Filing of Liens Against the Property Clause Samples
The "Filing of Liens Against the Property" clause governs the circumstances under which liens may be placed on a property, typically in the context of construction or service contracts. It usually requires contractors, subcontractors, or suppliers to refrain from filing liens against the property for unpaid work or materials, and may obligate the responsible party to promptly remove any liens that are filed. This clause serves to protect property owners from encumbrances that could cloud title or impede future transactions, ensuring that disputes over payment do not result in legal claims against the property itself.
Filing of Liens Against the Property. Any lien for labor, materials, taxes (except for ad valorem taxes not yet due and payable) or otherwise shall be filed against the Property and not be removed within fifteen (15) days thereafter; or
Filing of Liens Against the Property. Any lien for labor, material, taxes or otherwise shall be filed against the Property and such lien shall not be either satisfied or bonded over within thirty (30) days of such filing in the full amount, to Lender’s satisfaction; or
Filing of Liens Against the Property. Any lien for labor, material, taxes, or otherwise shall be filed against the Property and not be removed 30 days after Borrower’s receipt of notice of such filing or such lesser period of time as may be provided in the Loan Documents; or
Filing of Liens Against the Property. Any Lien for labor, material, taxes or otherwise shall be filed against any Mortgaged Property or other Collateral or otherwise incurred and not be removed within thirty (30) days from the date of filing any such Lien, or any Mortgaged Property or other Collateral shall be further encumbered by the Lien of any other mortgage or encumbrance, without the prior consent thereto of the Required Lenders.
Filing of Liens Against the Property. Any lien for labor, material, taxes or otherwise shall be filed against the Property or otherwise incurred and not be (i) removed; (ii) bonded off; or (iii) if Borrower files a Notice of Contest and does not place an amount equal to one hundred ten percent (110%) of the amount of the lien with TICOR Title Insurance Company within fifteen (15) days from Borrower's receipt of notice of the filing any such lien; or