Lien Representation Sample Clauses

A Lien Representation clause serves to affirm that the party making the representation has not granted any liens or encumbrances on the subject property or assets, except as specifically disclosed. In practice, this means the party assures the other side that the property being transferred, sold, or used as collateral is free from undisclosed third-party claims or security interests. This clause is essential for protecting the receiving party from unexpected liabilities and ensuring that the property or asset is transferred with clear title, thereby reducing the risk of future disputes over ownership or creditor claims.
Lien Representation. The Governmental Agency has disclosed the Source of Repayment is free and clear of any pledge, lien, charge, or encumbrance thereon, or with respect thereto, that is of equal rank with the obligation of the Governmental Agency Bond.
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Lien Representation. The Pledged Property is free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto which is superior to the lien of this Loan Agreement and the Governmental Agency Bond on the Pledged Property, and all corporate or other action on the part of the Governmental Agency to that end has been and will be duly and validly taken. As of the date of this Loan Agreement there are no outstanding bonds, notes or evidences of indebtedness or contractual obligations secured by a lien on the Pledged Property which are on a parity with the lien of the Loan Agreement and Governmental Agency Bond. Except as permitted by Exhibit F hereto, the Governmental Agency shall not issue any bonds or other evidences of indebtedness of a similar nature secured by a pledge, lien or assignment on the Pledged Property or create a lien or charge thereon.
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Lien Representation. The Pledged Property is free and clear of any pledge, lien, charge or encumbrance thereon or with respect thereto which is superior to the lien of this Loan Agreement and the Governmental Agency Bond on the Pledged Property, and all corporate or other action on the part of the Governmental Agency to that end has been and will be duly and validly taken. As of the date of this Loan Agreement there are outstanding no bonds, notes or evidences of indebtedness or contractual obligations secured by a lien on the Pledged Property which are on a parity with the lien of the Loan Agreement and Governmental Agency Bond, except for the amounts due pursuant to the [TO COME IF APPLICABLE]. Except as permitted by Exhibit F hereto, the Governmental Agency shall not issue any bonds or other evidences of indebtedness of a similar nature secured by a pledge, lien or assignment on the Pledged Property or create a lien or charge thereon.
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Lien Representation. The Governmental Agency has disclosed the following bonds, notes or other evidence of indebtedness of the Governmental Agency issued, or contractual obligations incurred, having a lien on the Source of Repayment of equal rank with the lien and charge on the Source of Repayment of the Governmental Agency Bond: Loan Contracts with the Department of Local Affairs of the State including (i) a 2009 loan in the principal sum of $25,000, identified as EIAF# 06657A, providing for annual payments in the amount of $2,022.78 through September 1, 2029; (ii) a 2007 loan in the principal sum of $116,000, identified as EIAF# 05525, providing for annual payments in the amount of $9,230.57 through September 1, 2026; and (iii) a 2002 loan in the principal sum of $38,500, identified as EIAF# 04282, providing for annual payments in the amount of $3,089.34 through September 1, 2022 (the “Parity Lien Obligations”). The Source of Repayment is free and clear of any pledge, lien, charge, or encumbrance thereon, or with respect thereto, other than that of the Parity Lien Obligations, that is of equal rank with the obligation of the Governmental Agency Bond. Further, the Source of Repayment is free and clear of any pledge, lien, charge, or encumbrance thereon, or with respect thereto, that is prior to the obligation of the Governmental Agency Bond.
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Related to Lien Representation

  • UNION REPRESENTATION 3.01 For the purpose of representation with the Employer, the Union shall function and be recognized as follows: a. The Union may appoint up to two (2) stewards. Stewards are representatives of the employees in certain matters pertaining to this Agreement, including the processing of grievances. b. Union Representatives are representatives of the employees in all matters pertaining to this Agreement, particularly for the purpose of processing grievances, negotiating amendments to and renewals of this Agreement and enforcing the employees' collective bargaining rights as well as any rights under this Agreement and under the law. 3.02 The Union agrees to notify the Employer in writing of the names of its stewards and the effective dates of their appointments. The Employer shall not be required to recognize a ▇▇▇▇▇▇▇ until such notice is received. 3.03 Stewards will not absent themselves from their work to deal with grievances without first obtaining permission from the Employer. Permission will not be withheld unreasonably. Stewards that are absent from work to attend a grievance arbitration, mediation, or any other proceeding that arises from the administration or enforcement of this Agreement will not receive their regular hourly rate. 3.04 The Employer may meet periodically with the employees for the purpose of discussing any matters of mutual interest or concern to the Employer, the Union and the employees. A Union Representative may attend such meetings. 3.05 There shall be no Union activity at any time on the Employer's premises, or in connection with the Employer’s business operations, except that which is necessary for the processing of grievances and the administration and enforcement of this Agreement. 3.06 Union Representatives shall have the right to periodically visit job sites without disrupting productivity and without unreasonable intrusion into the Employer or its clients’ premises. The Union’s Representative shall report to the site superintendent, or ▇▇▇▇▇▇▇ upon arriving at a worksite, and shall abide by all necessary protocol as determined by the general contractor, the Employer, or the client.