Common use of Additional Charges Clause in Contracts

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate).

Appears in 1 contract

Sources: Build to Suit Lease Agreement (Rayovac Corp)

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Borrower agrees to pay, as when due, subject to the payment of amounts due under Section 4.2 hereof, all reasonable costs and expenses incurred in connection with the issuance of the Bonds (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid from the Cost of Issuance Fund established under the Indenture) and are not paid pursuant to Section 4.2 hereof (in the aggregate, the “Additional Charges”), before including without limitation, the expenses listed in Section 3.4 hereof and each and all of the following: (a) all reasonable fees of the Trustee, the Issuer (including the Issuer Administration Fee), and any fineHolder for services rendered pursuant to the terms of the Indenture, penaltyany amounts due under Section 7.3 hereof (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid pursuant to Section 4.2 hereof) and all reasonable fees and reasonable charges of any registrars, interest legal counsel, accountants, engineers, public agencies, and others actually and reasonably incurred in the performance of services reasonably required pursuant to the terms and conditions of the Indenture for which such Persons are actually entitled to payment or cost may be added thereto for reimbursement, any reasonable fees or charges of public agencies, and any reasonable fees or expenses actually incurred and resulting directly from the nonpayment thereof, occurrence and continuance of an Event of Default by the Borrower hereunder; (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu of Taxes or Economic Activity Taxes, be made to the Issuer and any Holder under Section 7.3 hereof; (ii) special assessments, all reasonable expenses (including reasonable legal fees) incurred by the Issuer or the Trustee to exercise their rights under this Agreement following an Event of Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Project which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, Borrower under the terms of this Agreement or any portion thereofseparate fee agreement, which are due and payable during including costs incurred as a result of a request by the Term Borrower; (regardless of c) amounts advanced by the period Trustee pursuant to which such taxes relate).the Indenture; (d) interest, at the Default Rate, on all payments not made by the Borrower under

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject Borrower agrees to pay each and all of the following (collectively, the “Additional Charges”): (a) upon the occurrence of a default under the Indenture or a Default under this Loan Agreement, and upon expiration of all notice and cure periods, to or upon the order of the Issuer or the Bondowner Representative, when due, all reasonable fees of the Issuer or the Bondowner Representative for services rendered under the Indenture and any other amounts due under Section 11.2 hereof which are not included in Ordinary Fees and Expenses, and all reasonable fees and charges of any registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance, on request of the Issuer, of services required under the Indenture or this Loan Agreement for which such persons are entitled to payment or reimbursement, provided that Borrower may, upon notice to the termsIssuer and without creating a Default hereunder, provisions contest in good faith the necessity or reasonableness of any such services, fees or expenses other than Ordinary Fees and conditions of this Section 4.1Expenses, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for but the nonpayment thereof, Issuer’s final decision shall control; (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu be made under this Loan Agreement and the Regulatory Agreement (such indemnity payments being due to the Issuer or Indemnified Party upon written demand therefor and accruing interest at the Default Rate 60 days after notice of Taxes or Economic Activity Taxes, demand therefor); (ii) special assessments, all reasonable expenses (including reasonable legal fees and expenses) incurred by the Issuer in exercising its rights under this Loan Agreement following a Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems Project or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Bonds which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon Borrower under the Demised Premises, terms of this Loan Agreement or any portion thereofseparate fee agreement, which are due including costs incurred as a result of a request by Borrower; and (c) interest, at the Default Rate, on all payments not made by Borrower under Section 3.3, this Section 3.4 and payable during Section 3.8 when due, to the Term (regardless of the period to which such taxes relate)parties entitled thereto.

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject The City agrees to pay as additional charges, when due, each and all of the following: (a) all Issuance Expenses to the termsextent not paid from the proceeds of the Series 2022 Bonds; (b) to or upon the order of the Trustee, provisions upon demand, all fees of the Trustee for services rendered under the Indenture and conditions all fees and charges of this Section 4.1the paying agent, Tenant covenants registrars, legal counsel, accountants, public agencies and agrees others incurred in the performance on request of the Trustee of services required under the Indenture for which the Trustee and such other persons are entitled to paypayment or reimbursement; provided that after payment in full thereof the City may, as Additional Chargeswithout creating a default hereunder, before any fine, penalty, interest contest in good faith the necessity or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part reasonableness of any covenant to which title such services, fees or expenses other than the Trustee's fees for ordinary services as set forth in the Indenture, paying agency fees and any fees or charges of public agencies; (c) to the Land is subject for items such asBank and the Trustee, without limitationthe Administrative Expenses, common area maintenance of storm water detention systems or roadways servicing more than just and all other reasonable expenses incurred by the Demised Premises within or connected Bank and the Trustee in relation to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Series 2022 Bonds which are not otherwise specifically required to be maintained paid by Landlord pursuant the City under the terms of this Loan Agreement and all indemnity payments required to be made under Section 5.1 hereof, 7.3; (vid) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), any and (vii) all other charges or burdens of whatsoever kind out-of-pocket costs and nature expenses (including, without limitation, costs, the reasonable fees and expenses of complying any counsel, accountants or other professionals) incurred by the Trustee or the Bank at any time, in connection with (1) the preparation, negotiation and execution of this Loan Agreement, the Indenture, the Tax Intercept Agreement, the Note, and all other Bond Documents, any amendment of or modification of this Loan Agreement, the Indenture, the Tax Intercept Agreement, the Note or the other Bond Documents (including in connection with any restrictive covenants sale, transfer, or similar agreements attempted sale or transfer of any interest herein to which a participant or assignee); (2) any litigation, contest, dispute, suit, proceeding or action, whether instituted by the Land is subjectBank, incurred the Trustee, the City or any other person in any way relating to the useSeries 2022 Bonds, occupancy, operation, leasing the Note or possession the other Bond Documents; (3) any attempt to enforce any rights of the Demised Premises (excluding Trustee or the Bank against the City or any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect other person which may be obligated to the Demised Premises imposed Trustee and/or the Bank by virtue of this Loan Agreement, the Note, the other Bond Documents or any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, other Series 2022 Bonds related documents; and whether (4) performing any of the foregoing be general obligations relating to or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items obligations of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, City hereunder in accordance with the terms hereof or any portion thereof, which are due and payable during other Bond Documents; and (e) Reserved; and (f) All amounts owed under the Term (regardless of the period to which such taxes relate)Tax Certificate.

