Property Taxes and Other Charges. Borrower shall promptly pay or cause to be paid all Property Taxes and Other Charges now or hereafter levied, assessed or imposed on it as the same become due and payable and shall furnish to Lender receipts for the payment of the Property Taxes and Other Charges prior to the date the same shall become delinquent, and shall promptly pay for all utility services provided to the Property as the same become due and payable (other than any such utilities which are, pursuant to the terms of any Lease, required to be paid by the Tenant thereunder directly to the applicable service provider); provided that, after prior notice to Lender, such Loan Party may contest by appropriate legal proceedings conducted in good faith and with due diligence, the amount or validity of any such Property Taxes and Other Charges and, in such event, may permit the Property Taxes and Other Charges so contested to remain unpaid during any period, including appeals, when a Loan Party is in good faith contesting the same so long as (i) no Event of Default has occurred and remains uncured, (ii) such proceeding shall be permitted under and be conducted in accordance with all applicable Legal Requirements, (iii) no Property or other Collateral nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, canceled or lost, (iv) the applicable Loan Party has set aside on its books adequate reserves in accordance with GAAP, and the non-payment or non-discharge of such Property Taxes and Other Charges would not reasonably be expected to have an Individual Material Adverse Effect on the applicable Property, (v) enforcement of the contested Property Taxes and Other Charges is effectively stayed for the entire duration of such contest and no Lien is imposed on any Property or other Collateral which is reasonably expected to have an Individual Material Adverse Effect, (vi) any Property Taxes and Other Charges determined to be due, together with any interest or penalties thereon, is promptly paid as required after final resolution of such contest, (vii) to the extent such Property
Property Taxes and Other Charges. There are no delinquent Property Taxes or Other Charges outstanding with respect to the Property, other than Property Taxes or Other Charges that may exist in accordance with Section 4.4.5. As of the Closing Date, there are no pending or, to Borrower’s or Manager’s knowledge, proposed, special or other assessments for homeowner’s association improvements affecting the Property that would reasonably be expected to have an Individual Material Adverse Effect with respect to the Property.
Property Taxes and Other Charges. (a) Borrower shall pay (or cause to be paid) all Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property or any part thereof prior to the date the same shall become delinquent, subject to Borrower’s right to contest any Taxes and Other Charges pursuant to Section 4.5(b) below; provided, however, prior to the occurrence and continuance of an Event of Default, Borrower’s obligation to directly pay such Taxes shall be suspended for so long as Borrower complies with the terms and provisions of Section 8.6
Property Taxes and Other Charges. To the extent any are due, all taxes of every kind and nature, including, without limitation, all general and special assessments, levies, permits, inspection and license fees, all water and sewer rents and charges, all payments in lieu of real estate taxes, payments in lieu of sales taxes, and payments in lieu of mortgage recording taxes due under the Ground Lease or the Severance Subleases and all other public charges whether of a like or different nature, imposed upon or assessed against Borrower, the Members, the Mortgaged Property or any part thereof, or upon the revenue, rents, issues, income and profits of Borrower, the Members, the Mortgaged Property, or any part thereof, or arising in respect of the occupancy, use or possession thereof (collectively, “Property Taxes”), and all utility fees and charges in connection with the Mortgaged Property have been paid.
Property Taxes and Other Charges. There are no delinquent Property Taxes or Other Charges outstanding with respect to the Property, other than Property Taxes or Other Charges that may exist in accordance with Section 4.4.8. There are no pending or, to the Knowledge of any Loan Party or the Property Manager, proposed in writing, special or other assessments for HOA improvements affecting the Property that would reasonably be expected to have an Individual Material Adverse Effect with respect to the Property, other than those which have been paid.
Property Taxes and Other Charges. Borrower shall promptly pay or cause to be paid all Property Taxes and Other Charges now or hereafter levied, assessed or imposed on it as the same become due and payable and shall furnish to Lender receipts or other evidence for the payment of the Property Taxes (other than water and sewer charges), and Other Charges prior to the date the same shall become delinquent, and shall promptly pay for all utility services provided to the Property as the same become due and payable (other than any such utilities which
Property Taxes and Other Charges. Borrower shall pay all Property Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property or any part thereof as the same become due and payable and Borrower shall furnish to Agent receipts for the payment of the Property Taxes and the Other Charges at least ten (10) days prior to the date the same shall become delinquent. Notwithstanding the foregoing, Borrower may, at its own expense, exercise Borrower’s Contest Right with respect to any Property Taxes and Other Charges. Borrower shall not permit or suffer and shall promptly discharge any Lien (other than Permitted Encumbrances) against the Property, by payment, bonding or otherwise and, to the extent that such Lien was bonded and not discharged, within sixty (60) days after the Lien was bonded and as reasonably requested by Agent thereafter (but no more frequently than once every sixty (60) days), Borrower shall consult with Agent regarding the status of such Lien.
Property Taxes and Other Charges. (a) Borrower shall pay, or shall cause its Tenant(s) to pay (to the extent any Tenant is obligated to make such payments under its Lease), all Property Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property or any part thereof as the same become due and payable (and with respect to Property Taxes, prior to the date the same become delinquent); provided, however, Borrower’s obligation to directly pay Property Taxes shall be suspended for so long as Borrower complies with the terms and provisions of Section 6.2 hereof. Upon Administrative Agent’s request, Borrower shall furnish to Administrative Agent receipts for the payment or other evidence satisfactory to Agent that the Property Taxes and the Other Charges have been so paid prior to the date the same shall become delinquent; provided, however, that Borrower is not required to furnish such receipts for payment of Property Taxes so long as Borrower complies with the terms and provisions of Section 6.2
Property Taxes and Other Charges. Borrowers shall pay or cause to be paid all Property Taxes and Other Charges no later than five (5) Business Days before the dates on which the same would become delinquent and Borrowers shall produce to Lender receipts of the imposing authority, or other evidence reasonably satisfactory to Lender, evidencing the payment of the Property Taxes and Other Charges in full. Borrowers may elect by appropriate legal action to contest any Property Tax or Other Charge, provided, however, Borrowers shall first deposit cash with Lender as a reserve in an amount which Lender reasonably determines is sufficient to pay the Property Tax or Other Charge plus all fines, interest, penalties and costs which may become due pending the determination of the contest. If a Borrower deposits this sum with Lender, such Borrower shall not be required to pay the applicable Property Tax or Other Charge provided that the contest operates to prevent enforcement or collection of the applicable Property Tax or Other Charge, and the sale and forfeiture of, the applicable Property, and is prosecuted with due diligence and continuity. Upon termination of any proceeding or contest, such Borrower shall pay the amount of the imposition as finally determined in the proceeding or contest. Provided that there is not then an Event of Default, the monies which have been deposited with Lender pursuant to this Section shall be applied toward such payment and the excess, if any, shall be returned to such Borrower.
Property Taxes and Other Charges. Borrower shall pay all Property Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property as the same become due and payable provided, however, Lender will apply the Property Tax and Insurance Escrow Fund to payments of Property Taxes required to be paid by Borrower so long as Borrower complies with the terms and provisions of Section 9.2
