Common use of Stop Notices; Mechanic’s Liens Clause in Contracts

Stop Notices; Mechanic’s Liens. If (a) a bonded stop notice is received by Lender, which Lender believes requires the withholding of funds from any Advance or from any disbursement of Loan Proceeds, or (b) a mechanics’ lien, material supplier’s lien or other construction lien is recorded against the Property, then Borrower shall within thirty (30) days of such receipt or recordation:

Appears in 3 contracts

Samples: Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC)

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Stop Notices; Mechanic’s Liens. If (a) a bonded stop notice is received by Lender, which Lender Bank that Bank believes requires the withholding of funds from any Advance or from any disbursement of Loan Proceedsproceeds from the Borrower’s Funds Account, or (b) a mechanics’ lien, material supplier’s lien or other construction lien is recorded against the Real Property, then Borrower shall within thirty (30) 20 days of such receipt or recordation:recordation or within five days of Bank’s demand (whichever first occurs):

Appears in 1 contract

Samples: Funding Loan Agreement

Stop Notices; Mechanic’s Liens. If (a) a bonded stop notice is received by Lender, which Lender Bank that Bank believes requires the withholding of funds from any Advance or from any disbursement of Loan Proceedsproceeds from the Borrower‟s Funds Account, or (b) a mechanics’ mechanics‟ lien, material supplier’s supplier‟s lien or other construction lien is recorded against the Real Property, then Borrower shall within thirty (30) 20 days of such receipt or recordation:recordation or within five days of Bank‟s demand (whichever first occurs):

Appears in 1 contract

Samples: Construction and Permanent Loan Agreement

Stop Notices; Mechanic’s Liens. If (a) a bonded stop notice is Is received by LenderBank, which Lender Bank believes requires the withholding of funds from any Advance or from any disbursement of Loan Proceedsproceeds from the Borrower’s Funds Account, or (b) a mechanics’ lien, material supplier’s lien or other construction lien is recorded against the Real Property, then Borrower shall within thirty twenty (3020) days of such receipt or recordation:recordation or within five (5) Business Days of Bank’s demand (whichever first occurs):

Appears in 1 contract

Samples: Construction Loan Agreement (Petco Holdings Inc)

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Stop Notices; Mechanic’s Liens. If (a) a bonded stop notice is received by Lender, which Lender Bank that Bank believes requires the withholding of funds from any Advance or from any disbursement of Loan Proceedsproceeds from the Borrower’s Funds Account, or (b) a mechanics’ lien, material supplier’s lien or other construction lien is recorded against the Real Property, then Borrower shall within thirty (30) 20 days of such receipt or recordation:recordation or within five days of Bank’s demand (whichever first occurs):‌

Appears in 1 contract

Samples: Construction and Permanent Loan Agreement

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