NO ADDITIONAL LIENS ON FIXTURES Sample Clauses

NO ADDITIONAL LIENS ON FIXTURES. The Mortgagor shall not remove or suffer to be removed from the Mortgaged Property any Fixtures owned by the Mortgagor or in the future to be incorporated into, installed in, annexed or affixed to the Mortgaged Property (unless such Fixtures have been replaced with similar Fixtures of equal or greater utility and value); nor will the Mortgagor execute or cause to be executed any security interest upon any such Fixtures, additions to, substitutions or replacements thereof, or upon any Fixtures in the future to be installed in, annexed or affixed to the Mortgaged Property.
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NO ADDITIONAL LIENS ON FIXTURES. The Mortgagor shall not remove or suffer to be removed from the Mortgaged Premises any material fixtures owned by the Mortgagor (as the term “fixtures” is defined by the Uniform Commercial Code in the State of New Jersey, as amended and/or modified from time to time) presently or in the future to be incorporated into, installed in, annexed, or affixed to the Mortgaged Premises (unless such material fixtures have been replaced with similar fixtures of equal or greater utility or value); nor shall the Mortgagor execute or cause to be executed any security interest upon any such fixtures, additions to, substitutions, or replacements thereof, or upon any fixtures in the future to be installed in, annexed or affixed to the Mortgaged Premises, without the prior express written consent of the Mortgagee.
Sample 1
NO ADDITIONAL LIENS ON FIXTURES. Except as may be permitted in the LSA, the Mortgagor shall not remove or suffer to be removed from the Mortgaged Premises any fixtures (the term "fixtures" is defined by the law in New Jersey) presently or in the future owned by the Mortgagor (unless such fixtures have been replaced with similar fixtures of equal or greater utility and value); nor will the Mortgagor execute any security interest upon any such fixtures, without the prior express written consent of the Mortgagee.
Sample 1
NO ADDITIONAL LIENS ON FIXTURES. The Mortgagor shall not remove or suffer to be removed from the Premises any fixtures owned by the Mortgagor as the term "fixtures" is defined by the law in New York presently, or in the future to be incorporated into, installed in, annexed or affixed to the Premises (unless such fixtures have been replaced with similar fixtures of equal or greater utility and value) ; nor will the Mortgagor execute or cause to be executed any security interest upon any such fixtures, additions to, substitutions or replacements thereof, or upon any f ixtures in the future to be installed in, annexed or affixed to the Premises, without the prior express written consent of the Mortgagee.
Sample 1

Related to NO ADDITIONAL LIENS ON FIXTURES

  • No New Liens The parties hereto agree that, so long as the Discharge of Senior Obligations has not occurred, (a) none of the Grantors shall grant or permit any additional Liens on any asset or property of any Grantor to secure any Second Priority Debt Obligation unless it has granted, or concurrently therewith grants, a Lien on such asset or property of such Grantor to secure the Senior Obligations; and (b) if any Second Priority Representative or any Second Priority Debt Party shall hold any Lien on any assets or property of any Grantor securing any Second Priority Obligations that are not also subject to the first-priority Liens securing all Senior Obligations under the Senior Collateral Documents, such Second Priority Representative or Second Priority Debt Party (i) shall notify the Designated Senior Representative promptly upon becoming aware thereof and, unless such Grantor shall promptly grant a similar Lien on such assets or property to each Senior Representative as security for the Senior Obligations, shall assign such Lien to the Designated Senior Representative as security for all Senior Obligations for the benefit of the Senior Secured Parties (but may retain a junior lien on such assets or property subject to the terms hereof) and (ii) until such assignment or such grant of a similar Lien to each Senior Representative, shall be deemed to hold and have held such Lien for the benefit of each Senior Representative and the other Senior Secured Parties as security for the Senior Obligations.

  • Other Liens Not to create, assume, or allow any security interest or lien (including judicial liens) on property the Borrower now or later owns, except:

  • Valid Liens Each Collateral Document delivered pursuant to Sections 4.02, 6.11 and 6.13 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Agent for the benefit of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, the Collateral described therein to the extent intended to be created thereby and (i) when financing statements and other filings in appropriate form are filed in the offices specified on Schedule 4 to the Perfection Certificate and (ii) upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent possession or control by the Collateral Agent is required by the Security Agreement), the Liens created by the Collateral Documents shall constitute fully perfected Liens on, and security interests in (to the extent intended to be created thereby), all right, title and interest of the grantors in such Collateral to the extent perfection can be obtained by filing financing statements, in each case subject to no Liens other than Liens permitted hereunder.

  • Mechanic’s Liens (a) Except for liens created through the act of Landlord, Tenant shall not suffer or permit any mechanic’s lien or other lien to be filed or recorded against the Premises, equipment or materials supplied or claimed to have been supplied to the Premises at the request of Tenant, or anyone holding the Premises, or any portion thereof, through or under Tenant. If any such mechanic’s lien or other lien shall at any time be filed or recorded against the Premises, or any portion thereof, Tenant shall cause the same to be discharged of record within fifteen (15) days after the date of filing or recording of the same. However, in the event Tenant desires to contest the validity of any lien it shall (i) on or before fifteen (15) days prior to the due date thereof (but in no event later than thirty (30) days after the filing or recording thereof), notify Landlord, in writing, that Tenant intends to so contest same; (ii) on or before the due date thereof, if such lien involves an amount in excess of $50,000 or if any Mortgagee so requires, deposit with Landlord security (in form and content reasonably satisfactory to Landlord or Mortgagee) for the payment of the full amount of such lien, and from time to time deposit additional security so that, at all times, adequate security will be available for the payment of the full amount of the lien together with all interest, penalties, costs and other charges in respect thereof. If Tenant complies with the foregoing, and Tenant continues, in good faith, to contest the validity of such lien by appropriate legal proceedings which shall operate to prevent the collection thereof and the sale or forfeiture of the Premises, or any part thereof, to satisfy the same, Tenant shall be under no obligation to pay such lien until such time as the same has been decreed, by court order, to be a valid lien on the Premises. The deposit held by the Landlord may be used to discharge the lien and any surplus deposit retained by Landlord, after the payment of the lien shall be repaid to Tenant. Provided that nonpayment of such lien does not cause Landlord to be in violation of any of its contractual undertakings, Landlord agrees not to pay such lien during the period of Tenant’s contest. However, if Landlord pays for the discharge of a lien or any part thereof from funds of Landlord, any amount paid by Landlord, together with all costs, fees and expenses in connection therewith (including attorney’s fees of Landlord plus an administration fee equal to three percent (3%) of such costs and expenses), shall be repaid by Tenant to Landlord on demand by Landlord, together with interest thereon at the Overdue Rate. Tenant shall indemnify and defend Landlord against and save Landlord and the Premises, and any portion thereof, harmless from and against all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including attorney’s fees, to the extent resulting from the assertion, filing, foreclosure or other legal proceedings with respect to any such mechanic’s lien or other lien (other than any liens resulting solely from the acts of Landlord, unless taken with the consent of Tenant or as a result of a default by Tenant under this Lease) or the attempt by Tenant to discharge same as above provided. No such contest may be prosecuted if it could subject Landlord to any civil liability or the risk of any criminal liability or otherwise adversely affect Landlord, the Premises or the Campus.

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