TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of Trustee, its successors and assigns, in trust, forever, to secure the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:
Appears in 4 contracts
Sources: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Radnor Holdings Corp), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Radnor Holdings Corp), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Radnor Holdings Corp)
TO HAVE AND TO HOLD. all and singular the above granted aforesaid property unto the Mortgagee, and conveyed Property unto and to the proper use and benefit of Trustee, its successors and assigns, in trust, forever, to secure trust for the payment equal and performance proportionate benefit and security of the Liabilities. IN TRUSTNote Holders, WITH THE POWER OF SALEthe Related Secured Parties and the Indenture Indemnitees, to secure payment except as provided in Section 2.12 and performance to Beneficiary Article III hereof, without any preference, distinction or priority of any one Equipment Note over any other, or any Related Equipment Note over any other, by reason of priority of time of issue, sale, negotiation, date of maturity thereof or otherwise for any reason whatsoever, and for the Liabilities at the time uses and purposes and in all cases and as to all property specified in paragraphs (1) through (5) inclusive above, subject to the manner provided for its payment in the Credit Agreement terms and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as provisions set forth in this Trust Indenture. It is expressly agreed that anything herein contained to the Credit Agreementcontrary notwithstanding, this Deed the Owner shall remain liable under the Indenture Agreements to perform all of Trust and the Other Documents and shall well and truly abide obligations assumed by and comply with each and every covenant and condition set forth herein and in it thereunder, except to the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary extent prohibited or excluded from doing so pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to surviveterms and provisions thereof, and any other obligation that is specifically agreed to survive such full repaymentthe Mortgagee, performance the Note Holders, the Related Secured Parties and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein the Indenture Indemnitees shall have no obligation or liability under the meaning ascribed to them in the Tranche A Security Agreement. To the extent Indenture Agreements by reason of any inconsistency between the terms hereof and the terms or arising out of the Tranche A Security Agreementassignment hereunder, nor shall the Mortgagee, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of TexasNote Holders, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof Related Secured Parties or the Credit Agreement Indenture Indemnitees be required or obligated in any of the Other Documents manner to protect the security of this Deed of Trust, the Credit Agreement perform or fulfill any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors Owner under the Credit Agreement with respect or pursuant to the Tranche B LoansIndenture Agreements, or, except as herein expressly provided, to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it, or present or file any claim, or take any action to collect or enforce the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. The Owner does hereby constitute the Mortgagee the true and lawful attorney of the Owner, irrevocably, granted for good and valuable consideration and coupled with an interest and with full power of substitution, and with full power (in the name of the Owner or otherwise) to ask for, require, demand, receive, compound and give acquittance for any and all monies and claims for monies (in each case including insurance and requisition proceeds) due and to become due under or arising out of the Indenture Agreements, and all other property which now or hereafter constitutes part of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or to take any action or to institute any proceedings which the Mortgagee may deem to be necessary or advisable in the premises; provided that the Mortgagee shall not exercise any such rights except upon the occurrence and during the continuance of an Event of Default hereunder. The Owner agrees that at any time and from time to time, upon the written request of the Mortgagee, the Owner will promptly and duly execute and deliver or cause to be duly executed and delivered any and all such further instruments and documents (including without limitation UCC continuation statements) as the Mortgagee may reasonably deem necessary to perfect, preserve or protect the mortgage, security interests and assignments created or intended to be created hereby or to obtain for the Mortgagee the full benefits of the assignment hereunder and of the rights and powers herein granted. IT IS HEREBY COVENANTED AND Grantor covenants AGREED by and agrees with and represents to Trustee between the parties hereto as follows:
Appears in 3 contracts
Sources: Trust Indenture and Mortgage (United Air Lines Inc), Trust Indenture and Mortgage (United Air Lines Inc), Trust Indenture and Mortgage (Ual Corp /De/)
TO HAVE AND TO HOLD. the above granted and conveyed Property same unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, upon the terms set forth in this Mortgage for the enforcement of the payment of the Secured Indebtedness and to secure the payment performance and performance observance of and compliance with the Liabilities. IN TRUSTcovenants, WITH THE POWER OF SALEterms and conditions contained in this Mortgage, to secure payment and performance to Beneficiary of the Liabilities at Note, the time and in the manner provided for its payment in the Credit Loan Agreement and in this Deed the other Loan Documents. PROVIDED only and the conditions of Trust. PROVIDED, HOWEVER, these presents are upon the express condition such that, if Grantor the Owner, or its successors or permitted assigns, shall well pay or cause to be paid to the Mortgagee or its successors and truly perform assigns, the Secured Indebtedness as and pay to Beneficiary when the Liabilities at same shall become due and payable in accordance with the time and in terms of this Mortgage, the manner provided in the Credit Loan Agreement, this Deed of Trust the Note and the Other Documents, other Loan Documents (or any other agreement entered into pursuant to the terms thereof or hereof) and shall well and truly perform the Liabilities as set forth in the Credit Agreementperform, this Deed of Trust and the Other Documents and shall well and truly abide by observe and comply with each and every covenant covenant, term and condition set forth herein and contained in this Mortgage, the Credit Agreement Loan Agreement, the Note and the Other other Loan Documents, expressed or implied, to be performed, observed or complied with by and on the part of the Owner, its successors or assigns, all without delay, then, these presents and the estate hereby granted rights of the Mortgagee under this Mortgage shall ceasecease and terminate and, terminate and be void and Beneficiary shall release in such event, the lien and security interest created by this Deed of Trust upon the request of and Mortgagee agrees, at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other DocumentsOwner, to execute and deliver all such documents as the extent specified herein or therein Owner may reasonably require to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have discharge this Mortgage under the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms laws of the Tranche A Security Agreement, the terms Republic of the Tranche A Security Agreement M▇▇▇▇▇▇▇ Islands; otherwise to be and remain in full force and effect. It is declared and hereby agreed that the security created by this Mortgage shall control, except that with respect to be held by the remedies of Mortgagee as a Trustee under continuing security for the law prompt payment of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:Indebtedness.
Appears in 2 contracts
Sources: Loan and Security Agreement (Overseas Shipholding Group Inc), Loan Agreement (Overseas Shipholding Group Inc)
TO HAVE AND TO HOLD. all and singular, the above granted Trust Estate with all rights and conveyed Property unto privileges pledged and assigned, or agreed or intended so to be, to the proper use Trustee and benefit of Trustee, its successors in trust and assigns; IN TRUST NEVERTHELESS, upon the terms and subject to the conditions set forth in trustthis Indenture, foreverfor the equal and proportionate benefit, protection and security of all Bonds issued and Outstanding under this Indenture, without preference, priority or distinction as to secure the payment and performance lien or otherwise of any of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary Bonds over any other of the Liabilities Bonds except as expressly provided in or permitted by this Indenture; PROVIDED, HOWEVER, that if the Issuer shall pay, or cause to be paid, the principal of and interest on all the Bonds, at the time times and in the manner provided for its payment mentioned in the Credit Agreement Bonds according to the true intent and in this Deed of Trust. PROVIDEDmeaning thereof, HOWEVER, these presents are upon or shall provide for the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner payment thereof (as provided in the Credit Agreement, Article XIII of this Deed of Trust and the Other DocumentsIndenture), and shall well pay or cause to be paid to the Trustee all other sums of money due or to become due to it in accordance with the terms and truly perform the Liabilities as set forth in the Credit Agreementprovisions of this Indenture, then upon such final payments this Deed of Trust Indenture and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate rights hereby granted shall cease, terminate and be void void; otherwise, this Indenture shall be and Beneficiary shall release remain in full force and effect. THIS INDENTURE FURTHER WITNESSETH, and it is expressly declared, covenanted and agreed by and between the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, howeverparties hereto, that any obligation of Grantor all Bonds issued and secured under this Indenture are to indemnify be issued, authenticated and hold harmless Beneficiary pursuant delivered and that all the Trust Estate is to be held and applied under, upon and subject to the Credit Agreementterms, this Deed of Trust and/or the Other Documentsconditions, to the extent specified herein or therein to survivestipulations, covenants, agreements, trusts, uses and purposes as hereinafter expressed, and any other obligation that is specifically agreed the Issuer does hereby agree and covenant with the Trustee and with the respective Owners from time to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms time of the Tranche A Security AgreementBonds, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:
Appears in 2 contracts
Sources: Trust Indenture, Trust Indenture
TO HAVE AND TO HOLD. all the above granted and conveyed Property Indenture Estate unto and to the proper use and benefit of Indenture Trustee, its successors and assigns, in trust, forever, to secure assigns FOREVER. The Lien and security interest created hereby is created for the payment ratable benefit and performance security of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary Noteholders of the Liabilities at the Outstanding Notes from time and to time without any priority of any one Note or series of Notes over any other except as otherwise expressly provided in the manner provided Indenture, and for its payment the uses and purposes and subject to the terms and conditions set forth in the Credit Agreement and in this Deed of TrustIndenture. PROVIDED, HOWEVER, these presents are upon that if the express condition thatprincipal of, Premium, if Grantor any, on and interest on the Series A Notes, and all other amounts payable under or secured by the Indenture shall well and truly perform and pay have been paid pursuant to Beneficiary Section 3.1 of the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust Original Indenture or otherwise and the Other DocumentsLessor shall have performed and complied with all the covenants, agreements, terms and shall well and truly perform provisions of the Liabilities as set forth in Indenture, then the Credit Agreement, this Deed of Trust Indenture and the Other Documents rights hereby and shall well thereby granted and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that assigned with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust Series A Notes shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid terminate with respect to the Liabilities so as Series A Notes. IT IS HEREBY COVENANTED AND AGREED that all the Series A Notes are to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amountbe issued and delivered, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge that all property, rights and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes privileges subject or the obligations of the Guarantors under the Credit Agreement with respect to become subject to the Tranche B Loans. AND Grantor Indenture, are to be held subject to the further covenants, conditions, uses and trusts herein and therein set forth, and the Lessor, intending to be legally bound hereby, hereby covenants and agrees with the Indenture Trustee for itself and represents for the equal and proportionate benefit and security of the Noteholders of the Outstanding Notes from time to time, and the Indenture Trustee agrees to accept the trust and duties herein set forth, as follows:
