Common use of Statutory Construction Clause in Contracts

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 3 contracts

Samples: Pledge and Security Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Guaranty and Contribution Agreement (LaSalle Hotel Properties)

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Statutory Construction. The clauses and covenants contained in this Mortgage Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.43.07(e)). The additional clauses and covenants contained in this Mortgage Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.43.07(e)), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageInstrument, the provisions of this Mortgage Instrument shall prevail.

Appears in 3 contracts

Samples: Mortgage and Security Agreement, Mortgage and Security Agreement (250 West 57th St Associates L.L.C.), Agreement (60 East 42nd Street Associates L.L.C.)

Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.423.3). The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.423.3), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage Security Instrument shall prevail.

Appears in 2 contracts

Samples: Extension Agreement (Unitel Video Inc/De), Management Agreement (Sl Green Realty Corp)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as otherwise provided in Section 6.4herein). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as otherwise provided in Section 6.4herein), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 2 contracts

Samples: Lightstone Value Plus Real Estate Investment Trust, Inc., Lightstone Value Plus Real Estate Investment Trust, Inc.

Statutory Construction. The clauses and covenants contained in provisions of this Mortgage that are construed by shall be in addition to the provisions set forth in Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4). The additional clauses of New York, and covenants the provisions contained in this Mortgage Mortgage, the Indenture and the other Security Documents shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by provisions set forth in said Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.48.4 above), notwithstanding that such additional clauses and covenants provisions may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by provisions set forth in said Section 254. The rights of Mortgagee arising under the clauses and covenants provisions contained in this Mortgage Mortgage, the Indenture and the other Security Documents shall be separate, distinct and cumulative cumulative, and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In Except as provided in Section 8.4 above, in the event of any inconsistencies conflict between the provisions of Section 254 of the New York Real Property Law and the provisions of this Mortgage, the Indenture and the other Security Documents, the provisions of this Mortgage affording Mortgagee greater rights or protection shall prevail.

Appears in 1 contract

Samples: Planet Hollywood International Inc

Statutory Construction. The clauses and covenants contained in this Mortgage Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.43.07(e)). The additional clauses and covenants contained in this Mortgage Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.43.07(e)), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageInstrument, the provisions of this Mortgage Instrument shall prevail.. Prudential Loan No. 7061xxxxx Xxxx Building Supplemental Loan Mortgage and Security Agreement

Appears in 1 contract

Samples: Security Agreement (250 West 57th St Associates L.L.C.)

Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4)254. The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4)rights, notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage the Security Instrument shall prevail.

Appears in 1 contract

Samples: Clear (Corporate Property Associates 15 Inc)

Statutory Construction. All rights and remedies conferred upon a mortgagee pursuant to those sections of the New York Real Property Law which construe mortgages containing specific statutory language, including Section 254 thereof, are intended to be conferred upon Agent and Lenders, in addition to, and not in limitation of, all other rights and remedies of Agent and Lenders hereunder, at law or in equity. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.48.5 hereof). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.48.5 hereof), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Mortgage Modification Agreement (Acadia Realty Trust)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.456(b)). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.456(b)), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee or any of the Lenders shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Oneida LTD

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.456(b). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.456(b), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee or any of the Lenders shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: And Security Agreement (Oneida LTD)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.414.4). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.414.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Mortgage Modification Agreement (New Enterprise Stone & Lime Co., Inc.)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.453(b)). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter alter, or defeat such rights (except as provided in Section 6.453(b)), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct distinct, and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee or any of the Lenders shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: And Security Agreement (BMC Industries Inc/Mn/)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.. Exh. G-1-22

Appears in 1 contract

Samples: Term Loan Agreement (Hersha Hospitality Trust)

Statutory Construction. The clauses and covenants ----------------------- contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.424.3). The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.424.3), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage Security Instrument shall prevail.

Appears in 1 contract

Samples: Agreement (Sl Green Realty Corp)

Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 (except as provided in Section 17.4 hereof) of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4)254. The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.417.4 hereof), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage the Security Instrument shall prevail.

Appears in 1 contract

Samples: Restatement Agreement (KBS Real Estate Investment Trust, Inc.)

Statutory Construction. The clauses and covenants contained in this Mortgage Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections paragraphs (except as provided in Section 6.4paragraph 40.4). The additional clauses and covenants contained in this Mortgage Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4paragraph 40.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageInstrument, the provisions of this Mortgage Instrument shall prevail.

Appears in 1 contract

Samples: Severance Lease (New York Times Co)

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Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.420.4). The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.420.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage Security Instrument shall prevail.

Appears in 1 contract

Samples: Security Agreement (Reading International Inc)

Statutory Construction. The clauses and covenants contained in this Mortgage Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections paragraphs (except as provided in Section 6.4PARAGRAPH 40.4). The additional clauses and covenants contained in this Mortgage Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4PARAGRAPH 40.4), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageInstrument, the provisions of this Mortgage Instrument shall prevail.

Appears in 1 contract

Samples: Corporate Property Associates 17 - Global INC

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.4)254. The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4)rights, notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Harland Financial Solutions, Inc.

Statutory Construction. The clauses and covenants contained in provisions of this Mortgage that are construed by Section 254 of the New York Real Property Law of the State of New York shall be construed as provided in those sections (such Section 254, except as provided in Section 6.4)10.6 below. The additional clauses and covenants provisions contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by such Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.410.6 below), notwithstanding that such additional clauses and covenants provisions may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants provisions construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in provisions of this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 this Mortgage and the provisions of this Mortgagesuch Section 254, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Management Agreement (GTJ REIT, Inc.)

Statutory Construction. All rights and remedies conferred upon Lender pursuant to those sections of the Real Property Law of the State of New York (the “RPL”) which construe mortgages containing specific statutory language, including Section 254 thereof, are intended to be conferred upon Lender, in addition to, and not in limitation of, all other rights and remedies of Lender hereunder, at law or in equity. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law RPL shall be construed as provided in those sections (except as provided in Section 6.48.4(b) hereof). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.48.4(b) hereof), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (GTJ REIT, Inc.)

Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.422.3). The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.422.3), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage Security Instrument shall prevail.

Appears in 1 contract

Samples: Empire Resorts Inc

Statutory Construction. The clauses and covenants contained in this Mortgage Security Instrument that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided provide in Section 6.4)254. The additional clauses and covenants contained in this Mortgage Security Instrument shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4)rights, notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee Lender arising under the clauses and covenants contained in this Mortgage Security Instrument shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Lender shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this MortgageSecurity Instrument, the provisions of this Mortgage Security Instrument shall prevail.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Morgans Hotel Group Co.)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law of New York shall be construed as provided in those sections (except as provided in Section 6.4)sections. The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter or defeat such rights (except as provided in Section 6.4)rights, notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee the Bank arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee Bank shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Modification and Extension Agreement (Document Security Systems Inc)

Statutory Construction. The clauses and covenants contained in this Mortgage that are construed by Section 254 of the New York Real Property Law shall be construed as provided in those sections (except as provided in Section 6.456(b)). The additional clauses and covenants contained in this Mortgage shall afford rights supplemental to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify, alter alter, or defeat such rights (except as provided in Section 6.456(b)), notwithstanding that such additional clauses and covenants may relate to the same subject matter or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section 254. The rights of Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct distinct, and cumulative and none of them shall be in exclusion of the others. No act of Mortgagee or any of the Lenders shall be construed as an election to proceed under any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding. In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions of this Mortgage shall prevail.

Appears in 1 contract

Samples: Oneida LTD

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