Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.
Appears in 7 contracts
Samples: www.fairfaxcounty.gov, www.fairfaxcounty.gov, www.fairfaxcounty.gov
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be is filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall will be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) 45 days after notice of the filing thereof shall will cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall will fail to cause such lien to be discharged of record within the period aforesaid45-day period, and if such lien shall continue continues for an additional ten (10) days Business Days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord may, but shall is not be obligated to, discharge the same lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA shall Landlord will be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHAXxxxxxxx, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall will constitute Additional Costs and shall will be paid by Tenant to the FCRHA Landlord within ten (10) days Business Days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall will not be required to discharge (and the FCRHA shall Landlord will not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 4 contracts
Samples: Deed of Lease, Deed of Lease, Deed of Lease
Discharge of Liens. If any mechanic’smechanics, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 16.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.0216.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 3 contracts
Samples: www.fairfaxcounty.gov, www.fairfaxcounty.gov, www.fairfaxcounty.gov
Discharge of Liens. If Each of the Certificate Purchasers covenants as to itself, and not jointly with any mechanic’sother Certificate Purchaser, laborer’s that it will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall time, and will, at its own cost and expense, promptly take such action as Participation Agreement may be filed in violation of the obligations of Tenant pursuant necessary duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated toall Lessor Liens attributable to it, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, Trust Estate in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor any diminution of the lienor value thereof as a result of its failure to comply with interestits obligations under this Section 6.2(a). Certificate Trustee will not create or permit to exist at any time, costs and allowances. Any will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of any diminution of the FCRHA’s making value thereof as a result of its failure to comply with its obligations under this Section 6.2(a). Bank will not create or permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the payment or incurring value thereof as a result of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant its failure to the FCRHA within ten (10) days after demandcomply with its obligations under this Section 6.2(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Certificate Purchasers, Tenant Certificate Trustee or Bank, as the case may be, shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Lessor Lien while the same is being contested in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same impairment of the Lien of the Security Agreement or of the sale, forfeiture or loss of, and has furnished a cash deposit shall not interfere with the use or a security bond disposition of, any part of the Equipment, the Lease or other the Trust Estate or title thereto or any interest therein or the payment of Rent; provided, however, that each Certificate Purchaser, Certificate Trustee and Bank shall discharge any such security reasonably satisfactory Lessor Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of any Equipment by Lessee pursuant to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesLease.
Appears in 3 contracts
Samples: Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc), Participation Agreement (Electric Lightwave Inc)
Discharge of Liens. If Tenant shall cause any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) at any time shall to be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five thirty (4530) days after notice of the filing thereof thereof, shall cause the same such lien to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, then in addition to any other right or remedy, the FCRHA Landlord may, but shall not be obligated to, discharge the same such lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an any action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including Landlord and all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, rate of six percent (6%) per annum from the respective dates of the FCRHALandlord’s making of the payment or payments and incurring of the costs and expenses, shall constitute Additional Costs be payable by Tenant under this Lease and shall be paid by Tenant to the FCRHA within ten (10) days after Landlord on demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.
Appears in 2 contracts
Samples: Lease and Asset Transfer Agreement, Lease and Asset Transfer Agreement
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid45-day period, and if such lien shall continue continues for an additional ten (10) days Business Days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord may, but shall is not be obligated to, discharge the same lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days Business Days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.penalties.
Appears in 2 contracts
Samples: www.fairfaxcounty.gov, Comprehensive Agreement
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 2 contracts
Samples: Deed of Lease, Deed of Lease
Discharge of Liens. If any mechanic’smechanics, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 16.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHAXxxxxxxx, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.0216.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 2 contracts
Samples: www.fairfaxcounty.gov, www.fairfaxcounty.gov
Discharge of Liens. If Each of the Rent Assignees covenants as to itself, and not jointly with any mechanic’sother Rent Assignee, laborer’s that it will not create or materialman’s lien permit to exist at any time, any Lessor Lien attributable to it and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Lessor for the benefit of the Lessee and the other Participants (other than a lien arising out as their interests may appear) in the amount of any work performed by diminution of the FCRHA) value of the Leased Property or the Site as a result of its failure to discharge or cause to be discharged all Lessor Liens attributable to it pursuant to this Section 6.2(a). The Lessor will not create or permit to exist at any time shall any Lessor Lien attributable to it, and will promptly take such action as may be filed in violation of the obligations of Tenant pursuant necessary duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall all Lessor Liens attributable to it and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, Lessee and if such lien shall continue for an additional ten the Rent Assignees (10as their interests may appear) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor any diminution of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates value of the FCRHA’s making Leased Property or the Site as a result of its failure to comply with its obligations under this Section 6.2(a). Each Agent, in both its individual capacity and in its capacity as Agent, will not create or permit to exist at any time any Lessor Lien attributable to it, and will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Lessor for the benefit of the payment or incurring Lessee and the Participants (as their interests may appear) in the amount of any diminution of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant value of the Leased Property or the Site as a result of its failure to the FCRHA within ten (10) days after demandcomply with its obligations under this Section 6.2(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Participants and/or the Agents, Tenant as the case may be, shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Lessor Lien while the same is being contested by a Permitted Contest in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same sale, forfeiture, loss or diminution in value of, and has furnished a cash deposit shall not interfere with the use, operation or disposition of, any part of the Leased Property or the Site, the Lease or title thereto or any interest therein or the payment of Rent; provided, however, that each Participant and each Agent shall discharge any such Lessor Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of the Leased Property by the Lessee pursuant to the Lease or a security bond or other such security reasonably satisfactory sale of the Leased Property pursuant to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesReturn Option.
