Common use of Effect of Changes in Laws Regarding Taxation Clause in Contracts

Effect of Changes in Laws Regarding Taxation. If any law is enacted after the date hereof requiring (a) the deduction of any lien on the Premises from the value thereof for the purpose of taxation or (b) the imposition upon Mortgagee of the payment of the whole or any part of the Taxes, charges or liens herein required to be paid by Mortgagor, or (c) a change in the method of taxation of mortgages, deeds of trust, or debts secured by mortgages or deeds of trust or Mortgagee’s interest in the Premises, or the manner of collection of taxes, so as to affect this Mortgage or the Indebtedness or the holders thereof, then Mortgagor, upon demand by Mortgagee, shall pay such Taxes or charges, or reimburse Mortgagee therefor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee it is or may be unlawful to require Mortgagor to make such payment or the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law, then Mortgagee may declare the portion of the Indebtedness allocated by Lender to the Premises to be due and payable within one hundred eighty (180) days; provided Mortgagor shall not be liable for Make Whole Costs in connection with such payment.

Effect of Changes in Laws Regarding Taxation. If In the event of the enactment after this date of any law is enacted after of the date hereof requiring (a) the deduction of any lien on state in which the Premises are located deducting from the value thereof of the Premises for the purpose of taxation any lien thereon, or (b) imposing upon the imposition upon Mortgagee of the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by Mortgagor, or (c) a change changing in any way the method of laws relating to the taxation of mortgagesmortgages [MORTGAGE, deeds of trustSECURITY AGREEMENT, FINANCING STATEMENT AND FIXTURE FILING] ING No. 27449 or debts secured by mortgages or deeds of trust or Mortgagee’s 's interest in the Premises, or the manner of collection of taxes, so as to affect this Mortgage or the Indebtedness debt secured hereby or the holders thereof, then then, and in any such event, Mortgagor, upon demand by Mortgagee, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee therefortherefor if Mortgagee pays such taxes and submits proof of payment to Mortgagor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee Mortgagee: (a) it is or may might be unlawful to require Mortgagor to make such payment payment, or (b) the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law; then and in such event, then Mortgagee may elect, by notice in writing given to Mortgagor, to declare the portion all of the Indebtedness allocated by Lender to the Premises to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor shall not be liable for Make Whole Costs days from the giving of such notice, without the applicable Prepayment Premium (as defined in connection with such paymentthe Note).

Effect of Changes in Laws Regarding Taxation. If In the event of the enactment after this date of any law is enacted after of the date hereof requiring (a) the deduction of any lien on state in which the Premises are located deducting from the value thereof of the Premises for the purpose of taxation any lien thereon, or (b) imposing upon the imposition upon Mortgagee of the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by Mortgagor, or (c) a change changing in any way the method of laws relating to the taxation of mortgages, /deeds of trust, /deeds to secure debt or debts secured by mortgages or mortgages/deeds of trust trust/deeds to secure debt or Mortgagee’s interest in the Premises, or the manner of collection of taxes, so as to affect this Mortgage or the Indebtedness debt secured hereby or the holders thereof, then then, and in any such event, Mortgagor, upon demand by Mortgagee, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee therefortherefor if Mortgagee pays such taxes and submits proof of payment to Mortgagor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee Mortgagee: (i) it is or may might be unlawful to require Mortgagor to make such payment payment, or (ii) the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law; then and in such event, then Mortgagee may elect, by notice in writing given to Mortgagor, to declare the portion all of the Indebtedness allocated by Lender to the Premises Guaranteed Obligations to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor shall not be liable for Make Whole Costs in connection with days from the giving of such paymentnotice, without the applicable Prepayment Premium.

Effect of Changes in Laws Regarding Taxation. If In the event of the enactment after this date of any law is enacted after of the date hereof requiring (a) the deduction of any lien on state in which the Premises are located deducting from the value thereof of the Premises for the purpose of taxation any lien thereon, or (b) imposing upon the imposition upon Mortgagee of the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by Mortgagor, or (c) a change changing in any way the method of laws relating to the taxation of mortgages, /deeds of trust, /deeds to secure debt or debts secured by mortgages or mortgages/deeds of trust trust/deeds to secure debt or Mortgagee’s interest in the Premises, or the manner of collection of taxes, so as to affect this Mortgage or the Indebtedness debt secured hereby or the holders thereof, then then, and in any such event, Mortgagor, upon demand by Mortgagee, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee therefortherefor if Mortgagee pays such taxes and submits proof of payment to Mortgagor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee Mortgagee: (i) it is or may might be unlawful to require Mortgagor to make such payment payment, or (ii) the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law; then and in such event, then Mortgagee may elect, by notice in writing given to Mortgagor, to declare the portion all of the Indebtedness allocated by Lender to the Premises to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor shall not be liable for Make Whole Costs in connection with days from the giving of such paymentnotice, without the applicable Prepayment Premium.

