Examples of Deed Trustee in a sentence
This Note is secured by the Fourth Amended and Restated Deed of Trust and Security Agreement dated April , 2015 (the “Deed of Trust”) between the Corporation and the Deed Trustee named therein for the benefit of the Trustee under the Indenture and its assigns, the terms and provisions of each and all of the same being incorporated by reference.
The Corporation may add to, alter or raze and remove the same at any time subject to any conditions imposed by the Sublease, the Deed of Trust or by the Deed Trustee in its exercise of any duty, right or power thereunder.
Pursuant to the Deed of Trust, the Corporation has conveyed to the Deed Trustee a valid lien on the Real Property and the Personal Property.
Without limiting the foregoing, each of the City and the Corporation hereby irrevocably appoints the Deed Trustee and each of its officers attorneys-in-fact for the City and the Corporation, respectively, to execute, deliver and file such instruments for and on behalf of the City and the Corporation, respectively.
If any Personal Property is or shall be subject to a conditional xxxx of sale, chattel mortgage or security interest other than that created hereby, then, in the event of any default hereunder, all the right, title and interest of the City or the Corporation in and to any such instrument and all deposits made thereunder are hereby assigned to the Deed Trustee, together with the benefit of any payments now or hereafter made thereon.
All alterations and additions approved by the Deed Trustee shall become part of the Pledged Property subject to the lien of this Deed of Trust.
The City and the Corporation will permit the Deed Trustee and the Deed Trustee’s representatives to enter the Pledged Property at reasonable times to inspect the same.
In case of any breach or default by the Deed Trustee in its maintenance and repair obligations with respect to the Pledged Property under the 2010 Lease Agreement, the Deed Trustee may, at its option, enter the Pledged Property to protect, restore or repair any part thereof, but the Deed Trustee shall be under no obligation to do so.
The City covenants and agrees to pay to the Deed Trustee, but only from the payments received from the Corporation pursuant to the 2010 Lease Agreement, the principal, redemption price and interest owing on the Notes.
If the Corporation shall fail to procure, pay for and deliver to the Deed Trustee any policy or policies of insurance and/or renewals thereof as required in this Article III, the Deed Trustee may at its option, but shall be under no obligation to do so, effect such insurance and pay the premiums therefor, and the Corporation will repay to the Deed Trustee on demand any premiums so paid, with interest thereon at a rate equal to the interest rate on the Notes plus five percent (the “Default Rate”).