Common use of Payment for Labor and Materials Clause in Contracts

Payment for Labor and Materials. (a) Borrower will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Property and never permit to exist in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof, except for the Permitted Exceptions (defined below).

Appears in 13 contracts

Samples: Mortgage and Security Agreement (Corporate Property Associates 15 Inc), Mortgage and Security Agreement (Corporate Property Associates 15 Inc), Trust and Security Agreement (Corporate Property Associates 15 Inc)

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Payment for Labor and Materials. (a) Borrower will shall promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials (“Labor and Material Costs”) incurred in connection with the Property and never permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof, hereof except for the Permitted Exceptions (defined below)Encumbrances.

Appears in 9 contracts

Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Payment for Labor and Materials. (a) Borrower will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials ("Labor and Material Costs") incurred in connection with the Property and never permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof, hereof except for the Permitted Exceptions (defined below)Encumbrances.

Appears in 7 contracts

Samples: Electro Scientific Industries Inc, Security Agreement (Glimcher Realty Trust), Mortgage and Security Agreement (Ventas Inc)

Payment for Labor and Materials. (a) Borrower will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials (“Labor and Material Costs”) incurred in connection with the Property and never permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof, hereof except for the Permitted Exceptions (defined below)Encumbrances.

Appears in 2 contracts

Samples: Security Agreement (Koger Equity Inc), And Security Agreement (TNP Strategic Retail Trust, Inc.)

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Payment for Labor and Materials. (a) Borrower will promptly pay or cause to be paid when due all bills and costs for labor, materials, and specifically fabricated materials (“Labor and Material Costs”) incurred in connection with the Property and never permit to exist beyond the due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other or additional lien or security interest other than the liens or security interests hereof, except for the hereof and other than Permitted Exceptions Encumbrances (defined belowherein).

Appears in 1 contract

Samples: Credit Agreement (CBL & Associates Properties Inc)

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