Tax Reduction Proceedings. After an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 14 contracts
Samples: Agreement of Consolidation and Modification (Morgans Hotel Group Co.), Mortgage, Security Agreement (Ashford Hospitality Trust Inc), Deed Of (Lightstone Value Plus Real Estate Investment Trust, Inc.)
Tax Reduction Proceedings. After During the existence of an Event of Default, Borrower shall be deemed to have appointed Lender and Trustee as its attorneyattorneys-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 4 contracts
Samples: Xm Satellite Radio Holdings Inc, Wilshire Oil Co of Texas, Wilshire Oil Co of Texas
Tax Reduction Proceedings. After an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property Projects for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuingexist.
Appears in 3 contracts
Samples: Loan Agreement (Mack Cali Realty Corp), Loan Agreement (Mack Cali Realty L P), Loan Agreement (Mack Cali Realty Corp)
Tax Reduction Proceedings. After an Event of Default, Borrower shall be deemed to have appointed Lender Xxxxxx as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 3 contracts
Samples: Parkway Properties Inc, U Haul International Inc, U Haul International Inc
Tax Reduction Proceedings. After Upon the occurrence and during the continuance of an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 3 contracts
Samples: Morgans Hotel Group Co., Morgans Hotel Group Co., Morgans Hotel Group Co.
Tax Reduction Proceedings. After During the continuance of an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 2 contracts
Tax Reduction Proceedings. After an Event of DefaultDefault and during the continuance thereof, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 1 contract
Tax Reduction Proceedings. After If an Event of DefaultDefault exists, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 1 contract
Samples: Behringer Harvard Reit I Inc
Tax Reduction Proceedings. After During the continuance of an Event of Default, Borrower shall be deemed to have appointed Lender Xxxxxx as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 1 contract
Samples: Maguire Properties Inc
Tax Reduction Proceedings. After During the existence of an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.
Appears in 1 contract
Samples: Wilshire Oil Co of Texas
Tax Reduction Proceedings. After During the continuance of an Event of Default, Borrower shall be deemed to have appointed Lender as its attorney-in-fact to seek a reduction or reductions in the assessed valuation of the Property for real property tax purposes or for any other purpose and to prosecute any action or proceeding in connection therewith. This power, being coupled with an interest, shall be irrevocable for so long as any part of the Debt remains unpaid and any Event of Default shall be continuing.. 92
Appears in 1 contract
Samples: Pebblebrook Hotel Trust
