Common use of Release of and Resort to Collateral Clause in Contracts

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Documents, the Notes Indenture Documents or any Other First Lien Agreement or the lien priority and security interest in and to the Mortgaged Property. For payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 2 contracts

Samples: Indenture (Fresh Market Holdings, Inc.), Collateral Agreement (Fresh Market Holdings, Inc.)

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Release of and Resort to Collateral. Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Credit Agreement Documents, the Notes Indenture Documents or any Specified Other First Lien Agreement or the lien priority and security interest in and to the Mortgaged Property. For payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 2 contracts

Samples: Mortgage, Security Agreement (Mallinckrodt PLC), Indenture (Mallinckrodt PLC)

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Credit Agreement Documents, the Notes Indenture Documents or any Other First Lien Agreement or the lien priority and security interest in and to the Mortgaged Property. For payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Joinder Agreement (McGraw-Hill Interamericana, Inc.)

Release of and Resort to Collateral. To the fullest extent permitted by law, Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Documents, the Notes Indenture Loan Documents or any Other First Lien Agreement or the their status as a first and prior lien priority and security interest in and to the Mortgaged Property. For payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Grifols SA)

Release of and Resort to Collateral. To the fullest extent permitted by law, Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Documents, the Notes Indenture Credit Documents or any Other First Lien Agreement or the their status as a first and prior lien priority and security interest in and to the Mortgaged Property. For payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Grifols SA)

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Release of and Resort to Collateral. Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate mortgage or lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the mortgage, lien or security interest created in or evidenced by the Note Documents, Credit Agreement and the Notes Indenture other Credit Documents or any Other First Lien Agreement or the their status as a first and prior mortgage, lien priority and security interest in and to the Mortgaged Property. For payment of the Secured ObligationsIndebtedness, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Pantry Inc)

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Documents, the Notes Indenture Loan Documents or any Other First Lien Agreement or the lien priority and security interest in and to the Mortgaged Property. For Upon the occurrence and during the continuance of an Event of Default, for payment of the Secured Obligations, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Intercreditor Agreement (AbitibiBowater Inc.)

Release of and Resort to Collateral. Mortgagee may may, in accordance with Section 11.14 of the Credit Agreement, release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest created in or evidenced by the Note Documents, the Notes Indenture Loan Documents or any Other First Lien Agreement or the their status as a first and prior lien priority and security interest in and to the Mortgaged Property. For payment of the Secured ObligationsIndebtedness, Mortgagee may resort to any other security in such order and manner as Mortgagee may elect, subject to the terms of the Credit Agreement.

Appears in 1 contract

Samples: Assignment and Assumption (Gogo Inc.)

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