Common use of Extension of Payments Clause in Contracts

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured hereby, but otherwise subject to the provisions of the Credit Agreement, extend the time, or agree to alter or amend the terms of payment of such Liabilities. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities or the remainder of the security.

Appears in 4 contracts

Samples: Credit Agreement (Aavid Thermal Technologies Inc), Mortgage, Security Agreement, Financing Statement and Assignment of Rents and Leases (Gfsi Inc), Mortgage, Security Agreement, Financing Statement and Assignment of Rents and Leases (Sybron Dental Specialties Inc)

AutoNDA by SimpleDocs

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment xxx xxxxxnt of the Liabilities secured hereby Secured Obligations or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured herebySecured Obligations, but otherwise subject to the provisions of the Credit AgreementLoan Documents, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesSecured Obligations. Mortgagor further agrees that any part of the security herein described may be describxx xxx xx released with or without consideration without affecting the remainder of the Liabilities Secured Obligations or the remainder of the security.

Appears in 1 contract

Samples: Mortgage Agreement (U S Plastic Lumber Corp)

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured Obligations Secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee the Collateral Agent of its rights and privileges hereunder), Mortgagee the Collateral Agent may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured herebyObligations Secured, but otherwise subject to the provisions of the Credit Guaranty Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations Secured. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations Secured or the remainder of the security.

Appears in 1 contract

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ironton Iron Inc)

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such Liabilities. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities or the remainder of the security.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Assignment of Rents and Leases (Cerion Technologies Inc)

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities Obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities Obligations secured hereby, but otherwise subject to the provisions of the Credit Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Assignment of Leases and Rents (Lady Luck Gaming Corp)

AutoNDA by SimpleDocs

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities obligations secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Real Estate Mortgage

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities Obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities Obligations secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Mortgage (Meritage Hospitality Group Inc /Mi/)

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