Common use of Recording Taxes Clause in Contracts

Recording Taxes. Borrower shall have caused Guarantors to have paid all mortgage recording taxes payable (if any) in each jurisdiction in which any Mortgaged Property or Additional Mortgaged Property is located. Without limiting the generality of the foregoing, and notwithstanding anything to the contrary contained in any Loan Document, Borrower acknowledges and agrees that, to the extent there is a payment of principal of the Loans which results in the aggregate outstanding principal amount of the Loans being less than the aggregate maximum principal amount of the Loans secured by any Jurisdictional Capped Mortgage(s) (whether or not such aggregate outstanding principal amount of the Loans was originally less than the aggregate maximum principal amount of the Loans secured by such Jurisdictional Capped Mortgage(s) prior to such payment), then (A) Borrower shall cause Guarantors or any Additional Guarantors, as the case may be, to pay additional mortgage recording taxes in connection with any future Borrowing pursuant to this Agreement so that the Jurisdictional Capped Mortgages in existence at or prior to such Borrowing will secure, in accordance with applicable law, the amount of such Borrowing up to the aggregate maximum original principal amount secured by such Jurisdictional Capped Mortgage(s), and (B) if and to the extent that Lender determines in good faith that any such additional mortgage recording taxes are so due and payable in connection with any such future Borrowing and unless Borrower shall have presented to Lender evidence, satisfactory to Lender, that any such additional mortgage recording taxes are not so due and payable, Borrower shall cause Guarantors and/or any Additional Guarantors, as the case may be, to pay such additional mortgage recording taxes to the appropriate governmental taxing authorities.

Recording Taxes. (1) The Borrower shall have caused Guarantors to have paid all mortgage recording taxes payable (if any) in each jurisdiction in which any Mortgaged Property or Additional Mortgaged Collateral Property is located. . (2) Without limiting the generality of the foregoing, and notwithstanding anything to the contrary contained in any Loan DocumentMortgage, the Borrower acknowledges and agrees the Lender specifically acknowledge and agree that, to the extent there is a payment of principal of in connection with the Mortgage Loans which results in the aggregate outstanding principal amount of the Mortgage Loans being less than the aggregate maximum principal amount of the Mortgage Loans secured by any Jurisdictional Capped Mortgage(s) in any one state (whether or not such aggregate outstanding principal amount of the Mortgage Loans was originally less than the aggregate maximum principal amount of the Mortgage Loans secured by such Jurisdictional Capped Mortgage(s) prior to such payment), then (Aa) the Borrower shall cause Guarantors or any Additional Guarantors, as the case may be, thereafter be required to pay additional mortgage recording taxes in connection with any future Borrowing advance or re-advance pursuant to this Agreement so that the Jurisdictional Capped Mortgages in existence at the time of such advance or prior to such Borrowing re-advance will secure, in accordance with applicable law, the amount of such Borrowing advance or re-advance up to the aggregate maximum original principal amount secured by such Jurisdictional Capped Mortgage(s), and (Bb) if and to the extent that the Lender determines reasonably and in good faith determines that any such additional additional (3) As used herein, "Jurisdictional Capped Mortgages" shall collectively mean, for each state, all of the Mortgage(s) now or hereafter covering Collateral Property located in such state which by their terms secure a maximum original principal amount of indebtedness which is less than the Commitment as in effect from time to time, whether for the purpose of limiting the debt secured by such Mortgage and the mortgage recording taxes are so due and payable in connection therewith or otherwise with the Lender's approval; and the "aggregate maximum principal amount of the Mortgage Loans secured by any such future Borrowing and unless Borrower Jurisdictional Capped Mortgage(s)" shall have presented to Lender evidence, satisfactory to Lender, that any mean the aggregate maximum original principal amount of indebtedness secured by all of the Mortgages covering Collateral Property in such additional mortgage recording taxes are not so due and payable, Borrower shall cause Guarantors and/or any Additional Guarantors, state as the case may be, to pay specified in such additional mortgage recording taxes to the appropriate governmental taxing authoritiesMortgages.

