Owner Encumbrances definition

Owner Encumbrances means any liens, security interests or encumbrances against any part of the Mortgaged Property or the Trust Estate that result from acts of, or any failure to act by, or as a result of claims (including any taxes) against, CNB, the Owner Trustee or the Owner Participant arising out of any event or condition unrelated to (x) the ownership of the Vessel, (y) the administration of the Trust Estate or (z) the transactions contemplated by the Operative Documents, excluding liens, security interests and encumbrances arising from any tax for which the Charterer is obligated to indemnify under the Tax Indemnification Agreement or the Participation Agreement, other than any such tax for which the Charterer has already made full indemnification pursuant to such agreements.
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Owner Encumbrances means any liens, security interests or encumbrances resulting from voluntary action by Lessor Group, as hereinafter defined, taken without the prior written approval of Charterer and not taken as the result of an Event of Default by Charterer.
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Owner Encumbrances means any liens, security interests or encumbrances resulting from voluntary action by Lessor Group, as hereinafter defined, taken without the prior written approval of Charterer and not taken as the result of an Event of Default by Charterer. 13.2 Charterer agrees that if a libel or a complaint in admiralty (for purposes of this Article 13.2 called a "claim") shall be filed against the FPSO, or if the FPSO shall be otherwise levied upon or taken into custody or detained or sequestered by virtue of proceedings in any court or tribunal or by any government or other authority because of any claim (excluding a claim against Lessor), Charterer shall at its own expense within 15 days thereafter cause the FPSO to be released and each such 9
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Examples of Owner Encumbrances in a sentence

  • Notwithstanding the provisions of the foregoing paragraph (b), the Owner Trustee represents and warrants that on the Closing Date it will have whatever title to the Vessel as has been conveyed to it on such date by the Seller, subject to no Owner Encumbrances.

  • Any sale pursuant to this Section 12 shall be free and clear of the Charterer’s rights to the Vessel and any Owner Encumbrances but otherwise shall be made without any representation, recourse or warranty whatsoever on the part of the Owner Trustee except that the Owner Trustee shall warrant to the purchaser that the Vessel is free and clear of all Owner Encumbrances.

  • Upon such payment, the Owner Trustee shall deliver the Vessel to the Charterer, free and clear of all Owner Encumbrances and shall execute and deliver, all at the expense of the Charterer, such documents as shall be reasonably necessary or appropriate to consummate such sale and to document the Vessel in the name of the Charterer under the laws of the Applicable Country (including, without limitation, any necessary redocumentation of the Vessel).

  • Upon execution and delivery to Buyer of the Sale Documents at the Closing, (x) Seller will convey good and valid title to such Seller’s OP Interest to Buyer, and (y) each Vessel will be free and clear of all Owner Encumbrances arising out of actions or inactions of either Seller as Owner Participant.

  • Furthermore, Lessor shall indemnify, hold harmless and defend Charterer against any loss which Charterer may sustain by reason of, any Owner Encumbrances and/or Permitted Encumbrances (other than those set forth in Articles 13.1.(d)(i) and 13.1.(d)(ii) hereof).


More Definitions of Owner Encumbrances

Owner Encumbrances means any liens, security interests or encumbrances resulting from voluntary or involuntary action by Lessor Group taken without the prior written approval of Charterer and not taken as the result of an Event of Default by Charterer. 13.2. Charterer agrees that if a libel or a complaint in admiralty (for purposes of this Article 13.2. called a "claim") shall be filed against the FSO, or if the FSO shall be otherwise levied upon or taken into custody or detained or sequestered by virtue of proceedings in any court or tribunal or by any government or other authority because of any claim (excluding a claim arising by the action or inaction of Lessor, the Lessor Group or any of their affiliates), Charterer shall at its own expense within 15 days thereafter cause the FSO to be released and each such claim to be discharged (except to the extent that the same shall be contested by Charterer in good faith by appropriate proceedings and there exists at the time no Charterer Event of Default). Charterer agrees forthwith to notify Lessor by telegram or facsimile, confirmed by letter, of each such claim involving amounts in excess of US $500,000 and of the release and discharge of each such claim. Charterer agrees to advise in writing at least once in each three-month period as to the status and merits of all such claims not released and discharged within 15 days as provided above, which either are not bonded or affect the ability of Charterer to use the FSO in the ordinary course of its business. Charterer agrees to indemnify, hold harmless and defend Lessor against any loss which Lessor may sustain by reason of any liens, security interests or encumbrances resulting from voluntary action by Charterer Group taken without the prior written approval of Lessor and not taken as the result of an Event of Default by Lessor. 14.
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Related to Owner Encumbrances

  • 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.

