Common use of Enforcement of Lien Clause in Contracts

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 (114(1) After the Establishment Period, subject to Article 14 (214(2), the Company may sell in such manner as the Directors think fit, any shares on which the Company has a lien. 14 (214(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 (114(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 (214(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.