Instruments Corp)

Payment of Taxes and Other Impositions. Subject Promptly when due or prior to the terms of clause (d) belowdate on which any fine, Mortgagorpenalty, prior to delinquencyinterest or cost may be added thereto or imposed, Mortgagor shall pay and discharge all taxes taxes, charges and assessments of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes)nature, all charges for any easement or agreement maintained for the benefit of any of the Mortgaged PropertyReal Estate, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges charges, vault taxes and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged PropertyReal Estate, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to herein as the "Impositions"), except where otherwise permitted under Section 5.3 of the Credit Agreement. Upon request by Mortgagee, Mortgagor shall within thirty (30) days after the written request of Mortgagee deliver to Mortgagee (i) copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any such Imposition. If by law any Imposition, at Mortgagor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 1 contract

Samples: Credit Agreement (Spheris Operations Inc.)

Payment of Taxes and Other Impositions. Subject Except as provided in 4(d) below prior to the terms imposition of clause (d) belowany interest or penalties for nonpayment, Mortgagor, prior to delinquency, Mortgagor shall pay and discharge all taxes of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes), all charges for any easement or agreement maintained for the benefit of any of the Mortgaged Property, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged Property, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to as the "Impositions"). Mortgagor shall furnish Mortgagee upon request within thirty (30) 30 days after the written request of Mortgagee deliver to Mortgagee date upon which any such Imposition is payable hereunder by Mortgagor (i) original or copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or and (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any other such Imposition. If by law any Imposition, at Mortgagor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 1 contract

Samples: Credit Agreement (International Multifoods Corp)

Payment of Taxes and Other Impositions. Subject to the terms of clause (da) belowPromptly when due and payable, Mortgagor, prior to delinquency, Mortgagor shall pay and discharge all taxes of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes), all charges for any easement or agreement maintained for the benefit of any of the Mortgaged Property, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges charges, vault taxes, and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged Property, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to as the "Impositions"), except for such Impositions as Mortgagor is contesting in accordance with Section 6.11 of the Credit Agreement. Upon request by Mortgagee, Mortgagor shall within thirty (30) days after the written request of Mortgagee deliver to Mortgagee (i) original or copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or and (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any other such Imposition. If by law any Imposition, at Mortgagor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Young & Rubicam Inc)

AutoNDA by SimpleDocs

Payment of Taxes and Other Impositions. Subject to Except as may be permitted by the terms of clause (d) belowCredit Agreement, MortgagorGrantor shall, prior to delinquencythe date on which any fine, shall penalty, interest or cost may be added thereto or imposed, pay and discharge all taxes taxes, charges and assessments of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes)nature, all charges for any easement or agreement maintained for the benefit of any of the Mortgaged PropertyReal Estate, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges charges, all vault taxes and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which that may become a material lien on any of the Mortgaged PropertyReal Estate, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to herein as the "Impositions"). Mortgagor shall within thirty , except where the validity or amount thereof is being contested in good faith and by proper proceedings, so long as Grantor maintains adequate reserves (30in the good faith judgment of the management of the Borrower) days after with respect thereto in accordance with GAAP and the written request of Mortgagee deliver failure to Mortgagee (i) copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is pay could not reasonably be expected to result in a real estate tax or other public charge or (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any ImpositionMaterial Adverse Effect. If by law any Imposition, at Mortgagor's option, Imposition may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor Grantor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 1 contract

Samples: Credit Agreement (Energy Future Intermediate Holding CO LLC)

Payment of Taxes and Other Impositions. Subject (a) Prior to the terms of clause (d) belowdate on which any fine, Mortgagorpenalty, prior to delinquencyinterest or cost may be added thereto or imposed, Mortgagor shall pay and discharge all taxes taxes, charges and assessments of every kind and nature (including, without limitation, all real and personal property, income, franchise, withholding, transfer, gains, profits and gross receipts taxes)nature, all charges for any easement or agreement maintained for the benefit of any of the Mortgaged PropertyReal Estate, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges charges, vault taxes and all other public charges even if unforeseen or extraordinary, in each case, imposed upon or assessed against or which may become a lien on any of the Mortgaged PropertyReal Estate, or arising in respect of the occupancy, use or possession thereof, together with any penalties or interest on any of the foregoing (all of the foregoing are collectively referred to herein as the "Impositions"), except where (i) the validity or amount thereof is being contested in good faith by appropriate proceedings, and (ii) the Mortgagor has set aside on its books adequate reserves with respect thereto in accordance with GAAP. Upon request by Mortgagee, Mortgagor shall within thirty (30) days after the written request of Mortgagee deliver to Mortgagee (i) copies of receipted bills and cancelled checks evidencing payment of such Imposition if it is a real estate tax or other public charge or (ii) other evidence reasonably acceptable to Mortgagee showing the payment of any such Imposition. If by law any Imposition, at Mortgagor's option, may be paid in installments (whether or not interest shall accrue on the unpaid balance of such Imposition), Mortgagor may elect to pay such Imposition in such installments and shall be responsible for the payment of such installments with interest, if any.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (M & F Worldwide Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!