Owner Lien definition

Owner Lien means a Lien (i) which results from acts of, or any failure ---------- to act by, or as a result of claims against, the Owner, (ii) in favor of any taxing authority by reason of the non-payment by the Owner, or (iii) which results from acts of, or any failure to act by, the Owner in violation of its obligations under the Agreement.
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Owner Lien means with respect to the Vessel, any Lien or disposition of title arising as a result of:
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Owner Lien. Any Lien or disposition of title (a) arising as a result of any willful act or knowing omission of Owner, or (b) which is otherwise claimed by or through Owner and which is not related to the Project constructed hereunder or the business of Agent, and which, in either case, is not permitted or contemplated by this Agreement, the Lease, any Financing Arrangement, the Construction Documents, the Project Contracts or the transactions contemplated thereby. PCBs: Defined pursuant to paragraph (l) of subsection 8.27 hereof. Permits: All consents, licenses, building and operating permits or other Governmental Actions required for ownership, leasing, construction, completion, and operation of the Project in accordance with and as contemplated by the Construction Documents, the Project Contracts, this Agreement and the Lease. Permitted Contest: Defined pursuant to paragraph (a) of Section 16 hereof.
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Examples of Owner Lien in a sentence

  • If any Lien Claim shall have resulted from Manager Malfeasance and shall have been paid by the Issuer, whether directly or by payment of the Owner Lien Claim Amount to the Manager, then, in either case, the Manager shall promptly reimburse the Issuer, upon presentation of an invoice therefor.

  • City of Baytown's Lien: the legal claim against a property in the amount of the Homebuyers' Assistance Loan that must be paid to the City of Baytown in the pro-rated amount if the Homebuyer is no longer in compliance with the terms of the Owner Lien Agreement.

  • The Owner shall promptly, at its own expense, take such action as may be necessary to duly discharge (by bonding or otherwise) any Lien other than a Permitted Owner Lien arising at any time.

  • Gorgeous Nails Spa Salon LLC, Owner Lien B Luu #’s 31200698 & 51200554, Member Thai La, Member Offer a consent agreement to assess $750.00 civil penalty and Board costs, 12-months’ probation with early termination see motion above.

  • Without limiting the generality of this Section 4.2, the Manager shall be required to pay or discharge any Lien Claim (1) that results from an act or omission by the Manager with respect to which the Manager would not be entitled to indemnification pursuant to Section 16 hereof ("Manager Malfeasance") or (2) if prior to such payment or discharge, the Manager receives from the applicable Owner the amount thereof (the "Owner Lien Claim Amount").

  • The Independent Owner will not create, incur or suffer to exist any Owner Lien upon any of the Trust Estate.

  • If any Lien Claim shall have resulted from Manager Malfeasance and shall have been paid by the applicable Owner, whether directly or by Payment of the Owner Lien Claim Amount to the Manager, then, in either case, the Manager shall promptly reimburse such Owner, upon presentation of an invoice therefor.

  • Therefore, the Local Borrower represents and covenants as follows with respect to the Loan and the Authority Bonds.

  • City of Baytown's Lien: the legal claim against a property in the amount of the Homebuyers' Assistance Loan that must be paid to the City of Baytown in the pro-rated amount if the homebuyer is no longer in compliance with the terms of the Owner Lien Agreement.

  • Example #5 Joint Owners (Remaindermen), One Life Estate Owner, Lien An applicant owns ½ remainder interest (2 owners) in non-home, non-business real property; there is one life interest owner, age 80.


