Future Advances. This Mortgage is (a) and Open-End Mortgage under 42 Pa. C.S.A. Section 8143 and (b) given to secure, among other things, indebtedness of the Mortgagor under the Credit Agreement and shall secure not only presently existing indebtedness and Secured Obligations of Borrower under the Credit Agreement (and Mortgagor under the Subsidiary Guaranty) but also future indebtedness of Borrower under the Credit Agreement (and Mortgagor under the Subsidiary Guaranty), whether such indebtedness is obligatory or at the option of Mortgagee, or otherwise, to the same extent as if such future indebtedness was made on the date of the execution of this Mortgage, although there may be no outstanding indebtedness of Mortgagor at the time of execution of this Mortgage. The lien of this Mortgage shall be valid as to all Secured Obligations, including future indebtedness of Mortgagor. The total amount of indebtedness secured hereby may increase or decrease from time to time, but the total unpaid principal balance of indebtedness secured hereby (including disbursements that the Lenders may, but shall not be obligated to, make under this Mortgage, the Loan Documents or any other document with respect thereto) at any one time outstanding may be substantially less but shall not exceed Seventy-One Million Five Hundred Thousand and No/100 Dollars ($71,500,000.00), plus interest thereon, and any disbursements made for the enforcement of this Mortgage and the other Loan Documents and any remedies hereunder, payment of taxes, special assessments, utilities or insurance on the Property or any other Project and interest on such disbursements and all disbursements by Mortgagee pursuant to applicable law (all such indebtedness being hereinafter referred to as the maximum amount secured hereby). This Mortgage shall be valid and have priority to the extent of the maximum amount secured hereby over all subsequent liens and encumbrances, including statutory liens, excepting solely taxes and assessments levied on the Property given priority by law.
Future Advances. The proceeds of such Mortgage Loan have been fully disbursed (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs or other matters with respect to the Mortgaged Property), and there is no requirement for future advances thereunder by the mortgagee.
Future Advances. In addition to the Note, this Agreement secures all future advances made by Lender to Grantor regardless of whether the advances are made a) pursuant to a commitment or b) for the same purposes.
Future Advances. This Mortgage shall secure all Obligations including, without limitation, future advances whenever hereafter made with respect to or under the Credit Agreement or the other Loan Documents and shall secure not only Obligations with respect to presently existing indebtedness under the Credit Agreement or the other Loan Documents, but also any and all other indebtedness which may hereafter be owing by the Mortgagor to the Secured Parties under the Credit Agreement or the other Loan Documents, however incurred, whether interest, discount or otherwise, and whether the same shall be deferred, accrued or capitalized, including future advances and re-advances, pursuant to the Credit Agreement or the other Loan Documents, whether such advances are obligatory or to be made at the option of the Secured Parties, or otherwise, and any extensions, refinancings, modifications or renewals of all such Obligations whether or not Mortgagor executes any extension agreement or renewal instrument and, in each case, to the same extent as if such future advances were made on the date of the execution of this Mortgage.
Future Advances. This Mortgage is given to, and the parties intend that it shall secure indebtedness, exclusive of interest thereon, in a maximum amount equal to the Aggregate Commitment from time to time under the Credit Agreement which shall be an amount up to $150,000,000 which indebtedness may include advances made at the request of Mortgagor or its respective successor(s) in title after this Mortgage is filed of record to the fullest extent and with the highest priority contemplated by law (including disbursements that the Lenders may, but shall not be obligated to, make under this Mortgage, the Loan Documents or any other document with respect thereto) plus interest thereon, and any disbursements made for the enforcement of this Mortgage and any remedies hereunder, payment of taxes, special assessments, utilities or insurance on the Property and interest on such disbursements and all disbursements by Mortgagee pursuant to applicable law (all such indebtedness being hereinafter referred to as the maximum amount secured hereby). This Mortgage shall be valid and have priority to the extent of the maximum amount secured hereby over all subsequent liens and encumbrances, including statutory liens, excepting solely taxes and assessments levied on the Property given priority by law. All future advances under the Credit Agreement, the Notes, this Mortgage and the other Loan Documents shall have the same priority as if the future advance was made on the date that this Mortgage was recorded
Future Advances. (a) Upon an Obligor request for a Future Advance with respect to any Future Advance Mortgage Asset, the Issuer shall within two (2) Business Days thereof provide notice thereof to the Collateral Agent, the Loan Agent, the Servicer and the Class A Lender. In the event that the Issuer, as holder of a Future Advance Mortgage Asset, is required make a Future Advance under the related Mortgage Asset Documents to the related Obligor under such Mortgage Asset, the Issuer shall provide notice thereof to the Collateral Agent, the Loan Agent, the Servicer and the Class A Lender. Such notice of a required Future Advance shall identify the related Future Advance Mortgage Asset and shall include the intended Additional Funding Date (if applicable), a description of how the related Obligor has satisfied the applicable funding conditions in the related Mortgage Asset Documents and the then current principal balance of such Future Advance Mortgage Asset. Such notice shall also include copies of all documentation submitted by the related Obligor in connection with the applicable Future Advance. The Issuer shall provide the Class A Lender with any additional information as the Class A Lender shall reasonably request regarding such proposed Future Advance. No Additional Funding Date (if applicable) related to such Future Advance shall be sooner than ten (10) Business Days’ after the Class A Lender’s receipt of all requested information regarding the requested Future Advance (it being acknowledged that Class A Lender may agree to a shorter period on a case-by-case basis).
