Prior Charge definition

Prior Charge means any Security Interest over any Charged Asset ranking pari passu with or in priority to the Trustee’s Security.
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Prior Charge means a charge registered against title to the Land in priority to the Mortgage,[ including but not limited to the First Mortgage and the Second Mortgage];
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Prior Charge means any mortgage, lien, agreement for sale, encumbrance, interest in land or other charge or claim upon or with respect to the Lands which has or may have or which may acquire priority to this Mortgage.
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Examples of Prior Charge in a sentence

  • For the purposes of tendering any arrears or other sums payable to a holder of a Prior Charge, the Mortgagor hereby irrevocably appoints the Mortgagee its agent and irrevocably directs the Mortgagee to tender such monies upon the holder of a Prior Charge in the name of and on behalf of the Mortgagor.

  • It is the intention of the parties that the Mortgagee will have the same rights and powers, but not the liabilities, as the Mortgagor under and pursuant to the terms of the Prior Charge so that the Mortgagee will be in a position to take whatever steps are necessary to bring the Prior Charge into good standing once default has occurred thereunder.

  • The Mortgagee will be entitled to pay any arrears or other sums payable under the Prior Charge, or to pay off all or any portion of the amount thereby secured.

  • The Mortgagee will be entitled to pay any arrears or other sums payable under the Prior Charge, or to pay off all or any portion of the amounts thereby secured.

  • This assignment is not intended to encompass the Mortgagor’s entire interest in the Prior Charge, but only to the extent above stipulated.

  • As evidence of its agreement to be bound by the terms of this instrument, the Prior Charge Holder has executed the Land Title Act Form C or D which is attached hereto and forms part of this Agreement.

  • The Mortgagee will be entitled but not obligated to pay any arrears or other sums payable under the Prior Charge, or to pay off all or any portion of the amount thereby secured.

  • This assignment is not intended to encompass the Mortgagor's entire interest in the Prior Charge, but only to the extent hereinbefore stipulated.

  • In this regard the Mortgagor hereby assigns to the Mortgagee its equity of redemption, if any, with respect to the Prior Charge, together with the statutory right of redemption given to the Mortgagor by the provisions of Section 38 of the Law of Property Act, RSA 2000, c.L-7, as in force and amended from time to time.

  • While the facts in the cases of Dr X and Dr Y were not before us, the facts on which the Respondent was sentenced for the Prior Charge were, and we observed that the sentence imposed by the DC there was unduly lenient.


More Definitions of Prior Charge

Prior Charge means a Prior Charge as defined in clause 3.6;
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Related to Prior Charge

  • Adviser Charge : means the fee agreed with your financial adviser in remuneration for the personal recommendation received prior to submission of an Application Form.

  • Service Charge means the amount charged for making a service available on line and is in addition to the actual fee for a service itself. For example, one who renews a license on line will pay the license renewal fee and a service charge.

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • Cancellation Charge has the meaning given to that term in paragraph 5.1 of Part 2; "Core Operational Period" in relation to any part of the Network, means the period of the day when that part is generally open to train movements;