Liens and Mortgages. Seller shall have secured release of all liens and mortgages listed on Schedule 1B and released all obligations of Reserves LLC and the Partnerships under the Seller's credit facility and provided Buyer evidence of the same.
Liens and Mortgages. (a) Tenant’s Liens. Tenant shall not (i) by any failure to act or by any act, other than the mere hiring of a material or service provider, allow any materialman’s or mechanic’s liens, or (ii) by any act or failure to act allow any other liens, deeds of trust, mortgages, or other encumbrances, to be placed on the whole or any portion of the Premises during the term of this Lease.
Liens and Mortgages. (a) Charterer covenants that it will, at all times, at its own cost and expense, warrant and defend Shipowner’s title to the Vessels and all components thereof during the Charter Period, and all right, title and interest of Shipowner in, to and under any charter assignment, insurances assignment or other assignment given by Charterer to Shipowner in connection with this Demise Charter or the Vessels, and in any way relating to any thereof, against the claims, liens and demands of all Persons, which obligation shall survive Redelivery and termination of this Demise Charter; provided, however, that Charterer shall not have any responsibility in respect of Shipowner’s Liens.
(b) Without prejudice to the rights of Shipowner under Article 14, neither Charterer, the master of any Vessel, nor any other Person has or shall have any right, power or authority, without the prior written consent of Shipowner, to create, incur or permit to be placed or imposed upon any Vessel any mortgage, lien, charge or other encumbrance whatsoever other than Permitted Liens, nor shall Shipowner have any right, power or authority so to do. During the Charter Period, Charterer agrees to carry a true copy of this Demise Charter with the ship’s papers on board each of the Vessels and to exhibit the same on demand to any Person having business with the Vessels which may give rise to a maritime lien upon the Vessels, and on demand to any representative of Shipowner. Charterer shall also place and keep prominently exhibited in the master’s cabin and the chart room of each of the Vessels, or at another appropriate place or places on board the Vessels, a printed notice which will be substantially in the following form: This Vessel is owned by TTC Trust, Ltd., a Connecticut statutory trust, acting by and through State Street Bank and Trust Company of Connecticut, National Association, as trustee (“Shipowner”), and is under demise charter to TECO Ocean Shipping, Inc., a Florida corporation (“Charterer”). Under the terms of said demise charter, neither Charterer, any other charterer, the master or agent of this Vessel nor any other person (other than Shipowner) has any right, power or authority to create, incur or permit to be placed or imposed upon this Vessel any lien whatsoever other than Permitted Liens as defined in said demise charter, including liens for wages of a stevedore when employed directly by Charterer or the operator, master or agent of this Vessel, for wages of the crew in resp...
Liens and Mortgages. SECTION 10.01. Tenant will not create or permit to be created or to remain, and will discharge, any lien, encumbrance or charge which might be or become a charge on the interest of Landlord under the Lease; provided, however, nothing herein shall require payment by Tenant of any lien or encumbrance created by Landlord.
SECTION 10.02. If any mechanic's, laborer's or materialman's lien shall at any time be filed against the Property or any part thereof, Tenant, if Landlord shall so require, within ninety (90) days after commencement of foreclosure action thereon, whichever shall first occur, will cause the same to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. If Tenant shall fail to cause such lien to be discharged within such period, then, in addition to any other right or remedy which Landlord may have under this Lease or otherwise, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or by procuring the discharge of such lien by deposit or by bonding proceedings, and in any such event Landlord shall be entitled, if Landlord so elects, to compel the prosecution f an action for the foreclosure of such lien by the lienor and to pay the amount of the judgment in favor of the lienor with interest, costs and allowances, and recover such sums from Tenant including the cost of discharge by deposit or bond, plus interest, as herein above provided.
Liens and Mortgages. The improvements shall not be subject to any mortgage, deed of trust, or other lien or encumbrance affecting title to the improvements or which appears on title pursuant to a title commitment of the land that cannot be satisfied out of the appraised value of the improvements or that the Department otherwise determines to be unacceptable or render continuing to public auction impracticable. The improvements shall be conveyed by a Bill of Sale, free of all liens and encumbrances, at the time of closing. No additional encumbrances or other adverse title conditions will be placed against the title to the improvements subsequent to the date of this Agreement.
