ENCUMBRANCES OR LIENS; NOTICE. STI shall not pledge, encumber, or create a security interest in, or permit any lien to become effective on any leased property. If any of these events takes place, STI shall be deemed to be in default at the option of MDC. STI shall promptly notify MDC of any liens, charges, or other encumbrances of which STI has knowledge. STI shall promptly pay or satisfy any obligation from which any lien or encumbrance arises, and shall otherwise keep the property and all right, title, and interest free and clear of all liens, charges, and encumbrances. STI shall deliver to MDC appropriate satisfactions, waivers, or evidence of payment.
Appears in 6 contracts
Samples: Equipment Lease (Simple Technology Inc), Equipment Lease (Simple Technology Inc), Equipment Lease (Simple Technology Inc)
