Common use of Mechanics’ Lien Clause in Contracts

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded or for which no other arrangements satisfactory to the Agent have been made for a period of twenty (20) days after the date of perfection unless the Borrowers exclude the affected Eligible Project from the calculation of the Borrowing Base.

Appears in 2 contracts

Samples: Financing and Security Agreement (American Retirement Corp), Financing and Security Agreement (American Retirement Corp)

AutoNDA by SimpleDocs

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded or for which no other arrangements satisfactory to the Administrative Agent have been made for a period of twenty thirty (2030) days after notice to the date Borrowers from any source of perfection the filing of such Lien unless the Borrowers exclude the affected Eligible Project from the calculation of the Borrowing Base.

Appears in 2 contracts

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded or for which no other arrangements satisfactory to the Agent have been made for a period of twenty (20) days after the date of perfection unless the Borrowers exclude Borrower excludes the affected Eligible Project from the calculation of the Borrowing Base.

Appears in 2 contracts

Samples: Financing and Security Agreement (Alternative Living Services Inc), Financing and Security Agreement (Alternative Living Services Inc)

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded unbonded or for which no other arrangements satisfactory to the Administrative Agent have been made for a period of twenty thirty (2030) days after notice to the date Borrowers from any source of perfection the filing of such Lien unless the Borrowers exclude the affected Eligible Project from the calculation of the Borrowing Base.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded or for which no other arrangements satisfactory to the Agent have been made for a period of twenty (20) days after the date of perfection unless the Borrowers exclude the affected Eligible Project from the calculation of the Borrowing Baseperfection.

Appears in 1 contract

Samples: Master Construction Loan Agreement (Sunrise Assisted Living Inc)

AutoNDA by SimpleDocs

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded unbonded or for which no other arrangements satisfactory to the Administrative Agent have been made for a period of twenty thirty (2030) days after notice to the date of perfection unless the Borrowers exclude the affected Eligible Project from the calculation Borrowers, SDI or SALXX xxom any source of the Borrowing Basefiling of such Lien.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Mechanics’ Lien. A lien for the performance of work or the supply of materials which is perfected against any of the Land remains unsatisfied or un-bonded unbonded or for which no other arrangements satisfactory to the Agent Lender have been made for a period of twenty thirty (2030) days after notice to the date Borrowers from any source of perfection the filing of such Lien unless the Borrowers exclude the affected Eligible Project Facility from the calculation of the Borrowing Base.

Appears in 1 contract

Samples: Financing and Security Agreement (Sunrise Assisted Living Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!