Common use of Payment of Taxes; Discharge of Liens Clause in Contracts

Payment of Taxes; Discharge of Liens. 3.12.1. Borrower shall pay when due, and before any interest, collection fees or penalties accrue, all taxes, assessments, encumbrances, liens, mortgages, water or sewer charges and other charges and impositions (collectively, "Impositions") levied, assessed or existing with respect to the Property, or any part of it, and Borrower shall deliver to Lender receipts showing payment of the Impositions. If Borrower fails to pay any of the Impositions, Lender, at its option, may pay such Impositions and the monies paid shall be a lien upon the Property, added to the amount secured by this Mortgage, and payable immediately by Borrower to Lender with interest at the higher of (i) the interest rate, if any, charged by the particular entity levying or assessing the Impositions, or (ii) the highest rate charged by Lender on any of the Indebtedness (but in either case not to exceed the maximum interest rate permitted by law). Notwithstanding the foregoing, Borrower shall have the right and ability to contest any Impositions and no Event of Default hereunder shall be deemed to have occurred so long as Borrower is contesting such Impositions in good faith and by appropriate proceedings and has effectively stayed enforcement of such Impositions. 3.12.2. Following Borrower's failure to pay any such Impositions on two (2) or more occasions during the term of the Note, at the option of Lender, Borrower shall pay to Lender, in advance on the first day of each month, a pro rata portion (as determined by Lender) of all Impositions levied, assessed or existing on the Property. In the event that sufficient funds have been deposited with Lender to cover the amount of these Impositions when they become due and payable, Lender shall pay them. In the event that sufficient funds have not been deposited to cover the amount of these Impositions at least thirty (30) days prior to the time when they become due and payable, Borrower shall immediately pay the amount of the deficiency to Lender. Lender shall not be required to keep a separate account or to pay Borrower any interest on the funds held by Lender for the payment of the Impositions pursuant to this Section 3.10 or for the payment of insurance premiums under Section 3.14 below, or on any other funds deposited with Lender in connection with this Mortgage. The funds on deposit with Lender are further security for the Indebtedness and if an Event of Default occurs under this Mortgage, any funds remaining on deposit with Lender may be applied against the Indebtedness at any time after the Event of Default occurs, and without notice to Borrower.

Payment of Taxes; Discharge of Liens. 3.12.1. Borrower The Company shall pay when dueor cause to be paid all taxes and assessments and other governmental charges lawfully levied or assessed upon the Mortgaged Property, or upon any part thereof, or upon the interest of the Trustee in the Mortgaged Property or the indebtedness secured hereby, before the same shall become delinquent, and before shall make reasonable effort to observe and conform in all material respects to all valid requirements of any interestGovernmental Authority relative to any of the Mortgaged Property and all covenants, collection fees terms and conditions upon or penalties accrue, all taxes, assessments, encumbrances, liens, mortgages, water or sewer charges under which any of the Mortgaged Property is held; and other charges and impositions (collectively, "Impositions") levied, assessed or existing with respect the Company shall not suffer any Lien to be created upon the Mortgaged Property, or any part of itthereof, prior to the Lien hereof, other than Permitted Liens, and Borrower shall deliver to Lender receipts showing payment other than, in the case of Property Additions, Purchase Money Liens and any other Liens existing or placed thereon at the time of the Impositions. If Borrower fails acquisition thereof; PROVIDED, HOWEVER, that nothing in this Section contained shall require the Company (a) to pay or discharge or to cause to be paid or discharged, or to make provision for, any such Lien, or to pay any of the Impositionssuch tax, Lender, at its option, may pay such Impositions and the monies paid shall be a lien upon the Property, added to the amount secured by this Mortgage, and payable immediately by Borrower to Lender with interest at the higher of assessment or governmental charge so long as (i) the interest rateamount, if any, charged by the particular entity levying applicability or assessing the Impositions, or (ii) the highest rate charged by Lender on any of the Indebtedness (but in either case not to exceed the maximum interest rate permitted by law). Notwithstanding the foregoing, Borrower shall have the right and ability to contest any Impositions and no Event of Default hereunder validity thereof shall be deemed to have occurred so long as Borrower is contesting such Impositions contested in good faith and by appropriate proceedings and has effectively stayed enforcement of proceedings, (ii) such Impositions. 3.12.2. Following Borrower's failure to pay any such Impositions on two Lien, tax, assessment or charge is not greater than Five Million Dollars (2$5,000,000) or more occasions during (iii) the term Company shall have established a specific reserve fund therefor and shall maintain adequate reserves on its books for payment of the Notesame, at the option of Lender(b) to pay, Borrower shall pay to Lenderdischarge or make provisions for any tax, in advance on the first day of each month, a pro rata portion (as determined by Lender) of all Impositions levied, assessment or other governmental charge lawfully levied or assessed or existing on imposed, the Property. In the event that sufficient funds have been deposited with Lender to cover the amount validity of these Impositions when they become due and payable, Lender shall pay them. In the event that sufficient funds have not been deposited to cover the amount of these Impositions at least thirty (30) days prior to the time when they become due and payable, Borrower shall immediately pay the amount of the deficiency to Lender. Lender which shall not be required to keep a separate account or to pay Borrower any interest on the funds held by Lender so contested if adequate security for the payment of such tax, assessment or other governmental charge and for any penalties or interest which may reasonably be anticipated from failure to pay the Impositions pursuant same shall be given to the Trustee, or (c) to pay, discharge or make provisions for any Liens existing on the Mortgaged Property at the date of execution and delivery of this Indenture, as originally executed and delivered; and PROVIDED, FURTHER, that nothing in this Section 3.10 shall prohibit the issuance or for the payment other incurrence of insurance premiums under Section 3.14 belowadditional indebtedness, or on the refunding of outstanding indebtedness, secured by any other funds deposited with Lender in connection with this Mortgage. The funds on deposit with Lender are further security for Lien prior to the Indebtedness and if an Event of Default occurs Lien hereof which is permitted under this Mortgage, any funds remaining on deposit with Lender may be applied against the Indebtedness at any time after the Event of Default occurs, and without notice Section to Borrowercontinue to exist.

