Common use of Mortgagee’s Rights Clause in Contracts

Mortgagee’s Rights. This Operating Agreement shall be subject and subordinate at all times to any lien of mortgages that may hereafter be made a lien of the Oil Terminal by XXXXXXX HOLDINGS; provided, however, that no such mortgage shall impair the use and operation of the Oil Terminal as contemplated hereby, as long as XXXXXXX OPERATING RESOURCES is not in default of the Operating Agreement. Although no instrument or act on the part of XXXXXXX OPERATING RESOURCES shall be necessary to effectuate such subordination, XXXXXXX OPERATING RESOURCES will execute and deliver, nevertheless, such further instrument or instruments, as may be requested from time to time by SPRAGUE HOLDINGS at its own expense, as may be reasonably required by any mortgagee of the Oil Terminal.

Mortgagee’s Rights. This Operating Agreement shall be subject and subordinate at all times to any lien of mortgages that may hereafter be made a lien of the Oil Terminal by XXXXXXX HOLDINGSMASSACHUSETTS; provided, however, that no such mortgage shall impair the use and operation of the Oil Terminal as contemplated hereby, as long as XXXXXXX OPERATING RESOURCES is not in default of the Operating Agreement. Although no instrument or act on the part of XXXXXXX OPERATING RESOURCES shall be necessary to effectuate such subordination, XXXXXXX OPERATING RESOURCES will execute and deliver, nevertheless, such further instrument or instruments, as may be requested from time to time by SPRAGUE HOLDINGS XXXXXXX MASSACHUSETTS at its own expense, as may be reasonably required by any mortgagee of the Oil Terminal.

Mortgagee’s Rights. This Operating Agreement shall be subject and subordinate at all times to any lien of mortgages that may hereafter be made a lien of the Oil Terminal by XXXXXXX HOLDINGS; provided, however, that no such mortgage shall impair the use and operation of the Oil Terminal as contemplated hereby, as long as XXXXXXX OPERATING RESOURCES is not in default of the Operating Agreement. Although no instrument or act on the part of XXXXXXX OPERATING RESOURCES shall be necessary to effectuate such subordination, XXXXXXX OPERATING RESOURCES will execute and deliver, nevertheless, such further instrument or instruments, as may be requested from time to time by SPRAGUE XXXXXXX HOLDINGS at its own expense, as may be reasonably required by any mortgagee of the Oil Terminal.