Common use of Lien Claims Clause in Contracts

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics’, laborers’ or materia men’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty percent (150%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 6 contracts

Samples: Industrial Building Lease (Bway Corp), Industrial Building Lease (Bway Corp), Industrial Building Lease (Bway Corp)

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Lien Claims. Tenant shall not do If any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest lien or estate of Landlord in the Premises be in any way subject to any claim by way of lien is filed against the Project, or if a notice of intent to file such a lien is received by Lender, or if a judgment or other encumbrance is placed against the Project, at Lender's option, such event shall constitute a default under this Agreement unless Borrower obtains a release and satisfaction of such lien, claim of lien, judgment or encumbrance, whether by operation or provides Lender with a bond (or other security) acceptable to Lender in the amount of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics’, laborers’ or materia men’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty percent (150%) ), or such other amount as Lender may require in writing, of the amount of the lien or claimed lien whichlien, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination , judgment or encumbrance within twenty (20) days of written notice by Lender to Borrower of the existence of such claim, lien or claim for encumbrance; however, in lieu of posting such bond (or other security) Borrower may provide Lender with affirmative title insurance coverage from the issuer of the Title Policy, in form and content acceptable to Lender, with regards to the lien, Tenant will immediately pay any claim, judgment renderedor encumbrance. In addition, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord mayLender, at its option, use may withhold from the sums so deposited Funds such amount as may be required by applicable law, or sufficient, in Lender's opinion, to discharge pay the full amount of the lien, claim, judgment or other encumbrance, plus any such lien related interest, attorneys' fees and upon costs, whichever is greater. Lender's rights under this paragraph shall not be affected by any claim by Borrower that the satisfaction of such lien claim, lien, judgment or encumbrance Landlord is invalid, it being understood that the decision of Lender to pay or withhold shall pay all such sums remaining on deposit be made by Lender in its reasonable discretion, subject only to TenantBorrower's right to provide a bond or other security satisfactory to Lender as provided above.

Appears in 2 contracts

Samples: Construction Loan Agreement (Coeur D Alenes Co /Ia/), Construction Loan Agreement (Coeur D Alenes Co /Ia/)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title interest or estate of Landlord in and to the PremisesPremises or any portion thereof, nor shall any interest or estate of Landlord in the Premises or any portion thereof be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises or any portion thereof arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesPremises or any portion thereof. Tenant will not permit the Premises or any portion thereof to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 2 contracts

Samples: Office And (Ha Lo Industries Inc), Factory Card Outlet Corp

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the PremisesProject or any part of the Project, nor shall any interest or estate of Landlord in the Premises Project be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any . Any claim to or lien upon the Premises Project arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesProject. Tenant will not permit the Premises or any other part of the Project to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of . If any such lien or claimed lien if so attaches and Tenant shall first either fails to pay and remove the same within the earlier to occur of: (a) give to Landlord an amount equal to one hundred fifty percent twenty (150%20) of days after the amount filing of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to the date required under any mortgage encumbering the Project, then Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expenseelection, have and in addition to any other remedies available under this Lease, or pursuant to Applicable Law, may pay and satisfy the lien released same and any judgment satisfied. Should Tenant fail to diligently contest and pursue in such lien contest, Landlord may, at its option, use event the sums so deposited paid by Landlord, with interest from the date of Landlord’s payment thereof at the Delinquency Rate, shall be deemed to discharge be Additional Rent due and payable by Tenant at once without notice or demand. Tenant agrees to indemnify, hold harmless and defend (with counsel approved by Landlord) Landlord from any such loss, cost, damage or expense, including attorney’s fees, arising out of any lien and upon the satisfaction claim or out of such lien any other claim relating to work done or encumbrance Landlord shall pay all such sums remaining materials supplied at Tenant’s request or on deposit to Tenant’s behalf.

