Further Encumber Clause Samples

The "Further Encumber" clause restricts a party from placing additional liens, charges, or security interests on certain assets or property beyond what has already been agreed upon. In practice, this means that if a borrower has pledged collateral for a loan, they cannot use the same collateral to secure another loan or obligation without the lender's consent. This clause is commonly used in loan agreements to protect the lender's interest in the collateral. Its core function is to prevent dilution of the lender's security and to ensure that the collateral remains available and unencumbered for the benefit of the original secured party.
POPULAR SAMPLE Copied 1 times
Further Encumber. Except for Permitted Encumbrances, create or suffer to exist any Lien upon any of its Properties, whether now owned or hereafter acquired.
View SourceView Similar (5)
Further Encumber. Except for Permitted Encumbrances, create or suffer to exist any mortgage, pledge, lien or other encumbrance upon any of its properties or assets, real or personal, tangible or intangible, whether now owned or hereafter acquired.
View SourceView Similar (2)
Further Encumber. Except for Permitted Encumbrances, and liens granted under the Security Agreement, voluntarily create or suffer to exist any mortgage, pledge, lien or other encumbrance upon any of its properties or assets, real or personal, tangible or intangible, whether now owned or hereafter acquired.
View SourceView Similar (2)
Further Encumber. Except for Permitted Encumbrances, create or suffer to exist any mortgage, pledge, lien or other encumbrance upon the Project.
View Source
Further Encumber. 17 (c) Merge, Etc.....................................................17 (d)
View Source
Further Encumber. 41 (c) Dividends.............................................................................41 (d)
View Source
Further Encumber. Except for the Permitted Encumbrances, create or suffer to exist any Lien upon any of the Collateral, whether now owned or hereafter acquired.
View Source
Further Encumber. Except for Permitted Encumbrances, voluntarily create or suffer to exist any mortgage, pledge, lien or other encumbrance upon any of its properties or assets, real or personal, tangible or intangible including, without limitation, Borrower’s cash, marketable securities and gross revenues. Notwithstanding the foregoing or any other provision herein, the Borrower may encumber its properties or assets in connection with a borrowing that is permitted pursuant to Section 7.1.5 hereof.
View Source
Further Encumber. 21 5.1.3. Conduct of Business; Subsidiaries; Acquisitions. 21 5.1.4. Purchase Partnership Interests. 21 5.1.5. Sell and Leaseback. 21 5.1.6. Borrowings. 21 5.1.7. Investments. 21 5.1.8. Guarantees. 21 5.1.9. Change Name or Place of Business. 22 5.1.10. Special Corporate Transactions. 22
View Source

Related to Further Encumber

  • Permitted Liens; Title Insurance Each Mortgaged Property securing a Mortgage Loan is covered by an American Land Title Association loan title insurance policy or a comparable form of loan title insurance policy approved for use in the applicable jurisdiction (or, if such policy is yet to be issued, by a pro forma policy, a preliminary title policy or a “marked up” commitment, in each case with escrow instructions and binding on the title insurer) (the “Title Policy”) in the original principal amount of such Mortgage Loan (or with respect to a Mortgage Loan secured by multiple properties, an amount equal to at least the allocated loan amount with respect to the Title Policy for each such property) after all advances of principal (including any advances held in escrow or reserves), that insures for the benefit of the owner of the indebtedness secured by the Mortgage, the first priority lien of the Mortgage (which lien secures the related Whole Loan, in the case of a Mortgage Loan that is part of a Whole Loan), which lien is subject only to (a) the lien of current real property taxes, water charges, sewer rents and assessments not yet due and payable; (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record specifically identified in the Title Policy; (c) the exceptions (general and specific) and exclusions set forth in such Title Policy; (d) other matters to which like properties are commonly subject; (e) the rights of tenants (as tenants only) under leases (including subleases) pertaining to the related Mortgaged Property; (f) if the related Mortgage Loan constitutes a Crossed Underlying Loan, the lien of the Mortgage for another Mortgage Loan contained in the same Crossed Mortgage Loan Group, and (g) condominium declarations of record and identified in such Title Policy, provided that none of clauses (a) through (g), individually or in the aggregate, materially and adversely interferes with the value or principal use of the Mortgaged Property, the security intended to be provided by such Mortgage, or the current ability of the related Mortgaged Property to generate net cash flow sufficient to service the related Mortgage Loan or the Mortgagor’s ability to pay its obligations when they become due (collectively, the “Permitted Encumbrances”). For purposes of clause (a) of the immediately preceding sentence, any such taxes, assessments and other charges shall not be considered due and payable until the date on which interest and/or penalties would be payable thereon. Except as contemplated by clause (f) of the second preceding sentence none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage. Such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no claims have been made by the Mortgage Loan Seller thereunder and no claims have been paid thereunder. Neither the Mortgage Loan Seller, nor to the Mortgage Loan Seller’s knowledge, any other holder of the Mortgage Loan, has done, by act or omission, anything that would materially impair the coverage under such Title Policy. Each Title Policy contains no exclusion for, or affirmatively insures (except for any Mortgaged Property located in a jurisdiction where such affirmative insurance is not available in which case such exclusion may exist), (a) that the Mortgaged Property shown on the survey is the same as the property legally described in the Mortgage and (b) to the extent that the Mortgaged Property consists of two or more adjoining parcels, such parcels are contiguous.

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean: