Cross-Collateralization Agreement definition
Examples of Cross-Collateralization Agreement in a sentence
The Loan is cross-collateralized with certain other loans, subject to the terms of the Master Cross-Collateralization Agreement.
Any Event of Default under this Instrument shall constitute an Event of Default under the Master Cross-Collateralization Agreement and any Event of Default under the Master Cross-Collateralization Agreement shall constitute an Event of Default under this Instrument.
The occurrence of an “Event of Default” under the Cross-Collateralization Agreement will constitute an Event of Default under this Instrument.
The Indebtedness and all other obligations of Borrower under the Loan Documents (“Borrower Obligations”) are also secured pursuant to the terms of that certain Master Cross-Collateralization Agreement (“Master Cross-Collateralization Agreement”) dated of even date herewith and executed by ▇▇▇▇▇▇ and Borrower and the other borrowers named therein (“Other Borrowers”).
The obligations of Guarantor will not be impaired or in any way limited by (i) any action taken by Lender to enforce its rights under or realize upon collateral for any of the Related Loans, (ii) the fact that Lender may be seeking to realize upon some but not all of the collateral for the Loan and the Related Loans, or (iii) the exercise or deferral, concurrently, consecutively or otherwise, of any of the rights or remedies available to Lender under the Cross-Collateralization Agreement or applicable law.