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject to the terms, provisions A. Borrower agrees that Lender may immediately charge Borrower's account: i. for any and conditions of this Section 4.1, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereofall bank service charges, (i) all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such as, including without limitation, common area maintenance check processing, wire and back charges), paid by Lender attributable to any advance or collection under this or any other agreement between Borrower; ii. for any and all charges to Lender related to any letter(s) of storm water detention systems credit obtained or roadways servicing more than just guaranteed by Lender; iii. for Lender's periodic audits of Borrower's books, records and assets at the Demised Premises within rate of per audit; iv. for any and all costs of recording or perfecting Lender's security interest in any property given by Borrower as security for Borrower's indebtedness; v. for any and all costs or charges attributable to appraisal or verification or monitoring of property given as a security for Borrower's indebtedness; and vi. for any and all office and other expenses and costs, including reasonable attorneys' fees, whether inside or outside counsel (including paralegal), incurred by Lender in enforcing or defending any of Lender's rights under this Agreement or in endeavoring to collect amounts assigned to Lender in any litigation or processing arising under or connected with this Agreement, the indebtedness created hereby or the security given to the Park ("PARK ASSESSMENTS")Lender/ B. Borrower shall promptly pay any and all expenses of: i. storing, (iv) water rates warehousing, insuring, handling and chargesshipping of Borrower's property; ii. any and all excise, sewer rates property, sales and chargesother taxes; iii. any and all costs of releasing or curing encumbrances or liens, including, without limitation, any sum levied or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental or taxing authority shall 24 be paid by Landlord), without particularizing by any known name on Borrower or by whatever name hereafter called, and whether on any of the foregoing Borrower's property or any property caused to be general given to Lender as security. If Borrower fails to promptly pay when due, whether to Lender or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the other person, entity, utility, municipality or other body moneys which Borrower is owed the Imposition; provided, however, that upon Landlord's request from time required to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, under this or any portion thereofof this Agreement, which are Lender may, but need not, pay the same and charge Borrower's account therefor and Borrower shall promptly reimburse Lender therefor. Lender need not inquire as to, or contest the validity of any such expense, tax, security interest, encumbrance or lien, and the receipt of the usual official claim for the payment thereof shall be conclusive evidence that the same was validly due and payable during the Term (regardless of the period to which such taxes relate)owing.

Appears in 1 contract

Sources: Loan and Security Agreement (Worldwide Medical Corp/Ca/)

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Company agrees to paypay as additional rent, as Additional Chargeswhen due, before any fine, penalty, interest or cost may be added thereto for each and all of the nonpayment thereof, following: (i1) all real estate taxesIssuance Expenses of the Bonds not paid or reimbursed from the issuance Expense Account; (2) to or upon the order of the Trustee, includingwhen due, but no limited all fees of the Trustee for services rendered under the Indenture and all fees and charges of the Paying Agent, registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance on request of the Trustee of services required under the Indenture for which the Trustee and such other persons are entitled to so-called Payment payment or reimbursement; provided that the Company may, without creating a default hereunder, contest in Lieu of Taxes good faith the necessity or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part reasonableness of any covenant to which title to such services, fees or expenses other than the Land is subject Trustee’s fees for items such asordinary services as set forth in the Indenture, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates Paying Agency fees and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges of public agencies; (except those relating 3) to the construction of County, all expenses including reasonable attorney’s fees directly incurred by the Improvements)County to perform its obligations or exercise its rights under this Lease, and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and reasonable expenses of complying with any restrictive covenants or similar agreements to which incurred by the Land is subject, incurred County in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect relation to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, Project which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are not otherwise required to be paid by Tenant the Company under the terms of this Lease and all indemnity payments required to Landlord be made under Section 7.4; (as opposed 4) subject to being paid the provisions of Section 5.4 hereof, to the County Treasurer of Otter Tail County, and to any other governmental official authorized by Tenant law to a third party)collect taxes levied on the Land or Plant or the privilege of using the same, then the full amount of all such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premisesif any, or any portion thereof, which are when due and payable during the Term of this Lease; and (regardless 5) subject to the provisions of Section 5.4 hereof, to each public or private person, firm or corporation furnishing utility service or constructing or extending facilities for the period to which furnishing of such taxes relate)service for the Project, when due and payable during the Term of this Lease, all fees, charges and rentals for such service and facilities.

Appears in 1 contract

Sources: Lease Agreement (Otter Tail Ag Enterprises, LLC)

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Borrower agrees to pay, as Additional Chargeswhen due, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, (i) each and all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements)following: (1) to or upon the order of the Trustee, and (vii) when due, all other charges or burdens of whatsoever kind and nature (including, without limitationreasonable fees, costs, fees expenses, and expenses charges of complying with the Trustee for services rendered under the Subordinate Indenture, including any restrictive covenants or similar agreements to which extraordinary services, including its Ordinary Trustee Fees and Expenses and Extraordinary Trustee Fees and Expenses and all reasonable fees, costs, expenses, and charges of the Land is subjectPaying Agent, registrars, legal counsel, accountants, engineers, public agencies and others incurred in the use, occupancy, operation, leasing or possession performance on request of the Demised Premises Trustee of services required under the Subordinate Indenture for which the Trustee and such other Persons are entitled to payment or reimbursement, provided that the Borrower may, without creating a default hereunder, contest in good faith the necessity or reasonableness of any such services, fees, costs, expenses, or charges; (excluding 2) to the Issuer, the Issuer Fee and any income taxes other Issuer Fees and Expenses (including Issuer Late Fees, if any); (3) to the Trustee, the amount of all advances made by the Trustee, if any, with interest thereon, as provided in Section 5.4 hereof; (4) to the Issuer or Trustee, as the case may be, interest at the rate equal to one percent (1%) over the prime rate on each payment commencing on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable date when due and required in respect this Section to be made to the Demised Premises imposed Issuer or Trustee, if not made when due and if not advanced by the Trustee under the Subordinate Indenture; (5) any governmental authority shall 24 be paid costs incurred by Landlord)the Trustee or the Issuer in the preparation of printed bonds; (6) to the Rebate Analyst, without particularizing by any known name or by whatever name hereafter calledthe Rebate Analyst’s fees, costs, and whether expenses; and (7) payments for the Issuer’s Unassigned Rights and any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are indemnity payments required to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or Borrower under any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate)Subordinate Loan Documents.

