Common use of Liens and Security Interests Clause in Contracts

Liens and Security Interests. (a) Specifically, without limiting the generality of Section 2, the Lessor Trust, the Agent Certificate Holder and the Lessee intend and agree that in the event of any insolvency or receivership proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any State or Commonwealth thereof affecting the Lessee, any Certificate Holder, any Lender or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans made by the Lenders and the Certificate Holders as unrelated third party lenders to the Lessee secured by respective Properties (it being understood that the Lessee hereby deeds and warrants and grants a security interest in the Subject Property (consisting of a fee deed of trust or leasehold deed of trust with respect to the Subject Property) to the Trustee for the benefit of the Agent Certificate Holder, the Certificate Holders and the Lenders to secure all Certificate Holder Amounts and Loans advanced by the Participants for the acquisition of the respective Properties and construction of the Improvements thereon, together with Yield or interest, as applicable, thereon, and all other amounts payable under the Operative Documents in connection therewith, effective on the date hereof).

Liens and Security Interests. (a) Specifically, without limiting the generality of Section 24.1, the Lessor Trust, the Agent Certificate Holder and the Lessee intend and agree that in the event of any insolvency or receivership proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any State or Commonwealth thereof affecting the Lessee, any Certificate Holderthe Lessor, the Collateral Agent or any Lender or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans and advances made by the Lenders and the Certificate Holders Participants as unrelated third party lenders to the Lessee secured by respective Properties (it being understood that the Subject Property and the Lessee Collateral. To secure such loans and advances and other Obligations, the Lessee has GRANTED, BARGAINED, SOLD, WARRANTED, CONVEYED and CONFIRMED, and hereby deeds GRANTS, BARGAINS, SELLS, WARRANTS, CONVEYS and warrants CONFIRMS the Leased Property and grants the Lessee Collateral unto the Deed of Trust Trustee, its successors and assigns (for the benefit of the Participants) IN TRUST WITH POWER OF SALE AND RIGHT OF ENTRY AND POSSESSION AND HEREBY GRANTS unto the Lessor, its successors and assigns a security interest in the Subject Leased Property (consisting of a fee deed of trust or leasehold deed of trust with respect to the Subject Property) to the Trustee for the benefit of the Agent Certificate Holder, the Certificate Holders and the Lenders to secure all Certificate Holder Amounts and Loans advanced by the Participants for the acquisition of the respective Properties and construction of the Improvements thereon, together with Yield or interest, as applicable, thereon, and all other amounts payable under the Operative Documents in connection therewith, effective on the date hereof)Lessee Collateral.

Liens and Security Interests. (a) Specifically, without limiting the generality of Section 224.1, the Lessor Trust, the Agent Certificate Holder and the Lessee intend and agree that in the event of any insolvency or receivership proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any State or Commonwealth thereof affecting the Lessee, any Certificate Holderthe Lessor, the Collateral Agent or any Lender or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans and advances made by the Lenders and the Certificate Holders Participants as unrelated third party lenders to the Lessee secured by respective Properties (it being understood that the Subject Property and the Lessee Collateral. To secure such loans and advances and other Obligations, the Lessee has GRANTED, BARGAINED, SOLD, WARRANTED, CONVEYED and CONFIRMED, and hereby deeds GRANTS, BARGAINS, SELLS, WARRANTS, CONVEYS and warrants CONFIRMS the Leased Property and grants the Lessee Collateral unto the Deed of Trust Trustee, its successors and assigns (for the benefit of the Participants) IN TRUST WITH POWER OF SALE AND RIGHT OF ENTRY AND POSSESSION AND HEREBY GRANTS unto the Lessor, its successors and assigns a security interest in the Subject Leased Property (consisting of a fee deed of trust or leasehold deed of trust with respect to the Subject Property) to the Trustee for the benefit of the Agent Certificate Holder, the Certificate Holders and the Lenders to secure all Certificate Holder Amounts and Loans advanced by the Participants for the acquisition of the respective Properties and construction of the Improvements thereon, together with Yield or interest, as applicable, thereon, and all other amounts payable under the Operative Documents in connection therewith, effective on the date hereof)Lessee Collateral.

Liens and Security Interests. (a) Specifically, without limiting the generality of Section 2, the Lessor Trust, the Agent Certificate Holder and the Lessee intend and agree that in the event of any insolvency or receivership proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any State or Commonwealth thereof affecting the Lessee, any Certificate Holder, any Lender Participant or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans made by a secured financing from the Lenders Purchasers and the Certificate Holders Lessor as unrelated third party lenders to the Lessee secured by the respective Properties (Property it being understood that the Lessee hereby deeds has DEEDED, GRANTED AND WARRANTED and warrants hereby grants a security interest and warrants, pledges, assigns, bargains, hypothecates, conveys, DEEDS, GRANTS AND WARRANTS, and grants a security interest in in, the Subject Property (consisting of a fee deed of trust or leasehold deed of trust mortgage with respect to the Subject Property) WITH POWER OF SALE to the Deed of Trust Trustee for the benefit of the Agent Certificate HolderLessor and the Purchasers, and their successors and assigns (including, without limitation, the Certificate Holders Indenture Trustee and the Lenders RVI Provider) to secure all Certificate Holder Amounts payment and Loans advanced by the Participants for the acquisition performance of the respective Properties and construction of the Improvements thereon, together with Yield or interest, as applicable, thereon, and all other amounts payable under the Operative Documents in connection therewith, effective on the date hereof)Subject Obligations.

Liens and Security Interests. (a) Specifically, without limiting the generality of Section 2, the Lessor Trust25.1, the Agent Certificate Holder Lessor and the Lessee intend and agree that in the event of any insolvency or receivership proceedings or a petition under the United States bankruptcy laws or any other applicable insolvency laws or statute of the United States of America or any State or Commonwealth thereof affecting the Lessee, any Certificate HolderLessor, any Lender or any collection actions, the transactions evidenced by the Operative Documents shall be regarded as loans made by the Lenders and the Certificate Holders Lessors as unrelated third party lenders to the Lessee secured by respective Properties the Property (it being understood that the Lessee has GRANTED, BARGAINED, SOLD, CONVEYED and CONFIRMED, and hereby deeds GRANTS, BARGAINS, SELLS, CONVEYS and warrants CONFIRMS, and grants a security interest in the Subject Property (consisting of a fee deed security agreement with respect to that portion of trust or leasehold the Property constituting personal property and deed of trust with respect to that portion of the Subject PropertyProperty constituting a leasehold and real property) IN TRUST all with POWER OF SALE to the Trustee and its successors and assigns in trust for the use and benefit of the Agent Lessor (for the benefit of the Agent Certificate Holder, the Certificate Holders Lessors and the Lenders Lenders) to secure all Certificate Holder Lessor Amounts and Loans advanced by the Participants for the acquisition of the respective Properties Property in an original principal amount of $96,957,507.26 and construction of the Improvements thereonmaturing on November 24, 2002, together with Yield or interest, as applicable, thereon, and all other amounts payable under the Operative Documents in connection therewith, effective on the date hereof).