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Enforcement of Lien Sample Clauses

Enforcement of Lien. 14 (1) After the Establishment Period, subject to Article 14 (2), the Company may sell in such manner as the Directors think fit, any shares on which the Company has a lien. 14 (2) A share on which the Company has a lien shall not be sold unless: (a) a sum in respect of which the lien exists is presently payable; and (b) the Company has not less than fourteen (14) days before the date of the sale given to the registered holder for the time being of the share, or the person entitled thereto by reason of the holder’s death or bankruptcy, a notice in writing stating and demanding payment of such part of the amount in respect of which the lien exists as is presently payable.
Enforcement of Lien. 14(1) After the Establishment Period, subject to Article 14(2), the Company may sell in such manner as the Directors think fit, any shares on which the Company has a lien. 14(2) A share on which the Company has a lien shall not be sold unless:
Enforcement of Lien. If an occupant is in default for a period of at least thirty days, the operator may enforce the lien granted in section 578B.5 by selling the occupant’s personal property. Sale of the occupant’s personal property may be by public or private proceedings. Such personal property may be sold as a unit or in parcels, by way of one or more contracts, at any time or place, and on any terms as long as the sale is commercially reasonable. The operator may otherwise dispose of any property that has no commercial value.
Enforcement of Lien. FOR AND IN CONSIDERATION of the privileges, protections, mutual enjoyment and use of the Common Elements and the premises contained herein, the receipt of which is hereby acknowledged and any assumption of the obligations by transferees as required hereunder and to secure the payment of said Common Expenses, principal, interest, and attorney fees, alien is expressly retained by the Association on each and every Unit Owner's Unit and prorata interest in the Common Elements (referred to in this subparagraph 10(b) as “property”). And now, for the purpose of better and more effectually securing the payment of said lien indebtedness; rendering unnecessary court proceedings for the enforcement of said lien in the event of the non-payment of said indebtedness and payments thereof: as they become due, and for the consideration of one dollar paid in cash receipt of which is acknowledged, the said Unit Owners their heirs, administrators and assigns, hereinafter referred to as trustors, hereby transfer and convey unto Xxxx Xxxxxxx, Xx. Xxxxxxx, his successors and assigns, the property hereinbefore describe with the appurtenances, estate title and interest thereto belonging to the following uses and trusts: Trustors agree to pay their prorate share of Common Expenses when due and further agree to pay all taxes and assessments thereon, general or special and to pay them when due, and, upon demand of said trustee or the lawful owner and holder of said indebtedness, to pay, discharge, or remove., any and all liens (except a First Mortgage or Deed of Trust) which may be hereafter placed against said property and which shall adversely affect the lien of this instrument or enforcement of the terms and provisions hereof; to keep the improvements on said property in good repair and preservation, and in case the trustee or his successors or the lawful owner and holder of said indebtedness shall hereafter be required to appear in any court or tribunal to enforce, or defend the title to, or possession of, said property or the lien of this instrument, or appear in any court to prove the above indebtedness, all the costs and expenses of such appearance or proceedings, together with a reasonable attorney's fee, shall be allowed, and be payable by trustors upon demand of the trustee or lawful owner or holder of said indebtedness, and, upon failure to do any of these things, then said trustee, or the lawful owner and holder of said indebtedness may do any or all of these things and t...
Enforcement of Lien. The Owner of either Parcel 1 or Parcel 2 may bring an action to foreclose any claim of lien against a Parcel in the same manner as foreclosure of a mortgage on real property, and may bring suit on the personal obligation against the applicable Owner; provided, however, that prior to bringing an action to foreclose any claim of lien against a Parcel, the mortgagee of such Parcel shall be provided a notice of default under the Declaration with reasonable opportunity to cure such default (but only to the extent that such mortgagee has provided prior written notice to the Owners of its mortgage lien, together with mailing address for receipt of notice of default).
