Common use of Security; Establishment of Funds Clause in Contracts

Security; Establishment of Funds. The Loan shall be evidenced by the Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage creating a first lien (subject to Permitted Encumbrances) on the Property, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as security for the Loan:

Appears in 2 contracts

Samples: Loan Agreement (Lasalle Hotel Properties), Loan Agreement (Lasalle Hotel Properties)

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Security; Establishment of Funds. The Loan shall be evidenced by the Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage creating a first lien (subject to Permitted Encumbrances) on the PropertyProperties, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as security for the Loan:

Appears in 2 contracts

Samples: Loan Agreement (Equity Inns Inc), Loan Agreement (Equity Inns Inc)

Security; Establishment of Funds. The Loan -------------------------------- shall be evidenced by the Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage Mortgages creating a first lien (subject to Permitted Encumbrances) on the PropertyProperties, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as security for the Loan:: (a)

Appears in 1 contract

Samples: Loan Agreement (Winston Hotels Inc)

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Security; Establishment of Funds. The Loan shall be evidenced by the . Note of Borrower, in the original principal amount of the Loan. The Loan shall be secured by the Mortgage creating a first lien (subject to Permitted Encumbrances) on the PropertyProperties, the Assignment of Leases and Rents and the other Loan Documents. As further security for the Loan, Borrower agrees to establish the following reserves with Lender, to be held by Lender as security for the Loan:

Appears in 1 contract

Samples: Loan Agreement (Equity Inns Inc)

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