Common use of Condition of Grant Clause in Contracts

Condition of Grant. The condition of these presents is such that if Mortgagor and the other Borrowers shall pay or cause to be paid the Indebtedness as and when the same shall become due and payable and shall observe, perform and discharge the Obligations in accordance with this Mortgage and the other Loan Documents, then this Mortgage and the other Loan Documents and the estates and rights granted by them shall be released and terminated by Mortgagees.

Condition of Grant. The condition of these presents is such that if Mortgagor and the other Borrowers shall pay or cause to be paid the Indebtedness as and when the same shall become due and payable and shall observe, perform and discharge the Obligations in accordance with this Mortgage and the other Loan Documents, then this Mortgage and the other Loan Documents and the estates and rights granted by them shall be released and terminated by MortgageesMortgagee.