Enforcement of Lien. Action to enforce a lienholder's claim which has become due against a lessee and which is secured by the owner's lien may be taken by the owner or operator after the lessee has been in default of the rental agreement continuously for a period of sixty (60) days.
Enforcement of LienFor the purpose of enforcing such lien, the directors may sell the shares subject thereto in such manner as they think fit; but no sale shall be made until notice in writing of the intention to sell has been given to such Shareholder, his executors, administrators, successors or assigns and default shall have been made by him or them in the payment, fulfillment or discharge of such debts, liabilities or engagements for seven (7) days after such notice. The net proceeds of any such sale after payment of the cost of such sale shall be applied in or towards the satisfaction of such debts, liabilities or engagements and the residue, if any, paid to such Shareholder or his executors, administrators, successors or assigns.
Enforcement of Lien. If any interest, cost or other charge is not paid as required by this Declaration, the Association may bring either (i) an action at law against the Owner obligated to pay the same, or (ii) an action by suit, judgment and foreclosure to foreclose, in accordance with the law in the same manner as foreclosure of statutory liens for the improvement of real property, any lien created by this Declaration against the Parcel or Parcels subject to the lien, or may bring both actions, for the purpose of collecting Assessments, costs or charges plus any interest thereon and costs of collection, including reasonable attorneys’ fees. The Association shall have the power to bid on the Parcel or Parcels at the foreclosure sale, and to acquire, hold, lease, encumber and convey the same.
Enforcement of LienThe liens provided for in this REA may be filed of record by the party entitled thereto as a claim of lien against the defaulting Owner and Parcel of the defaulting Owner in the Office of the County Recorder of Orange County, signed and verified, which shall contain at least: (i) A statement of the unpaid amount of costs and expenses (which may include reasonable attorneys’ fees and court costs); (ii) A description sufficient for identification of the Parcel of the defaulting Owner which is the subject of the lien; and (iii) The name of the Owner or reputed Owner of the Parcel which is the subject of the alleged lien. Such lien shall be effective and have priority as of the date of recording of such lien, and shall be subordinate to the lien of any mortgage recorded prior thereto. The lien shall be prior and superior to any right, title, interest, lien or claim which may be or has been acquired or attached to such Parcel after the time of filing of such lien. Such lien shall be for the use and benefit of the person filing same, and may be enforced and foreclosed in a suit or action brought in any court of competent jurisdiction.
Enforcement of Lien. (a) Subject to the Corporations Act, the Board may sell or otherwise dispose of any Security the subject of a lien, if: (i) a sum in respect of which the lien exists is due and payable but is unpaid; (ii) the Company has provided notice to the holder: (A) setting out the amount due but unpaid; (B) demanding payment of that amount; and (C) stating that the Security is liable to be sold or otherwise disposed of if payment of that amount is not made within 10 Business Days after the date of the notice; and (iii) the amount specified in the notice is not paid in full in accordance with the notice. (b) The terms on which and manner by which any Security may be sold or otherwise disposed of are to be determined by the directors. (c) Interest accrues and compounds daily at the rate determined by the directors or, if no such rate is determined, at the Default Rate on the amount due but unpaid, costs and expenses incurred in connection with the enforcement of the lien and the sale or other disposal of the Securities. (d) The Company may receive the net proceeds of the sale or other disposal of any Security and execute an instrument of transfer in respect of the Security. The Company must apply the net proceeds of the sale or disposal of any Security in or towards satisfaction of: (i) firstly, costs and expenses paid or payable in connection with the enforcement of the lien and the sale or other disposal of that Security; and (ii) secondly, all amounts due but unpaid and accrued interest on all those amounts. (e) The Company must pay any balance of the net proceeds of sale or other disposal to the person whose Security has been sold or otherwise disposed of. The Company is not required to pay interest on any amount payable under this rule 3.12(e). (f) The purchaser of any Security the subject of a lien is entitled to assume that the proceeds of sale or other disposal have been applied in accordance with this Constitution and is not responsible for the application of the purchase money by the Company.