Lien Enforcement Sample Clauses

Lien Enforcement. Notwithstanding anything to the contrary set forth in this Agreement, including, without limitation, subsection 2.7 hereof, but subject in any event to subsection 21.1 hereof: (a) Until Payment in Full of all Senior Indebtedness, except as otherwise expressly permitted in subsections 21.6(b) and (c) below, other than Permitted Subordinated Indebtedness Payments, in each case to the extent permitted at the time of payment thereof to be paid to and received and retained by Subordinated Creditor pursuant to the other terms and provisions of this Agreement, neither Subordinated Agent nor the Subordinated Creditor shall ask, demand or s▇▇ for any right or remedy in respect of all or any part of the Shared Collateral and Subordinated Agent and the Subordinated Creditor agree not to take or receive from any Obligor, directly or indirectly, in cash or other Property or by set-off or in any other manner, whether pursuant to any enforcement, collection, execution, levy or foreclosure proceeding or otherwise, all or any part of the Shared Collateral. Without limiting the generality of the foregoing, until Payment in Full of all Senior Indebtedness, (i) neither Subordinated Agent nor the Subordinated Creditor shall exercise or otherwise assert any right or remedy in respect of all or any part of the Shared Collateral or any Liens thereon; (ii) the sole right of Subordinated Agent and Subordinated Creditor with respect to the Shared Collateral shall be to hold a Lien thereon to the extent granted pursuant to the Subordinated Indebtedness Documents (until such time as such Lien is released or required to be released pursuant to Section 21.3 hereof) and to receive proceeds thereof remaining after such Payment in Full; and (iii) without the prior written consent of Senior Agent, neither Subordinated Agent nor the Subordinated Creditor shall exercise any right such Person may have under the Subordinated Indebtedness Documents or under the UCC or other applicable law to deliver any notices to account debtors informing them of such Person’s interest in any accounts of any Obligor or direct such account debtors to make payments in any particular manner of amounts due in respect of any such account. (b) Subordinated Agent and the Subordinated Creditor each agrees that, until Payment in Full of all Senior Indebtedness, such Person will not commence, or join with any creditor other than Senior Agent in commencing, any enforcement, collection, execution, levy or foreclosure proce...

Lien Enforcement. If, prior to the time that full payment for repair services has been made, Velocity elects, in its sole and exclusive discretion, to release possession of the aircraft part or component, the parties mutually agree that this release of possession constitutes a good and valuable benefit in favor of the customer. For consideration of this benefit, the parties mutually agree that the customer knowingly and intentionally waives any right to contest the validity of any mechanic’s lien recorded pursuant to Florida law due to Velocity’s failure to have actual possession of the aircraft parts or components at the time the mechanic’s lien is recorded.

Lien Enforcement. If an Owner fails to pay an Annual Assessment (or any installment), any Individual Assessment, and any other sum due from such Owner under this Declaration, the Association may enforce and foreclose the lien granted under Section 12.3 in any manner permitted by the laws of Virginia or by an action in the name of the Association. The Association may foreclose notwithstanding the pendency of any suit to recover a money judgment. The Association may bid on the Lot at foreclosure or other legal sale and may acquire, hold, lease, mortgage, convey or otherwise deal with such Lot.

Lien Enforcement. If, prior to the time that full payment for repair services has been made, BAM elects, in its sole and exclusive discretion, to release possession of the aircraft or component, the parties mutually agree that this release of possession constitutes a good and valuable benefit in favor of the customer. For consideration of this benefit, the parties mutually agree that the customer knowingly and intentionally waives any right to contest the validity of any mechanic’s lien recorded pursuant to Florida law due to BAM’s failure to have actual possession of the aircraft at that time. Regardless of whether BAM relinquishes possession of the aircraft prior to receipt of full payment for repair services, BAM is entitled to maintain possession of the original aircraft or component logbooks until such time as full payment is received.

Lien Enforcement. Any assessment made against any Lot Owner for that owner’s share of the Road Maintenance Costs shall be a lien and charge upon the Lot against which each such assessment is made, which lien shall continue until the assessment is paid and shall be the personal obligation of the Lot Owner. Notwithstanding anything herein to the contrary, mediation and arbitration shall not be required for any civil action to enforce payment of the delinquent assessment or to foreclose the lien against the Lot, and there shall be added to the amount of such assessment due all costs of collection. In the event a judgment is obtained, such judgment shall include interest on the assessment, together with all attorney's fees and expenses and costs of the action.

Lien Enforcement