First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien and security interest status of this Mortgage and the other Loan Documents. If any lien or security interest other than the Permitted Encumbrances is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 4 contracts
Samples: Mortgage, Security Agreement, Assignment of Rents and Leases (Sandhills Inc), Mortgage, Security Agreement, Assignment of Rents and Leases (Sandhills Inc), Mortgage, Security Agreement, Assignment of Rents and Leases (Sandhills Inc)
First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien and security interest status of this Mortgage and the other Loan Documents. If any lien or security interest other than the a Permitted Encumbrances Encumbrance or a Permitted Lien is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 3 contracts
Samples: Credit Agreement (Five Star Senior Living Inc.), Credit Agreement (Five Star Quality Care, Inc.), Credit and Guaranty Agreement (Lannett Co Inc)
First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien and security interest status of this Mortgage and the other Loan Documents. If any lien or security interest other than the Permitted Encumbrances is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Loan Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 3 contracts
Samples: Loan Agreement (Acadia Realty Trust), Mortgage, Security Agreement and Fixture Filing (Winston Hotels Inc), Mortgage and Security Agreement (Metropolis Realty Trust Inc)
First Lien Status. Except as otherwise provided in the Credit Agreement, Mortgagor shall preserve and protect ----------------- the first lien and security interest status of this Mortgage and the other Loan DocumentsMortgage. If any lien or security interest other than the Permitted Encumbrances or this Mortgage is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Simmons Co /Ga/), Credit and Guaranty Agreement (Simmons Bedding Co)
First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien and security interest status First Priority Lien of this Mortgage and the other Loan Documents. If any lien or security interest other than the Permitted Encumbrances is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the any requirement of providing to provide a bond or other security satisfactory to Mortgagee).
Appears in 1 contract
First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien First Priority Lien and security interest status of this Mortgage and the other Loan Documents. If any lien Lien or security interest other than the Permitted Encumbrances is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien Lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 1 contract
First Lien Status. Mortgagor shall preserve and protect ----------------- the first lien and security interest status of this Mortgage and the other Loan Documents. If any lien or security interest other than the a Permitted Encumbrances Real Estate Encumbrance is asserted against the Mortgaged Property, Mortgagor shall promptly, and at its expense, (a) give Mortgagee a detailed written notice of such lien or security interest (including origin, amount and other terms), and (b) pay the underlying claim in full or take such other action so as to cause it to be released or contest the same in compliance with the requirements of the Credit Agreement (including the requirement of providing a bond or other security satisfactory to Mortgagee).
Appears in 1 contract
