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

Right of Trustee to Pay Taxes and Other Charges. If any tax, assessment or governmental or other charge upon, or insurance premium with respect to, any part of the Project is not paid as required herein or in the Lease, the Trustee may pay such tax, assessment or governmental charge or insurance premium, without prejudice, however, to any rights of the Trustee or the Owners hereunder arising in consequence of such failure; any amount at any time so paid under this Section, with interest thereon from the date of payment at the rate of 10% per annum, shall become an additional 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 proceeds of rents, revenues and receipts collected from the Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it has been requested to do so by the Owners of at least 25% of the aggregate principal amount of Bonds then-Outstanding and has been provided adequate funds for the purpose of such payment.

Right of Trustee to Pay Taxes and Other Charges. If In case any tax, assessment or assessment, governmental or other charge upon, or insurance premium with respect to, upon any part of the Project Collateral is not paid as required herein or in the Leaseherein, the Trustee may pay such tax, assessment assessment, governmental or governmental charge or insurance premiumother charge, without prejudice, however, to any rights of the Trustee or the Owners hereunder Holders arising in consequence of such failure; and any amount at any time so paid under this SectionSection 13.13, with interest thereon from the date of payment at the rate of 10% per annumdetermined by the Trustee, shall become an so much additional obligation indebtedness 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 proceeds of rents, or revenues and receipts collected from the ProjectCollateral, if not otherwise caused to be paid; but the Trustee shall not be under no any obligation to make any such payment unless it has shall have been requested to do so by the Owners Holders of at least twenty-five percent (25% %) of the aggregate principal amount then Aggregate Outstanding Principal Amount of the Bonds then-Outstanding and has shall have been provided with adequate funds for the purpose of such payment.

Right of Trustee to Pay Taxes and Other Charges. If any tax, assessment or governmental or other charge upon, or insurance premium with respect to, upon any part of the Mortgaged Property or the Project is not paid as required herein or in the Leaseherein, the Trustee may pay such tax, assessment or governmental charge or insurance premiumcharge, without prejudice, however, to any rights of the Trustee or the Owners bondholders hereunder arising in consequence of such failure; and any amount at any time so paid under this Section, with interest thereon from the date of payment at the rate of 10% eight per centum (8%) per annum, shall become an so much additional obligation indebtedness secured by this Indenturehereby, and the same shall be given a preference in payment over any payment of the principal of or and interest on the Bonds, Bonds and shall be paid out of the proceeds of rents, revenues and receipts collected from the ProjectMortgaged Property, if not otherwise caused to be paid; but the Trustee shall not be under no obligation to make any such payment unless it has shall have been requested to do so by the Owners holders of at least twenty-five per centum (25% of the aggregate %) in principal amount of the Bonds then-Outstanding and has shall have been provided adequate funds with sufficient moneys for the purpose of making such payment.