Common use of Liens and Mortgages Clause in Contracts

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. SECTION 10.01. Tenant will not create or permit to be created or to remain, and will discharge, any lien, encumbrance 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, thereon 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 of 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 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. 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 of 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.