Appears in 1 contract
Discharge of Liens. If THE TENANT shall promptly pay all of its contractors and suppliers and shall do any mechanic’s, laborer’s or materialman’s lien (other than and all things necessary so as to minimize the possibility of a lien arising out of attaching to the Leased Premises and should any work performed by such lien be made or filed, the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, vacate or funds appropriated to, the FCRHA, Tenant, discharge it within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice following the date that the Tenant becomes aware of the registration of such lien, provided however that the Tenant may contest the validity of any such lien and in so doing shall obtain an order of a Court of competent jurisdiction vacating the lien from the title to the Leased Premises by payment into Court or by furnishing to the FCRHA Landlord security satisfactory to Tenantthe Landlord in nature and amount against all loss or damage which the Landlord might suffer or incur thereby. If the Tenant shall fail to discharge or vacate any lien, then, then in addition to any other right or remedyremedy of the Landlord, the FCRHA Landlord may, but it shall not be obligated toso obligated, discharge vacate the same either lien by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, into Court and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including Landlord together with all reasonable costs and expenses including solicitor’s fees (on a solicitor and his client basis) incurred to vacate the lien shall be due and payable by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after Landlord as Additional Rent on demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: Loan Agreement (Hydrogenics Corp)
Discharge of Liens. (a) If Tenant fails to cause any mechanic’s's, laborer’s 's, vendor's, materialman's or materialman’s similar statutory lien (other than a lien arising out of any work performed by including tax liens, providing the FCRHA) at any time shall be filed in violation of the obligations underlying tax is an obligation of Tenant pursuant to Section 15.01 against the Premises by law or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five (45a provision of this Lease) days after notice of the filing thereof shall cause the same to be discharged of record by paymentin accordance with the provisions of Article 17, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA Owner may, but shall not be obligated to, discharge the same such lien of record either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings. If Owner's title is threatened or a material interest of Owner is impaired, and in any such event, the FCRHA shall be entitledOwner may also, if the FCRHA Tenant has not done so elects(or bonded such lien), to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the payment of the amount of the judgment in favor of the lienor with interest, costs and allowances. (b) If Owner fails to cause any mechanic's, laborer's, vendor's, materialman's or similar statutory lien (including tax liens, providing the underlying tax is an obligation of Owner by law or by a provision ofthis Lease) to be discharged of record in accordance with the provisions of Article 17, Tenant may, but shall not be obligated to, discharge such lien of record either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings. If Tenant's leasehold interest in the Premises (or any portion thereof) is threatened or a material interest of Tenant is impaired, Tenant may also, if Owner has not done so (or bonded such lien), compel the prosecution of an action for the foreclosure of such lien by the lienor and the payment of the amount of the judgment in favor of the lienor with interest, costs and allowances. 80 F:\MlNSKERIC.M.BIP ARKONEIPOGROUNDLEASE.EXEC 12-I.DOC ~tf: 1893m~2508 Section 24.3 Reimbursement for Amounts Paid Pursuant to this Article. (a) Any amount so paid by the FCRHAOwner in performing Tenant's obligations as provided in this Article 24, including all reasonable costs and expenses incurred by the FCRHA Owner in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs Rental hereunder and shall be reimbursed to Owner within thirty (30) days of Owner's demand, together with a late charge on amounts actually paid by Owner, calculated at the Late Charge Rate from the date of notice of any such payment by Owner to the date on which payment of such amounts is received by Owner. (b) Any amount paid by Tenant in performing Owner's obligations as provided in this Article 24, including all costs and expenses incurred by Tenant in connection therewith, shall be reimbursed to Tenant within thirty (30) days of Tenant's demand, together with a late charge on amounts actually paid by Tenant, calculated at the Late Charge Rate from the date of notice of any such payment by Tenant to the FCRHA within ten (10) days after demanddate on which payment of such amounts is received by Tenant. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.24.4
Appears in 1 contract
Samples: docmgmt.miamibeachfl.gov
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid45-day period, and if such lien shall continue continues for an additional ten (10) days Business Days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord may, but shall is not be obligated to, discharge the same lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days Business Days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: www.fairfaxcounty.gov
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) at any time prior to or during the Term (or within the statutory period thereafter if attributable to Tenant), any mechanic’s or other lien or order for payment of money, which shall have been either created by, caused (directly or indirectly) by, or suffered against Tenant, shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof at its sole cost and expense, shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction bonding or otherwise. If Tenant shall fail to cause such lien to be discharged of record , within the period aforesaid, and if such lien shall continue for an additional ten thirty (1030) days after Tenant receives notice of the filing thereof unless such lien or order is contested by the FCRHA to Tenant, thenTenant in good faith and Tenant provides sufficient security or evidence of financial ability, in addition each case to any other right or remedythe reasonable satisfaction of Landlord, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of such lien or order, and such contest by Tenant is permitted by the judgment in favor terms of any Mortgage that affects the lienor with interestResort or the Premises, and Tenant pays all costs and allowancesperforms all obligations required to fully comply with applicable provisions of any such Mortgage. Any amount so paid Exhibit “11.4” contains the provision in the existing Mortgage that governs the contest of liens. Tenant shall, upon notice and request in writing by Landlord, defend for Landlord, at Tenant’s sole cost and expense, any action or proceeding which may be brought on or for the FCRHAenforcement of any such lien or order for payment of money, including all reasonable costs and expenses incurred will pay any damages and satisfy and discharge any judgment entered in such action or proceeding and save harmless Landlord from any liability, claim or damage resulting therefrom. In default of Tenant’s procuring the discharge of any such lien as aforesaid Landlord may, without notice, and without prejudice to its other remedies hereunder, procure the discharge thereof by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the bonding or payment or incurring of the costs otherwise, and expenses, all cost and expense which Landlord shall constitute Additional Costs and incur shall be paid by Tenant to the FCRHA within ten (10) days after demandLandlord as Additional Rent forthwith. Notwithstanding the foregoing The provisions of this Section 15.02, Tenant 11.4 shall not be required to discharge (and survive the FCRHA shall not pay expiration or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesearlier termination of this Lease.
