Common use of Perfection of Liens Clause in Contracts

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 21 contracts

Samples: Credit Agreement (Bluerock Residential Growth REIT, Inc.), Credit Agreement (Wheeler Real Estate Investment Trust, Inc.), Term Loan Agreement (Moody National REIT II, Inc.)

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Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Collateral subject thereto and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 12 contracts

Samples: Credit Agreement (Condor Hospitality Trust, Inc.), Composite Credit Agreement (Condor Hospitality Trust, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

Perfection of Liens. Evidence Except with respect to Special Real Estate, evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens approved by the Agent entitled to priority under applicable law) lien or security title and security interest in such Real Estate and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens lien or security title or security interests interest have been duly effected.

Appears in 3 contracts

Samples: Master Revolving Credit Agreement (Ramco Gershenson Properties Trust), Master Revolving Credit Agreement (Ramco Gershenson Properties Trust), Master Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate property and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 2 contracts

Samples: Master Credit Agreement (Howard Hughes Corp), Master Credit Agreement (Howard Hughes Corp)

Perfection of Liens. Evidence The Agent shall have received evidence reasonably satisfactory to the Agent it that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Mortgaged Property and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 2 contracts

Samples: Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (Dupont Fabros Technology, Inc.)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) lien or security title and security interest in such Real Estate and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc), Loan Agreement (Wellsford Real Properties Inc)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in the Collateral Loan Documents for such Real Estate Collateral Loan and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate all of the Equity Interests in the Subsidiary Guarantor and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Gladstone Commercial Corp)

Perfection of Liens. Evidence The Agent shall have received evidence reasonably satisfactory to the Agent it that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Collateral (including, without limitation, the Mortgaged Property) and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Credit Agreement (Dupont Fabros Technology, Inc.)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens approved by the Agent entitled to priority under applicable law) lien or security title and security interest in such Real Estate Estate, and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens lien or security title or security interests interest have been duly effected.

Appears in 1 contract

Samples: Bridge Loan Agreement (Ramco Gershenson Properties Trust)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first priority lien or security title and security interest in such Real Estate the Collateral subject thereto and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Credit Agreement (New Senior Investment Group Inc.)

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Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens described in §8.2(ix» lien or security title and security interest in such Real Estate and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens lien or security title or security interests interest have been duly effected.

Appears in 1 contract

Samples: Secured Master Loan Agreement (Ramco Gershenson Properties Trust)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) lien or security title and security interest in such Eligible Real Estate and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Term Loan Agreement (Wellsford Real Properties Inc)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Conference Center and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Master Credit Agreement (Wellsford Real Properties Inc)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Collateral subject thereto and that (except with respect to the Mortgages, Assignment of Leases and Rents and UCC Financing Statements relating thereto) all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first first-in-priority lien or security title and security interest in such Real Estate the Project and that all filings, recordings, deliveries of instruments instruments, and the payment of all applicable recording fees and taxes, and all other actions reasonably necessary or desirable to protect and preserve such perfect the liens or security title or security interests created by the Security Documents have been duly effected.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (California Coastal Communities Inc)

Perfection of Liens. Evidence reasonably satisfactory to the Agent that the Security Documents are effective to create in favor of the Agent a legal, valid and enforceable first lien or security title and security interest in such Real Estate the Mortgaged Property and that all filings, recordings, deliveries of instruments and other actions necessary or desirable to protect and preserve such liens or security title or security interests have been duly effected.

Appears in 1 contract

Samples: Loan Agreement (Comstock Homebuilding Companies, Inc.)

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