Common use of Lessor’s Right to Cause Release of Liens Clause in Contracts

Lessor’s Right to Cause Release of Liens. If Lessee shall not within ten (10) days following the imposition of any such lien which is not being contested by Lessee in accordance with Article 18 below, cause the lien to be released of record by payment or posting of a proper bond, Lessor shall have the right but not the obligation to cause the same to be released by such means as Lessor shall deem appropriate and the amount paid by Lessor together with all expenses incurred by Lessor in connection therewith (including without limitation reasonable attorneys' fees and expense), plus interest at the Interest Rate from the date of payment by Lessor, shall be Additional Rental, immediately due and payable by Lessee to Lessor upon demand.

Appears in 2 contracts

Sources: Annual Report, Lease Agreement (Network Appliance Inc)

Lessor’s Right to Cause Release of Liens. If Lessee shall does not within ten (10) days following the imposition of cause any such lien which is Lien encumbering Lessor’s Interest that Lessee does not being contested by Lessee contest in accordance with Article 18 below, cause the lien this Section to be released of record by payment or posting of a proper bondbond or insured over within thirty (30) days following the imposition of such Lien, Lessor shall have the right right, but not the obligation obligation, to cause the same Lien to be released by such any means as Lessor shall may deem appropriate appropriate, and the amount paid by Lessor Lessor, together with all expenses incurred by Lessor in connection therewith (including without limitation Lessor’s reasonable attorneys' fees and expense)administrative fees, plus interest at the Interest Rate twelve percent (12%) per annum from the date of payment by Lessor, shall be Additional Rentaladditional Rent, immediately due and payable by Lessee to Lessor upon demand.

Appears in 1 contract

Sources: Ground Lease