Common use of Impound Clause in Contracts

Impound. If required by a Facility Mortgagee (as hereinafter defined) or upon Lessor’s written notice to Lessee during the Term, Lessor may require Lessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor in trust or as an agent of Lessee, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee shall within ten (10) days after demand deposit the deficiency with Lessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as of the Termination Date shall be refunded to Lessee. Lessee shall forward to Lessor or its designee all Tax bills, bond and assessment statements promptly upon receipt. If Lessor transfers this Lease, it shall transfer all such deposits to the transferee, and Lessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a the Facility Mortgagee (as hereinafter defined) or upon Lessor’s Landlord's written notice to Lessee Tenant during the Term, Lessor Landlord may require Lessee Tenant to pay with each Rent payment a deposit of one-one twelfth (1/12thl/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Landlord in trust or as an agent of LesseeTenant, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Tenant shall within ten (( 10) days after demand deposit the deficiency with LessorLandlord. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeTenant within thirty calendar (30) days. Lessee Tenant shall forward to Lessor Landlord or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Landlord transfers this Lease, it shall transfer all such deposits to the transferee, and Lessor Landlord shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a the Facility Mortgagee (as hereinafter defined) or upon LessorSublessor’s written notice to Lessee Sublessee during the Term, Lessor Sublessor may require Lessee Sublessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Sublessor in trust or as an agent of LesseeSublessee, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Sublessee shall within ten (10) days after demand deposit the deficiency with LessorSublessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Sublease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Sublease Year HNZW/493958_2/3583-96 shall be refunded to LesseeSublessee within thirty calendar (30) days. Lessee Sublessee shall forward to Lessor Sublessor or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Sublessor transfers this LeaseSublease, it shall transfer all such deposits to the transferee, and Lessor Sublessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee (as hereinafter defined) or upon LessorUpon Sublessor’s written notice to Lessee Sublessee during the Term, Lessor Sublessor may require Lessee Sublessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Sublessor in trust or as an agent of LesseeSublessee, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Sublessee shall within ten (10) days after demand deposit the deficiency with LessorSublessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Sublease Year shall be reduced proportionately and any such excess as of the Termination Date shall be refunded to LesseeSublessee. Lessee Sublessee shall forward to Lessor Sublessor or its designee all Tax bills, bond and assessment statements promptly upon receipt. If Lessor Sublessor transfers this LeaseSublease, it shall transfer all such deposits to the transferee, and Lessor Sublessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a the Facility Mortgagee (as hereinafter defined) or upon Lessor’s written notice to Lessee during the Term, Lessor may require Lessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor in trust or as an agent of Lessee, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee shall within ten (10) days after demand deposit the deficiency with Lessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeLessee within thirty calendar (30) days. Lessee shall forward to Lessor or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor transfers this Lease, it shall transfer all such deposits to the transferee, and Lessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee (as hereinafter defined) or upon Lessor’s written notice to Lessee during the Term, Lessor may require Lessee to pay a)Tenant shall include with each Minimum Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Landlord in trust or as an agent of LesseeTenant, but rather shall be applied to the payment of the related obligations. Provided that the impound deposits are then sufficient for payment of the applicable obligations, (i) the amounts held by Landlord shall be applied by Landlord directly to the payment of the related obligations in a timely fashion and prior to the imposition of any Penalty, and (ii) if any Penalty results from Landlord’s failure to timely make any such payment, such Penalty shall be borne by Landlord. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Tenant shall within ten (10) days after demand deposit the deficiency with LessorLandlord. