Property Lien definition

Property Lien means any deed of trust or mortgage, lien, security interest, easement, right of way, encroachment, lease, purchase contract, option to purchase, right of first refusal, servitude, restrictive covenant, limitation on use or other encumbrance or title defect of any kind.
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Examples of Property Lien in a sentence

  • Mortgagee acknowledges that there is a lien prior to this Property Lien.

  • Mortgagee reserves the right to require full repayment of the amount of NSP assistance.(3) Mortgagee acknowledges that there is a lien prior to this Property Lien.

  • Property Lien: If a building owner fails to pay the required amount within one hundred eighty (180) days, the civil penalty will be considered a debt to the city until paid in full.

  • Subject to Paragraph 3.12 relating to permitted contests, Lessee shall promptly (A) pay all Indebtedness of Lessee and other obligations prior to the time the non-payment thereof would give rise to a Lien on the Property and (B) discharge, at its sole cost and expense, any Lien on the Property which is not a Permitted Property Lien.

  • Grant Award Notice: It is anticipated that successful applicants will receive a Notice of Award from the State Superintendent via email approximately 90 days after the issuance of a Funding Decision Commitment Letter fromthe Universal Service Administrative Company (USAC).

  • In the event of default hereunder, the County, its successors and assigns, shall not be entitled to a deficiency judgment hereunder, it being understood that the liability of the CHDO under the Loan, Promissory Note, and Property Lien is limited to the CHDO interest in the Project Property.

  • It should also be noted that the IGAD Council of Ministers, meeting in Addis Ababa on 10 July 2009, called upon Eritrea to end its occupation of Djiboutian territories and desist from its destabilization agenda against Djibouti.

  • The Mortgagor represents and warrants that all Charges imposed upon or assessed against the Mortgaged Property have been paid and discharged except to the extent such Charges constitute a Permitted Mortgaged Property Lien but are not yet due and payable.

  • The Real Property Lien arises without any judicial proceeding and is therefore a statutory lien.

  • The Personal Property Lien arises only by virtue of judicial proceedings in the absence of which the sheriff’s levy and the resulting lien could not exist and is therefore a judicial lien.I conclude, finally, that the Personal Property Lien, if it is valid,41 is a judicial lien subject to avoidance upon a showing that it impairs some exemption of Debtor.

Related to Property Lien

  • Property line means the division line between two units of land.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Priority Lien means a Lien granted by a Collateral Document to the Collateral Agent upon any property of the Company or any other Obligor to secure Priority Lien Obligations.

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  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • rateable property means property on which the municipality may in terms of Section 2 of the Property Rates Act 2004 levy a rate, but excluding property fully excluded from the levying of rates in terms of Section 17 of that Act.

  • Leased Intangible Property means all Intangible Property (as defined in the Purchase and Sale Agreement) acquired by Landlord with respect to the Leased Property pursuant to the Purchase Agreement.

  • Mortgaged Real Property means any parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Real Property Assets means as to any Person as of any time, the real property assets (including interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Leasehold Property means any leasehold interest of any Credit Party as lessee under any lease of real property, other than any such leasehold interest designated from time to time by Collateral Agent in its sole discretion as not being required to be included in the Collateral.

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Purchase Money Lien means any Lien upon any fixed assets which secures the Purchase Money Indebtedness related thereto but only if such Lien shall at all times be confined solely to the asset the purchase price of which was financed or refinanced through the incurrence of the Purchase Money Indebtedness secured by such Lien and only if such Lien secures only such Purchase Money Indebtedness.

  • Real Property Asset means, at any time of determination, any interest then owned by any Loan Party in any real property.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Material Leasehold Property means a Leasehold Property which (a) is a retail or super store or distribution center or (b) has been reasonably determined by the Administrative Agent to be of material value as Collateral or of material importance to the operations of the Credit Parties after weighing the value of such property as additional Collateral against the costs and expenses associated with satisfying the requirements of Section 6.13.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.