Liens and Subordination. (a) As of the date hereof, the Term Loan Representative holds a singular Lien against the Other Collateral and the RCF Priority Collateral for the benefit of the Term Loan Secured Parties, subject to the terms and conditions of this Agreement, and the RCF Representative holds a singular Lien against the Other Collateral and the RCF Priority Collateral for the benefit of the RCF Secured Parties, subject to the terms and conditions of this Agreement.
Liens and Subordination. The Easement Area is, as of the Easement Date, free and clear of all Liens or, if it is not, that Owners have obtained and recorded in the Public Records the legally binding subordination of any mortgage, lien, or other encumbrance affecting the Easement Area as of the Easement Date.
Liens and Subordination. The undersigned Owner or Owners warrant to Holder that the Trail Area is, as of the Agreement Date, free and clear of all Liens or, if it is not, that Owners have obtained and attached to this Agreement as an exhibit the legally binding subordination of any mortgage, lien, or other encumbrance affecting the Trail Area as of the Agreement Date.
Liens and Subordination. Code. A qualified conservation contribution must be enforceable in perpetuity under §170(h)(5)(A) of the Code. Under Regulation §1.170A-14(g)(2) this requirement is satisfied in the case of mortgaged property (with respect to which the mortgagee has not subordinated its rights) only if the donor can demonstrate that the conservation purpose is protected in perpetuity without subordination of the mortgagee’s rights. • Subordination of Liens. Even if no charitable contribution is being claimed, Xxxxxx would want assurance that the trail easement could not be extinguished by foreclosure of a lien prior in right. Standard 9 Practice H of S&P provides that mortgages, liens, and other encumbrances that could result in extinguishment of the easement or significantly undermine the important conservation values of the property must be discharged or properly subordinated to the easement. • Time. Owners should be advised of this requirement early in the process. Satisfaction of this requirement frequently requires substantial time and effort. • Form. PALTA intends to make available a model form of subordination on its website xxx.xxxxxxxxxxxx.xxx. No particular form is required by the Regulations. • S&P. Standard 9. Practice H. of S&P provides that the land trust should investigate title to each property for which it intends to acquire title or an easement to be sure that it is negotiating with the legal owners and to uncover liens, mortgages, mineral or other leases, water rights and/or other encumbrances or matters of record that may affect the transaction.
Liens and Subordination. The Trail Easement Area is, as of the Easement Date, free and clear of all liens or, if it is not, that the Property Owner has obtained and attached to this Agreement as an exhibit the legally binding subordination of any lien affecting the Trail Easement Area as of the Easement Date.
Liens and Subordination. Lessee shall promptly pay all labor and material costs and save Lessor free from any and all liens. All permanent additions shall become part of the leasehold and shall be left at the termination of this Lease. Lessor shall not subordinate Lessor’s interest in the Property during the Term of this Lease or during the term of the Deed of Trust utilized in conjunction with the purchase option.
Liens and Subordination. Grantor warrants to Grantee that the Easement Area is, as of the date of this agreement, free and clear of all liens or, if it is not, that Grantor has obtained and attached to this agreement as an exhibit the legally binding subordination of any mortgage, lien or other encumbrance affecting the Easement Area as of the date of this agreement.
