Common use of Changes in Tax, Debt, Credit and Documentary Stamp Laws Clause in Contracts

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 18 contracts

Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.), Loan Agreement (Safety, Income & Growth, Inc.)

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Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.

Appears in 11 contracts

Samples: Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.), Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.), Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable.

Appears in 11 contracts

Samples: Trust and Security Agreement (Corporate Property Associates 15 Inc), Mortgage and Security Agreement (Corporate Property Associates 15 Inc), Mortgage and Security Agreement (Corporate Property Associates 15 Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property any Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 10 contracts

Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 7 contracts

Samples: Loan Agreement (CNL Income Properties Inc), Loan Agreement (Gladstone Commercial Corp), Loan Agreement (Independence Realty Trust, Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 7 contracts

Samples: Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the an Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 6 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 5 contracts

Samples: Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust), Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust), Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payablepayable without premium or penalty.

Appears in 4 contracts

Samples: Mezzanine B Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine B Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine a Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (9080) days to declare the Debt immediately due and payable.

Appears in 4 contracts

Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 3 contracts

Samples: Electro Scientific Industries Inc, Trust and Security Agreement (Koger Equity Inc), Mortgage and Security Agreement (Glimcher Realty Trust)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 3 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Bon Ton Stores Inc), Loan Agreement (Bon Ton Stores Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 3 contracts

Samples: Security Agreement (Koger Equity Inc), Deed of Trust and Security Agreement, Deed of Trust and Security Agreement (Maguire Properties Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable, provided, however, that in such event no Exit Fee or other prepayment premium shall be due and payable.

Appears in 3 contracts

Samples: Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (American Realty Capital Trust III, Inc.), Loan Agreement (American Realty Capital Trust III, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days days, to declare the Debt immediately due and payable.

Appears in 3 contracts

Samples: Mortgage And (Resource Real Estate Opportunity REIT, Inc.), Credit Agreement (Cybex International Inc), Trust and Security Agreement (Innovative Micro Technology Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable.

Appears in 3 contracts

Samples: , Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.), Security Agreement (Inland Real Estate Income Trust, Inc.), Security Agreement (Inland Real Estate Income Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Fidelity National Title Agency (TNP Strategic Retail Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property any Collateral for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Mezzanine a Loan Agreement (Ashford Hospitality Trust Inc), Mezzanine B Loan Agreement (Ashford Hospitality Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a taxTAX, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the taxTAX, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax TAX by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust), Mortgage and Security Agreement (Pennsylvania Real Estate Investment Trust)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Collateral for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyCollateral, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Mezzanine a Loan Agreement (Morgans Hotel Group Co.), Mezzanine B Loan Agreement (Morgans Hotel Group Co.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the an Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable, without prepayment premium or penalty.

Appears in 2 contracts

Samples: Loan Agreement (Corporate Property Associates 15 Inc), Loan Agreement (Corporate Property Associates 16 Global Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBeneficiary’s interest in the Property, Borrower Trustor will pay the tax, with interest and penalties thereon, if any. If Lender Beneficiary is advised by counsel chosen by it that the payment of tax by Borrower Trustor would be unlawful or taxable to Lender Beneficiary or unenforceable or provide the basis for a defense of usury usury, then Lender Beneficiary shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Security Agreement (Terra Tech Corp.), Security Agreement (Terra Tech Corp.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any of the Property Project for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBank’s interest in the PropertyProject, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Bank is advised by counsel chosen by it Bank that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender Bank or unenforceable or provide the basis for a defense of usury then Lender Bank shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (City Office REIT, Inc.), Loan Agreement (City Office REIT, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Deed of Trust and Security Agreement, Deed of Trust and Security Agreement (Maguire Properties Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (MVP REIT, Inc.), Loan Agreement (MVP REIT II, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days days, to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: Trust and Security Agreement (Corporate Property Associates 15 Inc), Corporate Property Associates 15 Inc

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable. No Yield Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 5.3(a).

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Security Agreement and Fixture Filing (Moody National REIT II, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by upon written notice to Borrower of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 2 contracts

Samples: And Consolidated Mortgage and Security Agreement (Alexanders Inc), And Consolidated Mortgage and Security Agreement (Alexanders Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any, upon thirty (30) day written notice. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payablepayable without imposing any prepayment premium or charge thereon.

