Monetary Encumbrance definition

Monetary Encumbrance shall have the meaning assigned thereto in Section 8.3(a).

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Monetary Encumbrance means any mortgage, deed of trust or similar security instrument filed or recorded against the Owned Real Property to secure indebtedness of any of the IASIS Parties for borrowed money, other than any Monetary Encumbrances that will be satisfied, discharged or paid off in connection with the Closing under this Agreement and the Merger Agreement.

Monetary Encumbrance shall have the meaning specified in Section 3.2.1 of ------------- this Agreement.

Examples of Monetary Encumbrance in a sentence

• The Primary Servicer shall provide to the Master Servicer and the Special Servicer a copy of its recommendation with respect to such matter and the materials upon which such recommendation is based (which information shall consist of the information to be included in the Additional Lien, Monetary Encumbrance and Mezzanine Financing Submission Package to the Master Servicer, in the form attached hereto as Exhibit M).

• Seller shall pay (a) one-half of any escrow or closing charges of the Title Company and title exam fees, (b) the basic premium for the Title Policy in the amount of the Purchase Price (c) all costs (including recording costs) to payoff and release any Monetary Encumbrance, and (d) any brokerage fees associated with this transaction that are owed by the Seller.

• Nothing in this clause (b) shall require the Seller, despite any election by the Seller to attempt to discharge any title exceptions, to take or bring any action or proceeding or any other steps to remove any title exception or to expend any moneys therefor, other than with respect to the Post Effective Date Seller Encumbrance, the Post Effective Date Monetary Encumbrance, Financing Liens and Tax Liens.

• The Partnership may cure Monetary Encumbrances by either of the following methods: (i) payment and release of such Monetary Encumbrance of record or (ii) posting a bond which causes such Monetary Encumbrance to cease to be a Lien on the Property.

• In order to cure any title defects other than a Monetary Encumbrance, the Partnership shall have the option to extend the Closing Date for a period of thirty (30) days, by giving written notice of such extension election to Buyer on or prior to the Closing Date.

More Definitions of Monetary Encumbrance

Monetary Encumbrance means an Encumbrance, which secures any obligation to pay a sum of money, whether or not definite in amount, including, without limitation, any Encumbrance affecting a parcel of real property that secures (i) an outstanding obligation of any of the Companies under any mortgage, deed of trust or other lien encumbering title to such parcel of real property, (ii) any judgment entered against any of the Companies, (iii) any delinquent tax obligation, (iv) any mechanics' or materialmen's liens or (v) similar obligations of any of the Companies.

Monetary Encumbrance as defined in Subsection 7.2.1(i)

Monetary Encumbrance means (a) any mortgage, deed to secure debt, deed of trust, assignment of leases and rents, negative pledge, financing statement or similar security instrument encumbering all or any part of the Property other than the Other First Loan, the TZO Loan Documents, TTF Loan Documents, ESDI Loan Documents and the MetLife Loan Documents and (b) the lien of ad valorem real or personal property taxes, assessments and governmental charges affecting all or any portion of the Property which are delinquent; (c) any mechanics or materialmen’s liens created by, through or under Seller, the Company or any of the LLCs (but not in connection with Buyer’s inspection or tenant work for which tenants are responsible under their Leases) and (d) any lis pendens or judgment of record against Seller, the Company or the LLCs, in the county or other applicable jurisdiction in which the applicable Property is located.

Monetary Encumbrance means an encumbrance to title that is a mortgage, deed of trust, security agreement or financing statement and does not arise out of the acts or omissions of Buyer.

Monetary Encumbrance has the meaning ascribed to such term in Section 6(a) hereof.

Monetary Encumbrance means an encumbrance to title that is timely raised by Purchaser as a objection in accordance with Section 4.1(a) and/or which arise from and after the expiration of the Objection Period, in either case, which is (a) a mortgage, deed of trust, security agreement or financing statement caused or created by Seller (except to the extent being assigned to Purchaser’s mortgage lender(s) at Closing pursuant to Section 4.1(d)) or (b) a judgment or a mechanic’s, materialman’s or broker’s lien caused by Seller which is intentionally created, consented to or affirmatively permitted by Seller, Operating Tenant or their respective affiliate (and not by Restaurant Tenant, Purchaser or any other Person) which, together with any other judgment, mechanic’s materialman’s or broker’s lien caused by Seller (and not by Restaurant Tenant or any other Person) does not exceed Two Million Five Hundred Thousand and No/100 Dollars ($2,500,000.00) in the aggregate. Notwithstanding the foregoing, a Violation shall not be considered a Monetary Encumbrance.

Monetary Encumbrance means each of the following: (i) an encumbrance to title of the Property or any portion thereof that is a mortgage, deed of trust, security agreement, financing statement or other lien or encumbrance which secure a debt caused or created by Owner or its Affiliates; (ii) a judgment lien, mechanics’ or material men’s lien or other monetary lien that is filed against the Property or any portion thereof which may be cured or removed by the payment of money; and (iii) any municipal code violation (which violation results in a monetary fine) against Seller, a Subsidiary, the Property or any portion thereof which, in each case, may be cured by the payment of a quantifiable sum of money to the applicable Governmental Authority.