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

Changes in Tax, Debt, Credit and Documentary Stamp Laws. If any law is enacted or adopted or amended after the date of this Mortgage which imposes a tax, either directly or indirectly, on the Secured Obligations or the interest of the Administrative Agent or any other Secured Party in the Property, requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor will pay the same, with interest and penalties thereon, if any. If the Administrative Agent is advised by counsel chosen by it that the payment of tax by the Mortgagor would be unlawful or taxable to the Administrative Agent or any other Secured Party or unenforceable or provide the basis for a defense of usury, then the Administrative Agent shall have the right and option, by written notice to the Mortgagor of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations immediately due and payable. The Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Secured Obligations for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof; for real estate tax purposes by reason of this Mortgage or the Secured Obligations . If such claim, credit or deduction shall be required by law, the Administrative Agent shall have the option, by written notice of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. If any law is enacted or adopted or amended after the date of this Mortgage Agreement which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Secured Obligations Debt or the Lender’s interest of the Administrative Agent or any other Secured Party in the Property, requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor Borrower will pay the sametax, with interest and penalties thereon, if any. If the Administrative Agent Lender is advised by counsel chosen by it that the payment of tax by the Mortgagor Borrower would be unlawful or taxable to the Administrative Agent or any other Secured Party Lender or unenforceable or provide the basis for a defense of usury, usury then the Administrative Agent Lender shall have the right and option, option by written notice to the Mortgagor of not less than ninety one hundred twenty (90120) calendar days, to declare an Event of Default to exist under this Mortgage and days to declare the Secured Obligations Debt immediately due and payable. The Mortgagor Borrower will not claim or demand or be entitled to any credit or credits on account of the Secured Obligations Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof; , for real estate tax purposes by reason of this the Mortgage or the Secured Obligations Debt. If such claim, credit or deduction shall be required by law, the Administrative Agent Lender shall have the option, by written notice of not less than ninety one hundred twenty (90120) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations Debt immediately due and payable. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, the Mortgage, or any of the other Loan Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. If any law is enacted or adopted or amended after the date of this Mortgage Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Secured Obligations Debt or the Lender's interest of the Administrative Agent or any other Secured Party in the Property, requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor Borrower will pay the sametax, with interest and penalties thereon, if any. If the Administrative Agent Lender is advised by counsel chosen by it that the payment of tax by the Mortgagor Borrower would be unlawful or taxable to the Administrative Agent or any other Secured Party Lender or unenforceable or provide the basis for a defense of usury, then the Administrative Agent Lender shall have the right and option, option by written notice to the Mortgagor of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and days to declare the Secured Obligations Debt immediately due and payable. The Mortgagor Borrower will not claim or demand or be entitled to any credit or credits on account of the Secured Obligations Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof; , for real estate tax purposes by reason of this Mortgage Security Instrument or the Secured Obligations Debt. If such claim, credit or deduction shall be required by law, the Administrative Agent Lender shall have the option, by written notice of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations Debt immediately due and payable. If at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps to be affixed to the Note, this Security Instrument, or any of the Other Security Documents or impose any other tax or charge on the same, Borrower will pay for the same, with interest and penalties thereon, if any.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. (a) If any law is enacted or adopted or amended after the date of this Mortgage Security Instrument which deducts the Debt from the value of the Property for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Secured Obligations Debt or the Lender's interest of the Administrative Agent or any other Secured Party in the Property, requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor Borrower will pay the sametax, with interest and penalties thereon, if any. If the Administrative Agent Lender is advised by counsel chosen by it that the payment of tax by the Mortgagor Borrower would be unlawful or taxable to the Administrative Agent or any other Secured Party Lender or unenforceable or provide the basis for a defense of usury, then the Administrative Agent Lender shall have the right and option, option by written notice to the Mortgagor of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and days to declare the Secured Obligations Debt immediately due and payable. The Mortgagor Borrower will not claim or demand or be entitled to any credit or credits on account of the Secured Obligations Debt for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof; , for real estate tax purposes by reason of this Mortgage Security Instrument or the Secured Obligations Debt. If such claim, credit or deduction shall be required by law, the Administrative Agent Lender shall have the option, by written notice of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations Debt immediately due and payable.

Changes in Tax, Debt, Credit and Documentary Stamp Laws. If any law is enacted or adopted or amended after the date of this Mortgage which imposes a tax, either directly or indirectly, on the Secured Obligations or the interest of the Administrative Agent or any other Secured Party in the Property, requires revenue or other stamps to be affixed to any of the Loan Documents, or imposes any other tax or charge on the same, the Mortgagor will pay the same, with interest and penalties thereon, if any. If the Administrative Agent is advised by counsel chosen by it that the payment of tax by the Mortgagor would be unlawful or taxable to the Administrative Agent or any other Secured Party or unenforceable or provide the basis for a defense of usury, then the Administrative Agent shall have the right and option, by written notice to the Mortgagor of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations immediately due and payable. The Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Secured Obligations for any part of the Taxes or Other Charges assessed against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property, or any part thereof; for real estate tax purposes by reason of this Mortgage or the Secured Obligations Obligations. If such claim, credit or deduction shall be required by law, the Administrative Agent shall have the option, by written notice of not less than ninety (90) calendar days, to declare an Event of Default to exist under this Mortgage and to declare the Secured Obligations immediately due and payable.