Common use of Further Encumbrances Clause in Contracts

Further Encumbrances. 15.1. Borrower shall not grant any other lien, mortgage or security interest encumbering the Mortgaged Property, nor make any further assignment of the leases and rentals of the Mortgaged Property, without the prior written consent of the Lender, which the Lender may grant or withhold in its sole discretion; any such unpermitted lien or mortgage or assignment or security interest shall entitle the Lender to accelerate the maturity of the Note and foreclose this Mortgage. Any such other lien or mortgage or assignment of security interest shall be junior to this Mortgage and to all permitted tenancies now or at any time in the future affecting the Mortgaged Property and shall be subject to all renewals, extensions, modifications, releases, interest rate increases, future advances, changes or exchanges permitted by this Mortgage, all without the joinder or consent of such junior lien holder or the mortgagee or assignee or security holder and without any obligation on the Lender's part to give notice of any kind to any of them. 15.2. Borrower shall maintain in good standing any other mortgage or encumbrance to secure debt affecting any part of the Mortgaged Property from time to time and shall not commit or permit or suffer to occur any default under such mortgages or encumbrances, nor shall Borrower accept any future advance under or modify the terms of any such mortgage or encumbrance which may then be superior to the lien of this Mortgage. 15.3. Notwithstanding anything to the contrary in the Note, this Mortgage, or any other Loan Document, if a default should occur under any other lien, claim or other encumbrance against the Mortgaged Property, whether such lien, claim or other encumbrance is alleged to be superior or inferior to the lien of this Mortgage, the Lender may immediately, declare this Mortgage and the debt secured by it to be due and payable and may, at its option, without notice, proceed to foreclose this Mortgage and any other Loan Documents.

Further Encumbrances. 15.117.1. Except as otherwise permitted under the Credit Agreement, Borrower shall not grant any other lien, mortgage or security interest encumbering the Mortgaged Property, nor make any further assignment of the leases and rentals of the Mortgaged Property, without the prior written consent of the LenderCollateral Agent, which the Lender Collateral Agent may grant or withhold in its sole discretion; any such unpermitted lien or mortgage or assignment or security interest shall entitle the Lender Collateral Agent to accelerate the maturity of the Note loan and foreclose this Mortgage. Any such other lien or mortgage or assignment of security interest shall be junior to this Mortgage and to all permitted tenancies now or at any time in the future affecting the Mortgaged Property and shall be subject to all renewals, extensions, modifications, releases, interest rate increases, future advances, changes or exchanges permitted by this Mortgage, all without the joinder or consent of such junior lien holder or the mortgagee or assignee or security holder and without any obligation on the Lender's Collateral Agent’s part to give notice of any kind to any of them. 15.217.2. Borrower shall maintain in good standing any other mortgage or encumbrance to secure debt affecting any part of the Mortgaged Property from time to time and shall not commit or permit or suffer to occur any default under such mortgages or encumbrances, nor shall Borrower accept any future advance under or modify the terms of any such mortgage or encumbrance which may then be superior to the lien of this Mortgage. 15.317.3. Notwithstanding anything to the contrary in the Note, Credit Agreement or this Mortgage, or any other Loan Document, if a default foreclosure proceedings should occur under any other lien, claim or other encumbrance be initiated and unstayed against the Mortgaged Property, upon any lien or claim other than this Mortgage, whether such lien, claim or other encumbrance is alleged to be superior or inferior to the lien of this Mortgage, the Lender Collateral Agent may immediatelyimmediately upon institution of such proceedings, or at any time during the pendency of them, declare this Mortgage and the debt secured by it to be due and payable and may, at its option, without notice, proceed to foreclose this Mortgage and any other Loan DocumentsMortgage.