Appears in 1 contract
Discharge of Liens. Tenant shall not create or permit to be created or to remain, and shall discharge, any mechanic's, laborer's or materialman's lien or any conditional sale, title retention agreement or chattel mortgage, which might be or become a lien, encumbrance or charge upon the Premises or any part thereof. If any mechanic’s's, laborer’s 's or materialman’s 's lien (other than a lien arising out of any work performed by the FCRHA) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof as a result of work performed by or the Project on behalf of Tenant or any part thereof, or, if any public improvement lien created or permitted materials supplied to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHATenant, Tenant, within forty-five thirty (4530) days after notice of the filing thereof thereof, shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA after ten (10) days' notice to Tenant, Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA event Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including Landlord and all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, rate of ten percent (10%) per annum from the respective dates of the FCRHA’s Landlord's making of the payment or incurring of the costs cost and expenses, expense shall constitute Additional Costs additional rent payable by Tenant under this Lease and shall be paid by Tenant to the FCRHA within ten (10) days after Landlord on demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: Lease (Gunther International LTD)
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHAXxxxxxxx, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: Deed of Lease
Discharge of Liens. If any mechanic’sDuring the Term of this Lease, laborer’s or materialman’s lien Tenant shall not permit to remain, and shall promptly discharge, at its sole cost and expense, all Liens (other than a lien arising out of any work performed Liens created by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against upon the Premises or any part thereof thereof; provided, however, that the existence of any mechanics’ liens or rights thereto shall not constitute a violation of this Article if payment is not yet due under the Project contract that is the foundation of such liens or any part thereof, or, if any public improvement lien created or permitted to be created by rights thereto. Tenant shall be filed against have the right to contest with due diligence the validity or amount of any assets ofLien or claimed Lien provided that Tenant has deposited with the court in which the proceedings are pending cash, or funds appropriated to, the FCRHA, a bond from a reputable corporate surety or other reasonable assurance of payment by Tenant, made within forty-five thirty (4530) days after notice the date of recording of the filing thereof Lien, as assurance that any final judgment thereon, or such process as may be issued for the enforcement thereof, shall cause be paid and discharged forthwith. On final determination of the same to be discharged Lien or claim of record by paymentLien, deposit, bond, order of a court of competent jurisdiction Tenant shall immediately pay any judgment rendered with all proper costs and charges and shall have the Lien released or otherwisejudgment satisfied at Tenant’s own expense. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaiddo so, Landlord may at its option, and if upon thirty (30) days’ prior Notice to Tenant, pay any such lien shall continue for an additional ten final judgment and clear the title to the Premises therefrom. If within thirty (1030) days after notice by the FCRHA date a Lien is recorded Tenant shall fail to Tenantcontest with due diligence the validity or amount of any such Lien or claimed Lien, then, in addition to any other right or remedy, the FCRHA Landlord may, but shall not be obligated required to, discharge contest the validity or amount of any such Lien or claimed Lien or settle or compromise the same either by paying without inquiring into the validity of the claim or the reasonableness of the amount claimed to be due or by procuring the discharge of thereof. All such lien by deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so sums paid by the FCRHA, including Landlord and all reasonable costs and expenses incurred by the FCRHA it in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, therewith shall constitute be Additional Costs Rent and shall be paid payable to Landlord by Tenant to the FCRHA within ten (10) days after on demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Discharge of Liens. If any mechanic’smechanics’, laborer’s laborers’, or materialmanmaterialmen’s lien (other than a lien arising out of any work performed by the FCRHADistrict-Created Lien) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises District’s interest in the Project Site or any part thereof or in connection with the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated tothe Tenant’s activities thereon, the FCRHA, Tenant, within forty-five (45) 30 days after notice of the filing thereof thereof, shall elect to contest the same or cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If the Tenant does not contest such lien and shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedyremedy of the District hereunder, the FCRHA District 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 deposit or by bonding proceedings, and in any such event, event the FCRHA District shall be entitled, if the FCRHA District so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs attorneys’ fees, costs, and allowances. Any amount so paid by the FCRHA, including District and all reasonable costs and expenses incurred by the FCRHA District in connection therewith, including reasonable attorneys’ fees together with interest thereon at one percent (1%) per annum above the Involuntary prime rate of interest quoted from time to time by Bank of America, New York, as Bank of America’s Prime Rate, from the respective dates of the FCRHADistrict’s making of the payment or incurring of the costs cost and expensesexpense, shall constitute Additional Costs additional rent payable by the Tenant under this Ground Lease and shall be paid by the Tenant to the FCRHA District within ten fifteen (1015) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltieswritten demand therefor.
Appears in 1 contract
Samples: Ground Lease Agreement (Pinnacle Entertainment Inc)
Discharge of Liens. If any mechanic’smechanics’, laborer’s laborers’, or materialmanmaterialmen’s lien (other than a lien arising out of any work performed by the FCRHADistrict-Created Lien) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises District’s interest in the Project Site or any part thereof or in connection with the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated tothe Tenant’s activities thereon, the FCRHA, Tenant, within forty-five (45) 30 days after notice of the filing thereof thereof, shall elect to contest the same or cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If the Tenant does not contest such lien and shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedyremedy of the District hereunder, the FCRHA District 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 deposit or by bonding proceedings, and in any such event, event the FCRHA District shall be entitled, if the FCRHA District so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor lien holder with interest, costs attorneys’ fees, costs, and allowances. Any amount so paid by the FCRHA, including District and all reasonable costs and expenses incurred by the FCRHA District in connection therewith, including reasonable attorneys’ fees together with interest thereon at one percent (1%) per annum above the Involuntary prime rate of interest quoted from time to time by Bank of America, New York, as Bank of America’s Prime Rate, from the respective dates of the FCRHADistrict’s making of the payment or incurring of the costs cost and expensesexpense, shall constitute Additional Costs additional rent payable by the Tenant under this Ground Lease and shall be paid by the Tenant to the FCRHA District within ten fifteen (1015) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltieswritten demand therefor.
Appears in 1 contract
Discharge of Liens. If any mechanic’sSubject to the tenant's rights under the Tenant Lease, laborer’s Mortgagor shall pay, from time to time when the same shall become due, all claims and demands of mechanics, materialmen, laborers and others which, if unpaid, would result in or materialman’s lien (other than permit the creation of a lien arising out of any work performed by on the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project Mortgaged Property or any part thereof, oror on the revenues, rents, royalties, issues, income and profits arising therefrom, and in general will do or cause to be done everything necessary so that the first lien of the Second Mortgage shall be fully preserved at the sole cost and expense of Mortgagor and without expense to Mortgagee. Subject to the tenant's rights under the Tenant Lease, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets ofsuch liens are filed, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall Mortgagor will cause the same to be permanently discharged of record by paymentpayment or otherwise, depositunless Mortgagor shall in good faith and at its own expense, be contesting such lien or liens or the validity thereof by appropriate legal proceedings which shall operate to prevent the collection thereof or other realization thereon or the sale or forfeiture of the Mortgaged Property or any part thereof to satisfy the same; provided that during such contest Mortgagor shall provide either (a) an indemnity bond, order title insurance or other security reasonably satisfactory to Mortgagee to cover the amount of a court the contested item or items and the amount of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the interest and penalties covering the period aforesaid, and if through which such lien shall continue for an additional ten (10) days after notice by the FCRHA proceedings may be expected to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedingslast, and in any event assuring the discharge of Mortgagor's obligation under this Section 4.6 and of any additional charge, penalty or expense arising from or incurred as a result of such eventcontest; and if Mortgagor shall have posted a bond as security against payment of any such lien, the FCRHA interest, penalties and other charges related thereto, Mortgagee shall be entitlednamed as an additional obligee under the bond; or (b) title insurance specifically insuring the priority of the lien of this Second Mortgage over such lien (but such title insurance shall be sufficient only during the period of such contest). Except as provided above, if Mortgagor will not directly or indirectly create, incur or suffer to exist any lien on the FCRHA so electsMortgaged Property or any part thereof (including without limitation any lien securing the repayment of a loan made to Mortgagor by any partner(s), shareholder(s), officer(s), director(s) or trustee(s) of Mortgagor), whether or not junior to compel the prosecution lien of an action this Second Mortgage, other than the Permitted Exceptions, such other documents as may be executed as further security for the foreclosure of such lien by the lienor and to pay the amount of the judgment Note or in favor of the lienor with interestMortgagee, costs and allowances. Any amount so paid such other matters (if any) as may be expressly permitted by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not any Loan Document or as may be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesapproved by Mortgagee.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Sepracor Inc /De/)
Discharge of Liens. If Tenant shall not create or permit to be created or to remain any lien, encumbrance or charge levied on account of any mechanic’s, laborer’s or materialman’s lien, or any mortgage, conditional bill of sale, title retention agreement, chattel mortgage or security agreement, or otherwise, resulting from any contract or commitment made by Tenant, which might or does constitute a lien, encumbrance or charge upon the Premises, the Common Area or the Building, or the income therefrom. If any lien (other than a lien arising out shall at any time be filed against the Premises or the Building, or any part thereof due to acts or omissions of Tenant, and/or any work performed by the FCRHA) at any time shall be filed in violation or on behalf of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHATenant, Tenant, within forty-five twenty (4520) days after notice of the filing thereof thereof, shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged In the event of record within the period aforesaiddefault by Xxxxxx under this Lease, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, then in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA event Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor lienor, with interest, costs and allowances. In any event, if any suit, action or proceedings shall be brought to foreclosure or enforce such lien (whether or not the prosecution thereof was so compelled by Landlord), Tenant shall, at its sole cost and expense, promptly pay, satisfy and discharge any final judgment entered therein, in default of which Landlord, at its option may do so. Any amount and all amounts so paid by the FCRHALandlord as in this Section provided, including and all reasonable costs and expenses paid or incurred by the FCRHA Landlord in connection therewithwith any or all of the foregoing matters, including, but not limited to, reasonable counsel fees, together with interest thereon at the Involuntary Rate, maximum rate permitted by applicable law from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expensessuch payments, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of Landlord on demand as additional rent under this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesLease.
