Satisfaction of Liens Sample Clauses
The Satisfaction of Liens clause requires that any outstanding liens or claims against a property or asset be fully paid off and released, typically before or at the time of a transaction such as a sale or refinancing. In practice, this means the party responsible must ensure all debts secured by liens—such as mortgages, tax liens, or contractor claims—are settled and that official documentation proving their release is provided. This clause serves to protect the interests of the buyer or new lender by ensuring they receive clear title to the property, free from prior encumbrances or legal claims.
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Satisfaction of Liens. Within the time periods permitted for payment, upon entry of final, nonappealable judgment in any action in which StadCo contests any such claim of Lien, if such final judgment shall establish the validity of the claim secured by the Lien, or any part thereof, and within thirty (30) days after the filing of any Lien for record which StadCo does not in good faith contest, StadCo shall fully pay and discharge such judgment or Lien, as the case may be, and StadCo shall reimburse the Authority upon demand for any and all loss, damage, and expense, including reasonable attorneys’ fees, which the Authority may suffer or be put to by reason thereof plus interest at the Default Rate.
Satisfaction of Liens. For the avoidance of doubt, this Article 4 is subject in all respects to Article 12 (including in particular Section 12.1.3).
Satisfaction of Liens. Lessor shall satisfy or cancel of record all existing liens and encumbrances affecting the Premises as of the Lease Date except as otherwise set forth in this Lease.
Satisfaction of Liens. For the avoidance of doubt, this Article VII is subject in all respects to Article XIII.
Satisfaction of Liens. Within the time periods permitted for payment, upon entry of final, nonappealable judgment in any action in which Bristol contests any such claim of Lien, if such final judgment shall establish the validity of the claim secured by the Lien, or any part thereof, and within thirty (30) days after the filing of any Lien for record which Bristol does not in good faith contest, Bristol shall fully pay and discharge such judgment or Lien, as the case may be, and Bristol shall reimburse the Fair Board upon demand for any and all loss, damage, and expense, including reasonable attorneys’ fees, which the Fair Board may suffer or be put to by reason thereof plus interest at the Default Rate.
Satisfaction of Liens. Immediately upon entry of final judgment in any such action in which Tenant contests any such claim of lien, and if such final judgment shall establish the validity of the lien, or any part thereof, and within fifteen (15) days after the filing of any lien for record which Tenant does not contest, Tenant shall fully pay and discharge such judgment or lien, as the case may be, and Tenant shall reimburse Lessor upon demand for any and all loss, damage and expense, including reasonable attorney's fees, which Lessor may suffer or be put to by reason thereof. Nothing contained herein shall prevent Lessor, at the cost and for the account of Tenant, from satisfying any such judgment or lien, as the case may be, in the event Tenant fails or refuses to satisfy the same as herein provided, and all costs incurred by Lessor in so doing shall be immediately due and payable as Additional Rent.
Satisfaction of Liens. At the Closing, Seller shall cause all Liens other than Permitted Liens on or relating to any of the Purchased Assets, to be released, extinguished, and discharged in full and shall deliver to Buyer instruments releasing, extinguishing, and discharging all such Liens, and all rights and claims of any holder(s) of any of such Liens with respect to any of the Purchased Assets, all in such form and substance as Buyer shall reasonably require (collectively the “Lien Release Instruments”).
Satisfaction of Liens. All claims of others against the property, such as mortgage liens, must be paid in full or satisfied on or before the closing. Seller may satisfy such claims from the remainder of the purchase price paid at closing.
Satisfaction of Liens. If at the Closing there are any liens on the Property which Seller is obligated under the terms of this Agreement to pay and discharge, Seller or Purchaser shall have the right to instruct the Title Company to use any cash portion of the Purchase Price to satisfy the same. Provided that Seller shall have delivered to the Title Company at or before the Closing acceptable pay-off letters from any lien holders verifying the amounts to be paid at Closing to satisfy and release such liens of record and Seller authorizes the Title Company to use the Purchase Price (or a portion thereof) to pay such liens, then the existence of any such liens to be satisfied and released out of the Purchase Price shall not be deemed Objections to title.
Satisfaction of Liens. If Secured Party disposes of the Collateral following default, the proceeds of such disposition shall be applied first to the Note secured by the Guaranty included in the Obligation, and thereafter to all remaining Obligations secured hereby. For purposes of this paragraph, an extended or renewed guaranty will be considered executed on the date of the original Guaranty.