Parties in Possession definition

Parties in Possession means any Person that possesses, occupies, or controls, whether directly or indirectly, any portion of the Property including, without limitation, the Transferred Property.
Sample 1

Examples of Parties in Possession in a sentence

  • Schedule 4.01(k) Location of Inventory and Farm Products; Third Parties in Possession; Crops Schedule 4.01(l) Office Locations; Fictitious Names; Etc.

  • Location of Equipment, Fixtures, and Inventory; Third Parties in Possession.

  • Schedule 4.01(1) Location of Inventory and Farm Products; Third Parties in Possession; Crops Schedule 4.01(m) Office Locations; Fictitious Names, etc.

  • Section 3.1 Location of Equipment, Fixtures and Inventory; Third Parties in Possession.

  • Some title companies are deleting the survey exception as a matter of course in mortgage policies, at least up to a certain insured amount.-­‐ Parties in Possession.

  • Peel a/k/a Steven Peel; Unknown Parties in Possession #1,UNCLAIMED.*Pursuant to Fla.

  • At Closing, Seller shall provide Title Insurer with an Affidavit as to Debts, Liens, Parties in Possession and GAP Coverage in the from of Exhibit "M" attached hereto and incorporated herein.

  • As used herein and in Owner and Mortgagee Policies, the term "Rights of Parties in Possession" shall mean one or more persons who are themselves actually physically occupying the property or a portion thereof under a claim of right adverse to the record owner of the property as shown in Schedule A of the policy.

  • In no event shall the term "Rights of Parties in Possession" include any right, claim or interest which is evidenced by a document recorded in the county where all or part of the property is located.The exception may be inserted in the policy if the insured executes a written waiver of inspection.

  • Standard Exception 1 (Parties in Possession) excludes coverage for certain claims of tenants, squatters or other persons who may claim possession of the property.

Related to Parties in Possession

  • Debtors in Possession means the Debtors in their capacity as debtors in possession in the Chapter 11 Cases pursuant to sections 1101, 1107(a), and 1108 of the Bankruptcy Code.

  • Debtor in Possession means any Debtor, in its capacity as a debtor in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • Other Priority Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Prepetition means arising or accruing prior to the Petition Date.

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Torture means the intentional infliction of severe pain or suffering, whether physical or mental, upon a person in the custody or under the control of the accused; except that torture shall not include pain or suffering arising only from, inherent in or incidental to, lawful sanctions;

  • Work in Process means a Deliverable that has been partially prepared, but has not been presented to the State for Approval.

  • Collateral means all of the “Collateral” referred to in the Collateral Documents and all of the other property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties.

  • Additional Agent means any one or more agents, trustees or other representatives for or of any one or more Additional Credit Facility Creditors, and shall include any successor thereto, as well as any Person designated as an “Agent” under any Additional Credit Facility.

  • Other Priority Claim means any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Collateral Trust Agreement means that certain Collateral Trust Agreement, dated as of the Closing Date, by and among Collateral Trustee and Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Debtor Laws means all applicable liquidation, conservatorship, bankruptcy, moratorium, arrangement, receivership, insolvency, reorganization, or similar laws, or general equitable principles from time to time in effect affecting the rights of creditors generally.

  • Agent’s Information means, solely, the following information in the Prospectus: the third sentence of the eighth paragraph and the tenth paragraph under the caption “Plan of Distribution” in the Prospectus. This indemnity agreement will be in addition to any liability that the Company might otherwise have.

  • Delegated Identity Theft Prevention Duties means the written identity theft prevention duties that the Trust has delegated to the Transfer Agent to satisfy applicable regulatory requirements relating to identity theft prevention.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

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

  • Gestational age or "gestation" means the age of an unborn child as calculated from the first day of the last menstrual period of a pregnant woman;

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Released Property shall have the meaning set forth in Section 2.9 hereof.

  • Secured Promissory Note Record is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender and credits made thereto.

  • Agent’s Liens means the Liens granted by each Loan Party or its Subsidiaries to Agent under the Loan Documents and securing the Obligations.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Purchase Agreement Collateral has the meaning specified in Section 6.9 of this Agreement.

  • Extra Services means those services set forth in Schedule “B” that are requested by the Municipality for itself or on behalf of its citizens and provided by the Company in accordance with paragraph 7 of this Agreement;

  • UK Bail-in Powers means the powers under the UK Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or affiliate of a bank or investment firm, to cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability.