Common use of Invalidity of Certain Provisions Clause in Contracts

Invalidity of Certain Provisions. Every provision of this Mortgage is intended to be severable. If any term or provision hereof is declared to be illegal or invalid for any reason whatsoever by a court of competent jurisdiction, such illegality or invalidity will not affect the balance of the terms and provisions hereof, which terms and provisions will remain binding and enforceable. If the lien of this Mortgage is invalid or unenforceable as to any part of the debt, or if such lien is invalid or unenforceable as to any part of the Mortgaged Property, the unsecured or partially unsecured portion of the debt must be completely paid prior to the payment of the remaining secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, will be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this Mortgage.

Appears in 4 contracts

Sources: Security Agreement (Permex Petroleum Corp), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust II, Inc.), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust II, Inc.)

Invalidity of Certain Provisions. Every provision of this Mortgage Deed of Trust is intended to be severable. If any term or provision hereof is declared to be illegal or invalid for any reason whatsoever by a court of competent jurisdiction, such illegality or invalidity will not affect the balance of the terms and provisions hereof, which terms and provisions will remain binding and enforceable. If the lien of this Mortgage Deed of Trust is invalid or unenforceable as to any part of the debt, or if such lien is invalid or unenforceable as to any part of the Mortgaged PropertyTrust Estate, the unsecured or partially unsecured portion of the debt must be completely paid prior to the payment of the remaining secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, will be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this MortgageDeed of Trust.

Appears in 2 contracts

Sources: Security Agreement (Permex Petroleum Corp), Deed of Trust (Pro Dex Inc)

Invalidity of Certain Provisions. Every provision of this Mortgage Deed of Trust is intended to be severable. If In the event any term or provision hereof is declared to be illegal illegal, invalid or invalid unenforceable for any reason whatsoever by a court of competent jurisdiction, such illegality illegality, invalidity or invalidity will unenforceability shall not affect the balance of the terms and provisions hereof, which terms and provisions will shall remain binding and enforceable. If the lien of this Mortgage Deed of Trust is invalid or unenforceable as to any part of the debt, or if such the lien is invalid or unenforceable as to any part of the Mortgaged PropertyTrust Estate, the unsecured or partially unsecured secured portion of the debt must shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, will shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this MortgageDeed of Trust.

Appears in 1 contract

Sources: Option Agreement (Electronic Arts Inc)

Invalidity of Certain Provisions. Every provision of this Mortgage Deed of Trust is intended to be severable. If In the event any term or provision hereof is declared to be illegal illegal, invalid or invalid unenforceable for any reason whatsoever by a court of competent jurisdiction, such illegality illegality, invalidity or invalidity will unenforceability shall not affect the balance of the terms and provisions hereof, which terms and provisions will shall remain binding and enforceable. If the lien of this Mortgage Deed of Trust is invalid or unenforceable as to any part of the debt, or if such the lien is invalid or unenforceable as to any part of the Mortgaged PropertyCollateral, the unsecured or partially unsecured secured portion of the debt must shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or other enforcement action or procedure, will shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of this MortgageDeed of Trust.

Appears in 1 contract

Sources: Deed of Trust (NGA Holdco, LLC)