Common use of Future Liens on Real Property Clause in Contracts

Future Liens on Real Property. The Borrower shall, and shall cause each of its Subsidiaries that is required to guarantee the Obligations to, execute and deliver to the Lender, immediately upon its acquisition or leasing of any real property after the date hereof, a mortgage, deed of trust, collateral assignment or other appropriate instrument evidencing a Lien upon any such acquired property, lease or interest, to be in form and substance reasonably acceptable to the Lender and subject only to such Liens as otherwise shall be permitted by this Agreement and the Borrower or the applicable Subsidiary, as the case may be, shall have provided the Lender with such opinions, landlord and mortgagee waivers or title insurance as the Lender shall have reasonably requested in connection with such acquisition or leasing of real property. The foregoing provision shall not apply to Excluded Real Property and shall apply to the leasing of any real property only if (i) the term of such lease (without regard to any extension thereof at then current market rent) is more than five years or (ii) such lease has a material value by reason of a purchase option, below-market rent or otherwise.

Future Liens on Real Property. The Borrower shall, and shall cause each of its Subsidiaries that is required to guarantee the Obligations to, execute and deliver to the LenderAgent, immediately upon its acquisition or leasing of any real property after the date hereof, a mortgage, deed of trust, collateral assignment or other appropriate instrument evidencing a Lien upon any such acquired property, lease or interest, to be in form and substance reasonably acceptable to the Lender Lenders and subject only to such Liens as otherwise shall be 51 Credit Agreement permitted by this Agreement and the Borrower or the applicable Subsidiary, as the case may be, shall have provided the Agent or any Lender with such opinions, landlord and mortgagee waivers or title insurance as the Agent or any Lender shall have reasonably requested in connection with such acquisition or leasing of real property. The foregoing provision shall not apply to Excluded Real Property and shall apply to the leasing of any real property only if (i) the term of such lease (without regard to any extension thereof at then current market rent) is more than five years or (ii) such lease has a material value by reason of a purchase option, below-market rent or otherwise.

Future Liens on Real Property. The Borrower shall, and shall ----------------------------- cause each of its Subsidiaries that is required to guarantee the Obligations to, execute and deliver to the Lender, immediately upon its acquisition or leasing of any real property after the date hereof, a mortgage, deed of trust, collateral assignment or other appropriate instrument evidencing a Lien upon any such acquired property, lease or interest, to be in form and substance reasonably acceptable to the Lender and subject only to such Liens as otherwise shall be permitted by this Agreement and the Borrower or the applicable Subsidiary, as the case may be, shall have provided the Lender with such opinions, landlord and mortgagee waivers or title insurance as the Lender shall have reasonably requested in connection with such acquisition or leasing of real property. The foregoing provision shall not apply to Excluded Real Property and shall apply to the leasing of any real property only if (i) the term of such lease (without regard to any extension thereof at then current market rent) is more than five years or (ii) such lease has a material value by reason of a purchase option, below-market rent or otherwise.