Lien or Charge Clause Samples
A Lien or Charge clause establishes a party's legal right to retain possession of property or assets until a debt or obligation is satisfied. In practice, this means that if a party, such as a contractor or supplier, is not paid for goods or services provided, they may hold or claim an interest in the relevant property as security for payment. This clause is commonly used in construction, supply, or financing agreements to protect the interests of parties who have provided value but have not yet been compensated. Its core function is to secure payment and reduce the risk of non-payment by granting a form of collateral until obligations are fulfilled.
Lien or Charge. Except as explicitly agreed by the Company as set forth herein, no Securities or other investments held in the Account will be subject to any lien or charge in favor of the Custodian.
Lien or Charge. Except as explicitly agreed by the Company as set forth herein, no Securities or other investments held in the Account will be subject to any lien or charge in favor of the Custodian. Authorized Signer’s Resolution Fifth Third Bank National Association June 2022