Vendor’s Lien Clause Samples

Vendor’s Lien. The Vendor shall have a vendor's lien for the balance of the Purchase Price and interest thereon, which may be reserved to the Vendor in the transfer to the Purchaser and shall be discharged upon receipt by the Vendor of the full Purchase Price with any interest thereon payable as above provided. Witness Initial: Purchaser Initial: Vendor Initial:

Vendor’s Lien. 1. The terms and conditions of the seller shall apply with regard to the vendor’s lien. However, it is agreed that title to the goods shall transfer to us upon their payment and the so-called current account retention shall thus not occur. 2. The seller must have rescinded the contract in order to be able to demand surrender of the goods based on the vendor’s lien.

Vendor’s Lien. Seller shall have the right of vendor’s lien (retention of ownership) in the goods sold until the goods are fully paid for, including any additional interest and costs, cf. Norwegian Mortage Act (Panteloven), Section 3-14. The goods may not be sold or pledged without the agreement of the mortagee, cf. Section 3-16.

Vendor’s Lien. 1. Delivered goods shall remain our property until all claims under the contract (including any bills receivable) are satisfied. This vendor’s lien shall also apply to all deliveries even if the buyer has made payments for parts or individual deliveries. 2. Inasmuch as the buyer’s assistance (e.g. registration) is necessary for effectiveness of our vendor’s lien, the buyer shall take the necessary steps for substantiation of and compliance with our rights. 3. If the buyer is in default of payment or does not honor a bill when due, we shall be entitled to take back the goods and enter the buyer’s business for this purpose. We shall only have these rights if the buyer has failed to fulfil his obligations even within a reasonable period of grace. Then we can interdict the disposal, processing, combination with other goods and removal of the delivered goods. 4. The buyer shall have the right, within a normal business relationship, to resell the goods delivered subject to the vendor’s lien. The pledge or assignment of relevant accounts receivable for the delivered goods shall not be permissible, however, until all obligations under the business relationship have been settled. 5. The buyer of goods subject to a vendor’s lien shall already cede his rights under the resale beforehand. This shall also apply to all further claims, in particular insurance claims resulting from the loss or damage of the goods. It shall further apply to goods that have been processed, reworked or mixed already. 6. The buyer shall have the right, within a normal business relationship, to collect such receivables for the goods that have been ceded to us and accepted by us already, also for so-called further claims. The right of collection may be revoked by us if the buyer breaches duties in relation to us, becomes insolvent, or our rights are at jeopardy due to the intervention of other creditors. 7. The buyer shall be obliged, at our request, to submit a special and written claim assignment to us as well as his buyer, from which the value of the resold goods as well as the name and address of the debtor are evident. 8. In the event of any foreclosure initiated by a third party against the goods delivered by us, the buyer shall inform us about this action immediately and provide us with all necessary documents, such as e.g. the attachment order and statutory declaration by the buyer or an authorized person, confirming that the goods to be attached are ours, and thus confirm that these we...

Vendor’s Lien. The Purchaser agrees that the Vendor shall have a vendor's lien on the Closing Date for unpaid purchase monies or adjustments or any other claims herein in this Agreement provided, together with interest thereon as provided for in this Agreement. The Purchaser covenants and agrees to forthwith pay all costs in relation to said vendor’s lien including without limitation, the Vendor’s solicitors’ legal fees on a full indemnity scale and disbursement and the cost to register the said vendor’s lien on title to the Real Property. The Vendor will upon request deliver to the Purchaser (for registration at the Purchaser’s expense) a release of the vendor’s lien after such unpaid purchase monies or adjustments or claims herein provided, as applicable, together with the interest thereon as provided for herein have been received by the Vendor by certified cheque and upon payment of a release fee of Two Hundred and Fifty ($250.00) Dollars plus HST and applicable disbursements.

Vendor’s Lien. The Purchaser agrees that the Vendor shall have a Vendor’s Lien on the Title Transfer Date for unpaid purchase monies, adjustments and/or claims herein provided, together with interest thereon as set forth in paragraph 6(j) hereof and shall be entitled to register a Notice of Vendor’s Lien against the Unit any time after the Title Transfer Date. Similarly, if the Purchaser was credited for the Rebate on the Title Transfer Date but it is subsequently determined that the Purchaser does not qualify for the Rebate as set forth in paragraph 6(g) hereof, the Vendor shall have a Vendor’s Lien for the amount of the Rebate credited to the Purchaser, plus legal fees and disbursements incurred by the Vendor as a result of the Purchaser’s improper claim for the Rebate, and the Vendor shall be entitled to register a Notice of Vendor’s Lien against the Unit. The Vendor will upon request deliver to the Purchaser for registration at the Purchaser’s expense a release of the Vendor’s Lien after such monies have been received by the Vendor.

Vendor’s Lien. The Purchaser agrees that the Vendor shall have a Vendor’s Lien for unpaid purchase monies on the Title Transfer Date and shall be entitled to register a Notice of Vendor’s Lien against the Unit any time after the Title Transfer Date.

Vendor’s Lien. The Purchaser agrees that the Vendor shall have a vendor’s lien for unpaid purchase monies and shall be entitled to register a notice of lien against title to the Real Property.

Vendor’s Lien. (a) The Purchaser hereby covenants and agrees that the Vendor shall have a vendor's lien on or after the Closing Date for any unpaid purchase monies, together with interest thereon as provided for in this Agreement. The Purchaser agrees that any adjustments (including without limitation any adjustment for the HST Rebate) or other claims herein in this Agreement, together with interest thereon as provided for in this Agreement, shall constitute part of the unpaid purchase monies. The Purchaser covenants and agrees to forthwith pay all costs in relation to said vendor’s lien including without limitation, the Vendor’s solicitors’ legal fees on a full indemnity scale and disbursements and the cost to register the said vendor’s lien on title to the Land. The Vendor will upon request deliver to the Purchaser (for registration at the Purchaser’s expense) a release of the vendor’s lien after such unpaid purchase monies or adjustments or claims herein provided, as applicable, together with the interest thereon and costs as provided for herein have been received by the Vendor and upon payment of a release fee of TWO HUNDRED FIFTY DOLLARS ($250.00) plus HST and applicable disbursements. i. In addition to and not in substitution of the rights of the Vendor to a vendor’s lien as set out in paragraph 3(f)(a), the Purchaser hereby covenants and agrees that as security for the payment of the Outstanding Indebtedness the Vendor shall have a lien and charge on the Transferred Lands (the “Outstanding Indebtedness Charge”) and the Purchaser hereby charges the Transferred Lands. The Vendor may, in the Vendor’s sole discretion, register from time to time after Closing, one or more notices under the LTA and/or the Outstanding Indebtedness Charge against title to the Transferred Lands to secure the Outstanding Indebtedness. The Outstanding Indebtedness Charge need not be registered against title to any Land in order to enable the Vendor to maintain or pursue any action against the Purchaser. ii. The Outstanding Indebtedness Charge shall incorporate Dye & Durham standard charge terms 200033. Interest shall accrue and be calculated in accordance with paragraph 3(e) of this Agreement and shall be payable on demand. iii. The Purchaser hereby covenants and agrees to do such acts and to complete and deliver to the Vendor before, on, or after Closing, as the Vendor may require or direct, one or more documents, certificates, declarations, instruments, acknowledgements, applications or po...