Voluntary Lien definition

Voluntary Lien means any mortgage or deed of trust granted or assumed by Seller and encumbering the Property or any portion thereof.

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Voluntary Lien means a Lien that is not an Involuntary Lien or a Tenant Lien.

Voluntary Lien means a Lien that arises after the effective date of the respective Title Commitment prepared for such Property and that is not an Involuntary Lien or a Tenant Lien.

Examples of Voluntary Lien in a sentence

• Upon tendering the Deposit and signing the Performance Agreement, the Owner shall also execute and deliver to the ARC a Notice of Voluntary Lien in the form attached hereto as EXHIBIT A.

• Seller shall not create or cause to be created any Voluntary Lien without Purchaser’s prior written consent, not to be unreasonably withheld, conditioned, or delayed prior to the expiration of the Inspection Period.

• Notwithstanding the foregoing or anything in this Agreement to the contrary, if and to the extent that any Voluntary Liens with respect the Canopy New Orleans exist after the Closing Date, Summit shall have the right to seek reimbursement from Investor, and Investor shall be obligated to pay, discharge or remove of record or cause to be paid, discharged or removed of record, at Investor's sole cost and expense, any such Voluntary Lien for a period of ninety (90) days following the Closing Date.

• If, at any time prior to the Closing Date, any Title Update discloses any Other Monetary Lien, Voluntary Lien, Tax Lien or Violation, Purchaser shall notify Sellers in writing of such Other Monetary Lien Voluntary Lien, Tax Lien or Violation, as applicable, not later than the date that is the earlier of (i) three (3) Business Days after the date of its receipt of such Title Update and (ii) the Closing Date.

• In the event any monetary liens (other than a mortgage lien or mechanic's or materialmen's lien or a Voluntary Lien) exist against the Property, which individually or in the aggregate are less than or equal to Three Hundred Fifty Thousand Dollars ($350,000.00), then Seller shall discharge such lien or liens prior to or at Closing, by payment or by posting a bond with the court having jurisdiction over such lien.

More Definitions of Voluntary Lien

Voluntary Lien means any mortgage, deed of trust or other consensual or non-consensual monetary lien encumbering the Property, as well as any consensual lien that results from a breach by any Seller of its obligations under this Agreement.

Voluntary Lien means any mortgage, deed of trust, mechanics lien or other similar monetary lien encumbering the Real Property caused or entered into by Seller and all tax liens which encumber the Real Property. Notwithstanding any terms to the contrary contained herein, for mechanics liens, Seller may be entitled to provide Purchaser with affirmative coverage over such matters in lieu of paying off such mechanics lien prior to or at Closing.

Voluntary Lien means a Lien that arises after the effective date of the Title Commitment prepared for the Property and that is not an Involuntary Lien or a Tenant Lien.

Voluntary Lien means (i) any mortgage or deed of trust granted or assumed by Seller and encumbering the Property, (ii) any other monetary lien or monetary encumbrance, including mortgages, judgments and federal, state and municipal tax liens, first appearing on record during Seller’s ownership of the Property created or caused by Seller or that Seller has suffered to exist (such as a tenant’s mechanics’ lien attached to the fee estate of the Property (rightfully or wrongfully) that Seller could have required such tenant to remove but failed to do so) and (iii) all non-monetary liens and encumbrances which Seller has allowed to be placed on the Property without Buyer’s written consent from and after the Effective Date. {W6394298.7} -2-

Voluntary Lien as used herein shall mean a lien or encumbrance affecting the Property and/or the Membership Interests that evidences or secures an outstanding obligation of Nine Penn Owner or Seller under (a) any mortgage, deed of trust, security agreement, financing statement, or any other instrument which secures any monetary obligation of Nine Penn Owner or Seller and which was granted to the beneficiary thereof by Seller or its affiliates to secure such obligation, (b) any mechanic’s, materialman’s or other similar liens, which can be fully and finally satisfied and discharged by the payment of a liquidated or pre-determined sum to the beneficiary thereof and that, in each event, is created by Seller or its affiliates, (iii) any lien for unpaid delinquent real estate taxes affecting the Property or Taxes of Nine Penn Owner (other than Taxes not yet due and payable), (iv) any lien securing an outstanding judgment against Seller or its affiliates, (v) any other monetary lien created by Seller or its affiliates that can be satisfied by the payment of a liquidated or pre-determined sum, and (vi) any encumbrance voluntarily created or voluntarily placed by Seller or its affiliates against the Property or the Membership Interests from and after the date of the Title Commitment, which is not approved by Purchaser. For greater certainty, all references to Seller’s affiliates under this Section 3.3 shall include Nine Penn Owner.

Voluntary Lien means any security agreement, pledge, assignment, hypothecation, charge or deposit arrangement, grant of mortgage, grant of deed of trust and any and all other Liens intentionally or voluntarily entered into or incurred by the Company or any of its Subsidiaries.

Voluntary Lien means (a) any mortgage or deed of trust granted or assumed by Seller and encumbering the Property or any portion thereof; (b) any mechanic’s or materialmen’s lien encumbering the Property or any portion thereof and arising by reason of any work at the Real Property performed before the Closing under a contract directly with Seller; and (c) any other lien encumbering the Property or any