Title to Premises; First Priority Lien. Fee title to each of the Premises is vested in Debtor, free and clear of all liens, encumbrances, charges and security interests of any nature whatsoever, except the Permitted Exceptions. Upon Closing, FFCA shall have a first priority lien upon and security interest in each of the Premises pursuant to the Mortgages and the UCC-1
Appears in 4 contracts
Samples: Revolving Loan Agreement (Uni Marts Inc), Loan Agreement (Uni Marts Inc), Property Loan Agreement (Uni Marts Inc)
Title to Premises; First Priority Lien. Fee title Title to each of the Premises is vested in Debtor, free and clear of all liens, encumbrances, charges and security interests of any nature whatsoever, except the Permitted Exceptions. Upon each Closing, FFCA shall have a first priority lien upon and security interest in each of on the Premises which is the subject of such Closing pursuant to the Mortgages corresponding Mortgage and the UCC-1
Appears in 1 contract
Samples: Loan Agreement (Family Steak Houses of Florida Inc)
Title to Premises; First Priority Lien. Fee title Title to each of the Premises is vested in Debtor, free and clear of all liens, encumbrances, charges and security interests of any nature whatsoever, except the Permitted Exceptions. Upon Closing, FFCA shall have a first priority lien upon and security interest in each of on the Premises pursuant to the Mortgages and the UCC-1
Appears in 1 contract
Samples: Loan Agreement (Family Steak Houses of Florida Inc)
