Invalidity of Certain Provisions. If the lien of this Mortgage is invalid or unenforceable as to any part of the Guaranteed Obligations, or if the lien is invalid or unenforceable as to any part of the Mortgaged Property, the unsecured or partially secured portion of the Guaranteed Obligations shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the Guaranteed Obligations, and all payments made on the Guaranteed Obligations, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the Guaranteed Obligations that is not secured or fully secured by the lien of this Mortgage.
Appears in 4 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Oneida LTD), Mortgage, Security Agreement and Fixture Filing (Oneida LTD), Mortgage, Security Agreement and Fixture Filing (Oneida LTD)
Invalidity of Certain Provisions. If the lien of this Mortgage is invalid or unenforceable as to any part of the Guaranteed ObligationsSecured Indebtedness, or if the lien is invalid or unenforceable as to any part of the Mortgaged Property, the unsecured or partially secured portion of the Guaranteed Obligations Secured Indebtedness shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the Guaranteed ObligationsSecured Indebtedness, and all payments made on the Guaranteed ObligationsSecured Indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the Guaranteed Obligations Secured Indebtedness that is not secured or fully secured by the lien of this MortgageMortgaged Property.
Appears in 3 contracts
Samples: Credit, Security, Guaranty and Pledge Agreement (Guilford Mills Inc), Note Agreement (Guilford Mills Inc), Mortgage (Ventas Inc)
Invalidity of Certain Provisions. If the lien of this -------------------------------- Mortgage is invalid or unenforceable as to any part of the Guaranteed ObligationsSecured Indebtedness, or if the lien is invalid or unenforceable as to any part of the Mortgaged Property, the unsecured or partially secured portion of the Guaranteed Obligations Secured Indebtedness shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the Guaranteed ObligationsSecured Indebtedness, and all payments made on the Guaranteed ObligationsSecured Indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the Guaranteed Obligations Secured Indebtedness that is not secured or fully secured by the lien of this MortgageMortgaged Property.
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Samples: Mortgage, Security Agreement and Assignment of Rents (Ventas Inc)
Invalidity of Certain Provisions. If the lien of this Mortgage -------------------------------- Deed of Trust is invalid or unenforceable as to any part of the Guaranteed ObligationsSecured Indebtedness, or if the lien is invalid or unenforceable as to any part of the Mortgaged Trust Property, the unsecured or partially secured portion of the Guaranteed Obligations Secured Indebtedness shall be completely paid prior to the payment of the remaining and secured or partially secured portion of the Guaranteed ObligationsSecured Indebtedness, and all payments made on the Guaranteed ObligationsSecured Indebtedness, whether voluntary or under foreclosure or other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the Guaranteed Obligations Secured Indebtedness that is not secured or fully secured by the lien of this MortgageTrust Property.
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