New Encumbrance definition

New Encumbrance means the new security to be granted in favour of [name of new lender] incidental to the drawdown of the New Loan upon Completion.
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New Encumbrance has the meaning set forth in Section 4.1.3.
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New Encumbrance shall have the meaning given to such term in Section 5.1(g) hereof.
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Examples of New Encumbrance in a sentence

  • If Purchaser does not timely object to it, such New Encumbrance shall be a Permitted Exception.

  • Any such New Encumbrance not approved or disapproved within such ten (10) Business Day period shall be deemed a Permitted Real Property Encumbrance for purposes of this Agreement.

  • Any New Encumbrance must be either approved or disapproved by Buyer within ten (10) Business Days of Buyer’s receipt of written notice of such New Encumbrance.

  • If Buyer disapproves any New Encumbrance (“Objectionable Encumbrance”) within such ten (10) Business Day period, Seller may elect (but shall not be obligated) to remove or cause to be removed, at its sole cost and expense, any Objectionable Encumbrances (other than the Removable Objections, which Seller shall in all cases be obligated to remove as exceptions to title) before any exercise by Buyer of any of the Real Property Purchase Options pursuant to the Lease.

  • The Seller represents and warrants to each of APG and the Buyer that it has and will at Completion have the right to sell and transfer full legal and beneficial title and ownership to and of the Sale Share (together with the benefit of the Shareholder Loan) free from all Encumbrances upon Completion (save for the New Encumbrance) and any other rights exercisable by third parties.

  • If Purchaser timely objects to such New Encumbrance, such Seller shall give notice to Purchaser, within five (5) Business Days of Purchaser’s objection notice, as to whether such Seller agrees to Cure such New Encumbrance.

  • If Purchaser does not terminate this Agreement by written notice to Seller within such five (5) day period, then Purchaser shall be deemed to have elected to proceed with Closing, Purchaser shall not have any right to terminate this Agreement on account of such New Encumbrance, and such New Encumbrance shall be a Permitted Exception.

  • If either a Seller or Purchaser becomes aware that an Encumbrance has arisen after the Effective Date, or if an update of title with respect to a Property after the Effective Date reveals an Encumbrance prior to the Effective Date but not previously disclosed in a Title Commitment (in either case, a “New Encumbrance”), Purchaser or such Seller, as applicable, shall promptly give notice to the other of such New Encumbrance.

  • If a Seller elects in writing to attempt to Cure a New Encumbrance to which Purchaser timely objects pursuant to this Section 4.1.3, such Seller shall use commercially reasonable efforts to Cure such New Encumbrance at or before Closing (provided however, the Closing may be extended for such reasonable time as may be necessary to Cure such New Encumbrance, not to exceed an additional sixty (60) days), and such New Encumbrance shall not be a Permitted Exception.

  • If after the Effective Date either a Seller or Purchaser first becomes aware of an Encumbrance (other than a Seller-Created Encumbrance) that was not disclosed by any of the Title Commitments or revisions thereof prior to the Effective Date (a “New Encumbrance”), Purchaser or such Seller, as applicable, shall promptly give notice to the other of such New Encumbrance.


More Definitions of New Encumbrance

New Encumbrance means the security granted or to be granted in favour of The Hongkong and Shanghai Banking Corporation Limited incidental to the New Loan at Completion.
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New Encumbrance means the new security to be granted in favour of Hang Seng Bank Limited incidental to the drawdown of the New Loan upon Completion.
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New Encumbrance. As set forth in Section 4.6 hereof.
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Related to New Encumbrance

  • Blanket encumbrance means a trust deed or mortgage or any other lien or encumbrance,

  • Permitted Encumbrance means, with respect to any Mortgaged Property, such exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

  • Permitted Encumbrances means:

  • Permitted Real Property Encumbrances means (i) those liens, encumbrances and other matters affecting title to any Mortgaged Property listed in the applicable title policy in respect thereof (or any update thereto) and found, on the date of delivery of such title policy to the Administrative Agent in accordance with the terms hereof, reasonably acceptable by the Administrative Agent, (ii) as to any particular real property at any time, such easements, encroachments, covenants, restrictions, rights of way, minor defects, irregularities or encumbrances on title which do not, in the reasonable opinion of the Administrative Agent, materially impair such real property for the purpose for which it is held by the mortgagor or owner, as the case may be, thereof, or the Lien held by the Administrative Agent, (iii) municipal and zoning laws, regulations, codes and ordinances, which are not violated in any material respect by the existing improvements and the present use made by the mortgagor or owner, as the case may be, of such real property, (iv) general real estate taxes and assessments not yet delinquent, and (v) such other items as the Administrative Agent may consent to.

  • Encumbrances means any mortgages, pledges, liens, security interests, conditional and installment sale agreements, activity and use limitations, conservation easements, deed restrictions, encumbrances and charges of any kind.