Common use of Grant of Mortgage Clause in Contracts

Grant of Mortgage. In consideration of the premises and of other good and valuable consideration, the receipt and adequacy whereof are hereby acknowledged, and in order to secure the due and punctual payment of the Secured Obligations and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, and the other Loan Documents, the Owner does by these presents grant, convey and mortgage by way of first preferred mortgage to and in favor of the Mortgagee, its successors and assigns, the whole of the Vessel TO HAVE AND TO HOLD the same unto the Mortgagee, its successors and assigns upon the terms set forth in this Mortgage for the enforcement of the payment of the Secured Obligations and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, and the other Loan Documents; PROVIDED, ONLY, and the conditions of these presents are such that, if the Owner and/or its successors or assigns shall pay or cause to be paid to the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement and the other Loan Documents and shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan Documents, expressed or implied, to be performed, observed or complied with by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights of the Mortgagee under this Mortgage shall cease and determine and, in such event, the Mortgagee agrees by accepting this Mortgage, at the expense of the Owner, to execute all such documents as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx Islands.

Grant of Mortgage. In consideration of the premises and of other good and valuable consideration, the adequacy and receipt and adequacy whereof are hereby acknowledged, and in order to secure the due and punctual payment of the Secured Obligations and the repayment of any costs of foreclosure or of retaking the Vessel, and the payment of all such other amounts as may hereafter become secured by this Mortgage in accordance with the terms hereof, and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, the Indenture, and the other Loan DocumentsSecurity Documents to which the Shipowner is a party, the Owner Shipowner has granted, conveyed, pledged and mortgaged and does by these presents grant, convey convey, pledge and mortgage by way of first preferred mortgage to and in favor of the Mortgagee, its successors and assigns, assigns the whole of the Vessel, together with all of the boilers, engines, machinery, masts, spars, rigging, boats, cables, anchors, chains, tackle, apparel, furniture, fittings, freights and equipment thereunto appertaining or belonging, whether now owned or hereafter acquired, whether on board or not, and all additions, improvements and replacements hereafter made in or to the Vessel TO HAVE AND TO HOLD (the term "Vessel", as used herein, shall include the Vessel together with all of the foregoing and the Vessel's freights) To Have And To Hold the same unto the Mortgagee, its successors and assigns assigns, forever upon the terms set forth in this Mortgage for the enforcement of the payment of the Secured Obligations Obligations, the payment of any costs of foreclosure or retaking of the Vessel and all such other amounts as may hereafter become secured by this Mortgage in accordance with the terms hereof and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, Mortgage and the Security Documents, it being agreed that if any amount payable by the Shipowner under the Indenture is not paid on its due date (whether formally demanded or not) the whole or the balance of the Obligations and all other Loan Documentsamounts payable under the Indenture and the Security Documents shall forthwith on demand become payable; PROVIDEDprovided, ONLYhowever, and the conditions of these presents are such that, if the Owner and/or its successors or assigns Shipowner shall pay or cause to be paid to the Creditors, their respective successors and assigns, Mortgagee all of the Secured Obligations as and when set forth in the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement Indenture and the other Loan Documents Security Documents, and if the Shipowner shall pay all such other amounts as may hereafter become secured by this Mortgage and all expenses which the Mortgagee shall have paid or incurred to protect the security granted hereunder, and if the Shipowner shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in this Mortgage, the Credit Agreement, this Mortgage Indenture and the other Loan DocumentsSecurity Documents contained, expressed or implied, to be performed, observed or complied with by and on the part of the Owner Shipowner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereoftherefor, then, then these presents and the rights of the Mortgagee under this Mortgage Mortgage, the Indenture and the other Security Documents shall cease and determine and, in such event, the Mortgagee agrees by accepting this MortgageMortgage to execute, at the expense of the OwnerShipowner, to execute all such documents as the Owner Shipowner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx IslandsLiberia; otherwise this Mortgage shall remain in full force and effect.

