Common use of Right to Contest Clause in Contracts

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation thereby.

Appears in 2 contracts

Sources: Master Lease Agreement (Synalloy Corp), Master Lease Agreement (Synalloy Corp)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by Notwithstanding anything to the contrary in this Section 6.01 Agreement, FirstWorld shall have the right to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee maycontest, at its own sole expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings diligently conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitationfaith, the amount or validity of any Imposition or applicationother tax or fee and the valuation, in whole assessment or in part, reassessment (whether proposed or final) of the Leased Premises for purposes of real estate and personal property taxes. FirstWorld may defer payment of the contested amount pending the outcome of such itemcontest, provided that (i) neither such deferral does not subject the Properties nor Leased Premises or the Conduit or any interest therein would other right or asset of Irvine, to any risk of forfeiture or Irvine to any risk of criminal liability. Irvine shall not be required to join in any danger such contest proceedings unless such proceedings must be brought in the name of being soldIrvine, forfeited or lost by reason of provided however, that Irvine shall have the right to participate in any such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and proceedings to the extent required it determines that such participation is necessary or appropriate to protect its interests, and Irvine shall be entitled to be reimbursed by the applicable taxing authority and/or LessorFirstWorld upon demand for legal fees incurred by it in participating in any such proceeding. If any such proceedings must be brought in Irvine's name, Lessee posts a bond or takes other steps acceptable Irvine shall cooperate with FirstWorld so as to permit such proceedings to be brought in Irvine's name. FirstWorld shall pay all reasonable costs and expenses (including reasonable attorneys' fees) incident to such taxing authority and/or Lessor that removes proceedings. FirstWorld shall be entitled to any refund of any contested amount (and penalties and interest paid by FirstWorld) to the extent such lien refund is of amounts previously paid by FirstWorld with regard to such contested amount, whether such refund is made during or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies after the Term of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon this Agreement. Upon termination of such proceedingsFirstWorld's contest of any amount, it FirstWorld shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof (if any) as has been finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedingsproceedings to be due, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebyImposition.

Appears in 2 contracts

Sources: Lease Agreement (Firstworld Communications Inc), Lease Agreement (Firstworld Communications Inc)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee Tenant shall provide Lessor Landlord with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor Landlord that taxes and assessments have been timely paid by LesseeTenant. In the event Lessor Landlord receives a tax ▇▇▇▇, Lessor Landlord shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee Tenant within fifteen thirty (1530) days of LessorLandlord’s receipt thereof. Lessee Tenant may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described above-described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties Property nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessoror Landlord, Lessee Tenant posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereofthereof or, in the event the applicable taxing authority has not received payment of the contested taxes or required posting of a bond, Tenant provides Landlord a deposit or reasonably acceptable financial instrument as collateral for the payment of the disputed taxes and assessments if required by Landlord; (iv) Lessee each Tenant and Landlord shall promptly provide Lessor the other with copies of all notices received or delivered by Lessee to either party and filings made by Lessee Tenant in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee Tenant to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor Landlord shall at the request of LesseeTenant, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor Landlord shall incur no material cost or obligation thereby. Nothing contained herein shall limit or restrict Landlord from contesting (or controlling, with counsel of its own choosing, any contestation of) any real estate tax or assessment matter pertaining to the Property if Landlord so elects (but without any obligation to do so).

