Encumbrances enforceable Sample Clauses
The 'Encumbrances enforceable' clause establishes that any encumbrances—such as liens, charges, or other third-party rights—affecting the subject property or asset are valid and legally binding. In practice, this means that the buyer or transferee acknowledges the existence of these encumbrances and agrees that they will continue to be effective after the transaction. This clause ensures that all parties are aware of and accept any existing legal claims or restrictions on the property, thereby preventing future disputes and clarifying the status of the asset being transferred.
Encumbrances enforceable any Encumbrance (other than Permitted Liens) in respect of any of the property (or part thereof) which is the subject of any of the Security Documents becomes enforceable; or
Encumbrances enforceable any Encumbrance (other than Permitted Encumbrances) in respect of, or otherwise in connection with, any Security Property or any other ▇▇▇▇▇ Group Assets is or becomes enforceable and is not discharged within ten (10) Banking Days after any Obligor becomes aware of such enforceability; or