Common use of Encumbrancer Clause in Contracts

Encumbrancer. If one or more encumbrancer shall take possession or shall initiate or take steps to take possession of all or any portion of the Charged Property or any similar process be initiated, levied or enforced in respect of Charged Property which constitutes real property, mining rights or claims or any rights related thereto or any other Charged Property having a fair market value in excess of $500,000; or

Encumbrancer. If one or more encumbrancer shall take possession or shall initiate or take steps to take possession of all or any portion of the Charged Property or any similar process be initiated, levied or enforced in respect of Charged Property which constitutes real property, mining rights or claims or any rights related thereto or any other Charged Property having a fair market value in excess of $500,0001,000,000; or