Common use of Power to charge Clause in Contracts

Power to charge. At any time prior to the exercise of the Option by [Placer], [Placer] may grant mortgages, charges or liens (each of which is herein called a "MORTGAGE") of and upon the respective interests of [Mr. Almarez] in and to the Property, upon any mill or other fixed xxxxxx xxxated thereon and on any or all of the tangible personal property located on or used in connection with the Property, to secure only the financing of development of the Property; provided that, unless otherwise agreed to by [Mr. Almarez], it shall be a term of each mortgage that the mortgagx xx xxx xxxson acquiring title to [Placer]'s interest in and to the Property, or to any mill or other fixed assets or tangible personal property located on or used in connection with the Property upon enforcement of the mortgage, shall hold the same subject to the rights of [Mr. Almarez] hereunder as if the mortgagee or any such person had exxxxxxx xxis Agreement as party of the first part.

Power to charge. At any time prior to the exercise of the Option by [Placer], [Placer] may grant mortgages, charges or liens (each of which is herein called a "MORTGAGE") of and upon the respective interests of [Mr. Almarez] in and to the Property, upon any mill or other fixed xxxxxx xxxated asxxxx xxxxxed thereon and on any or all of the tangible personal property located on or used in connection with the Property, to secure only the financing of development of the Property; provided that, unless otherwise agreed to by [Mr. Almarez], it shall be a term of each mortgage that the mortgagx mortgage xx xxx xxxson xxxxxn acquiring title to [Placer]'s interest in and to the Property, or to any mill or other fixed assets or tangible personal property located on or used in connection with the Property upon enforcement of the mortgage, shall hold the same subject to the rights of [Mr. Almarez] hereunder as if the mortgagee or any such person had exxxxxxx xxis exexxxxx xxxx Agreement as party of the first part.

Power to charge. At any time prior to the exercise of the Option by [Placer], [Placer] may grant mortgages, charges or liens (each of which is herein called a "MORTGAGE") of and upon the respective interests of [Mr. Almarez] in and to the Property, upon any mill or other fixed xxxxxx xxxated asxxxx xxxxxxd thereon and on any or all of the tangible personal property located on or used in connection with the Property, to secure only the financing of development of the Property; provided that, unless otherwise agreed to by [Mr. Almarez], it shall be a term of each mortgage that the mortgagx mortgage xx xxx xxxson xxxxon acquiring title to [Placer]'s interest in and to the Property, or to any mill or other fixed assets or tangible personal property located on or used in connection with the Property upon enforcement of the mortgage, shall hold the same subject to the rights of [Mr. Almarez] hereunder as if the mortgagee or any such person had exxxxxxx xxis xxxx Agreement as party of the first part.

Power to charge. At any time prior to the exercise of the Option by [Placer], [Placer] may grant mortgages, charges or liens (each of which is herein called a "MORTGAGE") of and upon the respective interests of [Mr. Almarez] in and to the Property, upon any mill or other fixed xxxxxx xxxated assexx xxxxxxx thereon and on any or all of the tangible personal property located on or used in connection with the Property, to secure only the financing of development of the Property; provided that, unless otherwise agreed to by [Mr. Almarez], it shall be a term of each mortgage that the mortgagx xx mortgage or xxx xxxson xxxxxx acquiring title to [Placer]'s interest in and to the Property, or to any mill or other fixed assets or tangible personal property located on or used in connection with the Property upon enforcement of the mortgage, shall hold the same subject to the rights of [Mr. Almarez] hereunder as if the mortgagee or any such person had exxxxxxx xxis Agreement execxxxx xxxx Xgreement as party of the first part.