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 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 mortgage xx xxx 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 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 asxxxx xxxxxed 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 mortgage mortgagx xx xxx xxxxxn 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 exexxxxx xxxx 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 asxxxx xxxxxed 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 mortgage xx xxx xxxxxn 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 exexxxxx exxxxxxx 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 asxxxx xxxxxed 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 mortgage xx or xxx xxxxxn 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 exexxxxx execxxxx xxxx Agreement Xgreement as party of the first part.