paragraph] The lender was what is referred to as a "bona fide encumbrancer
for value," which meant that if the borrower's ability to repay had been overstated and/or if the transaction was tainted by outright fraud, the lender's interest in the property was still secure.
337 at 365-66 (Lord Phillips MR) (citing Professor Goode and endorsing the proposition that "[i]f [a floating charge] imposes restrictions on sales or subsequent encumbrances and the particular sale or charge, though in the ordinary course of business is in breach of such restrictions, the floating charge will, on crystallisation, retain its priority if the buyer or encumbrancer
took with notice of the restrictions, whether his interest is legal or equitable").
The Commission shall apply the proceeds derived from such sale in payment, in the first instance, of all monies due to the Commission in respect of such loan, and in redemption of any amount charged thereon in favor of the Commission, or so much thereof as remains unpaid, or in making any pro rate division to any other encumbrancer
if there be any agreement with the Commission to that effect, and in payment of all expenses incurred by the Commission in relation to such sale, and shall pay the balance (if any) to the persons entitled to receive the same.
takes possession of, or a trustee, receiver,
any principal or interest on any of the Loan Notes held by that Noteholder shall fail to be paid in full within 30 days after the due date for payment thereof; or -- an order is made or an effective resolution is passed for the winding up or dissolution of AMVESCAP (other than for the purposes of and followed by a reconstruction or an amalgamation of a members' voluntary winding up in each case on terms previously approved by extraordinary resolution of any holders of Loan Notes); or -- an encumbrancer
takes possession of, or a trustee, receiver, administrator or similar officer is appointed or an administration order is made in respect of, the whole or substantially the whole of the undertaking of AMVESCAP and such person has not been paid out or discharged within 30 days.
k) there having been no examiner, receiver or other encumbrancer
a) there having been no receiver, administrative receiver or other encumbrancer
appointed over any material portion of the assets of any member of the wider Flextech Group or the wider Telewest Group or any analogous proceedings or steps having taken place under the laws of any relevant jurisdiction and there having been no petition presented for the administration of any member of the wider Flextech Group or the wider Telewest Group or any equivalent proceedings or steps taken under the laws of any other jurisdictions;
The statute, like its common law | predecessor, allows a party claiming J an interest in real property to notify prospective purchasers or encumbrancers
of the property that it is the subject of litigation.
The title report will identify other parties-in-interest, such as mortgagees, lienors, and other encumbrancers