Common use of Taxes, Liens and Other Charges Clause in Contracts

Taxes, Liens and Other Charges. (a) In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds to secure debt or the manner of collecting taxes so as to adversely affect Banks, Obligor will promptly pay any such tax. If Obligor fails to make such prompt payment or if, in the opinion of Collateral Agent, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Obligor from making such payment or would penalize Banks if Obligor makes such payment or if, in the opinion of Collateral Agent, the making of such payment might result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire balance of the principal sum secured by this Instrument and all interest accrued thereon shall, at the option of Collateral Agent, become immediately due and payable unless Obligor shall substitute property unaffected by such tax considerations for the Property and otherwise satisfy the conditions for release of the Property set forth in Section 5.27 of the Credit Agreement.

Taxes, Liens and Other Charges. (a) In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds to secure debt or the manner of collecting taxes so as to materially adversely affect BanksLenders, Obligor Grantor will promptly pay any such tax. If Obligor Grantor fails to make such prompt payment or if, in the opinion of Collateral AgentGrantee, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Obligor Grantor from making such payment or would penalize Banks Lenders if Obligor Grantor makes such payment or if, in the opinion of Collateral AgentGrantee, the making of such payment might result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire balance of the principal sum secured by this Instrument Security Deed and all interest accrued thereon shall, at the option of Collateral AgentGrantee, become immediately due and payable unless Obligor unless, within ninety (90) days thereafter, Grantor shall substitute property unaffected by such tax considerations for the Property and otherwise satisfy the conditions for release of the Property set forth in Section 5.27 5.5 of the Credit Agreement.