Common use of Good Faith Contests Clause in Contracts

Good Faith Contests. Nothing in this Section 1.07 shall require the payment or discharge of any obligation imposed upon Mortgagor by this Section so long as such obligation is the subject of a “Good Faith Contest” (as such quoted term is defined in the Loan Agreement); provided, however, that if at any time payment of any obligation imposed upon Mortgagor by clause (a) above shall become necessary to prevent the delivery of a tax deed or other instrument conveying the Mortgaged Property or any portion thereof because of non-payment, then Mortgagor shall pay the same in sufficient time to prevent the delivery of such tax deed or other instrument.

Appears in 9 contracts

Samples: Mortgage (Taubman Centers Inc), Leases and Rents and Security Agreement (Taubman Centers Inc), And Rents and Security Agreement (Taubman Centers Inc)

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Good Faith Contests. Nothing in this Section 1.07 shall require the -------------------- payment or discharge of any obligation imposed upon Mortgagor by this Section so long as such obligation is the subject of a "Good Faith Contest" (as such quoted term is defined in the Loan Agreement)) by Mortgagor; provided, however, that if -------- ------- at any time payment of any obligation imposed upon Mortgagor by clause (a) above shall become necessary to prevent the delivery of a tax deed or other instrument conveying the Mortgaged Property or any portion thereof because of non-payment, then Mortgagor shall pay the same in sufficient time to prevent the delivery of such tax deed or other instrument.

Appears in 1 contract

Samples: Taubman Centers Inc

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