Appears in 2 contracts

Sources: Lease Agreement (Nortech Systems Inc), Lease Agreement (Nortech Systems Inc)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by Notwithstanding anything to the contrary in this Section 6.01 Agreement, FirstWorld shall have the right to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee maycontest, at its own sole expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings diligently conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitationfaith, the amount or validity of any Imposition or applicationother tax or fee and the valuation, in whole assessment or in part, reassessment (whether proposed or final) of FirstWorld's property or any Conduit for purposes of real and personal property taxes. FirstWorld may defer payment of the contested amount pending the outcome of such itemcontest, provided that (i) neither such deferral does not subject any portion of the Properties nor Conduit or any interest therein would other right or asset of Irvine, to any risk of forfeiture or Irvine to any risk of criminal liability. Irvine shall not be required to join in any danger such contest proceedings unless such proceedings must be brought in the name of being soldIrvine, forfeited or lost by reason of provided however, that Irvine shall have the right to participate in any such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and proceedings to the extent required it determines that such participation is necessary or appropriate to protect its interests, and Irvine shall be entitled to be reimbursed by the applicable taxing authority and/or LessorFirstWorld upon demand for legal fees incurred by it in participating in any such proceeding. If any such proceedings must be brought in Irvine's name, Lessee posts a bond or takes other steps acceptable Irvine shall cooperate with FirstWorld so as to permit such proceedings to be brought in Irvine's name. FirstWorld shall pay all reasonable costs and expenses (including reasonable attorneys' fees) incident to such taxing authority and/or Lessor that removes proceedings. FirstWorld shall be entitled to any refund of any contested amount (and penalties and interest paid by FirstWorld) to the extent such lien refund is of amounts previously paid by FirstWorld with regard to such contested amount, whether such refund is made during or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies after the Term of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon this Agreement. Upon termination of such proceedingsFirstWorld's contest of any amount, it FirstWorld shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof (if any) as has been finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedingsproceedings to be due, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebyImposition.

Appears in 2 contracts

Sources: Telecommunications System License Agreement (Firstworld Communications Inc), Telecommunications System License Agreement (Firstworld Communications Inc)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by Notwithstanding anything to the contrary in this Section 6.01 Operating Property Agreement, SNA shall have the right to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee maycontest, at its own sole expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings diligently conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitationfaith, the amount or validity of any tax or applicationfee; the valuation, in whole assessment or in part, reassessment (whether proposed or final) of the Leased Property for purposes of real estate taxes; or the validity of any Applicable Law or the application of any Applicable Law to the Leased Property. SNA may defer payment of the contested amount or compliance with the contested Applicable Law or performance of any other contested obligation pending the outcome of such itemcontest, provided that (i) neither such deferral does not subject the Properties nor Leased Property to any interest therein would material risk of imminent forfeiture or the City to any material risk of criminal liability. The City shall not be required to join in any danger such contest proceedings unless an Applicable Law shall require that such proceedings be brought in the name of being soldthe City. In such case, forfeited or lost subject to the approval of the City Council, the City shall cooperate with SNA so as to permit to such proceedings to be brought in the City's name. SNA shall pay all reasonable costs and expenses (including reasonable attorneys' fees) incident to such proceedings. SNA shall be entitled to any refund of any contested amount (and penalties and interest paid by reason SNA) based upon SNA's prior overpayment of such proceedings; (ii) no Event contested amount, whether such refund is made during or after the Term of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon this Operating Property Agreement. Upon termination of such proceedingsSNA's contest of any amount, it SNA shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof (if any) as has been finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedingsproceedings to be due, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such Imposition. Upon final termination of SNA's contest of an Applicable Law, SNA shall comply with such final determination. SNA's right to contest any amount or proceedingsthe valuation, but Lessor assessment or reassessment of the Leased Property for tax purposes shall incur be to the exclusion of the City, and the City shall have no cost or obligation therebyright to contest the foregoing without SNA's consent, not to be unreasonably withheld.

Appears in 1 contract

Sources: Operating Property Agreement (Firstworld Communications Inc)

Right to Contest. Within Mortgagor shall have the right to contest in good faith the validity or amount of any tax assessment or lien arising from any work performed at or materials furnished to the premises which right, however, is conditional upon (i) such contest having the effect of preventing the collection of the tax, assessment or lien so contested and the sale or forfeiture of the premises or any part thereof or interest therein to satisfy the same, (ii) Mortgagor giving Mortgagee written notice of its intention to contest the same in a timely manner, which, with respect to any contested tax or assessment, shall mean before any such tax, assessment or lien has been increased by any penalties or costs, and with respect to any contested mechanic's lien claim, shall mean within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paidMortgagor receives actual notice of the filing thereof, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if Mortgagor making and thereafter maintaining with Mortgagee or such other depository as Mortgagee may designate, a deposit of cash (or United States government securities, in discount form, or other security as may, in Mortgagee's sole discretion, be acceptable to Mortgagee, and in either case having a present value equal to the extent required by amount herein specified) in an amount no less than One Hundred Fifty Percent (150%) of the applicable taxing authority and/or Lessoramount which, Lessee posts a bond or takes other steps acceptable in Mortgagee's reasonable opinion, determined from time to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedingstime, it shall be the obligation of Lessee sufficient to pay the amount of any in full such tax and contested tax, assessment or part thereof as finally determined in such proceedingslien and penalties, the payment of which costs and interest that may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join become due thereon in the execution event of any instruments a final determination thereof adverse to Mortgagor or documents necessary in connection with the event Mortgagor fails to prosecute such contest as herein required, or proceedingsin lieu thereof, but Lessor shall incur no cost or obligation thereby.Mortgagor providing to Mortgagee title insurance over

