Further Encumbrance Sample Clauses
Further Encumbrance. (a) Trustor covenants that at all times prior to the discharge of the Obligations, except for Permitted Liens and Permitted Dispositions, Trustor shall neither make nor suffer to exist, nor enter into any agreement for, any sale, assignment, exchange, mortgage, transfer, Lien, hypothecation or encumbrance of all or any part of the Trust Estate, including, without limitation, the Rents. As used herein, "transfer" includes the actual transfer or other disposition, whether voluntary or involuntary, by law, or otherwise, except those transfers specifically permitted herein, provided, however, that "transfer" shall not include the granting of utility or other beneficial easements with respect to the Trust Estate which have been or are granted by Trustor and are reasonably necessary to the construction, maintenance or operation of the Project.
(b) Any Permitted Lien consisting of the lien of a deed of trust which is junior to the lien of the Loan Documents (including the Security Documents) (a "Subordinate Deed of Trust") shall be permitted hereunder so long as there shall have been delivered to Beneficiary, not less than thirty (30) days prior to the date thereof, a copy thereof which shall contain express covenants in form and substance satisfactory to Beneficiary to the effect that: (i) the Subordinate Deed of Trust is in all respects subject and subordinate to this Deed of Trust; (ii) if any action or proceeding shall be brought to foreclose the Subordinate Deed of Trust (regardless of whether the same is a judicial proceeding or pursuant to a power of sale contained therein), no tenant of any portion of the Trust Estate shall be named as a party defendant nor shall any action be taken with respect to the Trust Estate which would terminate any occupancy or tenancy of the Trust Estate, or any portion thereof, without the consent of Beneficiary; (iii) any Rents, if collected through a receiver or by the holder of the Subordinate Deed of Trust, shall be applied first to the obligations secured by this Deed of Trust, including principal and interest due and owing on or to become due and owing on the Notes, the Guaranty or the other Loan Documents, and then to the payment of maintenance expenses, operating charges, taxes, assessments, and disbursements incurred in connection with the ownership, operation, and maintenance of the Trust Estate; and (iv) if any action or proceeding shall be brought to foreclose the Subordinate Deed of Trust, prompt notice of the comm...
Further Encumbrance. The Borrower shall not encumber, mortgage, pledge, assign or grant any lien or security interest in any or all of its assets to any person or entity other than those liens and security interests set forth on Schedule 3.9 hereof.
Further Encumbrance. 15 1.10 Partial Releases of Trust Estate......................................16 1.11
Further Encumbrance. Grantor will pay when due all claims for labor, materials, or supplies that if unpaid might become a lien on all or any portion of the Property. Grantor shall not permit the Property to be further encumbered by additional liens for financing without the prior written consent of Beneficiary.
Further Encumbrance. The recordation of any deed of trust (a "Further Encumbrance") securing a note having an original principal sum which, when added to the sum of the principal amount(s) of any notes secured by any deeds of trust against the Affordable Unit as of the date of recordation of the Further Encumbrance, exceeds the appraised value of the Affordable Unit.
Further Encumbrance. Seller has not created and shall not create or permit to be created any liens, leases, encumbrances, exceptions, reservations, restrictions, limitations, easements or claims of third parties affecting the Property prior to closing.
Further Encumbrance. Pledgor, without the prior written consent of ------------------- Secured Party, creates, places or permits to be created or placed, or through any act or failure to act, acquiesces in the placing of, or allows to remain, any mortgage, pledge, lien (statutory, constitutional or contractual), security interest, encumbrance or charge on the Collateral, unless the same is expressly subordinate to the security interest arising hereunder. The holder of any lien or security interest (whether superior or inferior to the lien created hereby) on the Collateral (without hereby implying Secured Party's consent to the existence, placing, creating or permitting of any such lien or security interest) institutes foreclosure or other proceedings for the enforcement of its remedies thereunder.
Further Encumbrance. Prior to the Close of Escrow, Seller shall not voluntarily create any additional title exceptions, execute any leases of the Property or further encumber the Property for a period beyond the Close of Escrow, except with Buyer’s prior written consent, which may be given or withheld in Buyer’s sole and absolute discretion. If between the date of Buyer’s approval of title and the Close of Escrow, any additional exception to title appears as shown in a supplemental title report issued by the Title Company that is not approved by Buyer or caused by Buyer or Buyer’s activities on the Property (in which case the additional title exception shall be deemed a Permitted Exception), Buyer shall give prompt written notice of such new title exception to Seller. Seller shall be obligated to remove from title (or to cause to be insured over to Buyer’s reasonable satisfaction) any such additional title exceptions that are voluntarily created by Seller between the expiration of the Feasibility Period and the Close of Escrow. With respect to any such additional title exceptions that were not voluntarily created by Seller, Buyer shall have the right to either (i) terminate this Agreement by giving written notice to Seller and Escrow Holder and obtain the refund of the Deposits, or (ii) proceed with the Close of Escrow and acquire the Property subject to such additional title exceptions. If necessary to remove such additional title exception, Seller may extend the Close of Escrow for a period of not more than thirty (30) days.
Further Encumbrance. Mortgagor shall not cause, or permit any lien or encumbrance to be filed against, or attached to, the Mortgaged Property, other than the lien of this Mortgage.
Further Encumbrance. Create, incur, assume, permit or suffer to -------------------- exist, after knowledge of the existence thereof, pledge, lien, hypothecation, charge (fixed or floating), security interest or other encumbrance whatsoever on the Pledged Collateral except the encumbrance created by and permitted by the Stock Pledge; or