Lien on Real Estate. If any Obligor hereafter acquires any interest in Real Estate with a value in excess of $1,000,000, such Obligor shall, within 60 days (or such later date in Agent's reasonable discretion), execute, deliver and record a Mortgage sufficient to create a first priority Lien in favor of Agent on such Real Estate, and shall deliver all Related Real Estate Documents.
Lien on Real Estate. The Obligations (other than Obligations in respect of Revolver Loans and LC Obligations) shall also be secured by Mortgages upon all Real Estate owned by Obligors, other than Real Estate owned by Obligors that constitutes an Excluded Asset. The Mortgages shall be duly recorded, at Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. Notwithstanding any provision in this Agreement to the contrary, it is understood and agreed that if pursuant to the applicable state law a mortgage tax will be owed on the full amount of the indebtedness evidenced hereby, then the amount secured by the applicable Mortgage shall be limited to an amount mutually agreed upon by Agent and Borrowers, but not less than 100% of the fair market value of the applicable Real Estate at the time the applicable Mortgage is delivered. If any Borrower acquires Real Estate hereafter, other than Real Estate that constitutes an Excluded Asset, Borrowers shall, within sixty (60) days (as such date may be extended in writing from time to time by Agent) after such acquisition, execute and deliver a Mortgage in recordable form sufficient to create a first priority Lien in favor of Agent on such Real Estate subject to Permitted Liens, and shall deliver all Related Real Estate Documents (except as may be waived by the Agent at the direction of the Supermajority Lenders).
Lien on Real Estate. The Obligations shall also be secured by Mortgages upon all Real Estate owned by the Loan Parties (if any). The Mortgages shall be duly recorded, at the Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Loan Party acquires Real Estate hereafter, the Borrowers shall, within 30 days, execute, deliver and record a Mortgage sufficient to create a first priority Lien in favor of the Applicable Agent on such Real Estate, and shall deliver all Related Real Estate Documents.
Lien on Real Estate. The due and punctual payment and performance of the Obligations shall also be secured by the Lien created by the Mortgages upon the Real Estate described therein. The Mortgages shall be executed on or about the Closing Date and shall be duly recorded, at Borrowers' expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby.
Lien on Real Estate. The Obligations shall also be secured by Mortgages upon the fee owned Real Estate listed on Schedule 7.
Lien on Real Estate. The Obligations shall also be secured by Mortgages upon all Real Estate owned by the Loan Parties (if any). The Mortgages shall be duly recorded, at the Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Loan Party acquires Real Estate hereafter, the Borrowers shall, within 30 days, execute, deliver and record a Mortgage sufficient to create a Lien in favor of the Administrative Agent (subject only to the first priority Lien in favor of the Revolving Agent or the Canadian Revolving Agent) on such Real Estate, and shall deliver all Related Real Estate Documents.
Lien on Real Estate. The Obligations shall also be secured by Mortgages upon all Real Estate owned by Obligors, including the Real Estate owned as of the Amendment No. 5 Closing Date (which is set forth on Schedule 7.3.1) or as otherwise provided in Section 10.2.
Lien on Real Estate. The Obligations shall also be secured by Mortgages upon all owned Real Estate owned by Borrowers, as listed on Schedule 7.4 hereto. The Mortgages shall be duly recorded, at Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Borrower acquires any owned Real Estate hereafter, Borrowers shall promptly notify Agent of such acquisition and shall, within 45 days of Agent’s request, execute, deliver and record a Mortgage sufficient to create a first priority Lien (subject to Permitted Liens) in favor of Agent on such Real Estate, and shall promptly deliver all Related Real Estate Documents.
Lien on Real Estate. Within sixty (60) days after receipt of one or more requests by Agent, the Borrowers will execute and deliver Mortgages, in form and substance satisfactory to Agent, upon the Real Estate Collateral owned by Borrowers (along with the corresponding Related Real Estate Documents) as specified by Agent in each such request; provided that no Mortgage shall be required to be provided to Agent with respect to any specific Real Estate Collateral if the costs to the Borrowers of providing such Mortgage and corresponding Related Real Estate Documents are unreasonably excessive (as determined by Agent in consultation with Borrower Agent) in relation to the benefits to Agent and the Lenders of the security afforded thereby. Any such Mortgages shall be duly recorded, at Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby.
Lien on Real Estate. (I) If, after the Closing Date, any Obligor acquires (x) any Restricted Subsidiary that owns Material Real Property or (y) any Material Real Property, other than, in each case, (A) Real Estate constituting Excluded Property and (B) Agent Excluded Real Property, or if any Real Estate ceases to be Excluded Property (other than any Agent Excluded Real Property), the Obligors shall, within 90 days (as may be extended by the Collateral Agent in its sole discretion), with respect to such Material Real Property, (a) execute, deliver and record a Mortgage sufficient to create a perfected Lien in favor of the Administrative Agent, (b) deliver a customary opinion of local counsel in the state in which such Material Real Property is located as to such Mortgage, (c) at least 15 days (or such shorter period as agreed to by the Collateral Agent in their sole discretion) prior to the effective date of the Mortgage, deliver or cause to be delivered to the Collateral Agent and each applicable Lender, flood hazard information requested by any Lender as needed for a life-of-loan flood hazard determination and, if the Real Estate is located in a special flood hazard zone, flood insurance documentation (including an acknowledged notice to the Borrower and real property and contents flood insurance by an insurer reasonably acceptable to Collateral Agent) in accordance with the Flood Disaster Protection Act or otherwise reasonably satisfactory to each Lender and other such documents as Administrative Agent or any Lender may reasonably require with respect to flood insurance for the Real Estate; (d) deliver to the Administrative Agent such existing documents, instruments or agreements as the Administrative Agent may reasonably request with respect to any environmental risks regarding such Real Estate (which, as long as Term Loans are outstanding, shall be satisfied by the delivery to the Administrative Agent of the existing documents, instruments or agreements requested by the Term Loan Agent), (e) upon request, deliver to the Administrative Agent any existing survey of such Material Real Property (which, as long as Term Loans are outstanding, shall be satisfied by the delivery to the Administrative Agent of the existing surveys requested by the Term Loan Agent); and (f) (A) upon the reasonable request of the Administrative Agent, deliver to the Administrative Agent a title report for all Real Estate referred to in clause (I) of this Section 7.3.1 with a net book value between $2...
