Discharge of Encumbrances. The Lessee may, at its option, pay or discharge all or any balance owing under any Agreement for Sale or Mortgage, or of any tax, charge, lien or encumbrance of any kind or nature whatsoever which may now or hereafter exist on or against or in any way affect the said lands, in which event the Lessee shall be subrogated to the rights of the holder or holders thereof, and may in addition thereto, at its option, reimburse itself by applying on account the repayment of the amount so paid by it, the rates or other sum accruing to the Lessor under the terms of this Lease Agreement.
Discharge of Encumbrances. Notwithstanding any other provision in this Lease, if the Company determines that:
(a) there are outstanding charges, taxes, builders’ liens, writs of execution, judgments or other encumbrances which are registered against the Lands; or
(b) there are any overdue amounts outstanding under any agreement for sale, mortgage or other financial encumbrance that is registered against the Lands; the Company may, but shall not be obligated to, pay all or a portion of the compensation or other amounts payable under this Lease to the holder of such charge, lien, writ of execution, judgment, mortgage or other financial encumbrance, or to such vendor or mortgagee to satisfy and discharge such encumbrance or to obtain a postponement from the encumbrance holder. The payment of any amount to such third party shall be deemed to be payment hereunder of such amount to the Lessor. For greater certainty, the Company shall not be required to obtain the Lessor’s consent prior to making such payment. The Company shall provide to the Lessor written confirmation of any such payments within thirty (30) days of making such payments.
Discharge of Encumbrances. Seller will take all actions and do all things necessary to cause all Encumbrances other than Permitted Encumbrances on any Purchased Assets to be terminated or otherwise discharged at or prior to the Closing.
Discharge of Encumbrances. Company and each Seller will take, and Company will cause each Subsidiary to take, all actions and do all things necessary to cause all Encumbrances other than Permitted Encumbrances on any Assets to be terminated or otherwise discharged at or prior to the Closing.
Discharge of Encumbrances. (a) If at the Completion Date there is noted on the title of the Land any mortgage or caveat (other than a Tenant's caveat), the Purchaser will accept a discharge or withdrawal of that mortgage or caveat, provided that such discharge of mortgage or withdrawal of caveat is executed and in registrable form and the prescribed registration fees are allowed by the Vendor to the Purchaser.
(b) Where a caveat is registered on the title to the Land by a party claiming an estate as a lessee of the Land (or a part of the Land or the Building), the Vendor is not required to provide the Purchaser with a withdrawal of such caveat if the Vendor provides to the Purchaser a letter in a form acceptable to the Registrar of Titles from such caveator consenting to registration of the transfer to the Purchaser and the Purchaser’s mortgage of the Land (if any).
(c) In respect of any Security Interest registered against the Vendor that affects the Assets, the Purchaser must accept at Completion a release of that Security Interest. The Purchaser must notify the Vendor at least 10 Business Days prior to the Completion Date of any Security Interests which it requires to be released at Completion.
Discharge of Encumbrances. If this agreement has been registered, then upon termination of this agreement the Company shall register in the appropriate Land Titles Office such documents as may be necessary to remove such registration from title to the Lands.
Discharge of Encumbrances. Upon the occurrence of an Emera Default referred to in Section 11.1(b), Nalcor may, without obligation to do so, make payment on behalf of Emera of such monies as may be required to obtain a discharge and release of any Encumbrance, other than a Permitted Encumbrance, affecting the Maritime Link and any amount so paid by Nalcor shall bear interest at the Prime Rate plus 10% per annum from the date of advance and be payable by Emera to Nalcor on demand.
Discharge of Encumbrances. Mortgagor shall promptly discharge or cause to be discharged, at Mortgagor's cost and expense, all liens, encumbrances and charges upon the Mortgaged Property, or any part thereof or interest therein; provided, however, that Mortgagor shall have the right to contest in good faith the validity of any such lien, encumbrance or charge if Mortgagor shall first deposit with Mortgagee or with the appropriate court a bond or other security satisfactory to Mortgagee in such amount as Mortgagee shall reasonably require, but not more than one hundred fifty percent (150%) of the amount of the claim, and provided further that (a) Mortgagor shall thereafter diligently proceed to cause such lien, encumbrance or charge to be removed and discharged, (b) such proceeding shall operate to suspend collection, and (c) such amounts shall be duly paid when determined but in all events prior to any execution sale of the Mortgaged Property or any portion thereof. If Mortgagor shall fail to discharge any such lien, encumbrance or charge, then, in addition to any other right or remedy of Mortgagee, Mortgagee may, but shall not be obligated to, discharge the same, either by paying the amount claimed to be due, or by procuring the discharge of such lien by depositing in court a bond or the amount claimed or otherwise giving security for such claim, or in such manner as is or may be prescribed by law. and, in such event, all sums so paid by Mortgagee shall be included in the Obligations Secured and secured by this Mortgage in accordance with the terms of Section 5.3 below.
Discharge of Encumbrances. The amount of any unpaid taxes, assessments, water charges and sewer rents which Seller is obligated to pay and discharge, with the interest and penalties thereon to a date not less than two (2) business days after the date of Closing, may at the option of Seller be allowed to Purchaser out of the balance of the Purchase Price, provided official bills therefor, with interest and penalties thereon computed to said date are furnished by Seller at the Closing. If on the date of Closing there are any other liens or encumbrances which Seller is obligated to pay and discharge, Seller may use (but shall not be obligated to use, unless otherwise provided herein) any portion of the balance of the Purchase Price to satisfy the same, provided Seller shall deliver to Purchaser at the Closing instruments in recordable form and sufficient to satisfy such liens and encumbrances of record, together with the cost of recording or filing said instruments. Purchaser, if request is made within a reasonable time prior to the Closing, agrees to provide at the Closing separate certified checks as requested to facilitate the satisfaction of any such liens or encumbrances. The existence of any such taxes, assessments, water charges or sewer rents or other liens or encumbrances shall not be deemed objections to title if Seller shall comply with the foregoing requirements. If the Title Company is willing to insure Purchaser that such taxes, assessments, water charges, sewer rents, liens and encumbrances will not be collected out of or enforced against the Premises, then Seller shall have the right, in lieu of payment and discharge, to deposit with the Title Company such funds or assurances or to pay such special or additional premiums as the Title Company may require in order so to insure. In such case the taxes, assessments, water charges, sewer rents, liens and encumbrances with respect to which the Title Company has agreed so to insure shall not be considered objections to title.
Discharge of Encumbrances. Except as set forth in Schedule 5.7, each Company and each Seller shall take all actions and do all things necessary to cause all Encumbrances, other than Permitted Encumbrances, on any of the Stock or the assets of any Company to be terminated or otherwise discharged at or prior to the Closing.
