Common use of Settlement of Mechanics’ Lien Claims Clause in Contracts

Settlement of Mechanics’ Lien Claims. If the Borrower and/or the relevant Property Owner shall fail promptly either (i) to discharge any such Lien, or (ii) post a statutory xxxx xxxx in the manner provided in Section 8.5.(d)., the Agent may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same and any amounts so expended by the Agent or Lenders, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute disbursement of the proceeds of the applicable Borrowing Base Property Sub-Facility. In settling, compromising or discharging any claims for lien, the Agent shall not be required to inquire into the validity or amount of any such claim.

Settlement of Mechanics’ Lien Claims. If the Borrower and/or the relevant Property Owner shall fail promptly either (i) to discharge any such Lienlien, or (ii) post a statutory xxxx xxxx in the manner provided in Section 8.5.(d)., the 15.1(e) Agent may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same same, or may furnish such security or indemnity to the Title Insurer, and any amounts so expended by the Agent or LendersLender, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute disbursement of the proceeds of the applicable Borrowing Base Property Sub-FacilityLoan hereunder. In settling, compromising or discharging any claims for lien, the Agent shall not be required to inquire into the validity or amount of any such claim.

Settlement of Mechanics’ Lien Claims. If the Borrower and/or the relevant Property or Three Xxxxxxxx Place Owner shall fail promptly either (i) to discharge any such Lienlien, or (ii) post a statutory xxxx xxxx in the manner provided in Section 8.5.(d).xxxx, the Agent may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same same, or may furnish such security or indemnity to the Title Insurance Company, and any amounts so expended by the Agent or LendersLender, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute disbursement of the proceeds of the applicable Borrowing Base Property Sub-FacilityLoan hereunder. In settling, compromising or discharging any claims for lien, the Agent shall not be required to inquire into the validity or amount of any such claim.

Settlement of Mechanics’ Lien Claims. If the Borrower and/or the relevant Property Owner shall fail promptly either (i) to discharge any such Lienlien, or (ii) post a statutory xxxx xxxx in the manner provided in Section 8.5.(d)., the Agent 15.1(e) Lender may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same same, or may furnish such security or indemnity to the Title Insurer, and any amounts so expended by the Agent or LendersLender, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute disbursement of the proceeds of the applicable Borrowing Base Property Sub-FacilityLoan hereunder. In settling, compromising or discharging any claims for lien, the Agent Lender shall not be required to inquire into the validity or amount of any such claim.

Settlement of Mechanics’ Lien Claims. If the Borrower and/or the relevant Property Owner shall fail promptly either (i) to discharge any such Lienlien, or (ii) post a statutory xxxx lxxx xxxx in the manner provided in Section 8.5.(d)., the 15.1(e) Agent may, at its election (but shall not be required to), procure the release and discharge of any such claim and any judgment or decree thereon and, further, may in its sole discretion effect any settlement or compromise of the same same, or may furnish such security or indemnity to the Title Insurer, and any amounts so expended by the Agent or LendersAgent, including premiums paid or security furnished in connection with the issuance of any surety company bonds, shall be deemed to constitute disbursement of the proceeds of the applicable Borrowing Base Property Sub-FacilityLoan hereunder. In settling, compromising or discharging any claims for lien, the Agent shall not be required to inquire into the validity or amount of any such claim.