Further Encumbrances. 15.1. Borrower Mortgagor shall not grant any other lien, lien or mortgage on all or security any part of the Security Property or any interest encumbering the Mortgaged Property, therein nor make any further assignment of the leases Leases and rentals of the Mortgaged Property, Security Property without the prior written consent of the LenderMortgagee, which the Lender Mortgagee may grant or withhold in its sole discretion; any such unpermitted lien or mortgage or assignment or security interest by Mortgagor, being herein called an "ENCUMBRANCE", shall entitle Mortgagee to declare the Lender Obligations immediately due and payable and to accelerate the maturity of the Note and foreclose this Mortgage. Any such other lien or mortgage or assignment of security interest shall be junior to this Mortgage and to all permitted tenancies now or at any time in the future hereafter affecting the Mortgaged Security Property or any portion thereof and shall be subject to all renewals, extensions, modifications, releases, interest rate increases, future advances, changes or exchanges permitted by this Mortgage, all without the joinder or consent of such junior lien holder lienholder or the mortgagee or assignee or security holder and without any obligation on the LenderMortgagee's part to give notice of any kind to any of them. 15.2thereto. Borrower Mortgagor shall maintain in good standing any other mortgage or encumbrance to secure debt affecting any part of the Mortgaged Security Property from time to time and shall not commit or permit or suffer to occur any default under such mortgages or encumbrancesthereunder, nor shall Borrower Mortgagor accept any future advance under or modify the terms of any such mortgage or encumbrance which may then be superior to the lien of this Mortgage. 15.3. Notwithstanding anything Except for encumbrances permitted by Mortgagee, Mortgagor shall not commit or permit or suffer to occur any act or omission whereby any of the contrary in the Note, security represented by this MortgageMortgage shall be impaired or threatened, or whereby any other Loan Documentof the Security Property or any interest therein shall become subject to any attachment, if a default should occur under any other judgment, lien, claim charge or other encumbrance against the Mortgaged Propertywhatsoever, whether and Mortgagor shall immediately cause any such attachment, judgment, lien, claim charge or other encumbrance is alleged to be superior discharged or inferior otherwise bonded or transferred to other security. Mortgagor shall not directly or indirectly do anything or take any action which might prejudice any of the lien right, title or interest of this Mortgage, Mortgagee in or to any of the Lender may immediately, declare this Mortgage and Security Property or impose or create any direct or indirect obligation or liability on the debt secured by it part of Mortgagee with respect to be due and payable and may, at its option, without notice, proceed to foreclose this Mortgage and any other Loan Documentsof the Security Property.

Further Encumbrances. 15.1. Borrower (a) Except as expressly permitted under the Subordinated Loan Agreement in respect of the lien on the Collateral (other than the First Collateral) securing Senior Debt, Grantor shall not grant any other lien, security interest, pledge, deed of trust, assignment, mortgage or security other hypothecation on all or any part of the Collateral or any interest encumbering the Mortgaged Property, therein nor make any further assignment of the leases Leases and rentals of the Mortgaged Property, Collateral without the prior written consent of the LenderBeneficiary, which the Lender Beneficiary may grant or withhold in its sole discretion; any such unpermitted lien or lien, security interest, pledge, deed of trust, assignment , mortgage or assignment or security interest hypothecation by Grantor, being herein called an "Encumbrance", shall entitle Beneficiary to declare the Lender Obligations immediately due and payable and to accelerate the maturity of the Note and foreclose this MortgageDeed of Trust. Any Without intending to waive the rights of consent granted to Beneficiary herein: (i) any and all such other lien or mortgage or assignment of security interest Encumbrances shall be junior to this Mortgage Deed of Trust and to all permitted tenancies now or at any time in the future hereafter affecting the Mortgaged Property Collateral or any portion thereof and shall be subject to all renewals, extensions, modifications, releases, interest rate increases, future advances, changes or exchanges permitted by this MortgageDeed of Trust, all without the joinder or consent of such junior lien holder lienholder, secured party, pledgee, or the mortgagee or assignee or security holder and without any obligation on the LenderBeneficiary's part to give notice of any kind to any of them.thereto; and 15.2. Borrower (ii) Grantor shall maintain in good standing any other mortgage or encumbrance Encumbrance to secure debt affecting any part of the Mortgaged Property Collateral from time to time and shall not commit or permit or suffer to occur any default under such mortgages or encumbrancesthereunder, nor shall Borrower Grantor accept any future advance under or modify the terms of any such mortgage or encumbrance Encumbrance which may then be superior to the lien of this Mortgage. 15.3Deed of Trust. Notwithstanding anything Except for Encumbrances permitted by Beneficiary, Grantor shall not commit or permit or suffer to occur any act or omission whereby any of the contrary in the Note, security represented by this MortgageDeed of Trust shall be impaired or threatened, or whereby any other Loan Documentof the Collateral or any interest therein shall become subject to any attachment, if a default should occur under any other judgment, lien, claim charge or other encumbrance against the Mortgaged Propertywhatsoever, whether and Grantor shall immediately cause any such attachment, judgment, lien, claim charge or other encumbrance is alleged to be superior discharged or inferior otherwise bonded or transferred to other security. Grantor shall not directly or indirectly do anything or take any action that might prejudice any of the lien right, title or interest of this MortgageBeneficiary in or to any of the Collateral or impose or create any direct or indirect obligation or liability on the part of Beneficiary with respect to any of the Collateral. (b) Grantor will comply with and will punctually perform all of the covenants, agreements and obligations imposed upon it or the Lender may immediatelyCollateral under the Permitted Exceptions in accordance with the terms, declare this Mortgage provisions and the debt secured by it to be due and payable and mayconditions contained therein, at its optionincluding, without noticelimitation, proceed Grantor's obligation to foreclose this Mortgage and pay all amounts secured, evidenced or required thereby. Grantor will not modify or permit any other Loan Documentsmodification of any of the Permitted Exceptions without the prior written consent of Beneficiary.