Common use of Mortgage Amendments Clause in Contracts

Mortgage Amendments. The Administrative Agent shall have received, with respect to each Mortgaged Property that was subject to a Mortgage in favor of Collateral Agent prior to the Restatement Date, each of the following in form and substance reasonably satisfactory to the Administrative Agent: (i) an executed amendment to the Mortgage with respect to such Mortgaged Property; (ii) evidence that a counterpart of such amendment to such Mortgage has been recorded, or that arrangements for recording reasonably satisfactory to Administrative Agent have been made, in the place necessary, in the Administrative Agent’s reasonable judgment, to continue to create a valid and enforceable first priority Lien in favor of the Administrative Agent for the benefit of itself, the Lenders and the other Secured Parties; and (iii) an ALTA or other mortgagee’s title insurance policy with respect to such Mortgage (or a date-down endorsement with respect to the existing mortgagee’s title insurance policy that was issued with respect to such Mortgage).

Mortgage Amendments. The Administrative Agent shall have received, with respect to each Mortgaged Property that was subject to a Mortgage in favor of the Collateral Agent prior to the Restatement Date, each of the following in form and substance reasonably satisfactory to the Administrative Agent: (i) an executed amendment to the Mortgage with respect to such Mortgaged Property; (ii) evidence that a counterpart of such amendment to such Mortgage has been recorded, or that arrangements for recording reasonably satisfactory to the Administrative Agent have been made, in the place necessary, in the Administrative Agent’s reasonable judgment, to continue to create a valid and enforceable first priority Lien in favor of the Administrative Agent for the benefit of itself, the Lenders and the other Secured Parties; and (iii) an ALTA or other mortgagee’s title insurance policy with respect to such Mortgage (or a date-down endorsement with respect to the existing mortgagee’s title insurance policy that was issued with respect to such Mortgage).