TAXES; OPERATING EXPENSES. (a) Subject to the provisions of Section 15(c) and Section 15(d), Borrower shall pay, or cause to be paid, all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment.
(b) Subject to the provisions of Section 15(c), Borrower shall (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, repairs and replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay insurance premiums at least 30 days prior to the expiration date of each policy of insurance, unless applicable law specifies some lesser period.
(c) If Lender is collecting Imposition Deposits, to the extent that Lender holds sufficient Imposition Deposits for the purpose of paying a specific Imposition, then Borrower shall not be obligated to pay such Imposition, so long as no Event of Default exists and Borrower has timely delivered to Lender any bills or premium notices that it has received. If an Event of Default exists, Lender may exercise any rights Lender may have with respect to Imposition Deposits without regard to whether Impositions are then due and payable. Lender shall have no liability to Borrower for failing to pay any Impositions to the extent that (i) any Event of Default has occurred and is continuing, (ii) insufficient Imposition Deposits are held by Lender at the time an Imposition becomes due and payable or (iii) Borrower has failed to provide Lender with bills and premium notices as provided above.
(d) Borrower, at its own expense, may contest by appropriate legal proceedings, conducted diligently and in good faith, the amount or validity of any Imposition other than insurance premiums, if (i) Borrower notifies Lender of the commencement or expected commencement of such proceedings, (ii) the Mortgaged Property is not in danger of being sold or forfeited, (iii) if Borrower has not already paid the Imposition, Borrower deposits with Lender reserves sufficient to pay the contested Imposition, if requested by Lender, and (iv) Borrower furnishes whatever additional security is required in the proceedings or is reasonably requested by Lender.
(e) Borrower shall promptly deliver to Lender a copy of all notices of, and invoices for, Impositions, and if Borrower pays any Imposition directly, Borrower shall furnish to Lender on or before the date this Instrument requires such Impositions to be paid, receipts evidenci...
TAXES; OPERATING EXPENSES. (a) Subject to the provisions of Section 15(c) and Section 15(d), Borrower shall pay, or cause to be paid, all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment.
TAXES; OPERATING EXPENSES.
(a) Guarantor shall pay, or cause to be paid, all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment.
TAXES; OPERATING EXPENSES. (a) Subject to the provisions of Section 14(c), Borrower shall pay, or cause to be paid, all Taxes when due and before the addition of any interest, fine, penalty or cost for nonpayment.
(b) Subject to the provisions of Section 14(c), Borrower shall pay the expenses of operating, managing, maintaining and repairing the MRLF Mortgaged Property (including insurance premiums, utilities, repairs and replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added.
(c) Borrower, at its own expense, may contest by appropriate legal proceedings, conducted diligently and in good faith, the amount or validity of any Imposition other than insurance premiums, if (1) Borrower notifies Lender of the commencement or expected commencement of such proceedings, (2) the MRLF Mortgaged Property is not in danger of being sold or forfeited, (3) Borrower deposits reserves sufficient to pay the contested Imposition, if requested by Lender, and (4) Borrower furnishes whatever additional security is required in the proceedings or is reasonably requested by Lender, which may include the delivery to Lender of the reserves established by Borrower to pay the contested Imposition.
(d) Borrower shall promptly deliver to Lender a copy of all notices of, and invoices for, Impositions, and if Borrower pays any Imposition directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
TAXES; OPERATING EXPENSES. Estimated Cost of Electrical Services.
TAXES; OPERATING EXPENSES. 38 20. ELECTRICITY.........................................................48 21. BROKER..............................................................53 22. SUBORDINATION.......................................................53 23.
TAXES; OPERATING EXPENSES. 33 20. Electricity . . . . . . . . . . . . . . . . . . . . . . . 39 21. Broker . . . . . . . . . . . . . . . . . . . . . . . . . . 43 22. Subordination. . . . . . . . . . . . . . . . . . . . . . .
TAXES; OPERATING EXPENSES. Section 19.01. In addition to the Fixed Rent and additional rent hereinbefore reserved, Tenant covenants and agrees to pay Landlord, as additional rent, all amounts computed in accordance with the provisions set forth in this Article 19.
TAXES; OPERATING EXPENSES. 9 - Section 8.1 Taxes..............................................................................................................................- 9 - Section 8.2 Operating Expenses. ....................................................................................................- 10 - Section 8.3 Contest. ........................................................................................................................- 10 - Section 8.4 Utilities. .......................................................................................................................- 10 - ARTICLE 9 - INSURANCE; INDEMNIFICATION . - 10 - Section 9.1 Tenant’s Insurance.......................................................................................................- 10 - Section 9.2 Indemnification............................................................................................................- 12 - ARTICLE 10 - USE OF PROJECT, COMPLIANCE WITH LAWS .............................................. - 12 - Section 10.1 Permitted Use. .............................................................................................................- 12 - Section 10.2 Compliance with Laws. ...............................................................................................- 12 -
TAXES; OPERATING EXPENSES. A. Master Franchisor shall be responsible for and shall pay when due any and all federal, state and local income, payroll, sales, use, excise, GST (value added) or other taxes arising out of or assessed in connection with the development of the Territory or operation of the franchises contemplated hereunder, the transactions contemplated herein, the sale of any assets referred to hereunder, the assignment of any franchise, withholding or GST taxes which are due on account of the payments to the Company, or the sale or supply of any goods or services by the Company to the Master Franchisor (except income taxes assessed against the Company). Nothing herein shall require Master Franchisor to pay for any taxes required to be paid by any Sub-Franchisee which arise out of or in connection with the operation of their Sub-Franchisee Centers nor shall Master Franchisor be required to pay any income taxes which are owed by the Company. Master Franchisor may contest the validity or amount of any such tax in good faith and in accordance with the procedures specified by the relevant taxing authority; provided, however, that in no event shall Master Franchisor permit a tax sale or seizure by levy or execution or similar writ or warrant to occur with respect to any franchised location or any equipment, furniture, fixtures or improvements contained therein.
B. Master Franchisor shall notify the Company in writing within five (5) business days of the commencement of any action, suit, or proceeding and of the issuance of any order, writ, injunction, award or decree of any court, agency or other governmental instrumentality which may affect the operation or financial condition of Master Franchisor.