Effect of Changes in Laws Regarding Taxation. If In the event of the enactment after this date of any law is enacted after of the date hereof requiring (a) the deduction of any lien on state in which the Premises from are located imposing upon the value thereof for the purpose of taxation or (b) the imposition upon Mortgagee of the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by Mortgagor, or (c) a change changing in any way the method of laws relating to the taxation of mortgages, deeds of trust, mortgages or debts secured by mortgages or deeds of trust or Mortgagee’s interest in the Premises, or the manner of collection of taxes, so as to affect this Mortgage impose any tax or other payment upon the Indebtedness or the holders thereofMortgagee, then then, and in any such event, Mortgagor, upon demand by Mortgagee, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee therefortherefor if Mortgagee pays such taxes and submits proof of payment to Mortgagor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee Mortgagee: (a) it is or may might be unlawful to require Mortgagor to make such payment payment, or (b) the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law; then and in such event, then Mortgagee may elect, by notice in writing given to Mortgagor, to declare the portion all of the Indebtedness allocated by Lender to the Premises to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor shall not be liable for Make Whole Costs days from the giving of such notice, without the applicable Prepayment Premium (as defined in connection with such paymentthe Note).

Effect of Changes in Laws Regarding Taxation. If In the event of the enactment after this date of any law of the United States or of the state in which the Property is enacted after the date hereof requiring (a) the deduction of any lien on the Premises located deducting from the value thereof of land for the purpose of the taxation of any lien thereon, or (b) imposing upon the imposition upon Mortgagee of Lender the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by MortgagorGrantor, or (c) a change in changing the method of laws relating to the taxation of mortgages, deeds of trust, trust or mortgages or debts secured by mortgages or deeds of trust or Mortgagee’s mortgages or the Lender's interest in the PremisesProperty, or the manner of collection of taxes, so as to affect materially and adversely this Mortgage Deed of Trust or the Indebtedness Lender's interest in the Mortgaged Property, or the holders debt secured hereby or the holder thereof, then Mortgagorthen, and in any event, the Grantor, upon demand by Mortgageethe Lender, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee the Lender therefor; provided, however, that Mortgagor shall not be deemed to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if in the opinion of counsel for Mortgagee the Lender (a) it is or may might be unlawful to require Mortgagor Grantor to make such payment or (b) the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law, then Mortgagee and in such event, the Lender may elect, by notice in writing given to the Grantor, to declare the portion all of the Indebtedness allocated by Lender to the Premises indebtedness secured hereby to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor days from the giving of such notice. Notwithstanding the foregoing, it is understood and agreed that Borrower shall not be liable for Make Whole Costs in connection with such payment.obligated to pay any portion of Lender's federal, state, or municipal income tax or any franchise, estate, inheritance, excess profits or similar tax levied on Lender or the obligations secured hereby. LENDER'S PERFORMANCE OF DEFAULTED ACTS

Effect of Changes in Laws Regarding Taxation. If any law is enacted In the event of the enactment after the date hereof requiring (a) the deduction of this Mortgage of any lien on law of any state in which the Premises Property is located or any political subdivision thereof deducting from the value thereof of land for the purpose of taxation any lien thereon, or (b) the imposition imposing upon Mortgagee of the payment of the whole or any part of the Taxes, taxes or assessments or charges or liens herein required to be paid by Mortgagor, or (c) a change changing in any way the method of laws relating to the taxation of mortgages, deeds of trust, mortgages or debts secured by mortgages or deeds of trust or similar instruments, or Mortgagee’s 's interest in the PremisesProperty, or the manner of collection of taxes, so as to adversely affect the lien of this Mortgage or the Indebtedness Secured Obligations or the then holders thereofthereof (each, then a "Mortgage Tax Event"), then, and in any such event, Mortgagor, upon demand by Mortgagee, shall pay such Taxes taxes or chargesassessments, or reimburse Mortgagee therefortherefore; provided, however, that Mortgagor shall not if the Mortgage Tax Event could reasonably be deemed expected to be required to pay any income or franchise taxes of Mortgagee. Notwithstanding the foregoing, if have a Material Adverse Effect and in the opinion of counsel for Mortgagee it is or may might be unlawful to require Mortgagor to make such payment or the making of such payment might result in the imposition of interest beyond the maximum amount permitted by law, (each Mortgage Tax Event subject to such determination is hereinafter referred to as a "Nonreimbursable Mortgage Tax Event") then and in such event, Mortgagee may elect, by notice in writing given to Mortgagor, to declare the portion all of the Indebtedness allocated by Lender to the Premises Secured Obligations to be and become due and payable within one hundred eighty sixty (18060) days; provided Mortgagor days from the giving of such notice. The foregoing shall not be liable not, however, impose upon Mortgagor, the obligation to pay or reimburse Mortgagee for Make Whole Costs any tax in connection with such paymentthe nature of an income tax.