Mortgagor’s Obligations. Xxxxxxxxx agrees that until its obligations hereunder are paid in full:
(a) It shall not change its legal name, its type of organization or its state of organization, and shall not merge or consolidate with any other person or entity without at least thirty (30) days prior written notice to Mortgagee.
(b) It shall not pledge, mortgage or create, or suffer to exist a security interest in the Collateral in favor of any person other than Mortgagee.
(c) It shall keep the Collateral in good order and repair and will not use the same in violation of law or any policy of insurance thereon.
(d) It shall use the Collateral solely for business purposes, being installed upon the Mortgaged Premises for Mortgagor’s own use or as the equipment and furnishings furnished by Xxxxxxxxx, as landlord, to tenants of the Mortgaged Premises.
(e) It shall keep the Collateral at the Land and shall not remove, sell, assign or transfer it therefrom, nor allow a third party to do so, without the prior written consent of Mortgagee, which may be withheld in Mortgagee’s sole and absolute discretion, unless disposed of in the ordinary course of business and replaced with items of comparable utility and/or quality and value free and clear of all liens or title retention devices except purchase money security interests. The Collateral may be affixed to such real estate but will not be affixed to any other real estate.
(f) It will, on its own initiative, or as Mortgagee may from time to time reasonably request, and at its own cost and expense, take all steps necessary and appropriate to establish and maintain Mortgagee’s perfected security interest in the Collateral subject to no adverse liens or encumbrances, including, but not limited to, furnishing to Mortgagee additional information, delivering possession of the Collateral to Mortgagee, executing and delivering to Mortgagee financing statements and other documents in a form satisfactory to Mortgagee, placing a legend that is acceptable to Mortgagee on all chattel paper created by Mortgagor indicating that Mortgagee has a security interest in the chattel paper and assisting Mortgagee in obtaining executed copies of any and all documents required of third parties. Mortgagee is authorized to file a financing statement with respect to the Collateral.
Mortgagor’s Obligations. As used herein, "Mortgagor's Obligations" ------------------------ means, collectively, all of the Secured Obligations required to be paid or performed by Mortgagor.
Mortgagor’s Obligations. Mortgagor's obligation to make payment on ------------------------ Mortgagor's Obligations shall not xxxxx pending any repair or restoration of the Real Property due to the Condemnation. In addition, Mortgagor shall reimburse Mortgagee, within 10 days after demand, for all costs, expenses, and fees (including architect and engineer fees) incurred by Mortgagee in connection with any repair or restoration of the Real Property due to the Condemnation.
Mortgagor’s Obligations. All of the Mortgagor’s Obligations shall:
(a) be a charge on the Mortgaged Property in favour of the Mortgagee in priority to all Encumbrances, other than Permitted Encumbrances, subsequent to this Mortgage;
(b) be payable by the Mortgagor to the Mortgagee forthwith, upon demand, with Interest at the Interest Rate until paid; and
(c) with Interest at the Interest Rate be added to the Indebtedness as if those monies had originally formed part of the Indebtedness.
Mortgagor’s Obligations. At its sole cost and expense, the Mortgagor shall:
(i) Pay immediately when due the cost of compliance with the Relevant Environmental Laws.
(ii) Keep the Premises free of any lien imposed pursuant to the Relevant Environmental Laws.
