Common use of Liens and Notices of Non-Responsibility Clause in Contracts

Liens and Notices of Non-Responsibility. Except as otherwise agreed in writing, Owner and Gentor agree to keep the Premises at all times free and clear of liens for materials furnished and labor done or work performed upon the Premises at the request of or for the benefit of Gentor, and to pay all indebtedness and liabilities incurred by or for them which may or might become a lien, charge or encumbrance against the Premises before such indebtedness and liabilities shall become a lien, charge, or encumbrance; provided, however, that Gentor need not discharge or release any such lien, charge or encumbrance; so long as Gentor is contesting the same. Nothing stated herein shall prohibit Gentor from pledging its interest in this Agreement as security for any indebtedness of Gentor incurred for the purpose of the exploration, development or mining of the Premises. Owner may post upon the Premises and keep posted thereon in a conspicuous place a notice of non-responsibility which will be prepared by Owner; and Gentor will, in the event such notice is destroyed or removed, upon finding same, notify Owner. The parties agree that Owner shall be informed immediately of the execution of this Agreement by Gentor in order that Owner can properly and timely record a notice of non-responsibility in the office of the county recorder of the county in which the Premises are located. Nothing herein shall be construed to prevent Gentor from assigning, pledging, encumbering or otherwise transferring its interest in this Agreement or the Premises for the purpose of acquiring financing for its activities or operations on the Premises, which assignment, pledge, encumbrance or transfer are expressly authorized hereunder.

Liens and Notices of Non-Responsibility. Except as otherwise agreed in writing, Owner and Gentor Lessee agree to keep the Premises at all times free and clear of liens for materials furnished and labor done or work performed upon the Premises at the request of or for the benefit of GentorLessee, and to pay all indebtedness and liabilities incurred by or for them which may or might become a lien, charge or encumbrance against the Premises before such indebtedness and liabilities shall become a lien, charge, or encumbrance; provided, however, that Gentor Lessee need not discharge or release any such lien, charge or encumbrance; so long as Gentor Lessee is contesting the same. Nothing stated herein shall prohibit Gentor Lessee from pledging its interest in this Agreement as security for any indebtedness of Gentor Lessee incurred for the purpose of the exploration, development or mining of the Premises. Owner may post upon the Premises and keep posted thereon in a conspicuous place a notice of non-responsibility which will be prepared by Owner; and Gentor Lessee will, in the event such notice is destroyed or removed, upon finding same, notify Owner. The parties agree that Owner shall be informed immediately of the execution of this Agreement by Gentor Lessee in order that Owner can properly and timely record a notice of non-responsibility in the office of the county recorder of the county in which the Premises are located. Nothing herein shall be construed to prevent Gentor Lessee from assigning, pledging, encumbering or otherwise transferring its interest in this Agreement or the Premises for the purpose of acquiring financing for its activities or operations on the Premises, which assignment, pledge, encumbrance or transfer are expressly authorized hereunder.

Liens and Notices of Non-Responsibility. Except as otherwise agreed in writing, Owner and Gentor Lessee agree to keep the Premises Property at all times free and clear of liens for materials furnished and labor done or work performed upon the Premises Property at the request of or for the benefit of GentorLessee, and to pay all indebtedness and liabilities incurred by or for them which may or might become a lien, charge or encumbrance against the Premises Property before such indebtedness and liabilities shall become a lien, charge, or encumbrance; provided, however, that Gentor Lessee need not discharge or release any such lien, charge or encumbrance; so long as Gentor Lessee is contesting the same. Nothing stated herein shall prohibit Gentor Lessee from pledging its interest in this Agreement as security for any indebtedness of Gentor Lessee incurred for the purpose of the exploration, development or mining of the PremisesProperty. Owner may post upon the Premises Property and keep posted thereon in a conspicuous place a notice of non-responsibility which will be prepared by Owner; and Gentor Lessee will, in the event such notice is destroyed or removed, upon finding same, notify Owner. The parties agree that Owner shall be informed immediately of the execution of this Agreement by Gentor Lessee in order that Owner can properly and timely record a notice of non-responsibility in the office of the county recorder of the county in which the Premises Property are located. Nothing herein shall be construed to prevent Gentor Lessee from assigning, pledging, encumbering or otherwise transferring its interest in this Agreement or the Premises Property for the purpose of acquiring financing for its activities or operations on the PremisesProperty, which assignment, pledge, encumbrance or transfer are expressly authorized hereunder.