LIEN OR ENCUMBRANCE Clause Samples

A Lien or Encumbrance clause establishes that the property or asset in question must be free from any legal claims, debts, or restrictions that could affect ownership or use. In practice, this clause requires the seller or owner to confirm that there are no outstanding mortgages, unpaid taxes, or third-party interests attached to the asset at the time of transfer. Its core function is to protect the buyer or recipient by ensuring they receive clear and undisputed title, thereby preventing future legal disputes or financial liabilities related to prior claims.
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LIEN OR ENCUMBRANCE. The Provider will not create, or allow any other person to create, any lien or encumbrance on any property belonging to the Council, the Council’s Equipment and/or on the Council’s Premises.
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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.
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LIEN OR ENCUMBRANCE. The Concessionaire will not create, or allow any other person to create, any lien or encumbrance on any property belonging to the Council, the Council’s Equipment and/or on the Council’s Premises.
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LIEN OR ENCUMBRANCE. SEVERANCE..............................................................................................................................................
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LIEN OR ENCUMBRANCE. If the Title Defect is a lien or similar encumbrance on a Lease, the Defect Value shall be the cost of removing such lien or encumbrance;
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LIEN OR ENCUMBRANCE 
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Related to LIEN OR ENCUMBRANCE

  • Liens and Encumbrances The Company shall not directly or indirectly make, create, incur, assume or permit to exist any assignment, transfer, pledge, mortgage, security interest or other lien or encumbrance of any nature in, to or against any part of the Pledged Property or of the Company's capital stock, or offer or agree to do so, or own or acquire or agree to acquire any asset or property of any character subject to any of the foregoing encumbrances (including any conditional sale contract or other title retention agreement), or assign, pledge or in any way transfer or encumber its right to receive any income or other distribution or proceeds from any part of the Pledged Property or the Company's capital stock; or enter into any sale-leaseback financing respecting any part of the Pledged Property as lessee, or cause or assist the inception or continuation of any of the foregoing.