Common use of Florida Real Property Clause in Contracts

Florida Real Property. The parties hereto hereby acknowledge that the Revolving Loans, Supplemental Revolving Loans and Swing Line Loans are secured by real and personal property located both inside and outside the State of Florida and hereby agree that for purposes of calculating intangible taxes due under Section 199.133, Florida Statutes, the first amounts advanced as Revolving Loans, Supplemental Revolving Loans and Swing Line Loans shall be deemed to be the portion allocable to the Collateral and Mortgaged Property consisting of real property located in the State of Florida, and such portion allocable to such Collateral and Mortgaged Property shall also be deemed to be the last to be repaid under the terms hereof. Nothing herein shall limit the Agent's or any Lender's right to recover or realize from the Collateral or Mortgaged Property located in the State of Florida amounts in excess of that allocated to the Revolving Loans, Supplemental Revolving Loans and Swing Line Loans or to apply amounts so recovered or realized against the Obligations in such order as required pursuant to the Loan Documents.

Florida Real Property. The parties hereto hereby acknowledge that the Revolving Loans, Supplemental the Revolving (Supplemental) Loans and Swing Line the Swingline Loans are secured by real and personal property located both inside and outside the State of Florida and hereby agree that for purposes of calculating intangible taxes due under Section 199.133, Florida Statutes, the first amounts advanced as Revolving Loans, Supplemental Revolving (Supplemental) Loans and Swing Line Swingline Loans shall be deemed to be the portion allocable to the Collateral and Mortgaged Property consisting of real property located in the State of Florida, and such portion allocable to such Collateral and Mortgaged Property shall also be deemed to be the last to be repaid under the terms hereof. Nothing herein shall limit the Agent's or any Lendersecured party's right to recover or realize from the Collateral or Mortgaged Property located in the State of Florida amounts in excess of that allocated to the Revolving Loans, Supplemental Revolving (Supplemental) Loans and Swing Line or Swingline Loans or to apply amounts so recovered or realized against the Obligations in such order as required pursuant to the Loan DocumentsAgent named in the applicable security filing shall determine in its sole discretion.