Common use of Payment for Labor and Materials Clause in Contracts

Payment for Labor and Materials. Subject to Borrower’s right to contest in accordance with Section 11.8 hereof, Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Project and never permit to exist beyond the due date thereof in respect of the Project or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the Project or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the Mortgage).

Appears in 3 contracts

Samples: Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Columbia Equity Trust, Inc.)

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Payment for Labor and Materials. Subject to Borrower’s 's right to contest in accordance with Section 11.8 hereof, Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Project and never permit to exist beyond the due date thereof in respect of the Project or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the Project or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the Mortgage).

Appears in 3 contracts

Samples: Loan Agreement (Windrose Medical Properties Trust), Loan Agreement (Griffin Land & Nurseries Inc), Loan Agreement (Cedar Income Fund LTD /Md/)

Payment for Labor and Materials. Subject to Borrower’s right to contest in accordance with Section 11.8 12.14 hereof, Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Project Projects and never permit to exist beyond the due date thereof in respect of the any Project or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the any Project or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the Mortgage).

Appears in 3 contracts

Samples: Loan Agreement (Summit Healthcare REIT, Inc), Loan Agreement (Cornerstone Core Properties REIT, Inc.), Loan Agreement (Cornerstone Core Properties REIT, Inc.)

Payment for Labor and Materials. Subject to Borrower’s right to contest in accordance with Section 11.8 hereof, Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the any Project and never permit to exist beyond the due date thereof in respect of the such Project or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the any Project or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the MortgageMortgage encumbering such Project).

Appears in 3 contracts

Samples: Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.), Loan Agreement (Extra Space Storage Inc.)

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Payment for Labor and Materials. Subject to each Borrower’s right to contest in accordance with Section 11.8 12.26 hereof, each Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Project its Project(s) and never permit to exist beyond the due date thereof in respect of the Project its Project(s) or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the Project its Project(s) or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the applicable Mortgage).

Appears in 1 contract

Samples: Loan Agreement (Tarragon Corp)

Payment for Labor and Materials. Subject to Borrower’s right to contest in accordance with Section 11.8 12.14 hereof, Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated materials incurred in connection with the Project and never permit to exist beyond the due date thereof in respect of the Project or any part thereof any Lien, even though inferior to the Liens hereof, and in any event never permit to be created or exist in respect of the Project or any part thereof any other or additional Lien other than the Liens hereof, except for the Permitted Encumbrances (defined in the Mortgage).

Appears in 1 contract

Samples: Loan Agreement (NorthStar Healthcare Income, Inc.)

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