Collateral-Mortgaged Properties Clause Samples

Collateral-Mortgaged Properties. With respect to each Mortgaged Property within the Collateral the Administrative Agent has: (i) a first priority lien (subject to 113 767077577.9 Permitted Liens) upon the fee simple title to the Mortgaged Property; (ii) a first priority lien (subject to Permitted Liens) upon the leases and rents applicable to the Mortgaged Property; (iii) a first priority lien (subject to Permitted Liens) upon all equipment and fixtures applicable to the Mortgaged Property; and (iv) all Mortgaged Property Security Documents reasonably requested by the Administrative Agent.