Monetary Encumbrances definition

Monetary Encumbrances has the meaning set forth in Section 4.1.4.

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Monetary Encumbrances means all mortgages, deeds of trust, mechanics’ liens, security interests, security instruments encumbering any Location, judgments and other monetary liens and encumbrances affecting title to or ownership of any Location, including, without limitation, liens for delinquent real estate taxes and assessments, but excluding, however, liens for taxes and assessments on any Location not yet due and payable.

Monetary Encumbrances means monetary Encumbrances, including, without limitation, all mortgages or other monetary encumbrances of record that are not disclosed by the Seller Disclosure Letter or other exhibits to this Agreement as they relate to such Seller (other than Taxes and assessments and the Encumbrances created or suffered by Buyer pursuant to such Taxes or assessments ) which are unpaid and liquidated. For purposes of the definition of “Monetary Encumbrances,” an Encumbrance is “liquidated” only if it is fixed either by agreement of a Seller and the party asserting the Encumbrance or by operation of Law.

Examples of Monetary Encumbrances in a sentence

In addition, Seller shall have the obligation to cure any Monetary Encumbrances on or prior to the Closing Date.
If the Partnership fails to cure Monetary Encumbrances or title defects created by the Partnership in favor of the Partnership or its Affiliates that it is obligated to cure in accordance with Section 12.2, such failure shall be a default by the Partnership.
If any Post-Effective Date Monetary Encumbrances exceeds $100,000.00 and Seller elects not to remove same, Buyer shall have the right to satisfy the excess to clear said encumbrance or terminate this Agreement upon delivery of written notice to Seller and direct the Escrow Agent to deliver the Deposit to the Buyer, at which time this Agreement shall be terminated and of no further force and effect except for the provisions which explicitly survive such termination.
The Partnership may cure Monetary Encumbrances by either of the following methods: (i) payment and release of such Monetary Encumbrance of record or (ii) posting a bond which causes such Monetary Encumbrance to cease to be a Lien on the Property.
Nothing in this subsection shall require Seller, despite any election by Seller to attempt to discharge any title exceptions, to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, other than with respect to the Pre-Effective Date Seller Encumbrances, Post Effective Date Monetary Encumbrances and Post Effective Date Seller Encumbrances (as hereinafter defined) pursuant to Section 8.3 of this Agreement.

More Definitions of Monetary Encumbrances

Monetary Encumbrances has the meaning set forth in Section 6.18(c).

Monetary Encumbrances means all (a) deeds of trust or mortgages, assignments of leases, negative pledges, pledge agreements, financing statements, and other similar financing items encumbering the Property or the outstanding equity interests of any of the Companies, (b) judgment liens against any Company or any of their respective Affiliates which encumber all or any portion of the Property, and (c) any mechanics or similar liens encumbering the Property, excluding those mechanics or similar liens filed in connection with capital projects which are still in progress.

Monetary Encumbrances means mortgages, deeds of trust, and other encumbrances securing an obligation to pay money; provided, however, that Monetary Encumbrances shall not include property taxes (other than special assessments) for the year in which Closing occurs and common area maintenance charges, if any, which are not yet due and payable.

Monetary Encumbrances means any recorded mortgages, liens to secure income taxes, delinquent property tax and assessment liens against the Property and any other recorded liens that are incurred by Seller and can be cured or removed with the payment of a liquidated amount.

Monetary Encumbrances means all mortgages, deeds of trust and liens to which Seller is a party or which Seller caused to secure or enforce the payment of money other than liens for taxes not yet due and owing. Seller shall not place, permit, or cause to be placed any liens or encumbrances on the title to the Property from the date of the Commitment through Closing or thereafter. If Seller places, permits, or causes a lien or encumbrance on the Property, contrary to the provisions of this Agreement, which can be removed by the payment of money, Escrow Agent is hereby expressly authorized, directed, and instructed to pay such monies in order to remove the lien or encumbrance at Closing from monies otherwise payable to Seller at Closing and the net proceeds otherwise available to Seller at Closing shall be reduced accordingly. To the extent that monies available to Seller at Closing are insufficient to cause any such lien or encumbrance to be removed, Seller shall, on or before the date set for Closing, cause additional monies to be deposited with Escrow Agent to enable Escrow Agent to remove the lien or encumbrance. If at any time prior to the Closing, Escrow Agent shall issue an amended Commitment which discloses additional matters, the provisions set forth above in this paragraph 5(a) shall govern the review, objection and resolution obligations of the parties with respect to such additional matters (with Buyer’s objection period shortened to three (3) business days or the Closing Date whichever first occurs, Seller’s objection response period to ten (10) days or the Closing Date whichever first occurs and with any termination or deemed termination to occur no later than the Closing Date). If Buyer fails to deliver any objection, Buyer shall be deemed to have elected to proceed to Closing. Title to the Property shall be conveyed subject only to those liens, easements, rights of way and other encumbrances as may be approved or deemed approved by Buyer as provided in paragraph 5(a) and 5(b) above (the “Permitted Exceptions”).

Monetary Encumbrances means (a) any past due real estate taxes and other assessments against the Property which constitute or [*] Indicates that information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. may constitute a lien thereon, (b) any mortgages, assignments of rent and UCC financing statements recorded or filed against the Property, (c) any mechanics', materialmen's or similar liens recorded, filed or attached against the Property or pending claims in such regard which could become so recorded, filed or attached, (d) any judgments, lis pendens or similar claims which are or could be recorded, filed or attached against the Property and/or (e) any other encumbrances, liens, security interests, documents or instruments on or recorded or filed against the Property which secure the payment of money.

Monetary Encumbrances means any mortgage, judgment, lien or other encumbrance to the Additional Property that can be satisfied by payment of a liquidated amount.

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