Common use of Defective Collateralization Clause in Contracts

Defective Collateralization. This Mortgage or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 7 contracts

Sources: Mortgage (Autoscope Technologies Corp), Mortgage (Adcare Health Systems, Inc), Mortgage (Gta-Ib, LLC)

Defective Collateralization. This Mortgage Assignment or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 7 contracts

Sources: Assignment of Rents (Autoscope Technologies Corp), Business Loan Agreement (Clearday, Inc.), Assignment of Rents (Arts Way Manufacturing Co Inc)

Defective Collateralization. This Mortgage Assignment or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document documents to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 2 contracts

Sources: Loan and Security Agreement (Snowdance Inc), Business Loan Agreement (Jameson Inns Inc)

Defective Collateralization. This Mortgage Assignment or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 1 contract

Sources: Assignment of Leases and Rents (Eaco Corp)

Defective Collateralization. This Mortgage or any of the Related Documents ceases to be in full force and effect affect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 1 contract

Sources: Mortgage

Defective Collateralization. This Mortgage Note or any of the Related Documents related documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason.

Appears in 1 contract

Sources: Promissory Note (Wilshire Financial Services Group Inc)