Real Property Mortgages. The Mortgages are (subject to Section 6.15) effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable Lien on all of the right, title and interest of the Loan Parties in and to the Mortgaged Properties thereunder and the proceeds thereof, and when the Mortgages are filed in the recorders’ offices of the counties in which the Mortgaged Properties are located, the Mortgages shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Mortgaged Properties and the proceeds thereof, in each case securing the Finance Obligations and prior in right to any other Person, other than with respect to Liens permitted by Section 7.01(g) and non-consensual Permitted Liens not perfected by the filing of UCC financing statements whose priority is determined by applicable law (other than with respect to such property of any newly formed or acquired Subsidiary or such newly acquired property to the extent Holdings and the Borrowers are in compliance with Section 6.13).
Real Property Mortgages. The Mortgages are effective to create in favor of the Collateral Agent, for the ratable benefit of the Finance Parties, a legal, valid and enforceable Lien on all of the right, title and interest of the Credit Parties in and to the Mortgaged Properties thereunder and the proceeds thereof, and when the Mortgages are filed in the offices specified on Schedule 5.20(c), the Mortgages shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Credit Parties in such Mortgaged Properties and the proceeds thereof, in each case prior in right to any other Person, other than with respect to Permitted Liens.
Real Property Mortgages. The Mortgages are effective to create in favor of the Collateral Agent, for the ratable benefit of the Finance Parties, a legal, valid and enforceable Lien on all of the right, title and interest of the Loan Parties in and to the Mortgaged Properties thereunder and the proceeds thereof, and when the Mortgages are filed in the offices specified on SCHEDULE 5.20(c), the Mortgages shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Mortgaged Properties and the proceeds thereof, in each case prior in right to any other Person, other than with respect to Permitted Liens.
Real Property Mortgages. Within 90 days of the Closing Date (as such time period may be extended by the Administrative Agent in its sole discretion) with respect to any Mortgaged Property owned in fee simple by any Loan Party on the Closing Date:
Real Property Mortgages. The Administrative Agent shall have received from the Company:
Real Property Mortgages. Allow the Agent on behalf of the Tranche A Lenders to file Mortgages on all Real Property Collateral now owned or hereafter acquired and wherever located of the Borrowers and in connection therewith (i) evidence of the recording of the Mortgages in such office or offices as may be necessary or, in the opinion of the Agent, desirable to create and perfect a valid and enforceable first priority Lien on the Real Property Collateral purported to be covered thereby or to otherwise protect the rights of the Agent and the Lenders thereunder, (ii) a Title Insurance Policy, (iii) a survey of such Real Property Collateral, certified to the Agent and to the issuer of the Title Insurance Policy by a licensed professional surveyor reasonably satisfactory to the Agent, (iv) Phase I Environmental Site Assessments with respect to such Real Property Collateral, certified to the Agent by a company reasonably satisfactory to the Agent, and (v) such other agreements, instruments, approvals, legal opinions or other documents reasonably requested by the Agent in order to create, perfect, establish the first priority of or otherwise protect any Lien purported to be covered by any such Mortgage.
Real Property Mortgages. Within 90 days of the Restatement Effective Date (as such time period may be extended by the Administrative Agent in its sole discretion) with respect to any Mortgaged Property owned in fee simple by any Loan Party on the Restatement Effective Date, provide to the Administrative Agent an amendment to the Mortgage covering such Mortgaged Property and other documents reasonably requested by the Administrative Agent granting the Administrative Agent a first priority Lien on such Real Estate, together with mortgagee title insurance policies in an amount equal to the current fair market value of such Mortgaged Property, real property surveys (or affidavits of no change), opinion(s) and, if reasonably required by the Administrative Agent, supplemental casualty insurance and flood insurance, and such other documents, instruments or agreements reasonably requested by the Administrative Agent, in each case, in form and substance reasonably satisfactory to the Administrative Agent.
Real Property Mortgages. The applicable Credit Parties and the Security Agent shall comply with Section 8.12. · The applicable Credit Parties and the Security Agent shall have prepared and filed UCC-3 termination statements with respect to existing fixture filings recorded in Garfield County, Oklahoma within three (3) Business Days.
Real Property Mortgages. Section 3.22 of the Seller's Disclosure Schedule sets forth a list of all real property mortgages currently included in the Company's and each Subsidiary's admitted assets. Unless otherwise noted on such schedule, each such asset is currently, and has regularly been, performing, and not, whether with notice or lapse of time or both, in default. The Seller or one of its Affiliates holds a secured first priority Lien on the collateral securing each such asset. On or before Closing, the Seller shall purchase from the Company or the applicable Subsidiary any asset designated as non-performing on such schedule for cash, in immediately available funds, for a purchase price equal to the applicable unpaid principal amount plus accrued and unpaid interest. From and after Closing, the Seller shall reimburse the Purchaser for all of its reasonable costs associated with any foreclosure proceedings that may be necessary in connection with any such assets that become non-performing prior to their scheduled date of maturity. The Purchaser shall provide Sierra with prompt written notice of any such non-performance and an opportunity to purchase any such non-performing asset prior to the Purchaser's commencement of foreclosure proceedings as permitted by the applicable mortgage instrument or Applicable Law. To the extent that any such foreclosure results in the Company or the Subsidiary receiving assets or property having a value less than the defaulted amount of the asset, Sierra shall promptly deliver to the Company or the applicable Subsidiary an amount of cash, in immediately available funds, equal to such difference. On or within ten (10) Business Days of March 1, 2005, the Seller shall purchase for cash, in immediately available funds, from the Company or the applicable Subsidiary, each such asset for a purchase price equal to the applicable unpaid principal amount plus accrued and unpaid interest. Such purchase shall be effected pursuant to customary agreements in form and substance reasonably satisfactory to the Seller, the Purchaser and the Company or the applicable Subsidiary.
Real Property Mortgages. (a) Set forth on Schedule 6.18(a) is a complete and accurate list, as of the date of this Agreement, of the address of any real property owned or leased by the Company or any Subsidiary, together with, in the case of leased property, the last known name and mailing address of the lessor of such property; and (b) each Mortgage listed on Schedule 6.18(b) creates a valid Lien in favor of the Administrative Agent on the property subject thereto.
