Permissible Encumbrances definition

Permissible Encumbrances means as of any particular time any of the following:
View Source
Permissible Encumbrances means as of any particular time any of the following: (i) the Lien of this Indenture and all liens and encumbrances junior thereto;
View Source
Permissible Encumbrances. 13 "Person" 16 "Prior Lien" 16
View Source

Examples of Permissible Encumbrances in a sentence

  • MidAmerican does hereby acknowledge that Midwest Power has been merged with and into MidAmerican and that such merger was on such terms which fully preserve and in no respect impair the Lien or security of the Indenture, or any of the rights or powers of the Trustee or the Bondholders under the Indenture, or create any Prior Lien (other than Permissible Encumbrances) on the Mortgaged Property.

  • The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien on any assets other than the Mortgaged Property now owned or hereafter acquired by the Company or a Subsidiary of the Company, other than (i) Permissible Encumbrances (provided, however, that, for purposes of this Section 4.03 only.

  • The Mortgagor represents and warrants to the Mortgagee that (a) except for the Permissible Encumbrances (as defined in the Mortgage Bond Indenture) Mortgagor owns the Mortgaged Property free and clear of any liens and (b) this Mortgage creates valid, enforceable first priority liens and security interests (subject to Permissible Encumbrances) against the Mortgaged Property.

  • The Mortgagor shall preserve and protect the first lien and security interest status (subject to Prior Liens permitted by the Mortgage Bond Indenture and other Permissible Encumbrances) of this Mortgage to the extent related to the Mortgaged Property.


More Definitions of Permissible Encumbrances

Permissible Encumbrances means as of any particular time any of the following: (i) the Lien of this Indenture and all liens and encumbrances junior thereto; (ii) liens for taxes or assessments by governmental bodies not yet due or the payment of which is being contested in good faith by the Company, provided that the Company shall have set aside on its books reserves deemed by it to be adequate with respect to any such tax or assessment so being contested; (iii) any right of any municipal or other governmental body or agency, by virtue of any franchise, grant, license, contract or -Officers' Certificate" "Opinion of Counsel" "Outstanding1" "Permissible EncuHibrancesr
View Source
Permissible Encumbrances means at any particular time A.taxes, assessments or governmental charges not delinquent, B. taxes, assessments or governmental charges, already due, but the validity of which is being contested at the time by the Company in good faith, C. liens created by others than the Company on property with respect to which the Company owns easements, leases or rights-of-way for gas, steam or water mains, pipes, pipe lines or equipment or for electric transmission or distribution lines, or leases or other rights for natural gas production purposes, D. undetermined liens or charges incidental to construction, E. liens 1. of any judgments in an aggregate amount of not in excess of one per cent (1%) of the aggregate principal amount of the bonds outstanding hereunder at the time of the creation of such lien in personal injury, workers' compensation or death cases or for damages to property, or 2. in respect of judgments or awards with respect to which the Company shall in good faith concurrently be prosecuting an appeal or proceedings for review, or 3. of any judgment in respect of which moneys in the amount of 62 42 the judgment have been deposited with the Trustee to be withdrawn only as provided in Section 8.01 hereof, F. easements, rights-of-way, exceptions, reservations or restrictions, ,and agreements for the joint or common use of property, which do not materially impair the use of the affected property in the operation of the business of the Company, G. the right reserved to, or vested in, any municipality or public authority by the terms of any franchise, grant, license or permit, or by any provision of law, to terminate such franchise, grant, license or permit or to purchase or appropriate or recapture or to designate a purchaser of any of the mortgaged property, or to demand and collect from the Company any tax or other compensation for the use of streets, alleys or other public places, H. rights reserved to, or vested in, any municipality or public authority to use, control, remove or regulate any property of the Company, I. zoning laws and ordinances, J. possible adverse rights or interests and inconsequential defects or irregularities in title which, in the opinion of counsel, may be properly disregarded, K. any liens securing indebtedness, neither assumed nor guaranteed by the Company nor on which it customarily pays interest, existing upon real estate or rights in or relating to real estate acquired by the Company for right-of-way, lease or similar purpo...
View Source
Permissible Encumbrances shall have the meaning assigned to such term in the Indenture.
View Source
Permissible Encumbrances. (kk) “Permissible Encumbrances” means as of any particular time any of the following:
View Source

Related to Permissible Encumbrances

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

  • 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.