Common use of Further Assurances; After-Acquired Property Clause in Contracts

Further Assurances; After-Acquired Property. (A) At any time, and from time to time, upon request by the Grantee, the Grantor, at Grantor's expense, will make, execute and deliver or cause to be made, executed and delivered to the Grantee and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee any and all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the opinion of the Grantee, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve the obligation of the Grantor under the Note and this Deed to Secure Debt, and the priority of this Deed to Secure Debt as a first and prior security title to all of the Property, whether now owned or hereafter acquired by the Grantor. Upon any failure by the Grantor so to do, the Grantee may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the Grantor, and the Grantor hereby irrevocably appoints the Grantee the agent and attorney-in-fact of the Grantor so to do. The rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (B) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 2 contracts

Samples: Future Advance Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (Roberts Realty Investors Inc), Future Advance Deed to Secure Debt, Assignment of Rents and Leases and Security Agreement (Roberts Realty Investors Inc)

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Further Assurances; After-Acquired Property. (A) At any time, time and from time to time, upon request by the GranteeAgent, the Grantor, at Grantor's expense, Grantor will make, execute and deliver or cause to be made, executed and delivered delivered, to the Grantee Agent and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded rerecorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee Agent, any and all such other and further mortgages, deeds of trust, deeds to secure debt, security agreements, financing statements, notice filings, continuation statements, instruments of further assurance, certificates and other documents as may, in the opinion of the GranteeAgent, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve (a) the obligation of the Grantor under the Note and Guaranty, this Deed to Secure Debt, Instrument or of Borrower and/or any other Person under the Credit Agreement and the priority of other Loan Documents and the Hedge Documents and (b) this Deed to Secure Debt Instrument as a first and prior lien upon and security title interest in and to all of the Property, whether now owned or hereafter acquired by Grantor, in each case, at no additional cost to Grantor (other than de minimis fees), and so long as such further acts do not increase the Grantorobligations of Grantor or diminish the rights of Grantor under the Loan Documents. Upon any failure by the Grantor so to do, the Grantee Agent may make, execute, and record, file, re-record and/or refile any and all such mortgages, deeds to secure debt, deeds of trust, security agreements, financing statements, continuation statements, instruments, certificates, and documents for and in the name of the Grantor, Grantor and the Grantor hereby irrevocably appoints the Grantee Agent the agent and attorney-in-fact of the Grantor so to do. The rights and title hereunder lien hereof will automatically will attach, without further act, to all after-after acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (B) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 2 contracts

Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)

Further Assurances; After-Acquired Property. (Aa) At any time, and from time to time, upon request by the GranteeLender, the GrantorMortgagor, at Grantor's Mortgagor’s expense, will make, execute and deliver or cause to be made, executed and delivered to the Grantee Lender and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee Lender any and all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the opinion of the GranteeLender, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve the obligation of the Grantor Borrower under the Note and the Mortgagor under this Deed to Secure DebtMortgage, and the priority of this Deed to Secure Debt Mortgage as a first and prior security title to lien upon all of the Mortgaged Property, whether now owned or hereafter acquired by the GrantorMortgagor. Upon any failure by the Grantor Mortgagor so to do, the Grantee Lender may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the GrantorMortgagor, and the Grantor Mortgagor hereby irrevocably appoints the Grantee Lender the agent and attorney-in-fact of the Grantor Mortgagor so to do. The lien and rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee Lender has given value under the Note) attached to and/or used in the operation of the Mortgaged Property or any part thereof. (Bb) Without limitation to the generality of the other provisions of this Deed to Secure DebtMortgage, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Mortgaged Property at any time acquired by the Grantor Mortgagor by whatsoever means, including that in the event the Grantor Mortgagor is the owner of an estate or interest in the Mortgaged Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt Mortgage the Grantor Mortgagor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Mortgaged Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor Mortgagor or the Grantee Lender or any other person or entity, be and become subject to this Deed to Secure Debt Mortgage and the lien hereof. In consideration of Grantee's Lender’s making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor Mortgagor hereby grants, bargains, sells and conveys to GranteeLender, on the same terms as set forth in this Deed to Secure Debt Mortgage and intended to be a part hereof, all such after-acquired property and estates.