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeTenant within thirty calendar (30) days so long as there is not then outstanding an Event of Default under this Lease. Lessee Tenant shall forward to Lessor Landlord or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Landlord transfers this Lease, it shall transfer all such deposits to the transferee, and Lessor Landlord shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a the Facility Mortgagee (as hereinafter defined) or upon Lessor’s Sublessor's written notice to Lessee Sublessee during the Term, Lessor Sublessor may require Lessee Sublessee to pay with each Rent payment a deposit of one-twelfth (1/12thl/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Sublessor in trust or as an agent of LesseeSublessee, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Sublessee shall within ten (10) days after demand deposit the deficiency with LessorSublessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Sublease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Sublease Year shall be refunded to LesseeSublessee within thirty calendar (30) days. Lessee Sublessee shall forward to Lessor Sublessor or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Sublessor transfers this LeaseSublease, it shall transfer all such deposits to the transferee, and Lessor Sublessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee (as hereinafter defined) or upon Upon Lessor’s written notice to Lessee during the Term, Lessor may require Lessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor in trust or as an agent of Lessee, but rather shall be applied solely to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee shall within ten (10) days after demand deposit the deficiency with Lessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeLessee within thirty calendar (30) days. Lessee shall forward to Lessor or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor transfers this Lease, it shall transfer all such deposits to the transferee, and upon the new lessor’s assumption of this Lease, Lessor shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee At the commencement of the Term Tenant shall deposit the sum of Dollars (as hereinafter defined) or upon Lessor’s written notice to Lessee during the Term$ ), Lessor may require Lessee to pay [pro rated amount for current tax year] and thereafter Tenant shall include with each Minimum Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The These deposits shall not bear interest nor be held by Lessor Landlord in trust or as an agent of LesseeTenant, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Tenant shall within ten (10) days after demand deposit the deficiency with LessorLandlord. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeTenant within thirty calendar (30) days. Lessee Tenant shall forward to Lessor Landlord or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received, and, provided no Event of Default is then continuing, Landlord shall timely pay such bills from this tax impound. If Lessor Landlord transfers this Master Lease, it shall transfer all such deposits to the transferee, and Lessor Landlord shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee (as hereinafter defined) or upon LessorLandlord’s written notice to Lessee Tenant during the Term, Lessor Landlord may require Lessee Tenant to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Landlord in trust or as an agent of LesseeTenant, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Tenant shall within ten (10) days after demand deposit the deficiency with LessorLandlord. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeTenant within thirty calendar (30) days. Lessee Tenant shall forward to Lessor Landlord or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Landlord transfers this Lease, it shall transfer all such deposits to the transferee, and Lessor Landlord shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a Facility Mortgagee At the commencement of the Term Tenant shall deposit the sum of Nine Hundred Eighty-One Thousand Seven Hundred Forty-Three and 92/100 Dollars (as hereinafter defined$981,743.92) or upon Lessor’s written notice to Lessee during the Term, Lessor may require Lessee to pay and thereafter Tenant shall include with each Minimum Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The These deposits shall not bear interest nor be held by Lessor Landlord in trust or as an agent of LesseeTenant, but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Tenant shall within ten (10) days after demand deposit the deficiency with LessorLandlord. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Lease Year shall be refunded to LesseeTenant within thirty calendar (30) days. Lessee Tenant shall forward to Lessor Landlord or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received, and, provided no Event of Default is then continuing, Landlord shall timely pay such bills from this tax impound. If Lessor Landlord transfers this Master Lease, it shall transfer all such deposits to the transferee, and Lessor Landlord shall thereafter have no liability of any kind with respect thereto.

Impound. If required by a the Facility Mortgagee (as hereinafter defined) or upon LessorSublessor’s written notice to Lessee Sublessee during the Term, Lessor Sublessor may require Lessee Sublessee to pay with each Rent payment a deposit of one-twelfth (1/12th) of the amount required to discharge the annual amount of real property Taxes secured by a Lien encumbering any portion of the Premises as and when they become due. The deposits shall not bear interest nor be held by Lessor Sublessor in trust or as an agent of LesseeSublessee, HNZW//3583-1 (Xxxxxxxxx) but rather shall be applied to the payment of the related obligations. If at any time within thirty (30) days prior to the due date the deposits shall be insufficient for the payment of the obligation in full, Lessee Sublessee shall within ten (10) days after demand deposit the deficiency with LessorSublessor. If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Lease Sublease Year shall be reduced proportionately and any such excess as at the end of the Termination Date final Sublease Year shall be refunded to LesseeSublessee within thirty calendar (30) days. Lessee Sublessee shall forward to Lessor Sublessor or its designee all Tax bills, bond and assessment statements promptly upon receiptas soon as they are received. If Lessor Sublessor transfers this LeaseSublease, it shall transfer all such deposits to the transferee, and Lessor Sublessor shall thereafter have no liability of any kind with respect thereto.