Renewals of Indebtedness. It is understood and agreed that the proceeds of the Note or of any further loans or advances, to the extent the same are utilized to renew or extend any indebtedness or take up any outstanding liens against the Mortgaged Property, or any portion thereof, have been advanced by Beneficiary at Grantor’s request and upon Grantor’s representation that such amounts are due and payable. Beneficiary shall be subrogated to any and all rights and liens owned or claimed by any owner or holder of such outstanding rights and liens, however remote, regardless of whether such rights and liens are acquired by assignment or are released by the holder thereof upon payment.
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Samples: Subordinate Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.)
Renewals of Indebtedness. It is understood and agreed that the proceeds of the Note or of any further loans or advances, to the extent the same are utilized to renew or extend any indebtedness or take up any outstanding liens against the Mortgaged Property, or any portion thereof, have been advanced by Beneficiary at Grantor’s request and upon Grantor’s representation Granxxx’x xepresentation that such amounts are due and payable. Beneficiary shall be subrogated to any and all rights and liens owned or claimed by any owner or holder of such outstanding rights and liens, however remote, regardless of whether such rights and liens are acquired by assignment or are released by the holder thereof upon payment.
Appears in 2 contracts
Samples: Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Subordinate Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.)
Renewals of Indebtedness. It is understood and agreed that the proceeds of the Note Notes or of any further loans or advances, to the extent the same are utilized to renew or extend any indebtedness or take up any outstanding liens against the Mortgaged Property, or any portion thereof, have been advanced by Beneficiary at Grantor’s request and upon Grantor’s representation that such amounts are due and payable. Beneficiary shall be subrogated to any and all rights and liens owned or claimed by any owner or holder of such outstanding rights and liens, however remote, regardless of whether such rights and liens are acquired by assignment or are released by the holder thereof upon payment.
Appears in 2 contracts
Samples: Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.)
Renewals of Indebtedness. It is understood and agreed that the proceeds of the Note Notes or of any further loans or advances, to the d a extent the same are utilized to renew or extend any indebtedness or take up any outstanding liens against the Mortgaged Property, or any portion thereof, have been advanced by Beneficiary at Grantor’s request and upon Grantor’s representation that such amounts are due and payable. Beneficiary shall be subrogated to any and all rights and liens owned or claimed by any owner or holder of such outstanding rights and liens, however remote, regardless of whether such rights and liens are acquired by assignment or are released by the holder thereof upon payment.
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