Appears in 1 contract

Sources: Subordinate Loan Agreement

Additional Charges. Subject Borrower agrees to pay each and all of the following (collectively, the “Additional Charges”): (a) upon the occurrence of a default under the Indenture or a Default under this Loan Agreement, to or upon the order of the Issuer or the Bondowner Representative, when due, all reasonable fees of the Issuer or the Bondowner Representative for services rendered under the Indenture and any other amounts due under Section 11.2 hereof which are not included in Ordinary Fees and Expenses, and all reasonable fees and charges of any registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance, on request of the Issuer, of services required under the Indenture or this Loan Agreement for which such persons are entitled to payment or reimbursement, provided that Borrower may, upon notice to the termsIssuer and without creating a Default hereunder, provisions contest in good faith the necessity or reasonableness of any such services, fees or expenses other than Ordinary Fees and conditions of this Section 4.1Expenses, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for but the nonpayment thereof, Issuer’s final decision shall control; (b) (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu be made under this Loan Agreement and the Regulatory Agreement (such indemnity payments being due to the Issuer or Indemnified Party upon written demand therefor and accruing interest at the Default Rate 60 days after notice of Taxes or Economic Activity Taxes, demand therefor); (ii) special assessments, all reasonable expenses (including reasonable legal fees and expenses) incurred by the Issuer in exercising its rights under this Loan Agreement following a Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems Project or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Bonds which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon Borrower under the Demised Premises, terms of this Loan Agreement or any portion thereofseparate fee agreement, which are due including costs incurred as a result of a request by Borrower; and (c) interest, at the Default Rate, on all payments not made by Borrower under Section 3.3, this Section 3.4 and payable during Section 3.8 when due, to the Term (regardless of the period to which such taxes relate)parties entitled thereto.

