Common use of No Release of Senior Secured Note Obligations Clause in Contracts

No Release of Senior Secured Note Obligations. Neither Mortgagor, any other Obligor or any of the Guarantors, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Senior Secured Note Obligations shall be relieved of any such obligation by reason of (a) the failure of Mortgagee, to comply with any request of Mortgagor, any other Obligor, any of the Guarantors or any Obligor, Guarantor or other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Indenture; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to Mortgagor, any other Obligor or any of the Guarantors Obligor or any other Person, and in any such event Mortgagor, all other Obligors, all Guarantors and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Mortgagee; or (d) any other act or occurrence save and except the complete payment and performance of all of the Senior Secured Note Obligations.

Appears in 5 contracts

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.)

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No Release of Senior Secured Note Obligations. Neither Mortgagor, any other Obligor or any of the Guarantors, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Senior Secured Note Obligations shall be relieved of any such obligation by reason of (a) the failure of Mortgagee, to comply with any request of Mortgagor, any other Obligor, any of the Guarantors or any Obligor, Guarantor or other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Indenture; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to Mortgagor, any other Obligor or any of the Guarantors Guarantors, Obligor or any other Person, and in any such event Mortgagor, all other Obligors, all Guarantors and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Mortgagee; or (d) any other act or occurrence save and except the complete payment and performance of all of the Senior Secured Note Obligations.

Appears in 4 contracts

Samples: Mortgage (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.)

No Release of Senior Secured Note Obligations. Neither Mortgagor, any other Obligor or any of the Guarantors, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Senior Secured Note Obligations shall be relieved of any such obligation by reason of (a) the failure of Mortgagee, to comply with any request of Mortgagor, any other Obligor, any of the Guarantors or any Obligor, Guarantor or other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Indenture; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to Mortgagor, any other Obligor or any of the Guarantors Obligor or any other Person, and in any such event Mortgagor, all other Obligors, all Guarantors and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Mortgagee; or (d) any other act or occurrence save and except the complete payment and performance of all of the Senior Secured Note Obligations.

Appears in 1 contract

Samples: Mortgage (Progress Precision Inc.)

No Release of Senior Secured Note Obligations. Neither Mortgagor, any other Obligor or any of the Guarantors, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Senior Secured Note Obligations shall be relieved of any such obligation by reason of (a) the failure of Mortgagee, to comply with any request of Mortgagor, any other Obligor, any of the Guarantors or any Obligor, Guarantor or other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Indenture; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to Mortgagor, any other Obligor Obligot or any of the Guarantors Guarantors, Obligor or any other Person, and in any such event Mortgagor, all other Obligors, all Guarantors and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Mortgagee; or (d) any other act or occurrence save and except the complete payment and performance of all of the Senior Secured Note Obligations.

Appears in 1 contract

Samples: Mortgage (Progress Precision Inc.)

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No Release of Senior Secured Note Obligations. Neither Mortgagor, any other Obligor or any of the Guarantors, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Senior Secured Note Obligations shall be relieved of any such obligation by reason of (a) the failure of Mortgagee, to comply with any request of Mortgagor, any other Obligor, any of the Guarantors or any ObligorBorrower, Guarantor or other Person so obligated to foreclose the Lien of this Mortgage or to enforce any provision hereunder or under the Indenture; (b) the release, regardless of consideration, of the Mortgaged Property or any portion thereof or interest therein or the addition of any other property to the Mortgaged Property; (c) any agreement or stipulation between any subsequent owner of the Mortgaged Property and Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Mortgage without first having obtained the consent of, given notice to or paid any consideration to Mortgagor, any other Obligor or any of the Guarantors Guarantors, Obligor or any other Person, and in any such event Mortgagor, all other Obligors, all Guarantors and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Mortgagee; or (d) any other act or occurrence save and except the complete payment and performance of all of the Senior Secured Note Obligations.

Appears in 1 contract

Samples: Mortgage (Progress Precision Inc.)

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