No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"): (a) Liens at any time existing in favor of Lender; (b) Liens which are listed in Exhibit "F" attached hereto; (c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender; (d) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds; (e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and (f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consent.
Appears in 4 contracts
Samples: Loan Agreement (CNL Retirement Properties Inc), Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" “G” attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent;
(f) Matters disclosed in the Title Policy; and
(fg) Liens in connection with purchase money incurred pursuant to financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) vehicles not to exceed $75,000.00 in any one case and $200,000.00 75,000 in the aggregate without Lender's prior written consentfor any calendar year and liens incurred pursuant to capital leases or similar financing of equipment or other capital goods in the ordinary course of business, not to exceed [$50,000] in the aggregate for any calendar year.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (CNL Healthcare Trust, Inc.)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral, whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) a. Liens at any time existing in favor of the Lender;
(b) b. Liens which are listed in Exhibit "F" attached hereto;
(c) c. Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land Property and Improvements within thirty (30) days of its creation, creation in a manner satisfactory to Lender;
(d) d. Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) e. Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; andyet due and payable;
(f) f. Liens in connection with favor of AmSouth Bank as described and set forth in the Intercreditor Agreement, as amended;
g. Liens securing purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) loans not to exceed $75,000.00 in any one case and $200,000.00 300,000 in the aggregate without Lender's prior written consent.at any one time outstanding; and
Appears in 2 contracts
Samples: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with related to the A/R Loan.
(g) Liens securing purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) loans not to exceed $75,000.00 in any one case and $200,000.00 300,000 in the aggregate without Lender's prior written consentat any one time outstanding.
(h) Liens related to the Related Loans.
Appears in 2 contracts
Samples: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Property and Improvements or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral, whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):Liens:
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" attached heretoPermitted Encumbrances;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or suppliessupplies (including as a consequence of the Lease Agreement), provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land Property and Improvements Improvements, within thirty (30) days of its creation, in a manner satisfactory to Lender;; and
(d) Liens incurred in the ordinary course of business (including as a consequence of the Lease Agreement) in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
. Notwithstanding anything to the contrary contained herein, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the amount or validity of any Liens, provided that (a) no Event of Default has occurred and remains uncured; (b) such proceeding shall be permitted under and be conducted in accordance with all applicable Legal Requirements; (c) none of the Collateral, the Property nor any part thereof or interest therein will be in imminent danger of being sold, forfeited, terminated, cancelled or lost; (d) Borrower shall promptly upon final determination thereof pay the amount of any such Liens, together with all costs, interest and penalties which may be payable in connection therewith; (e) Liens for current year's taxesto insure the payment of such Liens, assessments Borrower shall deliver to Lender either (i) cash, or governmental charges other security as may be approved by Lender, in an amount equal to one hundred twenty-five percent (125%) of the contested amount, or levies provided (ii) a payment thereof shall not be delinquentand performance bond in an amount equal to one hundred percent (100%) of the contested amount from a surety acceptable to Lender in its reasonable discretion; and
(f) failure to pay such Liens in connection with purchase money financing will not subject Lender to any civil or criminal liability; (including Equipment leasesg) for such contest shall not affect the acquisition ownership, use or occupancy of Equipment provided that at no time shall the Property; and (h) Borrower shall, upon request by Lender, give Lender prompt notice of the status of such purchase money financing (including proceedings and/or confirmation of the principal component continuing satisfaction of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 the conditions set forth in the aggregate without Lender's prior written consentforegoing clauses (a) through (h). Without limitation of Section 5.9, Borrower shall not permit Operator to create, incur, assume or suffer to exist any Lien upon or with respect to any Collateral.
Appears in 2 contracts
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any Facility or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral, whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) a. Liens at any time existing in favor of the Lender;
(b) b. Liens which are listed in Exhibit "F" attached heretopermitted under the terms of the Lender's title insurance policies insuring the Mortgage;
(c) c. Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land Property and Improvements within thirty (30) days of its creation, creation in a manner satisfactory to Lender;
(d) d. Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) e. Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquentyet due and payable;
f. Liens on Accounts securing the Working Capital Loan and the Overline Facility; and
(f) g. Liens in connection with securing purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) loans not to exceed $75,000.00 in any one case and $200,000.00 300,000 in the aggregate without Lender's prior written consentat any one time outstanding.
