Monetary Encumbrances has the meaning set forth in Section 4.1.4.

Monetary Encumbrances means all mortgages, deeds of trust, mechanics’ liens, security interests, security instruments encumbering any Location, judgments and other monetary liens and encumbrances affecting title to or ownership of any Location, including, without limitation, liens for delinquent real estate taxes and assessments, but excluding, however, liens for taxes and assessments on any Location not yet due and payable.

Monetary Encumbrances means monetary Encumbrances, including, without limitation, all deeds of trust, mortgages or other monetary encumbrances of record as they relate to the Company or the Company Subsidiary (other than Taxes and assessments and the Encumbrances created or suffered by Buyer pursuant to such Taxes or assessments not yet due or payable) which are unpaid and liquidated. For purposes of the definition of “Monetary Encumbrances,” an Encumbrance is “liquidated” only if it is fixed either by agreement of Seller and the party asserting the Encumbrance or by operation of Law.

Examples of Monetary Encumbrances in a sentence

Any Existing Title Exceptions to which the Purchaser does not object within the 30-day period provided herein (other than Monetary Encumbrances) shall become Permitted Title Exceptions at the end of such 30-day period.
In addition, Seller shall have the obligation to cure any Monetary Encumbrances on or prior to the Closing Date.
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.
If the Partnership fails to cure Monetary Encumbrances or title defects created by the Partnership in favor of the Partnership or its Affiliates that it is obligated to cure in accordance with Section 12.2, such failure shall be a default by the Partnership.
Nothing in this subsection shall require Seller, despite any election by 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 Pre-Effective Date Seller Encumbrances, Post Effective Date Monetary Encumbrances and Post Effective Date Seller Encumbrances (as hereinafter defined) pursuant to Section 8.3 of this Agreement.

More Definitions of Monetary Encumbrances

Monetary Encumbrances has the meaning ascribed to it in Section 5(d).

Monetary Encumbrances means all (a) deeds of trust or mortgages, assignments of leases, negative pledges, pledge agreements, financing statements, and other similar financing items encumbering the Property or the outstanding equity interests of any of the Companies, (b) judgment liens against any Company or any of their respective Affiliates which encumber all or any portion of the Property, and (c) any mechanics or similar liens encumbering the Property, excluding those mechanics or similar liens filed in connection with capital projects which are still in progress.

Monetary Encumbrances as defined in Section 4.3.4(a).

Monetary Encumbrances means mortgages, deeds of trust, and other encumbrances securing an obligation to pay money; provided, however, that Monetary Encumbrances shall not include property taxes (other than special assessments) for the year in which Closing occurs and prorated common area maintenance charges, if any, which are not yet due and payable. Seller and Buyer agree that property taxes (other than special assessments) for the year in which the Closing occurs, which are not yet due and payable shall be prorated. At least five (5) days prior to the Closing Date, Seller shall provide to Closing Agent a payoff letter from each lender holding a debt secured by a lien or other security interest in the Property.

Monetary Encumbrances. This term shall have the meaning ascribed to it in Section 7.03 below.

Monetary Encumbrances means mortgages, deeds of trust, and other encumbrances securing an obligation to pay money that were voluntarily created by Sellers; provided, however, that Monetary Encumbrances shall not include property taxes or assessments for the year in which the Closing occurs and common area maintenance charges, if any, which are not yet due and payable. Sellers and Purchaser agree that property taxes and assessments for the year in which the Closing occurs and common area maintenance charges, if any, which are not yet due and payable shall be prorated in accordance with the provisions of 11.E below. Sellers shall use good faith efforts to provide Purchaser with a “pay-off” letter from each lender holding a debt secured by a lien or other security interest in a Property within ten (10) days of the Effective Date.