Unencumbered Land Clause Samples
The Unencumbered Land clause defines that the property being sold or transferred is free from any liens, mortgages, easements, or other legal claims that could affect ownership or use. In practice, this means the seller must ensure there are no outstanding debts secured against the land, nor any third-party rights or restrictions, before completing the transaction. This clause is essential for providing the buyer with clear and undisputed title to the property, thereby minimizing legal risks and ensuring the buyer can use or develop the land as intended.
Unencumbered Land. The Real Estate Asset commonly referred to as the Sterling Park Land Parcel, so long as such Real Estate Asset is not subject to any Liens, except for Permitted Liens under the Unsecured Revolver Agreement.
Unencumbered Land. The Real Estate Asset commonly referred to as the Sterling Park Land Parcel, so long as such Real Estate Asset is not subject to any Liens, except for Permitted Liens. Unencumbered Pool. As determined from time to time, collectively, the Eligible Unencumbered Properties that the Borrower has designated in writing to be included in the Unencumbered Pool, subject to and in accordance with the terms hereof. Unencumbered Pool Percentage. As of (i) the Closing Date and prior to December 31, 2011, 62.5% and (ii) December 31, 2011 and thereafter, 60%.
Unencumbered Land. The Borrower shall cause MoEYS to ensure that construction of New Schools is carried out on vacant land with legal entitlement in the name of the government and free from all encumbrances, habitation, dispute and/or controversy.