Common use of Term; Survival Clause in Contracts

Term; Survival. The term of this Mortgage and Mortgagor’s obligations hereunder shall continue until the Indebtedness has been fully paid to Mortgagee’s satisfaction. Mortgagor’s obligation to pay the costs and expenses hereunder shall survive the term of this Mortgage and the entry of any judgment of foreclosure. Mortgagor’s representations, warranties, covenants and agreements shall survive during the term of this Mortgage and shall be presumed to have been relied upon by Mortgagee. If after receipt of any payment of all or any part of the Indebtedness, Mortgagee is for any reason compelled to surrender such payment to any person or entity because such payment is determined to be void or voidable as a preference, impermissible set-off, or a diversion of trust funds, or for any other reason, this Mortgage shall continue in full force notwithstanding any contrary action which may have been taken by Mortgagee in reliance upon such payment, and any such contrary action so taken shall be without prejudice to Mortgagee’s rights under this Mortgage and shall be deemed to have been conditioned upon such payment having become final and irrevocable.

Appears in 3 contracts

Samples: Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust)

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Term; Survival. The term of this Mortgage and Mortgagor’s 's obligations hereunder shall continue until the Indebtedness has been xxx xxxx fully paid to Mortgagee’s 's satisfaction. Mortgagor’s 's obligation to pay the costs and expenses hereunder shall survive shxxx xxxxive the term of this Mortgage and the entry of any judgment of foreclosure. Mortgage, Mortgagor’s 's representations, warranties, covenants and agreements shall survive during the term of this Mortgage and shall be presumed to have been relied upon by Mortgagee. If after receipt of any payment of all or any part of the Indebtedness, Mortgagee is for any reason compelled to surrender such payment to any person or entity because such payment is determined to be void or voidable as a preference, impermissible set-off, or a diversion of trust funds, or for any other reason, this Mortgage shall continue in full force notwithstanding any contrary action which may have been taken by Mortgagee in reliance upon such payment, and any such contrary action so taken shall be without prejudice to Mortgagee’s 's rights under this Mortgage and shall be deemed to have been conditioned upon such payment having become final and irrevocable.

Appears in 1 contract

Samples: Credit Line Mortgage (Honigfeld Bradford)

Term; Survival. The term of this Mortgage and Mortgagor’s obligations hereunder shall continue until the Indebtedness has been fully paid to the Mortgagee’s 's satisfaction. Each Mortgagor’s 's obligation to pay the costs and expenses hereunder shall survive the term of this Mortgage and the entry Mortgage. Each of any judgment of foreclosure. each Mortgagor’s 's representations, warranties, covenants and agreements shall survive during the term of this Mortgage and shall be presumed to have been relied upon by the Mortgagee. If after receipt of any payment of all or any part of the Indebtednessindebtedness, Mortgagee is for any reason compelled to surrender such payment to any person or entity because such payment is determined to be void or voidable as a preference, impermissible set-off, or a diversion of trust funds, or for any other reason, this Mortgage shall continue in full force notwithstanding any contrary action which may have been taken by Mortgagee in reliance upon such payment, and any such contrary action so taken shall be without prejudice to Mortgagee’s 's rights under this Mortgage and shall be deemed to have been conditioned upon such payment having become final and irrevocable.

Appears in 1 contract

Samples: Consolidated Mortgage (Alterra Healthcare Corp)

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Term; Survival. The term of this Mortgage and Mortgagor’s obligations hereunder shall continue until the Indebtedness has been fully paid to the Mortgagee’s 's satisfaction. Each Mortgagor’s 's obligation to pay the costs and expenses hereunder shall survive the term of this Mortgage and the entry Mortgage. Each of any judgment of foreclosure. each Mortgagor’s 's representations, warranties, covenants and agreements shall survive during the term of this Mortgage and shall be presumed to have been relied upon by the Mortgagee. If after receipt of any payment of all or any part of the Indebtednessindebtedness, Mortgagee is for any reason compelled to surrender such payment to any person or entity because such payment is determined to be void or voidable as a preference, impermissible set-offsetoff, or a diversion of trust funds, or for any other reason, this Mortgage shall continue in full force notwithstanding any contrary action which may have been taken by Mortgagee in reliance upon such payment, and any such contrary action so taken shall be without prejudice to Mortgagee’s 's rights under this Mortgage and shall be deemed to have been conditioned upon such payment having become final and irrevocable.

Appears in 1 contract

Samples: Mortgage (CVC Inc)

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