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject (a) In addition to all other rental charges provided for in this lease, the terms, provisions and conditions of this Section 4.1, Tenant covenants and agrees to pay, pay as "Additional Charges, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, Rental," its proportionate share of: (i) all real estate taxesreasonable insurance premium costs, incurred by Landlord in connection with its obtaining and maintaining of fire, extended coverage and all risk insurance; rental insurance sufficient to include both Base Rent and Additional Rental; sprinkler damage insurance; and public liability insurance, all of which insurance coverage, if maintained, shall be in such amounts and with such companies as Landlord may deem reasonable or proper; (ii) all reasonable costs and expenses reasonably incurred by Landlord in connection with the Landlord's maintenance and repair of the entire premises of which the Premises are a part, in accordance with the provisions of this lease, including, but no not limited to so-called Payment in Lieu of Taxes or Economic Activity Taxesto, (ii) special assessmentsthe building grounds, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such asparking area, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) as well as all other charges or burdens of whatsoever kind and nature (including, without limitation, reasonable costs, fees and expenses incurred by the Landlord in performing its obligations hereunder, subject to the exclusions set forth below; and (iii) management fees for the operation of complying the Building, at an annual sum equal to four (4%) percent of the Modified Annual Base Rent. The Modified Annual Base Rent for a year is equal to the Annual Base Rent for such year less $90,470.58. The following items are not to be included in the calculation of Additional Rental payable by Tenant on account of operating expenses pursuant to this Paragraph 20: (1) wages, salaries, fees, and fringe benefits paid to administrative or executive personnel above the grade of manager and officers and/or partners of Landlord; (2) any charge for depreciation of the Building or equipment or any interest or other financing charge; (3) all costs relating to activities for the marketing and execution of leases, sublease, assignments and sales of other space in the Building; (4) the cost of electric current and other utilities furnished to any other leasable area in the Building; (5) the cost of: (i) repairs, alterations, additions, and improvements, to the extent required by the lease to be performed by Landlord at its cost and expense, and (ii) correcting defects in the original construction of the Building; (6) the cost of any alterations, additions, changes, replacements or other items which under generally accepted accounting principles are classified as capital expenditures (including amortization and depreciation of any type); provided that the cost of capital expenditures which are (i) made for the primary purpose of reducing operating costs, but only to the extent that such expenditures do actually reduce operating costs, or (ii) which may be required by governmental authority under any law or regulation first enacted after the Commencement Date shall be included in operating expenses, amortized over the expected useful life of such improvement as reasonably determined by Landlord, together with interest on the unamortized balance at the Prime Rate; (7) Rental for items which, if purchased, would constitute a capital improvement or equipment. (8) interest, fines, penalties or late payment charges incurred as a result of Landlord's violation of the law or failure to pay Taxes or operating expenses in a timely fashion; (9) expenses related to Landlord's general corporate overhead and management office; (10) reserves of any restrictive covenants kind, including, but not limited to, replacement reserves, and reserves for bad debts or lost rent or any similar agreements charge not involving the payment of money to which third parties; (11) fees and expenses for attorneys, with respect to eviction proceedings or any other cause of action against any other tenants in the Land is subjectBuilding; (12) costs, including permit, license and inspection costs, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in with respect to the Demised Premises imposed by installation of any governmental authority shall 24 be paid by Landlord)other tenants' or occupants' improvements made for other tenants or occupants in the Building or incurred in renovating or otherwise improving, without particularizing by any known name decorating, painting, or by whatever name hereafter called, and whether any redecorating space for other tenants or occupants of the foregoing Building; (13) any items otherwise reimbursed (or required to be general reimbursed) under another tenant's lease other than as part of such tenant's share of operating expenses; (14) all costs related to Landlord's financing or specialrefinancing in whole or in part of the Building (e.g., ordinary points, closing fees, attorneys' fees, environmental investigations); (15) costs arising from (i) Landlord's charitable and political contributions and association dues and expenses and (ii) costs for sculpture, paintings, or extraordinaryother objects of art or the insuring, foreseen repair, or unforeseenmaintenance thereof; (16) costs incurred by Landlord due to any violation of the terms and conditions of any lease of space, occupancy agreement or other agreement with respect to the Building; (17) costs which Landlord is obligated to pay to Tenant pursuant to this lease or otherwise; (18) the cost of any parties, ceremonies, or other events for tenants or third parties which are not tenants of the Building, whether conduced in the Building, or in any other location; (19) the cost of any labor, service, materials, supplies, or equipment, which is not comparable to the prevailing market rate for such labor, service, materials, supplies, or equipment at any the time during in comparable buildings; (20) the Term may entertainment expenses and travel expenses of Landlord, its employees, agents, partners, or affiliates; and (21) costs, repairs and maintenance for items to the extent covered, or required to be payable covered, by insurance proceeds, guarantees or service contracts or which are otherwise reimbursed (collectively, "IMPOSITIONS"). or required to be reimbursed) to Landlord. (b) It is acknowledged that the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of total annual Additional Charges paid to third parties. If any Additional Charges are Rental to be paid by the Tenant pursuant to Landlord the provisions of Paragraph 19 and 20 of this lease cannot be determined except on an annual basis. It is therefore agreed that, in addition to the payments of Additional Rental as may be provided for elsewhere in this lease, the Tenant shall pay the estimated monthly sum set forth in (as opposed 10) of the Preamble on account of its Additional Rental obligations pursuant to being paid by Tenant to a third party), then such the provisions of Paragraphs 19 and 20 of this lease. Said estimated payments shall be paid in advance, on the first day of each month, and shall be based on an annual period from January l through December 31 during each year of the Term hereof and shall be subject to adjustment from time to time by Landlord upon not less than thirty (30) days prior written notice to Tenant, provided that Landlord shall not adjust its estimate of Additional Rental more than two times in any twelve month period unless due to an unusual, unanticipated increase in operating expenses. On or about April 15 of each calendar year during Tenant's occupancy and the calendar year following termination of this lease, or as soon thereafter as is practical, Landlord shall furnish to Tenant a statement in reasonable detail of the actual taxes and operating expenses for the previous year. If for any calendar year Tenant's payments on account for taxes and operating expenses exceeds Tenant's proportionate share of the actual taxes and operating expenses, Landlord shall either credit the overpayment against the next installment of Rental due from Tenant or promptly refund to Tenant the overpayment. Conversely, if the payments made by Tenant on account of the prior year's taxes and operating expenses are less than Tenant's proportionate share of the actual taxes and operating expenses, Tenant shall pay to Landlord, within thirty (30) days after receipt of such statement, as Additional Rent, the underpayment with respect to Tenant's proportionate share of the taxes and operating expenses for the prior year. (c) At Tenant's written request, Landlord shall provide reasonable back up information supporting any annual statement delivered by Landlord pursuant to subparagraph (b) above. Each statement furnished by Landlord to Tenant pursuant to subparagraph (b) shall be conclusive and binding upon Tenant subject to Tenant's right to audit same within the two (2) years after Tenant has invoiced Tenant thereforreceived such statement. Except as hereinafter provided, Tenant shall pay all the full amount of the Additional Rental shown to be due on the statement without delay, but by doing so shall not waive its audit rights nor its right to dispute the accuracy or appropriateness of any such statement or any item thereon. Tenant, or its authorized agent, shall have the right, upon reasonable advance notice and during business hours, to inspect the books and records of Landlord applicable to the determination of such annual statement for the purpose of verifying in good faith the information contained in such statement for a period of up to two (2) years after the receipt of such statement by Tenant. Landlord shall maintain at its office or the office of its managing agent full, complete and accurate books and records prepared in accordance with prudent building management practices with respect to the taxes and operating expenses included in Additional Rental, and shall retain such records with respect to each calendar year for a period not less than three (3) years following delivery of the annual statement for such year, provided, however, in the case of any dispute, Landlord shall keep such records until such dispute is completely and finally resolved. If as a result of any review by Tenant it is determined that an annual statement is in error, Landlord shall repay to Tenant any excess payment made by Tenant to Landlord within 30 days, with interest thereon at the Prime Rate from the time such payment was made to Landlord. In the event that the error caused the statement to overstate Tenant's proportionate share of taxes and operating expenses by two percent (2%) or more, Landlord shall reimburse Tenant within thirty (30) days following such determination for any overpayment of Additional Rent on account of such Operating Costs together with interest at the Overdue Interest Rate plus the reasonable costs of Tenant's audit. (d) For the first and last Lease Years of the Term hereof, the portion of Additional Rental to be paid by the Tenant, other than for real estate taxes, whether heretofore or hereinafter levied or assessed upon shall be pro rated depending on the Demised Premises, or any portion thereof, proportion which are due and payable during each such Lease Year shall bear to the Term (regardless of the aforesaid annual period to in which such taxes relate)it falls.

