Common use of COVENANT AGAINST LIENS Clause in Contracts

COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's or other lien, charge or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee and/or any portion of the Leased Premises (whether or not such lien, charge, order or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty (30) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against and save Landlord harmless from all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages and expenses resulting therefrom or incurred in connection therewith, together with interest thereon (at a rate equal to the "Default Rate") promptly upon demand.

Appears in 2 contracts

Samples: Lease (Techprecision Corp), Lease (Lounsberry Holdings Ii Inc)

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COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's or other lien, charge or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee and/or any portion of the Leased Premises (whether or not such lien, charge, order or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty ten (3010) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against and save Landlord harmless from all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages damages, and expenses resulting therefrom or incurred in connection therewith, together with interest thereon (at a rate equal to the "Default Maximum Rate") ), promptly upon demand.

Appears in 2 contracts

Samples: Lease (Aviation Sales Co), Kellstrom Industries Inc

COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's mechanics’ or other lien, charge charge, or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee Mortgagee, and/or any portion of the Leased Premises (whether or not such lien, charge, order order, or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty ten (3010) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against against, and save Landlord harmless from from, all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands demands, and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order order, or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages damages, and expenses (including without limitation reasonable attorney fees) resulting therefrom or incurred in connection therewith, plus an administration fee of twenty (20%) percent of the total of the same together with interest thereon (at a rate equal to the "Default Maximum Rate") ), promptly upon demand.

Appears in 1 contract

Samples: Sell, Purchase and Lease (First National Bancshares Inc /Sc/)

COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's or other lien, charge or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee and/or any portion of the Leased Premises (whether or not such lien, charge, order or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty (30) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against and save Landlord harmless from all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages damages, and expenses resulting therefrom or incurred in connection therewith, together with interest thereon (at a rate equal to the "Default Maximum Rate") ), promptly upon demand.

Appears in 1 contract

Samples: Lease (Enzo Biochem Inc)

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COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's or other lien, charge or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee and/or any portion of the Leased Premises (whether or not such lien, charge, order or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty ten (3010) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against and save Landlord harmless from all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages damages, and expenses resulting therefrom or incurred in connection therewith, together with interest thereon (at a rate equal to the "Default Maximum Rate") ), promptly upon demand.

Appears in 1 contract

Samples: Lease (Timco Aviation Services Inc)

COVENANT AGAINST LIENS. (a) If, because of any act or omission (or alleged act or omission) of Tenant, any mechanic's mechanics' or other lien, charge charge, or order for the payment of money or other encumbrances shall be filed or imposed against Landlord, the Ground Lessor, any Superior Lessor, any Mortgagee Mortgagee, and/or any portion of the Leased Premises (whether or not such lien, charge, order order, or encumbrance is valid or enforceable as such), Tenant shall, at its cost and expense, cause same to be discharged of record or bonded within thirty ten (3010) days after notice to Tenant of the filing or imposition thereof; and Tenant shall indemnify and defend Landlord against against, and save Landlord harmless from from, all losses, costs, damages, expenses, liabilities, suits, penalties, claims, demands demands, and obligations, including, without limitation, reasonable counsel fees, resulting therefrom. If Tenant fails to comply with the foregoing provisions, Landlord shall have the option in addition to its other rights or remedies of discharging or bonding any such lien, charge, order order, or encumbrance, and Tenant agrees to reimburse Landlord (as additional rent) for all losses, costs, damages damages, and expenses (including without limitation reasonable attorney fees) resulting therefrom or incurred in connection therewith, plus an administration fee of twenty (20%) percent of the total of the same together with interest thereon (at a rate equal to the "Default Maximum Rate") ), promptly upon demand.

Appears in 1 contract

Samples: First National Bancshares Inc /Sc/

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