Charges definition
Examples of Charges in a sentence
The Borrower will not permit the Consolidated Cash Flow/Fixed Charges Ratio, as determined quarterly as of the last day of each fiscal quarter of the Borrower (and treating such fiscal quarter as having been completed), to be less than 1.50 to 1.0.
Each Borrower shall pay, when due, all taxes, assessments and other Charges lawfully and properly levied or assessed upon such Borrower or any of the Collateral including real and personal property taxes, assessments and charges and all franchise, income, employment, social security benefits, withholding, and sales taxes.
After prior written notice to Lender, Borrower, at its own expense, may (or may cause Mortgage Borrower to) contest in accordance with the Contest Procedures the amount or validity or application in whole or in part of any Lien, Property Taxes, Hotel Taxes or Other Charges.
After prior written notice to Lender, Borrower, at its own expense, may contest in accordance with the Contest Procedures the amount or validity or application in whole or in part of any Lien, Property Taxes, Hotel Taxes or Other Charges.
If, for any reason whatsoever, the Charges paid or received on the Loans produces a rate which exceeds the Maximum Rate, the Lenders shall credit against the principal of the Loans (or, if such indebtedness shall have been paid in full, shall refund to the payor of such Charges) such portion of said Charges as shall be necessary to cause the interest paid on the Loans to produce a rate equal to the Maximum Rate.