Appears in 1 contract

Sources: Lease Agreement (Playtex Products Inc)

Additional Charges. Subject ▇▇▇▇▇▇▇▇ agrees to pay each and all of the following (collectively, the “Additional Charges”): (a) upon the occurrence and continuance of a default under the Indenture (beyond any applicable cure period) or an Event of Default under this Agreement, to or upon the order of the Issuer or Majority Owner, when due, all reasonable fees of the Issuer, Majority Owner or the Bond Trustee for services rendered under the Indenture and any other amounts due under Section 4 and 25(k) hereof which are not included in Ordinary Fees and Expenses, and all reasonable fees and charges of any registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance, on request of the Issuer, of services required under the Indenture or this Agreement for which such persons are entitled to payment or reimbursement, provided that Borrower may, upon notice to the termsIssuer and without creating a Default hereunder, provisions contest in good faith the necessity or reasonableness of any such services, fees or expenses other than Ordinary Fees and conditions of this Section 4.1Expenses, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for but the nonpayment thereof, Issuer’s final decision shall control; (b) (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu be made under this Agreement and the Regulatory Agreement (such indemnity payments being due to the Issuer or Indemnified Party upon written demand therefor and accruing interest at the Default Rate sixty (60) days after notice of Taxes or Economic Activity Taxes, demand therefor); (ii) special assessments, all reasonable expenses (including reasonable legal fees and expenses) incurred by the Issuer in exercising its rights under this Agreement or the Regulatory Agreement following a Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems Project or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Bonds which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon Borrower under the Demised Premises, terms of this Agreement or any portion thereofseparate fee agreement, which are due including costs incurred as a result of a request by ▇▇▇▇▇▇▇▇; and (c) interest, at the Default Rate, on all payments not made by Borrower under Section 4, this Section 5(c) and payable during Section 25(k) when due, to the Term (regardless of the period to which such taxes relate)parties entitled thereto.

Appears in 1 contract

Sources: Construction and Term Loan Agreement

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Borrower agrees to pay, as when due, in immediately available funds at the Administrative Office of the Trustee, all costs and expenses incurred in connection with the Bonds (the “Additional Charges”), before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such as, including without limitation, common area maintenance each and all of storm water detention systems or roadways servicing more than just the Demised Premises within or connected following: (a) on demand, for deposit in the Rebate Fund the amount of arbitrage rebate to the Park extent of any deficiency in the Rebate Fund; ("PARK ASSESSMENTS")b) to the Trustee, on the 15th day of each month, on demand, the Ordinary Trustee Fees and the Trustee’s Extraordinary Fees and Expenses and other charges and expenses of the Trustee and the Rebate Analyst, for deposit to the Expense Fund; (c) to the Trustee, for deposit to the Expense Fund, on the 15th day of each month, (ivA) water rates all reasonable expenses (including legal fees) and chargesexpenses directly incurred by the Issuer to exercise its rights under this Loan Agreement following an Event of Default; (B) all other reasonable expenses incurred by the Issuer in relation to the Project which are not otherwise required to be paid by the Borrower under the terms of this Loan Agreement, sewer rates and chargesbut which are otherwise required to be paid under the Redevelopment Contract, including, without limitation, any sum or sums the $1,500 Annual Administrative Fee of the Authority under the Funding Agreement (as defined in the Redevelopment Contract) payable for sewer or water capacity, charges for public utilities, on each anniversary of the Issue Date during the term of the Bonds and other fees and expenses payable by the Borrower under the Funding Agreement; and (vC) insurance premiums at commercially competitive rates for that insurance all indemnity payments required to be maintained by Landlord pursuant to made under Section 5.1 hereof, 7.03 or the Redevelopment Contract; (vid) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements)Trustee, and (vii) interest on all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect payments not made to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord)Trustee or the Issuer, without particularizing by any known name or by whatever name hereafter calledrespectively, and whether any of under this Section 4.03 when due, at the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable Default Rate; and (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly e) to the personTrustee, entityon demand, utilitythe cost of printing, municipality or other body which is owed preparing and delivering any Replacement Bonds under the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate)Indenture.

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Company agrees to paypay as additional rent, as Additional Chargeswhen due, before any fine, penalty, interest or cost may be added thereto for each and all of the nonpayment thereof, following: (i1) all real estate taxesIssuance Expenses of the Bonds not paid or reimbursed from the issuance Expense Account; (2) to or upon the order of the Trustee, includingwhen due, but no limited all fees of the Trustee for services rendered under the Indenture and all fees and charges of the Paying Agent, registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance on request of the Trustee of services required under the Indenture for which the Trustee and such other persons are entitled to so-called Payment payment or reimbursement; provided that the Company may, without creating a default hereunder, contest in Lieu of Taxes good faith the necessity or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part reasonableness of any covenant to which title to such services, fees or expenses other than the Land is subject Trustee’s fees for items such asordinary services as set forth in the Indenture, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates Paying Agency fees and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges of public agencies; (except those relating 3) to the construction of City, all expenses including reasonable attorney’s fees directly incurred by the Improvements)City to perform its obligations or exercise its rights under this Bond Lease, and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and reasonable expenses of complying with any restrictive covenants or similar agreements to which incurred by the Land is subject, incurred City in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect relation to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, Project which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are not otherwise required to be paid by Tenant the Company under the terms of this Bond Lease and all indemnity payments required to Landlord be made under Section 7.4; (as opposed 4) subject to being paid the provisions of Section 5.4 hereof, to the City Treasurer of City of ▇▇▇▇▇▇▇▇▇, and to any other governmental official authorized by Tenant law to a third party)collect taxes levied on the Land or Plant or the privilege of using the same, then the full amount of all such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premisesif any, or any portion thereof, which are when due and payable during the Term of this Bond Lease; and (regardless 5) subject to the provisions of Section 5.4 hereof, to each public or private person, firm or corporation furnishing utility service or constructing or extending facilities for the period to which furnishing of such taxes relate)service for the Project, when due and payable during the Term of this Bond Lease, all fees, charges and rentals for such service and facilities.