Appears in 1 contract

Sources: Real Estate Mortgage and Security Agreement (American Retirement Corp)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required Tenant may contest, in good faith, by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, appropriate proceedings at its own expenseexpense any Real Estate Taxes provided that Tenant shall first have paid such Real Estate Taxes or, if the payment of such Real Estate Taxes is to be postponed during the pendency of such contest, Tenant shall have furnished Landlord with such additional sums as may reasonably be required to pay interest or penalties accrued or to accrue on any such Real Estate Taxes and shall indemnify and hold Landlord harmless from any loss resulting from the failure to timely pay such Real Estate Taxes. Nothing contained herein, however, shall release Tenant of the obligation to pay and discharge contested Real Estate Taxes as finally adjudicated, with interest and penalties, and all other charges directed to be paid in or by any such adjudication. Any such contest or cause legal proceeding shall be commenced by Tenant with due promptness after the imposition of any contested Real Estate Taxes and shall be prosecuted to be contested (final adjudication with all reasonable promptness and dispatch; provided, however, that Tenant may in its discretion consolidate any proceeding to obtain a reduction in the case assessed valuation of the Premises for tax purposes relating to any tax year with any similar proceeding or proceedings relating to one or more other tax years. Notwithstanding anything contained in this Section 6.5, Tenant shall pay all such contested Real Estate Taxes before the time when the Premises or any part thereof might be subject to lien or forfeited as a result of nonpayment. Landlord shall, at no out-of-pocket cost to Landlord, join in any proceedings referred to above and hereby agrees that the same may be brought in its name, if the provisions of any item involving more than $10,000law, after prior written notice to Lessorrule or regulation at the time in effect shall so require. Tenant shall indemnify and save Landlord harmless from any liabilities, which shall be given within fifteen losses, or out of pocket expenses (15including reasonable attorneys fees) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with any such proceeding; proceedings in which Landlord shall join or permit to be brought in its name or any such contest. Prior to the distribution of any refund, Tenant shall be entitled to recover its reasonable, out of pocket costs incurred in contesting taxes. Prior to distribution of any refund, Tenant shall thereafter be entitled to any remaining refund of any Real Estate Taxes, and (v) upon all penalties or interest thereon received by Landlord which shall have been paid by Tenant, or which shall have been paid by Landlord but previously reimbursed in full by Tenant. The terms of this Section 6.5 shall survive the expiration or sooner termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebythis Lease.

Appears in 1 contract

Sources: Industrial Lease (Williams Sonoma Inc)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s 4837-1132-0135.14 STORE / RT Logic (Kratos) Lease Agreement (New Building Area) File No.: 7210/02-525.1 determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties Property nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation thereby.

Appears in 1 contract

Sources: Lease Agreement (Kratos Defense & Security Solutions, Inc.)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,00025,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described above-described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of any such item, provided that (i) neither the Properties Property nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation thereby.

Appears in 1 contract

Sources: Lease Agreement (API Technologies Corp.)

Right to Contest. Within thirty five (305) days after Business Days of the date by which each tax and assessment payment is required by this Section 6.01 5.01 to be paid, Lessee shall provide Lessor with receipts or other evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes each tax and assessments have assessment has been timely paid by Lessee▇▇▇▇▇▇. In the event Lessor receives a tax ▇▇▇▇bill, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ bill to Lessee within fifteen five (155) days Business Days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination prior to contest contesting any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described above described item or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor or Lessor’s lender, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor or Lessor’s lender that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all material notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee▇▇▇▇▇▇, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation thereby.