Appears in 2 contracts
Sources: Trust Indenture and Security Agreement (Royal Ahold), Trust Indenture and Security Agreement (Royal Ahold)
TO HAVE AND TO HOLD. all the above granted and conveyed Property Indenture Estate unto and to the proper use and benefit of Indenture Trustee, its respective successors and assigns, in trust, forever, to secure assigns FOREVER. The Lien and security interest created hereby is created for the payment ratable benefit and performance security of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary Noteholders of the Liabilities at Outstanding Notes from time to time without any priority of any one Note or series of Notes over any other except as herein otherwise expressly provided, and for the time uses and in purposes and subject to the manner provided for its payment in the Credit Agreement terms and conditions set forth in this Deed of TrustIndenture. PROVIDED, HOWEVER, these presents are upon that if the express condition thatprincipal of, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premiumPremium, if any, plus any disbursements on and taxes and insurance interest on the Property Notes, and any all other sums advanced in accordance amounts payable hereunder or secured hereby, shall have been paid pursuant to Section 3.1 or otherwise and the Lessor shall have performed and complied with all the covenants, agreements, terms hereof and provisions hereof, then this Indenture and the rights hereby granted and assigned shall terminate. IT IS HEREBY COVENANTED AND AGREED that all the Notes are to be issued and delivered, and that all property, rights and privileges subject or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trustbecome subject hereto, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall are to be reduced only by the last and final sums that are repaid with respect held subject to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amountfurther covenants, conditions, uses and trusts herein set forth, and shall not the Lessor, intending to be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor legally bound hereby, hereby covenants and agrees with the Indenture Trustee for itself and represents for the equal and proportionate benefit and security of the holders of the Notes Outstanding from time to time, and the Indenture Trustee agrees to accept the trusts and duties herein set forth, as follows:
Appears in 2 contracts
Sources: Trust Indenture and Security Agreement (Royal Ahold), Trust Indenture and Security Agreement (Royal Ahold)
TO HAVE AND TO HOLD. the above granted and conveyed Property same unto and to the proper use and benefit of TrusteeAssignee, its successors and assignsassigns from and after the date hereof for all the rest of the term of the Trademark Consent (and any renewals, in trustextensions and other options therein contained), foreversubject to the covenants, conditions and provisions therein contained. IN ADDITION, from time to time after the date hereof, without further consideration, Assignors shall execute and deliver such other instruments of assignment, transfer and conveyance and shall take such other action as Assignee may reasonably request to more effectively assign, transfer and convey to Assignee, all of Assignors’ right, title and interest in, to secure and under the payment Trademark Consent, or to enable Assignee to exercise and performance enjoy all rights and benefits of Assignors with respect thereto. ASSIGNEE HEREBY assumes and agrees to perform any and all liabilities and obligations under the Liabilities. IN TRUST, WITH THE POWER OF SALE, Trademark Consent to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsextent, and only to the extent, first arising after the Closing. This Agreement shall well inure to the benefit of and truly perform the Liabilities as set forth in the Credit Agreementbe binding upon Assignors and Assignee and their respective successors and assigns. IMWHP, LLC, a Delaware limited liability company, shall be a third party beneficiary of this Deed of Trust and the Other Documents Assignment and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor entitled to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between enforce the terms hereof and hereof. This Agreement is expressly made subject to the terms of the Tranche A Security Purchase Agreement, the terms . The delivery of the Tranche A Security this Agreement shall controlnot amend, except that with respect to the remedies of a Trustee under the law of the State of Texasaffect, the terms of this Deed of Trust shall govern; providedenlarge, howeverdiminish, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than anothersupersede, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trustmodify, the Tranche A Security Agreementreplace, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence rescind, waive or further secure the payment and performance of otherwise impair any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount representations, warranties, covenants, indemnities, terms or provisions of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Purchase Agreement or any of the Other Documents to protect rights, remedies or obligations of Assignors or Assignee provided for therein or arising therefrom in any way, all of which shall remain in full force and effect in accordance with their terms. This Agreement shall be governed and enforced in accordance with the security of this Deed of Trust, the Credit Agreement or any laws of the Other DocumentsState of Delaware without regard to conflicts of law principles. This Agreement may be executed in two or more counterparts, plus interest on such disbursements each of which shall be deemed an original but all of which together shall constitute one and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance same agreement and shall become effective when one or more counterparts have been signed by each of the Liabilities outstanding equals Parties hereto and delivered to the other. Any such counterpart, to the extent delivered by means of a .pdf, .tif, .gif, .jpeg or exceeds the Secured Amountsimilar attachment to electronic mail (any such delivery, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount an “Electronic Delivery”) shall be reduced only by treated in all manner and respects as an original executed counterpart and shall be considered to have the last and final sums same binding legal effect as if it were the original signed version thereof delivered in person. No Party hereto shall raise the use of Electronic Delivery to deliver a signature or the fact that are repaid with respect any signature or agreement or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the Liabilities so as to make the aggregate principal balance formation of the Liabilities equal to an amount less than the Secured Amounta contract, and shall not be reduced by each such party forever waives any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect such defense, except to the Tranche B Loans. AND Grantor covenants and agrees with and represents extent that such defense relates to Trustee as follows:lack of authenticity.
Appears in 1 contract
Sources: Membership Interest Purchase Agreement (XCel Brands, Inc.)
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreementfull, and (ii) each and every representation, warranty, agreement and covenant of this Deed of Trust Mortgage and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust Indenture and the Other Documents is complied with and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documentsabided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasLouisiana, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit AgreementIndenture) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,00070,000,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,00070,000,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement Indenture or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement Indenture or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement Indenture (the “Secured Amount”). Notwithstanding any other provision of this Mortgage, the maximum amount of the Secured Amount secured hereby shall be limited to $250,000,000.00. For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsfull, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with (ii) each and every representation, warranty, agreement and covenant of this Mortgage and condition set forth herein and in the Credit Agreement and the Other DocumentsDocuments is complied with and abided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasIllinois, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively hereinafter, collectively, referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000190,000,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust Mortgage does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsfull, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with (ii) each and every representation, warranty, agreement and covenant of this Mortgage and condition set forth herein and in the Credit Agreement and the Other DocumentsDocuments is complied with and abided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasNew Jersey, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust Mortgage does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
TO HAVE AND TO HOLD. the above granted and conveyed described Property (except as to that portion of the Property subject to the Ground Lease) unto and to the proper use and benefit of Trustee, Grantee and its successors and assigns, in trust, forever, and as to secure the payment and performance portion of the Liabilities. IN TRUST, WITH THE POWER OF SALEProperty subject to the Ground Lease as described on Exhibit A (the “Leasehold Parcel”), to secure payment the use and performance to Beneficiary benefit of Grantee, and its successors and assigns, for and during the rest, residue and remainder of the Liabilities at the time term of years yet to come and unexpired in the manner Ground Lease and the renewals therein provided for its payment in subject, nevertheless, to the Credit Agreement rents, covenants, conditions and in this Deed provisions of Trust. the Ground Lease; PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary Grantee the Liabilities Debt at the time and in the manner provided in the Credit AgreementNote, the Loan Agreement and this Deed of Trust and the Other DocumentsSecurity Instrument, and shall well and truly perform the Liabilities Other Obligations as set forth in the Credit Agreement, this Deed of Trust and the Other Documents Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Note, the Loan Agreement and the Other other Loan Documents, these presents Grantee shall reconvey the Property to Grantor and instruct the estate hereby granted shall cease, terminate and be void and Beneficiary shall release clerk of the lien and security interest created by court to ▇▇▇▇ this Deed of Trust upon the request of and at the sole cost and expense of Grantorinstrument satisfied or cancelled; provided, however, that any Grantor’s obligation of Grantor to indemnify and hold harmless Beneficiary Grantee pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and provisions hereof shall survive any such payment, performance payment or release. All capitalized terms not otherwise defined herein shall have This conveyance is intended to operate and is to be construed as a deed passing legal title to the meaning ascribed Property to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof Grantee and the terms is made under those provisions of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law existing laws of the State of TexasGeorgia relating to deeds to secure debt (including, e.g. O.C.G.A. § 44-41-60), and not as a mortgage. The Grantee shall have the terms remedy of this Deed non-judicial foreclosure under power of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict sale as provided under Georgia law subject to the occurrence of an Event of Default. All references to a “lien” on the Property shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect refer to the Liabilities so as granting of a security title by Grantor to make the aggregate principal balance of the Liabilities equal Grantee subject to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:reconveyance.
