Possessory lien definition

Possessory lien means a lien on a personal property that is valid only while the property is in the possession of the person asserting the lien or an agent of the person.
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Possessory lien means a lien dependent upon possession for com-
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Possessory lien means the right to maintain possession of a vehicle and motor vehicle registration plates against all claims of the owner and/or security lien or until all charges are paid for recovery, towing, and storage in accordance with the certificated towers tariff.
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Examples of Possessory lien in a sentence

  • Removal and impoundment of vehicles -- Reporting and notification requirements -- Administrative impound fee -- Refunds -- Possessory lien -- Rulemaking.

  • Possessory lien over aircraft may be established as legal possessory lien (on the basis of the law), contractual possessory lien (on the basis of legal action) and court possessory lien (on the basis of court decision).

  • Possessory lien of person who made encroachment along with persons which are specially authorized on that also the victims and other citizens have.

  • Where the buyer becomes insolvent( Possessory lien: The unpaid seller’s lien is a possessory lien.

  • Panama City Marina holds a Possessory lien on the vessel pursuant to Florida law, including Section 328 Florida Statutes.

  • Possessory lien exists only when the lien-holder takes possession of the collateral and according to PRC Secured Transaction Law, the eligible collateral for possessory lien is limited to personal properties.7The concepts of priority right and statutory mortgage do not exist in current PRC Secured Transaction Law.

  • Possessory lien: where a person has carried out work to an aircraft with the authorisation of the owner, thereby enhancing the aircraft’s value, that person may have a lien on the aircraft to the extent that they remain unpaid for the work carried out and may refuse to return the aircraft until they are paid.

  • When the lien claimed under ORS 87.152 (Possessory lien for labor or material expended on chattel) to 87.162 (Landlord’s lien) is for other than the storage of a chattel, if the lien claimant incurs expenses in storing the chattel prior to foreclosure, the lien claimant may charge reasonable fees for the storage of the chattel for a period not exceeding six months from the date that the lien attaches to the chattel.

  • A bond or money may be filed or deposited under subsection (1) or (2) of this section at any time after a lien for the storage of a chattel is claimed under ORS 87.152 (Possessory lien for labor or material expended on chattel) to 87.162 (Landlord’s lien) and the amount of the lien claimed is $750 or more.

  • The second roll-call will take place 20 minutes, and the third roll-call 10 minutes, before the competition starts.


More Definitions of Possessory lien

Possessory lien means a lien dependent upon possession for com- pensation to which a person is legally entitled for making repairs or per- forming labor upon, and furnishing supplies or materials for, and for the towing, storage, repair, or safekeeping of, any vehicle of a type subject to registration.
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Possessory lien means the right to retain possession of a vehicle and motor
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Possessory lien means a right of the person securing payment for services provided in the ordinary course of business that exists as long as the person remains in possession of the goods;
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Possessory lien means an interest, other than a security interest or an agricultural lien:
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Possessory lien means the same as defined in section 19 554.9333.20 5. “Warehouse” means the same as defined in section 21 554.7102.22 Sec. 2. NEW SECTION. 571A.2 Warehouse drying or storage23 lien created.24 A warehouse drying or storage lien is created as a possessory25 lien on a crop delivered by a person to a warehouse acting as a26 bailee under chapter 554, article 7, for the reasonable value27 of services related to the drying or storage of the crop by28 the warehouse. For purposes of chapter 554, the warehouse is29 a secured creditor and lienholder and the person for whom the30 warehouse renders such drying or storage services is a debtor.31 Sec. 3. NEW SECTION. 571A.3 Effectiveness, perfection, and32 termination of lien —— evidence of delivery.33 1. a. A lien becomes effective at the time a debtor34 delivers a crop to a warehouse for drying or storage.35 b. The lien is automatically perfected at the time the lien 1 becomes effective. The lien is no longer perfected on and2 after March 1 of the calendar year following the calendar year3 that the debtor delivered the crop to the warehouse.4 c. The lien is terminated when the warehouse relinquishes5 possession of the crop.6 2. Evidence of a debtor’s delivery of a crop to a warehouse7 includes but is not limited to a warehouse receipt as described8 in section 554.7202, a scale ticket, or any other reasonable9 evidence of delivery provided by the warehouse to the debtor.10 Sec. 4. NEW SECTION. 571A.4 Priority of perfected lien.11 During the period that a lien is perfected under section12 571A.3, the lien has priority over any conflicting security13 interest in or agricultural lien on the crop, regardless of14 when such security interest or agricultural lien is perfected.15 Sec. 5. NEW SECTION. 571A.5 Enforcement of lien.16 During the period that a lien is perfected under section17 571A.3, the warehouse may enforce the lien in the same manner18 as an agricultural lien is enforced pursuant to chapter 554,
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Related to Possessory lien

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Statutory Lien ’ means liens created by K.S.A. 2-1319, 2-2608, 2-3007, 34-239, 47-836, 58-201, 58-203, 58-204, 58-207, 58-218, 58-220, 58-221, 58-241, 58-242, 58-2524, 58-2525, 58-2526, 58-2527, 58-2528 and 84-7-209, and amendments thereto.

