Securing the TIFIA Lien Sample Clauses

Securing the TIFIA Lien. The TIFIA Lien granted to the TIFIA Lender pursuant to the TIFIA Loan Documents shall be subordinate only to the pledge of the Pledged Taxes to the payment of Senior Obligations. The Borrower shall at any and all times, so far as it may be authorized by law, pass, make, do, execute, acknowledge and deliver, all and every such further resolutions, acts, deeds, conveyances, assignments, transfers and assurances as may be necessary or desirable for the betterin connection with assuring, conveying, granting, assigning, securing and confirming (i) the TIFIA Lien in and to the Pledged Taxes (whether now existing or hereafter arising) granted to the TIFIA Lender and (ii) the Pledged Taxes are and will be free and clear of any pledge, Lien, charge or encumbrance thereon or with respect thereto other than Permitted Liens, and, in each case of clauses (i) and (ii), all corporate action on the part of the Borrower to that end shall be duly and validly taken at suchall times. The Borrower shall at all times, to the extent permitted by law, defend, preserve and protect tothe TIFIA Lien in and to the Pledged Taxes and all rights of the TIFIA Lender, as owner of the TIFIA Bond, against all claims and demands of all Persons whomsoever affecting the TIFIA Lien. In the event that the Borrower pledges any Additional Taxes to holders of any Bonds and/or pledges the Motor Vehicle Tax to any Bonds other than the Prior Bonds, such Additional Taxes and/or Motor Vehicle Tax shall (x) constitute Pledged Taxes and shall also(y) be deemed pledged to the payment of the TIFIA Bond for the benefit of the TIFIA Lender. as security for the payment of the TIFIA Bond and all of the obligations of the Borrower in respect of the TIFIA Loan
Sample 1
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Related to Securing the TIFIA Lien

  • Lien 22.1. The Company shall have a general lien on all funds held by the Company on the Client’s behalf until the satisfaction of the Client’s obligations.

  • Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.

  • Security Instruments (i) The Administrative Agent shall fail to have an Acceptable Security Interest in any portion of the Collateral or (ii) any Security Instrument shall at any time and for any reason cease to create the Lien on the Property purported to be subject to such agreement in accordance with the terms of such agreement, or cease to be in full force and effect, or shall be contested by the Borrower, any Guarantor or any of their respective Subsidiaries;

  • Collateral The Collateral for this Note includes the Funding Agreement and the Guarantee specified on the face hereof.

  • Assets as Collateral Prohibited Grantees will not encumber equipment purchased with System Agency funds without prior written approval from the System Agency.

  • - FINANCING THE ACTION I.3.1 The total cost of the action is estimated at EUR […], as shown in the estimated budget in Annex II. The estimated budget shall give a detailed breakdown of the costs that are eligible for Community funding under the terms of Article II.14, of any other costs that the action may entail, and of all receipts, so that receipts and costs balance.

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • Proceeding Affecting Xxxxxx’s Interest in the Property Borrower will be in Default if any action or proceeding begins, whether civil or criminal, that, in Xxxxxx’s judgment, could result in forfeiture of the Property or other material impairment of Xxxxxx’s interest in the Property or rights under this Security Instrument. Borrower can cure such a Default and, if acceleration has occurred, reinstate as provided in Section 20, by causing the action or proceeding to be dismissed with a ruling that, in Xxxxxx’s judgment, precludes forfeiture of the Property or other material impairment of Xxxxxx’s interest in the Property or rights under this Security Instrument. Borrower is unconditionally assigning to Lender the proceeds of any award or claim for damages that are attributable to the impairment of Xxxxxx’s interest in the Property, which proceeds will be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property will be applied in the order that Partial Payments are applied in Section 2(b).

  • Mechanics’ Lien Tenant understands and agrees that Tenant and anyone acting on Tenant’s behalf does not have the right to file for mechanic’s liens or any other kind of liens on the Premises. Tenant agrees to give actual advance notice to any contractors, subcontractors or suppliers of goods, labor or services that such liens are invalid. Tenant further agrees to take the additional steps necessary to keep the Premises free of any and all liens that may result from construction completed by or for Tenant.

  • Liens Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following:

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