REMOVAL BY LOAN PARTIES. If a Lien not permitted under this Agreement may encumber any Mortgaged Property or other item of Collateral or any portion thereof, the Loan Parties shall promptly discharge or cause to be discharged by payment to the lienor or lien claimant or promptly secure removal by bonding or deposit with the county clerk or otherwise or, at the Agent's option, promptly obtain insurance against, any such Lien or mechanics' or materialmen's claims of lien filed or otherwise asserted against any Mortgaged Property or any other item of Collateral or any portion thereof within 60 days after the date of notice thereof, but compliance with the provisions of this Section 5.9.1 shall not be deemed to constitute a waiver of the provisions of Section 6.
Appears in 2 contracts
Samples: Senior Secured Revolving Credit Agreement (Corporate Office Properties Trust), Senior Secured Revolving Credit Agreement (Corporate Office Properties Trust)
REMOVAL BY LOAN PARTIES. If a Lien not permitted under this Agreement may encumber any Mortgaged Property or other item of Collateral or any portion thereof, the Loan Parties shall promptly discharge or cause to be discharged by payment to the lienor or lien claimant or promptly secure removal by bonding or deposit with the county clerk or otherwise or, at the Agent's option, promptly obtain insurance against, any such Lien or mechanics' or materialmen's claims of lien filed or otherwise asserted against any Mortgaged Property or any other item of Collateral or any portion thereof within 60 days after the date of notice thereof, but compliance with the provisions of this Section 5.9.1 shall not be deemed to constitute a waiver of the provisions of Section 6.Section
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Corporate Office Properties Trust)
REMOVAL BY LOAN PARTIES. If a Lien not permitted under this Agreement may encumber any Mortgaged Property or other item of Collateral or any portion thereof, the Loan Parties Borrower shall promptly discharge or cause to be discharged by payment to the lienor or lien claimant or promptly secure removal by bonding or deposit with the county clerk or otherwise or, at the AgentLender's option, promptly obtain insurance against, any such Lien or mechanics' or materialmen's claims of lien filed or otherwise asserted against any Mortgaged Property or any other item of Collateral or any portion thereof within 60 days after the date of notice thereof, but compliance with the provisions of this Section 5.9.1 shall not be deemed to constitute a waiver of the provisions of Section 6.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Royale Investments Inc)
