Unencumbered means, with respect to any Hotel Property, at any date of determination, the circumstance that such Hotel Property on such date:
Unencumbered with respect to any asset, as of any date of determination, the circumstance that such asset on such date (a) is not subject to any Liens or claims (including restrictions on transferability or assignability) of any kind (excluding Permitted Encumbrances), (b) is not subject to any agreement (including (i) any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset and (ii) if applicable, the organizational documents of any Entity) which prohibits or restricts in a material manner Kimco or any of the Entities from creating, incurring, assuming or suffering to exist any Lien upon, or conveying, selling, leasing, transferring or otherwise disposing of, any assets or Capital Stock of Kimco or any of the Entities (excluding any agreement which limits generally the amount of secured Indebtedness which may be incurred by Kimco and the Entities) and (c) is not subject to any agreement (including any agreement governing Indebtedness incurred in order to finance or refinance the acquisition of such asset) which entitles any Person to the benefit of any Lien (other than Permitted Encumbrances) on any assets or Capital Stock of Kimco or any of the Entities, or would entitle any Person to the benefit of any Lien (other than Permitted Encumbrances) on such assets or Capital Stock upon the occurrence of any contingency (other than pursuant to an “equal and ratable” clause contained in any agreement governing Indebtedness).
Unencumbered means free of legal, regulatory, contractual or other restrictions on the ability of the Reporting Bank to liquidate, sell, transfer or assign the assets.
Examples of Unencumbered in a sentence
Unencumbered appropriations lapse at the end of each fiscal year.
Unencumbered appropriations are generally subject to lapse 60 days after the end of the fiscal year for which they were appropriated.
Unencumbered Cash for the actual year turn 'Red' if violation occurs.
Unencumbered appropriations return (lapse) to the unappropriated balances in the individual funds at the end of each fiscal year, which coincides with the calendar year.
As of each Reporting Date, Unencumbered Assets (as defined below) shall be at least 125% of Unsecured Debt (as defined below).
More Definitions of Unencumbered
Unencumbered means that a state has no current disciplinary action against an advanced practice registered nurse’s license or authority to practice.
Unencumbered means that such asset is not subject to any Lien (except for Liens permitted under Sections 6.01(1), (2) or (6)).
Unencumbered means, with respect to any asset, that such asset is not, and the direct or indirect interests of Borrower therein are not, subject to any negative pledge or Lien to secure all or any portion of Secured Indebtedness.
Unencumbered means, with respect to any Hotel, at any date of determination, the circumstance that such Hotel on such date:
Unencumbered means, in respect of any property or asset of any Person(s), such property or asset is free and clear of all Liens (other than Liens to or in favor of Bank), and no Lien of any nature whatsoever (other than Liens to or in favor of Bank) shall be placed or exist upon or in respect of any such property or asset.
Unencumbered means, with respect to any property, that such property (a) is not subject to any Lien other than Permitted Liens which do not secure Indebtedness, (b) is not subject to any Negative Pledge and (c) is not held by a Person any of whose direct or indirect equity interests are subject to a Lien or Negative Pledge.
Unencumbered means, with reference to a license, certification, or registration,