Tax Lien Sample Clauses
A Tax Lien clause establishes the rights and obligations of parties regarding any government-imposed claims on a property due to unpaid taxes. Typically, this clause clarifies whether the seller must resolve outstanding tax liens before transferring ownership, or if the buyer will assume responsibility for them. For example, it may require the seller to pay off all property tax debts prior to closing, ensuring the buyer receives clear title. The core function of this clause is to protect the buyer from inheriting tax-related encumbrances and to ensure the property can be transferred free of government claims.
Tax Lien. In the event of a default, if ▇▇▇▇▇▇▇▇▇ fails to pay the Excise Tax or remedy any deficiencies within sixty (60) days of receipt of a written notice by the City of the default, in the City's sole discretion, Developer, by execution of this Agreement, agrees to the imposition of and that the City may file a lien against the Property in an amount up to the amount of the Excise Tax set forth in Section 3. Said lien shall be subordinated to the lien of any mortgage or deed of trust.
Tax Lien. The Issuer is not aware of any judgment or tax lien filings against it.
Tax Lien. Any of the Obligors shall have a federal or state tax Lien filed against any of its properties.
Tax Lien. A federal tax lien shall be filed against the Borrower or any Subsidiary (including a Bank Subsidiary) of the Borrower under Section 6323 of the Code or a lien of the PBGC shall be filed against the Borrower or any Subsidiary (including a Bank Subsidiary) of the Borrower under Section 4068 of ERISA and in either case such lien shall remain undischarged for a period of twenty-five (25) days after the date of filing except when the amount or validity of such lien is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower.
Tax Lien. A notice of Lien, levy or assessment is filed of record with respect to all or any of Borrower’s assets by the United States, or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency.
Tax Lien. A federal tax lien shall attach against the Borrowers or any Subsidiary under Section 6323 of the Code or a lien of the PBGC shall be filed against the Borrowers or any Subsidiary under Section 4068 of ERISA in an amount that would have, in the reasonable judgment of the Lenders, a Material Adverse Effect and in either case such lien shall remain undischarged for a period of 60 days after the attachment or filing, as the case may be.
Tax Lien. It will cause to be provided to the Administrative Agent (and the Administrative Agent shall promptly distribute the same to the Facility Agents) promptly and in any event within five Business Days after obtaining knowledge of the arising or existence of any tax Lien which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect;
Tax Lien. A notice of lien, levy or assessment is filed of record with respect to all or any of Borrower's, Parent's or any Affiliate's assets by the United States, or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, including, without limitation, the PBGC, which in the opinion of the Agent, adversely affects the priority of the liens and security interests granted to the Agent hereunder or under the other Loan Documents.
Tax Lien. The filing, recording or assessment of any federal, state, local or foreign tax lien against the Trust Estate or the Issuer;
Tax Lien. Borrower or Pledgor shall have a federal or state tax lien filed against any of its properties.