Appears in 1 contract
Samples: Office Lease Agreement
Discharge of Liens. If any mechanic’smechanics’, laborer’s laborers’, or materialmanmaterialmen’s lien (other than a lien arising out of any work performed by the FCRHADistrict-Created Lien) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises District’s interest in the Project Site or any part thereof or in connection with the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated tothe Tenant’s activities thereon, the FCRHA, Tenant, within forty-five (45) 30 days after notice of the filing thereof thereof, shall elect to contest the same or cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If the Tenant does not contest such lien and shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, then in addition to any other right or remedyremedy of the District hereunder, the FCRHA District 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 deposit or by bonding proceedings, and in any such event, event the FCRHA District shall be entitled, if the FCRHA District so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs attorneys’ fees, costs, and allowances. Any amount so paid by the FCRHA, including District and all reasonable costs and expenses incurred by the FCRHA District in connection therewith, including reasonable attorneys’ fees together with interest thereon at one percent (1%) per annum above the Involuntary prime rate of interest quoted from time to time by Bank of America, New York, as Bank of America’s Prime Rate, from the respective dates of the FCRHADistrict’s making of the payment or incurring of the costs cost and expensesexpense, shall constitute Additional Costs additional rent payable by the Tenant under this Ground Lease and shall be paid by the Tenant to the FCRHA District within ten fifteen (1015) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltieswritten demand therefor.
Appears in 1 contract
Samples: Ground Lease Agreement (Pinnacle Entertainment Inc)
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 16.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.0216.02, Tenant shall not be required to discharge (and the FCRHA Landlord shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: Deed of Lease
Discharge of Liens. If Lessee shall discharge of record by bond or ------------------- otherwise within ten (10) days following the date whereupon Lessee learns of the filing of any mechanic’s, laborer’s 's or materialman’s similar lien (other than a lien arising out of any work performed by the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises for work or any part thereof materials claimed to have been furnished at Lessee's instance to or for the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, benefit of Lessee and/or the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwisePremises. If Tenant Lessee shall fail to cause such lien or claim of lien to be so discharged of record or bonded within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, thenperiod, in addition to any other right or remedyremedy it may have, the FCRHA Lessor 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 or claim by deposit in court or by bonding proceedingsbonding, and and, in any such event, the FCRHA Lessor shall be entitled, if the FCRHA Lessor so elects, to compel the prosecution of an any action for the foreclosure of such lien or claim by the lienor lien or claimant and to pay the amount of the judgment judgment, if any, in favor of the lienor lien or, with interest, costs and allowances. Any amount Lessee shall pay as additional rent, on demand from time to time, any sum or sums so paid by the FCRHA, including Lessor and all reasonable costs and expenses incurred by the FCRHA Lessor, including, but not limited to, attorneys' fees and expenses in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment prosecuting such discharge or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demandin defending any such action. Notwithstanding the foregoing provisions of this Section 15.02foregoing, Tenant Lessee shall not be required entitled to discharge (and the FCRHA shall not pay or discharge) dispute any such lien if Tenant is in good faith contesting liens against the same and has furnished a cash deposit or Premises so long as Lessee secures it obligations by posting a security bond or other such security reasonably satisfactory acceptable to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesLessor.
Appears in 1 contract
Samples: Lease Agreement (Chancellor Corp)
Discharge of Liens. If any mechanic’sEach Agent, laborer’s in both its individual capacity and in its capacity as Agent, will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall any Lessor Lien attributable to it, and will promptly take such action as may be filed in violation necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Lessor for the benefit of the Lessee and the Participants (as their interests may appear) in the amount of any diminution of the value of the Leased Property as a result of its failure to comply with its obligations under this Section 6.2(a). The Lessor will not create or permit to exist at any time any Lessor Lien attributable to it, and will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Lessee and the Rent Assignees (as their interests may appear) in the amount of Tenant pursuant any diminution of the value of the Leased Property as a result of its failure to comply with its obligations under this Section 15.01 against 6.2(a). Each of the Premises Rent Assignees covenants as to itself, and not jointly with any other Rent Assignee, that it will not create or permit to exist at any part thereof time, any Lessor Lien attributable to it and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Lessor for the benefit of the Lessee and the other Participants (as their interests may appear) in the amount of any diminution of the value of the Leased Property or the Project Site as a result of its failure to discharge or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail all Lessor Liens attributable to cause such lien it pursuant to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demandthis Section 6.2(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Participants and/or the Agents, Tenant as the case may be, shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Lessor Lien while the same is being contested by a Permitted Contest in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same sale, forfeiture, loss or diminution in value of, and has furnished a cash deposit shall not interfere with the use, operation or disposition of, any part of the Leased Property or the Site, the Lease or title thereto or any interest therein or the payment of Rent; provided, however, that each Participant and each Agent shall discharge any such Lessor Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of the Leased Property by the Lessee pursuant to the Lease or a security bond or other such security reasonably satisfactory sale of the Leased Property pursuant to the FCRHA in an amount sufficient Lease including pursuant to pay such lien with interest and penaltiesthe Return Option.