More Definitions of Owner Lien

Owner Lien has the meaning set forth in the Trust Indenture.
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Owner Lien means any Lien resulting solely from claims arising against, or from acts or omissions of, the Owner or those acting by, through, or under Owner (exclusive of Lessee, Guarantor, any Sublessee, Manager, Noteholder, Surety, Trustee and their respective Related Parties, and Persons acting by, through or under Lessee, Guarantor, any Sublessee, Manager, Surety, Trustee or their Related Parties) other than (i) Liens granted by Owner in accordance with the express terms and conditions of the Transaction Documents; (ii) Liens arising as a result of Lessee failing to perform its duties under the Lease Documents, the Participation Agreement or any other Transaction Document; and (iii) Permitted Liens.
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Owner Lien means any Lien on or with respect to the Additional Trust Estate which is not permitted by the terms of the Transaction Documents and which results from (i) nonpayment by Independent Owner or any shareholder of Independent Owner or any Affiliate of any of the foregoing (the "Owner Parties"), of any tax, assessment or like charge imposed on any Owner Party, other than any tax, assessment or like charge the payment of which is the obligation of Issuer or any Affiliate of Issuer under this Supplemental Indenture or any other Transaction Documents; (ii) claims against or acts and omissions of any Owner Party arising out of events or conditions that are not related to the transactions contemplated by the Transaction Documents or are in violation of any of the obligations of Independent Owner under any of the terms of the Transaction Documents; (iii) claims against any Owner Party arising out of any transfer (whether voluntary or involuntary) by such Owner Party of any portion of its interest in the Additional Trust Estate or its rights under the Transaction Documents that is neither permitted under the Transaction Documents nor consented to in writing by the Trustee; or (iv) any other act of, claim against or lien created by any Owner Party including, without limitation, any lien attaching by reason of the Independent Owner's participation in any Multiemployer Employee Benefit Plan, or any Person claiming by, through or under any Owner Party, that is neither permitted under the terms of the Transaction Documents nor consented to in writing by the Indenture Trustee.
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Owner Lien means with respect to the Vessel or any Parts or title to any thereof or any interest therein, any Lien or disposition of title arising as a result of: (i) any claims against, or any act or omission of, an Owner, the Representative Owner, the Registered Owner or the Owner Parent which in any such case is not related to or contemplated by any of the Operative Documents or any transactions contemplated thereby; (ii) any Taxes imposed upon an Owner, the Representative Owner, the Registered Owner or the Owner Parent, other than those in respect of which the relevant Owner, the Representative Owner, the Registered Owner or the Owner Parent, as applicable, is entitled to be indemnified against by the Charterer under this Agreement or under any of the other Operative Documents or which are taken into account in calculating any sums due under this Agreement; (iii) any act or omission of an Owner, the Representative Owner, the Registered Owner or the Owner Parent which constitutes the deliberate act of such Owner, the Representative Owner, the Registered Owner or the Owner Parent, as applicable, with intent to cause damage or in the knowledge that damage would probably result or wilful misconduct of or recklessness with knowledge of the probable consequences by, as applicable; (iv) any act or omission of an Owner, the Representative Owner, the Registered Owner or the Owner Parent which constitutes a breach by such person of any of the terms of any of the Operative Documents; (v) claims against an Owner, the Representative Owner, the Registered Owner or the Owner Parent arising out of any transfer or disposal, or any proposed transfer or disposal by the Owner Parent of any of its directors, as the case may be, indirect interests in an Owner, the Representative Owner or the Registered Owner (other than any such transfer as is permitted or contemplated by any of the Operative Documents or which is made in connection with the enforcement of any Operative Document, including, without limitation, as part of exercise of any remedies thereunder or which is made to avoid any losses and damages from any Event of Default), provided that (A) it is acknowledged for the purposes of this Agreement that a Lien created or caused by a party to the Operative Documents other than an Owner, the Representative Owner, the Registered Owner or the Owner Parent will not constitute an Owner Lien and (B) none of the events referred to above shall constitute an Owner Lien, if and to the extent...
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Owner Lien means a Lien (i) which results from acts of, or any failure to act by, or as a result of claims against, the Owner, (ii) in favor of any taxing authority by reason of the
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Owner Lien means any Lien created directly by the Developer or any Owner.
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Related to Owner Lien

  • Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

  • Lien means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Lessor Lien means, with respect to any person and in respect of any property (including, without limitation, the Trust Estate, the Trust Indenture Estate, the Aircraft, Airframe, Engines, Parts or Aircraft Documents) or any payments, any Lien on such property or payments which (a) arises from claims against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) not related to any of the transactions contemplated by the Operative Agreements, (b) results from acts or omissions of such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) in violation of such person's obligations under any of the terms of the Operative Agreements, or not related to the transactions contemplated by the Operative Agreements, (c) is imposed as a result of Taxes against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) or any of its Affiliates not required to be indemnified by Lessee under the Participation Agreement, or (d) claims against such person arising out of any transfer by such person of its interest in the Aircraft, the Trust Estate or the Operative Agreements, other than a Transfer permitted by the terms of the Operative Agreements or pursuant to the exercise of remedies set forth in Section 15 of the Lease.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • Permitted Lien means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien and (c) Liens incurred in connection with Permitted Indebtedness.

  • Subject Lien shall have the meaning provided in Section 10.2(a).

  • Prior Lien means a pre-existing mortgage, deed of trust or other Lien encumbering the Mortgaged Property.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • Secured means, when referring to a Claim, a Claim secured by a Lien on property in which the applicable Estate has an interest, which Lien is valid, perfected, and enforceable pursuant to applicable law or by a Final Order, or that is subject to setoff pursuant to section 553 of the Bankruptcy Code, to the extent of the value of the applicable creditor’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, in each case, as determined pursuant to section 506(a) of the Bankruptcy Code.

  • 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).

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Existing Lien shall have the meaning assigned to such term in Section 6.02(c).

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • UCC Filing Collateral means any Collateral, including Collateral constituting investment property, for which a security interest can be perfected by filing a UCC-1 financing statement.

  • Superior Lien With respect to any Mortgage Loan, any other mortgage loan relating to the corresponding Mortgaged Property which creates a lien on the Mortgaged Property which is senior to the Mortgage Loan.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • Permitted Prior Liens means Permitted Liens described in clauses (c), (f), (g), (h), (j), (k) (to the extent permitted under the Control Agreements relating to the deposit accounts subject to the Permitted Liens described in clause (k)) and (m) of the defined term “Permitted Liens” and as set forth in the Schedule.

  • Senior Liens means (a) with respect to the ABL Priority Collateral, all Liens securing the ABL Obligations and (b) with respect to the Term Loan Priority Collateral, all Liens securing the Term Loan Obligations.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.