Appears in 1 contract

Sources: Lease Agreement (Highwater Ethanol LLC)

Additional Charges. Subject Tenant and Landlord agree that the rent accruing under this Lease shall be net to Landlord and that all taxes, costs, promotional fees, common area maintenance fees, expenses and charges of every kind and nature, including attorneys’ fees incurred by Landlord in enforcing the provisions of this lease, whether or not any legal proceedings are commenced ("Additional Charges") arising in connection with or relating to the termsDemised Premises (excluding, provisions however, (1) taxes other than Real Estate Taxes for which Landlord is responsible under Section 3.05(a) and conditions of this Section 4.1, Tenant covenants and agrees to pay, as Additional Charges, before (2) any fine, penalty, payments for interest or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, including, but no limited principal under any fee mortgage relating to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular ) which may arise or become due at any time during the Lease Term, shall be paid by Tenant. Tenant hereby indemnifies, defends, protects, and special assessments with respect to saves Landlord wholly harmless from and against any common area improvements that form a part of any covenant to which title to and all Additional Charges. As used herein, the Land is subject for items such asterm “Additional Rent” shall include, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction all of the Improvements)following: (1) any and all Additional Charges for which Tenant is responsible hereunder, or which Tenant otherwise assumes or agrees to pay; (2) all interest and penalties that may accrue on such Additional Charges if Tenant fails to pay them timely within any applicable cure periods; (vii3) all other charges or burdens of whatsoever kind damages, costs and nature expenses (including, without limitation, costs, reasonable attorneys' fees and expenses of complying with any restrictive covenants other legal and court costs) which Landlord may suffer or similar agreements to which the Land is subject, incurred incur in the use, occupancy, operation, leasing or possession of the Demised Premises enforcing this Lease; and (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of 4) any and all Impositions and other items sums which may become due by reason of Additional Charges paid Tenant's default or failure to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate)comply with its obligations under this Lease.

Appears in 1 contract

Sources: Land and Building Lease (Shells Seafood Restaurants Inc)

Additional Charges. Subject Tenant and Landlord agree that the rent accruing under this Lease shall be net to Landlord and that all taxes, costs, promotional fees, common area maintenance fees, expenses and charges of every kind and nature, including attorneys' fees incurred by Landlord in enforcing the provisions of this lease, whether or not any legal proceedings are commenced ("Additional Charges") arising in connection with or relating to the termsDemised Premises (excluding, provisions however, (1) taxes other than Real Estate Taxes for which Landlord is responsible under Section 3.05(a) and conditions of this Section 4.1, Tenant covenants and agrees to pay, as Additional Charges, before (2) any fine, penalty, payments for interest or cost may be added thereto for the nonpayment thereof, (i) all real estate taxes, including, but no limited principal under any fee mortgage relating to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular ) which may arise or become due at any time during the Lease Term, shall be paid by Tenant. Tenant hereby indemnifies, defends, protects, and special assessments with respect to saves Landlord wholly harmless from and against any common area improvements that form a part of any covenant to which title to and all Additional Charges. As used herein, the Land is subject for items such asterm "Additional Rent" shall include, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction all of the Improvements)following: (1) any and all Additional Charges for which Tenant is responsible hereunder, or which Tenant otherwise assumes or agrees to pay; (2) all interest and penalties that may accrue on such Additional Charges if Tenant fails to pay them timely within any applicable cure periods; (vii3) all other charges or burdens of whatsoever kind damages, costs and nature expenses (including, without limitation, costs, reasonable attorneys' fees and expenses of complying with any restrictive covenants other legal and court costs) which Landlord may suffer or similar agreements to which the Land is subject, incurred incur in the use, occupancy, operation, leasing or possession of the Demised Premises enforcing this Lease; and (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of 4) any and all Impositions and other items sums which may become due by reason of Additional Charges paid Tenant's default or failure to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate)comply with its obligations under this Lease.

Appears in 1 contract

Sources: Land and Building Lease (Shells Seafood Restaurants Inc)

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and The Borrower agrees to pay, as when due, subject to the payment of amounts due under Section 4.2 hereof, all reasonable costs and expenses incurred in connection with the issuance of the Bonds (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid from the Cost of Issuance Fund established under the Indenture) and are not paid pursuant to Section 4.2 hereof (in the aggregate, the “Additional Charges”), before including without limitation, the expenses listed in Section 3.4 hereof and each and all of the following:‌ (a) all reasonable fees of the Trustee, the Issuer (including the Issuer Administration Fee), and any fineHolder for services rendered pursuant to the terms of the Indenture, penaltyany amounts due under Section 7.3 hereof (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid pursuant to Section 4.2 hereof) and all reasonable fees and reasonable charges of any registrars, interest legal counsel, accountants, engineers, public agencies, and others actually and reasonably incurred in the performance of services reasonably required pursuant to the terms and conditions of the Indenture for which such Persons are actually entitled to payment or cost may be added thereto for reimbursement, any reasonable fees or charges of public agencies, and any reasonable fees or expenses actually incurred and resulting directly from the nonpayment thereof, occurrence and continuance of an Event of Default by the Borrower hereunder; (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu of Taxes or Economic Activity Taxes, be made to the Issuer and any Holder under Section 7.3 hereof; (ii) special assessments, all reasonable expenses (including reasonable legal fees) incurred by the Issuer or the Trustee to exercise their rights under this Agreement following an Event of Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Project which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant the Borrower under the terms of this Agreement or any separate fee agreement, including costs incurred as a result of a request by the Borrower; (c) amounts advanced by the Trustee pursuant to Landlord the Indenture; (as opposed d) interest, at the Default Rate, on all payments not made by the Borrower under Section 4.2 hereof and under this Section 4.3 when due, to being the parties entitled thereto; and (e) If any payment required under this Agreement is not paid by Tenant within ten (10) Business Days after such payment is due, then, at the option of the Bondholder Representative, the Borrower shall pay a late charge equal to a third party)three percent (3.0%) of the amount of such payment to compensate the Bondholder Representative for administrative expenses and other costs of delinquent payments. This late charge may be assessed without notice, then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are immediately due and payable during and shall be in addition to all other rights and remedies available to the Term (regardless Bondholder Representative including any interest due as a result of interest then accruing on the period to which such taxes relate)Bonds Outstanding at the Default Rate, if applicable.