Grant of Mortgage. In The Mortgagor, for the purpose of securing the prompt payment of indebtedness as it becomes due and also for and in consideration of the premises sum of Ten and No/100 Dollars ($10.00) to it in hand paid by the Mortgagee, at or before the ensealing and delivery of other good and valuable considerationthese presents, the receipt and adequacy whereof are is hereby acknowledged, has granted, bargained, sold, released, conveyed, and confirmed, and by these presents does grant, bargain, sell, alien, release, convey, and confirm unto the Mortgagee forever all that tract or parcel of land situated, lying and being in order the County of Xxx, State of Florida, described as follows, to-wit: See attached Exhibit “A” Together with all and singular the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining, and any and all buildings, improvements, and fixtures now or hereafter existing on the real property, and any and all personal property used or to secure the due and punctual payment of the Secured Obligations and to secure the performance and observance of and compliance be used in connection with the covenants, terms and conditions contained in operation of any business on the Credit Agreement, this Mortgageproperty whether or not attached to the land, and the other Loan Documentsreversion or reversions, remainder and remainders, rents, issues and profits thereof, and also in all the Owner does by these presents grantestate, convey rights, title, interest, property, possession, claim and mortgage by way of first preferred mortgage to and demand whatsoever, as well as in favor law as in equity of the MortgageeMortgagor, its successors of, in, and assignsto the same, and every part and parcel thereof with the whole of appurtenances. To have and to hold the Vessel TO HAVE AND TO HOLD herein granted and described premises with the same appurtenances unto the Mortgagee, to its successors own proper use, benefit, and assigns upon behoof forever; and the terms set forth in this Mortgage for the enforcement of the payment of the Secured Obligations and to secure the performance and observance of and compliance said Mortgagor does covenant with the covenants, terms Mortgagee that it is seized of an indefeasible estate in fee simple in such premises and conditions contained in will warrant and forever defend the Credit Agreement, this Mortgage, and the other Loan Documents; PROVIDED, ONLY, and the conditions of these presents are such that, if the Owner and/or its successors or assigns shall pay or cause to be paid to the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement and the other Loan Documents and shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan Documents, expressed or implied, to be performed, observed or complied with by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights of title thereof unto the Mortgagee under this Mortgage shall cease and determine and, in such event, the Mortgagee agrees by accepting this Mortgage, at the expense of the Owner, to execute against all such documents as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx Islandslawful claims whatsoever.

Grant of Mortgage. In consideration of the premises and of other good and valuable consideration, the receipt and adequacy whereof are hereby acknowledged, and in order to secure the due and punctual payment of the Secured Obligations and to secure the its performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, Mortgage and the other Loan DocumentsDebt Documents to which it is a party, the Owner has granted, conveyed and mortgaged and does by these presents grant, convey and mortgage by way of first preferred mortgage to and in favor of the Mortgagee, its successors and assigns, the whole of the Vessel TO HAVE AND TO HOLD the same unto the Mortgagee, its successors and assigns assigns, forever, upon the terms set forth in this Mortgage for the enforcement of the payment of the Secured Obligations and to secure the its performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, Mortgage and the other Loan DocumentsDebt Documents to which it is a party; PROVIDED, ONLY, and the conditions condition of these presents are such that, if the Owner and/or its successors or assigns shall pay or cause to be paid to the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement Mortgage and the other Loan Debt Documents to which it is a party and shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan DocumentsDebt Documents to which it is a party, expressed or implied, to be performed, observed or complied with by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights of the Mortgagee under this Mortgage shall cease and determine and, in such event, the Mortgagee agrees by accepting this Mortgage, at the expense of the Owner, to execute all such documents as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx IslandsVanuatu otherwise to be and remain in full force and effect.

Grant of Mortgage. In consideration of the premises and of other good and valuable consideration, the receipt and adequacy whereof are hereby acknowledged, and in order to secure the due and punctual payment of the Secured Obligations and to secure the its performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, Mortgage and the other Loan DocumentsDebt Documents to which it is a party, the Owner has granted, conveyed and mortgaged and does by these presents grant, convey and mortgage by way of first preferred mortgage to and in favor of the Mortgagee, its successors and assigns, the whole of the Vessel Vessels TO HAVE AND TO HOLD the same unto the Mortgagee, its successors and assigns assigns, forever, upon the terms set forth in this Mortgage for the enforcement of the payment of the Secured Obligations and to secure the its performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, Mortgage and the other Loan DocumentsDebt Documents to which it is a party; PROVIDED, ONLY, and the conditions condition of these presents are such that, if the Owner and/or its successors or assigns shall pay or cause to be paid to the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement Mortgage and the other Loan Debt Documents to which it is a party and shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan DocumentsDebt Documents to which it is a party, expressed or implied, to be performed, observed or complied with by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights of the Mortgagee under this Mortgage shall cease and determine and, in such event, the Mortgagee agrees by accepting this Mortgage, at the expense of the Owner, to execute all such documents as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic United States of the Xxxxxxxx IslandsAmerica otherwise to be and remain in full force and effect.

