INTEREST AND LIENS Sample Clauses

INTEREST AND LIENS. 87. In the event that there are monies due from the Subdivider to the Municipality which have not been paid within thirty (30) days after receipt by the Subdivider of a demand therefor by the Municipality, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date of receipt of the demand and the amount due together with interest thereon shall constitute a lien upon the Phase II Land.
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INTEREST AND LIENS. 16 10.01 Interest 16 10.02 Liens 16
Sample 1
INTEREST AND LIENS. 88. In the event that there are monies due from the Developer to the Municipality which have not been paid on or before the date on which such monies are due, interest shall be payable on the amount due at the rate of one and one quarter (1¼%) per cent per month, compounded monthly, (equivalent effective annual rate of 16.08%) determined and calculated from the date on which such monies were due and the amount due together with interest thereon shall constitute a debt to the Municipality and priority lien owing to the Municipality.
Sample 1

Related to INTEREST AND LIENS

  • Liens Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

  • Bills and Liens Contractor shall pay promptly all indebtedness for labor, materials and equipment used in performance of the Work. Contractor shall not permit any lien or charge to attach to the Work or the premises, but if any does so attach, Contractor shall promptly procure its release and, in accordance with the requirements of Article 22 above, indemnify, defend, and hold County harmless and be responsible for payment of all costs, damages, penalties and expenses related to or arising from or related thereto.

  • Security Interests No party to this Escrow Agreement shall grant a security interest in any monies or other property deposited with the Escrow Agent under this Escrow Agreement, or otherwise create a lien, encumbrance or other claim against such monies or borrow against the same.

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