  • Landlord Liens means liens on or against the Leased Property or any payment of Rent (a) which result from any act of, or any claim against, Landlord or any owner (other than Tenant) of a direct or indirect interest in the Leased Property, or which result from any violation by Landlord of any terms of this Agreement or the Purchase Agreement, or (b) which result from liens in favor of any taxing authority by reason of any tax owed by Landlord or any fee owner of a direct or indirect interest in the Leased Property; provided, however, that "Landlord Lien" shall not include any lien resulting from any tax for which Tenant is obligated to pay or indemnify Landlord against until such time as Tenant shall have already paid to or on behalf of Landlord the tax or the required indemnity with respect to the same.

  • Lessor Lien means, with respect to any person and in respect of any property (including, without limitation, the Trust Estate, the Trust Indenture Estate, the Aircraft, Airframe, Engines, Parts or Aircraft Documents) or any payments, any Lien on such property or payments which (a) arises from claims against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) not related to any of the transactions contemplated by the Operative Agreements, (b) results from acts or omissions of such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) in violation of such person's obligations under any of the terms of the Operative Agreements, or not related to the transactions contemplated by the Operative Agreements, (c) is imposed as a result of Taxes against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) or any of its Affiliates not required to be indemnified by Lessee under the Participation Agreement, or (d) claims against such person arising out of any transfer by such person of its interest in the Aircraft, the Trust Estate or the Operative Agreements, other than a Transfer permitted by the terms of the Operative Agreements or pursuant to the exercise of remedies set forth in Section 15 of the Lease.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Lessor Liens means any Lien or disposition of title or interest arising as a result of (i) claims against Lessor, First Security Bank, National Association, in its individual capacity, or the Owner Participant not related to the transactions contemplated by the Operative Documents, (ii) any act or omission of the Owner Participant, Lessor, or First Security Bank, National Association, in its individual capacity, which is not related to the transactions contemplated by the Operative Documents or is in violation of any of the terms of the Operative Documents, (iii) claims against the Owner Participant, Lessor, or First Security Bank, National Association, in its individual capacity, with respect to Taxes or Expenses against which Lessee is not required to indemnify the Owner Participant, Lessor or First Security Bank, National Association, in its individual capacity, pursuant to Section 7 of the Participation Agreement or (iv) claims against Lessor or the Owner Participant arising out of any transfer by Lessor or the Owner Participant of all or any portion of the respective interests of Lessor or the Owner Participant in the Aircraft, the Trust Estate or the Operative Documents other than the transfer of possession of the Aircraft by Lessor pursuant to this Agreement, the transfer pursuant to the Trust Indenture or a transfer of the Aircraft pursuant to Section 9, 10 or 19 hereof or pursuant to the exercise of the remedies set forth in Section 15 hereof, provided, however, that any Lien which is attributable solely to First Security Bank, National Association or the Owner Participant and would otherwise constitute a Lessor Lien hereunder shall not constitute a Lessor Lien hereunder so long as (1) the existence of such Lien poses no material risk of the sale, forfeiture or loss of the Aircraft, (2) the existence of such Lien does not interfere in any way with the use, possession, operation, or quiet enjoyment of the Aircraft by Lessee (or any Sublessee), (3) the existence of such Lien does not affect the priority or perfection of, or otherwise jeopardize, the Lien of the Trust Indenture, (4) First Security Bank, National Association or the Owner Participant, as appropriate, is diligently contesting such Lien and (5) the existence of such Lien does not pose a material threat of interference with the payment of Rent (other than Excluded Payments in favor of First Security Bank, National Association or the Owner Participant, as appropriate).

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

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any Guarantor to secure Priority Lien Obligations.

  • Lien means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

  • Leased Personal Property shall have the meaning given such term in Section 2.1(e).

  • Permitted Encumbrances means:

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Lienholder means a person with a security interest in particular property.

  • Security Interest means any mortgage, pledge, lien, encumbrance, charge, or other security interest, other than (a) mechanic's, materialmen's, and similar liens, (b) liens for taxes not yet due and payable or for taxes that the taxpayer is contesting in good faith through appropriate proceedings, (c) purchase money liens and liens securing rental payments under capital lease arrangements, and (d) other liens arising in the Ordinary Course of Business and not incurred in connection with the borrowing of money.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Collateral has the meaning set forth in Section 2.

  • Leasehold Estate means Borrower’s interest in the Land and any other real property leased by Borrower pursuant to the Ground Lease, if applicable, including all of the following:

  • Superior Lien With respect to any Mortgage Loan, any other mortgage loan relating to the corresponding Mortgaged Property which creates a lien on the Mortgaged Property which is senior to the Mortgage Loan.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by the Collateral Agent.

  • Leasehold of any Person shall mean all of the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures.

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

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Personal Property shall have the meaning set forth in the granting clause of the Mortgage.

  • Leasehold Mortgage means any leasehold deed of trust, mortgage, deed to secure debt, assignment of leases and rents, assignment, security agreement, or other security document securing financing from a lender of Tenant and encumbering Tenant’s leasehold interest in any Demised Property.

  • Pledged Property means all Pledged Notes, Pledged Interests, Pledged Shares, all assignments of any amounts due or to become due with respect to the Pledged Interests or the Pledged Shares, all other instruments which are now being delivered by any Grantor to the Administrative Agent or may from time to time hereafter be delivered by any Grantor to the Administrative Agent for the purpose of pledging under this Security Agreement or any other Credit Document, and all proceeds of any of the foregoing.