Common use of Title to the Property; Liens Clause in Contracts

Title to the Property; Liens. Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons. Without Lender’s prior written consent, Borrower will not create, incur, assume, permit or suffer to exist any Lien on all or any portion of the Property or any direct or indirect legal or beneficial ownership interest in Borrower or Borrower Representative, except Liens in favor of Lender and Permitted Encumbrances, unless such Lien is bonded or discharged within 30 days after Borrower first receives notice of such Lien.

Appears in 3 contracts

Samples: Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.)

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Title to the Property; Liens. Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons. Without Lender’s prior written consent, Borrower will shall not create, incur, assume, permit or suffer to exist any Lien on all or any portion of the Property or any Lien on any direct or indirect legal or beneficial ownership interest in Borrower or Borrower RepresentativeBorrower, except Liens in favor of Lender and Permitted Encumbrances, unless such Lien is bonded or discharged within 30 thirty (30) days after Borrower first receives notice of such Lien.

Appears in 1 contract

Samples: Loan Agreement (Presidential Realty Corp/De/)

Title to the Property; Liens. Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons. Without Lender’s prior written consent, Borrower will shall not create, incur, assume, permit or suffer to exist any Lien on all or any portion of the Property or any direct or indirect legal or beneficial ownership interest in Borrower or Borrower RepresentativeBorrower, except Liens in favor of Lender and Permitted Encumbrances, unless such Lien is bonded or discharged within 30 thirty (30) days after Borrower first receives notice of such Lien.

Appears in 1 contract

Samples: Loan Agreement (TNP Strategic Retail Trust, Inc.)

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Title to the Property; Liens. Borrower will warrant and defend the title to the Property, and the validity and priority of all Liens granted or otherwise given to Lender under the Loan Documents, subject only to Permitted Encumbrances, against the claims of all Persons. Without Lender’s prior written consent, Borrower will shall not create, incur, assume, permit or suffer to exist any Lien on all or any portion of the Property or any Lien on any direct or indirect legal or beneficial ownership interest in Borrower or Borrower RepresentativeBorrower, except Liens in favor of Lender Xxxxxx and Permitted Encumbrances, unless such Lien is bonded or discharged within 30 thirty (30) days after Borrower first receives notice of such Lien.

Appears in 1 contract

Samples: Loan Agreement

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