Voluntary Encumbrance definition

Voluntary Encumbrance means any mortgage, trust deed, security agreement, pledge or public improvement assessment lien, or any lien arising from labor or services performed or materials supplied or furnished, or any combination thereof, upon or in respect of property.

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Voluntary Encumbrance means with respect to the Property, title exceptions affecting the Property that are knowingly and intentionally created by Seller through the execution by Seller of one or more instruments creating or granting such title exceptions; provided, however, that the term “Voluntary Encumbrances” as used in this Agreement shall not include the following: (a) any Permitted Exceptions; (b) any title exception created pursuant to a Space Lease by a tenant thereunder; (c) any title exceptions that are approved, waived or deemed to have been approved or waived by Buyer or that are created in accordance with the provisions of this Agreement; and (d) any title exceptions which, pursuant to a Space Lease for the Property or otherwise, are to be discharged by a tenant or occupant of the Property.

Voluntary Encumbrance means with respect to each Real Property, title exceptions affecting such applicable Real Property that are knowingly and intentionally created by the applicable Seller through the execution by such Seller of one or more instruments creating or granting such title exceptions; provided, however, that the term “Voluntary Encumbrances” as used in this Agreement shall not include the following: (a) any Permitted Exceptions; and (b) any title exceptions that are approved, waived or deemed to have been approved or waived by Buyer or that are created in accordance with the provisions of this Agreement.

Examples of Voluntary Encumbrance in a sentence

The parties acknowledge and agree that Seller shall have the right to apply or cause Escrow Agent to apply all or any portion of the Purchase Price to cause the release of any Post-Effective Date Voluntary Encumbrance, Financing Lien or any Monetary Encumbrance when escrow is broken at Closing.
The parties acknowledge and agree that Sellers shall have the right to apply or cause Escrow Agent to apply all or any portion of the Purchase Price to cause the release of any Post-Effective Date Voluntary Encumbrance, Financing Lien or any Monetary Encumbrance when escrow is broken at Closing.
The parties acknowledge and agree that the Sellers shall have the right to apply or cause Escrow Agent to apply all or any portion of the Cash Consideration to cause the release of any Existing Financing Liens, Post-Effective Date Voluntary Encumbrance or Post-Effective Date Monetary Encumbrance.
Sellers agree that they will not create, suffer or permit to be created, and that they will promptly remove or discharge, any liens or encumbrances against any of the Properties arising subsequent to the date of this Agreement and prior to the Closing Date, provided that Sellers shall not be obligated to expend more than the net Allocable Purchase Price (after closing adjustments) to remove any Voluntary Encumbrance.
The failure or refusal of Sellers to remove a Voluntary Encumbrance to the extent provided above, shall constitute a default hereunder.

More Definitions of Voluntary Encumbrance

Voluntary Encumbrance means an Encumbrance that is not an Involuntary Encumbrance.

Voluntary Encumbrance means with respect to each Property, liens or encumbrances that are affirmatively placed or caused to be placed on such Property by the Sellers; provided, however, that the term “Voluntary Encumbrance” as used in this Agreement shall not include the following: (a) any Permitted Exceptions; (b) any title exceptions that are approved, waived or deemed to have been approved or waived by the Buyer; and (c) any title exceptions which, pursuant to a Space Lease for the Property or otherwise, are to be discharged by a Tenant or occupant of the Property.

Voluntary Encumbrance means any (a) mortgage or deed of trust, (b) mechanics' or materialmens' liens, (c) liens for unpaid taxes, assessments, utility charges or other governmental impositions, (d) any other lien or encumbrance granted, assumed or suffered to exist securing the repayment of money or the performance of an obligation and (e) any encumbrance, including a lease, easement, license, covenant or restriction, granted by Seller after the date hereof.

Voluntary Encumbrance means any title exception affecting the Property that is voluntarily granted or created by, through or under Seller; provided, however, that the term “Voluntary Encumbrances” as used in this Agreement shall not include any Permitted Exceptions.

Voluntary Encumbrance means with respect to each Individual Property, title exceptions affecting such Individual Property that are knowingly and intentionally created by Sellers through the execution by Sellers or one of its Affiliates of one or more instruments creating or granting such title exceptions; provided, however, that the term “Voluntary Encumbrances” as used in this Agreement shall not include the following: (i) any Permitted Exceptions; (ii) any title exception created pursuant to a Tenant Lease by a Tenant thereunder or pursuant to the 5th and ▇▇▇▇ Ground Lease by the 5th and ▇▇▇▇ Ground Lessor; (iii) any title exceptions that are approved, waived or deemed to have been approved or waived by Purchaser or that are created in accordance with the provisions of this Agreement; and (iv) any title exceptions which, pursuant to a Tenant Lease for the Property or otherwise, are to be discharged by a Tenant or occupant of the Property, or which pursuant to the 5th and ▇▇▇▇ Ground Lease are to be discharged by the 5th and ▇▇▇▇ Ground Lessor.

Voluntary Encumbrance means in respect of an Exiting Shareholder an Encumbrance put in

Voluntary Encumbrance means with respect to the Property, title exceptions affecting the Property that are knowingly and intentionally created by, or as a result of, Seller’s execution (or Seller’s written consent thereto) of one or more instruments creating or granting such title exceptions; provided, however, that the term “Voluntary Encumbrances” as used in this Agreement shall not include the following: (a) any Permitted Exceptions; (b) any title exceptions created by a Tenant under a Space Lease (through no default, breach or fault of Seller), or by any Ground Lessor pursuant to the Ground Leases (through no default, breach or fault of Seller); and (c) any title exceptions that are approved in writing, waived or deemed to have been approved or waived by Buyer or that are created in accordance with the provisions of this Agreement.