Additional Advances and Disbursements; Costs of Enforcement. (a) Upon the occurrence and during the continuance of any Event of Default, Mortgagee and each of the other Secured Parties shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee or any other Secured Party under this Section 5.9, or otherwise under this Mortgage or any of the other Loan Documents or applicable law, shall, subject to any limitations thereon contained in any Loan Document, be payable on demand and shall bear interest from and including the date that such sum is advanced or expense incurred, to and excluding the date of reimbursement, at the interest rate applicable to Base Rate Loans pursuant to Section 2.08(a) of the Credit Agreement (provided that following an acceleration pursuant to Section 8.02 of the Credit Agreement (including without limitation, an automatic acceleration), interest shall accrue on such sums at the Default Rate applicable to Base Rate Loans pursuant to Section 2.08(b) of the Credit Agreement), and all such sums, together with interest thereon, shall be secured by this Mortgage. (b) Mortgagor shall pay all reasonable, out-of-pocket expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage, or the enforcement, compromise or settlement of the Indebtedness or any claim under this Mortgage, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.
Appears in 5 contracts
Samples: Credit Agreement, Second Lien Credit Agreement (Syniverse Holdings Inc), Credit Agreement (Syniverse Holdings Inc)
Additional Advances and Disbursements; Costs of Enforcement. (a) Upon the occurrence and during the continuance of any Event of Default, Mortgagee Beneficiary and Trustee and each of the other Secured Parties shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of MortgagorTrustor. All sums advanced and expenses incurred at any time by Mortgagee Beneficiary or Trustee or any other Secured Party under this Section 5.94.9, or otherwise under this Mortgage Deed of Trust or any of the other Loan Documents or applicable law, shall, subject to any limitations thereon contained in any Loan Document, be payable on demand and shall bear interest from and including the date that such sum is advanced or expense incurred, to and excluding the date of reimbursement, at the interest rate applicable to Base Rate Loans pursuant to Section 2.08(a) of the Credit Agreement (provided that following an acceleration pursuant to Section 8.02 the occurrence and during the continuance of the Credit Agreement (including without limitation, an automatic acceleration)any Event of Default, interest shall accrue on such sums at the Default Rate applicable to Base Rate Loans pursuant to Section 2.08(b) of the Credit Agreement), and all such sums, together with interest thereon, shall be secured by this MortgageDeed of Trust.
(b) Mortgagor Trustor shall pay all reasonable, out-of-pocket expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this MortgageDeed of Trust, or the enforcement, compromise or settlement of the Indebtedness Obligations or any claim under this MortgageDeed of Trust, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee Beneficiary in respect thereof, by litigation or otherwise.
Appears in 3 contracts
Samples: Deed of Trust, Security Agreement, Assignment of Rents and Leases (LEM America, Inc), Deed of Trust, Security Agreement, Assignment of Rents and Leases (LEM America, Inc), Deed of Trust, Security Agreement, Assignment of Rents and Leases (LEM America, Inc)
Additional Advances and Disbursements; Costs of Enforcement. (a) Upon To [the extent not prohibited under the terms of the Subject Leases, to] the extent applicable, upon the occurrence and during the continuance of any Event of Default, Mortgagee and each of the other Secured Parties shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee or any other Secured Party under this Section 5.9, or otherwise under this Mortgage or any of the other Loan Financing Documents or applicable law, shall, subject to any limitations thereon contained in any Loan Document, be payable on demand and shall bear interest from and including the date that such sum is advanced or expense incurred, to and excluding including the date of reimbursement, computed at the highest rate at which interest rate applicable to Base Rate Loans pursuant to Section 2.08(a) is then computed on any portion of the Credit Agreement (provided that following an acceleration pursuant to Section 8.02 of the Credit Agreement (including without limitation, an automatic acceleration), interest shall accrue on such sums at the Default Rate applicable to Base Rate Loans pursuant to Section 2.08(b) of the Credit Agreement)Indebtedness, and all such sums, together with interest thereon, shall be secured by this Mortgage. NTD: Bracketed text is only applicable if one or more leasehold interests are mortgaged.
(b) Mortgagor shall pay all reasonable, out-of-pocket expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this MortgageMortgage and the other Financing Documents, or the enforcement, compromise or settlement of the Indebtedness or any claim under this MortgageMortgage and the other Financing Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise.
