Common use of Taxes and Other Obligations Clause in Contracts

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property (collectively, "Charges"). Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such Charges, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to any such Charges; (b) such contest stays the enforcement or collection of the Charges or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

Taxes and Other Obligations. Borrower shall pay, when due, The Borrowers will pay and before any interest, collection fees or penalties shall accrue, discharge all taxes, assessmentsassessments and governmental charges or levies imposed upon it or them, finesor upon its or their income or profits, impositions or upon any properties belonging to it or them, and other charges and obligationsall lawful claims which, which may if unpaid, might become a lien on or charge against upon any properties of either Borrowers prior to the Property earlier of (collectivelyi) ten (10) days following the date on which penalties or interest would attach thereto, "Charges"). or (ii) the date upon which any lien or charge with respect thereto upon any properties of either Borrower would attach thereto; provided that the Borrowers shall have the right not be required to contestpay any such tax, assessment, charge, levy or claim due to or by any state, municipality or instrumentality thereof which is being contested in good faith and by appropriate proceedings, proper proceedings which serve as a matter of law to stay the amount or validity enforcement of any such Chargesremedy of the taxing authority or claimant and as to which the Borrowers shall have set aside on its books adequate reserves. The Borrowers will pay in a timely manner all obligations with respect to the Panasonic Debt and all material lease obligations, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to trade debt and purchase money obligations, other than any such Charges; (b) such contest stays the enforcement lease obligations, trade debt and purchase money obligations which either Borrower is contesting in good faith, with adequate reserves having been established, under circumstances in which no material asset or collection interest of the Charges Borrowers could be jeopardized. The Borrowers will fully, faithfully and punctually perform and fulfill all material covenants and agreements under the Panasonic Debt and any leases of real estate, agreements relating to purchase money debt, equipment leases and other material contracts, other than any such covenants and agreements which the relevant Borrower is contesting in good faith, with adequate reserves having been established, under circumstances in which no material asset or any lien created; and (c) if the amount interest of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbranceBorrowers could be jeopardized.

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property (collectively, "ChargesCHARGES"). Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such Charges, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to any such Charges; (b) such contest stays the enforcement or collection of the Charges or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property (collectively, "Charges"). Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such Charges, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to any such Charges; (b) such contest stays the enforcement or collection of the Charges or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

Taxes and Other Obligations. Each Borrower shall pay, when due, will pay and before any interest, collection fees or penalties shall accrue, discharge (and will cause each of its Subsidiaries to pay and discharge) all taxes, assessmentsassessments and governmental charges or levies imposed upon it or them, finesor upon its or their income or profits, impositions or upon any properties belonging to it or them, prior to the date on which penalties or interest would attach thereto, and other charges and obligationsall lawful claims which, which may if unpaid, might become a lien on or charge against the Property (collectivelyupon any properties of any Borrower or any Subsidiary of any Borrower; provided that neither any Borrower nor any such Subsidiary shall be required to pay any such tax, "Charges"). Borrower shall have the right to contestassessment, charge, levy or claim which is being contested in good faith and by appropriate proceedings, proper proceedings which serve as a matter of law to stay the amount or validity enforcement of any such Chargesremedy of the taxing authority or claimant and as to which the relevant Borrower or the Subsidiary concerned, so long as: as the case may be, shall have set aside on its books adequate reserves. Each Borrower will pay (aand will cause each of its Subsidiaries to pay) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to in a timely manner all material lease obligations, trade debt and purchase money obligations, other than any such Charges; lease obligations, trade debt and purchase money obligations which the relevant Borrower or the relevant Subsidiary (bas the case may be) is contesting in good faith, with adequate reserves having been established, under circumstances in which no material asset or interest of such contest stays the enforcement Borrower or collection such Subsidiary could be jeopardized. Each Borrower will fully, faithfully and punctually perform and fulfill (and will cause each of the Charges or its Subsidiaries fully, faithfully and punctually to perform and fulfill) all material covenants and agreements under any lien created; leases of real estate, agreements relating to purchase money debt, equipment leases and (c) if the amount of the Charges exceeds $25,000.00other material contracts, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over other than any such liencovenants and agreements which the relevant Borrower or the relevant Subsidiary (as the case may be) is contesting in good faith, with adequate reserves having been established, under circumstances in which no material asset or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount interest of such Charges. Should Borrower fail to make any of or such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbranceSubsidiary could be jeopardized.

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property (collectively, "ChargesCHARGES"). Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such Charges, so long as: (a) Borrower has given prior written notice to Lender Agent of Borrower's intent to so contest or object to any such Charges; (b) such contest stays the enforcement or collection of the Charges or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to LenderAgent, to the loan policy of title insurance issued to Lender Agent for the benefit of Lenders insuring over any such lien, or Borrower has deposited with Lender Agent a bond or other security reasonably satisfactory to Lender Agent in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender Agent may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of LenderAgent, Borrower shall immediately furnish to Lender Agent copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender Agent of any lien (other than liens permitted under the Loan Agreement) on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property (collectively, "Charges"). Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such Charges, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to any such Charges; (b) such contest stays the enforcement or collection of the Charges or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form 6 and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrower. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

Taxes and Other Obligations. Borrower shall pay, when due, and before any interest, collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other charges and obligations, which may become a lien on or charge against the Property Collateral (collectively, "ChargesIMPOSITIONS"). ; provided, however, that Borrower shall have the right to contest, in good faith by appropriate proceedings, the amount or validity of any such ChargesImpositions, so long as: (a) Borrower has given prior written notice to Lender of Borrower's intent to so contest or object to any such ChargesImpositions; (b) such contest stays the enforcement or collection of the Charges Impositions or any lien created; and (c) if the amount of the Charges exceeds $25,000.00, Borrower has obtained an endorsement, in form and substance satisfactory to Lender, to the loan policy of title insurance issued to Lender insuring over posted any such lien, or Borrower has deposited with Lender a bond or other security reasonably satisfactory to Lender in the amount of 150% of the amount of such Charges. Should Borrower fail to make any of such payments, Lender may, at its option and at the expense of Borrower, pay the amounts due for the account of Borrowerrequired therefor. Upon the request of Lender, Borrower shall immediately furnish to Lender copies of all notices of amounts due and receipts evidencing payment. Borrower shall promptly notify Lender of any lien on all or any part of the Property Collateral and shall promptly discharge any unpermitted lien Lien or encumbrance.