Encumbered Equipment definition

Encumbered Equipment shall have the meaning assigned to such term in Section 2 of this Security Agreement.
Sample 1Sample 2Sample 3
Encumbered Equipment. All equipment of Borrowers subject to the first priority, valid and perfected security interest of the Lender.
Sample 1

Examples of Encumbered Equipment in a sentence

  • Unless an Event of Default has occurred and is continuing, (a) the Borrowers shall be responsible only for the payment of costs and expenses for a Qualified Appraisal requested by it and (b) no more than one appraisal shall be conducted for any particular item of Collateral during each calendar year in the case of Encumbered Real Estate and Encumbered Equipment, and each calendar quarter in the case of Eligible Inventory.

  • Upon obtaining any such Qualifying Appraisal, the Agent shall notify the Borrowers’ Agent of the appraised value of the property that is the subject thereof and upon such notification such appraised value shall be used to determine the Collateral Coverage Ratio for one year after the date of the issuance of the appraisal in the case of Encumbered Real Estate and Encumbered Equipment, and three months in the case of Eligible Inventory, except as otherwise provided herein.

  • Debtor: Xxxxxxx Company, L.P. Texas CIT Communications Finance Corporation UCC-1 10/29/03 32841503 Collateral Encumbered: Equipment now or thereafter acquired, which is leased to Lessee by Lessor pursuant to lease No. 0004139, including but not limited to, Avaya Inc.

  • Debtor: Xxxxxxx Manufacturing Company, L.P. Texas CIT Communications Finance Corporation UCC-1 10/29/03 04-0046399904 Collateral Encumbered: Equipment now or hereafter acquired, which is leased to Lessee by Lessor pursuant to Lease No. 0004139, including but not limited to, Avaya Inc.

  • Sellers shall use commercially reasonable efforts to cause the liens and encumbrances on the Encumbered Equipment to be removed as of the Orlando Closing Date.

  • Upon obtaining any such Qualifying Appraisal, the Lender shall notify the Borrowers’ Agent of the appraised value of the property that is the subject thereof and upon such notification such appraised value shall be used to determine the Collateral Coverage Ratio for one year after the date of the issuance of the appraisal in the case of Encumbered Real Estate and Encumbered Equipment, and three months in the case of Eligible Inventory, except as otherwise provided herein.

  • Sellers represent and warrant to Buyer that the cost of replacing such Encumbered Equipment does not exceed $100,000.

  • As of the Orlando Closing Date, the Seller will have good and valid title to all of the Orlando Assets, in each case free and clear of all liens, charges, security interests or other encumbrances of any nature whatsoever, except for permitted encumbrances relating to security interests originally asserted by Raycal effecting certain equipment (the "Encumbered Equipment") as more fully set forth on Schedule 5.04 hereof.


More Definitions of Encumbered Equipment

Encumbered Equipment has the meaning assigned to that term in Section 2.
Sample 1
Encumbered Equipment means all items of Equipment the acquisition of which are financed with borrowings under the Warehousing Credit Agreement, whether or not secured by any Lien.
Sample 1

Related to Encumbered Equipment

  • Covered Equipment means, unless otherwise specified in a Schedule, Covered Property:

  • Designated Equipment means any equipment designated in the SLA, upon which the Licensed System may be used; Documentation means operating manuals and other printed materials which assist the Customer to use the Licensed System including any technical and user software material as published by Pentana Solutions; Escalation Request is as set out in the SLA;

  • Leased Equipment means the computers, servers, machinery and equipment and other tangible personal property leased by Seller for use in the operation or conduct of the Business.

  • Excluded Equipment means (i) defibrillators, enhanced emergency medical kits and other medical equipment, (ii) airphones and other components or systems installed on or affixed to the Airframe that are used to provide individual telecommunications or electronic entertainment to passengers aboard the Aircraft, (iii) galley carts, beverage carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley inserts, and other branded passenger convenience or service items, (iv) any items, equipment or systems leased by Company or any Permitted Lessee (other than items, equipment, or systems that are leased from Company pursuant to the applicable Lease) or owned by Company or any Permitted Lessee subject to a conditional sales agreement or a security interest (other than the security interest granted under the Indenture), and (v) cargo containers.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Farm equipment means equipment used directly for farming

  • Qualified machinery and equipment means all new industrial

  • Fixtures and Equipment means, with respect to any Person, all of the furniture, fixtures, furnishings, machinery and equipment owned or leased by such Person and located in, at or upon the Assets of such Person.