Appears in 1 contract
Discharge of Liens. 6.5.1 If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Reserved Landlord Estate, the fee underlying the Demised Premises or the Existing Ground Lease Properties, any lands subject to the easement granted to Tenant, or any part thereof as the result of (i) Tenant’s failure to pay costs, charges, assessments, expenses or other consideration due and payable in connection with utility services provided to or consumed at the Demised Premises or the Project Existing Ground Lease Properties or (ii) any Tenant Work, Alteration by, or other action of, Tenant or any part thereofof Tenant’s subtenants, orlicensees, if contractors, subcontractors or other Person acting on behalf of any public improvement lien created of the foregoing, unless relating to work being performed on behalf of Landlord or permitted for which Landlord is liable and for which Landlord has not made timely payment to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, Tenant shall, in those circumstances, and subject to its right to contest the same in accordance with the provisions of Section 6.5.3 hereof, within forty-five ninety (4590) days after receipt of written notice of the filing thereof shall thereof, cause the same to be discharged of record by payment, deposit, bond, order record. If the lienor of any such lien shall commence an action for the foreclosure of such lien and shall have obtained a judgment with respect thereto from a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenantjurisdiction, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA event Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including Landlord with all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, Default Rate from the respective dates of the FCRHA’s making of Landlord giving notice that it has made the payment or of the incurring of the costs and expenses, shall constitute Additional Costs Charges payable by Tenant under this Lease and shall be paid by Tenant to the FCRHA Landlord within ten thirty (1030) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien demand together with interest and penaltiessupporting documentation.
Appears in 1 contract
Discharge of Liens. If any mechanic’sSubject to the tenant's rights under the Tenant Lease, laborer’s Mortgagor shall pay, from time to time when the same shall become due, all claims and demands of mechanics, materialmen, laborers and others which, if unpaid, would result in or materialman’s lien (other than permit the creation of a lien arising out of any work performed by on the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project Mortgaged Property or any part thereof, oror on the revenues, rents, royalties, issues, income and profits arising therefrom, and in general will do or cause to be done everything necessary so that the first lien of the Mortgage shall be fully preserved at the sole cost and expense of Mortgagor and without expense to Mortgagee. Subject to the tenant's rights under the Tenant Lease, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets ofsuch liens are filed, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall Mortgagor will cause the same to be permanently discharged of record by paymentpayment or otherwise, depositunless Mortgagor shall in good faith and at its own expense, be contesting such lien or liens or the validity thereof by appropriate legal proceedings which shall operate to prevent the collection thereof or other realization thereon or the sale or forfeiture of the Mortgaged Property or any part thereof to satisfy the same; provided that during such contest Mortgagor shall provide either (a) an indemnity bond, order title insurance or other security reasonably satisfactory to Mortgagee to cover the amount of a court the contested item or items and the amount of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged of record within the interest and penalties covering the period aforesaid, and if through which such lien shall continue for an additional ten (10) days after notice by the FCRHA proceedings may be expected to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedingslast, and in any event assuring the discharge of Mortgagor's obligation under this Section 4.6 and of any additional charge, penalty or expense arising from or incurred as a result of such eventcontest; and if Mortgagor shall have posted a bond as security against payment of any such lien, the FCRHA interest, penalties and other charges related thereto, Mortgagee shall be entitlednamed as an additional obligee under the bond; or (b) title insurance specifically insuring the priority of the lien of this Mortgage over such lien (but such title insurance shall be sufficient only during the period of such contest). Except as provided above, if Mortgagor will not directly or indirectly create, incur or suffer to exist any lien on the FCRHA so electsMortgaged Property or any part thereof (including without limitation any lien securing the repayment of a loan made to Mortgagor by any partner(s), shareholder(s), officer(s), director(s) or trustee(s) of Mortgagor), whether or not junior to compel the prosecution lien of an action this Mortgage, other than the Permitted Exceptions, such other documents as may be executed as further security for the foreclosure of such lien by the lienor and to pay the amount of the judgment Note or in favor of the lienor with interestMortgagee, costs and allowances. Any amount so paid such other matters (if any) as may be expressly permitted by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not any Loan Document or as may be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesapproved by Mortgagee.
Appears in 1 contract
Discharge of Liens. If any mechanic’s's, laborer’s 's, materialman's, or materialman’s other similar lien (other than a lien arising out of any work performed by the FCRHA) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 recorded against the Leased Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHA, Tenant, within forty-five thirty (4530) days after notice of the filing thereof thereof, shall cause the same to be discharged of record by payment, deposit, bond, insurance over, or order of a court of competent jurisdiction or otherwise. In the event Landlord receives notice of any lien filed with respect to the Leased Premises, Landlord shall send such notice to Tenant and to any Leasehold Mortgagee of which Tenant has provided notice to Landlord pursuant to Article 22. If Tenant shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord 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 deposit or by bonding proceedings, and in any such event, the FCRHA Landlord shall be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, reasonable costs and allowances. Any amount so paid by the FCRHA, including Landlord and all reasonable costs and expenses expenses, including but not limited to attorneys' fees, incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, rate of twelve percent (12%) per annum from the respective dates of the FCRHA’s Landlord's making of the payment or incurring of the costs cost and expensesexpense, shall constitute Additional Costs additional rent payable by Tenant under this Lease and shall be by paid by Tenant to the FCRHA Landlord within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesnotice.
Appears in 1 contract
Samples: Assignment and Assumption of Lease And (Aei Income & Growth Fund 25 LLC)
Discharge of Liens. If Each of the Participants covenants as to itself, and not jointly with any mechanic’sother Participant, laborer’s that it will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall time, and will, at its own cost and expense, promptly take such action as may be filed in violation of the obligations of Tenant pursuant necessary duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall all Certificate Trustee Liens attributable to it and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, Trust Estate in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor any diminution of the lienor value thereof as a result of its failure to comply with interestits obligations under this Section 6.2(a). Certificate Trustee, costs in its trust capacity, will not create or permit to exist at any time, and allowances. Any will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Certificate Trustee Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of any diminution of the FCRHA’s making value thereof as a result of its failure to comply with its obligations under this Section 6.2(a). The Bank, in its individual capacity, will not create or permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Certificate Trustee Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the payment value thereof as a result of its failure to comply with its obligations under this Section 6.2(a). Agent, in its individual capacity, will not create or incurring permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Certificate Trustee Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant value thereof as a result of its failure to the FCRHA within ten (10) days after demandcomply with its obligations under this Section 6.2(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Participants, Tenant Certificate Trustee, Agent or the Bank, as the case may be, shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Certificate Trustee Lien while the same is being contested in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same sale, forfeiture or loss of, and has furnished a cash deposit shall not interfere with the use or disposition of, any part of the Premises, the Lease or the Trust Estate or title thereto or any interest therein or the payment of Rent; provided, however, that each Participant, Agent, Certificate Trustee and the Bank shall discharge any such Certificate Trustee Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of the Premises by Lessee pursuant to the Lease or a security bond or other such security reasonably satisfactory sale pursuant to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesSale Option.
