The Mortgaged Property Sample Clauses
The "Mortgaged Property" clause defines the specific real estate and associated assets that are subject to the mortgage agreement. It typically details the address, legal description, and any fixtures or improvements included as collateral for the loan. By clearly identifying what property is being mortgaged, this clause ensures both parties understand the scope of the lender's security interest and helps prevent disputes over what assets are covered by the mortgage.
The Mortgaged Property. Borrower Information includes: (i) representations and warranties made in the Loan Documents, (ii) financial statements of Borrower, any SPE Equity Owner, any Designated Entity for Transfers or any Guarantor, and (iii) operating statements and rent rolls with respect to the Mortgaged Property. Borrower Information does not include any information provided directly to Lender or Loan Servicer by a third party such as an appraiser or an environmental consultant.
The Mortgaged Property pProviding a Guarantor’s estoppel, and entering into an indemnification agreement with Lender and any Indemnified Party of any Securitization that includes the Loan confirming Guarantor’s obligations under this Guaranty.
The Mortgaged Property. (A) All of the land in the County of _________, State of ________, described on EXHIBIT A attached hereto and made a part hereof, to have and to hold the same, together with each and every tenement, hereditament, easement, right, power, privilege, immunity, and appurtenance thereunto belonging or in anywise appertaining, and the reversion and reversions, remainder and remainders, and also the estate, right, title, interest, homestead, right of dower, separate estate, property, possession, and claim whatsoever in law as well as in equity of Mortgagor of, in, and to the same in every part and parcel thereof unto Mortgagee in leasehold title pursuant to the lease described on EXHIBIT B attached hereto. The real property described on Exhibit A is commercial property and does not constitute the homestead of any individual.
(i) All personal property and fixtures now or hereafter affixed to or located on the property described in Paragraph A hereof which is deemed to be fixtures and a part of the real property under applicable law; (ii) all articles of personal property and all materials delivered to the property described in Paragraph A hereof for use in any way thereof, and owned by Mortgagor; (iii) all contract rights, general intangibles, actions, and rights in action, including, without limitation, all rights to insurance policies and proceeds; (iv) all equipment including, without limitation, parts, accessories, attachments, special tools, additions, and accessions thereto; and (v) all proceeds, products, replacements, additions, substitutions, renewals, and accessions of any of the foregoing items. This Mortgage is a self-operative security agreement with respect to the above described property, but Mortgagor agrees to execute and deliver on demand such other security agreements, financing statements, and other instruments as Mortgagee may request in order to perfect its security interest or to impose the lien hereof more specifically upon any of such property. Mortgagee shall have all the rights and remedies, in addition to those specified herein, of a secured party under the _________ Uniform Commercial Code.
(C) All rents, issues, profits, revenue, income, accounts, proceeds, and other benefits flowing or derived from the property described in Paragraphs (A) and (B) hereof, provided, however, that permission is hereby given to Mortgagor so long as no default has occurred hereunder, to collect, receive, and use such benefits from the property as they bec...
The Mortgaged Property. The “Mortgaged Property” consists of all of Mortgagor’s estate, right, title and interest in and to the following described property and property rights, whether now existing or hereafter acquired, including in any greater estate hereafter acquired, with references in this Mortgage to the Mortgaged Property to mean and include all or any portion of or interest in any of the Mortgaged Property:
The Mortgaged Property. Save as disclosed in any Certificate of Title:
(a) the Chargor is the legal and beneficial owner of the Mortgaged Property;
(b) there subsists no breach of any law or regulation which affects or would be reasonably likely to affect materially the value of the Mortgaged Property;
(c) there are no covenants, agreements, stipulations, reservations, conditions, interest, rights or other matters whatsoever affecting the Mortgaged Property;
(d) nothing has arisen or has been created or is subsisting which would be an overriding interest over the Mortgaged Property;
(e) no facilities necessary for the enjoyment and use of the Mortgaged Property are enjoyed by the Mortgaged Property on terms entitling any person to terminate or curtail its use;
(f) the Chargor has received no notice of any adverse claims by any person in respect of the ownership of the Mortgaged Property or any interest in it, nor has any acknowledgement been given to any person in respect of the Mortgaged Property; and
(g) the Mortgaged Property is free from any Security Interest or any tenancies or licences.
The Mortgaged Property. GBP hereby covenants and agrees that, without the prior written approval of Select Energy, or as otherwise permitted in the Purchase Agreement, GBP (i) other than in the ordinary course of business and so long as any such transaction would not materially reduce or impair GBP's interest in the Mortgaged Property, will not, directly or indirectly, convey, assign, transfer, sell or otherwise dispose of all or any part of GBP's legal or beneficial interest in the Mortgaged Property, and (ii) will not create or permit to exist any Lien on its interest in the Mortgaged Property, which is superior to, or pari passu with, this Mortgage, other than the Senior Liens and Permitted Encumbrances.
The Mortgaged Property. The Borrower and the Guarantor hereby acknowledge and agree that none of the time span, scope or area covered by the foregoing restrictive covenants is or are unreasonable and that it is the specific intent of the Borrower and the Guarantor that each and all of the restrictive covenants set forth hereinabove shall be valid and enforceable as specifically set forth herein. The Borrower and the Guarantor further agree that these restrictions are special, unique, extraordinary and reasonably necessary for the protection of the Lender and any Purchaser and that the violation of any such covenant by any of the Limited Parties would cause irreparable damage to the Lender and any Purchaser for which a legal remedy alone would not be sufficient to fully protect such parties.
The Mortgaged Property. LBP hereby covenants and agrees that, without the prior written approval of Select Energy, or as otherwise permitted in the Purchase Agreement, LBP (i) other than in the ordinary course of business and so long as any such transaction would
The Mortgaged Property. The fee simple estate in and to the land, being all of Mortgagor’s right, title and interest in and to that certain real property briefly described below and more particularly described in Exhibit “A” attached hereto and incorporated herein by reference, including, without limitation, all present and future rights to possession and use, and all present and future options and other rights appurtenant to the following: All that certain piece, parcel or lot of land, together with the improvements thereon, known as ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Drive, West Columbia, South Carolina 29172, situate, lying and being in the Town of West Columbia, in the County of Lexington, in the State of South Carolina and being more particularly shown and designated as 52.42 acres on a plat of 420 ▇▇▇▇▇▇ Brothers Drive, prepared for American Realty Capital II, LLC, by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, dated September 16, 2009, last revised October 15, 2009, and recorded in the office of the Register of Deeds for Lexington County, SC, in Record Book __________ at page ___________; and having the boundaries and measurements as shown on said plat, reference being craved thereto as often as necessary for a more complete and accurate legal description; TMS No. # 007997-04-008; and any increases and additions thereto (collectively, the “Land”) and all air space above the surface of the Land, with the tenements, hereditaments, appurtenances, privileges, easements, franchises, rights, appendages and immunities thereunto belonging or appertaining;
The Mortgaged Property. Borrower Information includes: (I) representations and warranties made in the Loan Documents, (II) financial statements of Borrower, any SPE Equity Owner, any Designated Entity for Transfers or any Guarantor, and (III) operating statements and rent rolls with respect to the Mortgaged Property. Borrower Information does not include any information provided directly to Lender or Loan Servicer by a third-party such as an appraiser or an environmental consultant. (B) “Indemnification Affiliate” of any Person means: (1) Any other individual or entity that is, directly or indirectly, one of the following: (I) In Control of the applicable Person.