Common use of Mortgage Property Clause in Contracts

Mortgage Property. (a) To the extent it is not excepted from the lien of the Indenture, the Company has good title to all real property owned by it and good title to all personal property owned by it (except, in each case, such properties as have been released from the lien of the Indenture in accordance with the terms thereof), subject only to (i) the lien of the Indenture, (ii) Excepted Encumbrances (as defined in the Indenture), (iii) taxes and assessments not yet delinquent, (iv) as to parts of the Company’s property, easements, conditions, restrictions, leases, and similar encumbrances which would not, individually or in the aggregate be expected to have a Material Adverse Effect, (v) defects in titles which would not, individually or in the aggregate, be expected to have a Material Adverse Effect, (vi) mechanics’ lien claims being contested or not of record or for the satisfaction or discharge of which adequate provision has been made by the Company or would not, individually or in the aggregate, be expected to have a Material Adverse Effect and (vii) defects which do not in any Material way impair the security afforded by the Indenture. (b) The Bonds will be secured by and entitled to the benefits of the Indenture equally and ratably with all other present and future bonds duly issued under the Indenture by a valid and direct first mortgage lien of the Indenture, subject to any sinking funds (or equivalent) that may be hereafter created for the benefit of any particular series or tranche.

Mortgage Property. (a) To the extent it is not excepted from the lien of the Indenture, the Company has good title to all real property owned by it and good title to all personal property owned by it (except, in each case, such properties as have been released from the lien of the Indenture thereof in accordance with the terms thereof), subject only to (i) the lien of the IndentureIndenture (including the lien granted by Section 17.07 thereof in favor of the Trustee thereunder), (ii) Excepted Permitted Encumbrances (as defined in the Indenture), (iii) taxes and assessments not yet delinquentdelinquent and, (iv) as to parts of the Company’s property, easements, conditions, restrictions, leases, and similar encumbrances which would not, individually or do not affect the Company’s use of such property in the aggregate be expected to have a Material Adverse Effectusual course of its business, (v) certain minor defects in titles which would notare not material, individually or defects in titles to certain properties which are not essential to the aggregateCompany’s business, be expected to have a Material Adverse Effect, (vi) mechanics’ lien claims being contested or not of record or for the satisfaction or discharge of which adequate provision has been made by the Company or would not, individually or in the aggregate, be expected to have a Material Adverse Effect and (vii) defects which do not in any Material material way impair the security afforded by the Indenture. (b) The Bonds will be secured by and entitled to the benefits of the Indenture equally and ratably with all other present and future bonds duly issued and outstanding under the Indenture by a valid and direct first mortgage lien of the Indenture, subject to any sinking funds (or equivalent) that may be hereafter created for the benefit of any particular series or tranche...

Mortgage Property. (a) To the extent it is not excepted from the lien of the Indenture, the Company has good title to all real property owned by it and good title to all personal property owned by it (except, in each case, such properties as have been released from the lien of the Indenture thereof in accordance with the terms thereof), subject only to (i) the lien of the IndentureIndenture (including the lien granted by Section 17.07 thereof in favor of the Trustee thereunder), (ii) Excepted Permitted Encumbrances (as defined in the Indenture), (iii) taxes and assessments not yet delinquentdelinquent and, (iv) as to parts of the Company’s property, easements, conditions, restrictions, leases, and similar encumbrances which would not, individually or do not affect the Company’s use of such property in the aggregate be expected to have a Material Adverse Effectusual course of its business, (v) certain minor defects in titles which would notare not material, individually or defects in titles to certain properties which are not essential to the aggregateCompany’s business, be expected to have a Material Adverse Effect, (vi) mechanics’ lien claims being contested or not of record or for the satisfaction or discharge of which adequate provision has been made by the Company or would not, individually or in the aggregate, be expected to have a Material Adverse Effect and (vii) defects which do not in any Material material way impair the security afforded by the Indenture. (b) The Bonds will be secured by and entitled to the benefits of the Indenture equally and ratably with all other present and future bonds duly issued and outstanding under the Indenture by a valid and direct first mortgage lien of the Indenture, subject to any sinking funds (or equivalent) that may be hereafter created for the benefit of any particular series or tranche.