Payment of Taxes; Discharge of Liens. 3.12.1. (i) Borrower shall pay when due, and before any interest, collection fees or penalties accrue, all taxes, assessments, encumbrances, liens, mortgages, deeds of trust, water or sewer charges and other charges and impositions (individually and collectively, "ImpositionsImposition(s)") levied, assessed or existing with respect to the Mortgaged Property, or any part of it, and Borrower shall will deliver to Lender receipts showing payment of the ImpositionsImposition(s). If Borrower fails to pay any of the ImpositionsImposition(s), Lender, at its option, may pay such Impositions Imposition(s) and the monies paid shall be a lien upon the Mortgaged Property, added to the amount secured by this Mortgage, and payable immediately by Borrower to Lender with interest at the higher of (i) the interest rate, if any, charged by the particular entity levying or assessing the ImpositionsImposition(s), or (ii) the highest rate charged by Lender on any of the Indebtedness (but in either case not to exceed the maximum interest rate permitted by law). Notwithstanding . (ii) Upon the foregoing, Borrower shall have the right and ability to contest any Impositions and no occurrence of an Event of Default hereunder shall be deemed to have occurred so long (as Borrower is contesting such Impositions in good faith and by appropriate proceedings and has effectively stayed enforcement of such Impositions. 3.12.2. Following Borrower's failure to pay any such Impositions on two (2hereinafter defined) or more occasions during the term of the Notehereunder, at the option of Lender, Borrower shall pay to Lender, in advance on the first day of each month, a pro rata portion (as determined by Lender) of all Impositions Imposition(s) levied, assessed or existing on the Mortgaged Property. In the event that sufficient funds have been deposited with Lender to cover the amount of these Impositions Imposition(s) when they become due and payable, Lender shall pay them. In the event that sufficient funds have not been deposited to cover the amount of these Impositions Imposition(s) at least thirty (30) days prior to the time when they become due and payable, Borrower shall immediately pay the amount of the deficiency to Lender. Lender shall not be required to keep a separate account or to pay Borrower any interest on the funds held by Lender for the payment of the Impositions pursuant to this Section 3.10 or for the payment of insurance premiums under Section 3.14 below, or on any other funds deposited with Lender in connection with this Mortgage. The funds on deposit with Lender are further security for the Indebtedness and if an Event of Default occurs under this Mortgage, any funds remaining on deposit with Lender may be applied against the Indebtedness at any time after the Event of Default occurs, and without notice to Borrower.to

Payment of Taxes; Discharge of Liens. 3.12.1. (i) Borrower shall pay when due, and before any interest, collection fees or penalties accrue, all taxes, assessments, encumbrances, liens, mortgages, deeds of trust, water or sewer charges and other charges and impositions (individually and collectively, "ImpositionsImposition(s)") levied, assessed or existing with respect to the Mortgaged Property, or any part of it, and Borrower shall will deliver to Lender receipts showing payment of the ImpositionsImposition(s). If Borrower fails to pay any of the ImpositionsImposition(s), Lender, at its option, may pay such Impositions Imposition(s) and the monies paid shall be a lien upon the Mortgaged Property, added to the amount secured by this Mortgage, and payable immediately by Borrower to Lender with interest at the higher of (i) the interest rate, if any, charged by the particular entity levying or assessing the ImpositionsImposition(s), or (ii) the highest rate charged by Lender on any of the Indebtedness (but in either case not to exceed the maximum interest rate permitted by law). Notwithstanding . (ii) Upon the foregoing, Borrower shall have the right and ability to contest any Impositions and no occurrence of an Event of Default hereunder shall be deemed to have occurred so long (as Borrower is contesting such Impositions in good faith and by appropriate proceedings and has effectively stayed enforcement of such Impositions. 3.12.2. Following Borrower's failure to pay any such Impositions on two (2hereinafter defined) or more occasions during the term of the Notehereunder, at the option of Lender, Borrower shall pay to Lender, in advance on the first day of each month, a pro rata portion (as determined by Lender) of all Impositions Imposition(s) levied, assessed or existing on the Mortgaged Property. In the event that sufficient funds have been deposited with Lender to cover the amount of these Impositions Imposition(s) when they become due and payable, Lender shall pay them. In the event that sufficient funds have not been deposited to cover the amount of these Impositions Imposition(s) at least thirty (30) days prior to the time when they become due and payable, Borrower shall immediately pay the amount of the deficiency to Lender. Lender shall not be required to keep a separate account or to pay Borrower any interest on the funds held by Lender for the payment of the Impositions Imposition(s) pursuant to this Section 3.10 1(e) or for the payment of insurance premiums under Section 3.14 1(g) below, or on any other funds deposited with Lender in connection with this Mortgage. The funds on deposit with Lender are further security for the Indebtedness and if an Event of Default occurs under this Mortgage, any funds remaining on deposit with Lender may be applied against the Indebtedness at any time after the Event of Default occurs, and without notice to Borrower.an