Security Interest or Encumbrance definition
Security Interest or Encumbrance means any mortgage, sub mortgage, standard security charge, sub charge, pledge, lien (other than a lien arising in the ordinary course of business or by operation of law), assignation in security or other encumbrance or security interest howsoever created or arising;
Examples of Security Interest or Encumbrance in a sentence
At Completion, the Vendors must do all things necessary to transfer to the Purchasers the full, absolute and entire legal interest and beneficial interest in the Assets, free and clear of any Security Interest or Encumbrance (other than a Permitted Encumbrance), and to place the Purchasers in effective control of the Business and the Assets.