Common use of Mortgage and Pledge Status; Waivers and Modifications Clause in Contracts

Mortgage and Pledge Status; Waivers and Modifications. In the case of each Mortgage and related Mezzanine Loan, (a) no pledge or related Mortgage has been satisfied, canceled, rescinded or subordinated in whole or in material part, (b) the related pledged equity or Property has not been released from the lien of such pledge or Mortgage, in whole or in material part, (c) no instrument has been executed that would effect any such satisfaction, cancellation, subordination, rescission or release, and (d) no pledgor or Mortgagor has been released from its obligations under the related pledge or Mortgage in whole or in material part. None of the terms of any note or pledge has been impaired, waived, altered or modified in any respect, except by written instruments, all of which are included in the related Loan File.

Mortgage and Pledge Status; Waivers and Modifications. In the case of each Mortgage and related Mezzanine Loan, (a) no pledge Pledge or related Mortgage has been satisfied, canceled, rescinded or subordinated in whole or in material part, (b) the related pledged equity or Property has not been released from the lien of such pledge or Mortgage, in whole or in material part, (c) no instrument has been executed that would effect any such satisfaction, cancellation, subordination, rescission or release, and (d) no pledgor or Mortgagor has been released from its obligations under the related pledge Pledge or Mortgage in whole or in material part. None of the terms of any note or pledge Pledge has been impaired, waived, altered or modified in any respect, except by written instruments, all of which are included in the related Loan Fileloan file.