Taxes and Other Governmental Charges and Utility Charges. The Lessee shall pay when due all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the Renewable Energy Projects or any part thereof or the Lease Payments, which become due during the Term of this Company Lease Agreement with respect thereto, and all special assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien on the Renewable Energy Projects; provided, however, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Lessee shall be obligated to pay only such installments as are required to be paid during the Term of this Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunder. The Lessee may, at its own expense and in its or the Lessor’s name, contest in good faith any such taxes, assessments or utility or other charges (and the Lessor shall cooperate fully in any such contest) and, in the event of any such contest, permit such taxes, assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, unless the Lessor shall notify the Lessee that, in the opinion of independent counsel, by nonpayment of any such items, the interest of the Lessor in the Renewable Energy Projects shall be materially endangered, or the Renewable Energy Projects or any part thereof shall be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges or provide the Lessor with full security against any loss or forfeiture that may result from nonpayment.
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Taxes and Other Governmental Charges and Utility Charges. The Lessee shall pay when due Company will promptly pay, as the same respectively become due, all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against the Company or the Issuer with respect to the Project or any portion thereof or with respect to the Renewable Energy Projects or original issuance of the Bonds, including, without limiting the generality of the foregoing, any part thereof taxes levied against the Company or the Lease Payments, which become due during the Term of this Company Lease Agreement Issuer upon or with respect theretoto the income or profits of the Issuer from the Project or a charge on the Subrentals prior to or on a parity with the charge under the Indenture thereon and the pledge or assignment thereof to be created and made in the Indenture, and including all special payments in lieu of taxes lawfully required to be paid or assessments lawfully imposed, all ad valorem taxes lawfully assessed upon the Project, all utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Project, all assessments and charges lawfully made by any governmental body against the Company or the Issuer for public improvements that may be secured by a lien or on account of the Project and in addition any excise tax levied against the Company or the Issuer on the Renewable Energy Projects; providedSubrentals or the Mortgage Bond, howeverprovided that, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Lessee Company shall be obligated to pay only such installments as are required to be paid during the Term Lease Term. If the Company shall first notify the Trustee of this its intention so to do, the Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunder. The Lessee may, at its own expense and in its own name and behalf or in the Lessor’s namename and behalf of the Issuer, contest in good faith contest any such taxes, assessments or utility or and other charges (and the Lessor shall cooperate fully in any such contest) and, in the event of any such contest, may permit such the taxes, assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, therefrom unless the Lessor Issuer or the Trustee shall notify the Lessee that, in the opinion of independent counsel, Company that by nonpayment of any such items, items the interest lien of the Lessor in Indenture as to any part of the Renewable Energy Projects shall be materially endangered, Subrentals or the Renewable Energy Projects or any part thereof shall Mortgage Bond will be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges shall be paid promptly or provide secured by posting a bond, in form satisfactory to the Lessor Issuer, with full security against the Trustee. The Issuer will cooperate fully with the Company in any loss or forfeiture that may result from nonpaymentsuch contest.
Appears in 2 contracts
Samples: Equipment Sublease Agreement (Great Plains Energy Inc), Equipment Sublease Agreement (Great Plains Energy Inc)
Taxes and Other Governmental Charges and Utility Charges. The Subject to Section 5.07 hereof, the Lessee shall pay when due agrees to pay, as the same, respectively, become due, all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the Renewable Energy Projects Project or any part thereof structures or other property installed or brought by the Lease PaymentsLessee therein or thereon, which become due during including, without limiting the Term generality of this Company Lease Agreement the foregoing, any taxes levied upon or with respect theretoto the income or profits of the Lessor from the Project which, if not paid, would become a lien or a charge on the revenues and receipts from the leasing of the Project, all utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Project and all special assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien on the Renewable Energy ProjectsProject; provided, however, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Lessee shall be obligated to pay only such installments as are required to be paid during the Term of this Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunderTerm. The Lessee may, at its own expense and in its own name and behalf or in the name and behalf of the Lessor’s name, contest in good faith contest any such taxes, assessments or utility or and other charges (and the Lessor shall cooperate fully in any such contest) and, in the event of any such contest, may permit such the taxes, assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, therefrom unless the Lessor shall notify the Lessee that, in the opinion of independent counsel, by nonpayment non- payment of any such items, items the interest lien of the Lessor in the Renewable Energy Projects shall this Agreement will be materially endangered, endangered or the Renewable Energy Projects Project or any part thereof shall will be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges shall be paid promptly or provide secured by posting a bond, in form satisfactory to the Lessor, with the Lessor. The Lessor will cooperate fully with the Lessee in any such contest. In the event that the Lessee shall fail to pay any of the foregoing items required by this Section to be paid by the Lessee, the Lessor may (but shall be under no obligation to) pay the same and any amounts so advanced therefor by the Lessor shall become an additional obligation of the Lessee to the one making the advancement, which amounts, from the date thereof, together (to the extent permitted by law) with full security against any loss or forfeiture that may result from nonpaymentinterest thereon until paid at a rate per annum equal to ten percent (10%), the Lessee agrees to pay.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Taxes and Other Governmental Charges and Utility Charges. (1) The Lessee shall pay when Grantor will make promptly all payments due all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise on taxes and governmental charges of any kind whatsoever that may at any time be special assessments lawfully assessed or levied against upon or with respect to the Renewable Energy Projects or any part thereof Land or the Lease PaymentsFacilities, which become due during the Term of this Company Lease Agreement with respect thereto, and all special assessments and other charges lawfully made by any governmental body for public improvements that may be or become secured by a lien on the Renewable Energy Projects; providedLand or the Facilities, howeverand utility and other charges incurred in the operation, that maintenance, use, occupancy, and upkeep of the Land or the Facilities, including but not limited to taxes or governmental charges on any property of the Grantor brought in or upon the Land, sales and other excise taxes on products thereof, and any taxes levied upon or with respect to income or profits from the Facilities which, if not paid, would become a lien thereon prior to or on a parity with the pledge and assignment of such revenues and receipts made in this Trust Indenture. With respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, with or without interest, the Lessee Grantor shall be obligated to pay only such installments and interest as are required to be paid during the Term of this Company Lease Agreement as and when the same become come due. The Lessee .
