Satisfaction of Lien Clause Samples

The Satisfaction of Lien clause establishes the obligation for a party, typically a contractor or property owner, to ensure that any liens placed on a property as a result of work performed or materials supplied are fully paid off and released. In practice, this means that if a subcontractor or supplier files a lien due to nonpayment, the responsible party must resolve the claim, often by paying the outstanding amount or otherwise negotiating a release. This clause is essential for protecting property owners from the risk of encumbrances on their property title and ensures that all parties involved in a project are compensated, thereby preventing legal disputes and delays in property transactions.
Satisfaction of Lien. All amounts paid by an Owner toward a delinquent assessment shall be credited first to reduce the principal amount of the debt. Upon payment or other satisfaction of a delinquent assessment for which a Notice was recorded, the Association shall record a certificate stating the satisfaction and release of the assessment lien.
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Satisfaction of Lien. 13 6.7.4 Lien Eliminated By Foreclosure..................................... 13 6.8
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Satisfaction of Lien. Tenant shall not remove or otherwise recover any of Tenant’s property until all amounts secured have been paid in full, including applicable late payment charges and interest. If Landlord terminates Tenant’s rights under the Lease pursuant to the section above entitled Tenant’s Default, Landlord may proceed to discharge Landlord’s lien by sale of Tenant’s property at public or private sale without further notice to Tenant. Tenant shall be paid any amount exceeding that required to discharge such lien and pay the costs of sale, including any advertising and preparation of property for sale, provided, however that the amount paid to Tenant shall be net of the amount required to discharge such lien and pay the cost of the sale. Including any advertising and preparation of property for sale, Landlord shall not be precluded from purchasing such property at public sale.
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Related to Satisfaction of Lien

  • Satisfaction of Liabilities The Tenant shall have the right but not the obligation to pay for the Landlord’s liabilities, obligations, responsibilities and/or debts associated with the Site, including without limitation, any liabilities, obligations and/or debts owed to laborers, vendors, brokers, materialmen, and other service providers, and then offset against the Rent any such amount(s) paid by the Tenant.

  • Satisfaction of Obligations The Borrower shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves with respect thereto have been provided on the books of the Borrower.

  • Assumption and Satisfaction of Liabilities Except as otherwise specifically set forth in this Agreement or any Ancillary Agreement, from and after the Effective Time, (a) Dover shall, or shall cause another member of the Dover Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill, in accordance with their respective terms, all of the Dover Liabilities and (b) ▇▇▇▇▇▇▇ shall, or shall cause another member of the ▇▇▇▇▇▇▇ Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill, in accordance with their respective terms, all the ▇▇▇▇▇▇▇ Liabilities, in each case regardless of (i) when or where such Liabilities arose or arise, (ii) where or against whom such Liabilities are asserted or determined, (iii) whether arising from or alleged to arise from negligence, gross negligence, recklessness, violation of law, willful misconduct, bad faith, fraud or misrepresentation by any member of the Dover Group or the ▇▇▇▇▇▇▇ Group, as the case may be, or any of their past or present respective directors, officers, employees, or agents, (iv) which entity is named in any action associated with any Liability and (v) whether the facts on which they are based occurred prior to, on or after the date hereof.

  • Satisfaction of Claims (i) All claims for indemnification by the Parent Indemnified Parties under this Article X shall be satisfied first via payment from the Escrow Fund in accordance with Section 10.3. If a Parent Indemnified Party is entitled to recover a Loss pursuant to this Article X, and either (i) the amount of Losses claimed by Parent Indemnified Parties in Officer Certificates exceeds the amount remaining in the Escrow Fund, or (ii) the Escrow Fund has been distributed to Stockholders following the Expiration Date, then, subject to the limitations set forth in this Article X, each Stockholder shall be severally, and not jointly, liable for such Stockholder’s Pro Rata Portion of such Loss, in which case such Stockholder shall make payment directly to such Parent Indemnified Party except to the extent that Parent has set aside amount of an Earnout Payment in respect of such Loss. (ii) Subject to the limitations set forth in Section 10.5, If Parent shall deliver an Officer’s Certificate specifying Losses in excess of the then available Escrow Fund (such Losses, the “Excess Losses”), Parent may set aside an amount equal to such Excess Losses from any unpaid Earnout Payment until the final resolution of the claims set forth in such Officer’s Certificate in accordance with this Article X. Upon such final resolution, Parent shall be entitled, in its sole discretion, to satisfy any such Excess Losses to which an Indemnified Party is entitled out of such retained amount (and any amount in excess of such Losses, if any, shall be paid to the Stockholders in accordance with this Agreement), with any Earnout Payment that has been earned being reduced by the amount of such Losses; provided that Parent may not reduce future Earnout Payments for such Excess Losses unless and until the amount of Losses claimed by Indemnified Parties in Officer Certificates exceeds the amount remaining in the Escrow Fund.

  • Satisfaction of Conditions The conditions precedent set out in Section 6.1, Section 6.2 and Section 6.3 shall be conclusively deemed to have been satisfied, waived or released at the Effective Time.