Common use of Statutory Liens Clause in Contracts

Statutory Liens. Any statutory lien (i) in favor of a Governmental Authority for any amount paid to the Borrower or to any Subsidiary as a progress payment pursuant to a government contract; (ii) securing the payment of any tax, fee, charge, fine or penalty imposed by any Governmental Authority upon Borrower, any Subsidiary or any of their assets, income and franchises but not yet required to be paid by Section 5.5 of this Agreement; or (iii) securing the payment of any claim or demand of any materialman, mechanic, carrier, warehouseman, garageman or landlord against Borrower or any Subsidiary but not yet required to be paid by Section 5.5 of this Agreement.

Statutory Liens. Any statutory lien (i) in favor of a Governmental Authority for any amount paid to the Borrower Company or to any Subsidiary as a progress payment pursuant to a government contract; (ii) securing the payment of any tax, fee, charge, fine or penalty imposed by any Governmental Authority upon BorrowerCompany, any Subsidiary or any of their assets, income and franchises but not yet required to be paid by Section 5.5 of this Agreement; or (iii) securing the payment of any claim or demand of any materialman, mechanic, carrier, warehouseman, garageman or landlord against Borrower Company or any Subsidiary but not yet required to be paid by Section 5.5 of this Agreement.