Common use of Failure to Discharge Mechanics’ Liens Clause in Contracts

Failure to Discharge Mechanics’ Liens. The filing for record of a mechanic’s lien or materialman’s lien against the Property or the filing of an action to foreclose such lien and within thirty (30) Business Days after the filing thereof either (a) the claim set forth therein is not discharged by Borrower or (b) if the amount claimed is disputed in good faith by Borrower or any contractor, Borrower fails to provide a bond for such lien or to prosecute the dispute diligently; or

Failure to Discharge Mechanics’ Liens. The filing for record of a mechanic’s 's lien or materialman’s 's lien against the Property or the filing of an action to foreclose such lien and within thirty (30) Business Days after the filing thereof either (a) the claim set forth therein is not discharged by Borrower or (b) if the amount claimed is disputed in good faith by Borrower or any contractor, Borrower fails to provide a bond for such lien or to prosecute the dispute diligently; or.

Failure to Discharge Mechanics’ Liens. The filing for record of a mechanic’s lien or materialman’s lien against the Property or the filing of an action to foreclose foreclosure such lien and within thirty (30) Business Days business days after the filing thereof either (aA) the claim set forth therein is not discharged by Borrower or (bB) if the amount claimed is disputed in good faith by Borrower or any contractor, Borrower fails fails, at Lender’s request, to provide a bond for such lien or to provide affirmative title coverage over such lien or to prosecute the dispute diligently; or