Common use of Taxes, Assessments and Liens Clause in Contracts

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 3 contracts

Samples: Security Agreement (World Wide Stone Corp), Loan Agreement (Carrier Access Corp), Loan Agreement (Carrier Access Corp)

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Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments assessments, and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized in Lender's ’s sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond bond, or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees attorneys fees, or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 2 contracts

Samples: Security Agreement (Mesa Energy Holdings, Inc.), Security Agreement (Armada Oil, Inc.)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies liens upon the Collateral and provide Lender evidence of such payment upon its requestthis Agreement. Grantor may withhold any such payment or may elect to contest any lien if Stock Pledge (Xxxxxxx Trust) Loan No. 68890396 Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized in Lender's ’s sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen thirty (1530) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any such contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Stock Pledge Agreement (Solar Power, Inc.)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest Lendxx'x xnterest in the Collateral is not jeopardized in Lender's sole Lendxx'x xole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and Lendxx xxx shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as Lendxx xx an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Promissory Note (Trizetto Group Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is Is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee obligor under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Commercial Security Agreement (Unified Holdings Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized in Lender's ’s sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Commercial Security Agreement (Tufco Technologies Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies liens upon the Collateral and provide Lender evidence Collateral, its use or operation, upon this Agreement, upon the Note, or upon any of such payment upon its requestthe other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's Xxxxxx’s interest in the Collateral is not jeopardized in Lender's Xxxxxx’s sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees costs or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender Xxxxxx and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee oblige under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Aircraft Security Agreement (Skyway Communications Holding Corp)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies liens upon the Collateral and provide Lender evidence Collateral, its use or operation, upon this Agreement, upon the note, or upon any of such payment upon its requestthe other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as LenderXxxxxx's interest in n the Collateral is not jeopardized in LenderXxxxxx's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees costs or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender Xxxxxx and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender Xxxxxx as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Aircraft Security Agreement (Energy Exploration Technologies /)

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Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments assessments, and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond bond, or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees attorneys fees, or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.. 67232.2 [August 9, 2001]

Appears in 1 contract

Samples: Commercial Security Agreement (United Heritage Corp)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments assessments, and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond bond, or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees attorneys fees, or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Commercial Security Agreement (United Heritage Corp)

Taxes, Assessments and Liens. The Grantor will pay when due all taxes, assessments and governmental charges or levies liens upon the Collateral and provide Lender evidence of such payment Collateral, its use or operation, upon its requestthis Security Agreement. The Grantor may withhold any such payment or may elect to contest any lien if the Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's Lenders' interest in the Collateral is not jeopardized in Lender's Lenders' sole opinion. If any of the Collateral is subjected to a lien which is not discharged within fifteen thirty (1530) days, the Grantor shall deposit with Lender Lenders cash, a sufficient corporate surety bond or other security satisfactory to Lender Lenders (in their discretion) in an amount adequate to provide for the discharge of the lien plus any interest, reasonable costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest the Grantor shall defend itself themselves and Lender Lenders and shall satisfy any final adverse judgment before enforcement against the Collateral. The Grantor shall name Lender Lenders as an additional obligee under any surety bond furnished in the such contest proceedings.

Appears in 1 contract

Samples: Security Agreement (Zymetx Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies liens upon the Collateral and provide Lender evidence of such payment Collateral, its use or operation, upon its requestthis Agreement, or upon the Loan Documents to the extent applicable to the Aircraft. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as LenderXxxxxx's interest in the Collateral is not jeopardized in LenderXxxxxx's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees costs or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender Xxxxxx and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender Xxxxxx as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Aircraft Security Agreement (Air T Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and governmental charges or levies upon the Collateral and provide Lender evidence of such payment upon its request. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, reasonable attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

Appears in 1 contract

Samples: Security Agreement (Gentner Communications Corp)

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