Mechanics' and Other Liens. Except as otherwise may be provided by the Loan Agreement, Mortgagor shall not permit or suffer any mechanic's, laborer's, materialman's, statutory or other lien or encumbrance (other than any lien for taxes and assessments not yet due) to be created upon or against the Mortgaged Property; provided, however, that Mortgagor may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted lien, in accordance with the terms of the Loan Agreement.
Appears in 2 contracts
Samples: Sigmatron International Inc, Sigmatron International Inc
Mechanics' and Other Liens. Except as otherwise may be provided by the Loan Credit Agreement, Mortgagor shall not permit or suffer any mechanic's, laborer's, materialman's, statutory or other lien or encumbrance (other than any lien for taxes and assessments not yet due) to be created upon or against the Mortgaged Property; provided, however, that Mortgagor may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted lien, in accordance with the terms of the Loan Credit Agreement.
Appears in 2 contracts
Samples: MGP Ingredients Inc, MGP Ingredients Inc
Mechanics' and Other Liens. Except as otherwise may be provided by the Loan Credit Agreement, Mortgagor shall not permit or suffer any mechanic's, laborer's, materialman's, statutory or other lien or encumbrance (other than any lien for taxes and assessments not yet due) to be created upon or against the Mortgaged Property; provided, however, that Mortgagor may in good faith, by appropriate proceedings, contest the validity, applicability or amount of any asserted lien, in accordance with the terms of the Loan Agreement.and
Appears in 1 contract
Samples: Security Agreement and Fixture (Daktronics Inc /Sd/)