Common use of Certain Expenses of Beneficiary Clause in Contracts

Certain Expenses of Beneficiary. If any action, suit or other proceeding affecting the Mortgaged Property or any part thereof be commenced, in which action, suit or proceeding Beneficiary is made a party or participates or in which the right to use the Mortgaged Property or any part thereof is threatened, or in which it becomes necessary in the judgment of Beneficiary to defend or uphold the Lien of this Deed to Secure Debt (including, without limitation, any action, suit or proceeding to establish or uphold the compliance of the Improvements with any Requirements of Law), then all amounts reasonably paid or incurred by Beneficiary for the expense of any such action, suit or other proceeding or to protect its rights therein (whether or not it is made or becomes a party thereto) or otherwise to enforce or defend the rights and Lien created by this Deed to Secure Debt, shall be paid by Grantor upon demand together with interest at the Default Rate from the date of the payment or incurring thereof to the date of repayment, and any such amount and the interest thereon shall be a Lien on the Mortgaged Property, prior to any right, or right to, interest in, or claim upon the Mortgaged Property attaching or accruing subsequent to or otherwise subordinate to the Lien of this Deed to Secure Debt, and the same shall be deemed to be secured hereby. All other amounts reasonably paid, advanced or incurred by Beneficiary in order to secure and protect the Lien of this Deed to Secure Debt or other security provided hereunder shall be a like Lien on the Mortgaged Property and be deemed to be secured hereby.

Appears in 2 contracts

Samples: Securities Pledge Agreement (Carson Inc), Securities Pledge Agreement (Carson Inc)

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Certain Expenses of Beneficiary. If any action, suit or other proceeding affecting the Mortgaged Property or any part thereof be commenced, in which action, suit or proceeding Beneficiary is made a party or participates or in which the right to use the Mortgaged Property or any part thereof is threatened, or in which it becomes necessary in the reasonable judgment of Beneficiary to defend or uphold the Lien of this Deed to Secure Debt of Trust (including, without limitation, any action, suit or proceeding to establish or uphold the compliance of the Improvements with any Requirements of Law), then all reasonable amounts reasonably paid or incurred by Beneficiary for the expense of any such action, suit or other proceeding or to protect its rights therein (whether or not it is made or becomes a party thereto) or otherwise to enforce or defend the rights and Lien created by this Deed to Secure Debtof Trust, shall be paid promptly by Grantor upon demand together with interest at the Default Rate from the date of the payment or incurring thereof to the date of repayment, and any such amount and the interest thereon shall be a Lien on the Mortgaged Property, prior to any right, or right to, interest in, or claim upon the Mortgaged Property attaching or accruing subsequent to or otherwise subordinate to the Lien of this Deed to Secure Debtof Trust, and the same shall be deemed to be secured hereby. All other reasonable amounts reasonably paid, advanced or incurred by Beneficiary in order to secure and protect the Lien of this Deed to Secure Debt of Trust or other security provided hereunder shall be a like Lien on the Mortgaged Property and be deemed to be secured hereby.

Appears in 1 contract

Samples: Security Agreement (Tuesday Morning Corp/De)

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Certain Expenses of Beneficiary. If any action, suit ------------------------------- or other proceeding affecting the Mortgaged Property or any part thereof be commenced, in which action, suit or proceeding Beneficiary is made a party or participates or in which the right to use the Mortgaged Property or any part thereof is threatened, or in which it becomes necessary in the judgment of Beneficiary to defend or uphold the Lien of this Deed to Secure Debt (including, without limitation, any action, suit or proceeding to establish or uphold the compliance of the Improvements with any Requirements of Law), then all amounts reasonably paid or incurred by Beneficiary for the expense of any such action, suit or other proceeding or to protect its rights therein (whether or not it is made or becomes a party thereto) or otherwise to enforce or defend the rights and Lien created by this Deed to Secure Debt, shall be paid by Grantor upon demand together with interest at the Default Rate from the date of the payment or incurring thereof to the date of repayment, and any such amount and the interest thereon shall be a Lien on the Mortgaged Property, prior to any right, or right to, interest in, or claim upon the Mortgaged Property attaching or accruing subsequent to or otherwise subordinate to the Lien of this Deed to Secure Debt, and the same shall be deemed to be secured hereby. All other amounts reasonably paid, advanced or incurred by Beneficiary in order to secure and protect the Lien of this Deed to Secure Debt or other security provided hereunder shall be a like Lien on the Mortgaged Property and be deemed to be secured hereby.

Appears in 1 contract

Samples: Agreement; Assignment Agreement (Carson Products Co)

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