(2) Subject to Section 11 of the Conference Center and Parking Facility Development Agreement and Section 8 of the Conference Center Lease Agreement, the Grantor shall not be required have the right to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable contest by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunder. The Lessee maylegal proceedings, at its own expense and in its or the Lessor’s nameand, contest in good faith any such taxes, assessments or utility or other charges (and the Lessor shall cooperate fully in any such contest) andif necessary, in the event name of the Trustee and the Beneficiary, the validity or amount of any such contestimposition of said real property taxes and assessments; provided, permit such taxeshowever, assessments that any unpaid amount shall also be placed in escrow with the Beneficiary, pursuant to the foregoing provisions and disbursed by the Beneficiary either in accordance with the resolution of said legal proceedings or other charges so contested to remain unpaid during prior thereto if at any time the period of such contest and any appeal therefrom, unless the Lessor shall notify the Lessee that, in the opinion of independent counsel, by nonpayment of any such items, the interest of the Lessor in the Renewable Energy Projects shall be materially endangered, Land or the Renewable Energy Projects Facilities or any part thereof shall be subject to loss or forfeitureshall, in which event the Lessee shall promptly pay such taxesBeneficiary’s reasonable opinion, assessments be in danger of being forfeited or charges sold by reason of the nonpayment of taxes or provide the Lessor with full security against any loss or forfeiture that may result from nonpaymentassessments.
Appears in 1 contract
Samples: Combination Trust Indenture, Security Agreement and Fixture Filing Statement
Taxes and Other Governmental Charges and Utility Charges. The Subject to Section 5.8 hereof, the Lessee shall pay when due agrees to pay, as the same, respectively, become due, all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the Renewable Energy Projects Leased Facilities or any part thereof structures or other property installed or brought by the Lease Payments, which become due during the Term of this Company Lease Agreement Lessee therein or thereon or with respect theretoto the original issuance of the Bonds, including, without limiting the generality of the foregoing, any taxes levied upon or with respect to the original issuance of the Bonds, any taxes levied upon or with respect to the income or profits of the Lessor from the Leased Facilities which, if not paid, would become a lien or a charge on the revenues and receipts from the leasing of the Leased Facilities prior to or on a parity with the lien and charge under the Indenture thereon and the pledge or assignment thereof to be created and made in the Indenture and including all ad valorem taxes lawfully assessed upon the leasehold estate hereby granted and demised and leased to the Lessee, all utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Leased Facilities and all special assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien on the Renewable Energy ProjectsLeased Facilities; provided, however, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Lessee shall be obligated to pay only such installments as are required to be paid during the Term of this Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunderTerm. The Lessee may, at its own expense and in its own name and on behalf or in the name and on behalf of the Lessor’s name, contest in good faith contest any such taxes, assessments or utility or and other charges (and the Lessor shall cooperate fully in any such contest) and, in the event of any such contest, may permit such the taxes, assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, therefrom unless the Lessor shall notify the Lessee that, in the opinion of independent counsel, by nonpayment non-payment of any such items, items the interest lien of the Lessor in the Renewable Energy Projects shall this Agreement will be materially endangered, endangered or the Renewable Energy Projects Leased Facilities or any part thereof shall will be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges shall be paid promptly or provide secured by posting a bond, in form satisfactory to the Lessor, with the Trustee. The Lessor will cooperate fully with the Lessee in any such contest. In the event that the Lessee shall fail to pay any of the foregoing items required by this Section to be paid by the Lessee, the Lessor or the Trustee may (but shall be under no obligation to) pay the same and any amounts so advanced therefor by the Lessor or the Trustee shall become an additional obligation of the Lessee to the one making the advancement, which amounts, from the date thereof, together (to the extent permitted by law) with full security against interest thereon until paid at a rate per annum which is one percentage point greater than the highest rate per annum borne by any loss or forfeiture that may result of the Bonds issued under the Indenture, the Lessee agrees to pay. The Lessor does hereby acknowledge that, subject to the applicable law of the State, and provided no event of default (as defined in Section 9.1 hereof) exists, the Leased Facilities are to be exempt from nonpaymentad valorem taxes.
