Common use of Liens and Liabilities Clause in Contracts

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest such lien, proceeding or claim, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Instrument and by all other Documents securing all or any part of the Obligations. Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to Borrower. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents.

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest such lien, proceeding or claim, Borrower shall promptly notify Lender of such contest and thereafter shall, upon LenderXxxxxx’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect LenderXxxxxx’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim as aforesaid, Lender may do so and any and all expenses incurred by LenderXxxxxx, together with interest thereon at the Default Rate from the date advanced by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Instrument and by all other Documents securing all or any part of the Obligations. Nothing in the Documents shall be deemed or construed as constituting the consent or request by LenderXxxxxx, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Property. Borrower Xxxxxxxx further agrees that Lender Xxxxxx does not stand in any fiduciary relationship to BorrowerXxxxxxxx. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents.

Liens and Liabilities. Borrower shall pay (or cause to be paid) when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Borrower’s Individual Property or the its Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Borrower’s Individual Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide (or cause to be promptly provided) a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority (and shall cause Property Manager to do the same). Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Borrower’s Individual Property. Borrower further agrees that Lender does not stand in any fiduciary Prudential Loan Nos. 706109322, 706109323, 706109324, 706109325, 706109326, 706109327, 706109328, 706109329, 706109333, 706109334, 706109335 and 706109336 CNL BV Portfolio Loan Agreement relationship to BorrowerBorrower or Property Manager. Any contributions made, directly or indirectly, to Borrower or Property Manager by or on behalf of any of its their partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or its Individual Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance.

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding claim or claimdemand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful, unless the lien has already been bonded off in which case no additional security shall be required. If Borrower shall fail to immediately discharge or provide security against any such claim or demand within sixty (60) days after the filing of a mechanic’s lien, proceeding Lender or claim as aforesaid, Lender Trustee may do so and any and all expenses incurred by LenderLender or Trustee, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by this Instrument and its priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by LenderLender or Trustee, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any Prudential Loan No. 706108495 Clarendon Center/Deed of Trust 14 material for any improvement, construction, alteration, or repair of the Property. Borrower further agrees that neither Lender does not stand nor Trustee stands in any fiduciary relationship to Borrower. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity or Affiliate Loans (to the extent permitted by Section 5.01 hereof) and shall be subordinate and inferior to the rights of Lender under the Documents.

Liens and Liabilities. Borrower shall pay (or cause to be paid) when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Borrower’s Individual Property or the its Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Borrower’s Individual Property nor any interest therein would be in any danger of sale, loss or Prudential Loan Nos. 706109321 - 706109336 CNL BV Portfolio Amended and Restated Loan Agreement forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide (or cause to be promptly provided) a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority (and shall cause Property Manager to do the same). Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Borrower’s Individual Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to BorrowerBorrower or Property Manager. Any contributions made, directly or indirectly, to Borrower or Property Manager by or on behalf of any of its their partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or its Individual Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance.

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding claim or claimdemand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon LenderXxxxxx’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect LenderXxxxxx’s interest and security should the contest be unsuccessful, unless the lien has already been bonded off in which case no additional security shall be required. If Borrower shall fail to immediately discharge or provide security against any such claim or demand within sixty (60) days after the filing of a mechanic’s lien, proceeding Lender or claim as aforesaid, Lender Trustee may do so and any and all expenses incurred by LenderLender or Trustee, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by BorrowerXxxxxxxx, shall be immediately paid by Borrower on demand and shall be secured by this Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by this Instrument and its priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by LenderLender or Trustee, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any Prudential Loan No. 706108495 Clarendon Center/Deed of Trust material for any improvement, construction, alteration, or repair of the Property. Borrower Xxxxxxxx further agrees that Lender does not stand neither Xxxxxx nor Trustee stands in any fiduciary relationship to BorrowerXxxxxxxx. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity or Affiliate Loans (to the extent permitted by Section 5.01 hereof) and shall be subordinate and inferior to the rights of Lender under the Documents.

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to Borrower. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or the Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof reasonably satisfactory to Lender of such compliance.

Liens and Liabilities. Borrower shall pay (or cause to be paid) when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Borrower’s Individual Property or the its Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Borrower’s Individual Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide (or cause to be promptly provided) a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority (and shall cause Property Manager to do the same). Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Borrower’s Individual Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to BorrowerBorrower or Property Manager. Any contributions made, directly or indirectly, to Borrower or Property Manager by or on behalf of any of its their partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents.. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or its Individual Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance. Prudential Loan Nos. 706109321 - 706109336 and 706109394 CNL BV Portfolio Second Amended and Restated Loan Agreement

Liens and Liabilities. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Borrower’s Individual Property or the its Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Borrower’s Individual Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Borrower’s Individual Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to Borrower. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or its Individual Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance.

Liens and Liabilities. Borrower shall pay (or cause to be paid) when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Borrower’s Individual Property or the its Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Borrower’s Individual Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide (or cause to be promptly provided) a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so so, and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority (and shall cause Property Manager to do the same). Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Borrower’s Individual Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to BorrowerBorrower or Property Manager. Any contributions made, directly or indirectly, to Borrower or Property Manager by or on behalf of any of its their partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents. Without limiting Lender’s rights and remedies under Article VI of this Agreement, Article III of the Instrument or otherwise, if Borrower or its Individual Property fails to comply with the requirements of this Section 3.09, then Lender may impose additional requirements upon Borrower including monetary reserves or financial equivalents, until such time as Lender receives proof satisfactory to Lender of such compliance.

Liens and Liabilities. Borrower shall pay when due due, and in all events prior to the date any lien is filed in connection therewith, all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Property or the Improvements (collectively, “Property Payables”); provided, however, that Borrower shall have the right to contest in good faith any such claim or demandProperty Payables, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event that a mechanic’s or materialman's lien or similar proceeding is filed against the Property, or a claim is filed against Borrower or any Recourse Parties, and Borrower shall contest any such lien, proceeding or claimProperty Payables, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such lien, proceeding or claim Property Payables as aforesaid, then Lender may do so after reasonable notice (not less than five (5) Business Days) to Borrower of its intention to do so (except that shorter notice shall be permitted or no prior notice shall be required if Lender determines in its sole discretion [exercised in good faith] that immediate action is necessary for the protection or preservation of the Property or for protection of Lender’s security interest in the Property or interest under the Documents), and any and all expenses incurred by Lender, together with interest thereon at the Default Rate from the date advanced incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this the Instrument and by all other Documents securing all or any part of the Obligations. Borrower shall, at its sole expense, do everything necessary to preserve the lien and security interest created by the Instrument and the other Documents and their priority. Nothing in the Documents shall be deemed or construed as constituting the consent or request by Lender, express or implied, to any contractor, subcontractor, laborer, mechanic or materialman for the performance of any labor or the furnishing of any material for any improvement, construction, alteration, or repair of the Property. Borrower further agrees that Lender does not stand in any fiduciary relationship to Borrower. Any contributions made, directly or indirectly, to Borrower by or on behalf of any of its partners, members, principals or any party related to such parties shall be treated as equity and shall be subordinate and inferior to the rights of Lender under the Documents.