Common use of Matters Relating to Additional Real Property Collateral Clause in Contracts

Matters Relating to Additional Real Property Collateral. From and after the Closing Date, in the event that (i) any Obligor acquires any fee interest in real property with an appraised value in excess of $1,000,000 or (ii) at the time any Person becomes a Guarantor, such Person owns or holds any fee interest in real property with an appraised value in excess of $1,000,000, excluding (in the case of clause (ii) above) the then-existing senior lienholder, where the applicable Obligor or such Guarantor is unable to obtain such senior lienholder’s consent (any such non-excluded Real Estate described in the foregoing clause (i) or (ii) being an “Additional Mortgaged Property”), deliver to Agent, as soon as practicable after such Obligor acquires such Additional Mortgaged Property or becomes a Guarantor, as the case may be, the following:

Matters Relating to Additional Real Property Collateral. From and after the Closing Date, in the event that (i) the Borrower or any Obligor Guarantor acquires any fee interest in real property with an appraised value in excess of $1,000,000 or (ii) at the time any Person becomes a Guarantor, such Person owns or holds any fee interest in real property with an appraised value in excess of $1,000,000, excluding (in the case of clause (ii) above) the then-existing senior lienholder, where the applicable Obligor Borrower or such Guarantor is unable to obtain such senior lienholder’s consent (any such non-excluded Real Estate described in the foregoing clause (i) or (ii) being an “Additional Mortgaged Property”), deliver to the Agent, as soon as practicable after such Obligor Person acquires such Additional Mortgaged Property or becomes a Guarantor, as the case may be, the following: