Financial Encumbrances definition

Financial Encumbrances means liens, charges, mortgages, security interests, encumbrances, or other interests or rights in any portion of the Assets which subject such Asset to payment of any obligation or which relate to claims and litigation included in the Assumed Liabilities; PROVIDED that "Financial Encumbrances" shall not include (a) the lien for property Taxes not yet due and payable, and (b) mechanics, materialman's, and warehouseman's liens and other similar statutory liens arising in the ordinary course of the conduct of the Business which are not yet perfected because payment of the amount secured is not due.
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Financial Encumbrances include any Encumbrance granted or agreed to be granted over or in respect of the Owned Property.
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Financial Encumbrances means liens against the Acquired Assets listed on Schedule 2.2(t), and all mortgages, deeds of trust and other monetary liens against any of the Acquired Assets which secure indebtedness of Seller or Seller’s Affiliates for borrowed money.
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Examples of Financial Encumbrances in a sentence

  • Developer represents and warrants that as of the Effective Date of this Agreement, there are no such Financial Encumbrances or all such prior Financial Encumbrances have been subordinated to this Agreement by a recorded document in form reasonably acceptable to the City Attorney.

  • Seller has good, marketable and insurable fee simple title to the Real Property, free and clear as of the Closing of all Liens except the Permitted Exceptions and the Financial Encumbrances to be cured or removed in accordance with this Agreement.

  • As used herein, “reasonable efforts” shall not require Seller to expend more than One Hundred and Fifty Thousand and 00/100 Dollars ($150,000.00) to cure such objections, exclusive of Financial Encumbrances (as defined below).

  • All Obligations to which the Owned Properties are subject and all obligations under Financial Encumbrances have been observed and performed in all material respects and there are no circumstances which could give rise to the restriction or termination of the continued possession, occupation, use or enjoyment of the Owned Properties or to the exercise of any powers under any Financial Encumbrances or to any Liabilities whatever.

  • The Group has exclusive and unfettered possession and occupation of the Owned Properties and there are no Financial Encumbrances in favor of third parties affecting them except as Disclosed.

  • Except with respect to Financial Encumbrances, which are governed by the last sentence of Section 4.1, Seller shall have the right, but not the obligation, within fifteen (15) days after receipt of the Title Notice (the “Title Cure Period”), to agree to remove any disapproved Exceptions before the Closing Date.

  • Seller hereby covenants to remove or cause to be satisfied any Financial Encumbrances on or before the Closing Date.

  • Copies of all Financial Encumbrances have been supplied to the Investors and are true and complete.

  • Copies of all Financial Encumbrances have been supplied to each Investor and are true and complete.

  • Save for the Existing Leases, Changsha Company (PRC) has exclusive and unfettered possession and occupation of the aboveground levels of the Changsha Property held by it as shown in SCHEDULE 8 (Changsha Property) and there are no Occupancy Rights or Financial Encumbrances other than the Mortgage in favour of third parties affecting it.


More Definitions of Financial Encumbrances

Financial Encumbrances means liens covering the Acquired Assets which secure indebtedness of Seller or Seller’s Affiliates for borrowed money.
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Financial Encumbrances include any debenture, mortgage, charge, pledge, lien, encumbrance, assignment of rent or any security interest or other security arrangement of any kind granted or agreed to be granted over or in respect of the Properties;
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Financial Encumbrances. Means exceptions to title that can be removed by the payment of money, such as deeds of trust, mortgages and construction liens.
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Financial Encumbrances means any mortgage, judgment, or mechanic’s lien.
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Related to Financial Encumbrances

  • Permitted Encumbrances means:

  • Blanket encumbrance means a trust deed or mortgage or any other lien or encumbrance,

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Encumbrances means any mortgages, pledges, liens, security interests, conditional and installment sale agreements, activity and use limitations, conservation easements, deed restrictions, encumbrances and charges of any kind.

  • Permitted Encumbrance means, with respect to any Mortgaged Property, such exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.