Appears in 1 contract

Samples: Lease (5.11 Abr Corp.)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty percent (150%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Industrial Building Lease (Phoenix Container, Inc.)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the PremisesPremises or the Building, nor shall any interest or estate of Landlord in the Premises or the Building be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises or the Building arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesPremises or the Building. Tenant will not permit the Premises or the Building to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord cash or other security acceptable to Landlord (which may include a bond in favor of Landlord from an agent acceptable to Landlord) in an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Neoforma Com Inc

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty percent (150%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally in insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, will at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Industrial Building Lease (Bway Corp)

Lien Claims. Tenant shall not do any act which shall ----------- in any way encumber the title of Landlord in and to the PremisesPremises or the Building, nor shall any interest or estate of Landlord in the Premises or the Building be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises or the Building arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesPremises or the Building. Tenant will not permit the Premises or the Building to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord such security as Landlord may reasonably require or an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien whichlien, which amount, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over thereof. Any such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Lease (Styrochem International Inc)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of the Landlord in and to the Premises, Property nor shall any interest or estate of Landlord in the Premises Property be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises Property arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant under this Lease and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesProperty. Tenant will not permit the Premises Property to become subject to any mechanics’, laborers’, or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (ax) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises Property by reason of non-payment thereof or thereof: (bi) provide title insurance or bond over such lien in accordance with the statutory bonding procedures (if any) in effect in the state in which the Property is located so that such lien is no longer an encumbrance against title to the Property; or (ii) cause a manner reasonably title insurance company satisfactory to Landlord to insure over such lien in favor of Landlord, any present or future Mortgagee and any prospective purchaser of the Property. The If Tenant elects to deposit such sums with Landlord, then Landlord shall hold the amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should If Tenant fail fails to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Lease Agreement (NEUROONE MEDICAL TECHNOLOGIES Corp)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of the Landlord in and to the Premises, Property nor shall any interest or estate of Landlord in the Premises Property be in any way subject to any claim by way of lien or encumbrance, whether by operation of law Law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises Property arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant under this Lease and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesProperty. Tenant will not permit the Premises Property to become subject to any mechanics', laborers', or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; providedprovider, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant tenant shall first either (a) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises Property by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The Landlord shall hold the amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should If Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Industrial Lease Agreement (Riviera Tool Co)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. , Tenant will not permit the Premises to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty percent (150%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Industrial Building Lease (Phoenix Container, Inc.)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the PremisesProject or any part of the Project, nor shall any interest or estate of Landlord in the Premises Project be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any . Any claim to or lien upon the Premises Project arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesProject. Tenant will not permit the Premises of the Project to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of . If any such lien or claimed lien if so attaches and Tenant shall first either fails to pay and remove the same within the earlier to occur of: (a) give to Landlord an amount equal to one hundred fifty percent ten (150%10) of days after the amount filing of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to the date required under any mortgage encumbering the Project, then Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expenseelection, have and in addition to any other remedies available under this Lease, or pursuant to Applicable Law, may pay and satisfy the lien released same and any judgment satisfied. Should Tenant fail to diligently contest and pursue in ​ ​ such lien contest, Landlord may, at its option, use event the sums so deposited paid by Landlord, with interest from the date of Landlord’s payment thereof at the Delinquency Rate, shall be deemed to discharge be Additional Rent due and payable by Tenant at once without notice or demand. Tenant agrees to indemnify, hold harmless and defend (with counsel reasonably approved by Landlord) Landlord from any such loss, cost, damage or expense, including attorney’s fees, arising out of any lien and upon the satisfaction claim or out of such lien any other claim relating to work done or encumbrance Landlord shall pay all such sums remaining materials supplied at Tenant’s request or on deposit to Tenant’s behalf.

Appears in 1 contract

Samples: Lease (RMG Acquisition Corp.)

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Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Lease (Specialty Equipment Companies Inc)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, diligence the validity of any such lien or claimed lien if Tenant shall first either (a) give provide to Landlord an amount equal a bond or other security or assurances reasonably satisfactory to one hundred fifty percent (150%) Landlord against the possibility of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lienPremises. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Stericycle Inc

