Common use of Discharge of Liens Clause in Contracts

Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to it, provided, that the Borrower and the Trust Company shall not be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any Property or title thereto or any interest therein or the payment of Rent.

Appears in 11 contracts

Samples: Credit Agreement (Rf Micro Devices Inc), Credit Agreement (Rf Micro Devices Inc), Participation Agreement (Correctional Services Corp)

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Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to it, provided, that the Borrower and the Trust Company shall not -------- be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any Property or title thereto or any interest therein or the payment of Rent.

Appears in 3 contracts

Samples: Credit Agreement (Capital One Financial Corp), Credit Agreement (Capital One Financial Corp), Credit Agreement (Us Foodservice/Md/)

Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and each will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to it, provided, that the Borrower and the Trust Company shall not be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any Property or title thereto or any interest therein or the payment of Rent.

Appears in 2 contracts

Samples: Credit Agreement (Sabre Holdings Corp), Credit Agreement (Sabre Holdings Corp)

Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to itLiens, provided, that the Borrower and the Trust Company shall not be required to -------- discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or involving any danger of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any material part of any Property or title thereto or any interest therein or the payment of Rent.

Appears in 1 contract

Samples: Credit Agreement (Us Oncology Inc)

Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to itLiens, provided, that the Borrower and the Trust Company shall not be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or involving any danger of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any material part of any Property or title thereto or any interest therein or the payment of Rent.

Appears in 1 contract

Samples: Credit Agreement (American Oncology Resources Inc /De/)

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Discharge of Liens. Neither the Borrower nor the Trust Company on behalf of the Borrower will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to it, provided, that the Borrower and the Trust Company shall not be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, any Property or title thereto or any interest therein or the payment of Rent.

Appears in 1 contract

Samples: Credit Agreement (Borders Group Inc)

Discharge of Liens. Neither the Borrower nor the Trust Company will create or permit to exist at any time, and will, at its own expense, promptly take such action as may be necessary duly to discharge, or cause to be discharged, all Lessor Liens attributable to it, provided, that the Borrower and the Trust Company shall not be required to discharge any 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 material danger of impairment of any of the Liens contemplated by the Security Documents or of the sale, forfeiture or loss of, and shall not materially interfere with the disposition of, the Property or any Property portion thereof or title thereto or any interest therein or the payment of Rent.

Appears in 1 contract

Samples: Credit Agreement (Veritas Software Corp /De/)

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