Examples of Existing Lien in a sentence
The Borrower shall, within five (5) Business Days of receipt thereof, prepay the Loans and other Obligations in an amount equal to 100% of the net cash proceeds of any non-ordinary course sale or other disposition (including as a result of casualty or condemnation) by the Borrower of any of the Collateral, except proceeds that are subject to an Existing Lien or that are required to be paid to the holder of an Existing Lien or as otherwise provided in any Approved 363 Sale or the related 363 Sale Order.
At the time she executed the Security Instrument, Ms. Zepeda requested a payoff of the Prior Existing Lien.
The Bond to Discharge Existing Lien was filed on July 11, 2008.Meanwhile, the case was certified as ready for trial and a pretrial conference was held on June 5, 2008, during which the parties agreed that a trial was unnecessary and that this matter could be disposed of on cross-motions for summary judgment.
Satisfaction of the Prior Existing Lien was memorialized by the recording of a release of lien in the Fort Bend County deed records.
The Seller will not be obligated to repurchase those Mortgage Loans for Material Breaches of Representations and Warranties that arise as a result of those Post Origination Liens because it will be required to indemnify and reimburse the Trust for the Existing Lien Indemnification Amount for a period of up to 36 months following the Closing Date (the “Indemnification Period”).100% of the Mortgage Loans in the Mortgage Pool were included in a tax and title review.