Common use of Recordings and Filings; Books and Records Clause in Contracts

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer to the Indenture Trustee pursuant to the granting clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the applicable Leases to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause (with respect to the Properties owned by such Issuer): (A) each Mortgage referred to in the definition of “Lease File” herein to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property records, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein to be issued as a Title Insurance Policy by the title companies (the “Title Companies”) issuing the same. Each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian); provided, that delivery of a copy of each such Mortgage with recording information within 30 days of the Property Manager’s receipt of such recorded Mortgage shall satisfy the foregoing. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title Company. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager shall cause the same to be duly recorded. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager to perform such obligations.

Appears in 2 contracts

Samples: Management and Servicing Agreement (American Finance Trust, Inc), Management and Servicing Agreement (American Finance Trust, Inc)

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Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing First Collateral Date or Transfer Date with respect thereto for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable First Collateral Date) cause each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the US-DOCS\96557504.296557504.7 Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain therefrom a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 2 contracts

Samples: Management and Servicing Agreement, Management and Servicing Agreement (Spirit MTA REIT)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing First Collateral Date or Transfer Date with respect thereto for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title CompaniesCompanies ”) issuing the samesame (the “ Title Insurance Policies ”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable First Collateral Date) cause each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian); provided, that delivery of a copy of and each such Mortgage with recording information within 30 days of Financing Statement shall reflect that the Property Manager’s receipt of such recorded Mortgage shall satisfy the foregoing. Each of the Title Companies issuing the Title Insurance Policies shall file copy thereof should be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee), who shall then deliver such recorded document returned to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of Trustee (or to the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title Company. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager shall cause the same to be duly recorded. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager to perform such obligations.40 US-DOCS\ 96557504.7 102826315.7

Appears in 2 contracts

Samples: Management and Servicing Agreement (Spirit MTA REIT), Management and Servicing Agreement (Spirit Realty, L.P.)

Recordings and Filings; Books and Records. (ac) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing First Collateral Date or Transfer Date with respect thereto for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable First Collateral Date) cause each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain therefrom a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Management and Servicing Agreement (Spirit Realty Capital, Inc.)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing First Collateral Date or Transfer Date with respect thereto for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable First Collateral Date) cause each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian); provided, that delivery of a copy of and each such Mortgage with recording information within 30 days of Financing Statement shall reflect that the Property Manager’s receipt of such recorded Mortgage shall satisfy the foregoing. Each of the Title Companies issuing the Title Insurance Policies shall file copy thereof should be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee), who shall then deliver such recorded document returned to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts Trustee (or to diligently pursue with the Title Companies the return of each of the Mortgages from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title Company. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager shall cause the same to be duly recorded. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager to perform such obligations.the

Appears in 1 contract

Samples: Management and Servicing Agreement (Spirit Realty, L.P.)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each the Issuer to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each the Issuer shall cause the delivery of the applicable Lease Files for the applicable Leases and the Loan Files for the Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such the Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): the Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such the Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans, promptly (and in any event within 60 days following the applicable Series Closing Date or Transfer Date) each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on Form UCC-2 and UCC-3 in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian); provided, that delivery of a copy of and each such Mortgage with recording information within 30 days Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Property Manager’s receipt of such recorded Mortgage shall satisfy the foregoing. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded filed document to the Custodian)) following filing; provided, that, in each case those instances where the public recording office retains the original Mortgage, assignment of Mortgage and assignment of Assignment of Leases, the Property Manager, on behalf of the Indenture Trustee, shall obtain therefrom a certified copy of the recorded original. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the Issuer to deliver such policies to the Custodian, for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Property Management Agreement (Spirit Finance Corp)

Recordings and Filings; Books and Records. (ac) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable Series Closing Date or Transfer Date) each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain therefrom a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Property Management Agreement (Spirit Realty Capital, Inc.)