Appears in 1 contract
TO HAVE AND TO HOLD. the above granted and conveyed described Mortgaged Property unto and to the proper use and benefit of Trustee, its Mortgagee and the successors and assigns, in trust, assigns of Mortgagee forever, to secure the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, if Grantor Mortgagor shall well and truly perform and pay to Beneficiary Mortgagee the Liabilities Indebtedness at the time and in the manner provided in the Credit Agreement, Note and this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents Mortgage and shall well and truly abide by and comply with each and every covenant and condition set forth herein herein, in the Note and in the Credit Agreement and the Other other Loan Documents, these presents and the estate hereby granted shall cease, terminate and be void void. AND, Mortgagor does for itself, its successors, and Beneficiary shall release assigns, covenant with Mortgagee, its successors and assigns, that at and until the lien ensealing of these presents, it is well seized of the Mortgaged Property as a good indefeasible estate and security interest created it has good right to bargain, sell, and convey the same in manner and form as above written, and that the same are free from all encumbrances whatsoever, except the Permitted Encumbrances. AND FURTHERMORE, Mortgagor does by this Deed of Trust these presents bind itself and its successors and assigns forever to WARRANT AND DEFEND the above granted and bargained Mortgaged Property to Mortgagee, its successors and assigns, against all claims and demands whatsoever, except as aforesaid. AND PROVIDED, FURTHER, HOWEVER, these presents are upon the request of express condition, if Mortgagor shall well and truly pay to Mortgagee the Indebtedness at the sole cost time and expense of Grantor; providedin the manner provided in the Note and this Mortgage and shall well and truly abide by and comply with each and every covenant and condition set forth herein, however, that any obligation of Grantor to indemnify in the Note and hold harmless Beneficiary pursuant to in the Credit Agreement, this Deed of Trust and/or the Other other Loan Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof these presents and the terms of the Tranche A Security Agreementestate hereby granted shall cease, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor terminate and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:void.
Appears in 1 contract
Sources: Mortgage, Assignment of Leases and Rents and Security Agreement (GTJ REIT, Inc.)
TO HAVE AND TO HOLD. the above granted and Assets conveyed Property unto and hereby to the proper use and benefit of TrusteeBuyer, its successors and assigns, and, subject to the terms and conditions of the Purchase Agreement, Seller does hereby bind itself and its successors and assigns to convey good and valid title in trustand to the Assets to Buyer and its successors and assigns against every person lawfully making claim thereto, foreverby, through or under Seller, and Seller does hereby quitclaim, remise and release to Buyer each and every other right, title and interest of Seller in and to the Assets, free and clear of all Liens, other than Permitted Liens. Seller shall execute and deliver, or cause to be executed and delivered, from time to time hereafter, upon request, such further documents and instruments and shall do and perform such further acts as may be reasonably necessary to give full effect to the intent of this General B▇▇▇ of Sale. The provisions of this General Bill of Sale are subject, in all respects, to secure the payment terms and performance conditions of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment Purchase Agreement and performance to Beneficiary all of the Liabilities at representations and warranties, covenants and agreements contained therein, all of which shall survive the time execution and in the manner provided for its payment in the Credit Agreement and in delivery of this Deed General Bill of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner Sale as provided in the Credit Purchase Agreement. Except as otherwise expressly stated in the Purchase Agreement, the Seller makes no warranties or representations with respect to the Assets, the Buyer accepts the Assets AS IS, WHERE IS, in its present condition, including all defects and with all faults, and there are no warranties of merchantability or of fitness for a particular purpose with respect to the Assets. In the event of any conflict between this Deed General Bill of Trust Sale and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Purchase Agreement, the terms of the Tranche A Security Purchase Agreement shall controlgovern. This General B▇▇▇ of Sale may be executed by original, except that facsimile or electronic "PDF" signature, each of which shall be deemed an original signature and shall be sufficient for the execution hereof. This General B▇▇▇ of Sale shall be construed in accordance with respect to and governed by the remedies of a Trustee under the law laws of the State of TexasDelaware, the terms without regard to conflicts of this Deed of Trust shall governlaw principles; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined except in the Credit Agreement) event Korean law precludes application of Delaware law and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”in which case Korean law shall apply. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:IF " DOCVARIABLE "SWDocIDLocation" Error! No document variable supplied." = "1" " DOCPROPERTY "SWDocID" DM_DE 16067618-12.098505.0013" "" IF " DOCVARIABLE "SWDocIDLocation" Error! No document variable supplied." = "1" " DOCPROPERTY "SWDocID" DM_DE 16067618-12.098505.0013" ""
Appears in 1 contract
Sources: Equity Restructuring Agreement (Strattec Security Corp)
TO HAVE AND TO HOLD. the above Premises and other property, privileges, rights, interests and franchises hereby granted and conveyed Property or mortgaged, or intended so to be, unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, assigns forever, to secure the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. ; PROVIDED, HOWEVER, and these presents are upon the express condition thatcondition, that if Grantor Mortgagor shall well fully and truly perform and finally pay or cause to Beneficiary be paid all of the Liabilities Obligations on the abovementioned Loan Documents, at the time times and in the manner provided in the Credit Agreement, this Deed of Trust therein and the Other Documentsherein provided, and shall well keep, perform and truly perform observe all and singular the Liabilities as set forth covenants, agreements and provisions in the Credit Agreement, this Deed of Trust and the Other abovementioned Loan Documents and shall well in this Mortgage expressed to be kept, performed and truly abide observed by and comply with each and every covenant and condition set forth herein and in or on the Credit Agreement and the Other Documentspart of Mortgagor, these presents then this Mortgage and the estate and rights hereby granted shall cease, terminate determine and be void but otherwise shall be and Beneficiary shall release the lien remain in full force and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or releaseeffect. All capitalized terms used herein not otherwise defined herein shall have the meaning ascribed meanings assigned to them in the Tranche A Security Agreement. To the extent of any inconsistency between the such terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is MORTGAGOR'S LIABILITY UNDER THE CREDIT AGREEMENT FOR THE OBLIGATIONS SHALL NOT EXCEED THE PRINCIPAL AMOUNT OF $92,600,000; the maximum principal amount260,000,000 THEREOF, including present and future LiabilitiesPLUS, which may be secured hereby at any one time is $92,600,000FROM AND AFTER THE DEMAND FOR PAYMENT THEREUNDER, plus interestINTEREST THEREON AT THE HIGHEST RATE THEN APPLICABLE TO THE INDEBTEDNESS OF BORROWER TO MORTGAGEE SET FORTH IN THE CREDIT AGREEMENT, plus prepayment premiumPLUS ANY AND ALL COSTS, if anyEXPENSES AND CHARGES OF COLLECTION THEREUNDER (INCLUDING, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of TrustBUT NOT LIMITED TO, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”ATTORNEYS' FEES AND LEGAL EXPENSES). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Credit Agreement (Mediq Inc)
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreementfull, and (ii) each and every representation, warranty, agreement and covenant of this Deed of Trust Mortgage and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust Indenture and the Other Documents is complied with and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documentsabided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasIllinois, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit AgreementIndenture) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively hereinafter, collectively, referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,00070,000,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,00070,000,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement Indenture or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement Indenture or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement Indenture (the “Secured Amount”). For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Styrochem U S LTD)
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreementfull, and (ii) each and every representation, warranty, agreement and covenant of this Deed of Trust Mortgage and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust Indenture and the Other Documents is complied with and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documentsabided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasNew Jersey, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit AgreementIndenture) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,00070,000,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,00070,000,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement Indenture or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement Indenture or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement Indenture (the “Secured Amount”). For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Styrochem U S LTD)
