Common use of Governmental Lien Clause in Contracts

Governmental Lien. A notice of lien, levy or assessment in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, is filed of record with respect to any or all of Borrower’s or the General Partner’s assets by the United States Government, or any department, agency or instrumentality thereof, or by any other public authority, or if any taxes or debts owing at any time hereafter to any one or more of such entities in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, becomes a lien, whether xxxxxx, inchoate or otherwise, upon any or all of Borrower’s or the General Partner’s assets, and the same is not paid or otherwise released within forty-five (45) days of the filing thereof; or

Governmental Lien. A notice of lien, levy or assessment in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, is filed of record with respect to any or all of Borrower’s or the General Partner’s 's assets by the United States Government, or any department, agency or instrumentality thereof, or by any other public authority, or if any taxes or debts owing at any time hereafter to any one or more of such entities in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, becomes a lien, whether xxxxxx, inchoate or otherwise, upon any or all of Borrower’s or the General Partner’s 's assets, and the same is not paid paid, or otherwise released within forty-five (45) days of the filing thereof; or

Governmental Lien. A notice of lien, levy or assessment in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, is filed of record with respect to any or all of Borrower’s or the General Partner’s assets by the United States Government, or any department, agency or instrumentality thereof, or by any other public authority, or if any taxes or debts owing at any time hereafter to any one or more of such entities in excess of Fifty Thousand Dollars ($50,000.00) in the aggregate, becomes a lien, whether xxxxxx, inchoate or otherwise, upon any or all of Borrower’s or the General Partner’s assets, and the same is not paid or otherwise released within forty-five (45) days of the filing thereof; orfive