Secured Amount Clause Samples

Secured Amount. The maximum aggregate amount of all indebtedness that is, or under any contingency may be secured at the date hereof or at any time hereafter by this Mortgage is $[ ]2 (the “Secured Amount”), plus, to the extent permitted by applicable law, collection costs, sums advanced for the payment of taxes, assessments, maintenance and repair charges, insurance premiums and any other costs incurred to protect the security encumbered hereby or the lien hereof, expenses incurred by the Mortgagee by reason of any default by the Mortgagor under the terms hereof, together with interest thereon, all of which amount shall be secured hereby.

Secured Amount. The amount secured under this Agreement is limited to a maximum principal amount equal to the lesser of (i) the Secured Obligations and (ii) USD 1,750,000,000 plus any unpaid amounts of interest and default interest under the Note Documents and enforcement costs.

Secured Amount. The Company shall not at any time permit the Secured Amount to be less than the Tranche A Loan Limit.

Secured Amount. Each Future Advance shall be considered an advance of the Loan Amount, shall be added to the unpaid principal balance of the Loan as of the day such advance is made for purposes of Borrower’s payment obligations under this Agreement, and repayment thereof, together with interest thereon, shall be secured by the Mortgage and other collateral given for the Loan. No waiver given by Note B-2 Lender of any condition precedent to a Future Advance shall preclude Note B-2 Lender from requiring that such condition be satisfied prior to making any other Future Advance.

Secured Amount. The maximum aggregate amount of all indebtedness that is, or under any contingency may be secured at the date hereof or at any time hereafter by this Mortgage is $[ ] (the “Secured Amount”), plus, to the extent permitted by applicable law, collection costs, sums advanced for the payment of taxes, assessments, maintenance and repair charges, insurance premiums and any other costs incurred to protect the security encumbered hereby or the lien hereof, expenses incurred by the Mortgagee by reason of any default by the Mortgagor under the terms hereof, together with interest thereon, all of which amount shall be secured hereby. So long as the aggregate amount of the Obligations exceeds the Secured Amount, any payments and repayments of the Obligations shall not be deemed to be applied against or to reduce the Secured Amount.

Secured Amount. The Borrower and Lender represent to IDL that the amount secured by the Mortgage does not exceed the greater of: (1) the current fair market value of the improvements owned or controlled by Borrower that are currently or will be located on the Leased Premises; (2) the value of existing improvements, if any, and any improvements to be constructed on the Leased Premises as a result of the amount loaned by ▇▇▇▇▇▇ to Borrower; or (3) an amount equal to the annual operating expenses for Borrower's activities on the Leased Premises. Any improvements owned by Borrower constitute the personal property of ▇▇▇▇▇▇▇▇ and shall be dealt with in accordance with the terms and conditions of the Lease.

Secured Amount. (a) For purposes of this Mortgage and in order to comply with Title 46, Section 31321(b)(3) of the United States Code, the parties to this Mortgage hereby declare that the Indebtedness secured hereby as of the date hereof is the sum of FIVE MILLION, EIGHT HUNDRED, TWENTY-SEVEN THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($5,827,500.00), as the principal amount of Indebtedness together with performance of mortgage covenants. The discharge amount is the same as the total amount, together with interest, attorneys' fees, costs and other expenses and performance of mortgage covenants. (b) It is not intended that this Mortgage include any property other than the Barge, as defined in the Granting Clause hereto, but should any determination be made at any time for any reason that this Mortgage includes any property other than a "vessel," then if such property is comprised of incidental equipment, such property may be separately discharged from the lien of this Mortgage by the payment of one-one hundredth of one percent of the total amount of the Note then remaining unpaid.

Secured Amount. For purposes of La. Civ. Code art. 3288, as well as La. R.S. § 9:4401, the maximum amount of the Obligations secured by this Mortgage, as outstanding from time to time, one or more times, both as a multiple indebtedness mortgage and as an assignment of leases and rents shall be limited to FIFTY MILLION AND NO/100 DOLLARS (U.S.) ($50,000,000.00), including, to the extent permitted by applicable law, collection costs, sums advanced for the payment of taxes, assessments, maintenance and repair charges, insurance premiums and any other costs incurred to protect the security encumbered hereby or the lien hereof, expenses incurred by Beneficiary by reason of any default by Mortgagor under the terms hereof, together with interest thereon, all of which amount shall be secured hereby.

Secured Amount. Should the Secured Amount be paid according to the tenor and effect thereof when the same becomes due and payable hereunder, and should the Lessee perform all covenants contained in the Operative Documents in a timely manner, then the Trustee and the Secured Party shall, at the expense of the Lessee, cause this Mortgage to be released. Such release shall be effected in accordance with the provisions of the Applicable Laws of the State of West Virginia then in effect.