Common use of Contest of Liens Clause in Contracts

Contest of Liens. Tenant, notwithstanding the above, shall have the right to contest any such mechanics' or other similar lien if within said Thirty (30) day period stated above it (i) notifies Issuer in writing of its intention so to do, and if requested by Issuer, deposits with the Trustee a surety bond issued by a surety company acceptable to Issuer as surety, in favor of Issuer or cash, in the amount of the lien claim so contested, indemnifying and protecting Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (ii) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iii) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. TenantThe Company, notwithstanding the above, shall have the right to contest any such mechanics' mechanic’s or other similar lien if within said Thirty (30) day period stated above -days after the date of filing it (i) notifies the Issuer and Trustee in writing of its intention so to do, and if requested by Issuer, deposits with the Trustee a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of the Issuer or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (ii) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iii) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. The Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic's or other similar lien if within said Thirty (the 30) -day period stated above it (ia) notifies the Issuer and the Bank in writing of its intention so to do, and if requested by the Bank or the Issuer, deposits with the Trustee Bank a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of Issuer the Issuer, or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said the asserted lien and the contest thereof, and (iib) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iiic) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. The Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic’s or other similar lien if within said Thirty (30) -day period stated above it (ia) notifies the Issuer and the Trustee in writing of its intention so to do, and if Tenant is not the sole owner of Bonds and if requested by Issuerthe Trustee, deposits with the Trustee a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of Issuer the Issuer, or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (iib) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iiic) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. The Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic’s or other similar lien if within said Thirty (30) day period stated above 30 days after the date of filing it (i) notifies the Issuer and Trustee in writing of its intention so to do, and if requested by Issuer, deposits with the Trustee a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of the Issuer or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (ii) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iii) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. The Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic’s or other similar lien if within said Thirty (30) -day period stated above it (ia) notifies the Issuer and the Trustee in writing of its intention so to do, and if requested by the Issuer, deposits with the Trustee a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of the Issuer or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (iib) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iiic) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. The Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic’s or other similar lien if within said Thirty (30) -day period stated above it (ia) notifies the Issuer and the Trustee in writing of its intention so to do, and if requested by Issuerthe Trustee, deposits with the Trustee a surety bond issued by a surety company acceptable to the Issuer as surety, in favor of Issuer the Issuer, or cash, in the amount of the lien claim so contested, indemnifying and protecting the Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (iib) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project Leased Property or any part thereof or interest therein, under execution or otherwise, and (iiic) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.

Contest of Liens. Tenant, notwithstanding the above, shall have the right to contest any such mechanics' mechanic's or other similar lien if within said Thirty (30) -day period stated above it (iI) notifies Issuer and Trustee in writing of its intention so to do, and if requested by Issuer, deposits with the Trustee a surety bond issued by a surety company acceptable to Issuer as surety, in favor of Issuer or cash, in the amount of the lien claim so contested, indemnifying and protecting Issuer from and against any liability, loss, damage, cost and expense of whatever kind or nature growing out of or in any way connected with said asserted lien and the contest thereof, and (ii) diligently prosecutes such contest, at all times effectively staying or preventing any official or judicial sale of the Project or any part thereof or interest therein, under execution or otherwise, and (iii) promptly pays or otherwise satisfies any final judgment adjudging or enforcing such contested lien claim and thereafter promptly procures record release or satisfaction thereof.