Common use of Mechanics’ Liens and Contest Thereof Clause in Contracts

Mechanics’ Liens and Contest Thereof. Borrower will not suffer or permit any mechanics’ lien claims to be filed or otherwise asserted against the Property and will promptly discharge the same if any claims for lien or any proceedings for the enforcement thereof are filed or commenced; provided, however, that Borrower shall have the right to contest in good faith and with due diligence the validity of any such lien or claim upon furnishing to the Title Insurer such security or indemnity as it may require to induce the Title Insurer to insure against all such claims, liens or proceedings; and provided further that Lender will not be required to make any further disbursements of the Loan proceeds unless (a) any mechanics’ lien claims shown by any title insurance commitments or interim binders or certifications have been released or insured against by the Title Insurer or (b) Borrower shall have provided Lender with such other security with respect to such claim as may be acceptable to Lender, in its sole discretion.

Mechanics’ Liens and Contest Thereof. Each Borrower will agrees (i) not to suffer or permit any mechanics’ lien claims to be filed or otherwise asserted against the Property and will Parcel owned by it; (ii) to promptly discharge the same, and if applicable, cause the same to be discharged by Tenant in accordance with the provisions of its Approved Lease, as a lien against such Parcel if any claims for lien or any proceedings for the enforcement thereof are filed or commenced; provided, however, that any Borrower or Tenant shall have the right to contest in good faith and with due diligence the validity of any such lien or claim upon furnishing to the Title Insurer being furnished with such security or indemnity as it may require to induce the Title Insurer to insure against all such claims, liens or proceedings; and provided further that Lender will not be required to make any further disbursements of the Loan proceeds unless (a) any mechanics’ lien claims shown by any title insurance commitments or interim binders or certifications have been released or insured against by the Title Insurer or (b) the applicable Borrower shall have provided Lender, or caused Lender to be provided, with such other security with respect to such claim as may be acceptable to Lender, in its sole discretion.

Mechanics’ Liens and Contest Thereof. Borrower will not suffer or permit any mechanics’ ' lien claims to be filed or otherwise asserted against the Property Project and will promptly discharge the same if any claims for lien or any proceedings for the enforcement thereof are filed or commenced; provided, however, that Borrower shall have the right to contest in good faith and with due diligence the validity of any such lien or claim upon furnishing to the Title Insurer such security or indemnity as it may require to induce the Title Insurer to insure against all such claims, liens or proceedings; and provided further that Lender will not be required to make any further disbursements of the Loan proceeds unless (a) any mechanics’ ' lien claims shown by any title insurance commitments or interim binders or certifications have been released or insured against by the Title Insurer or (b) Borrower shall have provided Lender with such other security with respect to such claim as may be acceptable to Lender, in its sole discretion.

Mechanics’ Liens and Contest Thereof. Borrower will not suffer or permit any mechanics’ lien claims to be filed or otherwise asserted against the Property Project and will promptly discharge the same if any claims for lien or any proceedings for the enforcement thereof are filed or commenced; provided, however, that Borrower shall have the right to contest in good faith and with due diligence the validity of any such lien or claim upon furnishing to the Title Insurer such security or indemnity as it may require to induce the Title Insurer to insure against all such claims, liens or proceedings; and provided further that Lender will not be required to make any further disbursements of the Loan proceeds unless (a) any mechanics’ lien claims shown by any title insurance commitments or interim binders or certifications have been released or insured against by the Title Insurer Insurer, or (b) Borrower shall have provided Lender with such other security with respect to such claim as may be acceptable to Lender, in its sole discretion.. Loan Agreement

Mechanics’ Liens and Contest Thereof. Borrower will not suffer or permit any mechanics’ ' lien claims to be filed or otherwise asserted against the Property Project and will promptly discharge the same if any claims for lien or any proceedings for the enforcement thereof are filed or commenced; provided, however, that Borrower shall have the right to contest in good faith and with due diligence the validity of any such lien or claim upon furnishing to the Title Insurer such security or indemnity as it may require to induce the Title Insurer to insure against all such claims, liens or proceedings; and provided further that Lender will not be required to make any further disbursements of the Loan proceeds unless (ax) any mechanics’ ' lien claims shown by any title insurance commitments or interim binders or certifications have been released or insured against by the Title Insurer or (by) Borrower shall have provided Lender with such other security with respect to such claim as may be acceptable to Lender, in its sole discretion.