Liens, Charges and Encumbrances. Mortgagor shall immediately discharge any lien on the Property which Mortgagee has not consented to in writing in accordance with the terms of Section 6.16 of the Credit Agreement.
Liens, Charges and Encumbrances. Mortgagor shall not permit any lien, charge or encumbrance on or against the Property other than those permitted under clauses (i)-(iv) of Section 6.14 of the Credit Agreement and shall immediately discharge any such unpermitted lien, charge or encumbrance on the Property promptly after written demand from the Mortgagee.
Liens, Charges and Encumbrances. Except for Permitted Encumbrances, Grantor will not suffer or permit any mechanics’ lien, voluntary or involuntary xxxx, xxxx, xxxxxxxxxxx, security interest, claim, charge, conditional sale or other title retention document to be filed or otherwise asserted against the Property (or any portion thereof), and will promptly discharge the same in case of the filing of any claims for lien or proceedings for the enforcement thereof, provided, however, that Grantor shall have the right to contest in good faith and with reasonable diligence the validity of any such lien or claim provided that Grantor posts a statutory xxxx xxxx which removes such lien from title to the Property within thirty (30) days after Grantor’s receipt of notice of the recording of such lien. If Grantor shall fail promptly either (i) to discharge any such lien, or (ii) post a statutory xxxx xxxx in the manner provided above, Beneficiary may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same, or may furnish such security or indemnity to the applicable insurance company, and any amounts so expended by Beneficiary, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute Secured Obligations secured by this Deed of Trust and the Loan Documents. In settling, compromising or discharging any claims for lien, Beneficiary shall not be required to inquire into the validity or amount of any such claim.
Liens, Charges and Encumbrances. Trustor shall promptly discharge any lien on or security interest in the Property to which Beneficiary has not consented in writing, except any Liens permitted by Section 7.3 of the Credit Agreement. Subject to any applicable rights to contest set forth in the Credit Agreement: (a) Trustor shall pay when due each obligation secured by or reducible to a lien, security interest, charge or encumbrance which now does or later may encumber or appear to encumber all or part of the Property or any interest in it, whether the lien, security interest, charge or encumbrance is or would be senior or subordinate to this Mortgage; and (b) should Trustor fail to perform its obligations under this Section 5.4, Beneficiary, at its option, shall have the right, but not the obligation, to advance funds which may be necessary to protect and preserve Beneficiary’s liens hereunder, and to discharge Trustor’s obligations under this Section 5.4, and all amounts so advanced by Beneficiary, together with interest thereon at the rate provided for in Section 2.16(c)(ii) of the Credit Agreement from the fifth day following the date of demand for payment by Beneficiary until repaid, shall be secured by this Mortgage and payable on demand.
Liens, Charges and Encumbrances. Borrower will not permit to be created or to exist in respect of the Property or any part thereof any Lien on parity with, superior to or inferior to any of the Liens of the Loan Documents, except for the Permitted Encumbrances. Upon becoming aware of the creation of any Lien on the Property, including without limitation a Lien resulting from or arising out of a breach of a Permitted Encumbrance, Borrower shall promptly (but not more than ten days after written notice of such Lien is sent to Borrower by Lender) pay or otherwise discharge all lawful claims and demands of mechanics, materialmen, laborers, realtors, brokers and others which if unpaid, might result in, or permit the creation of, a Lien, charge or encumbrance upon the Property or any part thereof, or on the Rents, arising therefrom. Notwithstanding the foregoing and provided no Event of Default has occurred and is continuing (unless otherwise approved by Lender), Borrower may contest, at no expense to Lender, by appropriate legal proceedings promptly initiated and conducted with due diligence, in accordance with all applicable statutes, laws, and ordinances, mechanics’, materialmen’s and other such liens filed against the Property in accordance with the terms hereof. Borrower shall give Notice to Lender of its intent to bring such action and, unless Borrower has furnished (or caused to be furnished) such security as may be required in the proceeding, Lender may, in Xxxxxx’s discretion, require Borrower to either: (i) post a bond or other collateral satisfactory to Lender (and acceptable to the title company insuring the Security Instrument to insure over any Lien described in this Section 5.9); or (ii) provide Lender with a cash deposit in an amount necessary to pay any and all costs associated with having the Lien released, which deposit may be used by Lender to satisfy any Lien described in this Section 5.9 (in the event Borrower is unsuccessful contesting such Lien) within a period of ten days after written notice is sent to Borrower requiring the posting of the bond or other collateral. Upon a final, non-appealable adverse determination of such Lien, Borrower shall have a period of ten (10) Business Days to pay all amounts secured by such Lien and provide Lender with evidence such Lien has been released.
Liens, Charges and Encumbrances. Law Debenture shall not create any liens, charges or encumbrances or other third party rights over or in respect of the Existing Preference Shares which NatWest is required to repurchase pursuant to Clause 2.
Liens, Charges and Encumbrances. If any claim of lien is filed or recorded, or any stop notice or other notice of lien is served upon Mortgagee, in connection with any lot or other portion of the Property, or if a judgment or other encumbrance is placed against any such property, it shall constitute an Event of Default unless within sixty (60) days of written notice by Mortgagee to Mortgagor of the existence of such claim, lien, or encumbrance: (i) pays the related judgment or claim and obtains the release and satisfaction of such lien, claim of lien, judgment, or encumbrance, (ii) obtains the release of such lien, judgment, or other encumbrance by recording and/or serving a surety bond in accordance with applicable law, (iii) provides Mortgagee with a bond or such other security or assurance as Mortgagee, in its reasonable discretion, may require, in an amount equal to at least 150% of the amount of the lien, claim of lien, judgment or other encumbrance, to ensure payment of the lien, claim of lien, judgment or encumbrance or otherwise protect Mortgagee and the Property or (iv) provides Mortgagee with a title insurance endorsement acceptable to Mortgagee that provides coverage for such lien.
Liens, Charges and Encumbrances. Grantor shall immediately discharge any lien on the Property other than Permitted Encumbrances, which Beneficiary has not consented to in writing. Grantor must pay when due each obligation secured by or reducible to a lien, charge or encumbrance which now does or later may encumber or appear to encumber all or part of the Property or any interest in it, whether the lien, charge or encumbrance is or would be senior or subordinate to this deed of trust. “Permitted Encumbrances” shall mean those exceptions to Lender’s policy of title insurance covering this deed of trust that Lender deems acceptable in its sole discretion.
Liens, Charges and Encumbrances. Grantor shall immediately discharge any lien on the Property which Beneficiary has not consented to in writing in accordance with the terms of Section 6.16 of the Credit Agreement.
Liens, Charges and Encumbrances. Trustor shall immediately ------------------------------- discharge any Lien on the Property which Beneficiary has not consented to in writing, except Permitted Encumbrances and Permitted Rights of Others. Trustor shall pay when due each obligation secured by or reducible to a Lien, charge or encumbrance which now does or later may encumber or appear to encumber all or part of the Property or any interest in it, whether the Lien, charge or encumbrance is or would be senior or subordinate to this Deed of Trust, except any Permitted Encumbrances and Permitted Rights of Others. This Section 5.4 is --- subject to Trustor's right, granted in the Loan Agreement, to contest in good faith claims and liens for labor done and materials and services furnished in connection with construction of the Improvements and the right of Trustor to contest Liens by appropriate proceedings diligently pursued provided Trustor has established and maintained reserves therefor which are reasonably acceptable to the Administrative Agent.
