Common use of Encumber Clause in Contracts

Encumber. The Vendor has taken Bank loan for the purpose of implementation and execution of the Project and created a mortgage in respect of the Premises, but shall remove such encumbrance, so far as the Composite Unit is concerned, before handing over its possession.

Encumber. The Vendor has taken Bank loan “▇▇▇▇▇▇ ▇▇▇▇▇ Finance Ltd” for the purpose of implementation and execution of the Project and created a mortgage in respect of the Premises, but shall remove such encumbrance, so far as the Composite Unit is concerned, before handing over its possession.