Common use of Pledge of Monies Held Clause in Contracts

Pledge of Monies Held. Borrower hereby pledges to Lender any and all monies now or hereafter held by Lender, including, without limitation, any sums deposited in the Funds (as defined in the Escrow Agreement), all insurance proceeds described in Section 3.2 and condemnation awards or payments described in Section 3.4, as additional security for the Obligations until expended or applied as provided in this Security Instrument. TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void; provided however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof with respect to matters relating to any period of time during which this Security Instrument was in effect shall survive any such payment or release.

Pledge of Monies Held. Borrower Mortgagor hereby pledges to Lender each Mortgagee and Agent, on behalf of Mortgagees, any and all monies now or hereafter held by Lendersuch Mortgagee and/or Agent, on behalf of Mortgagees, including, without limitation, any sums deposited in the Funds Escrow Fund (as defined in the Escrow AgreementSection 3.4), all insurance proceeds described Net Proceeds (as defined in Section 3.2 4.3) held by such Mortgagee and/or Agent, on behalf of Mortgagees, and condemnation awards or payments described in Section 3.43.5 held by such Mortgagee and/or Agent, on behalf of Mortgagees (collectively, “Deposits”), as additional security for the Obligations until expended or applied as provided in this Security Instrument. TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lendereach Mortgagee and Agent, on behalf of Mortgagees, and the successors and assigns of LenderAgent and each Mortgagee, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender upon either (i) the Debt payment in full of the Debts at the time and in the manner provided in the Note Debentures, the Securities Purchase Agreement and this Security InstrumentInstrument or (ii) the full conversion of Debentures into shares of common stock of Ener1 pursuant to the terms and conditions of the Debentures and the other Investment Documents, and if Mortgagor shall well and truly perform the Other Obligations (as defined in Section 2.1 hereof) as set forth in this Security Instrument Instrument, and shall well and truly abide by and comply with if each and every covenant and condition set forth herein and in the Noteany other Investment Documents shall have been well and truly abided by and complied with, these presents and the estate hereby granted shall cease, terminate and be void; provided however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof with respect to matters relating to any period of time during which this Security Instrument was in effect shall survive any such payment or release.

Pledge of Monies Held. Borrower hereby pledges to Lender any and all monies now or hereafter held by Lender, including, without limitation, any sums deposited in the Funds Escrow Fund (as defined in the Escrow AgreementSection 3.4), all insurance proceeds described the Deferred Maintenance Deposit (as defined on Exhibit B attached hereto and made a part hereof), the Reserve (as defined on Exhibit B), the Property Account or any Lender Collateral Account (as such terms are defined in that certain Cash Management Agreement of even date herewith between Borrower and Lender (the “Cash Management Agreement”)), Net Proceeds (as defined in Section 3.2 4.3(b)), and condemnation awards or payments described in Section 3.43.5 (collectively, “Deposits”), as additional security for the Obligations until expended or applied as provided in this Security Instrument. CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations (as defined in Section 2.1 hereof) as set forth in this Security Instrument and shall well and truly abide by and comply in all material respects with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void; provided however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof with respect to matters relating to any period of time during which this Security Instrument was in effect shall survive any such payment or release.

Pledge of Monies Held. Borrower SPTMRT hereby pledges to Lender, and grants to Lender a security interest in, any and all monies now or hereafter held by Lender, including, without limitation, any sums deposited in the Funds Net Proceeds (as defined in the Escrow AgreementSection 4.2), all insurance proceeds described in Section 3.2 and condemnation awards or payments described in Section 3.4, as additional security for the Obligations until expended or applied as provided in this Security Instrument. CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto Trustee in trust with power of sale in accordance with the terms and conditions hereof, for and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower all Commitments (as defined in the Loan Agreement) have terminated and the Loans and all other amounts payable by SHPT under the Loan Agreement, the Notes and the other Loan Documents have been paid in full, and if SHPT and SPTMRT shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note Loan Agreement, the Notes and the other Loan Documents and this Security InstrumentInstrument and the Other Security Documents (defined in Section 3.2), shall well and truly perform the Other Obligations as set forth in this Security Instrument Instrument, and shall well and truly abide by and comply with each and every covenant and condition set forth herein and and, to the extent applicable to SHPT or SPTMRT, in the NoteLoan Agreement, the Notes and the other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void; provided however, that Borrower’s obligation to indemnify and hold harmless Lender pursuant to the provisions hereof with respect to matters relating to any period of time during which this Security Instrument was in effect shall survive any such payment or release.