Common use of Further Assurances; Authorization to File Documents; No Merger Clause in Contracts

Further Assurances; Authorization to File Documents; No Merger. At any time, and from time to time, upon request by Lender, Borrower will, at Borrower’s expense, (a) correct any defect, error or omission which may be discovered in the form or content of any of the Loan Documents, and (b) make, execute, deliver and record, or cause to be made, executed, delivered and recorded, any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to complete, perfect or continue and preserve the lien of the Mortgage. Upon any failure by Borrower to do so, Lender may make, execute and record any and all such instruments, certificates and other documents for and in the name of Borrower, all at the sole expense of Borrower, and Borrower hereby appoints Lender the agent and attorney-in-fact of Borrower to do so, this appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, Borrower irrevocably authorizes Lender at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements deemed necessary or desirable by Lender to establish or maintain the validity, perfection and priority of the security interests granted in the Mortgage, and Borrower ratifies any such filings made by Lender prior to the date hereof. In addition, at any time, and from time to time, upon request by Lender, Borrower will, at Borrower’s expense, provide any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to verify the Borrower’s identity and background in a manner satisfactory to Lender.

Appears in 5 contracts

Samples: Term Loan Agreement, Term Loan Agreement, Term Loan Agreement (Inland Real Estate Income Trust, Inc.)

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Further Assurances; Authorization to File Documents; No Merger. At any time, and from time to time, upon request by Lender, each Borrower will, at Borrower’s Borrowers’ expense, (a) correct any defect, error or omission which may be discovered in the form or content of any of the Loan Documents, and (b) make, execute, deliver and record, or cause to be made, executed, delivered and recorded, any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to complete, perfect or continue and preserve the lien of any of the MortgageSecurity Instruments. Upon any failure by any Borrower to do so, Lender may make, execute and record any and all such instruments, certificates and other documents for and in the name of such Borrower, all at the sole expense of such Borrower, and each Borrower hereby appoints Lender the agent and attorney-in-fact of such Borrower to do so, this appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, each Borrower irrevocably authorizes Lender at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements deemed necessary or desirable by Lender to establish or maintain the validity, perfection and priority of the security interests granted in any of the MortgageSecurity Instruments, and each Borrower ratifies any such filings made by Lender prior to the date hereof. In addition, at any time, and from time to time, upon request by Lender, each Borrower will, at such Borrower’s expense, provide any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to verify the such Borrower’s identity and background in a manner satisfactory to Lender.

Appears in 3 contracts

Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

Further Assurances; Authorization to File Documents; No Merger. At any time, and from time to time, upon within ten (10) business days following any written request by the Lender, the Borrower will, at the Borrower’s 's expense, (a) promptly correct any defect, error or omission which may be discovered in any Loan Document, (b) execute, acknowledge, deliver, procure, record or file such further instruments and do such further acts as the form Lender reasonably deems necessary, desirable or content of any proper to carry out the purposes of the Loan DocumentsDocuments and to identify and subject to the liens and security interests of the Loan Documents any property intended to be covered thereby, including any renewals, additions, substitutions, replacements or appurtenances thereto, (c) execute, acknowledge, deliver, procure, file or record any document or instrument the Lender reasonably deems necessary, desirable or proper to protect the liens or the security interest under the Loan Documents against the rights or interests of third persons, and (bd) makeprovide such certificates, executedocuments, deliver and recordreports, or cause to be madeinformation, executed, delivered and recorded, any and all further instruments, certificates affidavits and other documents as mayinstruments and do such further acts reasonably deemed necessary, in desirable or proper by the opinion Lender to comply with the requirements of any governmental authority having jurisdiction over the Lender, be necessary or desirable in order to complete, perfect or continue and preserve the lien of the Mortgage. Upon any failure by the Borrower to do soso after the Lender's written request and a reasonable opportunity to comply, the Lender may make, execute and record any and all such instruments, certificates and other documents for and in the name of Borrowerthe Borrower or the Guarantors, all at the sole expense of the Borrower, and the Borrower hereby appoints the Lender the agent and attorney-in-fact of the Borrower and the Guarantors to do so, this appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, the Borrower irrevocably authorizes the Lender at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements deemed necessary or desirable by the Lender to establish or maintain the validity, perfection and priority of the security interests granted in under the MortgageLoan Documents, and the Borrower ratifies any such filings made by the Lender prior to the date hereof. In addition, at any time, and from time to time, upon request by Lender, Borrower will, at Borrower’s expense, provide any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to verify the Borrower’s identity and background in a manner satisfactory to Lender.

