Common use of Additional Advances and Disbursements Clause in Contracts

Additional Advances and Disbursements. (a) Mortgagor agrees that if an Event of Default occurs hereunder, then Mortgagee shall have the right without notice to Mortgagor to advance all or any part of amounts owing or to perform any or all required actions. No such advance or performance shall be deemed to have cured such default by Mortgagor or any Event of Default with respect thereto. All sums advanced and all expenses incurred by Mortgagee in connection with such advances or actions, and all other sums advanced or expenses incurred by Mortgagee hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall be part of the Obligations, shall bear interest at the rate and as provided in the Credit Agreement and shall be secured by this Mortgage. (b) This Mortgage secures not only existing indebtedness, but also future or additional protective advances made in each case pursuant hereto or to the Credit Agreement, the Permitted ▇▇▇▇▇▇, if any, whether such advances are obligatory or optional.

Additional Advances and Disbursements. (a) Mortgagor Grantor agrees that if that, upon the occurrence of an Event of Default occurs hereunderDefault, then Trustee or Mortgagee shall have the right without notice to Mortgagor Grantor to advance all or any part of amounts owing or to perform any or all required actions. No such advance or performance shall be deemed to have cured such default Default by Mortgagor Grantor or any Event of Default with respect thereto. All sums advanced and all expenses incurred by Trustee or Mortgagee in connection with such advances or actions, and all other sums advanced or expenses incurred by Trustee or Mortgagee hereunder or under applicable law (whether required or optional and whether indemnified hereunder or not) shall be part of the Obligations, shall bear interest at the rate Default Rate and as provided in the Credit Agreement and shall be secured by this Mortgage. (b) This Mortgage secures not only existing indebtedness, but also future or additional protective advances made in each case pursuant hereto or to the Credit Agreement, the Permitted ▇▇▇▇▇▇, if any, whether such advances are obligatory or optional.