Mechanics and Materialmen Clause Samples

Mechanics and Materialmen. Seller will, at Closing, provide Buyer and the Title Company with a standard Affidavit as to Liens and Parties in Possession certified to Buyer and the Title Company or such other assurances as shall be sufficient to cause the Title Company to delete the mechanics' liens and parties in possession standard exceptions from the Policy to be issued to Buyer at closing.

Mechanics and Materialmen. At Closing, Grantor will not be indebted to any contractor, laborer, mechanic, materialmen, architect, or engineer for work, labor, or services performed or rendered, or for materials supplied or furnished, in connection with the property for which any person could claim a lien against the property.

Mechanics and Materialmen. No services, materials or work have been supplied by contractors, subcontractors or materialmen with respect to any of the Hospitality Units for which an invoice has been rendered and for which payment is not delinquent.

Mechanics and Materialmen. Borrower will furnish to Lender, within thirty (30) days after receipt of written, reasonably detailed demand, such reasonable affidavits of Borrower (or to the extent obtained from any Contractor or subcontractor, of Contractor or subcontractor) listing, to Borrower’s or such other affiant’s best knowledge, all materialmen, laborers, subcontractors and any other parties who could claim statutory or common law liens and are furnishing or have furnished material or labor to the Property or any portion thereof (within the preceding statutory period applicable to timely filed liens), together with affidavits, or other evidence reasonably satisfactory to Lender, showing that: (a) Borrower is challenging any noted or potential liens or claims in accordance with Section 5.10(d) hereof; (b) that such parties have been paid all amounts or portions thereof then due for labor and materials furnished to the Property; and/or (c) that such parties will be paid out of funds to be disbursed in connection with an ensuing Draw, all amounts or portions thereof then due for labor and materials furnished to the Property. In addition, Borrower will notify Lender promptly, and in writing, if Borrower receives any written notice, from any laborer, subcontractor or materialman to the effect that said laborer, subcontractor or materialman has not been paid when due for any labor or materials furnished in connection with the Improvements if such claim for payment exceeds $25,000; and Borrower will furnish to Lender, in connection with any Draw request, conditional (as to sums pending or to become due in the ensuing Draw) lien waivers bearing a then current date (i.e., within thirty (30) days) and prepared on Lender's standard form (a copy of which is attached hereto as Exhibit “E” and by this reference made a part hereof), and, within forty-five (45) days following receipt of Lender’s written request (not more than once per month), unconditional lien waivers reflecting only such completed payments previously made, from Contractor and such subcontractors or materialmen as Lender may designate; provided, however, such lien waivers shall not be required, unless otherwise required by Lender’s title company, in connection with any payments to such party less than $50,000.