Government Lien Sample Clauses

Government Lien. Except for any Permitted Lien, any notice of lien, levy or assessment is filed of record with respect to any of any Borrower's or any Guarantor's assets by the United States Government or the Canadian Government or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or any taxes or debts owing at any time hereafter to any one or more of such entities becomes a lien, whether inchoate or otherwise, upon any Borrower's or any Guarantor's assets and the same is not paid on the payment date thereof;

Government Lien. A notice of lien, levy or assessment is filed of record with respect to any of Borrowers’ assets by the United States’ or Canadian government, or any department, agency or instrumentality thereof, or by any state, province, county, municipal or other governmental agency or any tax or debt owing at any time hereafter to anyone becomes a lien, whether c▇▇▇▇▇ or otherwise, upon any of either Borrower’s assets and the same is not paid on the payment date thereof and, unless such lien, levy or assessment could in Lender’s counsel’s reasonable opinion, take priority over Lender’s security interest, Borrowers do not obtain a release or discharge the same within 30 days after notice or filing of the same.

Government Lien. A notice of lien, levy or assessment in excess of $25,000.00 is filed of record with respect to any of Borrower's assets by the United States Government, or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or any taxes or debts owing at any time hereafter to any one or more of such entities becomes a lien, whether choate or otherwise, upon any of Borrower's assets and the same ▇▇ ▇▇▇ paid on the payment date thereof and removed within thirty (30) days;

Government Lien. A notice of lien, levy or assessment is filed of record with respect to any of Borrower's or any Guarantor's assets by the United States Government or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or any taxes or debts owing at any time hereafter to any one or more of such entities becomes a lien, whether inchoate or otherwise, upon Borrower's or any Guarantor's assets and the same is not paid on the payment date thereof, unless Borrower or Guarantor contests any such lien, levy or assessment and thereafter appeals from any determination in good faith and diligently and continuously pursues either to conclusion, in which event these shall not constitute an Event of Default provided that during any such contests no government lien shall exist which would have priority over the lien of Lender on the assets of Borrower, or if any such priority lien exists, the amount owing covered by said lien shall be reserved against the amount otherwise available for Advances under the Revolving Credit Facility;

Government Lien. Subject to the terms of the last paragraph of this Section 8, a notice of lien, levy or assessment is filed of record with respect to any of Borrower’s or a Guarantor’s assets by the United States Government, or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or any taxes or debts owing at any time hereafter to any one or more of such entities becomes a lien, whether c▇▇▇▇▇ or otherwise, upon any of Borrower’s or a Guarantor’s assets and the same is not paid on the payment date thereof;

Government Lien. Except for Permitted Liens, a notice of lien, levy or assessment is filed of record with respect to any of Borrower's or Parent's assets by the United States Government or any department, agency or instrumentality thereof, or by any state, county, municipal or other governmental agency, or any taxes or debts owing at any time hereafter to any one or more of such entities becomes a lien, whether inchoate or otherwise, upon Borrower's or any Parent's assets and the same is not paid on the payment date thereof;