Appears in 1 contract
Samples: Credit Agreement
Additional Advances and Disbursements; Costs of Enforcement. (a) Upon the occurrence and during the continuance of any Event of Default, Mortgagee and each of the other Secured Parties shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor. All sums advanced and expenses incurred at any time by Mortgagee or any other Secured Party under this Section 5.9, or otherwise under this Mortgage or any of the other Loan Documents or applicable law, shall, subject to any limitations thereon contained in any Loan Document, be payable on demand and shall bear interest from and including the date that such sum is advanced or expense incurred, to and excluding the date of reimbursement, at the interest rate applicable to Base Rate Loans pursuant to Section 2.08(a) of the Credit Agreement (provided that following an acceleration pursuant to the occurrence and during the continuance of any Event of Default set forth in Section 8.02 8.01(a) or (f) of the Credit Agreement (including without limitation, an automatic acceleration)Agreement, interest shall accrue on such sums at the Default Rate applicable to Base Rate Loans pursuant to Section 2.08(b) of the Credit Agreement), and all such sums, together with interest thereon, shall be secured by this Mortgage.
(b) . Mortgagor shall pay all reasonable, out-of-pocket expenses (including reasonable attorneys’ ' fees and expenses) of or incidental to the perfection and enforcement of this Mortgage, or the enforcement, compromise or settlement of the Indebtedness or any claim under this Mortgage, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee in respect thereof, by litigation or otherwise. No Mortgagee in Possession. Neither the enforcement of any of the remedies under this Article 5, the assignment of the Rents and Leases under Article 6, the security interests under Article 7, nor any other remedies afforded to Mortgagee under the Loan Documents, at law or in equity shall cause Mortgagee or any other Secured Party to be deemed or construed to be a mortgagee in possession of the Mortgaged Property, to obligate Mortgagee or any other Secured Party to lease the Mortgaged Property or attempt to do so, or to take any action, incur any expense, or perform or discharge any obligation, duty or liability whatsoever under any of the Leases or otherwise. ASSIGNMENT OF RENTS AND LEASES Assignment. In furtherance of and in addition to the assignment made by Mortgagor in Section 2.1 of this Mortgage, Mortgagor hereby absolutely and unconditionally assigns, sells, transfers and conveys to Mortgagee all of its right, title and interest in and to all Leases, whether now existing or hereafter entered into, and all of its right, title and interest in and to all Rents. This assignment is an absolute assignment and not an assignment for additional security only. So long as no Event of Default shall have occurred and be continuing, Mortgagor shall have a revocable license from Mortgagee to exercise all rights extended to the landlord under the Leases, including the right to receive and collect all Rents and to hold the Rents in trust for use in the payment and performance of the Obligations and to otherwise use the same. The foregoing license is granted subject to the conditional limitation that no Event of Default shall have occurred and be continuing. Upon the occurrence and during the continuance of an Event of Default, whether or not legal proceedings have commenced, and without regard to waste, adequacy of security for the Obligations or solvency of Mortgagor, the license herein granted shall automatically expire and terminate, without notice to Mortgagor by Mortgagee (any such notice being hereby expressly waived by Mortgagor to the extent permitted by applicable law).
Appears in 1 contract
Additional Advances and Disbursements; Costs of Enforcement. (a) Upon the occurrence and during the continuance of any Event of Default, Mortgagee Beneficiary and Trustee and each of the other Secured Parties shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of MortgagorTrustor. All sums advanced and expenses incurred at any time by Mortgagee Beneficiary or Trustee or any other Secured Party under this Section 5.94.9, or otherwise under this Mortgage Deed of Trust or any of the other Loan Documents or applicable law, shall, subject to any limitations thereon contained in any Loan Document, be payable on demand and shall bear interest from and including the date that such sum is advanced or expense incurred, to and excluding the date of reimbursement, at the interest rate applicable to Base Rate ABR Loans pursuant to Section 2.08(a2.11(a) of the Credit Agreement (provided that following an acceleration pursuant to Section 8.02 the occurrence and during the continuance of the Credit Agreement (including without limitation, an automatic acceleration)any Event of Default, interest shall accrue on such sums at the Default Rate applicable to Base Rate Loans pursuant to Section 2.08(b2.11(c) of the Credit Agreement), and all such sums, together with interest thereon, shall be secured by this MortgageDeed of Trust.
(b) Mortgagor Trustor shall pay all reasonable, out-of-pocket expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this MortgageDeed of Trust, or the enforcement, compromise or settlement of the Indebtedness Obligations or any claim under this MortgageDeed of Trust, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee Beneficiary in respect thereof, by litigation or otherwise.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement, Assignment of Rents and Leases (Marvell Technology Group LTD)