Common use of Addition; Replacements; Proceeds Clause in Contracts

Addition; Replacements; Proceeds. All additions, accessions, replacements, substitutions, proceeds and products of the property, tangible and intangible, described herein. AND, without limiting any of the other provisions of this Instrument, Borrower expressly grants to Lender, as secured party, a security interest in all of those portions of the Collateral that are or may be subject to the UCC provisions applicable to secured transactions; and TO HAVE AND TO HOLD the Collateral unto Trustee for the benefit of Lender. PROVIDED, HOWEVER, that nothing contained herein shall create an obligation on the part of Lender to make future advances or readvances to Borrower; and PROVIDED, FURTHER, that the total amount of the Secured Obligations and advances at any one time secured hereby shall in no event exceed $21,525,000, plus interest thereon and all charges and expenses of collection incurred by ▇▇▇▇▇▇, including court costs and attorneys' fees and expenses and advancements for taxes, insurance premiums, public assessments and repairs, if any; and FURTHER to secure the full, timely and proper payment and performance of the Secured Obligations, Borrower hereby covenants and agrees with and warrants to Trustee for the benefit of Lender as follows:

Appears in 1 contract

Sources: Commercial Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Ensign Group, Inc)

Addition; Replacements; Proceeds. All additions, accessions, replacements, substitutions, proceeds and products of the property, tangible and intangible, described herein. AND, without limiting any of the other provisions of this Instrument, Borrower expressly grants to Lender, as secured party, a security interest in all of those portions of the Collateral that are or may be subject to the UCC provisions applicable to secured transactions; and TO HAVE AND TO HOLD the Collateral unto Trustee for the benefit of Lender. PROVIDED, HOWEVER, that nothing contained herein shall create an obligation on the part of Lender to make future advances or readvances to Borrower; and PROVIDED, FURTHER, that the total amount of the Secured Obligations and advances at any one time secured hereby shall in no event exceed $21,525,00070,000,000, plus interest thereon and all charges and expenses of collection incurred by ▇▇▇▇▇▇, including court costs and attorneys' fees and expenses and advancements for taxes, insurance premiums, public assessments and repairs, if any; and FURTHER to secure the full, timely and proper payment and performance of the Secured Obligations, Borrower hereby covenants and agrees with and warrants to Trustee for the benefit of Lender as follows:

Appears in 1 contract

Sources: Commercial Deed of Trust (Ensign Group, Inc)