Appears in 2 contracts

Samples: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payablepayable without any payment of any prepayment fee or penalty; provided no Event of Default is continuing.

Appears in 1 contract

Samples: Loan Agreement (Consolidated Tomoka Land Co)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (ae) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Individual Properties for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyIndividual Properties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Term Loan Agreement (Developers Diversified Realty Corp)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable, without prepayment penalty or premium.

Appears in 1 contract

Samples: Filing and Security Agreement (Manufactured Housing Properties Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: And Security Agreement (TNP Strategic Retail Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Lightstone Value Plus Real Estate Investment Trust III, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payablepayable without any prepayment penalty or fee.

Appears in 1 contract

Samples: Loan Agreement (Consolidated Tomoka Land Co)

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Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the Confidential Treatment Requested by BANA XXXX-Xxxx-00174 option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Sothebys)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderLxxxxx’s interest in the PropertyProperties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Lxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Bxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.. 123

Appears in 1 contract

Samples: Loan Agreement (Stirling Hotels & Resorts, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital Trust III, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of any of the Property Project for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBank’s interest in the PropertyProject, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Bank is advised by counsel chosen by it Bank that the payment of tax by Borrower would be unlawful or taxable to Lender Bank or unenforceable or provide the basis for a defense of usury then Lender Bank shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (City Office REIT, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or LenderLxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Lxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Bxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Istar Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (ad) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the an Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Lease Agreement (Ashford Hospitality Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a1) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.. LOAN AGREEMENT – Page 116 41458-110/JANAF Shopping Yard (VA)

Appears in 1 contract

Samples: Loan Agreement (Wheeler Real Estate Investment Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Security Agreement (Hartman Commercial Properties Reit)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (ai) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt Loan from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on Lender’s interest in the Debt Loan or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt Obligations immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Lightstone Value Plus Real Estate Investment Trust V, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower Mortgagor will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Mortgagor would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Fixture Filing and Security Agreement (FelCor Lodging Trust Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperties, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Orion Office REIT Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred eighty (90180) days to declare the Debt immediately due and payable., provided, however, that in such event no Yield Maintenance or other prepayment premium shall be due and payable. 95

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital New York Recovery Reit Inc)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Property Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Cole Corporate Income Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the any Individual Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the any Individual Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payablepayable and no prepayment penalty or premium shall be due in connection therewith.

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s 's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust Iv, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Mortgage which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: TNP Strategic Retail Trust, Inc.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderBeneficiary’s interest in the Property, Borrower Grantor will pay the tax, with interest and penalties thereon, if any. If Lender Beneficiary is advised by counsel chosen by it that the payment of tax by Borrower Grantor would be unlawful or taxable to Lender Beneficiary or unenforceable or provide the basis for a defense of usury usury, then Lender Beneficiary shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Agreement and Fixture Filing

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderAgent’s interest in the Property, Borrower will shall pay the tax, with interest and penalties thereon, if any. If Lender Agent is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender Agent or unenforceable or provide the basis for a defense of usury usury, then Lender Agent shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Allegiant Travel CO)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Bedford Property Investors Inc/Md)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s Xxxxxx's interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Cedar Realty Trust, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement which deducts the Debt from the value of the Property Properties for the purpose of taxation and which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the PropertyProperties, Borrower Borrowers will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower Borrowers would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury then Lender shall have the option by written notice of not less than ninety (90) days to declare the Debt immediately due and payable, provided that no Yield Maintenance Premium shall be due in connection with any such payment.

Appears in 1 contract

Samples: Loan Agreement (STAG Industrial, Inc.)

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If a)If any law is enacted or adopted or amended after the date of this Agreement Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower will pay the tax, with interest and penalties thereonpenalties, if any. If Lender is advised by counsel chosen by it that the payment of tax by Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option option, exercisable by written notice of not less than ninety (90) days days, to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Security Agreement

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Agreement Deed of Trust which deducts the Debt from the value of the Property for the purpose of taxation and or which imposes a tax, either directly or indirectly, on the Debt or LenderXxxxxx’s interest in the Property, Borrower will pay the tax, with interest and penalties thereon, if any. If Lender Xxxxxx is advised by counsel chosen by it that the payment of tax by Borrower Xxxxxxxx would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury usury, then Lender shall have the option by written notice of not less than ninety one hundred twenty (90120) days to declare the Debt immediately due and payable.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)

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