Appears in 2 contracts
Samples: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" attached heretoLiens, if any, permitted pursuant to the Mortgage;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consent.
Appears in 1 contract
Samples: Loan Agreement (Emeritus Corp\wa\)
No Liens; Exceptions. CreateLessee shall not create, incur, assume or suffer to exist exist, and Borrower shall not grant or create, any Lien upon or with respect to any Property, the Facility, Assisted Living Facilities or any of its such Borrower Party's properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted EncumbrancesPERMITTED LIENS")::
(a) Liens at any time existing in favor of Lenderthe Trustee and securing obligations under the Transaction Documents;
(b) Liens which are listed the Master Lease, the Ground Leases, the Licensing Subleases and the Subleases (subject to the terms of the subordination and non-disturbance agreements, among Lessee, Lender and each of the Sublessees and among Borrower, Lender and the Lessees under the Ground Leases, all in Exhibit "F" attached heretoform and substance acceptable to Surety);
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed by Lessee to Lender Surety and bonded off and removed from the Land and Improvements discharged by Lessee by payment, bonding or otherwise, within thirty (30) days of its creation, after the filing thereof in a manner satisfactory to LenderSurety in Surety's sole discretion;
(d) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and, but in no case any Lien which has arisen under operation of, or pursuant to, any Environmental Law;
(fe) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case Liens, exceptions and $200,000.00 encumbrances described in the aggregate without Lender's prior written consent.Schedule B-1 to the
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "FG" attached hereto;
(c) Inchoate Liens arising by Leases to residents and commercial leases for resident services incidental to the operation of law for the purchase Facility (e.g., xxxxxx shop, beauty parlor) provided such commercial leases, in the aggregate, do not generate more than 20% of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any gross income of the Land Facility;
(d) Easements, rights of way, restrictions, minor defects or Improvementsirregularities in title and other similar charges or encumbrances, such Lien must be which Lender has determined upon Borrower's request, in Lender's commercially reasonable discretion, will not interfere in any material respect with the ordinary conduct of the business of the Facility or the value of the Mortgaged Property or Lender's interest in the Mortgaged Property, and Borrower pays to Lender, upon demand, all costs and expenses incurred by Lender in connection with reviewing Borrower's request;
(e) The creation of a mechanic's, materialman's, or judgment lien against the Mortgaged Property which is fully disclosed to the Lender and bonded off and removed from the Land and Improvements released of record or otherwise remedied to Lender's satisfaction within thirty (30) days after Borrower has knowledge of its creation, in a manner satisfactory to Lenderthe creation of such Lien;
(df) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(eg) Liens for current year's taxes, assessments or governmental charges or levies levies, provided payment thereof shall not be delinquent; and
delinquent (f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentexcept if Lender should have paid).
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) Liens at any time existing in favor of First Mortgage Lender and Mezzanine Lender;
(b) Liens which are listed in Exhibit "FJ" attached hereto;
(c) Inchoate Liens arising by Leases to residents and commercial leases for resident services incidental to the operation of law for the purchase Facility (e.g. xxxxxx shop, beauty parlor) provided such commercial leases, in the aggregate, do not generate more than 20% of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any gross income of the Land Facility; 41
(d) Easements, rights of way, restrictions, minor defects or Improvementsirregularities in title and other similar charges or encumbrances, such Lien must be which Mezzanine Lender has determined upon Owner's request, in Mezzanine Lender's commercially reasonable discretion, will not interfere in any material respect with the ordinary conduct of the business of the Facility or the value of the Mortgaged Property or Mezzanine Lender's interest in the Mortgaged Property, and Borrower pays to Mezzanine Lender, upon demand, all costs and expenses incurred by Mezzanine Lender in connection with reviewing Owner's request;
(e) The creation of a mechanic's, materialman's, or judgment lien against the Mortgaged Property which is fully disclosed to the Mezzanine Lender and bonded off and removed from the Land and Improvements released of record or otherwise remedied to Mezzanine Lender's satisfaction within thirty (30) days after Borrower has knowledge of its creation, in a manner satisfactory to Lenderthe creation of such Lien;
(df) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(eg) Liens for current year's taxes, assessments or governmental charges or levies levies, provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consent.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Capital Senior Living Corp)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" attached heretopermitted pursuant to the terms of the Mortgage;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to LenderLender in its reasonable discretion;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent;
(f) Second and subordinate liens on the Facilities held by Capmark Finance Inc., securing a debt in the amount of $13,600,000.00; and
(fg) Liens in connection with purchase money financing (including Equipment leases) for Third and subordinate liens on the acquisition of Equipment provided that at no time shall such purchase money financing (including Facilities securing the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentSubordinated Debt.