  • 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.

  • Liens means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Permitted Liens means, with respect to any Person:

  • Seller Liens shall have the meaning set forth in Section 4.3.

  • Lessor Liens means any Lien or disposition of title or interest arising as a result of (i) claims against Lessor, First Security Bank, National Association, in its individual capacity, or the Owner Participant not related to the transactions contemplated by the Operative Documents, (ii) any act or omission of the Owner Participant, Lessor, or First Security Bank, National Association, in its individual capacity, which is not related to the transactions contemplated by the Operative Documents or is in violation of any of the terms of the Operative Documents, (iii) claims against the Owner Participant, Lessor, or First Security Bank, National Association, in its individual capacity, with respect to Taxes or Expenses against which Lessee is not required to indemnify the Owner Participant, Lessor or First Security Bank, National Association, in its individual capacity, pursuant to Section 7 of the Participation Agreement or (iv) claims against Lessor or the Owner Participant arising out of any transfer by Lessor or the Owner Participant of all or any portion of the respective interests of Lessor or the Owner Participant in the Aircraft, the Trust Estate or the Operative Documents other than the transfer of possession of the Aircraft by Lessor pursuant to this Agreement, the transfer pursuant to the Trust Indenture or a transfer of the Aircraft pursuant to Section 9, 10 or 19 hereof or pursuant to the exercise of the remedies set forth in Section 15 hereof, provided, however, that any Lien which is attributable solely to First Security Bank, National Association or the Owner Participant and would otherwise constitute a Lessor Lien hereunder shall not constitute a Lessor Lien hereunder so long as (1) the existence of such Lien poses no material risk of the sale, forfeiture or loss of the Aircraft, (2) the existence of such Lien does not interfere in any way with the use, possession, operation, or quiet enjoyment of the Aircraft by Lessee (or any Sublessee), (3) the existence of such Lien does not affect the priority or perfection of, or otherwise jeopardize, the Lien of the Trust Indenture, (4) First Security Bank, National Association or the Owner Participant, as appropriate, is diligently contesting such Lien and (5) the existence of such Lien does not pose a material threat of interference with the payment of Rent (other than Excluded Payments in favor of First Security Bank, National Association or the Owner Participant, as appropriate).

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Landlord Liens means liens on or against the Leased Property or any payment of Rent (a) which result from any act of, or any claim against, Landlord or any owner (other than Tenant) of a direct or indirect interest in the Leased Property, or which result from any violation by Landlord of any terms of this Agreement or the Purchase Agreement, or (b) which result from liens in favor of any taxing authority by reason of any tax owed by Landlord or any fee owner of a direct or indirect interest in the Leased Property; provided, however, that "Landlord Lien" shall not include any lien resulting from any tax for which Tenant is obligated to pay or indemnify Landlord against until such time as Tenant shall have already paid to or on behalf of Landlord the tax or the required indemnity with respect to the same.

  • Leasehold Interests means all of each Borrower’s right, title and interest in and to, and as lessee, of the premises identified on Schedule 4.19(A) hereto.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Prior Liens means Liens which, pursuant to the provisions of any Security Document, are or may be superior to the Lien of such Security Document.

  • Environmental Liens shall have the meaning set forth in Section 12.5 hereof.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Leased Properties has the meaning set forth in Section 3.1(n)(ii).

