Common use of Impounds Clause in Contracts

Impounds. If a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, or any other monetary obligations of Lessee under the terms of this Lease, Lessee shall pay to Lessor, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, for real property taxes and insurance expenses on the Premises, which are payable by Lessee to Lessor under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds shall be established to insure payment when due before delinquency of any and all such real property taxes and insurance premiums. If the amounts paid to Lessor by Lessee under the provisions of this Paragraph 13.5 are insufficient to discharge the obligations of Lessee to pay such real property taxes and insurance premiums as the same become due, Lessee shall pay to Lessor, upon Lessor's demand, such additional sums necessary to pay such obligations. All monies paid to Lessor under this Paragraph 13.5 may be intermingled with other monies of Lessor and shall not bear interest. In the event of a default in the obligation of Lessee to perform under this Lease, then any balance remaining from the funds paid to Lessor under the provisions of this Paragraph 13.5, may at the option of Lessor be applied to payment of any monetary default of Lessee in lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, or any other monetary obligations of Lessee under the terms of this Lease, Lessee Tenant shall pay to LessorLandlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for real property taxes tax and insurance expenses on the Premises, Premises which are payable by Lessee to Lessor Tenant under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds fund shall be established to insure payment when due due, before delinquency delinquency, of any and or all such real property taxes and insurance premiums. If the amounts paid to Lessor Landlord by Lessee Tenant under the provisions of this Paragraph 13.5 section are insufficient to discharge the obligations of Lessee Tenant to pay such real property taxes and insurance premiums as the same become due, Lessee Tenant shall pay to LessorLandlord, upon LessorLandlord's demand, such additional sums necessary to pay such obligations. All monies moneys paid to Lessor Landlord under this Paragraph 13.5 section may be intermingled with other monies moneys of Lessor Landlord and shall not bear interest. In the event of a default in the obligation obligations of Lessee Tenant to perform under this Lease, then any balance remaining reaming from the funds paid to Lessor Landlord under the provisions of this Paragraph 13.5section may, may at the option of Lessor Landlord, be applied to the payment of any monetary default of Lessee Tenant in lieu of being applied to the payment of real property tax taxes and insurance premiums.

Impounds. If a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, rent or any for three (3) consecutive installments of other monetary obligations of Lessee Tenant under the terms of this Lease, Lessee then Tenant shall pay to LessorLandlord, if Landlord shall so request and if no lender is then requiring any such impounds, in addition to any other payments required under this Lease, a monthly advance installment, installment (as estimated by Landlord) payable at the same time as the monthly rent, rents for real property taxes tax and insurance expenses on the Premises, Premises which are payable by Lessee to Lessor Tenant under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds fund shall be established to insure payment when due due, before delinquency delinquency, of any and or all such real property taxes and insurance premiums. If the amounts paid to Lessor Landlord by Lessee Tenant under the provisions of this Paragraph 13.5 paragraph are insufficient to discharge the obligations of Lessee Tenant to pay such real property taxes and insurance premiums as the same become due, Lessee then Tenant shall pay to LessorLandlord, upon LessorLandlord's demand, such additional sums necessary to pay such obligations. All monies moneys paid to Lessor Landlord under this Paragraph 13.5 paragraph may be intermingled with other monies moneys of Lessor Landlord and shall not bear interestinterest for the benefit of Tenant. In the event of a default If Tenant defaults in the obligation performance of Lessee to perform Tenant's obligations under this Lease, then any balance remaining from the funds paid to Lessor Landlord under the provisions of this Paragraph 13.5paragraph may, may at the option of Lessor Landlord, be applied to the payment of any monetary default of Lessee Tenant in lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, rent or any other monetary obligations obligation of Lessee Tenant under the terms of this Lease, Lessee Tenant shall pay to LessorLandlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for real property taxes tax and insurance expenses on the Premises, Leased Premises which are payable by Lessee to Lessor Tenant under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds fund shall be established to insure payment when due due, before delinquency delinquency, of any and or all such real property taxes and insurance premiums. If the amounts paid to Lessor Landlord by Lessee Tenant under the provisions of this Paragraph 13.5 paragraph are insufficient to discharge the obligations of Lessee Tenant to pay such real property taxes and insurance premiums as the same become due, Lessee Tenant shall pay to LessorLandlord, upon LessorLandlord's demand, such additional sums necessary to pay such obligations. All monies moneys paid to Lessor Landlord under this Paragraph 13.5 paragraph may be intermingled with other monies moneys of Lessor Landlord and shall not bear interest. In the event of a default in the obligation obligations of Lessee Tenant to perform under this Lease, then any balance remaining from the funds paid to Lessor Landlord under the provisions of this Paragraph 13.5paragraph may, may at the option of Lessor Landlord, be applied to the payment of any monetary default of Lessee in Tenant in-lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, or any other monetary obligations of Lessee under the installment terms of this Lease, Lessee Tenant shall pay to LessorLandlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as reasonably estimated by Landlord, for real property taxes tax and insurance expenses on the Premises, Premises which are payable by Lessee to Lessor Tenant under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds fund shall be established to insure payment when due due, before delinquency delinquency, of any and or all such real property taxes and insurance premiums. If the amounts paid to Lessor Landlord by Lessee Tenant under the provisions of this Paragraph 13.5 section are insufficient to discharge the obligations of Lessee Tenant to pay such real property taxes and insurance premiums as the same become due, Lessee Tenant shall pay to LessorLandlord, upon LessorLandlord's demand, such additional sums necessary to pay such obligations. All monies moneys paid to Lessor Landlord under this Paragraph 13.5 section may be intermingled with other monies moneys of Lessor Landlord and shall not bear interest. In the event of a default in the obligation obligations of Lessee Tenant to perform under this Lease, then any balance remaining from the funds paid to Lessor Landlord under the provisions of this Paragraph 13.5section may, may at the option of Lessor Landlord, be applied to the payment of any monetary default of Lessee Tenant in lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) consecutive installments of rent, within any Lease Term, or any other monetary obligations of Lessee more times under the terms of this Lease, Lessee Tenant shall pay to LessorLandlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rentRent, as estimated by Landlord, for real property taxes Real Property Tax and insurance expenses on the Premises, Premises which are payable by Lessee to Lessor Tenant under the terms of this Lease. Such monthly impound shall be an amount equal to 1/12 of the real property tax for the last taxable year, and 1/12 of the insurance premium for the preceding insurance year during which insurance premiums were paid for the insurance required to be paid for by Lessee under the terms of this Lease. Such funds fund shall be established to insure payment when due due, before delinquency delinquency, of any and or all such real property taxes Real Property Taxes and insurance premiums. If the amounts amount paid to Lessor Landlord by Lessee Tenant under the provisions of this Paragraph 13.5 paragraph are insufficient to discharge the obligations of Lessee Tenant to pay such real property taxes Real Property Taxes and insurance premiums as the same become due, Lessee Tenant shall pay to LessorLandlord, upon LessorLandlord's demand, such additional sums necessary to pay such obligations. All monies moneys paid to Lessor Landlord under this Paragraph 13.5 paragraph may -30- 32 be intermingled with other monies moneys of Lessor Landlord and shall not bear interest. In the event of a default in the obligation obligations of Lessee Tenant to perform under this Lease, then any balance remaining from the funds paid to Lessor Landlord under the provisions of this Paragraph 13.5paragraph may, may at the option of Lessor Landlord, be applied to the payment of any monetary default of Lessee Tenant in lieu of being applied to the payment of real property tax Real Property Tax and insurance premiumspremiums and Tenant shall still be liable for and pay promptly upon demand the Real Property Tax and insurance premiums required under this Lease.