TO HAVE AND TO HOLD. the above above-granted and conveyed described Mortgaged Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trustfee simple, forever. AND Mortgagor hereby represents, to secure the payment warrants and performance covenants with Mortgagee that Mortgagor is indefeasibly seized of the Liabilities. IN TRUSTMortgaged Property in fee simple; that Mortgagor has full power and lawful right to convey the same in fee simple as aforesaid; that it shall be lawful for Mortgagee at all times peaceably and quietly to enter upon, WITH THE POWER OF SALEhold, to secure payment accompany and performance to Beneficiary enjoy the Mortgaged Property and every part thereof in accordance with the terms of this Mortgage, that the Mortgaged Property is free from all liens and encumbrances; that all property, fixtures, appliances, machinery, furniture, equipment and other personal property described herein will be fully paid for and free from all liens, encumbrances, title retaining contracts and security interests when delivered and/or installed upon the Mortgaged Property other than the lien of this Mortgage; that Mortgagor will perform and promptly fulfill all of the Liabilities at covenants contained in superior mortgages encumbering the time Mortgaged Property, if any; that Mortgagor will make such further assurances to prove the fee simple title to all and singular the Mortgaged Property in Mortgagee and to prove the lien and priority of this Mortgage, as may be reasonably required, and that Mortgagor does hereby and will forever fully warrant and defend the lien and priority of this Mortgage and the title to the Mortgaged Property and every part thereof against the lawful claims and demands of all persons whomsoever, subject only to the matters set forth in the manner provided for its payment in the Credit Agreement title insurance policy insuring this Mortgage. PROVIDED ALWAYS, and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatthat if Mortgagor or the successors or assigns of Mortgagor shall pay unto Mortgagee, if Grantor shall well and truly perform and pay to Beneficiary its successors or assigns, the Liabilities at the time and sums of money mentioned in the manner provided in the Credit Agreement, this Deed of Trust Note and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Loan Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or thereof, which Note has a maturity date of thirty-six (36) months after the Credit date of this Mortgage, unless extended pursuant to the terms of the Loan Agreement or by modification hereto; AND any renewals or extensions thereof in whatever form, and the interest thereon as it shall become due, according to the true intent and meaning thereof, together with all advances hereunder, cost, charges and expenses, including a reasonable attorney’s fee, which Mortgagee may incur or be put to in collecting the same by foreclosure or otherwise; AND shall duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every of the Other Documents to protect stipulations, agreements, conditions and covenants of the security Note, the Loan Agreement and of this Deed of TrustMortgage; THEN this Mortgage and the estate hereby created shall cease and be NULL AND VOID and this instrument shall be released by Mortgagee, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in cost and expense of Mortgagor. MORTGAGOR COVENANTS AND AGREES to and with Mortgagee that until the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities indebtedness and obligations secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last hereby is fully repaid and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as followsperformed:
Appears in 1 contract
Sources: Mortgage and Security Agreement (Ault Alliance, Inc.)
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsfull, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with (ii) each and every representation, warranty, agreement and covenant of this Mortgage and condition set forth herein and in the Credit Agreement and the Other DocumentsDocuments is complied with and abided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasLouisiana, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000190,000,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of TrustMortgage, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). Notwithstanding any other provision of this Mortgage, the maximum amount of the Secured Amount secured hereby shall be limited to $190,000,000.00. For purposes of this Deed of TrustMortgage, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust Mortgage shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust Mortgage does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Multiple Indebtedness Mortgage (Radnor Holdings Corp)
TO HAVE AND TO HOLD. the above granted and conveyed Secured Property unto and to the proper use and benefit of Trustee, Lender and its successors and assigns, in trust, fee simple forever, and Borrower covenants that it is lawfully seized and possessed of the Secured Property in fee and has good title and right to convey the same. Notwithstanding the defined term used to describe this instrument, the conveyance herein is intended to and shall constitute and be construed as a deed passing title to the Secured Property to Lender, and is made under those portions of the existing laws of the State of Georgia (O.C.G.A. Section 44-14-60 et. seq.) relating to conveyances and deeds to secure the payment debt, and performance of the Liabilities. IN TRUSTnot as a mortgage; provided, WITH THE POWER OF SALEnevertheless, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in that this Deed of Trust. PROVIDED, HOWEVER, these presents are is made upon the express condition that, that if Grantor Borrower shall well and truly perform and pay to Beneficiary Lender as and when due and payable the Liabilities at principal of and interest on the time Note and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsall other Indebtedness, and shall well also keep and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth agreement of Borrower herein contained, then, this Deed and the estate, right and interest of Lender created hereby, shall be released by Lender at Borrower’s expense. Borrower represents, warrants and covenants to and with Lender that it is lawfully seized of the Land in fee simple and has good right and full power and authority under all applicable provisions of law and under its organizational documents to execute this Deed and the Loan Documents and to grant a deed to secure debt for the Secured Property; that the Secured Property is free from all liens, security interests and encumbrances except those listed as exceptions to title in the Credit Agreement policy of loan title insurance issued to Lender and insuring the Other Documents, these presents lien of this Deed (the “Permitted Encumbrances”); that Borrower will warrant and defend the estate hereby granted shall cease, terminate title to the Secured Property and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms priority of this Deed against all claims and demands of Trust shall governall persons whomsoever, whether now existing or hereafter arising, except the Permitted Encumbrances; providedand that all buildings and improvements now or hereafter located on the Land are, however, that Grantor and Trustee expressly agree that no conflict shall or will be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with located entirely within the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any boundaries of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”Land. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Borrower further covenants and agrees with and represents to Trustee as follows:
Appears in 1 contract
Sources: Deed to Secure Debt and Security Agreement (Cb Richard Ellis Realty Trust)
TO HAVE AND TO HOLD. the above granted and conveyed Mortgaged Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, assigns forever, together with all right, title and interest of Mortgagor in and to secure all extensions, improvements, betterments, renewals, substitutes and replacements of, and all additions and appurtenances to the payment Mortgaged Property hereafter acquired by, or released to, Mortgagor or constructed, assembled or placed by Mortgagor on the Real Property, and all conversions of the security constituted thereby, immediately upon such acquisition, release, construction, assembling, placement or conversion, as the case may be, and in each such case, without any further mortgage, pledge, conveyance, assignment or other act by Mortgagor, shall become subject to the lien of this Mortgage and security agreement as fully and completely, and with the same effect, as though now owned by Mortgagor and specifically described herein. Notwithstanding the foregoing, Mortgagor shall, at its own cost, make, execute, acknowledge, deliver and record any and all such further acts, deeds, conveyances, mortgages, notices of assignment, transfers, assurances and other documents as Mortgagee shall from time to time reasonably require for better assuring conveying, assigning, transferring and confirming unto Mortgagee of the Mortgaged Property and the other rights hereby conveyed or assigned or intended now or hereafter so to be, or which Mortgagor may be or may hereafter become bound to convey or assign for carrying out the intention of facilitating the performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; providedMortgage. In addition, howeverMortgagor hereby agrees that this Mortgage is a security agreement under the Pennsylvania Uniform Commercial Code and creates in Mortgagee a security interest thereunder in, that Grantor among other things, all Equipment, General Intangibles, Proceeds, Leases, Rents, Permits, Instruments and Trustee expressly agree that no conflict shall be deemed Securities. Mortgagor shall, at its own cost and expense, execute, deliver and file any financing statements, continuation certificates and other documents Mortgagee may reasonably require from time to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined time to perfect and maintain in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any favor of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the Mortgagee a security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:Uniform Commercial Code in such Equipment, General Intangibles, Proceeds, Leases, Rents, Permits,
Appears in 1 contract
Sources: Open End Mortgage, Assignment of Rents, Leases and Security Agreement (Balanced Care Corp)
