Common use of Reduction of Secured Amount Clause in Contracts

Reduction of Secured Amount. In the event the amount secured by this Deed of Trust is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the Obligations. So long as the balance of the Obligations exceeds the amount secured hereby, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of Trust. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Property is located or are unsecured.

Reduction of Secured Amount. In the event that the amount secured by this Deed of Trust the Mortgage is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor or the Borrower Mortgagor repays with respect to the Obligations and shall not be reduced by any intervening repayments of payments on the ObligationsObligations unless arising from the Mortgaged Property. So long as the balance of the Obligations exceeds the amount secured hereby, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of TrustMortgage. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Mortgaged Property is located or as are unsecured.

Reduction of Secured Amount. In the event the amount secured by this Deed of Trust Mortgage is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor Mortgagor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the Obligations. So long as the balance of the Obligations exceeds the amount secured hereby, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of TrustMortgage. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Property is located or are unsecured.

Reduction of Secured Amount. In the event that the amount secured by this the Deed of Trust is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the ObligationsObligations unless arising from the Mortgaged Property. So long as the balance of the Obligations exceeds the amount secured herebysecured, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of Trust. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Mortgaged Property is located or as are unsecured.

Reduction of Secured Amount. In the event that the amount secured by this Deed of Trust the Mortgage is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor Mortgagor or the Borrower Company repays with respect to the Obligations and shall not be reduced by any intervening repayments of the ObligationsObligations unless arising from the Mortgaged Property. So long as the balance of the Obligations exceeds the amount secured herebysecured, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of TrustMortgage. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Mortgaged Property is located or as are unsecured.

Reduction of Secured Amount. In the event the amount secured by this Deed of Trust To Secure Debt is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor Grantor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the Obligations. So long as the balance of the Obligations exceeds the amount secured hereby, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of TrustTo Secure Debt. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Property is located or are unsecured.

Reduction of Secured Amount. In the event that the amount secured by this Deed of Trust the Mortgage is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the ObligationsObligations unless arising from the Mortgaged Property. So long as the balance of the Obligations exceeds the amount secured herebysecured, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of Trust. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Mortgaged Property is located or as are unsecured.

Reduction of Secured Amount. In the event the amount secured by this Deed of Trust to Secure Debt is less than the aggregate Obligations, then the amount secured hereby shall be reduced only by the last and final sums that the Trustor Grantor or the Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the Obligations. So long as the balance of the Obligations exceeds the amount secured hereby, any payments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Deed of Trustto Secure Debt. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral located outside of the state in which the Trust Property is located or are unsecured.