Liens and Mortgages. Create, incur, assume or suffer to exist, any mortgage, security interest, pledge, lien, charge or other encumbrance of any nature whatsoever on any of its assets, now or hereafter owned, other than (a) liens in favor of the Bank; (b) liens under workmen’s compensation, unemployment insurance and social security or similar laws; (c) liens imposed by law, such as carriers, warehousemen’s or mechanic’s liens, incurred in good faith in the ordinary course of business which are not past due for more than thirty (30) days or which are being contested in good faith by appropriate proceedings, a stay of execution having been served; and (d) purchase money security interests to secure borrowings permitted under Article XI(C)(3) herein.
Liens and Mortgages. Incur, create, assume or suffer to exist any mortgage, pledge, lien, attachment, charge or other encumbrance of any nature whatsoever on any of the Collateral, now or hereafter owned, other than: (1) the security interests or liens granted to the Lender pursuant to the Loan Documents; (2) deposits under Worker’s Compensation, Unemployment Insurance and Social Security laws; (3) liens imposed by law, such as carriers, warehousemen’s or mechanic’s liens incurred in good faith in the ordinary course of business and which do not, in the aggregate, have a material adverse effect on the Borrower’s financial condition or the Collateral; and, (4) the Permitted Encumbrances.
Liens and Mortgages. 23.1 The Concessionaire shall not assign or grant, and is hereby prohibited from assigning or granting, any mortgages, liens, encumbrances or security interests in the Premises, the Premises Improvements, and the rents, receipts and profits derived therefrom, except as is expressly permitted by Article VII of the Master Concession Agreement.
23.2 The BOR’s title in and to the Premises is and always shall be paramount to the rights and interests of the Concessionaire and nothing contained in this Lease shall empower the Concessionaire to do any act which can, shall or may encumber the title of the BOR. The Concessionaire covenants and agrees not to suffer or permit any lien of mechanics or materialmen to be placed upon or against the Premises, the Premises Improvements or against the Concessionaire’s leasehold interest in the Project and, in case of any such lien attaching, the Concessionaire shall discharge, within thirty (30) days (by payment or by filing the necessary bond, or otherwise), any mechanics’, materialmen’s or other lien against the Project and/or the BOR’s interest therein, which lien may arise out of any payment due for any labor, services, materials, supplies, or equipment furnished to or for the Concessionaire in, upon, or about the Project; provided, however, that if said lien has not been discharged or bonded-over or otherwise secured within thirty (30) days, then the BOR may elect in writing delivered to the Concessionaire to satisfy such lien and the Concessionaire shall reimburse the BOR for the actual costs incurred in connection therewith. Such sums shall be deemed to be Additional Rent due and payable by the Concessionaire at once without notice or demand.
Liens and Mortgages. Except as provided in this Condition 21, the Lessee shall not: (a) engage in any financing or other transaction creating any mortgage upon the Leased Premises, (b) place or suffer to be placed upon the Leased Premises any lien or other encumbrance; or (c) suffer any levy or attachment to be made on the Lessee's interest in the Leased Premises, other than such levy or attachment as may result from a foreclosure of a mortgage on any portion of the Leased Premises subject to a sublease. Any such mortgage, encumbrance, or lien shall be deemed to be a violation of this covenant and constitute a failure to comply with the terms of the Lease on the date of its execution or filing of record regardless of whether or when it is foreclosed or otherwise enforced.
Liens and Mortgages. LESSEE shall not cause or allow any liens of any kind or nature whatsoever to attach to the property during the term of this lease, except in connection with financing transactions as discussed below. In the event that any prohibited lien is placed against the property, LESSEE shall immediately cause the lien to be released. LESSEE shall immediately refund to KPB any monies that KPB may, at its sole discretion, pay in order to discharge any such lien, including all related costs and a reasonable sum for attorney’s fees. For the purpose of interim or permanent financing of improvements to be placed upon the leased property, and for no other purpose, LESSEE, after giving written notice thereof to KPB, may encumber by mortgage, deed of trust, assignment or other appropriate instrument, LESSEE's interest in the leased premises and in and to this Lease, provided such encumbrance pertains only to such leasehold interest and does not pertain to or create any interest in KPB's title to or interest in the leased property. Any such encumbrance shall be entirely subordinate to KPB's rights and interest in the leased property. A leasehold mortgagee, beneficiary of a deed of trust or security assignee shall have and be subrogated to any and all rights of the LESSEE with respect to the curing of any default hereunder by LESSEE. In the event of cancellation or forfeiture of this Lease for cause, the holder of a properly recorded mortgage, deed of trust, or assignment will have the option to acquire the Lease for the unexpired term thereof, subject to the same terms and conditions as in the original instrument.
