Discharge of Encumbrances. The Lessee may, at its option, pay or discharge all or any balance owing under any Agreement for Sale or Mortgage, or of any tax, charge, lien or encumbrance of any kind or nature whatsoever which may now or hereafter exist on or against or in any way affect the said lands, in which event the Lessee shall be subrogated to the rights of the holder or holders thereof, and may in addition thereto, at its option, reimburse itself by applying on account the repayment of the amount so paid by it, the rates or other sum accruing to the Lessor under the terms of this Lease Agreement.
Discharge of Encumbrances. Seller will take all actions and do all things necessary to cause all Encumbrances other than Permitted Encumbrances on any Purchased Assets to be terminated or otherwise discharged at or prior to the Closing.
Discharge of Encumbrances. Notwithstanding any other provision in this Lease, if the Company determines that:
Discharge of Encumbrances. (a) If at the Completion Date there is noted on the title of the Land any mortgage or caveat (other than a Tenant's caveat), the Purchaser will accept a discharge or withdrawal of that mortgage or caveat, provided that such discharge of mortgage or withdrawal of caveat is executed and in registrable form and the prescribed registration fees are allowed by the Vendor to the Purchaser.
Discharge of Encumbrances. Company and each Seller will take, and Company will cause each Subsidiary to take, all actions and do all things necessary to cause all Encumbrances other than Permitted Encumbrances on any Assets to be terminated or otherwise discharged at or prior to the Closing.
Discharge of Encumbrances. Upon the occurrence of an Emera Default referred to in Section 11.1(b), Nalcor may, without obligation to do so, make payment on behalf of Emera of such monies as may be required to obtain a discharge and release of any Encumbrance, other than a Permitted Encumbrance, affecting the Maritime Link and any amount so paid by Nalcor shall bear interest at the Prime Rate plus 10% per annum from the date of advance and be payable by Emera to Nalcor on demand.
Discharge of Encumbrances. Mortgagor shall promptly discharge or cause to be discharged, at Mortgagor's cost and expense, all liens, encumbrances and charges upon the Mortgaged Property, or any part thereof or interest therein; provided, however, that Mortgagor shall have the right to contest in good faith the validity of any such lien, encumbrance or charge if Mortgagor shall first deposit with Mortgagee or with the appropriate court a bond or other security satisfactory to Mortgagee in such amount as Mortgagee shall reasonably require, but not more than one hundred fifty percent (150%) of the amount of the claim, and provided further that (a) Mortgagor shall thereafter diligently proceed to cause such lien, encumbrance or charge to be removed and discharged, (b) such proceeding shall operate to suspend collection, and (c) such amounts shall be duly paid when determined but in all events prior to any execution sale of the Mortgaged Property or any portion thereof. If Mortgagor shall fail to discharge any such lien, encumbrance or charge, then, in addition to any other right or remedy of Mortgagee, Mortgagee may, but shall not be obligated to, discharge the same, either by paying the amount claimed to be due, or by procuring the discharge of such lien by depositing in court a bond or the amount claimed or otherwise giving security for such claim, or in such manner as is or may be prescribed by law. and, in such event, all sums so paid by Mortgagee shall be included in the Obligations Secured and secured by this Mortgage in accordance with the terms of Section 5.3 below.
Discharge of Encumbrances. If any mechanic’s, laborer’s or materialman’s lien (other than a Landlord’s Lien) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 16.01, against the Premises or any part thereof or the Project Area or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, Landlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional twenty (20) days after notice by Landlord to Tenant, then, in addition to any other right or remedy, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, Landlord shall be entitled, if Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by Landlord, including all reasonable costs and expenses incurred by Landlord in connection therewith including, without limitation, reasonable attorneys’ fees and disbursements, together with interest thereon at the Involuntary Rate, from the respective dates of Landlord’s making the payment of any such amount or any such costs and expenses, shall constitute Rental and shall be paid by Tenant to Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 16.02, Tenant shall not be required to discharge any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit, a Qualifying Guaranty or a security bond or other such security reasonably satisfactory to Landlord (under an agreement providing for the application thereof reasonably satisfactory to Landlord) or to any Mortgagee that is an Institutional Lender or Depository in an amount sufficient to pay such lien with interest and penalties. 114
Discharge of Encumbrances. Except as set forth in Schedule 5.8, each Company and each Seller shall take all actions and do all things necessary to cause all Encumbrances, other than Permitted Encumbrances, on any of the Stock or the assets of any of the Companies to be terminated or otherwise discharged at or prior to the Closing.
Discharge of Encumbrances. The Grantee may, where reasonably required to protect its interests under this Agreement, pay or discharge all or any balance owing under any agreement for sale or mortgage, or of any tax, charge, lien or encumbrance of any kind or nature whatsoever which may now or hereafter exist on or against or in any way affect the Said Lands, in which event the Grantee shall be subrogated to the rights of the holder or holders thereof, and may in addition thereto, at its option, reimburse itself by applying on account the repayment of the amount so paid by it.
