Prohibited Liens Sample Clauses

Prohibited Liens. The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect of goods or accounts receivable) of the Company or any of its Subsidiaries, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to remain in effect, any charge, mortgage, finance statement or other similar notice of any Lien with respect to any such property, asset, income or profits under the recording or notice statutes of any jurisdiction, except: (a) Permitted Liens; (b) (i) Liens (“Existing Liens”) existing as of the date hereof and described in Schedule 5.09 annexed hereto and (ii) Liens (“Replacement Existing Liens”) on the same assets in replacement of Existing Liens or of other Replacement Existing Liens; provided that to the extent any Existing Lien or Replacement Existing Lien secures any greater amount of Indebtedness than the related respective amount thereof set forth on Schedule 5.09, the amount of Indebtedness secured by such Lien in excess of such related respective amount set forth on Schedule 5.09 shall not be permitted by this Section 5.09(d) but only by Section 5.09(g); (c) Liens created or incurred after the date hereof by the Company or any of its Subsidiaries on assets useful and intended to be used in carrying on the business of the Company and its Subsidiaries, securing the purchase price, or cost of construction or improvement, thereof; provided, however, that (i) the Liens shall attach solely to assets purchased or constructed (and proceeds thereof), (ii) the Liens shall be created within twelve months of the date of the acquisition, purchase, construction or improvement of the assets to which the Liens attached, and (iii) at the time of acquisition, purchase, construction or improvement of such assets, the unpaid principal amount of all Indebtedness secured by such Liens on such assets (whether or not assumed by the Company or a Subsidiary) shall not exceed an amount equal to the lesser of (A) the purchase price, or the cost of construction or improvement, of such assets incurred by the Company or any of its Subsidiaries and (B) the fair market value of such assets at the time of acquisition, purchase, construction or improvement of such assets (as determined in good faith by the Board of Directors of the Company); a...

Prohibited Liens. (a) Grantor shall not permit any governmental or statutory liens (including tax, mechanic's or materialmen's liens) to be filed against the Property except for real estate taxes and assessments not yet delinquent by non-payment and liens permitted by the Loan Documents or approved by Beneficiary in writing. Grantor will pay, from time to time when the same shall become due, all lawful claims and demands of mechanics, materialmen, laborers, and others which, if unpaid, might result in, or permit the creation of, a lien on the Property or any part thereof, and in general will do or cause to be done everything necessary so that the lien and effect hereof shall be fully preserved, at the cost of Grantor and without expense to Trustee or Beneficiary. (b) Grantor will have the right to contest in good faith by an appropriate legal or administrative proceeding the validity of any prohibited lien, encumbrance or charge so long as (i) no default exists under the Loan Documents, (ii) Grantor first deposits with Beneficiary a bond or other security satisfactory to Beneficiary in the amount reasonably required by Beneficiary, but not more than one and one--half (1 1/2) (i.e., 150%) of the amount of the claim; (iii) Grantor immediately commences its contest of such lien, provided, however, that within twenty (20) days after the filing of such lien Grantor discharges said lien of record or records a bond which complies with the requirements of RCW 60.04.161 eliminating such lien as an encumbrance on the Property, and continuously pursues the contest in good faith and with due diligence; (iv) foreclosure of the lien, encumbrance or charge is stayed; and (

Prohibited Liens. If the Operator fails to cause any Prohibited Lien to be released within thirty (30) days after Notice from the County of such lien.

Prohibited Liens. Except as otherwise provided in this Agreement, Licensee/Tenant shall not allow, suffer or permit any liens, claims or encumbrances to attach to or against by reason of the installation of any of Licensee/Tenant's Equipment or construction of Leasehold Improvements, Sears premises in which the Concession is located. In the event any lien, claim or encumbrance attaches to Sears premises, Licensee/Tenant shall immediately take all necessary action to cause such lien, claim or encumbrance to be released and discharged, or Sears, at its option, may take such action and charge Licensee/Tenant or withhold from sales receipts all expenses, including attorneys fees, incurred by Sears in removing such liens. CUSTOMER ADJUSTMENT

Prohibited Liens. Until Discharge of the Credit Agreement, no Guarantor will demand, accept or hold any Lien upon any property of Holdings, the Borrower or any Subsidiary of the Borrower as security for any of the Subordinated Liabilities, and any such Lien shall be void.

Prohibited Liens. DRAYMAN is strictly prohibited from imposing liens or holding freight hostage. Should DRAYMAN attempt such action, BROKER shall have the right to notify their customer base of DRAYMAN’S said action.

Prohibited Liens. If a party fails to comply with any obligation regarding Prohibited Liens and does not remedy such failure within 15 days after Notice from the non-obligated party.

Prohibited Liens. If Lessee fails to comply with any obligation regarding Prohibited Liens and does not begin to remedy such failure within fifteen (15) days after Notice from Lessor and, thereafter, diligently pursue such remedy to completion.

Prohibited Liens. If Lessee fails to comply with any obligation regarding liens and does not remedy such failure within 30 days after notice from City.