Appears in 1 contract
Discharge of Liens. If any mechanic’s, laborer’s or materialman’s lien (other than a lien arising out of any work performed by the FCRHALandlord) at any time shall be is filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall will be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenant, within forty-five (45) 45 days after notice of the filing thereof shall will cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall will fail to cause such lien to be discharged of record within the period aforesaid45-day period, and if such lien shall continue continues for an additional ten (10) days Business Days after notice by the FCRHA Landlord to Tenant, then, in addition to any other right or remedy, the FCRHA Landlord may, but shall is not be obligated to, discharge the same lien either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA shall Landlord will be entitled, if the FCRHA Landlord so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHALandlord, including all reasonable costs and expenses incurred by the FCRHA Landlord in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHALandlord’s making of the payment or incurring of the costs and expenses, shall will constitute Additional Costs and shall will be paid by Tenant to the FCRHA Landlord within ten (10) days Business Days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall will not be required to discharge (and the FCRHA shall Landlord will not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA Landlord in an amount sufficient to pay such lien with interest and penalties.
Appears in 1 contract
Samples: www.fairfaxcounty.gov
Discharge of Liens. If Each of the Certificate Purchasers covenants ------------------ as to itself, and not jointly with any mechanic’sother Certificate Purchaser, laborer’s that it will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall time, and will, at its own cost and expense, promptly take such action as may be filed in violation of the obligations of Tenant pursuant necessary duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated toall Lessor Liens attributable to it, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, Trust Estate in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of any diminution of the judgment value thereof as a result of its failure to comply with its obligations under this Section 11.5(b). Lessor will not create or permit to exist at any --------------- time, and will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it, and will cause restitution to be made to the Trust Estate in the amount of any diminution of the value thereof as a result of its failure to comply with its obligations under this Section 11.5(b). Notwithstanding the foregoing, neither Lessor nor --------------- any of the Certificate Purchasers, as the case may be, shall be required to so discharge any such Lessor Lien while the same is being contested in good faith by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the impairment of any Lien on the Leased Property in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates Lessor or of the FCRHA’s making sale, forfeiture or loss of, and shall not interfere with the use or disposition of, any portion of the Leased Property, the Lease or the Trust Estate or title thereto or any interest therein or the payment of Rent; provided, however, that Lessor and each Certificate -------- ------- Purchaser shall discharge any such Lessor Lien attributable to it, whether or incurring not subject to contest as provided above, upon the purchase of the costs and expenses, shall constitute Additional Costs and shall be paid Leased Property by Tenant Lessee pursuant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesLease.
Appears in 1 contract
Samples: Lease Agreement (Alco Standard Corp)
Discharge of Liens. If Section 10.01: Tenant and Landlord shall not suffer or permit any mechanic’s's, laborer’s 's or materialman’s lien (other than a lien arising out ' s liens to stand against the Demised Premises, or arty part thereof, or against the interest of Tenant or Landlord in the Demised Premises by reason of any work performed by work, labor, services or materials done for, or supplied to, or claimed to have been done for, or supplied to, Tenant, Landlord or anyone holding the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Demised Premises or any part thereof through or under Tenant or Landlord. If any such lien shall at any time be filed against the Project Demised Premises or any part thereof, oror against the interest of Tenant or Landlord therein, if any public improvement lien created Tenant or permitted to be created by Tenant shall be filed against any assets ofLandlord, or funds appropriated toas the ease may be, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien name to be discharged of record within thirty (30).days after the period aforesaid.date of the filing of the same or the date Tenant or Landlord has actual notice of same, and if (whichever is later) by either deposit or bond. If Tenant or Landlord shall fail to discharge any such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenantwithin such period, then, in addition to any other right or remedyremedy of Tenant or Landlord, the FCRHA Tenant or Landlord may, as the case may be, but shall shaI1 not be obligated to, procure the discharge of the same either by paying bonding. Any amount paid or deposited by Landlord or Tenant for may of the amount claimed to be due aforesaid purposes, and all costs and other expenses of Landlord or by Tenant, including reasonable counsel fees, in defending may such action or in or about procuring the discharge of such lien by deposit or by bonding proceedingslien, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA necessary disbursements in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to payable as Additional Rent or credited against the FCRHA within ten (10) days after demand. Notwithstanding installment of base rent, as the foregoing provisions of this Section 15.02case may be, Tenant shall not be required to discharge (and on the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesnext succeeding rent payment date.
Appears in 1 contract
Samples: Lease (Greenfield Online Inc)
Discharge of Liens. If Subtenant shall give written notice to Sublandlord of the date on which any mechanic’sconstruction requiring the prior written consent of Sublandlord will be commenced at least ten (10) days prior to such date. Subtenant shall keep the Premises and the Building free from mechanics', laborer’s or materialman’s lien (materialmen's and all other than a lien liens arising out of any work performed performed, labor supplied, materials famished or other obligations incurred by Subtenant. Sublandlord shall have the FCRHA) at any time shall be filed in violation of the obligations of Tenant pursuant right to Section 15.01 against post and keep posted on the Premises any notices that may be provided by law or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted which Sublandlord may deem to be created by Tenant shall be filed against any assets of, or funds appropriated toproper for the protection of Sublandlord, the FCRHA, Tenant, within forty-five (45) days after notice of Premises and the filing thereof Building from such liens. Subtenant shall cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause promptly and fully pay and discharge all claims on which any such lien to could be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedingsbased, and in case of any such eventlien attaching or notice of any lien, Subtenant covenants and agrees to cause it to be immediately released and removed of record. Notwithstanding anything to the FCRHA shall be entitledcontrary set forth in this Sublease, if in the FCRHA so elects, to compel the prosecution of an action for the foreclosure of event that such lien is not released and removed by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment bond or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA otherwise within ten (10) days after demand. Notwithstanding the foregoing provisions written notice of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is delivered by Sublandlord to Subtenant, Sublandlord may, without waiving its rights and remedies based upon such breach by Subtenant and without releasing Subtenant from any of its obligations, immediately take all action necessary to release and remove such lien, without any duty to investigate the validity thereof, and all sums, costs and expenses, including reasonable attorneys' fees and costs, incurred by Sublandlord in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay connection with such lien with interest shall be deemed additional rent under this Sublease and penaltiesshall immediately be due and payable by Subtenant.