Recording Taxes. (i) The Borrower shall have caused Guarantors to have paid all mortgage, mortgage recording and intangible taxes payable (if any) in each jurisdiction in which any Mortgaged Property or Additional Mortgaged Collateral Property is located. located and shall have delivered to the Lender, at commercially reasonable cost, any and all supplemental or additional mortgages, in form and substance satisfactory to the Lender (or otherwise containing terms and conditions substantially similar to those contained in the then existing applicable Jurisdictional Capped Mortgages in existence on the date hereof), as may be reasonably required by the Lender in connection with such Loan to better perfect the Lender's security interests in then-existing Collateral Properties. (ii) Without limiting the generality of the foregoing, and notwithstanding anything to the contrary contained in any Loan DocumentMortgage, the Borrower acknowledges and agrees the Lender specifically acknowledge and agree that, to the extent there is has been a payment of principal of in connection with the Loans which results in the aggregate outstanding principal amount of the Loans being less than the aggregate maximum principal amount of the Loans secured by any particular Jurisdictional Capped Mortgage(s) Mortgage (whether or not such aggregate outstanding principal amount of the Loans was originally less than the aggregate maximum principal amount of the Loans secured by such Jurisdictional Capped Mortgage(s) Mortgage prior to such payment), then (A) the Borrower shall cause Guarantors or any Additional Guarantors, as the case may be, thereafter be required to pay additional mortgage recording taxes in connection with any future Borrowing advance or re-advance pursuant to this Agreement so that if necessary under applicable law for the Jurisdictional Capped Mortgages in existence at or prior to such Borrowing will advance or re-advance to secure, in accordance with applicable law, the amount of such Borrowing advance or re-advance up to the aggregate maximum original principal amount secured by such Jurisdictional Capped Mortgage(s), and (B) if and to the extent that the Lender reasonably determines in good faith that any such additional mortgage recording taxes are so due and payable in connection with any such future Borrowing and unless advance or re-advance, the Borrower shall have presented to Lender evidence, satisfactory to Lender, that any such additional mortgage recording taxes are not so due and payable, Borrower shall cause Guarantors and/or any Additional Guarantors, as the case may be, to pay such additional mortgage recording taxes to the appropriate governmental taxing authorities, and shall duly execute and deliver to the Lender any and all supplemental or additional mortgages and consolidation agreements in form and substance reasonably satisfactory to the Lender (or otherwise containing terms and conditions substantially similar to those contained in the then existing applicable Jurisdictional Capped Mortgages in existence on the date hereof) as may be reasonably required by the Lender in connection therewith. (iii) As used herein, "Jurisdictional Capped Mortgages" shall collectively mean, for each state, all of the Mortgage(s) now or hereafter covering Collateral Property located in such state (and, if the Borrower requests, separate Jurisdictional Capped Mortgages for each such Collateral Property) which secure a maximum original principal amount of indebtedness which is less than the Commitment, whether for the purpose of limiting the debt secured by such Mortgage and the mortgage recording taxes payable in connection therewith or otherwise with the Lender's approval, which will not be unreasonably withheld; and the "aggregate maximum principal amount of the Loans secured by any such Jurisdictional Capped Mortgage(s)" shall mean the aggregate maximum original principal amount of the Loan secured by all of the Mortgages covering Collateral Property in such state, as specified in such Mortgages.

