Lien shall definition

Lien shall mean any interest in property securing an obligation, whether such interest is based on common law, statute or contract, and including any restriction on the use, voting, transfer, receipt of income or other exercise of any attributes of ownership, any security interest or lien arising from a mortgage, claims, encumbrance, pledge, charge, easement, servitude, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes. The term "Lien" shall also include reservations, exceptions, covenants, conditions, restrictions, leases, subleases, licenses, occupancy agreements, pledges, equities, charges, assessments, covenants, reservations, defects in title, encroachments and other burdens, and other title exceptions and encumbrances affecting property of any nature, whether accrued or unaccrued, or absolute or contingent.

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Lien shall mean: (a) any interest in Property securing an obligation ---- owed to, or a claim of a Person other than the owner of the Property, whether such interest is based on common law, statute, or contract, and including without limitation, a security interest, charge, claim, or lien arising from a mortgage, deed of trust, encumbrance, pledge, hypothecation, assignment, deposit arrangement, agreement, security agreement, conditional sale contract, trust receipt, or lease, consignment or bailment for security purposes; and (b) to the extent not included under clause "(a)," any reservation, exception, encroachment, easement, right-of-way, covenant, condition, restrictment, lease, or other title exception or encumbrance affecting Property.

Lien shall mean any interest in Property securing an obligation owed to, or a claim by, a Person other than the owner of the Property, whether such interest is based on common law, statute or contract, including, without limitation, any security interest, mortgage, deed of trust, pledge, hypothecation, judgment lien or other lien or encumbrance of any kind or nature whatsoever, any conditional sale or trust receipt, any lease, consignment or bailment for security purposes and any Capitalized Lease. The term "Lien" shall include reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases and other title exceptions and encumbrances affecting Property. Loans shall mean the Revolving Credit Loans and the Letter of Credit Loans made by the Banks pursuant to the Revolving Credit Agreement. Mercantile shall mean Mercantile Bank National Association, a national banking association, in its individual corporate capacity as a Bank hereunder and not as Agent or Collateral Agent hereunder.

Examples of Lien shall in a sentence

• Such Lien shall survive the satisfaction and discharge of this Indenture.

• Such Lien shall survive the satisfaction and discharge of this Indenture and the resignation or removal of the Trustee.

• Any Lien created for the benefit of the Holders of the Notes pursuant to the preceding sentence shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien.

• Such Lien shall survive the resignation or removal of the Trustee, the satisfaction and discharge of this Indenture and the termination of this Indenture.

• Any Lien created for the benefit of the Holders pursuant to the preceding sentence shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien.

• Such Lien shall survive the resignation or removal of the Trustee and the satisfaction and discharge of this Indenture.

• Such Lien shall survive the satisfaction and discharge or termination for any reason of this Indenture and the resignation or removal of the Trustee.

• Such Lien shall survive the satisfaction and discharge of this Indenture and resignation or removal of the Trustee.

• Such Lien shall survive the satisfaction and discharge of all Notes under this Indenture.

• Such Lien shall survive the resignation or removal of the Trustee, the satisfaction and discharge and the termination of this Indenture.

More Definitions of Lien shall

Lien shall mean: (a) any interest in property securing an obligation owed to, or a claim by, a Person other than the owner of such property, whether such interest is based on common law, statute, or contract, and including without limitation, a security interest, charge, claim, or lien arising from a mortgage, deed of trust, encumbrance, pledge, hypothecation, assignment, deposit arrangement, agreement, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes (but excluding any lease, consignment or bailment which is not for security purposes) and (b) to the extent not included in clause (a), any reservation, exception, encroachment, easement, right-of-way, covenant, condition, restriction, lease or other title exception or encumbrance affecting property. Material Adverse Effect shall mean a material adverse effect on (a) the business, condition (financial or otherwise), operations, performance or properties of Lessee or the Parent and its Subsidiaries taken as a whole, (b) the legality, validity, binding effect, or enforceability of any Operative Agreement or (c) the ability of Lessee to perform its obligations in any material respect under any Operative Agreement.