Common use of Greater Estate Clause in Contracts

Greater Estate. In the event that Mortgagor is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the Obligations and the cancellation of this Mortgage of record, Mortgagor obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of Mortgagor, be and become subject to the security lien of this Mortgage.

Greater Estate. In the event that Mortgagor is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the Obligations indebtedness and the cancellation of this Mortgage of record, Mortgagor obtains a fee estate in to such portion of the PremisesLand in which Mortgagor presently holds only a leasehold interest, then, then such fee estate shall automatically, and without further action of any kind on the part of Mortgagor, be and become subject to the security lien of this Mortgage.

Greater Estate. In the event that Mortgagor is the owner of a leasehold estate with respect to any portion of the Premises and, prior to the satisfaction of the Obligations indebtedness and the cancellation of this Mortgage and Security Agreement of record, Mortgagor obtains a fee estate in such portion of the Premises, then, such fee estate shall automatically, and without further action of any kind on the part of Mortgagor, be and become subject to the security lien of this Mortgage.

Greater Estate. In the event that Mortgagor is the owner of a leasehold estate with respect to any portion of the Premises Property and, prior to the satisfaction of the Obligations indebtedness and the cancellation of this Mortgage of record, Mortgagor obtains a fee estate in such portion of the PremisesProperty, then, such fee estate shall automatically, and without further action of any kind on the part of Mortgagor, be and become subject to the security lien of this Mortgage.