Appears in 1 contract
Samples: Loan Agreement (Emeritus Corp\wa\)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" “E” attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent;
(f) Matters disclosed in the Title Policy;
(g) Utility easements that are incurred in the normal course of operation of the Facility; and
(fh) Liens in connection with purchase money incurred pursuant to financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) vehicles not to exceed $75,000.00 in any one case and $200,000.00 75,000 in the aggregate without Lender's prior written consentfor any calendar year and liens incurred pursuant to capital leases or similar financing of equipment or other capital goods in the ordinary course of business, not to exceed $50,000 in the aggregate for any calendar year. Notwithstanding the foregoing, nothing in this Section 5.2 shall be deemed to prohibit Borrower from entering into any Financial Contract or securing its obligations thereunder with the Mortgaged Property.
Appears in 1 contract
Samples: Loan Agreement (CNL Healthcare Properties II, Inc.)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) Liens at any time existing in favor of First Mortgage Lender and Mezzanine Lender;
(b) Liens which are listed in Exhibit "FJ" attached hereto;
(c) Inchoate Liens arising by Leases to residents and commercial leases for resident services incidental to the operation of law for the purchase Facility (e.g. xxxxxx shop, beauty parlor) provided such commercial leases, in the aggregate, do not generate more than 20% of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any gross income of the Land Facility;
(d) Easements, rights of way, restrictions, minor defects or Improvementsirregularities in title and other similar charges or encumbrances, such Lien must be which Mezzanine Lender has determined upon Mortgagor's request, in Mezzanine Lender's commercially reasonable discretion, will not interfere in any material respect with the ordinary conduct of the business of the Facility or the value of the Mortgaged Property or Mezzanine Lender's interest in the Mortgaged Property, and Borrower pays to Mezzanine Lender, upon demand, all costs and expenses incurred by Mezzanine Lender in connection with reviewing Mortgagor's request;
(e) The creation of a mechanic's, materialman's, or judgment lien against the Mortgaged Property which is fully disclosed to the Mezzanine Lender and bonded off and removed from the Land and Improvements released of record or otherwise remedied to Mezzanine Lender's satisfaction within thirty (30) days after Borrower has knowledge of its creation, in a manner satisfactory to Lenderthe creation of such Lien;
(df) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(eg) Liens for current year's taxes, assessments or governmental charges or levies levies, provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consent.
Appears in 1 contract
Samples: Mezzanine Loan Agreement (Capital Senior Living Corp)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" “G” attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent;
(f) Matters disclosed in the Title Policy; and
(fg) Liens in connection with purchase money incurred pursuant to financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) vehicles not to exceed $75,000.00 in any one case and $200,000.00 75,000 in the aggregate without Lender's prior written consentfor any calendar year and liens incurred pursuant to capital leases or similar financing of equipment or other capital goods in the ordinary course of business, not to exceed $50,000 in the aggregate for any calendar year.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens All liens, encumbrances or encroachments which are listed and described in Exhibit "F" attached heretoSchedule B of the Lender’s Title Insurance Policy;
(c) Easements created in the ordinary course of constructing the CCRC in accordance with the Plans for which affirmative title insurance coverage is provided within thirty (30) days after the date of filing of any such easement;
(d) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty or otherwise resolved in accordance with the provisions of Section 5.26 (30) days of its creation, in a manner satisfactory to LenderProtection Against Liens);
(de) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's ’s prior written consent; and
(g) Liens for current year’s taxes, assessments or governmental charges or levies not yet due and payable.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the FacilityFacilities, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Properties whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "“F" ” attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; andor
(f) Liens in connection with purchase Purchase money liens for equipment financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) not to exceed $75,000.00 in any one case and $200,000.00 50,000 in the aggregate without Lender's prior written consentat any time outstanding per Facility.
