Common use of Perfection Upon Recordation Clause in Contracts

Perfection Upon Recordation. Grantor acknowledges that Beneficiary has taken all reasonable actions necessary to obtain, and that upon recordation of this Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Deed of Trust, Beneficiary’s interest in the Rents shall be deemed to be fully perfected, “▇▇▇▇▇▇” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Beneficiary Grantee has taken all reasonable actions necessary to obtain, and that upon recordation of this Deed of Trust Beneficiary Security Deed, Grantee shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Deed of TrustSecurity Deed, BeneficiaryGrantee’s interest in the Rents shall be deemed to be fully perfected, “▇▇▇▇▇▇” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of TrustSecurity Deed, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor Mortgagor acknowledges that Beneficiary ▇▇▇▇▇▇▇▇▇ has taken all reasonable actions necessary to obtainprovide, and that upon recordation of this Deed of Trust Beneficiary Security Instrument Mortgagee shall have, to the extent permitted under applicable lawlaw and subject to the terms of each Intercreditor Agreement and other Permitted Liens, a valid and fully perfected, [first priority, priority][second priority]5 present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances and in the case of security deposits, rights of depositors and requirements of lawLeases. Grantor ▇▇▇▇▇▇▇▇▇ acknowledges and agrees that upon recordation of this Deed of Trust, BeneficiarySecurity Instrument Mortgagee’s interest in the Rents shall be deemed to be fully perfected, “▇▇▇▇▇▇” and enforced as to Grantor Mortgagor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of TrustSecurity Instrument, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Beneficiary has taken all reasonable actions necessary to obtain, and that upon recordation of this Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Deed of Trust, Trust Beneficiary’s interest in the Rents shall be deemed to be fully perfected, “▇▇▇▇▇▇” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor Mortgagor acknowledges that Beneficiary M▇▇▇▇▇▇▇▇ has taken all reasonable actions necessary to obtainprovide, and that upon recordation of this Deed of Trust Beneficiary Security Instrument Mortgagee shall have, to the extent permitted under applicable lawlaw and subject to the terms of each Intercreditor Agreement and other Permitted Liens, a valid and fully perfected, [first priority, priority][second priority]6 present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances and in the case of security deposits, rights of depositors and requirements of lawLeases. Grantor M▇▇▇▇▇▇▇▇ acknowledges and agrees that upon recordation of this Deed of Trust, BeneficiarySecurity Instrument Mortgagee’s interest in the Rents shall be deemed to be fully perfected, “▇c▇▇▇▇▇” and enforced as to Grantor Mortgagor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of TrustSecurity Instrument, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Beneficiary has taken all reasonable actions necessary to obtain, and that upon recordation of this Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Encumbrances Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Deed of Trust, Beneficiary’s interest in the Rents shall be deemed to be fully perfected, “▇▇▇▇▇▇” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Deed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.