Mortgagor’s Obligations. The Mortgagor must:
(a) from time to time do whatever may be necessary for procuring the renewal of the Mining Property according to the laws and regulations for the time being in force in New South Wales prior to the date on which the Mining Property lapse or expire but the Mortgagor may allow any Mining Property to lapse or expire with the prior written consent of the Mortgagee;
(b) duly and punctually pay all rates, Taxes, charges, fees and assessments of every nature (including, without limitation, rents and fees) payable to the Crown in right of New South Wales which are from time to time charged or levied in respect of the Mining Property and do whatever may be reasonably required to keep the Mining Property valid and in full force and effect;
(c) duly and punctually observe and comply with all work and expenditure obligations applicable to the Mining Property in accordance with the Mining Act and duly and punctually observe and perform all other conditions and requirements relating to the Mining Property;
(d) not do or permit to be done any act, matter or thing which may prejudice the Mining Property or cause the Mining Property to be forfeited;
(e) duly and punctually observe and comply with the provisions of the Mining Act and with the provisions of all other statutes, regulations rules, by-laws and orders affecting the Mining Property or the holder, occupier or mortgagee of the Mining Property;
(f) give prompt written notice to the Mortgagee of every request, notification, direction or demand received under or pursuant to the Environmental Planning and Assessment Xxx 0000 (NSW) or the Environmental Protection (Impact of Proposals) Xxx 0000 (Cth) in relation to the Mining Property or any mining operations carried out on the Mining Property, together with a copy of such request, notification, direction or demand;
(g) give prompt written notice to the Mortgagee if any part of the land comprised in the Mining Property is proclaimed as community lands, declared an Aboriginal site, or reserved or claimed under any Aboriginal Laws;
(h) not without the prior written consent of the Mortgagee (which consent shall not be unreasonably withheld), and except in the case of royalties or other payments payable to the Crown, create or suffer to exist any royalty, overriding royalty, production payment or any other interest having the same or similar effect as the foregoing over or in respect of the Secured Property;
(i) not without the prior written consent of th...
Mortgagor’s Obligations. In the event of any -------- ----------------------- damage to or loss or destruction of the Premises, Mortgagor shall (A) promptly notify Mortgagee of such event and take such steps as shall be necessary to preserve any undamaged portion of the Premises, (B) promptly advise the insurer under any policy providing coverage for such damage, loss or destruction of the same and take such other actions as are required of Mortgagor under each such policy and (C) unless otherwise instructed by Mortgagee, provided the insurance proceeds are made available for the purpose, promptly commence and diligently pursue to completion the restoration, replacement and rebuilding of the Premises to the condition of the Premises affected thereby immediately prior to such damage, loss or destruction in accordance with plans and specifications approved, and with other provisions for the preservation of the security hereunder established, by Mortgagee.
Mortgagor’s Obligations. 4.1 The mortgagor must do the following:
(a) Put and keep the property in good repair;
(b) Keep to the terms of: • any previous charge over the property; • any lease which the property is held under; • any restriction which affects the property (e.g. a restrictive covenant);
(c) Keep to any obligation which applies to the property under a statute;
(d) Do anything concerning the property which is legally required by a person acting with statutory authority;
(e) Immediately give the lender a copy of: • any notice or demand received from a person who has a charge over the property; • any notice received from a person exercising a right over the property or claiming an interest in it; • any notice about the property received from a person acting with statutory authority; and • any notice given by the mortgagor or the co-mortgagor, or by any other person, in order to get a new or increased interest in the property (e.g. a longer lease) or in any building which the property forms part of;
(f) Give the lender a fresh charge (if asked) over any new or increased interest which the mortgagor gets in the property.
4.2 The mortgagor must not do the following without the lender’s written permission (which the lender will give unless it has reasonable grounds for refusing it);
(a) Alter the property;
(b) Grant rights in the property to anyone, or allow anyone to get rights in it.
Mortgagor’s Obligations. The Mortgagor agrees to be bound by the terms and provisions of this Agreement, to make no payments or distributions contrary to the terms and provisions hereof and to do every other act and thing necessary or appropriate to carry out such terms and provisions.
Mortgagor’s Obligations. In the event of any damage to or loss or destruction of the Premises, Mortgagor shall (i) promptly notify Mortgagee, in writing, of such event and take such steps as shall be necessary to preserve any undamaged portion of the Premises and (ii) unless otherwise instructed by Mortgagee, shall, regardless whether the insurance proceeds, if any, shall be sufficient for the purpose or shall be otherwise applied by Mortgagee as provided herein, promptly (and, in any event, prior to the date on which any tenant under any Lease shall be entitled to cancel or terminate said Lease because of any such damage, loss or destruction) commence and diligently pursue to completion the restoration, replacement and rebuilding of the Premises as nearly as possible to their value, condition and character immediately prior to such damage, loss or destruction and in accordance with plans and specifications approved, and with other provisions for the reservation of the security hereunder established, by Mortgagee.
