Government Lien Sample Clauses

Government Lien. A notice of lien, levy or assessment 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 xxxxxx or otherwise, upon any of Borrower's assets and the same is not paid on the payment date thereof;
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Government Lien. A notice of lien, levy or assessment is filed of record against any Borrower’s or 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 tax or debt owing at any time hereafter to anyone becomes a lien, whether cxxxxx or otherwise, upon any Borrower’s or Guarantor’s assets and the lien is not paid on the payment due date, except amounts that are being contested in good faith by appropriate legal or administrative proceedings.
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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 cxxxxx 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.
Sample 1
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 cxxxxx or otherwise, upon any of Borrower’s or a Guarantor’s assets and the same is not paid on the payment date thereof;
Sample 1
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;
Sample 1
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 xx xxx paid on the payment date thereof and removed within thirty (30) days;
Sample 1
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;
Sample 1
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Related to Government Lien

  • Government Action Any government authority takes action that the Bank believes materially adversely affects the Borrower's (or any guarantor's) financial condition or ability to repay.

  • No Government Obligors None of the Receivables is due from the United States or any state or local government, or from any agency, department or instrumentality of the United States or any state or local government.

  • Government Obligations 4 Holder..........................................................................................

  • Government Accounts Accounts that are the obligation of an Account Debtor that is the United States government or a political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless Agent, in its sole discretion, has agreed to the contrary in writing, or the applicable Credit Party has complied with respect to such obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting the assignment thereof with respect to such obligation;

  • No Government Obligor No Receivable is due from the United States or any State or from any agency, department or instrumentality of the United States or any State.

  • Government Consent No order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by, any governmental or public body or authority is required on the part of the Borrower to authorize, or is required in connection with the execution, delivery and performance of, or the legality, validity, binding effect or enforceability of, the Loan Documents.

  • GOVERNMENT PERMITS The Company and its subsidiaries possess such certificates, authorities or permits issued by the appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct the business now operated by them, other than those which the failure to possess or own would not have, individually or in the aggregate, a Company MAE. Neither the Company nor any of its subsidiaries has received any notice of proceedings relating to the revocation or modification of any such certificate, authority or permit which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in a Company MAE.

  • Government Funding No government funding, facilities or resources of a university, college, other educational institution or research center or funding from third parties was used in the development of the Company’s Proprietary Assets and no governmental entity, university, college, other educational institution or research center has any claim or right in or to the Company’s Proprietary Assets.

  • Government Consents Borrower and each Subsidiary have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of Borrower’s business as currently conducted, except where the failure to do so would not reasonably be expected to cause a Material Adverse Effect.

  • Deposited Money and Government Obligations to Be Held in Trust Subject to the provisions of the last paragraph of Section 10.05, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 13.05, the "TRUSTEE") pursuant to Section 13.04 in respect of the Outstanding Securities of a particular series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 13.04 or the principal and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of such series. Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Obligations held by it as provided in Section 13.04 with respect to Securities of any series which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited for the purpose for which such money or Government Obligations were deposited.

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