Recording Taxes. Borrower shall have caused Guarantors to have paid all mortgage recording taxes payable (if any) in each jurisdiction in which any Mortgaged Property or Additional Mortgaged the applicable Subject Property is locatedlocated and shall have delivered to Lender any and all supplemental or additional mortgages, in form and substance satisfactory to Lender, as may be required by Lender. Without limiting the generality of the foregoing, and notwithstanding anything to the contrary contained in any Loan Document, Borrower acknowledges and agrees that, agree that to the extent there is a payment of principal of the Loans Loan which results in the aggregate outstanding principal amount of the Loans Loan being less than the aggregate maximum principal amount of the Loans Loan secured by any Jurisdictional Capped Mortgage(s) (whether or not such aggregate outstanding principal amount of the Loans Loan was originally less than the aggregate maximum principal amount of the Loans Loan secured by such Jurisdictional Capped Mortgage(s) prior to such payment), then (A) Borrower shall cause Guarantors or any Additional Guarantors, as the case may be, thereafter be required to pay additional mortgage recording taxes in connection with any future Borrowing pursuant to this Agreement so that the Jurisdictional Capped Mortgages in existence at or prior to such Borrowing will secure, in accordance with applicable law, the amount of such Borrowing up to the aggregate maximum original principal amount secured by such Jurisdictional Capped Mortgage(s), and (B) if and to the extent that Lender determines in good faith that any such additional mortgage recording taxes are so due and payable in connection with any such future Borrowing and unless Borrower shall have presented to Lender evidence, satisfactory to Lender, that any such additional mortgage recording taxes are not so due and payable, Borrower shall cause Guarantors and/or any Additional Guarantors, as the case may be, to pay such additional mortgage recording taxes to the appropriate governmental taxing authorities, and shall duly execute and deliver to Lender any and all supplemental or additional mortgages and consolidation agreements, as may be required by Lender in connection therewith. As used herein, "Jurisdictional Capped Mortgages" shall collectively mean, for each State, all of the Mortgage(s) now or hereafter covering Subject Properties located in such State which secure a maximum original principal amount of indebtedness which is less than the Commitment, whether for the purpose of limiting the debt secured by such Mortgages and any mortgage recording taxes payable in connection therewith or otherwise with approval of Lender; and the "aggregate maximum principal amount of the Loan secured by any such Jurisdictional Capped Mortgage(s)" shall mean, at any time, the aggregate maximum original principal amount of indebtedness secured by all of the Mortgages covering Subject Properties in such State at such time, as specified in such Mortgages.

Recording Taxes. Borrower shall have caused Guarantors to have paid all mortgage recording taxes payable (if any) in each jurisdiction in which any Mortgaged Property or Additional Mortgaged the applicable Subject Property is locatedlocated and shall have delivered to Lender any and all supplemental or additional mortgages, in form and substance satisfactory to Lender, as may be required by Lxxxxx. Without limiting the generality of the foregoing, and notwithstanding anything to the contrary contained in any Loan Document, Borrower acknowledges acknowledge and agrees that, agree that to the extent there is a payment of principal of the Loans which results in the aggregate outstanding principal amount of the Loans being less than the aggregate maximum principal amount of the Loans secured by any Jurisdictional Capped Mortgage(s) (whether or not such aggregate outstanding principal amount of the Loans was originally less than the aggregate maximum principal amount of the Loans secured by such Jurisdictional Capped Mortgage(s) prior to such payment), then (A) Borrower shall cause Guarantors or any Additional Guarantors, as the case may be, thereafter be required to pay additional mortgage recording taxes in connection with any future Borrowing pursuant to this Agreement so that the Jurisdictional Capped Mortgages in existence at or prior to such Borrowing will secure, in accordance with applicable law, the amount of such Borrowing up to the aggregate maximum original principal amount secured by such Jurisdictional Capped Mortgage(s), and (B) if and to the extent that Lender determines in good faith that any such additional mortgage recording taxes are so due and payable in connection with any such future Borrowing and unless Borrower shall have presented to Lender evidence, satisfactory to Lender, that any such additional mortgage recording taxes are not so due and payable, Borrower shall cause Guarantors and/or any Additional Guarantors, as the case may be, to pay such additional mortgage recording taxes to the appropriate governmental taxing authorities, and shall duly execute and deliver to Lender any and all supplemental or additional mortgages and consolidation agreements, as may be required by Lender in connection therewith. As used herein, "Jurisdictional Capped Mortgages" shall collectively mean, for each State, all of the Mortgage(s) now or hereafter covering Subject Properties located in such State which secure a maximum original principal amount of indebtedness which is less than the Commitment, whether for the purpose of limiting the debt secured by such Mortgages and any mortgage recording taxes payable in connection therewith or otherwise with approval of Lender; and the "aggregate maximum principal amount of the Loans secured by any such Jurisdictional Capped Mortgage(s)" shall mean, at any time, the aggregate maximum original principal amount of indebtedness secured by all of the Mortgages covering Subject Properties in such State at such time, as specified in such Mortgages.