Lien Searches. The Administrative Agent shall have received the results of a recent lien search in each jurisdiction where the Loan Parties are organized and where a material portion of the assets of the Loan Parties are located, and such search shall reveal no Liens on any of the assets of the Loan Parties except for Liens permitted by Section 6.02 of the Credit Agreement.
Landlord’s Lien. Tenant hereby grants to Landlord a lien upon and security interest in all fixtures, chattels and Personal Property of every kind now or hereafter to be placed or installed in or on the Leased Premises and agrees that in the event of any default on the part of Tenant, Landlord shall have all the rights and remedies afforded the secured party by the chapter on “Default” of Division 9 of the Uniform Commercial Code of the state in which the Leased Premises are located and may, in connection therewith, also # enter on the Leased Premises to assemble and take possession of the collateral, # require Tenant to assemble the collateral and make its possession available to Landlord at the Leased Premises, and # enter the Leased Premises, render the collateral, if equipment, unusable and dispose of it in a manner provided by the Uniform Commercial Code of the state in which the Leased Premises are located.
Lien Priority. There is a material impairment in the priority of Bank’s security interest in the Collateral (other than as a result of any action or inaction by Bank).
Lien Searches. The Administrative Agent shall have received the results of customary UCC, tax and judgment lien searches that are reasonably requested by the Administrative Agent on or prior to the date that is 10 Business Days prior to the Amendment No. 1 Incremental Effective Date.
Lien Priority. Any Lien (other than a Lien released in accordance with the terms hereof) created hereunder or provided for hereby or under any Other Document for any reason ceases to be or is not a valid and perfected Lien having a first priority interest (subject only to Liens permitted under Section 7.2).
Lien Releases. Purchaser shall have received evidence in form satisfactory to Purchaser of the release of all Liens listed on [Schedule 5.3(j)];
Lien Releases. Each Secured Party authorizes Administrative Agent to release any Lien with respect to any Collateral # upon Payment in Full of the Obligations or # that is the subject of an Asset Disposition which Borrower Agent certifies in writing to Administrative Agent and Co-Collateral Agents is an Asset Disposition that is permitted by Section 7.6 (and Administrative Agent may rely conclusively on any such certificate without further inquiry).
Lien Searches. The Agent shall have received the results of a recent lien search in each of the jurisdictions in which Uniform Commercial Code financing statements or other filings or recordations should be made to evidence or perfect security interests in all assets of the Loan Parties, and such search shall reveal no liens on any of the assets of the Loan Party, except for Liens permitted by [Section 7.01] or liens to be discharged (or requiring estoppel letters) on or prior to the Closing Date.
Lien Priority. Any Lien created hereunder or by any other Loan Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens which are permitted to have priority in accordance with the terms of this Agreement; provided that such circumstance is not due to Collateral Agent’s failure to file an appropriate continuation financing statement, amendment financing statement or initial financing statement.
Mechanic’s Lien. Should any mechanic’s or other lien be filed against the Leased Premises or any part thereof by reason of Tenant’s acts or omissions or because of a claim against Tenant, Tenant shall cause the same to be canceled and discharged of record by bond or otherwise within ten (10) days after notice by Landlord. If Tenant fails to comply with its obligations in the immediately preceding sentence within such ten (10) day period, Landlord may perform such obligations at Tenant’s expense, in which case all of Landlord’s costs and expenses in discharging shall be immediately due and payable by Tenant and shall bear interest at the rate set forth in Section 16.3 hereof. Tenant shall cause any person or entity directly or indirectly supplying work or materials to Tenant to acknowledge and agree, and Landlord hereby notifies any such contractor, that: # no agency relationship, whether express or implied, exists between Landlord and any contractor retained by Tenant; # all construction contracted for by Tenant is being done for the exclusive benefit of Tenant; and # Landlord neither has required nor obligated Tenant to make the improvements done by the contractor.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.