Common use of LIEN OR ENCUMBRANCE Clause in Contracts

LIEN OR ENCUMBRANCE. It shall be the responsibility and obligation of Tenant to pay all taxes imposed upon, or assessed with respect to, Tenant's equipment including its antenna and transmission lines on the Tower and its interest in the Transmitter Building. Tenant shall not allow any lien or encumbrance to be placed against Landlord property or the Transmitter Building for failure to pay such tax or for failure to pay any other debt finally resolved in judicial proceedings to be due, whether or not such person be a taxing authority or other creditor. Tenant, at its expense, promptly shall take all action necessary to obtain the release of any lien or encumbrance in such circumstances. Any such claim or taxes may be contested in good faith if and so long as Tenant shall post a bond against such tax lien or claim in form and from a surety acceptable to Landlord and enforcement of such claim or taxes or loss or forfeiture of Tenant to comply with this Article IX(a) may be declared a default under this Lease by Landlord. Upon the occurrence and continuation of a violation by Tenant under the provision of this Article IX(a), Landlord, in its sole and absolute discretion, after giving not less than seven days written notice to Tenant, shall have the right to pay any such tax, lien or encumbrance on Landlord's property or upon the Transmitter Building, and any amounts so paid by Landlord together with any reasonable expenses, including attorneys' fees, incurred by Landlord in connection therewith shall be reimbursed by Tenant on demand.

Appears in 1 contract

Sources: Tower Lease Agreement (Acme Intermediate Holdings LLC)

LIEN OR ENCUMBRANCE. It shall be the responsibility and obligation of Tenant to pay all taxes imposed upon, or assessed with respect to, Tenant's equipment including its antenna and transmission lines on the Tower and its interest in the Transmitter Building. Tenant shall not allow any lien or encumbrance to be placed against Landlord Landlord's property or the Transmitter Building for failure to pay such tax or for failure to pay any other debt finally resolved in judicial proceedings to be due, whether or not such person be a taxing authority or other creditor. Tenant, at its expense, promptly shall take all action necessary to obtain the release of any lien or encumbrance in such circumstances. Any such claim or taxes may be contested in good faith if and so long as Tenant shall post a bond against such tax lien or claim in form and from a surety acceptable to Landlord and enforcement of such claim or taxes or loss or forfeiture of Tenant to comply with this Article IX(a) may be declared a default under this Lease by Landlord. Upon the occurrence and continuation of a violation by Tenant under the provision of this Article IX(a), Landlord, in its sole and absolute discretion, after giving not less than seven days written notice to Tenant, shall have the right to pay any such tax, lien or encumbrance incumbrance on Landlord's property or upon the Transmitter Building, and any amounts so paid by Landlord together with any reasonable expenses, including attorneys' fees, incurred by Landlord in connection therewith shall be reimbursed by Tenant on demand.

Appears in 1 contract

Sources: Tower Lease Agreement (Acme Intermediate Holdings LLC)