Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 9 contracts
Samples: Mortgage (Autoscope Technologies Corp), Mortgage (Adcare Health Systems, Inc), Corporate Resolution (Abidon Inc)
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of DefaultDefault (as defined below), and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1a) pays the tax before it becomes delinquent, or (2b) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 4 contracts
Samples: Mortgage (Dynamic Health Products Inc), Loan and Security Agreement (Snowdance Inc), Mortgage (Prime Cellular Inc)
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 3 contracts
Samples: Mortgage and Security Agreement (Shepherd's Finance, LLC), Mortgage and Security Agreement (Shepherd's Finance, LLC), Mortgage and Security Agreement (Shepherd's Finance, LLC)
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, Default (as defined below) and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1a) pays the tax before it becomes delinquent, or (2b) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 1 contract
Samples: K Mart Redevelopment Agreement
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it 'becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 1 contract
Samples: Mortgage (Dynasil Corp of America)
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Mortgage, this event shall have the same effect as an Event of DefaultDefault (as defined below), and Lender may exercise any or all of its available remedies for an any Event of Default as provided below unless Grantor either (1a) pays the tax before it becomes delinquent, or (2b) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
Appears in 1 contract