Appears in 2 contracts

Samples: Loan Agreement (LiquidValue Development Inc.), Loan Agreement (HF Enterprises Inc.)

Further Assurances; Authorization to File Documents; No Merger. At any time, and from time to time, upon request by Lender, Borrower will, at Borrower’s expense, (a) correct any defect, error or omission which may be discovered in the form or content of any of the Loan Documents, and (b) make, execute, deliver and record, or cause to be made, executed, delivered and recorded, any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to complete, perfect or continue and preserve the lien of the MortgageDeed of Trust. Upon any failure by Borrower to do so, Lender may make, execute and record any and all such instruments, certificates and other documents for and in the name of Borrower, all at the sole expense of Borrower, and Borrower hereby appoints Lender the agent and attorney-in-fact of Borrower to do so, this appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, Borrower irrevocably authorizes Lender at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements deemed necessary or desirable by Lender to establish or maintain the validity, perfection and priority of the security interests granted in the MortgageDeed of Trust, and Borrower ratifies any such filings made by Lender prior to the date hereof. In addition, at any time, and from time to time, upon request by Lender, Borrower will, at Borrower’s expense, provide any and all further instruments, certificates and other documents as may, in the opinion of Lender, be necessary or desirable in order to verify the Borrower’s identity and background in a manner satisfactory to Lender.

Appears in 1 contract

Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

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Further Assurances; Authorization to File Documents; No Merger. At any time, and from time to time, upon request by the Lender, the Borrower will, at the Borrower’s 's expense, (a) correct any defect, error or omission which may be discovered in the form or content of any of the Loan Documents, and (b) make, execute, deliver and record, or cause to be made, executed, delivered and recorded, any and all further instruments, certificates and other documents as may, in the opinion of the Lender, be necessary or desirable in order to complete, perfect or continue and preserve the lien of the MortgageDeed of Trust. Upon any failure by the Borrower to do so, the Lender may make, execute and record any and all such instruments, certificates and other documents for and in the name of the Borrower, all at the sole expense of the Borrower, and the Borrower hereby appoints the Lender the agent and attorney-in-fact of the Borrower to do so, this appointment being coupled with an interest and being irrevocable. Without limitation of the foregoing, the Borrower irrevocably authorizes the Lender at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements deemed necessary or desirable by the Lender to establish or maintain the validity, perfection and priority of the security interests granted in the MortgageDeed of Trust or hereunder, and the Borrower ratifies any such filings made by the Lender prior to the date hereof. In addition, at any time, and from time to time, upon request by the Lender, the Borrower will, at the Borrower’s 's expense, provide any and all further instruments, certificates and other documents as may, in the opinion of the Lender, be necessary or desirable in order to verify the Borrower’s 's identity and background in a manner satisfactory to the Lender. As a material inducement to the Lender to enter into this Agreement, the Borrower acknowledges and agrees that each of its Indemnification Agreements (as that term is defined below) (a) is a continuing, separate agreement that shall survive the termination of this Agreement, the other Loan Documents and the payment and performance of all of the other Obligations and (b) shall not be merged with any judgment or judgments with respect to the Obligations. The term "Indemnification Agreements" means the collective reference to each provision of this Agreement or any of the Loan Documents for indemnification of the Lender, its parent, Affiliates and/or their respective officers, directors, shareholders, employees, attorneys, other professionals, and agents and to each of the agreements of the Borrower to pay or reimburse the Lender for costs and expenses (including attorneys' fees) of collection or otherwise.

Appears in 1 contract

Samples: Construction Loan Agreement (HF Enterprises Inc.)

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