Taxes and Impositions. (1) Borrower shall pay and discharge all Impositions prior to delinquency. Borrower shall provide to Lender validated receipts or other evidence satisfactory to Lender showing the payment of all real estate and personal property taxes within 15 days after the same would otherwise have become delinquent. Borrower's obligation to pay Impositions pursuant to this Agreement shall include, to the extent permitted by applicable law, taxes resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Should Borrower default in the payment of any Impositions, Lender may (but shall not be obligated to) pay such Impositions or any portion thereof and Borrower shall reimburse Lender on demand for all such Advances.
Appears in 3 contracts
Samples: Loan Agreement (Servico Market Center Inc), Loan Agreement (Servico Market Center Inc), Loan Agreement (Servico Market Center Inc)
Taxes and Impositions. (1A) Borrower shall (i) pay and discharge all Impositions prior to delinquency. Borrower shall , and (ii) provide to Lender validated receipts or such other evidence satisfactory to Lender showing the payment of all real estate and personal property taxes such Impositions within 15 thirty (30) days after the same would have otherwise have become delinquent. Borrower's ’s obligation to pay the Impositions pursuant to this Agreement shall include, to the extent permitted by applicable law, taxes resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Should Borrower default in the on any payment of any Impositions, Lender may (but shall not be obligated to) pay such Impositions or any portion thereof and Borrower shall reimburse Lender on demand for all such Advancespayment(s).
Appears in 3 contracts
Samples: Construction Loan and Security Agreement (Griffin Land & Nurseries Inc), Construction Loan and Security Agreement (Griffin Land & Nurseries Inc), Construction Loan and Security Agreement (Griffin Land & Nurseries Inc)
Taxes and Impositions. (1A) Borrower shall (i) pay and discharge all Impositions prior to delinquency. Borrower shall , and (ii) provide to Lender validated receipts or such other evidence satisfactory to Lender showing the payment of all real estate and personal property taxes such Impositions within 15 thirty (30) days after the same would have otherwise have become delinquent. Borrower's ’s obligation to pay the Impositions pursuant to this Agreement shall include, to the extent permitted by applicable law, taxes resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Should Borrower default in the any payment of any Impositions, Lender may (but shall not be obligated to) pay such Impositions or any portion thereof and Borrower shall reimburse Lender on demand for all such Advancesadvances.
Appears in 1 contract
Samples: Loan Agreement (Mestek Inc)
Taxes and Impositions. (1a) Borrower shall pay and discharge all Impositions prior to delinquency. Borrower shall provide to Lender validated receipts or other evidence satisfactory to Lender showing the payment of all real estate and personal property taxes within 15 days after the same would otherwise have become delinquent. Borrower's obligation to pay Impositions pursuant to this Agreement shall include, to the extent permitted by applicable law, taxes resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Should Borrower default in the payment of any Impositions, Lender may (but shall not be obligated to) pay such Impositions or any portion thereof and Borrower shall reimburse Lender on demand for all such Advances.
Appears in 1 contract
Taxes and Impositions. (1A) Borrower shall (i) pay and discharge all Impositions prior to delinquency. Borrower shall , and (ii) if requested by Lender, provide to Lender validated receipts or such other evidence satisfactory to Lender showing the payment of all real estate and personal property taxes such Impositions within 15 thirty (30) days after the same would have otherwise have become delinquent. Borrower's ’s obligation to pay the Impositions pursuant to this Agreement shall include, to the extent permitted by applicable law, taxes resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Should Borrower default in the any payment of any Impositions, Lender may (but shall not be obligated to) pay such Impositions or any portion thereof and Borrower shall reimburse Lender on demand for all such Advances.
Appears in 1 contract
Samples: Loan and Security Agreement (Smith & Wesson Holding Corp)