TO HAVE AND TO HOLD. all and singular, the above Collateral with all rights and privileges hereby transferred, pledged, assigned and/or granted and conveyed Property unto and or agreed or intended so to be, to the proper use Bondowner Representative and benefit of Trustee, its successors and assignsassigns forever; NEVERTHELESS, in trustupon the terms and conditions herein set forth for the equal and proportionate benefit, forever, to secure the payment security and performance protection of all present and future Owners of the Liabilities. IN TRUSTBonds Outstanding, WITH THE POWER OF SALEwithout preference, priority or distinction as to secure payment and performance to Beneficiary of the Liabilities at the time and participation in the manner provided for its payment in lien, benefit and protection of this Pledge Agreement of one Bond over or from the Credit Agreement and in this Deed of Trust. others, except as herein otherwise expressly provided; PROVIDED, HOWEVERNEVERTHELESS, and these presents are upon the express condition thatcondition, that if Grantor the Issuer or its successors or assigns shall well and truly perform and pay or cause to Beneficiary be paid the Liabilities at principal of such Bonds with interest, according to the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as provisions set forth in the Credit AgreementBonds, this Deed or shall provide for the payment or redemption of Trust such Bonds by depositing or causing to be deposited with the Bondowner Representative the entire amount of funds or securities requisite for payment or redemption thereof when and as authorized by the provisions of Article IX (it being understood that any payment with respect to the principal of or interest on Bonds made by the Borrower shall not be deemed payment or provision for the payment of the principal of or interest on Bonds, except Bonds purchased and canceled by the Bondowner Representative, all such uncancelled Bonds to remain Outstanding and the Other Documents principal of and interest thereon payable to the Owners thereof), and shall well and truly abide also pay or cause to be paid all other sums payable hereunder by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other DocumentsIssuer, then these presents and the estate and rights hereby granted shall cease, terminate and be void become void, and Beneficiary shall release thereupon the lien Bondowner Representative, on payment of its lawful charges and security interest created by this Deed disbursements then unpaid, on demand of Trust the Issuer and upon the request payment by the Issuer of and at the sole cost and expense of Grantor; providedexpenses thereof, howevershall duly execute, that any obligation of Grantor to indemnify acknowledge and hold harmless Beneficiary pursuant deliver to the Credit AgreementIssuer such instruments of satisfaction or release as may be necessary or proper to discharge this Pledge Agreement of record, this Deed of Trust and/or the Other Documentsand if necessary shall grant, reassign and deliver to the extent specified herein or therein to surviveIssuer all and singular the property, rights, privileges and interests by it hereby granted, conveyed and assigned, and all substitutes therefor, or any other obligation that is specifically agreed to survive such full repaymentpart thereof, performance and release and shall survive any such payment, performance not previously disposed of or release. All capitalized terms not released as herein provided; otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security this Pledge Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall governbe and remain in full force; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured AmountTHIS PLEDGE AGREEMENT FURTHER WITNESSETH, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:it is hereby
Appears in 1 contract
Sources: Bond Issuance and Pledge Agreement
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreementfull, and (ii) each and every representation, warranty, agreement and covenant of this Deed of Trust Mortgage and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust Indenture and the Other Documents is complied with and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documentsabided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasOhio, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit AgreementIndenture) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Styrochem U S LTD)
TO HAVE AND TO HOLD. the above granted and conveyed Mortgaged Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, to its own use forever in trustaccordance with the provisions hereof. PROVIDED ALWAYS, foreverthat if all the obligations secured hereby shall be paid in full, to secure the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and Company shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth contained herein and in the Credit Agreement and the Other DocumentsReimbursement Agreement, these presents then this Mortgage and the estate hereby granted shall cease, terminate and become void. Notwithstanding anything contained in this Mortgage or the Reimbursement Agreement to the contrary, the maximum amount of principal indebtedness secured by this Mortgage at the time of execution hereof or which under any contingency may become secured by this Mortgage at any time hereafter is Ten Million Dollars ($10,000,000) plus (a) taxes, charges or assessments which may be void and Beneficiary shall release imposed by law upon the Mortgaged Property (as hereinafter defined); (b) premiums on insurance policies covering the Mortgaged Property; (c) expenses incurred in upholding the lien of this Mortgage, including, but not limited to (i) the expenses of any litigation to prosecute or defend the rights and security interest lien created by this Deed Mortgage; (ii) any amount, cost or charges to which the Mortgagee becomes subrogated, upon payment, whether under recognized principles of Trust upon the request of law or equity, or under express statutory authority and (iii) interest at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to rate set forth in the Credit Agreement, this Deed of Trust and/or the Other PNC Loan Documents, to provided that (b), (c)(i) and (c)(ii) are advanced by Mortgagee as a result of an Event of Default by the extent specified herein or therein to surviveCompany. AND ▇▇▇▇▇▇▇▇▇ AND THE COMPANY hereby warrant, covenant and any other obligation agree as follows (provided that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent each of any inconsistency between the terms hereof Mortgagor and the terms of the Tranche A Security AgreementCompany warrants, the terms of the Tranche A Security Agreement shall control, except that covenants and agrees only with respect to the remedies warranties, covenants and agreements of a Trustee under the law each and not of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:other):
Appears in 1 contract
Sources: Mortgage, Security Agreement and Fixture Filing (V I Technologies Inc)
TO HAVE AND TO HOLD. all and singular, the above granted properties and conveyed Property the rights and privileges hereby conveyed, assigned and pledged by the Corporation or intended so to be, unto the Trustee and to the proper use and benefit of Trustee, its successors and assignsassigns forever; IN TRUST NEVERTHELESS, in trust, forever, to secure upon the payment terms and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. trusts herein set forth: PROVIDED, HOWEVERNEVERTHELESS, that these presents are upon the express condition that, that if Grantor the Corporation or its successors or assigns shall well and truly perform and pay or cause to Beneficiary be paid the Liabilities at principal of such Secured Obligations with interest, according to the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as provisions set forth in the Credit AgreementSecured Obligations, respectively and each of them or shall provide for the payment of (i) Bonds by depositing or causing to be deposited with the Trustee the entire amount of funds or securities requisite for payment thereof, when and as authorized by the provisions of Section 12.01 of this Deed Indenture and (ii) Subordinated Indebtedness in accordance with the provisions of Trust and the Other Documents Supplemental Indenture pursuant to which such Subordinated Indebtedness was issued, and shall well and truly abide also pay or cause to be paid all other sums payable hereunder by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other DocumentsCorporation, then these presents and the estate and rights hereby granted shall cease, terminate determine and be void become void, and Beneficiary shall release thereupon the lien Trustee, on payment of its lawful charges and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provideddisbursements then unpaid, howeveron PROVIDED FURTHER, NEVERTHELESS, that the Trust Estate shall not include any obligation moneys held in the Residual Fund, but shall include moneys held in the Capitalized Interest Account, and such moneys shall forever be free and clear of Grantor any right, title or interest therein, or claim or lien thereupon of the Trustee or the holders of Secured Obligations. IT IS HEREBY COVENANTED, DECLARED AND AGREED by and between the parties hereto that all Secured Obligations are to indemnify be issued, authenticated and hold harmless Beneficiary pursuant to the Credit Agreementdelivered, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and that all Matching Fund Receipts and Related Rights and any other obligation that is specifically agreed property or amounts pledged to survive such full repaymentthe payment of the Secured Obligations are to be held and applied, performance subject to the further covenants, conditions, releases, uses and release and shall survive any such paymenttrusts hereinafter set forth, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security AgreementCorporation, the terms of the Tranche A Security Agreement shall controlfor itself and its successors, except that with respect does hereby covenant and agree to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined Trustee and its respective successors in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee said trust as follows:
Appears in 1 contract
Sources: Master Trust Indenture
