Common use of Right of Trustee to Pay Taxes and Other Charges Clause in Contracts

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon any part of the property herein conveyed is not paid as required herein or by law, the Trustee may pay such tax, assessment or governmental charge, without prejudice, however, to any rights of the Trustee or the Holders hereunder arising as a result of such failure; and any amount at any time so paid under this Section with interest thereon from the date of payment at the Interest Rate for Advances, shall become so much additional indebtedness secured by this Indenture, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under the Letter of Credit), if not otherwise paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders of at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of payment.

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon upon, or insurance premium with respect to, any part of the property herein conveyed Project is not paid as required herein or by lawin the Lease, and the Company has failed after 30 days’ written notice to make such payment, the Trustee may pay such tax, assessment or governmental chargecharge or insurance premium or rebate amount, without prejudice, however, to any rights of the Trustee or the Holders Bondowners hereunder arising as a result in consequence of such failure; and any amount at any time so paid under this Section Section, with interest thereon from the date of payment at a rate per annum equal to the Interest Rate for AdvancesTrustee’s published prime rate in effect at the time, shall become so much an additional indebtedness obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of, premium, if any, or interest on the Bonds, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under rents, revenues and receipts collected from the Letter of Credit)Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders of at least 25Bondowners owning 100% of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of such payment.

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon any part of the property herein conveyed Trust Estate is not paid as required herein or by lawherein, the Trustee may pay such tax, assessment or governmental or other charge, without prejudice, however, to any rights of the Trustee or the Holders Bondholders hereunder arising as a result in consequence of such failure; and any amount at any time so paid under this Section Section, with interest thereon from the date of payment at the Interest Rate for Advancesrate of interest which is one percent (1%) higher than the highest rate of interest borne by any of the Bonds, shall become so much additional indebtedness secured by this Indenture, and the same shall be given a preference in payment over any of the Bonds, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under revenues collected from the Letter of Credit)property herein conveyed, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so in writing by the Holders holders of at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of payment.twenty-five percent

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon upon, or insurance premium with respect to, any part of the property herein conveyed Project is not paid as required herein or by lawin the Agreement, or in case any amount required to be rebated to the United States pursuant to the provisions of Section 148(f) of the Code is not paid when due, the Trustee may pay such tax, assessment or governmental charge, insurance premium, or rebate amount, without prejudice, however, to any rights of the Trustee or the Holders Bondowners hereunder arising as a result in consequence of such failure; and any amount at any time so paid under this Section Section, with interest thereon from the date of payment at a rate per annum equal to the Interest Rate Trustee's base rate for Advancesvariable rate commercial loans in effect at the time plus two percent (2%), shall become so much an additional indebtedness obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of, premium, if any, or interest on the Bonds, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under rents, revenues and receipts collected from the Letter of Credit)Project, not including payments on the Credit Facility, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders Credit Enhancer or the Owners of at least twenty-five percent (25% %) of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of such payment.. [End of Article IX]

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon upon, or insurance premium with respect to, any part of the property herein conveyed Project is not paid as required herein or by lawin the Lease (subject to applicable notice and cure periods), the Trustee may pay such tax, assessment or governmental chargecharge or insurance premium, without prejudice, however, to any rights of the Trustee or the Holders Bondowners hereunder arising as a result in consequence of such failure; and any amount at any time so paid under this Section Section, with interest thereon from the date of payment at the Interest Rate for Advancesrate of 10% per annum, shall become so much an additional indebtedness obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of or interest on the Bonds, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under rents, revenues and receipts collected from the Letter of Credit)Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders Owners of at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of such payment.

Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon upon, or insurance premium with respect to, any part of the property herein conveyed Project is not paid as required herein or by lawin the Lease or in case in the amount required to be rebated to the United States pursuant to provisions of Section 148(f) of the Code is not paid when due, the Trustee may pay such tax, assessment or governmental chargecharge or insurance premium or rebated amount, without prejudice, however, to any rights of the Trustee or the Holders Bondowners hereunder arising as a result in consequence of such failure; and any amount at any time so paid under this Section Section, with interest thereon from the date of payment at a rate per annum equal to the Interest Rate for AdvancesTrustee's published prime rate in effect at the time plus 2%, shall become so much an additional indebtedness obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of, premium, if any, or interest on the Bonds, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under rents, revenues and receipts collected from the Letter of Credit)Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders Owners of at least 25% of the aggregate principal amount of any series of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of such payment.