Encumbrances definition
Examples of Encumbrances in a sentence
All such Equity Interests have been duly authorized and validly issued and are fully paid and non-assessable (to the extent applicable), and are owned by the Persons set forth opposite such Subsidiary’s name on Schedule C free and clear of any Encumbrances (other than restrictions on transfer pursuant to their respective Governing Documents or applicable securities laws).
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.
All such Equity Interests have been duly authorized and validly issued and are fully paid and non-assessable (to the extent applicable), and are owned by the Persons set forth opposite such Subsidiary’s name on Schedule C free and clear of any Encumbrances (other than restrictions on transfer pursuant to their respective Governing Documents or applicable securities Laws).
Each related Mortgage is a legal, valid and enforceable first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule, 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 8 below (each such exception, a “Title Exception”)), except as the enforcement thereof may be limited by the Standard Qualifications.
All Encumbrances of the Purchased Assets shall have been released and all registrations as filings related thereto discharged (or undertakings to discharge satisfactory to Buyer shall have been given).