Appears in 1 contract

Sources: Master Lease Agreement (Societal CDMO, Inc.)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after After prior written notice to LessorLender, which Borrower shall be given within fifteen (15) days of Lessee’s determination have the right, at its sole expense, to contest any matter as permitted herein), by appropriate legal proceedings proceedings, promptly initiated and diligently conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitationfaith, the validity, amount or validity or application, in whole or in part, of such itemany of the Taxes or Other Charges, provided that that: (a) if any Event of Default exists, at Lender’s option, Lender shall have the right to control the prosecution of such contest directly or through Borrower; (b) either (i) neither Borrower shall have satisfied the Properties nor any requirements of the applicable laws, rules, regulations or agreements governing such contest with respect to payment of the contest amount or escrowing or otherwise securing the payment of the contested amount (i.e., if the contested item must be paid to avoid a default or lien, then such payment must be made) or (ii) such proceeding shall suspend the collection of the contested Taxes or Other Charges from Borrower and from the Property and no portion of the Property or interest therein would shall be in any danger of being sold, forfeited forfeited, terminated, canceled or lost by reason lost; (c) such contest is not reasonably likely to result in the sale, forfeiture or material impairment of such proceedingsthe Property or the Borrower’s or Lender’s interests therein; and (ii) no Event of Default has occurred and is continuing; (iiid) if and to the extent contested amount is not already escrowed for under this Deed of Trust, Borrower shall have furnished such security as may be required in the proceeding or reasonably required by Lender to insure the applicable taxing authority and/or Lessorpayment of any such Taxes or Other Charges, Lessee posts a bond together with all interest and penalties thereon or, if not required, Borrower shall have set aside adequate reserves for the payment of the Taxes or takes other steps acceptable Other Charges, together with all interest and penalties thereon. Upon completion of any contest, Borrower shall pay when due any amount due, and deliver to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee Lender proof of the completion of the contest and payment of the amount due, whereupon Lender shall promptly provide Lessor return any security deposited with Lender. Borrower shall deliver copies of all notices received or delivered relating to any Taxes and Other Charges covered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee this Article IV to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebyLender.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Xm Satellite Radio Holdings Inc)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇Walgreens shall not be in compliance with the tenns of the Walgreens Lease obligating Walgreens to undertake the payment of Taxes and Other Charges assessed or imposed against the Prope1iy, Lessor shall use commercially reasonable efforts after prior written notice to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee mayLender, Borrower, at its own expense, may contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings proceeding, promptly initiated and conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, application in whole or in part, part of such itemany of the Taxes or Other Charges, provided that that: (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default exists; (ii) such proceeding suspends the collection of such Taxes or Other Charges and the Property will not be in danger of being sold for such unpaid Taxes or Other Charges, or Borrower has occurred and is continuingpaid all of such Taxes or Other Charges under protest; (iii) if such proceeding is permitted under and is conducted in accordance with the provisions of any other instrument to which Borrower or the extent required by the applicable taxing authority and/or Lessor, Lessee posts Property is subject and does not constitute a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereofdefault thereunder; (iv) Lessee if Borrower has not paid the disputed amounts in full under protest, Borrower shall promptly provide Lessor deposit with copies Lender cash (or other security as may be approved, in writing, by Lender) in an amount Lender deems sufficient to insure the payment of any such Taxes or Other Charges together with interest and penalties thereon, if any, provided that after a Securitization, one hundred twenty-five percent (125%) of the contested amount (plus anticipated penalty and interest) shall be deposited with Lender; (v) Borrower furnishes to Lender all notices received or delivered other items reasonably requested by Lessee and filings made by Lessee in connection with such proceedingLender; and (vvi) upon termination of such proceedingsa final determination thereof, it shall be the obligation of Lessee to pay Borrower promptly pays the amount of any such tax and assessment Taxes or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedingsOther Charges, together with any all costs, fees (including attorneys’ fees interest and disbursements), interest, penalties or other liabilities which may be payable in connection therewith. Lessor Lender may pay over any security held by Lender pursuant to this Section to the claimant entitled thereto at any time when, in Lender's judgment, the entitlement of such claimant is established, and, to the extent the security posted by Borrower with Lender is insufficient to pay the full amount due (including, without limitation, any penalties or interest thereon), Borrower shall be liable for the deficiency. If Lender pays the deficiency (which Lender shall not be obligated to do), the amount paid by Lender shall be added to principal, shall bear interest at the request Default Rate until paid in full and payment of Lessee, execute or join in such amounts shall be secured by the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebySecurity Instrument and other collateral given to secure the Loan.