Appears in 1 contract
Samples: Vitalstream Holdings Inc
Discharge of Liens. If Each of the Participants covenants as to itself, and not jointly with any mechanic’sother Participant, laborer’s that it will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall time, and will, at its own cost and expense, promptly take such action as may be filed in violation of the obligations of Tenant pursuant necessary duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall all Lessor Liens attributable to it and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, Trust Estate in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor any diminution of the lienor value thereof as a result of its failure to comply with interestits obligations under this SECTION 6.4(a). Certificate Trustee, costs in its individual capacity or in its trust capacity, will not create or permit to exist at any time, and allowances. Any will promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of any diminution of the FCRHA’s making value thereof as a result of its failure to comply with its obligations under this SECTION 6.4(a). Agent, in its individual capacity, will not create or permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the payment or incurring value thereof as a result of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant its failure to the FCRHA within ten (10) days after demandcomply with its obligations under this SECTION 6.4(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Participants, Tenant Certificate Trustee, in its individual capacity or in its trust capacity, or Agent shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Lessor Lien while the same is being contested in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same sale, forfeiture or loss of, and has furnished a cash deposit shall not interfere with the use or disposition of, any part of the Leased Property, the Lease or the Trust Estate or title thereto or any interest therein or the payment of Rent; PROVIDED, HOWEVER, that each Participant, Agent, and Certificate Trustee, in its individual capacity or in its trust capacity, shall discharge any such Lessor Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of the Leased Property, by Lessee pursuant to the Lease or a security bond or other such security reasonably satisfactory sale pursuant to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesSale Option.
Appears in 1 contract
Samples: Participation Agreement (Remec Inc)
Discharge of Liens. If any mechanic’s, laborer’s, vendor’s, materialman’s or materialman’s similar statutory lien (other than including tax liens, provided the underlying tax is an obligation of Tenant by law or by a lien arising out provision of any work performed this Lease) not caused or suffered to be created by the FCRHA) at any time shall be Landlord is filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises or any part thereof or the Project or any part thereof, or, or if any public improvement lien created created, or permitted caused or suffered to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHALandlord, Tenantthen, Tenant shall, within forty-five (45) days after receipt of notice of the filing thereof shall of such mechanic’s, laborer’s, vendor’s, materialman’s or similar statutory lien or public improvement lien, cause the same it to be vacated or discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If However, Tenant shall fail not be required to discharge any such liens if Tenant shall have (a) furnished Landlord with, at Tenant’s option, a cash deposit, bond, letter of credit from an Institutional Lender (in form reasonably satisfactory to Landlord) or other security (such as a personal guaranty reasonably satisfactory to Landlord in an amount sufficient to discharge the lien with interest and penalties) and (b) brought an appropriate proceeding to discharge such lien and is prosecuting such proceeding with diligence and continuity; except that if, despite Tenant’s efforts to seek discharge of the lien, Landlord reasonably believes such lien is about to be foreclosed and so notifies Tenant, Tenant shall immediately cause such lien to be discharged of record within or Landlord may use the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice security furnished by the FCRHA Tenant in order to Tenant, then, in addition to any other right or remedy, the FCRHA may, but shall not be obligated to, so discharge the same either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances. Any amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltieslien.
Appears in 1 contract
Discharge of Liens. (a) If any mechanic’s's, laborer’s 's, vendor's, materialman's or materialman’s similar statutory lien (other than a lien arising out of any work performed by including tax liens, provided the FCRHA) at any time shall be filed in violation of the obligations underlying tax is an obligation of Tenant pursuant to Section 15.01 by law or by a provision of this Lease) is filed against the Premises or any part thereof or the Project or any part thereof, or, or if any public improvement lien created created, or permitted caused or suffered to be created by Tenant shall be filed against any assets of, or funds appropriated to, the FCRHATenant or Owner, TenantTenant shall, within forty-five thirty (4530) days after Tenant receives notice of the filing thereof shall of such mechanic's, laborer's, vendor's, materialman's or similar statutory lien or public improvement lien, cause the same it to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If However, Tenant shall fail not be required to discharge any such lien if Tenant shall have (a) furnished Owner with, at Tenant's option, a cash deposit, bond, letter of credit from an Institutional Lender (in form reasonably satisfactory to Owner) or other security (such as a personal guaranty or title company indemnity) reasonably satisfactory to Owner, in an amount sufficient to pay the lien with interest and penalties and (b) brought an appropriate proceeding to discharge such lien and is prosecuting such proceeding with diligence and continuity; except that if, despite Tenant's efforts to seek discharge of the lien, Owner reasonably believes that a court judgment or order foreclosing such lien is about to be entered or granted and so notifies Tenant, Tenant shall, within ten (10) days after notice to such effect from Owner (but not later than three (3) business days prior to the entry or granting of such judgment or order of foreclosure), cause such lien to be discharged of record or Owner may thereafter discharge the lien in accordance with Section 24.2 and look to the security furnished by Tenant for reimbursement of its cost in so doing. Notwithstanding anything to the contrary contained in this Section 17.2(a), in the case of a public improvement lien which provides for installment payments as a means of satisfying such lien, Tenant shall be required only to pay, on a timely basis, all installments when due. (b) Notwithstanding anything to the contrary contained in Section 17.2, if any mechanic's, laborer's, vendor's, materialman's or similar statutory lien (including tax liens, provided the underlying tax is an obligation of Owner by law or by a provision of this Lease) is filed against the Premises or any part thereof or Tenant's interest therein as a result of any action of Owner, its officers, employees, representatives or agents, Owner shall, within the period aforesaid, and if such lien shall continue for an additional ten thirty (1030) days after Owner receives notice of the filing of such mechanic's, laborer's, vendor's, materialman's or similar statutory lien, cause it to be discharged of record by the FCRHA payment, deposit, bond, order of a court of competent jurisdiction or otherwise. However, Owner shall not be required to discharge any such lien if Owner shall have (i) furnished Tenant with, at Owner's option, a cash deposit, bond, letter of credit from an Institutional Lender (in form reasonably satisfactory to Tenant) or other security (such as a personal guaranty or title company indemnity) reasonably satisfactory to Tenant, then, in addition to any other right or remedy, the FCRHA may, but shall not be obligated to, discharge the same either by paying the an amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and sufficient to pay the amount lien with interest and penalties and (ii) brought an appropriate proceeding to discharge such lien and is prosecuting such proceeding with diligence and continuity; except that if, despite Owner's efforts to seek discharge of the lien, Tenant reasonably believes that a court judgment in favor of the lienor with interestor order foreclosing such lien is about to be entered or granted and so notifies Owner, costs and allowances. Any amount so paid by the FCRHAOwner shall, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of the FCRHA’s making of the