Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment, governmental or other charge upon any part of the Collateral is not paid as required herein, the Trustee may pay such tax, assessment, governmental or other charge, without prejudice, however, to any rights of the Trustee or the Holders arising in consequence of such failure; and any amount at any time so paid under this Section 13.13, with interest thereon from the date of payment at the rate determined by the Trustee, shall become so much additional indebtedness secured by this Indenture, and the same shall be given a preference in payment over any of the Bonds, and shall be paid out of the proceeds or revenues collected from the Collateral, if not otherwise caused to be paid; but the Trustee shall not be under any obligation to make any such payment unless it shall have been requested to do so by the Holders of at least twenty-five percent (25%) of the then Aggregate Outstanding Principal Amount of the Bonds and shall have been provided with adequate funds for the purpose of such payment.
Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon any part of the property herein conveyed is not paid as required herein or by law, the Trustee may pay such tax, assessment or governmental charge, without prejudice, however, to any rights of the Trustee or the Holders hereunder arising as a result of such failure; and any amount at any time so paid under this Section with interest thereon from the date of payment at the Interest Rate for Advances, shall become so much additional indebtedness secured by this Indenture, and shall be paid out of the Revenues (excluding moneys in the Bond Fund or Bond Purchase Fund (i) held pursuant to Section 403 hereof, (ii) for the payment of Unsurrendered Bonds or (iii) representing proceeds of a drawing under the Letter of Credit), if not otherwise paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Holders of at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided with adequate funds for the purpose of payment.
Right of Trustee to Pay Taxes and Other Charges. Reference is made to Section 4.1(c) of the Facilities Agreement whereby the Corporation is authorized to advance moneys (i) to pay taxes, assessments and other governmental charges with respect to the Real Property and the Project Facilities, (ii) for the discharge of mechanic’s and other liens relating to the Real Property and the Project Facilities, (iii) to obtain and maintain insurance for the Real Property and the Project Facilities and pay premiums therefor, and (iv) generally, to make payments and incur expenses in the event that the County fails to do so as required by such Facilities Agreement. The Trustee may make those advances but shall not be required to do so (and may require indemnification) pursuant to Sections 6.1(e) (iv) and 6.2(j) hereof, but without prejudice to any rights of the Trustee as assignee of the Corporation against the County for failure of the County to do so.
Right of Trustee to Pay Taxes and Other Charges. Reference is made to the Purchase and Use Agreement whereby the Corporation is authorized to advance moneys (i) to pay taxes, assessments and other governmental charges with respect to the Facilities and the 2017 Real Property, (ii) for the discharge of mechanic’s and other liens relating to the Facilities or the 2017 Real Property, (iii) to obtain and maintain insurance for the Facilities and the 2017 Real Property and pay premiums therefor, and (iv) generally, to make payments and incur expenses in the event that the City fails to do so as required by such Purchase and Use Agreement or the Base Lease. The Trustee may make those advances but shall not be required to do so (and may require indemnification) pursuant to Sections 6.1(e)(iv) hereof, but without prejudice to any rights of the Trustee as assignee of the Corporation against the City for failure of the City to do so.
Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon any part of the Project is not paid prior to delinquency, to the extent, if any, that the same is legally payable, the Trustee may, but shall be under no duty to, pay such tax, assessment or governmental or other charge, without prejudice, however, to any rights of the Trustee or any Bondholder hereunder arising as a consequence of such failure; and any amount at any time so paid under this Section 9.10, under the Bond Loan Agreement, or under the Mortgage, with interest thereon at the rate borne by the Bonds at the Default Rate, shall be repaid to the Trustee upon demand under the Bond Loan Agreement, and shall become so much additional indebtedness secured by this Indenture, and the same shall be given a preference in payment over the Bonds, except with respect to the payment of any principal, interest or premium on the Bonds which is then due but not paid, but the Trustee shall be under no obligation to make such payment of taxes, assessments or governmental charges unless it shall have been requested to do so by the Bondowner Representative and shall have been provided with adequate indemnity for the purpose of such payment. Any such payment shall be made upon five (5) days’ prior written notice to the Borrower unless the delay occasioned by any such written notice could result in the forfeiture or termination of any right.
Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon, or insurance premium with respect to, any part of the Project is not paid as required herein or in the Lease, the Trustee may pay such tax, assessment or governmental charge or insurance premium, without prejudice to any rights of the Trustee or the Owners hereunder arising in consequence of such failure; provided, however, that the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the Owners of at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided adequate funds for the purpose of such payment. Any amount at any time so paid under this Section, with interest thereon from the date of payment at a rate per annum equal to the Trustee's published prime rate in effect at the time, shall become an additional obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of, premium, if any, or interest on the Bonds, and shall be paid out of the proceeds of rents, revenues and receipts collected from the Project, if not otherwise caused to be paid.