TO HAVE AND TO HOLD. the above foregoing Property and the rights hereby granted and conveyed Property unto and to for the proper use and benefit of the Trustee and the Trustee, its 's successors and assigns, assigns forever in trust, foreverfor the uses and purposes set forth, to secure the payment and performance possession of the Liabilities. IN TRUST, WITH THE POWER OF SALE, Property being hereby granted and conveyed to secure payment the Trustee; AND Mortgagor covenants and performance warrants with and to Beneficiary Mortgagee that Mortgagor is indefeasibly seized of the Liabilities at Property and has good right, full power, and lawful authority to convey and encumber all of the time same as aforesaid; that Mortgagor hereby fully warrants the title to the Property and in will defend the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust same and the Other Documentsvalidity and priority of the lien and encumbrance of this Mortgage against the lawful claims of all persons whomsoever; and Mortgagor further warrants that the Property is free and clear of all liens and encumbrances of any kind, nature or description, save and shall well except only (with respect to said Real Property, Improvements and truly perform the Liabilities as Appurtenances) for real property taxes for years subsequent to 1994 (which are not yet due and payable), those matters set forth in the Credit Agreementtitle insurance policy issued to Mortgagee insuring the second lien priority of this Mortgage, this Deed and those matters described in the surveys of Trust the Real Property prepared by Sterling Co. during March of 1994 and July of 1995, and certified to Mortgagee to the extent such matters are disclosed in the title insurance policy or, if not disclosed therein, insured over thereby (hereinafter referred to as the "Permitted Exceptions"); PROVIDED ALWAYS, however, that if ▇▇▇▇▇▇▇▇▇ shall pay unto Mortgagee the indebtedness evidenced by the Note, and, for and only during the period of time commencing with the date hereof and continuing up to and including September 5, 1998, the V:\106\10670\EDSO2.NTE indebtedness evidenced by the North Note and the Other Documents North First Note, and if ▇▇▇▇▇▇▇▇▇ shall well duly, promptly and truly abide by fully perform, discharge, execute, effect, complete and comply with and abide by each and every covenant one of the agreements, conditions and condition set forth herein covenants of the Note, this Mortgage, and in all other documents and instruments executed as further evidence of or as security for the Credit Agreement indebtedness secured hereby, and, for and only during the period of time commencing with the date hereof and continuing up to and including September 5, 1998, if ▇▇▇▇▇▇▇▇▇ shall duly, promptly and fully perform, discharge, execute, effect, complete and comply with and abide by each and every one of the agreements, conditions and covenants of the North Note, the North First Note, and all documents and instruments executed as further evidence of or as security for the indebtedness evidenced by the North Note and/or the North First Note, then this Mortgage and the Other Documents, these presents estates and the estate interests hereby granted and created shall cease, terminate and be void null and Beneficiary void, and shall be discharged of record by a proper deed of release furnished by the lien Mortgagee and security interest created by this Deed of Trust upon executed in recordable form, at the request of and at the sole cost and expense of Grantor▇▇▇▇▇▇▇▇▇, which expense ▇▇▇▇▇▇▇▇▇ agrees to pay; providedAND ▇▇▇▇▇▇▇▇▇, however, that any obligation for the benefit of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor Mortgagee and Trustee does hereby expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) covenant and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as followsagree:
Appears in 1 contract
Sources: South Second Mortgage Note (Jones Financial Companies L P)
TO HAVE AND TO HOLD. the above granted same unto the Secured Party and conveyed Property unto and to the proper use and benefit of Trustee, its successors and assigns, in trust, absolutely and forever, to secure as security as aforesaid; UPON CONDITION that if the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor Borrower shall well and truly pay to the Secured Party the principal amount of the Note, with interest and other charges, if any, according to its provisions and effect and shall discharge any and all obligations that now or hereafter may be or become owing, directly or indirectly, by the Borrower and Debtor to the Secured Party under the Loan Documents on any and every account, whether or not the same are matured, of which obligations the books of the Secured Party shall be prima facie evidence, and if the Borrower and Debtor shall fully and faithfully perform and pay observe all of the covenants, conditions and agreements to Beneficiary be performed and observed by the Liabilities at the time Debtor and Borrower in the manner provided in the Credit Loan Documents, including this Security Agreement, this Deed of Trust and the Other Documentsany and every other instrument or document secured hereby, and if the Debtor shall well and truly perform pay the Liabilities as set forth in cost of release, the Credit AgreementSecured Party will, this Deed upon request of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other DocumentsDebtor, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and Collateral from the security interest created by this Deed of Trust upon the request of Agreement and at the sole cost and expense of Grantor; providedthese presents shall be void, it being understood, however, that an affidavit, certificate, letter or statement of any obligation officer of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit AgreementSecured Party showing that any part of the indebtedness remains unpaid or any terms, this Deed of Trust and/or the Other Documentscovenants, to the extent specified herein or therein to surviveconditions, and any other obligation that is specifically agreed to survive such full repaymentagreements remain unperformed shall constitute conclusive evidence of the validity, performance effectiveness and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A continuing force of this Security Agreement. To the extent of any inconsistency between Subject to the terms hereof and hereof, until the terms happening of the Tranche A Security Agreement, the terms an "Event of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (Default" as defined in the Credit Loan Agreement) , the Debtor shall be entitled to use and to possess the Collateral. BUT, if any other instrument given "Event of Default" as defined in the Loan Agreement shall occur which is not timely cured or waived, then the Secured Party, without obligation to evidence do so and without releasing or further secure the payment and performance of waiving any of its rights, shall have the Liabilities are sometimes hereinafter collectively referred right, power and authority, without notice, presentment or demand to as declare the “Other Documents”. The present unpaid principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property Note and any other sums advanced in accordance indebtedness secured hereby, whether matured or not, together with the terms hereof or the Credit Agreement or any of the Other Documents interest thereon accrued and unpaid, to protect the security of this Deed of Trustbe immediately due and payable, the Credit Agreement or any of the Other Documents, plus and such indebtedness and interest on such disbursements shall thereupon become and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last immediately due and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amountpayable, and shall not bear interest until fully paid at the rate specified in the Note to be reduced by paid in the event of default, and the Secured Party may, at its option, without notice and irrespective of whether declaration of default is required to be delivered to any intervening repayments party named in the Loan Documents or other instrument or obligations securing the Note or secured hereunder or whether remedies under other security instruments have been exercised, exercise all right and remedies contained in the Loan Documents, including this Security Agreement, or any other security instruments and obligations and shall have all rights and remedies available to the Secured Party under the Uniform Commercial Code or other applicable laws. Without limiting the generality of the Liabilities. The parties acknowledge and agree that this Deed foregoing, upon the occurrence of Trust does an Event of Default which is not secure the Tranche B Loans as evidenced by the Tranche B Notes timely cured or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as followswaived:
Appears in 1 contract
Sources: Security Agreement (Cyanotech Corp)
TO HAVE AND TO HOLD. the above granted Premises, together with all of the rights, privileges and conveyed Property appurtenances thereunto belonging, and every part thereof unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, forever. AND Mortgagor covenants that Mortgagor is lawfully seized and possessed of a good and marketable title and has good right to convey the same, that the same are unencumbered (except to the extent permitted under the Promissory Note), and that Mortgagor does warrant and will forever defend the title thereto against the claims of all persons whomsoever. PROVIDED, HOWEVER, that if the Mortgagor shall pay or cause to be paid and shall perform the Secured Obligations in trustfull, foreverand no other Secured Obligations shall then be outstanding, and the Mortgagor shall perform all covenants contained herein in a timely manner, then this Mortgage and the estate created hereby shall cease, determine, and be utterly null and void; otherwise this Mortgage and said estate shall be and remain in full force and effect and if an Event of Default occurs, Mortgagee is authorized to foreclose and sell the Premises under power of sale or by judicial proceeding according to applicable law and as provided herein. THIS INSTRUMENT IS A MORTGAGE pursuant to the laws of the State of Indiana governing mortgages, and is also a security agreement granting a present and continuing security interest and security title in the portion of the Premises constituting personal property or fixtures, and a financing statement filed as a fixture filing, pursuant to the Uniform Commercial Code of the State of Indiana. THIS MORTGAGE is made and intended to secure the payment and performance of the Liabilities. IN TRUSTfollowing (collectively, WITH THE POWER OF SALEthe “Secured Obligations”): (i) all obligations, whether for principal, interest (including without limitation interest which but for the filing of a petition in bankruptcy would accrue on the obligations), fees and other amounts, and whether such obligations are from time to secure payment time reduced and performance to Beneficiary thereafter increased or entirely extinguished and thereafter reincurred under the Promissory Note; (ii) any and all renewal or renewals, extension or extensions, modification or modifications of the Liabilities at Promissory Note, and substitution or substitutions for the time and Promissory Note, either in the manner provided for its payment whole or in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatpart; (iii) all advances, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreementany, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide made by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary Mortgagee pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed Mortgage; (iv) all expenses incident to the collection of Trust shall governthe indebtedness secured by this Mortgage; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with (v) all duties and obligations of Mortgagor under this Mortgage or the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A “Promissory Note and Security Agreement, the other Collateral Documents ” (as defined in the Credit Asset Purchase Agreement) , dated as of March 4, 2013, by and any other instrument given to evidence or further secure the payment between Mortgagor and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”Mortgagee). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor hereby further covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (AMP Holding Inc.)
