Tax Indemnification. If the Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the Borrower.
Appears in 108 contracts
Samples: Credit Agreement (Kite Realty Group Trust), Term Loan Agreement (Kite Realty Group Trust), Term Loan Agreement (Wells Real Estate Investment Trust Ii Inc)
Tax Indemnification. If the Borrower fails Borrowers fail to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower Borrowers shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the BorrowerBorrowers.
Appears in 15 contracts
Samples: Credit Agreement (Lepercq Corporate Income Fund L P), Credit Agreement (Epr Properties), Credit Agreement (Epr Properties)
Tax Indemnification. If the Borrower fails Borrowers fail to pay any Taxes when due to the appropriate Governmental Authority or fails fail to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower Borrowers shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the BorrowerBorrowers.
Appears in 3 contracts
Samples: Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership), Credit Agreement (Maguire Properties Inc)
Tax Indemnification. If the Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails fail to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Maguire Properties Inc), Credit Agreement (Gables Realty Limited Partnership)
Tax Indemnification. If the any Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Morgans Hotel Group Co.), Credit Agreement (Morgans Hotel Group Co.)
Tax Indemnification. If the Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective LenderBank, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders Banks for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender Bank as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender Bank to or for the account of any Lender Bank shall be deemed a payment by the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Price Legacy Corp)
Tax Indemnification. If the Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, Agent for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the Borrower.
Appears in 1 contract
Tax Indemnification. If the Borrower fails to pay any Taxes when due to the appropriate Governmental Authority governmental authority or fails to remit to the Agent, for its account or the account of the respective LenderBank, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders Banks for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender Bank as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender Bank to or for the account of any Lender Bank shall be deemed a payment by the Borrower.
Appears in 1 contract
Samples: Loan Agreement (Grubb & Ellis Healthcare REIT, Inc.)
Tax Indemnification. If the Borrower fails to pay any Taxes in respect of the Loan when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Chartermac)
Tax Indemnification. If the a Borrower fails to pay any Taxes when due to the appropriate Governmental Authority or fails to remit to the Agent, for its account or the account of the respective Lender, as the case may be, the required receipts or other required documentary evidence, the such Borrower shall indemnify the Agent and the Lenders for any incremental Taxes, interest or penalties that may become payable by the Agent or any Lender as a result of any such failure. For purposes of this Section, a distribution hereunder by the Agent or any Lender to or for the account of any Lender shall be deemed a payment by the a Borrower.
Appears in 1 contract
