“Encumbrance” means any mortgage, pledge, lien, claim, encumbrance, charge or other security interest, option, defect or other right of any third Person of any nature

Section # Due on Sale and Encumbrance.

permit, or agree, commit or offer (in writing or otherwise) to permit, any interest in the Purchased Assets or the Business to become subject, directly or indirectly, to any Encumbrance (other than a Permitted Encumbrance);

Encumbrance and Encumber have the meanings provided in clause 12.1.

property interest, option, equitable interest, restriction of any kind (including any restriction on use, voting, transfer, receipt of income, or exercise of any other ownership attribute), or other encumbrance (each, an “Encumbrance”), other than those imposed by law, for the consideration specified in [Section 1.2].

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge.

the Payee or relevant member of the Target Group to whom an Affiliated/Strategic Asset has been transferred shall be entitled to pledge, grant an Encumbrance over the Affiliated/Strategic Asset or this Note, including in respect of Funds at Lloyds (FAL), provided however that: # such Encumbrance will be released prior to the transfer of the Affiliated/Strategic Assets to a Promisor Managed Acquiror as contemplated by Clause 5; and # the nature of any such Encumbrance will be substantially consistent with the nature of Encumbrances granted and debt incurred by members of the Target Group in past practice; and

“Security Interest” means any mortgage, pledge, lien, encumbrance, charge, or other security interest of any nature whatsoever.

The Seller shall not create any additional Encumbrance over the shares subject to being transferred under this Agreement

“Burdensome Restrictions” means any consensual encumbrance or restriction of the type described in [Section 6.10] or [Section 6.11].