Appears in 1 contract
Taxes and Other Governmental Charges and Utility Charges. The Lessee shall pay when Company will make, or will cause to be made, promptly all payments due all gasduring the Term of this Loan Agreement on taxes and special assessments lawfully levied upon or with respect to the Project, waterother charges lawfully made by any governmental body for public improvements that may be or become secured by a lien on the Project, steam, electricity, heat, power, telephone and utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all Project, including but not limited to taxes or governmental charges on any property of the Company brought in or upon the Project, sales and other excise taxes on products thereof, and governmental charges of any kind whatsoever that may at any time be lawfully assessed or taxes levied against upon or with respect to income or profits from the Renewable Energy Projects or any part thereof or the Lease PaymentsProject which, which if not paid, would become due during the Term of this Company Lease Agreement with respect thereto, and all special assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien thereon prior to or on a parity with the Renewable Energy Projects; provided, however, that lien of the Mortgage or prior to or on a parity with the pledge and assignment of such revenues and receipts made in the Mortgage. With respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, with or without interest, the Lessee Company shall be obligated to pay only such installments and interest as are required to be paid during the Term of this Loan Agreement. Notwithstanding the foregoing, the Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunder. The Lessee may, at its own expense and expense, in its or the Lessor’s namegood faith, contest in good faith any such taxes, assessments and other charges, provided that such contest will not subject the Project or utility any part thereof to loss or other charges (forfeiture and provided that the Lessor Company shall cooperate fully in any such contest) and, first deposit with the Trustee a surety bond or cash in the event amount of any such contest, permit such the taxes, assessments or other charges so contested to remain unpaid during being contested, pending the period outcome of such contest and any appeal therefrom, unless the Lessor shall notify the Lessee that, in the opinion of independent counsel, by nonpayment of any such items, the interest of the Lessor in the Renewable Energy Projects shall be materially endangered, or the Renewable Energy Projects or any part thereof shall be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges or provide the Lessor with full security against any loss or forfeiture that may result from nonpaymentcontest.
Appears in 1 contract
Samples: Loan Agreement (Flanders Corp)
Taxes and Other Governmental Charges and Utility Charges. The Lessee shall pay when due Company will promptly pay, as the same respectively become due, all gas, water, steam, electricity, heat, power, telephone and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Renewable Energy Projects. The Lessee shall also pay all property and excise taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against the Company or the Issuer with respect to the Project or any portion thereof or with respect to the Renewable Energy Projects or original issuance of the Bonds, including, without limiting the generality of the foregoing, any part thereof taxes levied against the Company or the Lease Payments, which become due during the Term of this Company Lease Agreement Issuer upon or with respect theretoto the income or profits of the Issuer from the Project or a charge on the Subrentals prior to or on a parity with the charge under the Indenture thereon and the pledge or assignment thereof to be created and made in the Indenture, and including all special payments in lieu of taxes lawfully required to be paid or assessments lawfully imposed, all ad valorem taxes lawfully assessed upon the Project, all utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Project, all assessments and charges lawfully made by any governmental body against the Company or the Issuer for public improvements that may be secured by a lien or on account of the Project and in addition any excise tax levied against the Company or the Issuer on the Renewable Energy Projects; providedSubrentals, howeverprovided that, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Lessee Company shall be obligated to pay only such installments as are required to be paid during the Term Lease Term. If the Company shall first notify the Trustee of this its intention so to do, the Company Lease Agreement as and when the same become due. The Lessee shall not be required to pay any federal, state or local income, inheritance, estate, succession, transfer, gift, franchise, gross receipts, profit, excess profit, capital stock, corporate or other similar tax payable by the Lessor, its successors or assigns, unless such tax is made in lieu of or as a substitute for any real estate or other tax upon property and arises out of or is levied upon the Lessor’s interest in the Renewable Energy Projects hereunder. The Lessee may, at its own expense and in its own name and behalf or in the Lessor’s namename and behalf of the Issuer, contest in good faith contest any such taxes, assessments or utility or and other charges (and the Lessor shall cooperate fully in any such contest) and, in the event of any such contest, may permit such the taxes, assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, therefrom unless the Lessor Issuer or the Trustee shall notify the Lessee that, in the opinion of independent counsel, Company that by nonpayment of any such items, items the interest lien of the Lessor in the Renewable Energy Projects shall be materially endangered, or the Renewable Energy Projects or Indenture as to any part thereof shall of the Subrentals will be subject to loss or forfeiture, in which event the Lessee shall promptly pay such taxes, assessments or charges shall be paid promptly or provide secured by posting a bond, in form satisfactory to the Lessor Issuer, with full security against the Trustee. The Issuer will cooperate fully with the Company in any loss or forfeiture that may result from nonpaymentsuch contest.
Appears in 1 contract
Samples: Equipment Sublease Agreement (Great Plains Energy Inc)