Appears in 1 contract
Samples: Loan Agreement (Emeritus Corp\wa\)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its any Borrower’s properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral, whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;the Lender or its Affiliates,
(b) Liens which are listed in Exhibit "F" G attached hereto;,
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land Property and Improvements Improvements, within thirty (30) days of its creation, in a manner satisfactory to Lender;,
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;, and
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and.
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition favor of Equipment provided that at no time shall such purchase money financing (including the principal component of AR Lender or any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentContemporary Debt.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the a Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed reflected as permitted in Exhibit "F" attached heretothe Mortgage;
(c) Leases to residents and commercial leases for resident services incidental to the operation of a Facility (e.g., bxxxxx shop, beauty parlor) provided such commercial leases, in the aggregate, do not generate more than 20% of gross income of a Facility and any lease of all or part of the Property to a subsidiary of Capital Senior Living Corporation, which lease has been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed;
(d) Easements, rights of way, restrictions, minor defects or irregularities in title and other similar charges or encumbrances, which Lender has determined upon Borrower’s request, in Lender’s commercially reasonable discretion, will not interfere in any material respect with the ordinary conduct of the business of a Facility or the value of the Mortgaged Property or Lender’s interest in the Mortgaged Property, and Borrower pays to Lender, upon demand, all costs and expenses incurred by Lender in connection with reviewing Borrower’s request;
(e) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(df) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(eg) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(fh) Liens Purchase money loans or leases financing Equipment for a Facility in connection with purchase money financing (including Equipment leases) for the acquisition ordinary course of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) business, not to exceed $75,000.00 in any one case and $200,000.00 100,000 in the aggregate without Lender's prior written consentper Facility at any time.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed permitted pursuant to the terms of the Mortgage, including the first liens held by Capmark Bank, securing a debt in Exhibit "F" attached heretothe amount of $88,000,000.00;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to LenderLender in its reasonable discretion;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for Third and subordinate liens on the acquisition of Equipment provided that at no time shall such purchase money financing (including Facilities securing the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentSubordinated Debt.
Appears in 1 contract
Samples: Loan Agreement (Emeritus Corp\wa\)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" attached heretopermitted pursuant to the terms of the Mortgage;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to LenderLender in its reasonable discretion;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for Notwithstanding anything to the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 contrary contained in the aggregate without Mortgage, second and subordinate liens on the Facilities, subject to Lender's ’s prior written consent, which may be granted or denied in Lender’s reasonable discretion.
Appears in 1 contract
Samples: Loan Agreement (Emeritus Corp\wa\)
No Liens; Exceptions. CreateLessee shall not create, incur, assume or suffer to exist exist, and Borrower shall not grant or create, any Lien upon or with respect to any Property, the Facility, Assisted Living Facilities or any of its such Borrower Party's properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted EncumbrancesPERMITTED LIENS")::
(a) Liens at any time existing in favor of Lenderthe Trustee and securing obligations under the Transaction Documents;
(b) Liens which are listed the Master Lease the Ground Leases, the Licensing Subleases and the Subleases (subject to the terms of the subordination and non-disturbance agreements, among Lessee, Noteholder and each of the Sublessees and among Borrower, Noteholder and the lessees under the Ground Leases, all in Exhibit "F" attached heretoform and substance acceptable to Noteholder);
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed by Lessee to Lender Noteholder and bonded off and removed from the Land and Improvements discharged by Lessee by payment, bonding or otherwise, within thirty (30) days of its creation, after the filing thereof in a manner satisfactory to LenderNoteholder in Noteholder's sole discretion;
(d) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and, but in no case any Lien which has arisen under operation of, or pursuant to, any Environmental Law;
(e) Liens, exceptions and encumbrances described in the Schedule B-1 to the Title Policies and approved by Noteholder prior to the Closing Date (or in the case of the Title Policies covering the Additional Properties, prior to the Additional Properties Closing Date);
(f) Liens in connection with purchase money financing evidencing Equipment Leases included within the definition of Allowed Indebtedness; and
(including Equipment leasesg) for Liens on the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentExcluded Collateral.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Property, whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" F attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, creation in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquentyet due and payable; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentsecuring indebtedness permitted under Section 3.24.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("Permitted Encumbrances"):
(a) a. Liens at any time existing in favor of Lender;
(b) b. Liens which are listed in Exhibit "F" attached hereto;
(c) c. Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) d. Liens incurred in the ordinary course of business in connection with workers' compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(e) e. Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consent.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "F" F attached heretohereto and made a part hereof, and renewals, replacements and extensions of such Liens;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of notice of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;; and
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
delinquent (f) Liens unless such taxes, assessments or charges are being contested in connection accordance with purchase money financing (including Equipment leases) for the acquisition provisions of Equipment provided that at no time shall such purchase money financing (including Section 9 of the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentMortgage).