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Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable Series Closing Date or Transfer Date) each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on Form UCC-2 and UCC-3 in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain there from a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Management and Servicing Agreement (Spirit Finance Corp)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing First Collateral Date or Transfer Date with respect thereto for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable First Collateral Date) cause each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on the applicable UCC form in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain therefrom a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Spirit MTA REIT)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer the Issuers to the Indenture Trustee pursuant to the granting clause Granting Clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the Leases and the applicable Leases Loan Files for the applicable Mortgage Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Mortgaged Properties owned by such Issuer): Issuer (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein in the Custody Agreement to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein in the Custody Agreement to be issued as a Title Insurance Policy final title insurance policy by the title companies (the “Title Companies”) issuing the samesame (the “Title Insurance Policies”); and (ii) with respect to the Mortgage Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable Series Closing Date or Transfer Date) each assignment of Mortgage in favor of the Collateral Agent referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on Form UCC-2 and UCC-3 in favor of the Collateral Agent referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such filed document to the Custodian) following filing; provided, that delivery in those instances where the public recording office retains the original Mortgage, assignment of a copy Mortgage and assignment of each such Mortgage with recording information within 30 days Assignment of Leases, the Property Manager’s receipt , on behalf of such the Indenture Trustee, shall obtain therefrom a certified copy of the recorded Mortgage shall satisfy the foregoingoriginal. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee)Custodian, who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages Mortgages, assignments of Mortgage and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title CompanyCompanies. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager applicable Issuer shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager such Issuer shall cause the same to be duly recordedrecorded or filed, as appropriate. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager shall file any continuation statements necessary to perform such obligationscontinue the effectiveness of the Financing Statements.

Appears in 1 contract

Samples: Management and Servicing Agreement (Spirit Finance Corp)

Recordings and Filings; Books and Records. (a) In connection with the Grant made by each Issuer to the Indenture Trustee pursuant to the granting clause of the Indenture, each Issuer shall cause the delivery of the applicable Lease Files for the applicable Leases and the applicable Loan Files for the applicable Loans to the Custodian in accordance with the Custody Agreement (which may provide for electronic delivery with respect to certain items specified therein) for the benefit of the Indenture Trustee in furtherance of such Grant and such Issuer shall cause cause: (i) with respect to the Properties owned by such Issuer): : (A) each Mortgage Mortgage, Financing Statement and continuation statement referred to in the definition of “Lease File” herein to be submitted to the appropriate Title Company (as defined below) on or before the applicable Series Closing Date or Transfer Date for recording or filing, as the case may be, in the appropriate public office for real property recordsrecords or for Financing Statements, at the expense of such Issuer and (B) each title insurance binder or commitment referred to in the definition of “Lease File” herein to be issued as a Title Insurance Policy by the title companies (the “Title Companies”) issuing the samesame and (ii) with respect to the Loans owned by such Issuer, promptly (and in any event within 60 days following the applicable Series Closing Date or Transfer Date) each assignment of Mortgage in favor of the Indenture Trustee referred to in clauses (v) and (vi) of the definition of “Loan File” in the Custody Agreement and each Financing Statement on Form UCC-2 and UCC-3 in favor of the Indenture Trustee referred to in clause (iii) of such definition to be submitted for recording or filing, as the case may be, in the appropriate public office for real property records or for Financing Statements. Each such assignment and each Mortgage shall reflect that, following recording, it should be returned by the public recording office to the Custodian, on behalf of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), and each such Financing Statement shall reflect that the file copy thereof should be returned to the Custodian, for the benefit of the Indenture Trustee (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian) following filing; provided, that delivery of a copy of each such Mortgage with recording information within 30 thirty (30) days of the Property Manager’s receipt of such recorded Mortgage shall satisfy the foregoing. Each of the Title Companies issuing the Title Insurance Policies shall be instructed by the applicable Issuer to deliver such policies to the Custodian (or to the Property Manager (or its designee), who shall then deliver such recorded document to the Custodian), in each case for the benefit of the Indenture Trustee. The Property Manager, on behalf of the Indenture Trustee, shall use reasonable efforts to diligently pursue with the Title Companies the return of each of the Mortgages, assignments of Mortgages and Financing Statements from the appropriate recording or filing offices and the delivery of the Title Insurance Policies by the related Title Company. If any such document or instrument is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Indenture Trustee or the Custodian shall notify the Property Manager and the Property Manager shall promptly prepare and cause to be executed a substitute therefor or cure such defect, as the case may be, and thereafter, the Property Manager shall cause the same to be duly recordedrecorded or filed, as appropriate. The Property Manager shall file any continuation statements necessary to continue the effectiveness of the Financing Statements. The Indenture Trustee and the related Issuer shall cooperate as necessary for the Property Manager to perform such obligations.

Appears in 1 contract

Samples: Management and Servicing Agreement (Essential Properties Realty Trust, Inc.)

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