(b) In the event that there are sufficient Permitted Principal Proceeds on deposit in the Replenishment Reserve Account to fund the entirety of any such Future Advance for which Issuer has provided notice in accordance with Section 12.3(a) above, the Issuer shall fund such Future Advance with funds on deposit in the Replenishment Reserve Account, subject to the satisfaction of the Future Advance Funding Conditions.
(c) Solely in the event that Permitted Principal Proceeds on deposit in the Replenishment Reserve Account are insufficient to fund the entirety of any such Future Advance for which Issuer has provided notice in accordance with Section 12.3(a) above, (i) the Issuer shall fund such Future Advance to the extent of all Permitted Principal Proceeds on deposit in the Replenishment Reserve Account in accordance with Section 12.3(b) above and (ii) the Class A Lender shall make an Additional Class A Loan o...
Future Advances. (i) From time to time during the Availability Period, in connection with the making of a future advance to the Borrower under a Future Advance Purchased Asset, Seller may request an increase of the Purchase Price of such Future Advance Purchased Asset; provided that Seller shall not request more than one (1) increase with respect to the same Purchased Asset during any calendar month. Any approval by Purchaser of such increase of the Purchase Price shall be in writing and given or denied at Purchaser’s sole and absolute discretion.
(ii) If such approval for a Purchase Price increase is granted, Purchaser’s funding of such increase shall be subject to the satisfaction of the following conditions:
(A) at least ten (10) Business Days prior to the requested Purchase Price increase date, Seller shall have requested such increase in writing and delivered to Purchaser (1) copies of all documentation submitted by Borrower in connection with the applicable future advance and (2) evidence that all conditions precedent to such future advance under the related Purchased Asset Documents have been satisfied or will be satisfied as of the date of the related funding (or, if any conditions will not be satisfied, written request for Purchaser’s waiver of such conditions to the extent such waiver would be a Significant Modification hereunder);
(B) the amount of the requested Purchase Price increase is at least $250,000;
(C) Purchaser shall have determined to its satisfaction that (1) there is no monetary Default or material non-monetary Default then existing or likely to occur under such Purchased Asset, (2) all conditions precedent to such future advance under the related Purchased Asset Documents have been duly satisfied or waived to Purchaser’s reasonable satisfaction and (3) any additional conditions imposed by Purchaser with respect to such future advance, as specified in the related Confirmation, have been duly satisfied or waived by Purchaser in writing;
(D) delivery by Seller to Purchaser of an amended and restated Confirmation for the applicable Transaction which reflects the increase in the Purchase Price signed by a Responsible Officer of Seller (provided, however, that Purchaser shall not be liable to Seller if it inadvertently acts on a Confirmation that has not been signed by a Responsible Officer of Seller), and delivery by Purchaser to Seller of a countersigned copy of such amended and restated Confirmation;
(E) immediately after giving effect to the requeste...
Future Advances. This Agreement shall secure the payment of any amounts advanced from time to time pursuant to the Credit Agreement.
Future Advances. I waive notice of and consent to any and all future advances made to the Borrower by you.
Future Advances. 22 SECTION 2.4 No Release............................................................ 22
