Common use of Liens, Charges and Encumbrances Clause in Contracts

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 Default Rate from the second Business 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. 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 MortgageDeed of Trust; 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 Default Rate rate provided for in Section 2.16(c)(ii) of the Credit Agreement from the second Business Day fifth day following the date of demand for payment by Beneficiary until repaid, shall be secured by this Mortgage Deed of Trust and payable on demand.

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 FORM OF MORTGAGE 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 Default Rate rate provided for in Section 2.16(c)(ii) of the Credit Agreement from the second Business Day 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. 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 Default Rate rate provided for in Section 2.16(c)(ii) of the Credit Agreement from the second Business Day fifth day following the date of demand for payment by Beneficiary until repaid, shall be secured by this Mortgage and payable on demand.