Appears in 2 contracts

Samples: Loan Agreement (Westwater Resources, Inc.), Future Advance Mortgage, Assignment of Rents and Leases and Security Agreement (Westwater Resources, Inc.)

Further Assurances; After-Acquired Property. (A) At any time, and from time to time, time upon request by the GranteeLender, the Grantor, at Grantor's expense, Mortgagor will make, execute and deliver or cause to be made, executed and delivered to the Grantee Lender and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee Lender any and all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the opinion of the GranteeLender, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve the obligation obligations of the Grantor Borrower and the Mortgagor under the Note and this Deed to Secure DebtMortgage, and the priority of this Deed to Secure Debt Mortgage as a first and prior security title to lien upon all of the Mortgaged Property, whether now owned or hereafter acquired by the GrantorMortgagor. Upon any failure by the Grantor Mortgagor so to do, the Grantee Lender may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the Grantor, Mortgagor and the Grantor Mortgagor hereby irrevocably appoints the Grantee Lender the agent and attorney-in-fact of the Grantor Mortgagor so to do. The lien and rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee Lender has given value under the Note) attached to and/or used in the operation of the Mortgaged Property or any part thereof. (B) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Ark Restaurants Corp)

Further Assurances; After-Acquired Property. (Aa) At any time, and from time to time, upon request by the Grantee, the Grantor, at Grantor's expense, will make, execute and deliver or cause to be made, executed and delivered to the Grantee and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee any and all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the opinion of the Grantee, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve the obligation of the Grantor under the Note and this Deed to Secure Debt, and the priority of this Deed to Secure Debt as a first and prior security title to all of the Property, whether now owned or hereafter acquired by the Grantor. Upon any failure by the Grantor so to do, the Grantee may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the Grantor, and the Grantor hereby irrevocably appoints the Grantee the agent and attorney-in-fact of the Grantor so to do. The rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (Bb) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 1 contract

Samples: Deed to Secure Debt (Roberts Realty Investors Inc)

Further Assurances; After-Acquired Property. (A) At any time, and from time to time, at Borrower’s expense and upon request by the GranteeLender, the Grantor, at Grantor's expense, will Borrower shall make, execute and deliver or cause to be made, executed and delivered delivered, to the Grantee Lender and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled refilled at such time and in such offices and places as shall be deemed desirable by the Grantee Lender, any and all such other and further deeds to secure debt, mortgages, deeds of trust, security agreements, financing statements, continuation statements, instruments of further assuranceassurances, certificates and other documents as may, in the opinion of the GranteeLender, be necessary or desirable in order to effectuate, complete, complete or perfect, or to continue and preserve preserve, [i] the obligation obligations of the Grantor under Borrower described in the Note and under this Deed to Secure Debt, of Trust and [ii] the priority lien of this Deed to Secure Debt of Trust as a first and prior lien upon and security title interest in and to all of the Property, whether now owned or hereafter acquired by Borrower, subject only to the GrantorPermitted Exceptions. Upon any failure by the Grantor Borrower so to do, the Grantee Lender may make, execute, and record, file, re-record and/or refile any and all such deeds to secure debt, mortgages, deeds of trust, security agreement, financing statements, continuation statements, instruments, certificates, certificates and documents for and in the name of the GrantorBorrower, and the Grantor Borrower hereby irrevocably appoints the Grantee Lender the agent and attorney-in-fact of the Grantor Borrower so to do. The rights lien and title hereunder security interest hereof shall automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (B) Without limitation , to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired extent permitted by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estateslaw.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents and Security Agreement (Griffin Industrial Realty, Inc.)

