Encumbrance definition
Examples of Encumbrance in a sentence
Tenant shall give written notice to the holder of any Encumbrance whose name has been previously furnished to Tenant of any act or omission by Landlord which Tenant asserts as giving Tenant the right to terminate this Lease or to claim a partial or total eviction or reduction in Rent or any other right or remedy under this Lease or provided by Law.
Within ten (10) Business Days after receipt of a written request therefor, at no cost to Tenant, Tenant shall execute and deliver to Landlord any commercially reasonable amendment to this Lease as may be requested by the holder of any Encumbrance provided that such amendment may not (i) increase the Rent payable hereunder, (ii) increase Tenant’s obligations hereunder other than to a de minimis extent, or (iii) decrease Tenant’s rights hereunder other than to a de minimis extent.
Landlord covenants that during the Term, so long as Tenant shall not be in default under this Lease beyond any applicable cure period, Tenant shall have quiet and peaceable possession of the Premises, subject to the terms, covenants, conditions and provisions of this Lease, the Ground Lease and any other Encumbrance, and Landlord shall not disturb such possession except as expressly provided in this Lease.
In the alternative, however, the holder of an Encumbrance may unilaterally elect to subordinate such Encumbrance to this Lease.
Net Sale Proceeds In relation to the sale of the Waurn Ponds Property, the gross sale or disposal price set out in the relevant sale contract less the aggregate of estate agent commissions, conveyancing fees, adjustments (for both water and council rates), land tax owners corporation fees and fees associated with the discharge or release of an Encumbrance over the Waurn Ponds Property (as applicable) and any GST payable in relation to the sale contract.