payment or incurring of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant to the FCRHA within ten (10) days after demandof notice to such effect from Tenant (but not later than three (3) business days prior to the entry or granting of such judgment or order of foreclosure), cause such lien to be discharged of record or Tenant may thereafter discharge the lien in accordance with Section 24.2 and look to the security furnished by Owner for reimbursement of its cost in so doing. Notwithstanding 70 F:\MlNSKERIC.M.BIP ARKONElPOGROUNDlEASE.EXEC 12-1.DOC m: 1893m~2 498 Section 17.3 No Authority to Contract in Name of Owner. Nothing contained in this Article shall be deemed or construed to constitute the foregoing provisions consent or request of this Section 15.02Owner, express or implied, by implication or otherwise, to any contractor, subcontractor, laborer or materialman for the performance of any labor or the furnishing of any materials for any specific improvement of, alteration to, or repair of, the Premises or any part thereof, nor as giving Tenant any right, power or authority to contract for, or permit the rendering of, any services or the furnishing of materials that would give rise to the filing of any lien, mortgage or other encumbrance against Owner's interest in the Land or any part thereof or against assets of Owner, or Owner's interest in any Rental and/or Impositions. Notice is hereby given, and Tenant shall cause all Construction Agreements to provide, that to the extent enforceable under Florida law, Owner shall not be required liable for any work performed or to discharge (be performed at the Premises or any part thereof for Tenant or any Master Subtenant or for any materials furnished or to be furnished to the Premises or any part thereoffor any of the foregoing, and no mechanic's, laborer's, vendor's, materialman's or other similar statutory lien for such work or materials shall attach to or affect Owner's interest in the FCRHA Land or any part thereof or any assets of Owner, or Owner's interest in any Rental and/or Impositions: The foregoing shall not pay require Tenant to request advance waivers oflien from contractors or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penalties.subcontractors. Article 18 -
Appears in 1 contract
Samples: docmgmt.miamibeachfl.gov
Discharge of Liens. If any mechanic’smechanics', laborer’s laborers', or materialman’s materialmen's lien (other than a lien arising out of any work performed by the FCRHADistrict-Created Lien) shall at any time shall be filed in violation of the obligations of Tenant pursuant to Section 15.01 against the Premises District's interest in the Project Site or any part thereof or in connection with the Project or any part thereof, or, if any public improvement lien created or permitted to be created by Tenant shall be filed against any assets of, or funds appropriated tothe Tenant's activities thereon, the FCRHA, Tenant, within forty-five (45) 30 days after notice of the filing thereof thereof, shall elect to contest the same or cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If the Tenant does not contest such lien and shall fail to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, in addition to any other right or remedyremedy of the District hereunder, the FCRHA District 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 deposit or by bonding proceedings, and in any such event, event the FCRHA District shall be entitled, if the FCRHA District so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor lien holder with interest, costs attorneys' fees, costs, and allowances. Any amount so paid by the FCRHA, including District and all reasonable costs and expenses incurred by the FCRHA District in connection therewith, including reasonable attorneys' fees together with interest thereon at one percent (1%) per annum above the Involuntary prime rate of interest quoted from time to time by Bank of America, New York, as Bank of America's Prime Rate, from the respective dates of the FCRHA’s District's making of the payment or incurring of the costs cost and expensesexpense, shall constitute Additional Costs additional rent payable by the Tenant under this Ground Lease and shall be paid by the Tenant to the FCRHA District within ten fifteen (1015) days after demand. Notwithstanding the foregoing provisions of this Section 15.02, Tenant shall not be required to discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant is in good faith contesting the same and has furnished a cash deposit or a security bond or other such security reasonably satisfactory to the FCRHA in an amount sufficient to pay such lien with interest and penaltieswritten demand therefor.
Appears in 1 contract
Discharge of Liens. If Each of the Participants covenants as to itself, and not jointly with any mechanic’sother Participant, laborer’s that it will not create or materialman’s lien (other than a lien arising out of any work performed by the FCRHA) permit to exist at any time shall time, and will, at its own cost and expense, promptly take such action as may be filed in violation of the obligations of Tenant pursuant necessary or reasonable duly to Section 15.01 against the Premises discharge, or any part thereof or the Project or any part thereof, or, if any public improvement lien created or permitted to cause to be created by Tenant shall be filed against any assets ofdischarged, or funds appropriated to, the FCRHA, Tenant, within forty-five (45) days after notice of the filing thereof shall all Lessor Liens attributable to it and will cause the same restitution to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail made to cause such lien to be discharged of record within the period aforesaid, and if such lien shall continue for an additional ten (10) days after notice by the FCRHA to Tenant, then, Trust Estate in addition to any other right or remedy, the FCRHA 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 deposit or by bonding proceedings, and in any such event, the FCRHA shall be entitled, if the FCRHA so elects, to compel the prosecution of an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor any diminution of the lienor value thereof as a result of its failure to comply with interestits obligations under this Section 6.2(a). Certificate Trustee, costs will not create or permit to exist at any time, and allowances. Any will promptly take such action as may be necessary or reasonable duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount so paid by the FCRHA, including all reasonable costs and expenses incurred by the FCRHA in connection therewith, together with interest thereon at the Involuntary Rate, from the respective dates of any diminution of the FCRHA’s making value thereof as a result of its failure to comply with its obligations under this Section 6.2(a). The Bank will not create or permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary or reasonable duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the payment value thereof as a result of its failure to comply with its obligations under this Section 6.2(a). Agent, in its individual capacity, will not create or incurring permit to exist at any time, and will, at its own cost and expense, promptly take such action as may be necessary duly to discharge, or to cause to be discharged, all Lessor Liens attributable to it and will cause restitution to be made to the Trust Estate in the amount of any diminution of the costs and expenses, shall constitute Additional Costs and shall be paid by Tenant value thereof as a result of its failure to the FCRHA within ten (10) days after demandcomply with its obligations under this Section 6.2(a). Notwithstanding the foregoing provisions foregoing, none of this Section 15.02the Participants, Tenant Certificate Trustee, Bank and Agent as the case may be, shall not be required to so discharge (and the FCRHA shall not pay or discharge) any such lien if Tenant Lessor Lien while the same is being contested in good faith contesting by appropriate proceedings diligently prosecuted so long as such proceedings shall not involve any meaningful danger of the same sale, forfeiture, loss or diminution in value of, and has furnished a cash deposit shall not interfere with the use, operation or disposition of, any part of the Items of Equipment, the Lease or the Trust Estate or title thereto or any interest therein or the payment of Rent; provided, however, that each Participant, Agent, and Certificate Trustee and the Bank shall discharge any such Lessor Lien attributable to it, whether or not subject to contest as provided above, upon the purchase of the Items of Equipment by Lessee pursuant to the Lease or a security bond or other such security reasonably satisfactory sale of the Items of Equipment pursuant to the FCRHA in an amount sufficient to pay such lien with interest and penaltiesSale Option or foreclosure.
Appears in 1 contract