Creation of Lien. This Security Agreement creates a valid first priority Lien in the Collateral, securing Grantor’s performance and payment of its Obligations under the Transactional Documents, including, without limitation, performance of the City Purpose Covenant, and all actions necessary or desirable to protect such Lien have been duly taken.
Creation of Lien. In addition to any other rights or remedies available to RB Group, this Agreement creates a lien and charge upon the Equipment and may be registered under any applicable personal property security legislation as may be in effect from time to time and entitles RB Group to seize and retain possession of the Equipment as security for, and to sell the Equipment to recover, all sums owing hereunder.
Creation of Lien. This Agreement is effective to create a valid and continuing Lien upon the Collateral. Upon the written request of the Secured Party, the Debtor shall take all action necessary to protect and perfect such Lien on each item of the Collateral.
Creation of Lien. The garnishment or creation of a lien against or security interest in any of the Collateral (other than existing security interests as of the date hereof or liens otherwise permitted herein) in which Borrower has granted a security interest to Lender pursuant to the terms hereof which is otherwise not released or cured by Borrower in some other manner acceptable to Lender within ten days following the date upon which Borrower knew or in good faith should have known of the existence of the interest at issue.
Creation of Lien. The escrow created hereby shall be irrevocable. The Owners of the Prior District Bonds are hereby given an express lien on, and security interest in, the Escrow Fund and all earnings thereon, if any, until used and applied in accordance with this Agreement. The cash in the Escrow Fund is hereby pledged and assigned, and shall be applied solely for the payment of the principal of, the premium, if any, and interest on the Prior District Bonds.
Creation of Lien. Lessee shall not create or permit to be created or to remain, and shall discharge, any mechanic’s, laborer’s or materialmen’s lien or any conditional sale, title retention agreement or chattel mortgage, which might be or become a lien, encumbrance or charge upon the Demised Premises, the Improvements or any part thereof having any priority or preference over or ranking on a parity with the estate, rights and interest of Lessor in the Demised Premises, the Improvements or any part thereof.
Creation of Lien. The Commission and the County hereby grant to the Escrow Agent a first lien on the monies in the Escrow Fund and acknowledge that the monies in the Escrow Fund shall be subject to an express lien and trust for the benefit of the holders of the Bonds, subject, however, to the terms hereof.
Creation of Lien. The City and the County hereby grant to the Escrow Agent a first lien on the Accommodations Fees and acknowledge that the Accommodation Fees on deposit in the Escrow Fund shall be subject to an express lien and trust for the benefit of the holders of the Bonds, subject, however, to the terms of this Agreement.
Creation of Lien. MTS Land/Golf hereby grants, conveys, assigns and transfers to the Town a security interest in and lien on each Resort Estate Lot or Resort Residential unit created by a recorded final plat or map in Development Area E and Development Area B in order to secure the payment of the In Lieu Payment for each Payment Year; provided however, that the Minimum Hotel Keys along with any additional Hotel Keys, to the extent they are owned by the Owner of a Resort Hotel shall not be subject to such lien. Only those portions of Development Area B or Development Area E that are subdivided into lots, units or other parcels capable of separate ownership by a plat, map or otherwise, and intended to contain Resort Units shall be subject to security interest and lien and the security interest and lien shall thereafter apply individually to each lot or unit obligated to make In Lieu Payments under this Agreement, with no lot or unit or the Owner thereof liable for delinquent In Lieu Payments owing for another lot or unit or by another Owner. Notwithstanding the foregoing, the Town will execute any further acknowledgement that the Town’s security interest and lien does not apply to a Non-Obligated Unit (but only during the time period when such lot or unit is used during an entire Payment Year for the purpose of renting under agreements having individual occupancy term(s) of less than thirty (30) days or as a Hotel Key) as may be reasonably requested from time to time in connection with recordation of plats or maps or by any title insurance company, government official, lender or purchaser. Such lien shall be a realty mortgage and shall be enforceable pursuant to and enforceable in the manner provided by law from time to time for enforcement of realty mortgages, which the parties acknowledge is currently governed by A.R.S. § 33-701 et. seq. Subject to the provisions of Section 3(C)(8)(g), so long as MTS Land/Golf owns a lot or unit subject to the In Lieu Payment obligation, MTS Land/Golf shall pay, and each subsequent Owner of a lot or unit subject to the In Lieu Payment obligation, by becoming an Owner of such lot or unit, is deemed to covenant and agree to pay, the In Lieu Payment applicable to such lot or unit in accordance with this Agreement. Town acknowledges that MTS Land/Golf and any subsequent Owner is released from any obligation to make In Lieu Payments that are due following MTS Land/Golf’s or the subsequent Owner’s conveyance of a lot or unit and that such obligat...
Creation of Lien. The escrow created hereby shall be irrevocable. The holders of the Series 2017 Bonds are hereby given an express lien on and security interest in the portion of the Escrowed Securities and the cash held in the Escrow Fund and all earnings thereon used and applied in accordance with this Agreement to pay interest on the Refunding Bonds to and including the Crossover Date. The holders of the Refunded Bonds are hereby given an express lien on and security interest in the portion of the Escrowed Securities and cash in the Escrow Fund and all earnings thereon until used and applied in accordance with this Agreement to pay the principal of the Refunded Bonds on the Crossover Date or Redemption Date. The matured principal of and earnings on the Escrowed Securities and any cash in the Escrow Fund are hereby pledged and assigned, and except as otherwise provided herein shall be applied solely for the payments described herein.
