Common use of Contesting of Taxes and Certain Statutory Liens Clause in Contracts

Contesting of Taxes and Certain Statutory Liens. The Mortgagor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of ----------- any such obligations may be pursued by the Mortgagor (A) if such contest would expose the Mortgagee or any Holder to any possible criminal liability or (B) unless the Mortgagor shall have furnished a bond or other security therefor reasonably satisfactory to the Mortgagee or such Holder, as the case may be, any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the Mortgagor pursuant to this Section 9.1 shall become necessary to prevent the ----------- imminent imposition of remedies because of non-payment, the Mortgagor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.

Appears in 4 contracts

Samples: Security Agreement (Raceland Truck Plaza & Casino LLC), Security Agreement (Raceland Truck Plaza & Casino LLC), Taxes and Certain Statutory (Raceland Truck Plaza & Casino LLC)

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Contesting of Taxes and Certain Statutory Liens. The Mortgagor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of ----------- any such obligations may be pursued by the Mortgagor (A) if such contest would expose the Mortgagee or any Holder to any possible criminal liability or (B) unless the Mortgagor shall have furnished a bond or other security therefor reasonably satisfactory to the Mortgagee or such Holder, as the case may be, including for any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the Mortgagor pursuant to this Section 9.1 shall become necessary to prevent the ----------- imminent imposition of remedies because of non-payment, the Mortgagor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.

Appears in 3 contracts

Samples: Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Security Agreement (Jacobs Entertainment Inc)

Contesting of Taxes and Certain Statutory Liens. The ----------------------------------------------- Mortgagor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of ----------- any such obligations may be pursued by the Mortgagor (A) if such contest would expose the Mortgagee or any Holder to any possible criminal liability or (B) unless the Mortgagor shall have furnished a bond or other security therefor reasonably satisfactory to the Mortgagee or such Holder, as the case may be, any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the Mortgagor pursuant to this Section 9.1 shall become necessary to prevent the ----------- imminent imposition of remedies because of non-payment, the Mortgagor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.

Appears in 2 contracts

Samples: Security Agreement (Raceland Truck Plaza & Casino LLC), Security Agreement (Raceland Truck Plaza & Casino LLC)

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Contesting of Taxes and Certain Statutory Liens. The Mortgagor Each ----------------------------------------------- Grantor may at its own expense contest the validity, amount or applicability of any Charges as long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing provisions of this Section 9.1, (i) no contest of ----------- any such obligations may be pursued by the Mortgagor such Grantor (A) if such contest would expose the Mortgagee Beneficiary or any Holder to any possible criminal liability or (B) unless the Mortgagor such Grantor shall have furnished a bond or other security therefor reasonably satisfactory to the Mortgagee Beneficiary or such Holder, as the case may be, any additional civil liability for failure to comply with such obligations and (ii) if at any time payment or performance of any obligation contested by the Mortgagor such Grantor pursuant to this Section 9.1 shall become necessary to prevent the ----------- imminent imposition of remedies because of non-payment, the Mortgagor such Grantor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default.

Appears in 1 contract

Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)

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