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens which are listed in Exhibit "“F" ” attached hereto;
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty (30) days of its creation, in a manner satisfactory to Lender;
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens on Accounts (excluding the DCMS Note Receivable and the Worker’s Comp Retro Premiums, which shall not be subject to the A/R Loan) related to the A/R Loan. Notwithstanding the foregoing, the A/R Lender shall have no interest in connection with any collateral securing the Loan or any tangible or intangible property of any Borrower other than the Accounts. Until such time as Lender has received payment in full of all Loan Obligations, Lender shall hold a first priority security interest in and to all of the General Intangibles and Contract Rights of the Borrower, including, but not limited to, all Patient Agreements, Permits and provider agreements, and the Proceeds and products thereof; provided, however, that to the extent any such Proceeds or products, or any other payments derived from such General Intangibles or Contract Rights are inextricably related to the collection of Accounts, then the same shall be deemed to be subject to the lien of A/R Lender. Notwithstanding anything herein to the contrary, Accounts subject to the A/R Loan shall not include any Permits related to the operation of the Facilities, and A/R Lender shall have no right to transfer, sell, convey or otherwise affect the Permits related to the operation of the Facilities; and
(g) Liens securing purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) loans not to exceed $75,000.00 in any one case and $200,000.00 150,000 per Facility in the aggregate without Lender's prior written consentat any one time outstanding.
Appears in 1 contract
Samples: Loan Agreement (Advocat Inc)
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;
(b) Liens All liens, encumbrances or encroachments which are listed and described in Exhibit "F" attached heretoSchedule B of the Lender’s Title Insurance Policy;
(c) Easements created in the ordinary course of constructing the SNF in accordance with the Plans for which affirmative title insurance coverage is provided within thirty (30) days after the date of filing of any such easement;
(d) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land and Improvements within thirty or otherwise resolved in accordance with the provisions of Section 5.26 (30) days of its creation, in a manner satisfactory to LenderProtection Against Liens);
(de) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;
(e) Liens for current year's taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition of Equipment provided that at no time shall such purchase money financing (including the principal component of any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's ’s prior written consent; and
(g) Liens for current year’s taxes, assessments or governmental charges or levies not yet due and payable.
Appears in 1 contract
No Liens; Exceptions. Create, incur, assume or suffer to exist any Lien upon or with respect to the Facility, Facility or any of its any Borrower’s properties, rights, income or other assets relating thereto, including, without limitation, the Mortgaged Property Collateral, whether now owned or hereafter acquired, other than the following permitted Liens ("“Permitted Encumbrances"”):
(a) Liens at any time existing in favor of Lender;the Lender or its Affiliates,
(b) Liens which are listed in Exhibit "F" G attached hereto;,
(c) Inchoate Liens arising by operation of law for the purchase of labor, services, materials, equipment or supplies, provided payment shall not be delinquent and, if such Lien is a lien upon any of the Land Property or Improvements, such Lien must be fully disclosed to Lender and bonded off and removed from the Land Property and Improvements Improvements, within thirty (30) days of its creation, in a manner satisfactory to Lender;,
(d) Liens incurred in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for money borrowed or for credit received with respect to property acquired) entered into in the ordinary course of business as presently conducted or to secure obligations for surety or appeal bonds;, and
(e) Liens for current year's ’s taxes, assessments or governmental charges or levies provided payment thereof shall not be delinquent; and.
(f) Liens in connection with purchase money financing (including Equipment leases) for the acquisition favor of Equipment provided that at no time shall such purchase money financing (including the principal component of Senior Lender or any Equipment leases) exceed $75,000.00 in any one case and $200,000.00 in the aggregate without Lender's prior written consentContemporary Debt.
Appears in 1 contract