  • Real Property Documents means any material contract or agreement constituting or creating an estate or interest in any portion of the Site, including, without limitation, the Lease Agreements and the Subleases.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Customary Permitted Liens means, with respect to any Person, any of the following Liens:

  • Company Permitted Liens means (i) mechanics’, materialmen’s, carriers’, workmen’s, repairmen’s, vendors’, operators’ or other like Liens, if any, arising in the ordinary course of business of the Company; (ii) Liens arising under original purchase price conditional sales contracts and equipment leases with third parties entered into in the ordinary course of business; (iii) title defects or Liens (other than those constituting Liens for the payment of Indebtedness), if any, that do not or would not, individually or in the aggregate, impair in any material respect the use or occupancy of the assets of the Company and its Subsidiaries, taken as a whole; (iv) Liens for Taxes that are not yet due or payable or that may thereafter be paid without penalty being contested in good faith and for which adequate accruals or reserves have been established in accordance with GAAP; (v) Liens supporting surety bonds, performance bonds and similar obligations issued in the ordinary course of business of the Company and its Subsidiaries; (vi) Liens not created by the Company or its Subsidiaries that affect the underlying fee interest of a Company Leased Real Property; (vii) Liens that are disclosed on the most recent consolidated balance sheet of the Company included in the Company Filed SEC Documents or notes thereto or securing liabilities reflected on such balance sheet; (viii) Liens arising under or pursuant to the organizational documents of the Company or any of its Subsidiaries; (ix) grants to others of Rights-of-Way, surface leases or crossing rights and amendments, modifications, and releases of Rights-of-Way, surface leases or crossing rights in the ordinary course of business; (x) with respect to Rights-of-Way, restrictions on the exercise of any of the rights under a granting instrument that are set forth therein or in another executed agreement, that is of public record or to which the Company or any of its Subsidiaries otherwise has access, between the parties thereto; (xi) Liens which an accurate up-to-date survey would show; (xii) Liens resulting from any facts or circumstances relating to Parent or any of its Affiliates; and (xiii) Liens that do not and would not reasonably be expected to materially impair the continued use of a Company Owned Real Property or a Company Leased Real Property as presently operated.

  • Excepted Liens means: (i) Liens for taxes, assessments or other governmental charges or levies not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (ii) Liens in connection with workmen's compensation, unemployment insurance or other social security, old age pension or public liability obligations not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (iii) operators', vendors', carriers', warehousemen's, repairmen's, mechanics', workmen's, materialmen's, construction or other like Liens arising by operation of law in the ordinary course of business or incident to the exploration, development, operation and maintenance of Oil and Gas Properties or customary landlord's liens, each of which is in respect of obligations that have not been outstanding more than 90 days or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been maintained in accordance with GAAP; (iv) any Liens reserved in leases or farmout agreements for rent or royalties and for compliance with the terms of the farmout agreements or leases in the case of leasehold estates, to the extent that any such Lien referred to in this clause does not materially impair the use of the property covered by such Lien for the purposes for which such property is held or materially impair the value of such property subject thereto; (v) encumbrances (other than to secure the payment of borrowed money or the deferred purchase price of property or services), easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any rights of way or other property for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal or other minerals or timber, and other like purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, and defects, irregularities, zoning restrictions and deficiencies in title of any rights of way or other property which in the aggregate do not materially impair the use of such rights of way or other property for the purposes of which such rights of way and other property are held or materially impair the value of such property subject thereto; (vi) deposits of cash or securities to secure the performance of bids, trade contracts, leases, statutory obligations and other obligations of a like nature incurred in the ordinary course of business; and (vii) Liens (including "Excepted Liens") permitted by or created pursuant to the Senior Credit Agreement and Liens permitted by or created pursuant to the Subordinated Credit Agreement.

  • Owned Properties has the meaning set forth in Section 3.16.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in Administrative Agent's reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrancers of the affected real property.

  • Purchase Money Liens means Liens securing purchase money Indebtedness incurred in connection with the acquisition of capital assets by Borrower or any Subsidiary in the ordinary course of business, provided that such Liens do not extend to or cover assets or properties other than those purchased in connection with the purchase in which such Indebtedness was incurred and that the obligation secured by any such Lien so created shall not exceed one hundred percent (100%) of the cost of the property covered thereby.