Crossed Indebtedness definition

Crossed Indebtedness means the Crossed Loans and all other “Indebtedness” as defined in each Crossed Loan Agreement.
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Examples of Crossed Indebtedness in a sentence

  • The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness and all Crossed Indebtedness in full.

  • The Note and Borrower’s obligations hereunder and under all other Loan Documents shall, together with the Crossed Indebtedness, be secured by (a) Liens upon the Mortgaged Property pursuant to the Mortgages, (b) the Contract Assignment, (c) the Manager’s Subordination, (d) the Assignment of Rents and Leases, and all other security interests and Liens granted in this Agreement and in the other Loan Documents and under the Crossed Loan Documents.

  • Section 5.1 (x) be made available for Restoration, Loss Proceeds may, at Lender’s option exercised in Lender’s sole discretion, be applied to the Indebtedness and, upon payment in full of the Indebtedness, to any Crossed Indebtedness or, if an Event of Default exists, in any manner determined by Lender in Lender’s sole discretion in accordance with Section 2.8 hereof.

  • So long as any portion of the Indebtedness or Crossed Indebtedness is outstanding, Borrower shall not open any account other than the Local Collection Account for the deposit of Rents or Money received from Accounts or under Leases and derived from the Mortgaged Property and all Proceeds to pay amounts owing hereunder, other than any account for amounts required by law to be segregated by Borrower.

  • The Note and Borrower’s obligations hereunder and under all other Loan Documents shall, together with the Crossed Indebtedness, be secured by (a) Liens upon the Mortgaged Property pursuant to the Mortgage, (b) the Contract Assignment, (c) the Manager’s Subordination, (d) the Assignment of Rents and Leases, and (e) all other security interests and Liens granted in this Agreement and in the other Loan Documents and under the Crossed Loan Documents.

  • The foregoing powers of attorney are irrevocable and coupled with an interest and shall terminate upon repayment of the Indebtedness and (subject to Section 2.11(g)) Crossed Indebtedness in full.