Appears in 1 contract

Sources: Loan Agreement (Cole Credit Property Trust V, Inc.)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax b▇▇▇, Lessor shall use commercially reasonable efforts to forward said b▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof; provided, however, Lessor’s failure to forward said b▇▇▇ shall not constitute a default by Lessor under this Lease. Lessee may, at its own expense, contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, thereto or the amount or validity or application, in whole or in part, assessed valuation of such itemany of the Properties, provided that (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies of all notices received or delivered by Lessee and filings made by Lessee in connection with such proceeding; and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements), interest, penalties or other liabilities in connection therewith. Lessor shall at the request of Lessee, execute or join in the 4851-8930-3408.5 STORE / Ampco Master Lease Agreement 4 Properties in PA and IN File No.: 7210/02-637 execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation thereby.

Appears in 1 contract

Sources: Master Lease Agreement (Ampco Pittsburgh Corp)

Right to Contest. Within thirty (30a) days after each Tenant shall have the right at its expense to contest the rate, legality or validity of any tax and or assessment payment is required by this Section 6.01 provided herein to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇Tenant, Lessor shall use commercially reasonable efforts to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee may, at its own expense, but no such contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), carried on or maintained by appropriate legal proceedings conducted in good faith and with due diligence, any above‑described item Tenant after such taxes or lien with respect thereto, including, without limitation, the amount or validity or application, in whole or in part, of such item, provided that assessments become delinquent unless Tenant shall (i) neither pay its share of the Properties nor any interest therein would be in any danger of being soldamount involved under protest, forfeited or lost by reason of such proceedings; (ii) no Event of Default has occurred procure and is continuing; (iii) if and to the extent required by the applicable taxing authority and/or Lessor, Lessee posts maintain a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereof; (iv) Lessee shall promptly provide Lessor with copies stay of all notices received or delivered by Lessee proceedings to enforce collection, forfeiture and filings made by Lessee in connection with such proceeding; sale and (v) upon termination of such proceedings, it shall be the obligation of Lessee to pay the amount of any such tax and assessment or part provide for payment thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedings, together with any costs, fees (including attorneys’ fees and disbursements)all penalties, interest, penalties costs and expenses by the deposit of a sufficient sum of money or by a good and sufficient undertaking or other liabilities in connection therewithmeans required or permitted by law to accomplish such stay. Lessor shall at At the request of LesseeTenant, Landlord will execute or join in the execution of any instruments instrument or documents necessary reasonably required by Tenant in connection with any such contest. Upon the final determination of any such contest in which Tenant prevails and upon receipt by Landlord of the refund of Taxes, Landlord shall reimburse Tenant (i) Tenant's actual out-of-pocket expenses and costs incurred in connection with such contest upon demand by Tenant to the extent such expenses and costs are less than the amount of the refund, and (ii) Tenant's pro rata share of the net refund, meaning the refund as reduced by the payment to Tenant under the preceding clause (i) and Landlord deducting from the refund any reasonable out-of-pocket expenses incurred by Landlord in cooperating in such tax contest. (b) Landlord may contest the rate, legality or proceedingsvalidity of any tax or assessment imposed upon the Shopping Center or the Premises, but Lessor no such contest shall incur no cost be carried on or obligation therebymaintained by Landlord after such taxes or assessments become delinquent unless Landlord shall (i) pay the amount involved under protest, or (ii) procure and maintain a stay of all proceedings to enforce collection, forfeiture and sale and provide for payment thereof together with all penalties, interest, costs and expenses by the deposit of a sufficient sum of money or by a good and sufficient undertaking or other means required or permitted by law to accomplish such stay. Upon the final determination of any such contest in which Landlord prevails and upon receipt by Landlord of the refund of Taxes, Landlord shall deduct from the refund Landlord's reasonable out-of-pocket expenses incurred in connection with such contest and return to Tenant Tenant's pro rata share of the remaining portion of such refund. Expenses incurred in connection with any such contest of taxes by either party shall be supported by documentation reasonably satisfactory to the other party.

