Common use of Maintaining Freedom from Liens Clause in Contracts

Maintaining Freedom from Liens. Pledgor shall keep the Pledged Shares owned by such Pledgor free and clear of all liens and encumbrances and shall pay all amounts, including taxes, assessments or charges, which might result in a lien against the Pledged Shares if left unpaid, unless the Pledgor, all at the Pledgor’s expense, is contesting any such amount in good faith by an appropriate proceeding timely instituted and which shall operate to prevent the collection or satisfaction of the lien or amount so contested. If Pledgor fails to pay such amounts and is not contesting the validity of amount thereof in accordance with the preceding sentence, the Bank may, but is not obligated to, pay such amounts, and such payment shall be conclusive evidence of the legality or validity.

Maintaining Freedom from Liens. Pledgor shall keep the Pledged Shares owned by such Pledgor free and clear of all liens and encumbrances except as specified herein, and shall pay all amounts, including taxes, assessments or charges, which might result in a lien against the Pledged Shares if left unpaid, unless the Pledgor, all at the Pledgor’s expense, is contesting any such amount in good faith by an appropriate proceeding timely instituted and which shall operate to prevent the collection or satisfaction of the lien or amount so contested. If Pledgor fails to pay such amounts and is not contesting the validity of amount thereof in accordance with the preceding sentence, the Bank Bankers’ may, but is not obligated to, pay such amounts, and such payment shall be conclusive evidence of the legality or validityvalidity thereof.

Maintaining Freedom from Liens. The Pledgor shall keep the Pledged Shares and the other Collateral owned by such Pledgor free and clear of all liens and encumbrances and shall pay all amounts, including taxes, assessments or charges, which might result in a lien against the Pledged Shares or other Collateral if left unpaid, unless the Pledgor, all at the Pledgor’s 's expense, is contesting any such amount in good faith by an appropriate proceeding timely instituted and which shall operate to prevent the collection or satisfaction of the lien or amount so contested. If the Pledgor fails to pay such amounts and is not contesting the validity of or amount thereof in accordance with the preceding sentence, the Bank may, but is not obligated to, to pay such amounts, and such payment shall be conclusive evidence of the legality or validityvalidity thereof.