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject ▇▇▇▇▇▇▇▇ agrees to pay each and all of the following (collectively, the “Additional Charges”): (a) upon the occurrence of a default under the Indenture or a Default under this Loan Agreement, and upon expiration of all notice and cure periods, to or upon the order of the Issuer or the Bondowner Representative, when due, all reasonable fees of the Issuer or the Bondowner Representative for services rendered under the Indenture and any other amounts due under Section 11.2 hereof which are not included in Ordinary Fees and Expenses, and all reasonable fees and charges of any registrars, legal counsel, accountants, engineers, public agencies and others incurred in the performance, on request of the Issuer, of services required under the Indenture or this Loan Agreement for which such persons are entitled to payment or reimbursement, provided that Borrower may, upon notice to the termsIssuer and without creating a Default hereunder, provisions contest in good faith the necessity or reasonableness of any such services, fees or expenses other than Ordinary Fees and conditions of this Section 4.1Expenses, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for but the nonpayment thereof, Issuer’s final decision shall control; (b) (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu be made under this Loan Agreement and the Regulatory Agreements (such indemnity payments being due to the Issuer or Indemnified Party upon written demand therefor and accruing interest at the Default Rate 60 days after notice of Taxes or Economic Activity Taxes, demand therefor); (ii) special assessments, all reasonable expenses (iii) the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, including reasonable legal fees and expenses of complying with any restrictive covenants or similar agreements to which expenses) incurred by the Land is subject, incurred Issuer in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Impositionexercising its rights under this Loan Agreement following a Default; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless of the period to which such taxes relate).and

Appears in 1 contract

Sources: Loan Agreement

Additional Charges. Subject (a) It is the purpose and intent of Landlord and Tenant that the rent herein specified shall be absolutely “net-net-net” to Landlord, so that this Lease shall yield to Landlord, net of any and all costs and expenses of the Premises unless specifically excluded under this Section or Section 9(c), the rent specified in Paragraph 2(b) above, or, during any renewal term, the rent specified in Paragraph 6. Accordingly, Tenant agrees to assume and pay in addition to the termsrent, provisions all costs, expenses and conditions obligations of every kind and nature whatsoever relating to the Premises which may arise or become due during the initial term and any renewal term of this Lease, except municipal, state and federal income taxes assessed against Landlord to the extent specified in Paragraph 3(b) and except for the costs of Landlord’s maintenance and repair obligations pursuant to Section 4.19(c). Without limitation as to the generality of the foregoing, Tenant covenants and agrees to pay, as Additional Charges, before any fine, penalty, interest or cost may be added thereto for the nonpayment thereof, (i) shall pay when due all real estate taxes, including, but no limited to so-called Payment in Lieu of Taxes or Economic Activity Taxes, (ii) special assessments, (iii) the Demised Premises' allocable share of regular taxes and special assessments with respect to any common area improvements that form a part the Premises, all reasonable costs and fees incurred in contesting same and/or negotiating with public authorities; the amount of any covenant to which title tax or excise on rent or on any service or services furnished under this Lease, all charges for snow removal and landscaping, the cost of all insurance required hereunder, except as set forth in Section 9(c), the cost of any and all repairs, replacements and alterations, whether exterior or interior and whether structural or non-structural, pertaining to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just buildings situated on the Demised Premises within or connected (excluding only repairs to the Park ("PARK ASSESSMENTS"frame supporting the structure of the Premises and those items identified as the responsibility of the Landlord in Section 9(c)), the cost of all utility charges for gas, fuel, light, electricity, power, heat, water, sewerage and other governmental service charges which are or may be assessed or levied or become a lien upon the Premises, the cost of maintenance and janitorial services and all other operating expenses pertaining to the Premises and its use and occupancy hereunder. Tenant by these presents indemnifies and saves harmless Landlord from and against all loss, cost, damage and/or expense (ivincluding reasonable attorneys’ fees) water rates incurred as a result of Tenant’s default of its obligations hereunder. Upon the expiration of the term or of the extended term hereof, all such costs and chargesexpenses which Tenant is required to pay hereunder shall be equitably apportioned and paid to the time of such termination. (i) Tenant may contest in good faith, sewer rates and charges, including, without limitationby appropriate proceedings at its own expense, any sum real estate taxes or sums payable for sewer or water capacityassessments, charges for public utilitiesprovided that Tenant shall first have paid such item, (v) insurance premiums at commercially competitive rates for unless Landlord agrees that insurance required the payment of such item is to be maintained by Landlord pursuant to Section 5.1 hereofpostponed during the contest. Nothing herein contained, (vi) street lightinghowever, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction shall release Tenant of the Improvements)obligation and duty to pay and discharge such contested item or items as finally adjudicated, with interest and penalties, and (vii) all other charges directed to be paid in or burdens by any such adjudication. Any such contest or legal proceedings shall be begun by Tenant as soon as reasonably possible after the imposition of whatsoever kind any contested item and nature shall be prosecuted to final adjudication with all reasonable promptness and dispatch; provided, however, that Tenant may, in its discretion, consolidate any proceeding to obtain a reduction in the assessed valuation of the Premises for tax purposes relating to any tax year with any similar proceeding or proceedings relating to one or more other tax years. Anything to the contrary herein notwithstanding, Tenant shall pay all such contested items before the time when the Premises or any part thereof might be forfeited as a result of nonpayment. (b) Nothing herein contained shall require Tenant to pay any municipal, state or federal income taxes assessed against Landlord’s receipt of any rental income herein; provided, however, that if at any time during the term of this Lease or the extended term hereof, the method of taxation prevailing at the commencement of the term hereof shall be altered so as to cause the whole or any part of the taxes, assessments or impositions now or hereafter levied, assessed or imposed on real estate and the improvements thereon to be levied, assessed and imposed, wholly or partially, as a capital levy, or otherwise, on the rents received therefrom, or if any tax, assessment, levy, imposition or charge, or any part thereof, shall be measured by or based in whole or in part upon the Premises and shall be imposed upon Landlord, then in that event all such taxes, assessments, levies, impositions and/or charges so measured or based shall be deemed to be included within the term taxes for the purposes of Paragraph 3(a) next above and shall be paid and discharged by Tenant the same as herein provided in respect to the payment of real estate taxes and assessments. (c) Without limitation as to the generality of the foregoing, Tenant agrees to pay on or prior to the due date all real estate taxes and assessments with respect to the Premises and to furnish Landlord with official receipts from the appropriate taxing authority or exact copies of the same evidencing the payment thereof within forty-five (45) days after the date when any real estate tax or assessment is due. (d) Landlord shall have the right, but not the obligation, after notice to Tenant to pay, for the account of Tenant, any items not paid by Tenant hereunder when due (including, without limitation, costsreal estate taxes and assessments and insurance premiums), fees and expenses shall be entitled to reimbursement from Tenant within ten (10) business days after written notice with respect to all such payments, together with interest from the dates of complying with any restrictive covenants or similar agreements such payments to which the Land is subjectdate of actual reimbursement by Tenant, incurred in at the use, occupancy, operation, leasing or possession prime rate of interest as published by the Demised Premises (excluding any income taxes Wall Street Journal on the Base Rent imposed on Landlorddate such payment is due. Notwithstanding the imposition and/or payment of an interest charge, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its non-payment of any and all Impositions and rent or other items charges due hereunder shall continue to constitute a default of Additional Charges paid to third parties. If any Additional Charges are to be paid by this Lease. (e) Tenant to Landlord (as opposed to being paid by Tenant to a third party), then such payments shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter providedresponsible for and pay before delinquency all municipal, Tenant shall pay all real estate taxescounty, whether heretofore state or hereinafter levied or federal taxes assessed upon the Demised Premises, or any portion thereof, which are due and payable during the Term (regardless term of this Lease against any personal property of any kind owned or used by or placed in, upon or about the period to which such taxes relate)premises by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Affymetrix Inc)

