Covenants of the Mortgagor. 4.1 The Mortgagor has obtained authorization necessary to enter into this Contract pursuant to relevant regulations and procedures.
4.2 The full and undisputed ownership and disposition right of the collateral is entitled to the mortgagor.
4.3 The collateral is negotiable or transferable according to law.
4.4 Such cases as the collateral has been sealed up, distrained or supervised would not happen.
4.5 The mortgagor shall make a full and accurate disclosure to the extent that the money and collateral such as tax in default, construction mortgages have been mortgaged or rented.
4.6 The Mortgagor has obtained approval from co-owners of the right to be pledged under this Contract.
4.7 During the term of mortgage, the mortgagor shall inform the mortgagee in written for any of following cases:
4.7.1 The collateral has been sealed up, distrained, supervised or has been taken other enforcement actions.
4.7.2 The mortgagor changed the capital structure or operation system, include but not limited to contract operation, leasing, shareholding system transformation, joint operation, merger, separation, partnership, asset transferring, and etc.
4.7.3 The business licenses of the mortgagor has been cancelled or revoked, or he is ordered to close down or was terminated for other causes.
4.7.4 The mortgagor applies for bankruptcy, reorganization, reconciliation or is the subject of bankruptcy and reorganization applications.
4.8 There is no existence of other cases that would affect the realization of collateral.
Covenants of the Mortgagor. The Mortgagor represents, warrants, covenants and agrees with Mortgagee as follows:
Covenants of the Mortgagor. (a) The Mortgagor covenants that at all times while this Mortgage remains in effect the Mortgagor will:
(i) promptly pay and satisfy the Obligations as they become due or are demanded and shall observe all conditions and covenants herein contained;
(ii) defend the title to the Property for the benefit of the Mortgagee against the claims and demands of all persons;
(iii) maintain insurance on the Property with an insurer, of kinds, for amounts and payable to such person or persons, all as the Mortgagee may require;
(iv) maintain the Property in good condition, order and repair and not permit the value of the Property to be impaired and not to demolish any part of the buildings now or at any time located on the Property without the prior written consent of the Mortgagee and not to proceed with any substantial alterations, remodeling or rebuilding of or any addition to the buildings on the Property without the prior written consent of the Mortgagee;
(v) forthwith pay and satisfy;
A. all taxes, assessments, rates, duties, levies, government fees, claims and dues lawfully levied, assessed or imposed upon the Mortgagor or the Property when due, unless the Mortgagor shall in good faith contest its obligations so to pay and shall furnish such security as the Mortgagee may require; and
B. all security interests, charges, encumbrances, liens and claims which rank or could in any event rank in priority to the Mortgage, other than the charges or security interests, if any, consented to in writing by the Mortgagee;
(vi) if required by the Mortgagee make installment payments to the Mortgagee on account of taxes, rates, levies and assessments upon the lands and premises, such payments to be an estimate by the Mortgagee of the sum required to accumulate a fund sufficient to pay such taxes, rates, levies and assessments when they become due; the Mortgagee may apply any such payment against the indebtedness secured or any money payable hereunder;
(vii) forthwith pay and satisfy all costs, charges, expenses and legal fees and disbursements (on a solicitor and his own client basis) which may be incurred by the Mortgagee in:
A. inspecting the Property;
B. negotiating, preparing, perfecting and registering this Mortgage and other documents, whether or not relating to this Mortgage;