Right of Trustee to Pay Taxes and Other Charges. If case any tax, assessment or governmental or other charge upon, or insurance premium with respect to, any part of the Project is not paid as required herein or in the Lease Agreement, the Trustee may pay such tax, assessment or governmental charge or insurance premium without prejudice to any rights of the Trustee or the Bondowners or the Letter of Credit Provider hereunder arising in consequence of such failure; but the Trustee shall be under no obligation to make any such payment unless it has been requested to do so by the Owners of at least 25% in aggregate principal amount of the Bonds then Outstanding or the Letter of Credit Provider and has been provided adequate funds for the purpose of such payment. Any amount at any time so paid under this Section, with interest thereon from the date of payment at 2% over the prime rate of interest announced from time to time by the Trustee, shall become an additional obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of or redemption premium, if any, or interest on the Bonds, and shall be paid out of the proceeds of rents, revenues and receipts derived by the Issuer pursuant to the Lease Agreement, if not otherwise caused to be paid. In no event shall such amounts be payable from the proceeds of any draw under the Letter of Credit.
Right of Trustee to Pay Taxes and Other Charges. In case any tax, assessment or governmental or other charge upon, or insurance premium with respect to, any part of the Project is not paid as required herein or in the Lease, and the Company has failed after 30 days’ written notice to make such payment, the Trustee may pay such tax, assessment or governmental charge or insurance premium or rebate amount, without prejudice, however, to any rights of the Trustee or the Bondowners hereunder arising in consequence of such failure; and any amount at any time so paid under this Section, with interest thereon from the date of payment at a rate per annum equal to the Trustee’s published prime rate in effect at the time, shall become an additional obligation secured by this Indenture, and the same shall be given a preference in payment over any payment of principal of, premium, if any, or interest on the Bonds, and shall be paid out of the proceeds of rents, revenues and receipts collected from the Project, if not otherwise caused to be paid; but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by Bondowners owning at least 25% of the aggregate principal amount of Bonds then Outstanding and shall have been provided adequate funds for the purpose of such payment. Trust Estate May Be Vested in Co‑trustee. It is the purpose of this Indenture that there shall be no violation of any law of any jurisdiction (including particularly the State) denying or restricting the right of banking corporations or associations to transact business as trustee in such jurisdiction. It is recognized that in case of litigation under this Indenture or the Lease, and in particular in case of the enforcement of either on default, or in case the Trustee deems that by reason of any present or future law of any jurisdiction it may not exercise any of the powers, rights or remedies herein granted to the Trustee, or take any other action which may be desirable or necessary in connection therewith, it may be necessary or desirable that the Trustee appoint an additional individual or institution as a co‑trustee or separate trustee, and the Trustee is hereby authorized to appoint such co‑trustee or separate trustee. In the event that the Trustee appoints an additional individual or institution as a co‑trustee or separate trustee, each and every remedy, power, right, claim, demand, cause of action, immunity, title, interest and lien expressed or intended by this Indenture to be exercised ...
Right of Trustee to Pay Taxes and Other Charges. The Trustee is authorized, but not obligated, after prior written notice to any Credit Support Provider, to advance moneys on hand whenever necessary and advisable to do so because of the failure of the Authority to observe or perform any covenant or agreement under this CFC Master Trust Agreement. The making by the Trustee of those advances shall not constitute a waiver of, and shall not prejudice, any rights of the Trustee or holders against the Authority for failure of the Authority to do so. Any amount so paid at any time, with interest thereon at a rate that is the rate announced by the Trustee in its lending capacity as a bank as its “prime rate” or “base rate” on the date of such payment, (i) shall be an additional obligation secured by this CFC Master Trust Agreement,
Right of Trustee to Pay Taxes and Other Charges. The Trustee is authorized, but not obligated, to advance funds whenever necessary and advisable to do so because of the failure of the State to observe or perform any covenant or agreement under this Indenture. The making by the Trustee of those advances shall not constitute a waiver of, and shall not prejudice, any rights of the Trustee or the Holders against the State for failure of the State to do so. Whenever the Trustee shall have received a written notice from the Holders of not less than 25% in aggregate principal amount of the Bonds then outstanding requesting it to take any action, including the making of advances or expenditures, authorized by the provisions of this Indenture, and shall have been offered indemnity as provided in Section 6.02(j) of this Indenture, and shall have refused to take or, for a period of 60 days shall not have taken, that action, then the Holders making the request are hereby authorized to take that action and shall be entitled to the same rights and remedies as the Trustee would have been entitled if that action had been taken by the Trustee.
