Common use of Revolving Line of Credit Clause in Contracts

Revolving Line of Credit. Mortgagor acknowledges and agrees that (a) the Revolving Notes evidence a revolving line of credit and indebtedness evidenced by the Revolving Notes may be repaid and readvanced from time to time, (b) this Mortgage shall secure all additional or future advances and readvances of principal under the Revolving Notes, (c) the line of credit evidenced by the Revolving Notes and secured by this Mortgage shall be used primarily for business or commercial purposes, (d) this Mortgage shall remain in full force and effect, without loss of priority, until the earlier of (i) the payment in full of the Obligations (other than Unasserted Obligations) and the receipt of Mortgagee of Mortgagor’s written request to terminate the line of credit evidenced by the Revolving Notes and secured by this Mortgage or (ii) the termination or maturity of the line of credit evidenced by the Revolving Notes and secured by this Mortgage (whether by acceleration or otherwise) and the payment in full of the Obligations (other than Unasserted Obligations), or (iii) as otherwise provided in Section 9.7 hereof and (e) this Mortgage shall not be extinguished as a result of the Obligations evidenced by the Revolving Notes having a zero balance from time to time (and, to the full extent permitted by applicable law, Mortgagor hereby waives the operation of any applicable law, statutory or otherwise, having a contrary effect).

Appears in 2 contracts

Samples: Credit Agreement (Hexcel Corp /De/), Credit Agreement (Hexcel Corp /De/)

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Revolving Line of Credit. Mortgagor Grantor acknowledges and agrees that (a) the Credit Agreement and the Revolving Notes evidence a revolving line of credit and indebtedness evidenced by the Revolving Notes which may be repaid and readvanced from time to time, (b) this Mortgage Deed of Trust shall secure all additional or future advances and readvances of principal under the Credit Agreement and the Revolving Notes, (c) the line of credit evidenced by the Credit Agreement and the Revolving Notes and secured by this Mortgage Deed of Trust shall be used primarily for business or commercial purposes, (d) this Mortgage Deed of Trust shall remain in full force and effect, without loss of priority, until the earlier of (i) the payment and performance in full of the Indebtedness and the Obligations (other than Unasserted Obligations) and the receipt by Beneficiary of Mortgagee of MortgagorGrantor’s written request to terminate the line of credit evidenced by the Credit Agreement and the Revolving Notes and secured by this Mortgage Deed of Trust or (ii) the termination or maturity of the line of credit evidenced by the Credit Agreement and the Revolving Notes and secured by this Mortgage Deed of Trust (whether by acceleration or otherwise) and the payment and performance in full of the Indebtedness and the Obligations (other than Unasserted Obligations), or (iii) as otherwise provided in Section 9.7 hereof and (e) this Mortgage Deed of Trust shall not be extinguished as a result of the Indebtedness and Obligations evidenced by the Credit Agreement and the Revolving Notes having a zero balance from time to time (and, to the full extent permitted by applicable law, Mortgagor Grantor hereby waives the operation of any applicable law, statutory or otherwise, having a contrary effect).

Appears in 2 contracts

Samples: Credit Agreement (Skilled Healthcare Group, Inc.), Credit Agreement (Skilled Healthcare Group, Inc.)

Revolving Line of Credit. Mortgagor Grantor acknowledges and agrees that (a) the Revolving Notes evidence Credit Agreement evidences a revolving line of credit and indebtedness evidenced by the Revolving Notes which may be repaid and readvanced from time to time, (b) this Mortgage Deed of Trust shall secure all additional or future advances and readvances of principal under the Revolving NotesCredit Agreement, (c) the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust shall be used primarily for business or commercial purposes, (d) this Mortgage Deed of Trust shall remain in full force and effect, without loss of priority, until the earlier of (i) the payment and performance in full of the Indebtedness and the Obligations (other than Unasserted Obligations) and the receipt by Beneficiary of Mortgagee of MortgagorGrantor’s written request to terminate the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust or (ii) the termination or maturity of the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust (whether by acceleration or otherwise) and the payment and performance in full of the Obligations (other than Unasserted Indebtedness and the Obligations), or (iii) as otherwise provided in Section 9.7 hereof and (e) this Mortgage Deed of Trust shall not be extinguished as a result of the Indebtedness and Obligations evidenced by the Revolving Notes Credit Agreement having a zero balance from time to time (and, to the full extent permitted by applicable law, Mortgagor Grantor hereby waives the operation of any applicable law, statutory or otherwise, having a contrary effect).

Appears in 1 contract

Samples: Maxxam Inc

Revolving Line of Credit. Mortgagor acknowledges and agrees that (a) the Revolving Notes evidence a revolving line of credit and indebtedness evidenced by the Revolving Notes may be repaid and readvanced from time to time, (b) this Mortgage shall secure all additional or future advances and readvances of principal under the Revolving Notes, (c) the line of credit evidenced by the Revolving Notes and secured by this Mortgage shall be used primarily for business or commercial purposes, (d) this Mortgage shall remain in full force and effect, without loss of priority, until the earlier of (i) the payment and performance in full of the Indebtedness and the Obligations (other than Unasserted Obligations) and the receipt of Mortgagee of Mortgagor’s 's written request to terminate the line of credit evidenced by the Revolving Notes and secured by this Mortgage or (ii) the termination or maturity of the line of credit evidenced by the Revolving Notes and secured by this Mortgage (whether by acceleration or otherwise) and the payment and performance in full of the Obligations (other than Unasserted Indebtedness and the Obligations), or (iii) as otherwise provided in Section 9.7 hereof and (e) this Mortgage shall not be extinguished as a result of the Indebtedness and Obligations evidenced by the Revolving Notes having a zero balance from time to time (and, to the full extent permitted by applicable law, Mortgagor hereby waives the operation of any applicable law, statutory or otherwise, having a contrary effect).. Exh. XIV-19

Appears in 1 contract

Samples: Credit Agreement (Sybron Dental Specialties Inc)

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Revolving Line of Credit. Mortgagor Grantor acknowledges and agrees that (a) the Revolving Notes evidence Credit Agreement evidences a revolving line of credit and indebtedness evidenced by the Revolving Notes which may be repaid and readvanced from time to time, (b) this Mortgage Deed of Trust shall secure all additional or future advances and readvances of principal under the Revolving NotesCredit Agreement, (c) the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust shall be used primarily for business or commercial purposes, (d) this Mortgage Deed of Trust shall remain in full force and effect, without loss of priority, until the earlier of (i) the payment and performance in full of the Indebtedness and the Obligations (other than Unasserted Obligations) and the receipt by Beneficiary of Mortgagee of Mortgagor’s Grantor's written request to terminate the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust or (ii) the termination or maturity of the line of credit evidenced by the Revolving Notes Credit Agreement and secured by this Mortgage Deed of Trust (whether by acceleration or otherwise) and the payment and performance in full of the Obligations (other than Unasserted Indebtedness and the Obligations), or (iii) as otherwise provided in Section 9.7 hereof and (e) this Mortgage Deed of Trust shall not be extinguished as a result of the Indebtedness and Obligations evidenced by the Revolving Notes Credit Agreement having a zero balance from time to time (and, to the full extent permitted by applicable law, Mortgagor Grantor hereby waives the operation of any applicable law, statutory or otherwise, having a contrary effect).

Appears in 1 contract

Samples: Maxxam Inc

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