Common use of Perfection Upon Recordation Clause in Contracts

Perfection Upon Recordation. Grantor acknowledges that Grantee has taken all reasonable actions necessary to obtain, and that upon recordation of this Security Deed, Grantee shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Security Deed, Grantee’s interest in the Rents shall be deemed to be fully perfected, “xxxxxx” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Security Deed, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Grantee has Beneficiary and Trustee have taken all reasonable actions necessary to obtain, and that upon recordation of this Security DeedDeed of Trust, Grantee Beneficiary and Trustee shall have, to the extent permitted under applicable law, a valid and fully perfected, first second priority, present assignment of the Rents arising out of the Leases and all security for such Leases Leases, subject only to the Permitted Liens and in the case of security deposits, rights of depositors and requirements of lawFirst Liens. Grantor acknowledges and agrees that upon recordation of this Security Deed, Grantee’s Deed of Trust Trustee's (for the benefit of Beneficiary) and Beneficiary's interest in the Rents shall be deemed to be fully perfected, “"xxxxxx” " and enforced as to Grantor and to the extent permitted under applicable law, all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “"Bankruptcy Code”"), without the necessity of commencing a foreclosure action with respect to this Security DeedDeed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Grantee Beneficiary has taken all reasonable actions necessary to obtain, and that upon recordation of this Security Deed, Grantee Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Security DeedDeed of Trust, GranteeBeneficiary’s interest in the Rents shall be deemed to be fully perfected, “xxxxxx” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Security DeedDeed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Grantee Beneficiary has taken all reasonable actions necessary to obtain, and that upon recordation of this Security Deed, Grantee Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Liens and in the case of security deposits, rights of depositors and requirements of law. Grantor acknowledges and agrees that upon recordation of this Security Deed, GranteeDeed of Trust Beneficiary’s interest in the Rents shall be deemed to be fully perfected, “xxxxxx” and enforced as to Grantor and all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “Bankruptcy Code”), without the necessity of commencing a foreclosure action with respect to this Security DeedDeed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.

Perfection Upon Recordation. Grantor acknowledges that Grantee has Beneficiary and Trustee have taken all reasonable actions necessary to obtain, and that upon recordation of this Security DeedDeed of Trust, Grantee Beneficiary and Trustee shall have, to the extent permitted under applicable law, a valid and fully perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases subject to the Permitted Liens and in the case of security deposits, rights of depositors and requirements of lawLeases. Grantor acknowledges and agrees that upon recordation of this Security Deed, Grantee’s Deed of Trust Trustee's (for the benefit of Beneficiary) and Beneficiary's interest in the Rents shall be deemed to be fully perfected, “"xxxxxx” " and enforced as to Grantor and to the extent permitted under applicable law, all third parties, including, without limitation, any subsequently appointed trustee in any case under Title 11 of the United States Code (the “"Bankruptcy Code”"), without the necessity of commencing a foreclosure action with respect to this Security DeedDeed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action.