Common use of Acquired Property Subject to Lien Clause in Contracts

Acquired Property Subject to Lien. Subject to the Permitted Encumbrances and except as otherwise permitted by the Credit Agreement, all property at any time acquired by the Trustor and provided or required by this Deed of Trust to be or become subject to the lien and security interest hereof, whether such property is acquired by exchange, purchase, construction or otherwise, shall forthwith become subject to the lien and security interest of this Deed of Trust without further action on the part of the Trustor, the Trustee or the Beneficiary. The Trustor, at its expense, will execute and deliver to the Trustee and Beneficiary (and will record and file as provided in Section 1.4) an instrument supplemental to this Deed of Trust reasonably satisfactory in substance and form to the Beneficiary, whenever such an instrument is necessary under applicable law to subject to the lien and security interest of this Deed of Trust all right, title and interest of the Trustor in and to all property provided or required by this Deed of Trust to be subject to the lien and security interest hereof.

Appears in 2 contracts

Samples: Fixed Assets Secured Parties Deed of Trust (Sterling Chemical Inc), Current Assets Secured Parties Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Sterling Chemical Inc)

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Acquired Property Subject to Lien. Subject to the Permitted Encumbrances and except as otherwise permitted by the Credit AgreementIndenture, all property at any time acquired by the Trustor and provided or required by this Deed of Trust to be or become subject to the lien and security interest hereof, whether such property is acquired by exchange, purchase, construction or otherwise, shall forthwith become subject to the lien and security interest of this Deed of Trust without further action on the part of the Trustor, the Trustee Trustor or the Beneficiary. The Upon written request of Beneficiary, the Trustor, at its expense, will execute and deliver to the Trustee and Beneficiary (and will record and file as provided in Section 1.4) an instrument supplemental to this Deed of Trust reasonably satisfactory in substance and form to the Beneficiary, whenever such an instrument is necessary under applicable law to subject to the lien and security interest of this Deed of Trust all right, title and interest of the Trustor in and to all property provided or required by this Deed of Trust to be subject to the lien and security interest hereof.

Appears in 2 contracts

Samples: Deed of Trust (Sterling Chemicals Inc), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Sterling Chemical Inc)

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Acquired Property Subject to Lien. Subject to the Permitted Encumbrances and except as otherwise permitted by the Credit AgreementIndenture, all property at any time acquired by the Trustor and provided or required by this Deed of Trust to be or become subject to the lien and security interest hereof, whether such property is acquired by exchange, purchase, construction or otherwise, shall forthwith become subject to the lien and security interest of this Deed of Trust without further action on the part of the Trustor, the Trustee Trustor or the Beneficiary. The Trustor, at its expense, will execute and deliver to the Trustee and Beneficiary (and will record and file as provided in Section 1.4) an instrument supplemental to this Deed of Trust reasonably satisfactory in substance and form to the Beneficiary, whenever such an instrument is necessary under applicable law to subject to the lien and security interest of this Deed of Trust all right, title and interest of the Trustor in and to all property provided or required by this Deed of Trust to be subject to the lien and security interest hereof.

Appears in 1 contract

Samples: Second Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Sterling Chemical Inc)

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