Common use of Governmental Lien Clause in Contracts

Governmental Lien. Except as permitted by Section 9.1, if a notice of Lien, levy or assessment in excess of Ten Thousand Dollars ($10,000) in the aggregate, is filed of record with respect to any or all of Borrower's assets by the United States Government, or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or if any taxes or debts owing at any time hereafter to any one or more of such entities in excess of Ten Thousand Dollars ($10,000) in the aggregate, becomes a Lien, whether choa▇▇ ▇▇ otherwise, upon any or all of Borrower's assets and the same is not paid on or before the due date thereof.