Encumbrances definition
Examples of Encumbrances in a sentence
Except as contemplated by clause (f) of the second preceding sentence, none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage.
Each related Mortgage is a legal, valid and enforceable first lien on the related Borrower’s fee or leasehold interest in the Mortgaged Property in the principal amount of such Mortgage Loan or allocated loan amount (subject only to Permitted Encumbrances (as defined below) and the exceptions to paragraph (6) set forth on Schedule D-1 to this Exhibit D (each such exception, a “Title Exception”)), except as the enforcement thereof may be limited by the Standard Qualifications.
All of the Shares have been duly authorized, are validly issued, fully paid and nonassessable, and are owned of record and beneficially by Seller, free and clear of all Encumbrances.
As of the Closing Date, Seller was the sole and exclusive owner of all right, title, and interest in and to the Technology, free and clear of all Encumbrances.
Each of the Asset Entities has an interest in the Fiber Network Assets and the access rights granted pursuant to the Fiber Network Underlying Rights Agreements, held by it, free and clear of all Liens except for Permitted Encumbrances.