Secured Amount. Should the Secured Amount be paid according to the tenor and effect thereof when the same becomes due and payable hereunder, and should Lessee perform all covenants contained in the Operative Documents in a timely manner, then this Mortgage shall be cancelled and surrendered.
Secured Amount. The maximum aggregate amount of all indebtedness that is, or under any contingency may be secured at the date hereof or at any time hereafter by this Mortgage is $[ ]2 (the “Secured Amount”), plus, to the extent permitted by applicable law, collection costs, sums advanced for the payment of taxes, assessments, maintenance and repair charges, insurance premiums and any other costs incurred to protect the security encumbered hereby or the lien hereof, expenses incurred by the Mortgagee by reason of any default by the Mortgagor under the terms hereof, together with interest thereon, all of which amount shall be secured hereby.
Secured Amount. The Company shall not at any time permit the Secured Amount to be less than the Tranche A Loan Limit.
Secured Amount. Each Future Advance shall be considered an advance of the Loan Amount, shall be added to the unpaid principal balance of the Loan as of the day such advance is made for purposes of Borrower’s payment obligations under this Agreement, and repayment thereof, together with interest thereon, shall be secured by the Mortgage and other collateral given for the Loan. No waiver given by Note B-2 Lender of any condition precedent to a Future Advance shall preclude Note B-2 Lender from requiring that such condition be satisfied prior to making any other Future Advance.
Secured Amount. The amount secured under this Agreement is limited to a maximum principal amount equal to the lesser of (i) the Secured Obligations and (ii) USD 1,750,000,000 plus any unpaid amounts of interest and default interest under the Note Documents and enforcement costs.
Secured Amount. The maximum aggregate amount of all indebtedness that is, or under any contingency may be secured at the date hereof or at any time hereafter by this Mortgage is $[ ] (the “Secured Amount”), plus, to the extent permitted by applicable law, collection costs, sums advanced for the payment of taxes, assessments, maintenance and repair charges, insurance premiums and any other costs incurred to protect the security encumbered hereby or the lien hereof, expenses incurred by the Mortgagee by reason of any default by the Mortgagor under the terms hereof, together with interest thereon, all of which amount shall be secured hereby. So long as the aggregate amount of the Obligations exceeds the Secured Amount, any payments and repayments of the Obligations shall not be deemed to be applied against or to reduce the Secured Amount.
Secured Amount. The Borrower and Lender represent to IDL that the amount secured by the Mortgage does not exceed the greater of: (1) the current fair market value of the improvements owned or controlled by Borrower that are currently or will be located on the Leased Premises; (2) the value of existing improvements, if any, and any improvements to be constructed on the Leased Premises as a result of the amount loaned by Xxxxxx to Borrower; or (3) an amount equal to the annual operating expenses for Borrower's activities on the Leased Premises. Any improvements owned by Borrower constitute the personal property of Xxxxxxxx and shall be dealt with in accordance with the terms and conditions of the Lease.
Secured Amount. (a) For purposes of this Mortgage and in order to comply with Title 46, Section 31321(b)(3) of the United States Code, the parties to this Mortgage hereby declare that the Indebtedness secured hereby as of the date hereof is the sum of FIVE MILLION, EIGHT HUNDRED, TWENTY-SEVEN THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($5,827,500.00), as the principal amount of Indebtedness together with performance of mortgage covenants. The discharge amount is the same as the total amount, together with interest, attorneys' fees, costs and other expenses and performance of mortgage covenants.
Secured Amount. Should the Secured Amount be paid according to the tenor and effect thereof when the same becomes due and payable hereunder, and should the Lessee perform all covenants contained in the Operative Documents in a timely manner, then the Trustee and the Secured Party shall, at the expense of the Lessee, cause this Mortgage to be released. Such release shall be effected in accordance with the provisions of the Applicable Laws of the State of West Virginia then in effect.
Secured Amount. Subject to the next two sentences, the amount that is secured (the "Secured Amount") by the Collateral Assignment and repayable to the Company upon the occurrence of the Rollout Date shall (a) if the Rollout Date is triggered by the death of the Participant, be equal to the excess of the Policy Death Benefit over the Participant Death Benefit (as listed in Exhibit A) or (b) if the Rollout Date is triggered by any other event, be equal to the lesser of the Policy's cash surrender value or the Company Premiums. Notwithstanding the preceding sentence, if the Participant's employment with the Company is terminated for Cause or if the Participant's employment with the Company is terminated (voluntarily or involuntarily) when the Participant is not vested in his or her Policy pursuant to Section 3.04, then the Secured Amount shall be equal to the cash surrender value of the Policy. Further, in all cases, the then current outstanding dollar amount, if any, that the Company has borrowed from the Policy pursuant to terms of this Agreement and the Policy shall reduce the Secured Amount.