TO HAVE AND TO HOLD. the above granted Assigned Properties unto Assignee, and conveyed Property unto A▇▇▇▇▇▇▇'s successors, and to the proper use assigns forever, and benefit of TrusteeAssignor does hereby bind Assignor, its and A▇▇▇▇▇▇▇'s successors and assigns, in trustto warrant and forever defend all and singular the Assigned Properties unto Assignee, foreverand Assignee's successors and assigns, against every person whomsoever lawfully claiming or to secure claim the payment and performance same, or any part thereof, by, through or under Assignor, but not otherwise. Assignee hereby assumes all of the Liabilitiesobligations of Assignor arising under the Assigned Leases Contracts, Licenses and Permits and Warranties and Guaranties from and after the Closing Date (but not those required to be performed prior thereto). IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate Assignee hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor agrees to indemnify and hold harmless Beneficiary Assignor from and against any and all loss, liability, cost, claim, damage or expense incurred to enforce any rights and/or secure any remedies under this Assignment resulting by reason of the failure of Assignee to perform its obligations arising under the Assigned Properties from and after the Closing Date and/or Assignee's failure to perform its obligations under this Assignment. Assignor hereby agrees to indemnify and hold harmless Assignee from and against any and all loss, liability, cost, claim, damage or expense incurred to enforce any rights and/or secure any remedies under this Assignment resulting by reason of the failure of Assignor to perform its obligations arising under the Assigned Properties prior to Closing Date and/or Assignor's failure to perform its obligations under this Assignment. Assignor will cooperate with Assignee to secure performance by any warrantor or guarantor for any work Assignee believes should be performed pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”Warranties and Guaranties. The present principal amount foregoing indemnification shall survive for a period of two (2) years and one (1) day after the date hereof and shall thereafter expire. EXCEPT AS OTHERWISE PROVIDED HEREIN OR IN THE AGREEMENT, ASSIGNEE TAKES THE ASSIGNED PROPERTIES "AS IS", "WHERE IS" AND WITH "ALL FAULTS". EXCEPT AS OTHERWISE SET FORTH HEREIN OR IN THE AGREEMENT, ASSIGNOR HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS AS TO THE PHYSICAL CONDITION, OPERATION OR ANY OTHER MATTER AFFECTING OR RELATED TO THE PERSONAL PROPERTY AND/ OR THE ASSIGNED PROPERTIES. All of the Liabilities secured hereby is $92,600,000; covenants, terms and conditions set forth herein shall be binding upon and shall inure to the maximum principal amountbenefit of the parties hereto and their respective successors and assigns. This Assignment may only be modified, including present altered, amended, or terminated by the written agreement of Assignor and future LiabilitiesAssignee. If any term, covenant or condition of this Assignment shall be held to be invalid, illegal or unenforceable in any respect, this Assignment shall be construed without such provision. This Assignment shall be governed by and construed under the laws of the state in which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any is located without regard to principles of the Other Documents to protect the security conflicts of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:law.
Appears in 1 contract
Sources: Contribution Agreement (Bluerock Homes Trust, Inc.)
TO HAVE AND TO HOLD. the above above-granted and conveyed described Mortgaged Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trustfee simple, forever. AND Mortgagor hereby represents, to secure the payment warrants and performance covenants with Mortgagee that Mortgagor is indefeasibly seized of the Liabilities. IN TRUSTMortgaged Property in fee simple; that Mortgagor has full power and lawful right to convey the same in fee simple as aforesaid; that it shall be lawful for Mortgagee at all times peaceably and quietly to enter upon, WITH THE POWER OF SALEhold, to secure payment accompany and performance to Beneficiary enjoy the Mortgaged Property and every part thereof in accordance with the terms of this Mortgage, that the Mortgaged Property is free from all liens and encumbrances; that all property, fixtures, appliances, machinery, furniture, equipment and other personal property described herein will be fully paid for and free from all liens, encumbrances, title retaining contracts and security interests when delivered and/or installed upon the Mortgaged Property other than the lien of this Mortgage; that Mortgagor will perform and promptly fulfill all of the Liabilities at covenants contained in superior mortgages encumbering the time Property, if any; that Mortgagor will make such further assurances to prove the fee simple title to all and singular the Mortgaged Property in Mortgagee and to prove the lien and priority of this Mortgage, as may be reasonably required, and that Mortgagor does hereby and will forever fully warrant and defend the lien and priority of this Mortgage and the title to the Mortgaged Property and every part thereof against the lawful claims and demands of all persons whomsoever, subject only to the matters set forth in the manner provided for its payment in the Credit Agreement title insurance policy insuring this Mortgage. PROVIDED ALWAYS, and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatthat if Mortgagor or the successors or assigns of Mortgagor shall pay unto Mortgagee, if Grantor shall well and truly perform and pay to Beneficiary its successors or assigns, the Liabilities at the time and sums of money mentioned in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities Note secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or thereof, which Note has a maturity date of eighteen (18) months after the Credit date of this Mortgage, unless extended pursuant to the terms of the Loan Agreement or by modification hereto; AND any renewals or extensions thereof in whatever form, and the interest thereon as it shall become due, according to the true intent and meaning thereof, together with all advances hereunder, cost, charges and expenses, including a reasonable attorney’s fee, which Mortgagee may incur or be put to in collecting the same by foreclosure or otherwise; AND shall duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every of the Other Documents to protect stipulations, agreements, conditions and covenants of the security Note and of this Deed of TrustMortgage; THEN this Mortgage and the estate hereby created shall cease and be NULL AND VOID and this instrument shall be released by Mortgagee, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in cost and expense of Mortgagor. MORTGAGOR COVENANTS AND AGREES to and with Mortgagee that until the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities indebtedness and obligations secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last hereby is fully repaid and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as followsperformed:
Appears in 1 contract
Sources: Mortgage and Security Agreement (BitNile Holdings, Inc.)
TO HAVE AND TO HOLD. the above granted and conveyed Property unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, forever, to secure the payment hereby expressly waiving and performance releasing any and all right, benefit, privilege, advantage or exemption under and by virtue of any and all statutes and laws of the LiabilitiesState or other jurisdiction in which the Property is located providing for the exemption of homesteads from sale on execution or otherwise. IN TRUSTPROVIDED ALWAYS, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. PROVIDED, HOWEVER, these presents are upon the express condition thatcondition, that if Grantor shall well and truly perform and pay to Beneficiary (i) all the Liabilities at the time are paid and performed in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documentsfull, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with (ii) each and every representation, warranty, agreement and covenant of this Mortgage and condition set forth herein and in the Credit Agreement and the Other DocumentsDocuments is complied with and abided by, these presents then this Mortgage and the estate hereby granted created shall cease, terminate cease and be null and void and Beneficiary Mortgagee shall release the lien and security interest created by of this Deed of Trust upon Mortgage at the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive Mortgagor. Mortgagor shall pay Mortgagee’s out-of-pocket costs incurred in connection with such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee mortgagee under the law of the State of TexasOhio, the terms of this Deed of Trust Mortgage shall govern; provided, however, that Grantor Mortgagor and Trustee Mortgagee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of TrustMortgage, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust Mortgage does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
TO HAVE AND TO HOLD. the above granted Collateral unto the Mortgagee and conveyed Property unto and to the proper use and benefit of Trustee, its successors and assignsassigns forever for the purpose of securing performance of each agreement, covenant and warranty of the Company contained in trustthe Agreement, foreverthe Corporate Guaranty, this Mortgage, the Security Documents and payment of the Indebtedness Hereby Secured. It is understood and agreed that this Mortgage is to secure the payment and performance obligation of the Liabilities. IN TRUSTCompany to repay, WITH THE POWER OF SALEwithout preference or priority, all sums due or to secure payment become due in respect to the indebtedness pursuant to the Agreement and performance the Corporate Guaranty, including those sums heretofore advanced, those of even date herewith and those to Beneficiary of the Liabilities at the time and be earned or advanced in the manner provided for its payment future as specified in the Credit said Agreement and in this Deed of Trustthe Corporate Guaranty. PROVIDEDTHIS CONVEYANCE SHALL ALSO STAND AS SECURITY FOR ALL FUTURE ADVANCES AND ANY ADDITIONAL INDEBTEDNESS OF THE COMPANY TO MORTGAGEE, HOWEVERWHETHER IT BE INCURRED FOR ANY BUSINESS OR NON-BUSINESS PURPOSE THAT WAS RELATED, WHOLLY UNRELATED, SIMILAR OR DISSIMILAR TO THE PURPOSE OF THE ORIGINAL OBLIGATIONS AND INDEBTEDNESS EVIDENCED BY THE AGREEMENT AND/OR THE CORPORATE GUARANTY. PROVIDED NEVERTHELESS, and these presents are upon the express condition thatthat if the Company performs the covenants herein contained and the Mortgagee is paid the full amount of all indebtedness and all other sums due or payable hereunder, if Grantor shall well under the Agreement, the Corporate Guaranty or under the Security Documents and truly perform all other Indebtedness Hereby Secured, the estate, right and pay to Beneficiary interest of the Liabilities at the time and Mortgagee in the manner provided in the Credit Agreement, this Deed of Trust property hereby conveyed and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and a first perfected security interest created in shall cease and this Mortgage shall become null and void, but otherwise to remain in full force and effect. It is agreed and understood by this Deed the parties hereto that:
1. Any part of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified security herein or therein to survivedescribed, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them security described in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security Agreement, the terms Corporate Guaranty, Security Documents or any other mortgage or other instrument now or hereafter given to secure the Indebtedness Hereby Secured, may be released by or at the direction of the Tranche A Security Agreement shall control, except that with respect to Mortgagee without affecting the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amount, including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance Lien hereof on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of Trust, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes remainder or the obligations of the Guarantors Company on and in respect of the Indebtedness Hereby Secured and any person acquiring any direct or indirect interest in the security herein described or in any security described in the Agreement, the Corporate Guaranty or Security Documents or any other mortgage, or other instrument now or hereafter given to secure the Indebtedness Hereby Secured shall take the same subject to all of the provisions hereof.
