The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of this Agreement, then with respect to such Collateral, the terms of such Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and the terms of this Agreement shall be controlling in the case of all other Collateral.
The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of this Agreement, then with respect to such Collateral, the terms of such Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and the terms of this Agreement shall be controlling in the case of all other Collateral. For the avoidance of doubt, in the event that any lien or security interest other than a Permitted Encumbrance or a Permitted Lien (as defined in the Mortgage) is asserted against any Mortgaged Property, then Grantor, as mortgagee, shall promptly give the holder of the applicable Mortgage a detailed written notice of such lien or security interest (including origin, amount and other terms) and otherwise comply with Section 3.2 of such Mortgage.
The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage or Ship Mortgage and the terms of such Mortgage or Ship Mortgage are inconsistent with the terms of this Agreement, then with respect to such Collateral, the terms of (i) such Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and (ii) such Ship Mortgage shall be controlling, and the terms of this Agreement shall be controlling in the case of all other Collateral.
The Mortgages. In the event that any of the Shared Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage or the Second Preferred Fleet Mortgage and the terms of such Mortgage or Second Preferred Fleet Mortgage are inconsistent with the terms of this Second Lien Shared Security Agreement, then with respect to such Shared Collateral, the terms of such Mortgage or such Second Preferred Fleet Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and the terms of this Second Lien Shared Security Agreement shall be controlling in the case of all other Shared Collateral.
The Mortgages. In the event that any of the Collateral hereunder is also subject to a valid and enforceable Lien under the terms of any Mortgage and the terms of such Mortgage are inconsistent with the terms of this Agreement, then with respect to such Collateral, the terms of such Mortgage shall be controlling in the case of fixtures and real estate leases, letting and licenses of, and contracts and agreements relating to the lease of, real property, and the terms of this Agreement shall be controlling in the case of all other Collateral. Del Monte Security Agreement
The Mortgages. AND DEED OF COVENANTS a first preferred and/or priority mortgage together, where applicable, with collateral deed of covenants over each Vessel;
The Mortgages. The Guaranties of the respective Subsidiaries named in the following table are and will continue to be secured by mortgage liens and security interests created, in the case of each such Subsidiary, by a mortgage, leasehold mortgage, deed of trust or trust deed executed and delivered pursuant to the requirements of the Original Agreement. Each of the respective Subsidiaries shall execute an Amendment to their mortgage, leasehold mortgage, deed of trust, or trust deed to add the Banks as parties thereto. The common address of the property or properties of the respective Subsidiaries which are subject to the mortgage, leasehold mortgage, deed of trust or trust deed executed and delivered by each of such Subsidiaries follow the name of the Subsidiaries in the table:
A. D.E. of Birmingham, Inc. Auto Dealers Exchange 804 Sxxxxx Xxxxx of Memphis, Inc. Moody, Alabama 5400 Getwell at Holmex Xxxx Memphis, Tennessee; and ADESA-Ohio, Inc. (formerly 2650 Xx. Xxxxxx Xxxx known as "Auto Dealers Exchange Memphis, Tennessee Cincinnati-Dayton, Inc.") 4400 Xxxxxxx X. Xxxx Xxxx. Franklin, Ohio ADESA Indianapolis, Inc. A.D.E. of Lexington, Inc. 4000 Xxxxxx Xxxxx Xxxx., 672 Blue Sky Parkway 4040 Xxxxxx Xxxxx Xxxx., Xxxxxxxxx, Xxxxxxxx 5050 Xxxx 00xx Xxxxxx, xxx 3905 Xxxxx Xxxx, Auto Dealers Exchange Indianapolis, Indiana of Concord 77 Hoxxxx Xxxxxx Acton, Massachusetts Greater Buffalo Auto Auction, Inc. 3095-0539 Quebec, Inc. 12220 Xxxx Xxxxxx 300 Axxxxx-Xxxxxx Xxxxxxxxx Newstead, New York Saint-Eustache, Quebec, Canada ADESA agrees that upon purchase of a new facility in Indianapolis, Indiana, ADESA or its applicable Subsidiary shall grant a mortgage lien on such property to the Agent, for the benefit of the Banks, as collateral security for all of the Obligations. The Banks agree that upon sale by ADESA Indianapolis, Inc. of its present auction location in Indianapolis, the Banks shall release the mortgage lien on such property provided that the new Mortgage in favor of the Banks on the new facility has been executed, that the net proceeds from the sale of the present property exceed $4,500,000, that such proceeds are applied to the Obligations and provided that no Event of Default or Unmatured Event of Default exists.
The Mortgages. Open-End Mortgages (the “Mortgages”) on all of Borrowers’ right, title and interest in and to the Land together with all improvements thereon, which Mortgages shall be in the form satisfactory to Bank and its counsel;
The Mortgages. If default occurs in the timely and prompt payment of all or part of such Indebtedness, as and when due from time to time and at maturity, howsoever such maturity may be brought about, any judicial proceedings against NHC brought by Lender or other holder of the Note shall be limited to the preservation, enforcement and foreclosure of the liens and security interests granted under the Mortgages now or at any time hereafter securing the payment hereof, and no attachment, execution or other writ of process shall be sought, issued or levied upon any assets, properties or funds of NHC other than the properties, rights, estates, and interests, described in the Mortgages securing the Note. In the event of foreclosure of such liens and security interests granted under the Mortgages securing the payment of the Note by private power of sale or otherwise, no judgment for any deficiency upon such indebtedness, sums and amounts shall be obtainable by Lender or other holder of the Note against NHC or its successors, assigns, or other legal representatives. NHC does hereby ratify and confirm the liens and security interests on the Mortgaged Property granted for the benefit of Lender in the Mortgages and agrees that such liens and security interests are valid and subsisting and are hereby renewed and carried forward.
III. Upon conveyance of the Mortgaged Property from NHC to NHLP, NHLP does hereby assume and agree to perform all of the obligations of "Borrower" or "Grantor" contained in the Loan Agreement, the Note, and the Mortgages, as modified, it being understood and agreed by all parties hereto that NHLP intends to and does hereby assume and become personally liable for the payment of the Note referred to above and that NHLP shall be personally liable upon the Indebtedness pursuant to the Loan Agreement and the Mortgages including, without limitation, that evidenced by the Note, all sums to accrue or to become payable thereon and all amounts covenanted to be paid by "Grantor" under the Mortgages and by "Borrower" under the Loan Agreement and Security Instruments.
IV. Upon the conveyance of the Mortgaged Property to NHLP and the satisfaction of Lender's conditions hereto, the Mortgages, as modified, shall be hereby amended to include Newmark Homes, L.P., a Texas limited partnership, in said documents as "Grantor". NHLP does hereby ratify and confirm the liens and security interests on the Mortgaged Property granted in the Mortgages for the benefit of Lender and that ...
