Common use of Taxes, Liens and Other Charges Clause in Contracts

Taxes, Liens and Other Charges. (a) In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds to secure debt or the manner of collecting taxes so as to materially adversely affect Lenders, Grantor will promptly pay any such tax. If Grantor fails to make such prompt payment or if, in the opinion of Grantee, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Grantor from making such payment or would penalize Lenders if Grantor makes such payment or if, in the opinion of Grantee, the making of such payment might result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire balance of the principal sum secured by this Security Deed and all interest accrued thereon shall, at the option of Grantee, become due and payable unless, within ninety (90) days thereafter, Grantor shall substitute property unaffected by such tax considerations for the Property and otherwise satisfy the conditions for release of the Property set forth in Section 5.5 of the Credit Agreement.

Taxes, Liens and Other Charges. (a) In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by deeds to secure debt or the manner of collecting taxes so as to materially adversely affect LendersBanks, Grantor Obligor will promptly pay any such tax. If Grantor Obligor fails to make such prompt payment or if, in the opinion of GranteeCollateral Agent, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Grantor Obligor from making such payment or would penalize Lenders Banks if Grantor Obligor makes such payment or if, in the opinion of GranteeCollateral Agent, the making of such payment might result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire balance of the principal sum secured by this Security Deed Instrument and all interest accrued thereon shall, at the option of GranteeCollateral Agent, become immediately due and payable unless, within ninety (90) days thereafter, Grantor unless Obligor shall substitute property unaffected by such tax considerations for the Property and otherwise satisfy the conditions for release of the Property set forth in Section 5.5 5.27 of the Credit Agreement.