Common use of Amendments to Financing Statements Clause in Contracts

Amendments to Financing Statements. If, at any time, any of the information contained in any financing statement filed in connection with the security interests created by this Mortgage, including without limitation, the description of the collateral, shall change in any manner so as to cause such financing statement to become misleading in any material respect or to impair the perfection of the security interests intended to be created by this Mortgage, then Mortgagor shall immediately advise Mortgagee of such change and, upon Mortgagee's request, Mortgagor shall promptly prepare any amendments to any affected financing statement necessary in order to protect and continue the perfection of the security interest intended to be created thereby, and will obtain the signatures of the debtor and secured party to such amendment, and file the same in all offices where such amendment is required to be filed to order to protect and continue the perfection of the security interest intended to be created thereby. Mortgagor shall prepare, have executed and file (and hereby irrevocably constitutes and appoints Mortgagee as its attorney-in-fact to prepare, execute and file) any amendments to the financing statements filed with respect to the security interests created by this Mortgage in such form as Mortgagee may require in order to continue the perfection of such security interests. Mortgagor shall pay all costs and expenses incurred in connection with the performance of its obligations set forth in this Section.

Appears in 1 contract

Sources: Land Acquisition and Development Loan Agreement (Transeastern Properties Inc)

Amendments to Financing Statements. If, at any time, any of ----------------------------------- the information contained in any financing statement filed in connection with the security interests created by this Mortgage, including without limitation, the description of the collateral, shall change in any manner so as to cause such financing statement to become misleading in any material respect or to impair the perfection of the security interests intended to be created by this Mortgage, then Mortgagor shall immediately advise Mortgagee of such change and, upon Mortgagee's request, Mortgagor shall promptly prepare any amendments to any affected financing statement necessary in order to protect and continue the perfection of the security interest intended to be created thereby, and will obtain the signatures of the debtor and secured party to such amendment, and file the same in all offices where such amendment is required to be filed to order to protect and continue the perfection of the security interest intended to be created thereby. Mortgagor shall prepare, have executed and file (and hereby irrevocably constitutes and appoints Mortgagee as its attorney-in-fact to prepare, execute and file) any amendments to the financing statements filed with respect to the security interests created by this Mortgage in such form as Mortgagee may require in order to continue the perfection of such security interests. Mortgagor shall pay all costs and expenses incurred in connection with the performance of its obligations set forth in this Section.

Appears in 1 contract

Sources: Mortgage, Security Agreement, and Financing Statement (Pinnacle Business Management Inc)

Amendments to Financing Statements. If, at any time, any of the information contained in any financing statement filed in connection with the security interests created by this MortgageDeed of Trust, including without limitation, the description of the collateralCollateral, shall change in any manner so as to cause such financing statement to become misleading in any material respect or to impair the perfection of the security interests intended to be created by this MortgageDeed of Trust, then Mortgagor Grantor shall immediately advise Mortgagee Beneficiary of such change and, upon MortgageeBeneficiary's request, Mortgagor Grantor shall promptly prepare any amendments to any affected financing statement necessary in order to protect and continue the perfection of the security interest intended to be created thereby, and will obtain the signatures of the debtor and secured party to such amendment, and file the same in all offices where such amendment is required to be filed to in order to protect and continue the perfection of the security interest intended to be created thereby. Mortgagor Grantor shall prepare, have executed and file (and hereby irrevocably constitutes and appoints Mortgagee Beneficiary as its attorney-in-fact to prepare, execute and file) any amendments to the financing statements filed with respect to the security interests created by this Mortgage Deed of Trust in such form as Mortgagee Beneficiary may require in order to continue the perfection of such security interests. Mortgagor Grantor shall pay all costs and expenses incurred in connection with the performance of its obligations set forth in this Section.

Appears in 1 contract

Sources: Deed of Trust (Emeritus Corp\wa\)