Additional Charges. Subject to the terms, provisions and conditions of this Section 4.1, Tenant covenants and ‌ The Borrower agrees to pay, as when due, subject to the payment of amounts due under Section 4.2 hereof, all reasonable costs and expenses incurred in connection with the issuance of the Bonds (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid from the Cost of Issuance Fund established under the Indenture) and are not paid pursuant to Section 4.2 hereof (in the aggregate, the “Additional Charges”), before including without limitation, the expenses listed in Section 3.4 hereof and each and all of the following: (a) all reasonable fees of the Trustee, the Issuer (including the Issuer Administration Fee), and any fineHolder for services rendered pursuant to the terms of the Indenture, penaltyany amounts due under Section 7.3 hereof (but only to the extent the same are not included in Ordinary Fees and Expenses and are not paid pursuant to Section 4.2 hereof) and all reasonable fees and reasonable charges of any registrars, interest legal counsel, accountants, engineers, public agencies, and others actually and reasonably incurred in the performance of services reasonably required pursuant to the terms and conditions of the Indenture for which such Persons are actually entitled to payment or cost may be added thereto for reimbursement, any reasonable fees or charges of public agencies, and any reasonable fees or expenses actually incurred and resulting directly from the nonpayment thereof, occurrence and continuance of an Event of Default by the Borrower hereunder; (i) all real estate taxes, including, but no limited indemnity payments required to so-called Payment in Lieu of Taxes or Economic Activity Taxes, be made to the Issuer and any Holder under Section 7.3 hereof; (ii) special assessments, all reasonable expenses (including reasonable legal fees) incurred by the Issuer or the Trustee to exercise their rights under this Agreement following an Event of Default; and (iii) all other reasonable expenses incurred by the Demised Premises' allocable share of regular and special assessments with respect to any common area improvements that form a part of any covenant to which title Issuer in relation to the Land is subject for items such as, without limitation, common area maintenance of storm water detention systems or roadways servicing more than just the Demised Premises within or connected to the Park ("PARK ASSESSMENTS"), (iv) water rates and charges, sewer rates and charges, including, without limitation, any sum or sums payable for sewer or water capacity, charges for public utilities, (v) insurance premiums at commercially competitive rates for that insurance Project which are not otherwise required to be maintained by Landlord pursuant to Section 5.1 hereof, (vi) street lighting, excise levies, licenses, permits or governmental inspection fees or charges (except those relating to the construction of the Improvements), and (vii) all other charges or burdens of whatsoever kind and nature (including, without limitation, costs, fees and expenses of complying with any restrictive covenants or similar agreements to which the Land is subject, incurred in the use, occupancy, operation, leasing or possession of the Demised Premises (excluding any income taxes on the Base Rent imposed on Landlord, it being the intent of the parties hereto that any tax on the net income derived from the Base Rent payable in respect to the Demised Premises imposed by any governmental authority shall 24 be paid by Landlord), without particularizing by any known name or by whatever name hereafter called, and whether any of the foregoing be general or special, ordinary or extraordinary, foreseen or unforeseen, which at any time during the Term may be payable (collectively, "IMPOSITIONS"). It is the intention of Landlord and Tenant that Tenant will pay all Impositions directly to the person, entity, utility, municipality or other body which is owed the Imposition; provided, however, that upon Landlord's request from time to time, Tenant shall deliver receipts and other reasonable evidence of its payment of any and all Impositions and other items of Additional Charges paid to third parties. If any Additional Charges are to be paid by Tenant the Borrower under the terms of this Agreement or any separate fee agreement, including costs incurred as a result of a request by the Borrower; (c) amounts advanced by the Trustee pursuant to Landlord the Indenture; (as opposed d) interest, at the Default Rate, on all payments not made by the Borrower under Section 4.2 hereof and under this Section 4.3 when due, to being the parties entitled thereto; and (e) If any payment required under this Agreement is not paid by Tenant within ten (10) Business Days after such payment is due, then, at the option of the Bondholder Representative, the Borrower shall pay a late charge equal to three percent (3.0%) of the amount of such payment up to a third party)maximum amount of $1,500.00, then such payments or the Borrower shall pay a late charge of $25.00, whichever is greater, to compensate the Bondholder Representative for administrative expenses and other costs of delinquent payments. This late charge may be assessed without notice, shall be due thirty (30) days after Landlord has invoiced Tenant therefor. Except as hereinafter provided, Tenant shall pay all real estate taxes, whether heretofore or hereinafter levied or assessed upon the Demised Premises, or any portion thereof, which are immediately due and payable during and shall be in addition to all other rights and remedies available to the Term (regardless Bondholder Representative including any interest due as a result of interest then accruing on the period to which such taxes relate)Bonds Outstanding at the Default Rate, if applicable.

Appears in 1 contract

Sources: Loan Agreement