Example ContractsClausesCreation of Liens
Creation of Liens
Creation of Liens contract clause examples

Creation of Liens. Create or suffer to exist any Lien or transfer upon or against any of its property or assets now owned or hereafter created or acquired, except Permitted Encumbrances.

Creation. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC and PPSA) in the Receivables included in the Receivables Pool in favor of the Administrator (for the benefit of the Lenders), which security interest is prior to all other Adverse Claims other than any Adverse Claim in favor of an Obligor on a Receivable that represents amounts billed to such Obligor for service to be provided during the immediate subsequent billing period, and is enforceable as such as against creditors of and Lenders from each Borrower.

Creation. Licensee will create and develop Promotional Materials and Educational Materials and Activities for the Territory in accordance with the Commercialization Plan, the Regulatory Approvals and applicable Laws. To the extent Licensee includes the name or trademarks of Acorda or its licensors, other licensees or manufacturers in the Promotional Materials and/or Educational Materials and Activities, Licensee shall comply with Acorda’s or its licensor’s, licensee’s or manufacturer’s then-current guidelines for trademark usage, a copy of which shall be provided to Licensee from time to time.

Creation of Liabilities, Obligations, and Liens. From the Effective Date until Closing, without Buyer’s prior written consent (which Buyer may withhold, delay, or condition in Buyer’s sole and absolute discretion), Seller will not, with respect to the Marketing/Retail Business: # create, incur, assume, guarantee, or otherwise become liable with respect to any indebtedness for any reason whatsoever, except in the ordinary course of business; or # incur or suffer the incurrence of any lien or other encumbrance on any Asset.

Liens. No Alterations shall be undertaken by Tenant until: # Tenant has made provision for written waiver of liens from all contractors for such Alteration; and # with respect to any Alteration, the cost of which exceeds $500,000.00: # Tenant has provided Landlord with reasonable evidence that there is sufficient funding to pay for such Alteration, and # Tenant has required its general contractor to obtain appropriate surety payment and performance bonds which shall name Landlord as an additional obligee and has filed lien bond(s) (in jurisdictions where available) on behalf of such contractors. Any mechanic’s lien filed against the Premises or the Building for work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be discharged by Tenant within ten (10) business days thereafter, at Tenant’s expense by filing the bond required by law or otherwise.

Liens. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises or the Building. Tenant shall promptly pay and discharge all invoices and claims for labor performed, supplies furnished and services rendered for or at the request of Tenant and shall keep the Premises free of all mechanics’, materialmen’s, or other similar liens in connection therewith. Tenant shall provide at least ten (10) days prior written notice to Landlord before any labor is performed, supplies furnished or services rendered on or at the Premises and Landlord shall have the right to post on the Premises notices of non-responsibility. If any lien is filed, Tenant shall cause such lien to be released and removed within fifteen (15) days after the date of filing, and if Tenant fails to do so, Landlord may take such action as may be necessary to remove such lien and Tenant shall promptly pay Landlord such amounts expended by Landlord in connection therewith, including, without limitation, reasonable attorneys’ fees and expenses, together with interest thereon at the Applicable Interest Rate from the date of expenditure.

Liens. Tenant will keep the Premises and the Building free from any liens arising out of work performed, materials furnished, or obligations incurred by or on behalf of or for the

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 of any kind on any asset now owned or hereafter acquired, except Permitted Liens.

Liens. Create, incur, assume or suffer to exist any Lien on any # Unencumbered Eligible Property (or any income from or proceeds of any thereof) other than Permitted Property Encumbrances or # any Equity Interest (or any income from or proceeds thereof) of the Borrower or any Unencumbered Property Subsidiary other than Permitted Equity Encumbrances; or sign, file or authorize under the Uniform Commercial Code of any jurisdiction a financing statement that includes in its collateral description any portion of any Unencumbered Eligible Property or any Equity Interest of the Borrower or any Unencumbered Property Subsidiary.

Liens. Tenant shall keep the Leased Premises and the Complex in which the Leased Premises are situated free from any liens arising out of any work performed, materials furnished or obligations incurred by Tenant. In the event a mechanic’s or other lien is filed against the Leased Premises, Building or the Complex as a result of a claim arising through Tenant, Landlord may demand that Tenant furnish to Landlord a surety bond satisfactory to Landlord in an amount required under applicable law to remove the lien as a lien against the Complex, indemnifying Landlord against liability for the same and holding the Leased Premises free from the effect of such lien or claim. Such bond must be posted within ten (10) days following notice from Landlord. In addition, Landlord may require Tenant to pay Landlord’s reasonable attorneys’ fees and costs in participating in any action to foreclose such lien if Landlord shall decide it is to its best interest to do so. If Tenant fails to post such bond within said time period, Landlord, after five (5) days prior written notice to Tenant, may pay the claim prior to the enforcement thereof, in which event Tenant shall reimburse Landlord in full, including attorneys’ fees, for any such expense, as additional rent, with the next due rental.

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