Grant of Mortgage. In consideration To secure the full and timely payment, performance and discharge of the premises Obligations, Mortgagor hereby irrevocably MORTGAGES, GRANTS, BARGAINS, SELLS, ENFEOFFS, ASSIGNS, TRANSFERS and of other good CONVEYS unto Mortgagee and valuable consideration, the receipt and adequacy whereof are hereby acknowledged, and in order to secure the due and punctual payment of the Secured Obligations and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, and the other Loan Documents, the Owner does by these presents grant, convey and mortgage by way of first preferred mortgage to and in favor of the Mortgagee, its 's successors and assigns, as arranger and administrative agent for the whole Lenders pursuant to the terms of the Vessel Loan Agreement, for the use and benefit of Mortgagee, the real and personal property, rights, titles, interests and estates constituting the Mortgaged Property, subject, however, to the Permitted Encumbrances; TO HAVE AND TO HOLD the same Mortgaged Property unto Mortgagee and Mortgagee's successors and assigns, subject to the Mortgageeterms and conditions of this Mortgage, forever, and Mortgagor does hereby bind itself, its successors and assigns upon to WARRANT AND FOREVER DEFEND the terms set forth in this Mortgage for title to the enforcement of Mortgaged Property unto Mortgagee against every person whomsoever lawfully claiming or to claim the payment of same or any part thereof, subject only to the Secured Obligations and to secure the performance and observance of and compliance with the covenantsPermitted Encumbrances; provided, terms and conditions contained in the Credit Agreementhowever, this Mortgage, and the other Loan Documents; PROVIDED, ONLY, and the conditions of these presents are such that, that if the Owner and/or its successors or assigns Mortgagor shall pay (or cause to be paid to paid) the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement and the other Loan Documents and shall perform, observe perform and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan Documents, expressed discharge (or implied, cause to be performedperformed and discharged) the Obligations on or before the date the same are to be performed and discharged, observed or complied with then the mortgage interests, liens, security interests, estates and rights granted by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights of the Mortgagee under this Mortgage shall cease and determine and, in such eventterminate. Notwithstanding the foregoing, the Mortgagee agrees by accepting this Mortgage, at maximum principal indebtedness secured hereby shall in no event exceed the expense sum of the Owner, to execute all such documents as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx IslandsTWO MILLION AND 00/100 DOLLARS ($2,000,000.00).

Grant of Mortgage. In For consideration paid, the Mortgagor hereby grants to the Mortgagee with Mortgage Covenants to secure [Alt. for note: the payment of Dollars ($ ) with interest thereon, as provided in the promissory note (the “Note”) of [Mortgagor/maker of note] of even date payable to the order of the premises Mortgagee], [Alt. for guaranty: the performance by [guarantor] of its obligations as guarantor under a guaranty agreement (the “Guaranty”) of even date between it and of other good and valuable consideration, the receipt and adequacy whereof are hereby acknowledged, and in order [obligee] to secure the due performance of all covenants and punctual payment of agreements contained in this Mortgage, the Secured Obligations [Note/Guaranty] and in any other instrument now existing or hereafter entered into to provide additional security for the [Note/Guaranty], as they may be amended (collectively, the “Loan Documents”), and to secure the payment of or performance of all other debts, covenants and observance agreements of and compliance with or by the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, and the other Loan Documents, the Owner does by these presents grant, convey and mortgage by way of first preferred mortgage Mortgagor to and in favor of the Mortgagee, its successors and assigns, the whole of the Vessel TO HAVE AND TO HOLD the same unto the Mortgagee, its successors and assigns upon the terms set forth in this Mortgage or for the enforcement of the payment of the Secured Obligations and to secure the performance and observance of and compliance with the covenants, terms and conditions contained in the Credit Agreement, this Mortgage, and the other Loan Documents; PROVIDED, ONLY, and the conditions of these presents are such that, if the Owner and/or its successors or assigns shall pay or cause to be paid to the Creditors, their respective successors and assigns, the Secured Obligations as and when the same shall become due and payable in accordance with the terms of this Mortgage, the Credit Agreement and the other Loan Documents and shall perform, observe and comply with all and singular of the covenants, terms and conditions contained in the Credit Agreement, this Mortgage and the other Loan Documents, expressed or implied, to be performed, observed or complied with by and on the part of the Owner or its successors or assigns, all without delay or fraud and according to the true intent and meaning hereof and thereof, then, these presents and the rights benefit of the Mortgagee under now existing or hereafter arising while this Mortgage shall cease and determine and, in such eventis still undischarged of record, the land in , all as described in Exhibit A attached hereto, together with any and all improvements now or hereafter situated thereon and all rents, issues and profits and other appurtenant rights associated with the ownership of such land (collectively, the “Real Property”). As further security for the Mortgagor’s obligations, the Mortgagor hereby grants to the Mortgagee agrees by accepting this Mortgagea security interest in all equipment (as defined in the Uniform Commercial Code), at now or hereafter located on or intended to be used in connection with the expense Real Property (including fixtures); all insurance proceeds including interest payable in connection with any damage or loss to the Mortgaged Property, all eminent domain awards made with respect to the Mortgaged Property, all licenses and permits for the use or occupancy of the OwnerReal Property, all trade names associated with the use or occupancy of the Real Property, all books and records relating to execute the Mortgagor’s operation of the Real Property, [and] all such documents contracts, agreements and warranties, including rights to return of deposits, prepaid premiums or other payments, relating to the construction, use or occupancy of the Real Property; [Alt for all personal property: and all other personal property of the Mortgagor arising from, or now or hereafter relating to, located at or used in connection with the Real Property, including without limitation, all inventory, equipment, and other goods, documents, instruments, general intangibles, chattel paper, accounts and contract rights (each as defined in the Uniform Commercial Code),] and the proceeds therefrom (collectively, the “Personal Property”). The Real Property and the Personal Property are referred to collectively as the Owner may reasonably require to discharge this Mortgage under the laws of the Republic of the Xxxxxxxx Islands“Mortgaged Property”.