Encumbrances definition
Examples of Encumbrances in a sentence
Sellers are the record and beneficial owner of the Purchased Entities Equity, free and clear of any and all Encumbrances other than Encumbrances arising under applicable securities Laws.
Subject to the terms and conditions set forth herein, at the Closing, each Vendor shall sell, transfer and convey to the Purchaser, and the Purchaser shall purchase from each Vendor, all of such Vendor's rights, title and interest in and to such Vendor's Membership Interests, free and clear of all Encumbrances (other than restrictions on the transfer of securities under Applicable Securities Laws and in the Constating Documents of the Company).
All such assets are free and clear of Liens except for Permitted Encumbrances.
The Borrower shall not, nor shall it permit any Subsidiary to, create, issue, incur, assume or permit to exist any Security Interests on any of their property, undertakings or assets other than Permitted Encumbrances.
When all appropriate filings or recordings are made in the appropriate offices or other perfection action taken as contemplated hereby and by the Security Documents, the Liens created by each such Security Document will constitute fully perfected first priority Liens (subject only to Permitted Encumbrances) on and security interests in all right, title and interest of the Obligors in such Collateral subject to the limitations and exceptions set forth in the Security Documents.