Common use of Mortgagor’s Covenants Clause in Contracts

Mortgagor’s Covenants. (1) The Mortgagor hereby covenants with the Mortgagee that:- the Mortgagor will promptly and diligently perform and comply with the obligations on its part contained in the Sale and Purchase Agreements, remedy any breach of its obligations under the Sale and Purchase Agreements, notify the Mortgagee of any breach of or default of any term of the Sale and Purchase Agreements and institute and prosecute all such proceedings as the Mortgagee may consider to be necessary or advisable to preserve or protect its interests and the interests of the Mortgagee under the Sale and Purchase Agreements;