Further Assurances; After-Acquired Property. (Aa) At any time, and from time to time, upon request by the Grantee, the Grantor, at Grantor's expense, will make, execute and deliver or cause to be made, executed and delivered to the Grantee and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee any and all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the opinion of the Grantee, be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve the obligation of the Grantor under the Note and this Deed to Secure Debt, and the priority of this Deed to Secure Debt as a first and prior security title to all of the Property, whether now owned or hereafter acquired by the Grantor. Upon any failure by the Grantor so to do, the Grantee may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the Grantor, and the Grantor hereby irrevocably appoints the Grantee the agent and attorney-in-fact of the Grantor so to do. The rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (Bb) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 1 contract

Samples: Future Advance Deed to Secure Debt (Roberts Realty Investors Inc)

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Further Assurances; After-Acquired Property. (A) At any time, and from time to time, at Borrower’s expense and upon request by the GranteeLender, the Grantor, at Grantor's expense, will Borrower shall make, execute and deliver or cause to be made, executed and delivered delivered, to the Grantee Lender and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled refilled at such time and in such offices and places as shall be deemed desirable by the Grantee Lender, any and all such other and further deeds to secure debt, mortgages, deeds of trust, security agreements, financing statements, continuation statements, instruments of further assuranceassurances, certificates and other documents as may, in the opinion of the GranteeLender, be necessary or desirable in order to effectuate, complete, complete or perfect, or to continue and preserve preserve, [i] the obligation obligations of the Grantor under Borrower described in the Note and under this Deed to Secure Debt, Mortgage and [ii] the priority lien of this Deed to Secure Debt Mortgage as a first and prior lien upon and security title interest in and to all of the Property, whether now owned or hereafter acquired by Borrower, subject only to the GrantorPermitted Exceptions. Upon any failure by the Grantor Borrower so to do, the Grantee Lender may make, execute, and record, file, re-record and/or refile any and all such deeds to secure debt, mortgages, deeds of trust, security agreement, financing statements, continuation statements, instruments, certificates, certificates and documents for and in the name of the GrantorBorrower, and the Grantor Borrower hereby irrevocably appoints the Grantee Lender the agent and attorney-in-fact of the Grantor Borrower so to do. The rights lien and title hereunder security interest hereof shall automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property or any part thereof. (B) Without limitation , to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired extent permitted by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estateslaw.

Appears in 1 contract

Samples: Mortgage, Assignment of Rents and Security Agreement (Griffin Industrial Realty, Inc.)

Further Assurances; After-Acquired Property. (A) At any time, time and from time to time, upon request by the Granteefrom Mortgagee, the Grantor, at Grantor's expense, will Mortgagor shall make, execute and deliver deliver, or cause to be made, executed and delivered delivered, to the Grantee Mortgagee and, where appropriate, to cause to be recorded and/or filed or filed, or both, and from time to time thereafter to be re-recorded and/or refiled or refiled, or both, at such time and in such offices and places as shall be deemed desirable by the Grantee Mortgagee, any and all such other and further mortgages, security agreements, financing statements, continuation statements, instruments of further assuranceassurances, certificates and other documents as may, in the opinion of the GranteeMortgagee, be necessary or desirable in order to effectuate, complete, complete or perfect, or to continue and preserve (i) the obligation obligations of the Grantor Mortgagor under this Mortgage and the Note and this Deed to Secure Debtother Operative Documents, and (ii) the priority lien and security interest of this Deed to Secure Debt Mortgage as a first and prior lien and security title to interest upon all of the Security Property, whether now owned or hereafter acquired by the GrantorMortgagor. Upon any failure by the Grantor Mortgagor to so to domake, the Grantee execute and deliver each of such documents after written demand, Mortgagee may make, execute, record, file, re-record and record refile, as appropriate, any and all such mortgages, security agreements, financing statements, continuation statements, instruments, certificates, certificates and documents for and in the name of the GrantorMortgagor, and the Grantor Mortgagor hereby irrevocably appoints the Grantee the Mortgagee as its agent and attorney-in-fact of the Grantor so to doin connection therewith. The rights lien and title hereunder security interest hereof will automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) owned by Mortgagor attached to and/or or used in connection with the operation of the Security Property or any part thereof. (B) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever means, including that in the event the Grantor is the owner of an estate or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automatically, and without any further action or filing or recording on the part of the Grantor or the Grantee or any other person or entity, be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on the same terms as set forth in this Deed to Secure Debt and intended to be a part hereof, all such after-acquired property and estates.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Financing Statement (Itt Industries Inc)

