Common use of Mortgaged Property Documents Clause in Contracts

Mortgaged Property Documents. (A) Borrowers are (or, with respect to any Mortgaged Property Documents hereafter made, will be) the sole owners and holders of Borrowers’ Interest in each Mortgaged Property Document, and Borrowers have not transferred or otherwise assigned any interest of Borrowers as a party to any Mortgaged Property Document; (B) each of the Mortgaged Property Documents is (or, with respect to any Mortgaged Property Documents hereafter made, will be) valid and enforceable and in full force and effect, and has not been (or, with respect to any Mortgaged Property Documents hereafter made, will not be) altered, modified or amended in any manner whatsoever except as permitted in this Agreement, (C) none of the Rents has been or will be assigned, pledged or in any manner transferred or hypothecated, except pursuant to this Agreement, and (D) none of the Rents, for any period subsequent to the date of this Agreement, has been or will be collected in advance of the time when such Rents become due under the terms of the Assigned Leases.

Mortgaged Property Documents. (Aa) Borrowers are Each Obligor is (or, with respect to any Mortgaged Property Documents hereafter made, will be) the sole owners owner and holders holder of Borrowers’ such Obligor’s Interest in each Mortgaged Property Document, and Borrowers have such Obligor has not transferred or otherwise assigned any interest of Borrowers such Obligor as a party to any Mortgaged Property Document; (Bb) each Each of the Mortgaged Property Documents is (or, with respect to any Mortgaged Property Documents hereafter made, will be) valid and enforceable and in full force and effect, and has not been (or, with respect to any Mortgaged Property Documents hereafter made, will not be) altered, modified or amended in any manner whatsoever except as permitted in this Agreement,; (Cc) none None of the Rents has been or will be assigned, pledged or in any manner transferred or hypothecated, except pursuant to this Agreement, Agreement or the Senior Credit Facility; and (Dd) none None of the Rents, for any period subsequent to the date of this Agreement, has been or will be collected in advance of the time when such Rents become due under the terms of the Assigned Leases.