Appears in 1 contract

Sources: Lease (99 Cents Only Stores)

Right to Contest. Within thirty (30) days after each tax and assessment payment is required by this Section 6.01 to be paid, Lessee shall provide Lessor with evidence 4849-3174-9992.2 STORE/Synalloy A&R Master Lease Agreement 7 Properties in OH, PA, SC, TN and TX File No. 7210/02-475 reasonably satisfactory to Lessor that taxes and assessments have been timely paid by Lessee. In the event Lessor receives a tax ▇▇▇▇Walgreens shall not be in compliance with the terms of the Walgreens Lease obligating Walgreens to undertake the payment of Taxes and Other Charges assessed or imposed against the Property, Lessor shall use commercially reasonable efforts after prior written notice to forward said ▇▇▇▇ to Lessee within fifteen (15) days of Lessor’s receipt thereof. Lessee mayLender, Borrower, at its own expense, may contest or cause to be contested (in the case of any item involving more than $10,000, after prior written notice to Lessor, which shall be given within fifteen (15) days of Lessee’s determination to contest any matter as permitted herein), by appropriate legal proceedings proceeding, promptly initiated and conducted in good faith and with due diligence, any above‑described item or lien with respect thereto, including, without limitation, the amount or validity or application, application in whole or in part, part of such itemany of the Taxes or Other Charges, provided that that: (i) neither the Properties nor any interest therein would be in any danger of being sold, forfeited or lost by reason of such proceedings; (ii) no Event of Default exists; (ii) such proceeding suspends the collection of such Taxes or Other Charges and the Property will not be in danger of being sold for such unpaid Taxes or Other Charges, or Borrower has occurred and is continuingpaid all of such Taxes or Other Charges under protest; (iii) if such proceeding is permitted under and is conducted in accordance with the provisions of any other instrument to which Borrower or the extent required by the applicable taxing authority and/or Lessor, Lessee posts Property is subject and does not constitute a bond or takes other steps acceptable to such taxing authority and/or Lessor that removes such lien or stays enforcement thereofdefault thereunder; (iv) Lessee if Borrower has not paid tl1e disputed amounts in full under protest, Borrower shall promptly provide Lessor deposit with copies Lender cash (or other security as may be approved, in writing, by Lender) in an amount Lender deems sufficient to insure the payment of any such Taxes or Other Charges together with interest and penalties thereon, if any, provided that after a Securitization, one hundred twenty-five percent (125%) of the contested amount (plus anticipated penalty and interest) shall be deposited with Lender; (v) Borrower furnishes to Lender all notices received or delivered other items reasonably requested by Lessee and filings made by Lessee in connection with such proceedingLender; and (vvi) upon termination of such proceedingsa final determination thereof, it shall be the obligation of Lessee to pay Borrower promptly pays the amount of any such tax and assessment Taxes or part thereof as finally determined in such proceedings, the payment of which may have been deferred during the prosecution of such proceedingsOther Charges, together with any all costs, fees (including attorneys’ fees interest and disbursements), interest, penalties or other liabilities which may be payable in connection therewith. Lessor Lender may pay over any security held by Lender pursuant to this Section to the claimant entitled thereto at any time when, in Lender's judgment, the entitlement of such claimant is established, and, to the extent the security posted by Borrower "'with Lender is insufficient to pay the full amount due (including, without limitation, any penalties or interest thereon), Borrower shall be liable for the deficiency. If Lender pays the deficiency (which Lender shall not be obligated to do), the amount paid by Lender shall be added to principal, shall bear interest at the request Default Rate until paid in full and payment of Lessee, execute or join in such amounts shall be secured by the execution of any instruments or documents necessary in connection with such contest or proceedings, but Lessor shall incur no cost or obligation therebySecurity Instrument and other collateral given to secure the Loan.

Appears in 1 contract

Sources: Loan Agreement (Cole Credit Property Trust V, Inc.)