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, governmental or other charge upon any part of the Collateral is not paid as required herein, the Trustee may pay such tax, assessment, governmental or other charge, without prejudice, however, to any rights of the Trustee or the Holders arising in consequence of such failure; and any amount at any time so paid under this Section 13.13, with interest thereon from the date of payment at the rate determined by the Trustee, 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 proceeds or revenues collected from the Collateral, if not otherwise caused to be paid; but the Trustee shall not be under any obligation to make any such payment unless it shall have been requested to do so by the Holders of at least twenty-five percent (25%) of the then Aggregate Outstanding Principal Amount of the Bonds 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 If any tax, assessment, assessment or governmental or other charge upon upon, or insurance premium with respect to, any part of the Collateral Project is not paid as required hereinherein or in the Lease, the Trustee may pay such tax, assessment, assessment or governmental charge or other chargeinsurance premium, without prejudice, however, to any rights of the Trustee or the Holders Owners hereunder arising in consequence of such failure; and any amount at any time so paid under this Section 13.13Section, with interest thereon from the date of payment at the rate determined by the Trusteeof 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 proceeds or of rents, revenues and receipts collected from the CollateralProject, if not otherwise caused to be paid; but the Trustee shall not be under any no obligation to make any such payment unless it shall have has been requested to do so by the Holders Owners of at least twenty-five percent (25%) % of the then Aggregate aggregate principal amount of Bonds then-Outstanding Principal Amount of the Bonds and shall have has 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, governmental or other charge upon any part of the Collateral is not paid as required herein, the Trustee may pay such tax, assessment, governmental or other charge, without prejudice, however, to any rights of the Trustee or the Holders arising in consequence of such failure; and any amount at any time so paid under this Section 13.13, with interest thereon from the date of payment at the rate determined by the Trustee, 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 proceeds or revenues collected from the Collateral, if not otherwise caused to be paid; but the Trustee shall not be under any obligation to make any such payment unless it shall have been requested to to, do so by the Holders of at least twenty-five percent (25%) of the then Aggregate Outstanding Principal Amount of the Bonds 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 If any tax, assessment, assessment or governmental or other charge upon any part of the Collateral Mortgaged Property or the Project is not paid as required herein, the Trustee may pay such tax, assessment, governmental assessment or other charge, without prejudice, however, to any rights of the Trustee or the Holders bondholders hereunder arising in consequence of such failure; and any amount at any time so paid under this Section 13.13Section, with interest thereon from the date of payment at the rate determined by the Trusteeof eight per centum (8%) per annum, shall become so much additional indebtedness secured by this Indenturehereby, and the same shall be given a preference in payment over any the principal of and interest on the Bonds, Bonds and shall be paid out of the proceeds or revenues collected and receipts from the CollateralMortgaged Property, if not otherwise caused to be paid; but the Trustee shall not be under any obligation to make any such payment unless it shall have been requested to do so by the Holders holders of at least twenty-five percent per centum (25%) of the then Aggregate Outstanding Principal Amount in principal amount of the Bonds and shall have been provided with adequate funds sufficient moneys for the purpose of making such payment.