Lien Against Applicable Resort. Except for the Permitted Liens and Encumbrances or as otherwise specifically provided herein to the contrary, if Borrower or an Applicable Underlying Borrower grants any mortgage, Lien, or other encumbrance upon all or any portion of an Applicable Resort or any Applicable Underlying Loan Collateral other than in favor of Lender in connection with the Loan, provided that such mortgage, Lien, or other encumbrance has a material adverse effect upon the value of such Applicable Underlying Loan Collateral or all or any portion of the Collateral, unless approved by Lender in writing, in its sole and absolute discretion.
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Samples: Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc)
Lien Against Applicable Resort. Except for the Permitted Liens and Encumbrances or as otherwise specifically provided herein to the contrary, if Borrower or an Applicable Underlying Borrower Developer grants any mortgage, Lien, or other encumbrance upon all or any portion of an Applicable Resort or any Applicable Underlying Loan Transaction Collateral other than in favor of Lender in connection with the Loan, provided that such mortgage, Lien, or other encumbrance has a material adverse effect upon the value of such Applicable Underlying Loan Transaction Collateral or all or any portion of the Collateral, unless approved by Lender in writing, in its sole and absolute discretion.
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Lien Against Applicable Resort. Except for the Permitted Liens and Encumbrances or as otherwise specifically provided herein to the contrary, if Borrower or an Applicable Underlying Borrower grants any mortgage, Lien, or other encumbrance upon all or any portion of an Applicable Resort or any Applicable Underlying Loan Collateral other than in favor of Lender in connection with the Loan, provided that such mortgage, Lien, or other encumbrance has a material adverse effect upon the value of such Applicable Underlying Loan Collateral or all or any portion of the Collateral, unless approved by Lender in writing, in its sole and absolute discretion.
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