Lien Claims. Tenant shall not do any act which shall ----------- in any way encumber the title of Landlord in and to the PremisesPremises or the Building, nor shall any interest or estate of Landlord in the Premises or the Building be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises or the Building arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesPremises or the Building. Tenant will not permit the Premises or the Building to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord a surety bond reasonably acceptable to Landlord or an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord Landlord, if applicable, shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Lease (Exodus Communications Inc)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord Chicago Title Insurance Company ("Title Company") an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Title Company for the benefit of Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord the Title Company shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, direct the Title Company to use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall direct the Title Company to pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Agreement (Nanophase Technologies Corporation)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title interest or estate of Landlord in and to the PremisesPremises or any portion thereof, nor shall any interest or estate of Landlord in the Premises or any portion thereof be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises or any portion thereof arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesPremises or any portion thereof. Tenant will not permit the Premises or any portion thereof to become subject to any mechanics’, laborers’ or materia menmaterialmen’s lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien lied or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction renewal of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Industrial Building Lease (Factory Card & Party Outlet Corp)

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, nor shall any interest or estate of Landlord in the Premises be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any claim to or lien upon the Premises arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the Premises. Tenant will not permit the Premises to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or of sufferance of Tenant; provided, however, however that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of any such lien or claimed lien if Tenant shall first either (a) give to Landlord an amount equal to one hundred fifty twenty percent (150120%) of the amount of the lien or claimed lien which, together with interest earned thereon, which amount shall be held by Landlord as security to insure payment thereof and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to Landlordthereof. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. Any funds provided by Tenant for security against said liens, will be held in an interest-bearing account with interest to the benefit of Tenant. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expense, have the lien released and any judgment satisfied. Should Tenant fail to diligently contest and pursue such lien contest, Landlord may, at its option, use the sums so deposited to discharge any such lien and upon the satisfaction of such lien or encumbrance Landlord shall pay all such sums remaining on deposit to Tenant.

Appears in 1 contract

Samples: Eagle Test Systems, Inc.

Lien Claims. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the PremisesProject or any part of the Project, nor shall any interest or estate of Landlord in the Premises Project be in any way subject to any claim by way of lien or encumbrance, whether by operation of law or by virtue of any express or implied contract by Tenant, and any . Any claim to or lien upon the Premises Project arising from any act or omission of Tenant shall accrue only against the leasehold estate of Tenant and shall in all respects be subject and subordinate to the paramount title and rights of Landlord in and to the PremisesProject. Tenant will not permit the Premises or any other part of the Project to become subject to any mechanics', laborers' or materia men’s materialmen's lien on account of labor or material furnished to Tenant or claimed to have been furnished to Tenant in connection with the work of any character performed or claimed to have been performed on the Premises by or at the direction or sufferance of Tenant; provided, however, that Tenant shall have the right to contest in good faith and with reasonable diligence, the validity of . If any such lien or claimed lien if 992596_11 13 so attaches and Tenant shall first either fails to pay and remove the same within the earlier to occur of: (a) give to Landlord an amount equal to one hundred fifty percent thirty (150%30) days after Tenant has knowledge of the amount filing of the lien (or claimed lien which, together with interest earned thereon, which amount shall be held by ten (10) days after written notice from Landlord as security to insure payment thereof if Landlord is in the process of selling or financing the Project) and to prevent any sale, foreclosure or forfeiture of the Premises by reason of non-payment thereof or (b) provide title insurance or bond over such lien in a manner reasonably satisfactory to the date required under any mortgage encumbering the Project, then Landlord. The amount so deposited with Landlord shall be held by Landlord in an account established at a federally insured banking institution until satisfactory removal of said lien or claim of lien. On any final determination of the lien or claim for lien, Tenant will immediately pay any judgment rendered, with all proper costs and charges, and will, at its own expenseelection, have and in addition to any other remedies available under this Lease, or pursuant to Applicable Law, may pay and satisfy the lien released same and any judgment satisfied. Should Tenant fail to diligently contest and pursue in such lien contest, Landlord may, at its option, use event the sums so deposited paid by Landlord, with interest from the date of Landlord's payment thereof at the Delinquency Rate, shall be deemed to discharge be Additional Rent due and payable by Tenant within fifteen (15) days after written notice from Landlord. Tenant agrees to indemnify, hold harmless and defend (with counsel approved by Landlord) Landlord from any such loss, cost, damage or expense, including attorney's fees, arising out of any lien and upon the satisfaction claim or out of such lien any other claim relating to work done or encumbrance Landlord shall pay all such sums remaining materials supplied at Tenant's request or on deposit to Tenant's behalf.

Appears in 1 contract

Samples: Lease (Dixie Group Inc)

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