Crossed Properties definition
Crossed Properties means the properties securing each Crossed Loan, as described in the respective Crossed Loan Agreement, subject to modification pursuant to Section 2.12(G) hereof.
Crossed Properties. Cross Side Agreements" and "Cross Guaranties" shall be deemed to exclude the Excluded Loan Agreement, the Excluded Mortgages, the Excluded Loan Documents, the Excluded Property, the Excluded Side Agreements and the Excluded Guaranties, respectively, (v) each reference herein and in the other Loan Documents to the "Crossed Borrowers" and the "Crossed Obligors" shall be deemed to exclude each Excluded Borrower, (vi) the provisions of Section 2.12(E) of this Loan Agreement shall not apply to any Crossed Loans Collection from any Excluded Borrower or its Excluded Property and the Borrowers shall have no obligation or liability on account thereof; and (vii) Borrowers shall no longer be beneficiaries of the covenants and agreements set forth in Section 2.12(E) of any Excluded Loan Agreement, and the Borrowers shall have no rights or claims on account of any contribution or indemnification obligations of any Excluded Borrower under Section 2.12(E) of any Excluded Loan Agreement. In addition to and without limiting the foregoing, the Borrowers hereby agree to fully cooperate with Lender, if Lender is considering the termination of the cross collateralization and cross default of the Loan and Loan Documents with any of the Crossed Loans, including, but not limited to (x) amending this Loan Agreement and the other Loan Documents as may be required by Lender to effectuate such termination of the cross collateralization and cross default provisions thereof, and (y) updating and/or endorsing the title insurance policies (at Lender's cost as to additional premium charges, if any) to reflect the continuation of the first priority lien of this Loan Agreement.
Examples of Crossed Properties in a sentence
For the purposes of this clause, the term "fair market value" shall not include (i) the amount of any indebtedness secured by a lien affecting the Remaining Crossed Properties or the Assumed Properties that is prior to, or on a parity with, the lien of the Mortgage, and (ii) the value of any property that is not "real property" within the meaning of Treas.
If a default occurs under any of the provisions of the security instruments or other Loan Documents given to Beneficiary with respect to any of the other Crossed Properties which remains uncured after the expiration of any applicable grace or notice period.