Further Assurances; After-Acquired Property. At any time, and from time to time, upon request by Mortgagee, Mortgagor will make, execute and deliver or cause to be made, executed and delivered to Mortgagee and, where appropriate, cause to be recorded and/or filed and from time to time thereafter to be rerecorded and/or refiled at such time and in such offices and places as shall be deemed desirable by Mortgagee (i) to perfect and protect the security interest created or purported to be created hereby; (ii) to enable the Mortgagee to exercise and enforce its rights and remedies hereunder in respect of the Collateral; or (iii) to effect otherwise the purposes of this Mortgage, including, without limitation: (A) executing and filing such financing or continuation statements, or amendments thereto, as may be necessary or desirable or that the Mortgagee may request in order to perfect and preserve the security interest created by this Mortgage as a first and prior security interest upon and security title in and to all of the Collateral, whether now owned or hereafter acquired by Mortgagor; (B) if certificates of title are now or hereafter issued or outstanding with respect to any of the Collateral, by immediately causing the interest of Mortgagee to be properly noted thereon at Mortgagor's expense; and (C) furnishing to the Mortgagee from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Mortgagee may request, all in reasonable detail. Upon any failure by Mortgagor so to do, Mortgagee may make, execute, record, file, re-record and/or refile any and all such financing statements, continuation statements, or amendments thereto, certificates, and documents for and in the name of Mortgagor, and Mortgagor hereby irrevocably appoints Mortgagee the agent and attorney-in-fact of Mortgagor so to do. The lien of this Mortgage will automatically attach, without further act, to all after- acquired property attached to and/or used in the operation of the Collateral or any part thereof.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Emeritus Corp\wa\)
Further Assurances; After-Acquired Property. At any time(a) Solely with respect to the Effective Date, each of Holdings and the Borrower will, and from time to time, upon request by Mortgagee, Mortgagor will makecause each Loan Party to, execute any and deliver all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, mortgages, deeds of trust and other documents), that may be required under any applicable law and that the First Lien Administrative Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be madeand remain satisfied, executed all at the expense of the Loan Parties.
(b) If, after the Effective Date, any material assets (other than Excluded Assets or Oil and delivered Gas Properties with associated Proved Reserves), including any owned (but not leased or ground leased) Material Real Property or improvements thereto or any interest therein are acquired by the Borrower or any other Loan Party or are held by any Subsidiary on or after the time it becomes a Loan Party pursuant to Mortgagee Section 5.11 (other than assets constituting Collateral under a Security Document that become subject to the Lien created by such Security Document upon acquisition thereof or constituting Excluded Assets), the Borrower will notify the First Lien Administrative Agent thereof, and, where appropriateif requested by the First Lien Administrative Agent, the Borrower will cause such assets to be recorded and/or filed subjected to a Lien securing the Secured Obligations and from time will take and cause the other Loan Parties to time thereafter to be rerecorded and/or refiled at take, such time and in such offices and places actions as shall be deemed desirable necessary and reasonably requested by Mortgagee the First Lien Administrative Agent to grant and perfect such Liens, including actions described in paragraph (ia) of this Section and as required pursuant to perfect the “Collateral and protect Guarantee Requirement,” all at the security interest created or purported to be created hereby; (ii) to enable the Mortgagee to exercise and enforce its rights and remedies hereunder in respect expense of the Collateral; Loan Parties and subject to the last paragraph of the definition of the term “Collateral and Guarantee Requirement.”
(c) If, after the Effective Date, any Oil and Gas Properties having Proved Reserves, are acquired by the Borrower or (iii) any other Loan Party or are held by any Subsidiary on or after the time it becomes a Loan Party pursuant to effect otherwise the purposes of this Mortgage, including, without limitation: (A) executing and filing such financing or continuation statementsSection 5.11, or amendments thereto, as may be necessary or desirable or that through the Mortgagee may request in order to perfect and preserve the security interest created by this Mortgage as a first and prior security interest upon and security title in and to all development of the Collateral, whether now owned or hereafter acquired by Mortgagor; (B) if certificates of title are now or hereafter issued or outstanding with respect to any of the CollateralBorrower’s or any other Loan Parties’ Oil and Gas Properties, by immediately causing such Oil and Gas Properties become classified as Proved Reserves, the interest of Mortgagee Borrower will cause such assets to be properly noted thereon at Mortgagor's expense; and (C) furnishing subjected to a Lien securing the Secured Obligations solely to the Mortgagee from time extent required to time statements and schedules further identifying and describing the Collateral and such other reports maintain an Asset Coverage Ratio of not less than 1.75 to 1.00 in connection accordance with the Collateral as the Mortgagee may request, all in reasonable detail. Upon any failure by Mortgagor so to do, Mortgagee may make, execute, record, file, re-record and/or refile any and all such financing statements, continuation statements, or amendments thereto, certificates, and documents for and in the name of Mortgagor, and Mortgagor hereby irrevocably appoints Mortgagee the agent and attorney-in-fact of Mortgagor so to do. The lien of this Mortgage will automatically attach, without further act, to all after- acquired property attached to and/or used in the operation of the Collateral or any part thereofSection 5.11(d).
