Common use of Encumbrancers Clause in Contracts

Encumbrancers. if an encumbrancer or lienor takes possession of any part of the property of any Loan Party (other than a holder of Non-Recourse Debt taking possession of the Non-Recourse Asset to which such debt relates) which property has a fair market value in excess of the Threshold Amount, or if execution or other similar process is enforced against such property and such taking of possession or enforcement is not being contested by such Loan Party in good faith and the encumbrancer or lienor remains in possession for any period of twenty (20) consecutive days;

Encumbrancers. if an encumbrancer or lienor takes possession of any part of the property of any Loan Party (other than a holder of Non-Recourse Debt taking possession of the Non-Recourse Asset to which such debt relates) which property has a fair market value in excess of the Threshold Amount, or if execution or other similar process is enforced against such property and such taking of possession or enforcement is not being contested by such Loan Party in good faith and the encumbrancer or lienor remains in possession for any period of twenty (20) consecutive days;