Further Assurances; After-Acquired Property. (Aa) At any timeThe Debtors will do, execute, acknowledge and from time to timedeliver, upon request by the Grantee, the Grantor, at Grantor's expense, will make, execute and deliver or cause to be madedone, executed executed, acknowledged and delivered to the Grantee anddelivered, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by the Grantee any and all such other and further acts, deeds, conveyances, mortgages, instruments of further assuranceassignments, certificates transfers and other documents assurances as may, in the opinion of the Grantee, may be necessary or desirable in order to effectuate, complete, or perfect, or to continue and preserve as the obligation Secured Party reasonably may require for the perfection of the Grantor under lien being herein provided for in the Note Collateral. Without limiting the generality of the foregoing, the Debtors will: (i) mark xxxspicuously each document related to the Debtors' chattel paper and this Deed all other documents or instruments related to Secure Debtaccounts, contract rights or general intangibles ("Related Contracts") and, at the request of the Secured Party, each of its records pertaining to the Collateral with a legend, in form and substance satisfactory to the Secured Party, indicating that such documents, chattel paper, Related Contracts or Collateral is subject to the security interest granted hereby; and (ii) if any account, contract right or general intangible ("Receivables") shall be evidenced by a promissory note or other instrument or chattel paper, deliver and pledge to the Secured Party hereunder such note, instrument or chattel paper duly indorsed and accompanied by duly executed instruments or transfer or assignment, all in form and substance satisfactory to the Secured Party. (b) All right, title, and interest of the priority of this Deed to Secure Debt as a first Debtors in and prior security title to all of the Propertyextensions, whether now owned or hereafter acquired by the Grantor. Upon any failure by the Grantor so to doimprovements, betterments, renewals, substitutes and replacements of, and all additions and appurtenances to, the Grantee may make, execute, and record any and all such mortgages, instruments, certificates, and documents for and in the name of the Grantor, and the Grantor hereby irrevocably appoints the Grantee the agent and attorney-in-fact of the Grantor so to do. The rights and title hereunder automatically will attach, without further act, to all after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after the Grantee has given value under the Note) attached to and/or used in the operation of the Property Collateral or any part thereof. (B) Without limitation to the generality of the other provisions of this Deed to Secure Debt, including subparagraph (a) of this Paragraph 1.09, it hereby expressly is covenanted, agreed and acknowledged that the lien and rights hereunder automatically will attach to any further, greater, additional, hereafter constructed or different estate, rights, titles or interests in or to any of the Property at any time acquired by the Grantor by whatsoever meansDebtors, including that in the event the Grantor is the owner of an estate immediately upon such construction or interest in the Property or any part thereof (such as, for example, as the lessee or tenant) other than as the fee simple owner thereof, and prior to the satisfaction of record of this Deed to Secure Debt the Grantor obtains or otherwise acquires such fee simple or other estate, then such further, greater, additional, or different estate in the Property, or a part thereof, shall automaticallyacquisition, and without any further action mortgage, conveyance or filing or recording on the assignment, shall become and be part of the Grantor or the Grantee or any other person or entity, Collateral and shall be and become subject to this Deed to Secure Debt and the lien hereof. In consideration of Grantee's making the Loan this Security Agreement as aforesaid, fully and to secure the Loan, the Other Indebtedness completely and obligations set forth above, Grantor hereby grants, bargains, sells and conveys to Grantee, on with the same terms effect as set forth in this Deed though now owned by the Debtors, but at any and all times the Debtors will execute and deliver to Secure Debt the Secured Party any and intended to be a part hereof, all such after-acquired property further assurances, mortgages, conveyances or assignments thereof and estatesfinancing statements and other instruments with respect thereto as shall be necessary or desirable or as the Secured Party may reasonably require for the purpose of expressly and specifically subjecting the same to the lien of this Security Agreement.

Appears in 1 contract

Samples: Security Agreement (Chrysalis International Corp)

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