Release and Bonding of Liens. In the event any Lien (other than a Permitted Lien) attaches to any Receivable or related Trust Asset from any Person claiming from and through the Servicer or one of its Affiliates, the Servicer shall, within the earlier to occur of ten (10) days after such attachment or the respective lienholders action to foreclose on such lien, either (a) cause such lien to be released of record, or (b) provide the Indenture Trustee with a bond in accordance with the applicable laws of the state in which the Receivable or related Trust Asset is located, issued by a corporate surety acceptable to the Indenture Trustee, in an amount and in form reasonably acceptable to the Indenture Trustee, or (c) provide the Indenture Trustee with such other security as the Indenture Trustee may reasonably require.
Release and Bonding of Liens. In the event any Lien (other than a Permitted Lien) attaches to any Receivable or related Asset from any Person claiming from and through Sellers or their Affiliates, Sellers shall, within the earlier to occur of ten (10) days after such attachment or the respective lienholders action to foreclose on such Lien, either (a) cause such Lien to be released of record, or (b) provide the Trust Depositor, or its assigns, as the case may be, with a bond in accordance with the applicable laws of the state in which the Receivable or related Asset is located, issued by a corporate surety acceptable to the Trust Depositor or its assigns, as the case may be, and the Facility Administrator in an amount and in form reasonably acceptable to the Trust Depositor or its assigns, as the case may be, and the Facility Administrator or (c) provide the Trust Depositor or its assigns, as the case may be, and the Facility Administrator with such other security as the Trust Depositor or its assigns, as the case may be, and the Facility Administrator may reasonably require.
Release and Bonding of Liens. In the event any lien securing indebtedness for borrowed money in an amount in excess of $250,000 attaches to any Collateral (other than Permitted Adverse Claims), Borrowers shall, within the earlier to occur of ten (10) days after such attachment or the respective lienholder's action to foreclose on such lien, either (a) cause such lien to be released of record, or (b) provide Lender with a bond in accordance with the applicable laws of the state in which the Collateral is located, issued by a corporate surety acceptable to Lender, in an amount and in form reasonably acceptable to Lender, or (c) provide Lender with such other security as Lender may reasonably require.
Release and Bonding of Liens. If any lien attaches to all or any portion of the Collateral, Borrower shall, within forty-five (45) days after such attachment, either (a) cause such lien to be released of record; or (b) provide Lender with a bond in accordance with Applicable Laws, issued by a corporate surety acceptable to Lender, in an amount acceptable to Lender and in form acceptable to Lender, in its sole discretion; or (c) provide Lender with such other security as Lender may reasonably require.
Release and Bonding of Liens. In the event any lien (other than a Permitted Lien) attaches to any Receivable or related Asset from any Person claiming from and through the Servicer or one of its Affiliates which materially adversely affects the Trust's interest in the Receivable, Servicer shall, within the earlier to occur of ten (10) days after such attachment or the respective lienholders action to foreclose on such lien, either (a) cause such lien to be released of record, or (b) provide the Indenture Trustee with a bond in accordance with the applicable laws of the state in which the Receivable or related Asset is located, issued by a corporate surety acceptable to the Indenture Trustee, in an amount and in form -45- reasonably acceptable to the Indenture Trustee, or (c) provide the Indenture Trustee with such other security as the Indenture Trustee may reasonably require.
Release and Bonding of Liens. In the event any lien attaches to the Property or any other Collateral, other than pursuant to the Indenture or the documents entered into thereto, Borrower shall, within thirty (30) days after such attachment, at Borrower's option either (a) cause such lien to be released of record, or (b) provide Lender with a bond in accordance with the applicable laws of the state in which the Casino is located, issued by a corporate surety acceptable to Lender, in an amount acceptable to Lender and in form acceptable to Lender, or (c) provide Lender with such other security as Lender may reasonably require.
Release and Bonding of Liens. In the event any lien attaches to any Collateral relating to any payment obligation(s) of Borrower, individually or in the aggregate in excess of $50,000.00, Borrower shall, within fifteen (15) days after such attachment, either (A) cause such lien to be released of record or (B) provide Lender with a bond in accordance with the applicable laws of the state in which the Resort is located, issued by a corporate surety acceptable to Lender, in an amount acceptable to Lender and in form acceptable to Lender or (C) provide Lender with such other security as Lender may reasonably require. Notwithstanding anything to the contrary contained herein, Borrower (A) may contest the validity or amount of any claim, (B) may contest any tax or special assessments levied by any governmental authority, and (C) may contest the enforcement of or compliance with any governmental requirements and any such contest on the part of Borrower shall not be an Event of Default hereunder and shall not release Lender from its obligations to make Advances hereunder; provided, however, that during the pendency of any such contest Borrower
Release and Bonding of Liens. In the event any lien (other than a Permitted Lien) attaches to any Receivable or related Trust Asset from any Person claiming from and through the Servicer or one of its Affiliates which materially adversely affects the Trust's interest in the Receivable, Servicer shall, within the earlier to occur of ten (10) days after such attachment or the respective lienholders action to foreclose on such lien, either (a) cause such lien to be released of record, or (b) provide the Indenture Trustee with a bond in accordance with the applicable laws of the state in which the Receivable or related Trust Asset is located, issued by a corporate surety acceptable to the Indenture Trustee, in an amount and in form reasonably acceptable to the Indenture Trustee, or (c) provide the Indenture Trustee with such other security as the Indenture Trustee may reasonably require.
Release and Bonding of Liens. (a) If any lien attaches to any Component Sites, Seller shall, within sixty (60) days after such attachment, either (i) cause such lien to be released of record, or (ii) transfer such claim to the Bond, if available, or (iii) provide Buyer with such security as Buyer may reasonably require, including depositing with Buyer, in cash, the amount of the lien claim; and (b) in the event Seller and/or Club receives a notice of mechanic’s lien claim, or a mechanic’s lien claim is filed with any Office of Public Records in the County and State where a Component Site is located, on a Component Site or in the event suit is filed against Seller and/or Club to enforce a mechanic’s lien on a Component Site, the Seller shall promptly notify Buyer of any such filing of notice of lien, lien, or suit to enforce lien, and upon request of Buyer, shall provide Buyer with copies of all suit papers filed by any party in such a mechanic’s lien lawsuit. Seller’s responsibility to provide such notice is cumulative to those responsibilities found elsewhere in this Agreement including, but not limited to, paragraph 5.9 above.
Release and Bonding of Liens. In the event any lien attaches to any Collateral, Borrower shall, within ten (10) days after such attachment, either (a) cause such lien to be released of record, or (b) provide Agent with a bond in accordance with the applicable laws of the state in which the Resort is located, issued by a corporate surety acceptable to Lender, in an amount acceptable to Agent and in form acceptable to Agent, or (c) provide Agent with such other security as Agent may reasonably require.