Appears in 1 contract
Samples: First Lien Credit Agreement (Brigham Minerals, Inc.)
Further Assurances; After-Acquired Property. (a) At any time, and from time to time, upon request by MortgageeXxxxxx, Mortgagor Borrower, at Borrower’s expense, will make, execute and deliver or cause to be made, executed and delivered to Mortgagee Lender and, where appropriate, to cause to be recorded and/or filed and from time to time thereafter to be rerecorded re-recorded and/or refiled at such time and in such offices and places as shall be deemed desirable by Mortgagee (i) to perfect Lender any and protect all such other and further mortgages, instruments of further assurance, certificates and other documents as may, in the security interest created or purported to be created hereby; (ii) to enable the Mortgagee to exercise and enforce its rights and remedies hereunder in respect opinion of the Collateral; or (iii) to effect otherwise the purposes of this MortgageLender, including, without limitation: (A) executing and filing such financing or continuation statements, or amendments thereto, as may be necessary or desirable or that the Mortgagee may request in order to perfect effectuate, complete, or perfect, or to continue and preserve the security interest created by obligation of Borrower under the Note and this Mortgage, and the priority of this Mortgage as a first and prior security interest lien upon and security title in and to all of the CollateralMortgaged Property, whether now owned or hereafter acquired by Mortgagor; (B) if certificates of title are now or hereafter issued or outstanding with respect to any of the Collateral, by immediately causing the interest of Mortgagee to be properly noted thereon at Mortgagor's expense; and (C) furnishing to the Mortgagee from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Mortgagee may request, all in reasonable detailBorrower. Upon any failure by Mortgagor Borrower so to do, Mortgagee Xxxxxx may make, execute, record, file, re-and record and/or refile any and all such financing statementsmortgages, continuation statements, or amendments theretoinstruments, certificates, and documents for and in the name of MortgagorXxxxxxxx, and Mortgagor Xxxxxxxx hereby irrevocably appoints Mortgagee Lender the agent and attorney-in-fact of Mortgagor Borrower so to do. The lien of this Mortgage and rights hereunder automatically will automatically attach, without further act, to all after- after-acquired property (except consumer goods, other than accessions, not acquired within ten (10) days after Lender has given value under the Note) attached to and/or used in the operation of the Collateral Mortgaged Property or any part thereof.
(b) Without limitation to the generality of the other provisions of this Mortgage, 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 Borrower by whatsoever means, including that in the event Borrower 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 Mortgage Borrower 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 Borrower or Lender or any other person or entity, be and become subject to this Mortgage and the lien hereof. In consideration of Xxxxxx’s making the Loan as aforesaid, and to secure the Loan, the Other Indebtedness and obligations set forth above, Borrower hereby grants, bargains, sells and conveys to Lender, on the same terms as set forth in this Mortgage and intended to be a part hereof, all such after-acquired property and estates.
Appears in 1 contract
Samples: Purchase and Sale Agreement
Further Assurances; After-Acquired Property. At any time, and from time to time, upon request by Mortgagee, Mortgagor will make, execute and deliver or cause to be made, executed and delivered delivered, to Mortgagee and, where appropriate, cause to be recorded and/or filed and from time to time thereafter to be rerecorded re-recorded and/or refiled re-filed at such time and in such offices and places as shall be reasonably deemed desirable by Mortgagee (i) Mortgagee, any and all such other and further mortgages to perfect and protect the secure debt or deeds of trust, security interest created or purported to be created hereby; (ii) to enable the Mortgagee to exercise and enforce its rights and remedies hereunder in respect of the Collateral; or (iii) to effect otherwise the purposes of this Mortgageagreements, includingfinancing statements, without limitation: (A) executing and filing such financing or continuation statements, or amendments theretoinstruments of further assurance, certificates and other documents as may may, in the opinion of Mortgagee, be necessary or desirable or that the Mortgagee may request in order to perfect effectuate, complete, or perfect, or to continue and preserve (a) the security interest created by obligations of Mortgagor under the Revolving Note and under this Mortgage, and (b) the lien of this Mortgage as a first and prior security interest lien upon and security title in and to all of the CollateralPremises, whether now owned or hereafter acquired by Mortgagor; (B) if certificates of title are now or hereafter issued or outstanding with respect to any of the Collateral, by immediately causing the interest of Mortgagee to be properly noted thereon at Mortgagor's expense; and (C) furnishing to the Mortgagee from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Mortgagee may request, all in reasonable detail. Upon any failure by Mortgagor so to do, Mortgagee may make, execute, record, file, re-record and/or refile re-file any and all such mortgages to secure debt or deeds of trust, security agreements, financing statements, continuation statements, or amendments theretoinstruments, certificates, and documents for and in the name of Mortgagor, Mortgagor and Mortgagor hereby irrevocably appoints Mortgagee the agent and attorney-in-fact of Mortgagor so to do. The lien of this Mortgage hereof will automatically attach, without further act, to all after- of Mortgagor's right, title, and interest in and to after acquired property attached to and/or used in the operation of the Collateral Premises or any part thereof.
Appears in 1 contract
Samples: Mortgage Security Agreement (Golf Trust of America Inc)