Preferred Status. Nothing contained herein shall be construed as a waiver by the Mortgagees or shall waive the preferred status of the Mortgage and any provisions which would otherwise constitute such a waiver shall to such extent be void and have no force and effect. Nothing herein is intended to or shall effect the perfection or priority of the Mortgage.
Appears in 2 contracts
Sources: Underwriting and Continuing Indemnity Agreement, Underwriting and Continuing Indemnity Agreement (Great Lakes Dredge & Dock CORP)