C. maintaining the intended priority of the Mortgage;
D. investigating title to the Property;
E. taking, recovering, keeping possession of and insuring the Property;
F. maintaining the Property in go...
Covenants of the Mortgagor. The Mortgagor hereby covenants with and to the Mortgagee that: (a) the Mortgagor shall (i) comply and shall cause all occupants of the Mortgaged Property to comply with all federal, state and local laws, rules, regulations and orders with respect to the discharge, generation, removal, transportation, storage and handling of Hazardous Wastes or Substances, (ii) remove or otherwise remediate any Hazardous Wastes and Substances immediately upon discovery of same (except such solvents, cleaning materials and other substances in nominal amounts as are used in connection with the operation or maintenance of the Mortgaged Property and in compliance with applicable Laws), and (iii) pay or cause to be paid all costs associated with such removal or remediation; (b) the Mortgagor shall keep the Mortgaged Property free of any lien imposed pursuant to any state or federal law, rule, regulation or order in connection with the existence of Hazardous Wastes or Substances on the Mortgaged Property; (c) the Mortgagor shall not install or permit to be installed or to exist in or on the Mortgaged Property any Hazardous Wastes or Substances (except such solvents, cleaning materials and other substances in nominal amounts as are used in connection with the operation or maintenance of the Mortgaged Property and in compliance with applicable Laws); and (d) the Mortgagor shall not cause or permit to exist, as a result of an intentional or unintentional act or omission on the part of the Mortgagor or any occupant of the Mortgaged Property, a releasing, spilling, leaking, pumping, emitting, pouring, emptying or dumping of any Hazardous Wastes or Substances onto the Mortgaged Property or into waters or other lands.
Covenants of the Mortgagor. So long as any of the Obligations shall remain outstanding, unless the Mortgagee shall otherwise consent in writing:
Covenants of the Mortgagor. The Mortgagor hereby covenants to the Mortgagee that
(a) the Mortgagor shall (i) comply and shall cause all occupants of the Premises to comply with all federal, state and local laws, rules, regulations and orders with respect to the discharge, generation, removal, transportation, storage and handling of Hazardous Wastes and Substances, (ii) remove any Hazardous Wastes and Substances immediately upon discovery of same, and (iii) pay or cause to be paid all costs associated with such removal;
(b) the Mortgagor shall keep the Premises free of any lien imposed pursuant to any state or federal law, rule, regulation or order in connection with the existence of Hazardous Wastes and Substances on the Premises;
(c) the Mortgagor shall not install or permit to be installed or to exist in or on the Premises any asbestos, asbestos-containing materials, urea formaldehyde insulation or any other chemical or substance which has been determined to be a hazard to health and environment; and
(d) the Mortgagor shall not cause or permit to exist, as a result of an intentional or unintentional act or omission on the part of the Mortgagor or any occupant of the Premises, a releasing, spilling, leaking, pumping, emitting, pouring, emptying or dumping of any Hazardous Wastes or Substances onto the Premises or into waters or other lands.
Covenants of the Mortgagor. Mortgagor covenants and agrees to the faithful fulfillment of the following stipulations in favor of Mortgagee:
1. The Mortgaged Property shall remain specially mortgaged, pledged, affected and hypothecated to Mortgagee until the full and final payment of the Note, and all interest, attorneys' fees, insurance premiums, taxes, collection costs, keeper's fees, and all other costs. Mortgagor agrees not to abandon, sell, transfer, lease, donate, exchange, pledge, assign, convey, alienate, or further encumber any of the Mortgaged Property or any interest therein and shall not permit any other party to do so. In no event shall any such act by Mortgagor, whether or not authorized by Mortgagee, prejudice the rights of Mortgagee under this mortgage.
Covenants of the Mortgagor. 7.1 The Mortgagor shall not create or agree or attempt to create any Security over the Mortgage Certificates or any interest therein, or permit the same to exist, except as otherwise permitted by the Finance Documents.
7.2 The Mortgagor shall not apply for or permit the issuance of any mortgage certificates in respect of the business of the Mortgagor other than the Mortgage Certificates, except as otherwise permitted by the Finance Documents.
Covenants of the Mortgagor. In addition to covenants contained elsewhere herein, the Mortgagor covenants and agrees with the Agent as follows:
Covenants of the Mortgagor. 7.1 Subject to Clause 12.2, the Mortgagor shall not sell, transfer or dispose or agree or attempt to sell, transfer or dispose of the Properties, or any part thereof, or permit the same to occur, except as otherwise permitted by the Finance Documents.
7.2 The Mortgagor shall not create or agree or attempt to create any Security over the Mortgage Certificates or any interest therein, or permit the same to exist, except as otherwise permitted by the Finance Documents.
7.3 The Mortgagor shall not apply for or permit the issuance of any mortgage certificates in respect of the Properties other than the Mortgage Certificates, except as otherwise permitted by the Finance Documents.