  • Purchased Equipment means any equipment, including any Software, sold by BT to the Customer.

  • Associated equipment means equipment that is used in conjunction with a radiographic exposure device to make radiographic exposures that drives, guides, or comes in contact with the source, e.g., guide tube, control tube, control (drive) cable, removable source stop, “J” tube and collimator when it is used as an exposure head.

  • Personal Property means any machinery, equipment, tools, vehicles, furniture, leasehold improvements, office equipment, plant, parts and other tangible personal property.

  • Plant and Equipment means permanent plant, equipment, machinery, apparatus, articles and things of all kinds to be provided and incorporated in the Facilities by the Contractor under the Contract (including the spare parts to be supplied by the Contractor under GCC Sub-Clause 3.3 hereof), but does not include Contractor’s Equipment.

  • Specified Equipment means the railway vehicles which the Train Operator is entitled to use in the provision of Services on the Network, as specified in paragraph 4 of Schedule 5;

  • Excluded Personal Property means the following:

  • Machinery and equipment shall have the meaning specified in Section 1.1(c).

  • Service Equipment means any equipment, Software, systems, cabling and facilities provided by or on behalf of Verizon and used to facilitate provision of the Services at a Customer Site. Ownership of the Service Equipment does not pass to Customer. Service Equipment does not include Verizon Facilities.

  • Control equipment means equipment necessary for the setting and/or unsetting of an immobilizer.

  • School equipment means a durable school-owned machine, equipment, or tool used by a student as part of an activity, course, or program in a secondary school and includes a saw or 3D printer. “School equipment” includes a saw or 3D printer.

  • Additional Equipment means equipment that is not factory fitted in the Vehicle, including but not limited to navigation equipment (GPS), baby seat, bicycle rack etcetera;

  • Capital Equipment means machinery and equipment purchased or leased, and used in this state by the purchaser or lessee primarily for manufacturing, fabricating, mining, or refining tangible personal property to be sold ultimately at retail if the machinery and equipment are essential to the integrated production process of manufacturing, fabricating, mining, or refining. Capital equipment also includes machinery and equipment used primarily to electronically transmit results retrieved by a customer of an online computerized data retrieval system.

  • Operating Equipment means furniture, furnishings, special lighting fixtures, carpeting, draperies, decorations or other special finishing work, signs, appliances and trade fixtures and equipment that is furnished, installed or used by the Contractor in its operations on the Airport. It does not include Fixed Improvements, or repair or maintenance of Operating Equipment or Fixed Improvements or displays or decorations that are of a seasonal or temporary promotional nature.

  • Contractor’s Equipment means all apparatus, machinery, vehicles and other things required for the execution and completion of the Works and the remedying of any defects. However, Contractor’s Equipment excludes Temporary Works, Employer’s Equipment (if any), Plant, Materials and any other things intended to form or forming part of the Equipment.

  • Additional Property means, in respect of a Series, the rights and benefits provided in respect of the Series, or applicable Class, pursuant to any letter of credit, surety bond, cash collateral account, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate and/or currency swap agreement, loan agreement, enhancement agreement or other similar arrangement as contemplated under the Pooling and Servicing Agreement and as provided for in the related Series Purchase Agreement.

  • Material Equipment means such equipment, which, acting in accordance with a Reasonable and Prudent Standard, the Generator could reasonably be expected to have ordered and/or concluded a supply agreement in respect of in accordance with the Target Commissioning Date, and in any event, such equipment shall include wind turbines.

  • Field emission equipment means equipment which uses an x-ray tube in which electron emission from the cathode is due solely to the action of an electric field.