2. The Company for itself and all who may claim through or under the Credit Agreement with respect it waives to the Tranche B Loans. AND Grantor covenants extent permitted by law any and agrees with all right to have the property and represents estates comprising the Collateral or any other property of the Company constituting security for the Indebtedness Hereby Secured marshalled upon any foreclosure of the Lien hereof, or to Trustee as follows:have the Collateral hereunder and the property covered by any other mortgage or deed of trust securing the Indebtedness Hereby Secured marshalled upon any foreclosure of any
Appears in 1 contract
Sources: Mortgage and Security Agreement (Striker Industries Inc)
TO HAVE AND TO HOLD. the above said hereditaments and Subject Premises granted above, or intended to be so granted, with the appurtenances, unto the Mortgagee to and conveyed Property unto and to for the only proper use and benefit behoof of Trustee, its successors and assigns, in trustthe Mortgagee, forever. AND the Mortgagor does hereby covenant with Mortgagee that Mortgagor is lawfully seized of an indefeasible estate in fee simple in the Subject Premises; that Mortgagor is the sole legal and beneficial owner thereof and does not hold as straw party for or nominee of any other person, firm or corporation; that Mortgagor has good right and lawful authority to secure sell or mortgage the same; and that Mortgagor's title to the Subject Premises is free and clear of all liens and encumbrances and shall defend same against all willful claims whatsoever. This Mortgage secures repayment of moneys due under the Notes and the other Relevant Documents. The Notes is also secured by any and all guaranty agreements heretofore or hereafter executed and delivered which assure payment and performance as therein specified of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary obligations of the Liabilities at Mortgagor therein specified and such other monies as may be due from Mortgagor to Mortgagee now or hereafter as further set out below (collectively, the time and "Guaranty Agreement"). Each party to a Guaranty Agreement is hereinafter referred to as a "Guarantor". The original stated amount of the obligations secured hereby including the Notes is the total of the sums aforementioned including sums due or to become due in the manner provided for its payment future from Mortgagor to Mortgagee in connection with any of the Credit Agreement and in this Deed of Trust. PROVIDEDforegoing, HOWEVERprovided, these presents are upon however the express condition that, if Grantor shall well and truly perform and pay to Beneficiary the Liabilities at the time and in the manner provided in the Credit Agreement, this Deed of Trust and the Other Documents, and shall well and truly perform the Liabilities as set forth in the Credit Agreement, this Deed of Trust and the Other Documents and shall well and truly abide by and comply with each and every covenant and condition dollar amount set forth herein is solely for the purposes of this Mortgage and shall not be construed as limiting or modifying the Guaranty Agreement in any way. This Mortgage contemplates future advances to Mortgagor and shall secure repayment of all monies due from Mortgagor to Mortgagee now or in the Credit Agreement and the Other Documents, these presents and the estate hereby granted shall cease, terminate and be void and Beneficiary shall release the lien and security interest created by future whether due under this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or release. All capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Tranche A Security Agreement. To the extent of any inconsistency between the terms hereof and the terms of the Tranche A Security AgreementMortgage, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of TexasNotes, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents Loan Agreement (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is $92,600,000; the maximum principal amountherein), including present and future Liabilities, which may be secured hereby at any one time is $92,600,000, plus interest, plus prepayment premium, if any, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents other Relevant Documents. In addition to protect the security principal under the Notes, this Mortgage shall secure payment of interest under the Notes on the unpaid principal balance thereof (including interest at the Taxable Rate as set out in the Notes if this Deed of Trust, the Credit Agreement or any Mortgage secures repayment of the Other Documents, plus Loans the interest on such disbursements and advances at which is exempt from federal taxation) from the rates set forth in the Credit Agreement (the “Secured Amount”). For purposes of this Deed of Trust, so long as the aggregate principal balance date of the Liabilities outstanding equals or exceeds the Secured Amount, the amount Notes until paid. TAX IDENTIFICATION NUMBER. The tax identification number of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor covenants and agrees with and represents to Trustee as follows:Mortgagor is ▇▇-▇▇▇▇▇▇▇.
Appears in 1 contract
Sources: Mortgage (Usa Detergents Inc)
TO HAVE AND TO HOLD. the above Premises and other property, privileges, rights, interests and franchises hereby granted and conveyed Property or mortgaged, or intended so to be, unto and to the proper use and benefit of TrusteeMortgagee, its successors and assigns, in trust, assigns forever, to secure the payment and performance of the Liabilities. IN TRUST, WITH THE POWER OF SALE, to secure payment and performance to Beneficiary of the Liabilities at the time and in the manner provided for its payment in the Credit Agreement and in this Deed of Trust. ; PROVIDED, HOWEVER, and these presents are upon the express condition thatcondition, that if Grantor Mortgagor shall well fully and truly perform and finally pay or cause to Beneficiary be paid all of the Liabilities Obligations on the abovementioned Loan Documents, at the time times and in the manner provided in the Credit Agreement, this Deed of Trust therein and the Other Documentsherein provided, and shall well keep, perform and truly perform observe all and singular the Liabilities as set forth covenants, agreements and provisions in the Credit Agreement, this Deed of Trust and the Other abovementioned Loan Documents and shall well in this Mortgage expressed to be kept, performed and truly abide observed by and comply with each and every covenant and condition set forth herein and in or on the Credit Agreement and the Other Documentspart of Mortgagor, these presents then this Mortgage and the estate and rights hereby granted shall cease, terminate determine and be void but otherwise shall be and Beneficiary shall release the lien remain in full force and security interest created by this Deed of Trust upon the request of and at the sole cost and expense of Grantor; provided, however, that any obligation of Grantor to indemnify and hold harmless Beneficiary pursuant to the Credit Agreement, this Deed of Trust and/or the Other Documents, to the extent specified herein or therein to survive, and any other obligation that is specifically agreed to survive such full repayment, performance and release and shall survive any such payment, performance or releaseeffect. All capitalized terms used herein not otherwise defined herein shall have the meaning ascribed meanings assigned to them in the Tranche A Security Agreement. To the extent of any inconsistency between the such terms hereof and the terms of the Tranche A Security Agreement, the terms of the Tranche A Security Agreement shall control, except that with respect to the remedies of a Trustee under the law of the State of Texas, the terms of this Deed of Trust shall govern; provided, however, that Grantor and Trustee expressly agree that no conflict shall be deemed to exist where one document imposes a stricter obligation than another, so long as compliance with the stricter obligation does not make compliance with the less strict obligation impossible. This Deed of Trust, the Tranche A Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and any other instrument given to evidence or further secure the payment and performance of any of the Liabilities are sometimes hereinafter collectively referred to as the “Other Documents”. The present principal amount of the Liabilities secured hereby is MORTGAGOR'S LIABILITY UNDER THE CREDIT AGREEMENT FOR THE OBLIGATIONS SHALL NOT EXCEED THE PRINCIPAL AMOUNT OF $92,600,000; the maximum principal amount275,000,000 THEREOF, including present and future LiabilitiesPLUS, which may be secured hereby at any one time is $92,600,000FROM AND AFTER THE DEMAND FOR PAYMENT THEREUNDER, plus interestINTEREST THEREON AT THE HIGHEST RATE THEN APPLICABLE TO THE INDEBTEDNESS OF BORROWER TO MORTGAGEE SET FORTH IN THE CREDIT AGREEMENT, plus prepayment premiumPLUS ANY AND ALL COSTS, if anyEXPENSES AND CHARGES OF COLLECTION THEREUNDER (INCLUDING, plus any disbursements and taxes and insurance on the Property and any other sums advanced in accordance with the terms hereof or the Credit Agreement or any of the Other Documents to protect the security of this Deed of TrustBUT NOT LIMITED TO, the Credit Agreement or any of the Other Documents, plus interest on such disbursements and advances at the rates set forth in the Credit Agreement (the “Secured Amount”ATTORNEYS' FEES AND LEGAL EXPENSES). For purposes of this Deed of Trust, so long as the aggregate principal balance of the Liabilities outstanding equals or exceeds the Secured Amount, the amount of the Liabilities secured by this Deed of Trust shall at all times equal only the Secured Amount. The Secured Amount shall be reduced only by the last and final sums that are repaid with respect to the Liabilities so as to make the aggregate principal balance of the Liabilities equal to an amount less than the Secured Amount, and shall not be reduced by any intervening repayments of the Liabilities. The parties acknowledge and agree that this Deed of Trust does not secure the Tranche B Loans as evidenced by the Tranche B Notes or the obligations of the Guarantors under the Credit Agreement with respect to the Tranche B Loans. AND Grantor Mortgagor covenants and agrees with and represents to Trustee Mortgagee as follows:
Appears in 1 contract
Sources: Credit Agreement (Mediq Inc)