Common use of Change in Taxes Clause in Contracts

Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State of Ohio or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness or the interest of Mortgagee in the Mortgaged Premises, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the passage after the date of this Mortgage of any law in the State of Ohio deducting from the value of real property for purposes of taxation any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage shall have the right to declare the entire unpaid amount of the Mortgage Indebtedness, together with accrued and unpaid interest thereon, to be due and payable on a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if Mortgagor is permitted by law to pay the whole of such tax in addition to all other payments required thereunder and if Mortgagor, prior to such specified date, makes payment of such tax then due and agrees to pay any such tax when thereafter levied or assessed against the Mortgaged Premises, this Mortgage, the Notes or any of the other Loan Documents.

Change in Taxes. In the event that, by reason of changes in law or in the application or interpretation thereof, any tax (other than general income taxes and similar taxes based on income) shall be due or become due and payable to the United States of America, the State Commonwealth of Ohio Massachusetts or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness Loan Document or the interest of Mortgagee in the Mortgaged PremisesSecurity, Mortgagor shall, subject to Mortgagor's contest rights set forth in Section 4 above, which shall be applicable hereto, mutatis mutandis, pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In Notwithstanding the foregoing, in the event of the passage after the date of this Mortgage of any law that such tax shall be due or become due and payable as aforesaid in the State of Ohio deducting from the value of real property for purposes of taxation any lien thereonan amount greater than $150,000 and if Mortgagee shall require Mortgagor to make payment thereof or to indemnify Mortgagee as aforesaid, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage Mortgagor shall have the right to declare prepay the entire unpaid amount of the Mortgage IndebtednessIndebtedness in full, together with accrued and unpaid interest thereon, to be due and payable on without paying a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if prepayment fee. If Mortgagor is not permitted by law to pay make such payments, the whole Indebtedness shall, at the option of such tax in addition to all other payments required thereunder and if MortgagorMortgagee, prior to such specified date, makes payment of such tax then become due and agrees payable upon one hundred eighty (180) days notice without Mortgagor being obligated to pay any a prepayment fee. Notwithstanding the foregoing, Mortgagee shall not require Mortgagor to pay such tax when thereafter levied taxes or assessed against to indemnify Mortgagee as aforesaid, nor will Mortgagee exercise its option to accelerate the Mortgaged PremisesIndebtedness pursuant to the preceding sentence, this Mortgageunless it is the policy of Mortgagee to enforce such rights generally (meaning that, over the Notes or any course of the other Loan Documentsnumerous transactions, Mortgagee would more often than not elect to enforce such rights) in connection with similar commercial mortgage loans held by Mortgagee.

Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State of Ohio Indiana or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness or the interest of Mortgagee in the Mortgaged Premises, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the passage after the date of this Mortgage of any law in the State of Ohio Indiana deducting from the value of real property for purposes of taxation any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage shall have the right to declare the entire unpaid amount of the Mortgage Indebtedness, together with accrued and unpaid interest thereon, to be due and payable on a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if Mortgagor is permitted by law to pay the whole of such tax in addition to all other payments required thereunder and if Mortgagor, prior to such specified date, makes payment of such tax then due and agrees to pay any such tax when thereafter levied or assessed against the Mortgaged Premises, this Mortgage, the Notes or any of the other Loan Documents.

Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State of Ohio Michigan or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness or the interest of Mortgagee in the Mortgaged Premises, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the passage after the date of this Mortgage of any law in the State of Ohio Michigan deducting from the value of real property for purposes of taxation any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage shall have the right to declare the entire unpaid amount of the Mortgage Indebtedness, together with accrued and unpaid interest thereon, to be due and payable on a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if Mortgagor is permitted by law to pay the whole of such tax in addition to all other payments required thereunder and if Mortgagor, prior to such specified date, makes payment of such tax then due and agrees to pay any such tax when thereafter levied or assessed against the Mortgaged Premises, this Mortgage, the Notes or any of the other Loan Documents.

Change in Taxes. In the event any tax shall be due or become due and payable to the United States of America, the State Commonwealth of Ohio Pennsylvania or any political subdivision thereof with respect to the execution and delivery or recordation of this Mortgage or any note or other instrument or agreement evidencing or securing repayment of the Mortgage Indebtedness or the interest of Mortgagee in the Mortgaged Premises, Mortgagor shall pay such tax at the time and in the manner required by applicable law and Mortgagor shall hold Mortgagee harmless and shall indemnify Mortgagee against any liability of any nature whatsoever as a result of the imposition of any such tax. In the event of the passage after the date of this Mortgage of any law in the State Commonwealth of Ohio Pennsylvania deducting from the value of real property for purposes of taxation any lien thereon, or changing in any way the laws now in force for the taxation of mortgages or debts secured thereby (including the interest thereon) for state or local purposes, or changing the manner of collection of any such taxes, and imposing a tax, either directly or indirectly, on this Mortgage, the Notes or any of the other Loan Documents, the holder of this Mortgage shall have the right to declare the entire unpaid amount of the Mortgage Indebtedness, together with accrued and unpaid interest thereon, to be due and payable on a date to be specified by not less than 30 days' written notice to Mortgagor, provided, however, that such election shall not be effective if Mortgagor is permitted by law to pay the whole of such tax in addition to all other payments required thereunder and if Mortgagor, prior to such specified date, makes payment of such tax then due and agrees to pay any such tax when thereafter levied or assessed against the Mortgaged Premises, this Mortgage, the Notes or any of the other Loan Documents.. OPEN-END MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS