Lien Holdback in Trust. That portion, if any, of the Purchase Price required by law to be held back by the Purchaser in respect of builders lien claims (the “Lien Holdback”) shall be paid to the Seller’s solicitors on the Completion Date, to be held in trust pursuant to the Strata Property Act and the Builders Lien Act of British Columbia (or successor statutes) solely on account of claims of builders liens registered against title to the Strata Lot prior to the expiration of the applicable lien holdback period in respect of work done or materials supplied at the request of the Seller.
