Common use of DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS Clause in Contracts

DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS. At Mortgagor’s sole expense, Mortgagor shall protect, preserve and defend the Subject Property and Collateral and title to and right of possession of the Subject Property and Collateral, the security hereof and the rights and powers of Mortgagee hereunder against all adverse claims. Mortgagor shall give Mortgagee prompt notice in writing of the assertion of any claim, of the filing of any action or proceeding, of the occurrence of any damage to the Subject Property or Collateral and of any condemnation offer or action.

Appears in 10 contracts

Samples: Open End Mortgage (KBS Real Estate Investment Trust II, Inc.), Open End Mortgage (KBS Real Estate Investment Trust II, Inc.), Open End Mortgage (KBS Real Estate Investment Trust II, Inc.)

AutoNDA by SimpleDocs

DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS. At Mortgagor’s 's sole expense, Mortgagor shall protect, preserve and defend the Subject Property and Collateral and title to and right of possession of the Subject Property and Collateral, the security hereof and the rights and powers of Mortgagee hereunder against all adverse claims. Mortgagor shall give Mortgagee prompt notice in writing of the assertion of any claim, of the filing of any action or proceeding, of the occurrence of any damage to the Subject Property or Collateral and of any condemnation offer or action.

Appears in 4 contracts

Samples: Building Loan Mortgage, Project Loan Mortgage (KBS Strategic Opportunity REIT II, Inc.), Building Loan Mortgage (KBS Strategic Opportunity REIT II, Inc.)

AutoNDA by SimpleDocs

DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS. At Mortgagor’s 's sole expense, Mortgagor shall protect, preserve and defend the Subject Property and Collateral and title to and right of possession of the Subject Property and Collateral, the security hereof and the rights and powers of Mortgagee hereunder against all adverse claims. Mortgagor shall give Mortgagee prompt notice in writing of the assertion of any claim, of the filing of any action or proceeding, of the occurrence of any damage to the Subject Property or Collateral and of any condemnation offer or action.

Appears in 2 contracts

Samples: Mortgage (KBS Real Estate Investment Trust II, Inc.), Mortgage (Virco MFG Corporation)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!