Security Deeds Clause Samples

Security Deeds. The mortgages and deeds of trust from the Mortgagor to the Agent pursuant to which the Mortgagor shall convey the Mortgaged Properties as security for the Obligations and the mortgages which secure the Assigned Notes and which are assigned to the Agent pursuant to the Assigned Note Assignments.

Security Deeds. The Mortgages, Deeds to Secure Debt and Deeds of Trust from the Borrower or any Approved Subsidiary to the Agent for the benefit of the Banks (or to trustees named therein acting on behalf of the Agent for the benefit of the Banks), as the same may be modified or amended, pursuant to which the Borrower or any Approved Subsidiary has conveyed a Mortgaged Property (including both Regular Real Estate and Special Real Estate) as security for the Obligations of the Borrower.

Security Deeds. The Deeds of Trust from a Borrower or Stibbs (which has been assumed by Land Company pursuant to the Assumption Agreement), to the Agent for the benefit of the Lenders (or to trustees named therein acting on behalf of the Agent for the benefit of the Lenders), as the same may be modified or amended, pursuant to which a Borrower has conveyed a Mortgaged Property as security for the Obligations, such Security Deeds to be in form and substance satisfactory to the Agent.

Security Deeds. Collectively, each deed of trust, mortgage and/or deed to secure debt from or assumed by any Loan Party, whether now existing or hereinafter entered into, in favor of Agent for the benefit of Lenders (or to trustees named therein acting on behalf of Agent for the benefit of Lenders), as modified, amended or restated from time to time, pursuant to which such Loan Party shall have conveyed or granted a mortgage lien upon or conveyed security title to each Mortgaged Property as security for the Obligations, each such deed of trust, mortgage and deed to secure debt to be in form and substance satisfactory to Agent.

Security Deeds. To secure the Borrower’s Obligations under (and as defined in) this Agreement and the Borrower’s obligations under the Unsecured Revolver Agreement, no later than the date that is thirty-five (35) days after the Amendment No. 2 Effective Date, each Borrower owning an Eligible Unencumbered Property included in the Unencumbered Pool shall execute and deliver a Security Deed to the Collateral Agent (the Agent hereby being authorized by the Lenders to enter into such collateral agent arrangements with the Collateral Agent as the Agent deems necessary or appropriate, including, in any event, to provide for the pari passu application of the proceeds of any foreclosure of the Security Deeds to the outstanding Obligations under and as respectively defined in the Unsecured Revolver Agreement and this Agreement), such Security Deeds to be held in escrow by the Collateral Agent until the Collateral Agent elects to (a) record the same, as directed by the Majority Lenders and/or the “Majority Lenders” (as such term is defined in the Unsecured Revolver Agreement), in each case in their sole discretion, or (b) release the same, as directed by both the Majority Lenders and the “Majority Lenders” (as such term is defined in the Unsecured Revolver Agreement), in each case in their sole discretion. The Borrower hereby authorizes the Collateral Agent, upon such direction, to record (at any time after such direction) one or more of the Security Deeds in the applicable land records and, at the Collateral Agent’s election, to obtain appraisals, title insurance policies insuring the first priority of the Security Deeds and, as applicable, endorsements to the owner’s title policies, and such other diligence, documents, evidence of insurance and the like as the Collateral Agent may require, in each case at such time as the Collateral Agent may determine, in the Collateral Agent’s sole discretion, and satisfactory to the Collateral Agent. In connection with the foregoing delivery and, if applicable, recording of the Security Deeds, the Agent is hereby authorized by the Lenders to (i) take such steps as it deems appropriate to minimize the taxes and other third party costs associated with the Security Deeds, including, without limitation, with respect to Eligible Unencumbered Properties located in the State of Maryland, by converting the status under the Loan Documents of any owners of such properties (other than FPLP) from a Borrower to a secondary obligor Guarantor on such conditio...

Security Deeds. The mortgages, deeds to secure debt and deeds of trust from each Mortgagor granted as security for the applicable Mortgage Debt.

Security Deeds. Collectively, the deed of trust, mortgage and/or deed to secure debt from or assumed by any Loan Party in favor of Agent for the benefit of Lenders (or to trustees named therein acting on behalf of Agent for the benefit of Lenders), pursuant to which such Loan Party shall have conveyed or granted a mortgage lien upon or conveyed security title to each Mortgaged Property as security for the Obligations, each such deed of trust, mortgage and deed to secure debt to be in form and substance satisfactory to Agent.

Security Deeds. The second mortgages, deeds to secure debt and deeds of trust from each Mortgagor to the Agent pursuant to which such Mortgagor shall mortgage or convey the Mortgaged Properties as security for the Obligations, subject to the liens in favor of the “Agent” under the Secured Revolving Credit Agreement.

Security Deeds. Collectively, the mortgage or deed of trust from each Collateral Property Mortgagor to the Agent for the benefit of the Lenders (or to trustees named therein acting on behalf of the Agent for the benefit of the Lenders), pursuant to which such Collateral Property Mortgagor has conveyed to the Agent a first-priority security interest in and to the Eligible Borrowing Base Property it owns as security for the Obligations, as the same may be modified, amended or restated from time to time.