A "No Liens" clause indicates that the contractor or party providing goods and services agrees not to place any liens or claims against the property involved in the contract. This clause protects the property owner from potential legal claims by subcontractors or suppliers seeking payment.
(b) UCC Search. A UCC search certificate by a company acceptable to Lender reflecting that (i) no liens or security interests have been filed as to either Borrower that are not allowed by the Loan Agreement and the other Loan Documents and (ii) the Paradigm Assets are subject to no liens or security interests other than those that will be resolved by payment of the amounts specified in the “Payoff Letter” described in the Paradigm APA.
7.No Liens. Employee warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.
No Liens. As a condition of this Agreement, Colleague represents that there are no liens against the Severance Payment described in Section 2(a).
However, the Company will provide customary representations and warranties for a transaction of this nature in the definitive aircraft purchase agreement, such as due authorization, no conflicts, validity of agreement, regulatory matters, good and marketable title, airworthiness, no liens, aircraft records, manufacturer warranties, and no brokers’ fees.
To the knowledge of the undersigned, there are no Liens on any Receivable in the Trust except as described below: None
no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid employee payroll or benefits of which Borrower has not previously provided written notification to Bank.
18) The Company has satisfactory title to all owned assets, and there are no liens or encumbrances on such assets nor has any asset been pledged as collateral.
Except for the Assets Purchase Option, there is no liens, pledges, claims and other security rights and third-party rights on the Partnership Assets.
There are no Liens with respect to Taxes upon any asset of the Company.
SECTION 4.04. No Liens or Encumbrances. SELLER is conveying the assets free and clear of any liens or encumbrances incurred or accrued by SELLER warranties and representations that the assets are being conveyed with good title and free and clear of any Liens or claims of patent infringement.
no liens, encumbrances, charges, or security interests of any kind exist on the date hereof against the Assigned Interest;
No rights under the Purported Options were transferred by the Individual to any other party and there are no liens, encumbrances, security agreements, equities, options, claims or charges of any kind related to the Purported Options.
It was also verified that there are no prior year delinquencies, no liens, no supplemental charges and no water or sewer charges that are due or delinquent.
“No Liens” is a legal term used in the context of contract law, typically referring to a guarantee or assurance that a property or asset is free from any claims or legal holds by creditors. This means that the asset is not currently used as collateral for any debt and is not subject to any legal claims by third parties. It ensures that the property can be sold or transferred without any encumbrances impacting the transaction.
You should use a “No Liens” clause or certification in situations where you are:
When drafting a “No Liens” provision or statement, clarity and specificity are crucial. You might follow these general guidelines:
Example:
“The Contractor hereby certifies that all work performed under this agreement is free of any liens and encumbrances. Should any liens surface, the Contractor agrees to resolve said liens within 30 days at no additional cost to the Client.”
“No Liens” clauses appear frequently in a variety of contracts, including:
By including a “No Liens” provision in these documents, parties can mitigate the risk of future legal complications related to outstanding claims or encumbrances.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A "No Smoking" clause prohibits individuals from smoking within certain designated areas or premises, aiming to maintain a smoke-free environment for health and safety reasons. This clause may apply to all forms of smoking, including cigarettes, cigars, and electronic vaping devices, and often outlines potential penalties for violations.
The "No Third Party Beneficiaries" clause stipulates that the contract is intended solely for the benefit of the parties involved, and no external parties have any rights or claims under the agreement. This clause ensures that only the signatories have enforceable interests and precludes any unintended beneficiaries from asserting rights derived from the contract.
The "No Third Party Beneficiary Rights" clause specifies that the contract is only intended to benefit the parties involved, and not any outside individuals or entities. This ensures that no third party can claim any rights or demand any obligations from the parties based on the contract.
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