Indebtedness Secured Hereby definition

Indebtedness Secured Hereby means (i) payment of the indebtedness evidenced by performance of the terms and conditions of, and payment of all other sums with interest thereon becoming due and payable to the Secured Party and contained in the Note and the Loan Agreement; (ii) payment of the rent owing under, performance of the terms and conditions of, and payment of all other sums with interest thereon becoming due and payable to the Secured Party and contained in the Sublease; and (iii) performance and discharge of each and every obligation, covenant and agreement, whether involving the payment of money or not, contained in any of the other Loan Documents or the other Transaction Documents.

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Indebtedness Secured Hereby means the “Indebtedness Secured Hereby” as defined in the Mortgage and any other Debt, liability or other obligations of Borrower under the Loan Documents.

Indebtedness Secured Hereby means (a) the payment of that certain Amended and Restated Secured Installment Note having a maturity date of July 1, 2029 (the “Tradeport Note”) dated June 6, 2014, executed by Mortgagor, as Maker, to the order of Mortgagee, as Holder, in the original principal amount of Six Million Sixt Hundred Thirty Two Thousand Four Hundred Forty-Four and 00/100 Dollars ($6,632,444.00), with interest thereon and all other sums payable thereunder according to the terms and conditions thereof, together with any replacements, substitutions, modifications, amendments, extensions or renewals thereof (the “Tradeport Indebtedness”); (b) the payment of that certain Amended and Restated Secured Installment Note having a maturity date of July 1, 2029 (the “▇▇▇▇▇▇▇ Center Note”) dated June 6, 2014, executed by ▇▇▇▇▇▇▇ Center Development I, LLC, as Maker, to the order of Mortgagee, as Holder, in the original principal amount of Seven Million Eight Hundred Sixty-Seven Thousand Five Hundred Fifty Six and 00/100 Dollars ($7,867,556.00), with interest thereon and all other sums payable thereunder according to the terms and conditions thereof, together with any replacements, substitutions, modifications, amendments, extensions or renewals thereof, which ▇▇▇▇▇▇▇ Center Note has been guaranteed by the Mortgagor in accordance with the ▇▇▇▇▇▇▇ Center Guaranty (the “▇▇▇▇▇▇▇ Center Guaranty”) dated of even date herewith; (c) payment to Mortgagee, its successors and assigns, at the times demanded and with interest at the applicable Default Rate (as defined in the Note), to accrue from the date of advance, of all sums advanced, if any, in protecting the interests of Mortgagee under this Mortgage and any and all other Loan Documents and payment of insurance premiums covering Improvements, and payment of principal and interest on prior liens, and payment of expenses and attorneys’ fees and professionals’ fees herein provided for and payment of any fees herein provided of any and all sums advanced under this Mortgage from time to time.”

Examples of Indebtedness Secured Hereby in a sentence

• All such sums, together with interest as aforesaid shall become so much additional Indebtedness Secured Hereby, but no such advance shall be deemed to relieve the Mortgagor from any default hereunder.

• The rights hereunder shall in no way be dependent upon and shall apply without regard to whether the Premises are in danger of being lost, materially injured or damaged or whether the Premises are adequate to discharge the Indebtedness Secured Hereby.

• All such sums, together with interest as aforesaid shall become so much additional Indebtedness Secured Hereby, but no such advance shall be deemed to relieve the Mortgagor from any failure hereunder.

• In any such proceeding the Mortgagee may apply all or any portion of the Indebtedness Secured Hereby to the amount of the purchase price.

• In the event Mortgagee shall have proceeded to invoke any right, remedy or recourse permitted under this Mortgage and shall thereafter elect to discontinue or abandon the same for any reason, Mortgagee shall have the unqualified right to do so and in such event Mortgagor and Mortgagee shall be restored to their former positions with respect to the Indebtedness Secured Hereby.

• The proceeds or any part thereof shall be applied upon or in reduction of the Indebtedness Secured Hereby then most remotely to be paid, whether due or not, without the application of any prepayment premium, or to the restoration or repair of the Premises, the choice of application to be solely at the discretion of Mortgagee.

• Upon payment and performance in full of the Indebtedness Secured Hereby, this Assignment shall be released and shall thereafter become null and void and be of no further effect.

• When all Indebtedness Secured Hereby has been paid, this Mortgage and all assignments herein contained shall be void and this Mortgage shall be released by the Mortgagee at the cost and expense of the Mortgagor, otherwise to remain in full force and effect.

• The amount of all such indemnified loss, damage, expense or cost, shall bear interest thereon at the rate of interest in effect on the Note and shall become so much additional Indebtedness Secured Hereby and shall become immediately due and payable in full on demand of the Mortgagee, its successors and assigns.

• Mortgagee shall not be deemed to be a partner or joint venturer on account of its becoming a mortgagee in possession or exercising any rights pursuant to this Mortgage or pursuant to any other instrument or document evidencing or securing any of the Indebtedness Secured Hereby, or otherwise.

More Definitions of Indebtedness Secured Hereby

Indebtedness Secured Hereby means: (a) payment of that certain Promissory Note (the "Note") of even date herewith, executed by Borrower, as Maker to the order of Mortgagee, as Holder, in the original principal amount of TEN MILLION DOLLARS ($10,000,000.00) with interest thereon and all other sums payable thereunder according to the terms and conditions thereof, together with any replacements, substitutions, modifications, amendments, extensions or renewals thereof (the "Indebtedness"); and (b) payment to Mortgagee, its successors and assigns, at the times demanded and with interest at the Default Rate (as defined in the Note) in an Event of Default, to accrue from the date of advance, of all sums advanced, if any, in protecting the interests of Mortgagee under this Mortgage and any and all other Loan Documents and payment of insurance premiums covering Improvements, and payment of principal and interest on prior liens, and payment of expenses and attorneys' fees and professionals' fees herein provided for and payment of any fees herein provided for and payment of any Mortgagee's fees herein provided for, and any and all sums advanced under this Mortgage from time to time.

Indebtedness Secured Hereby means: (a) amounts due under that certain Secured Installment Note (the “Note”) of even date herewith, executed by Grantor, as Maker, to the order of Grantee, as Holder, in the original principal amount of EIGHT MILLION AND NO/100 DOLLARS ($8,000,000.00), with interest thereon and all other sums payable thereunder according to the terms and conditions thereof, together with any replacements, substitutions, modifications, amendments, extensions or renewals thereof (the “Indebtedness”) which matures the first day of December, 2014; and (b) amounts payable to Grantee, its successors and assigns, at the times demanded and with interest at the Default Rate (as defined in the Note), to accrue from the date of advance, of all sums advanced, if any, in protecting the interests of Grantee under this Security Deed and any and all other Loan Documents and payment of insurance premiums covering Improvements, and payment of principal and interest on prior liens, and payment of reasonable expenses and attorneys’ fees and professionals’ fees herein provided for and payment of any fees herein provided for and payment of any Grantee’s fees herein provided for, and any and all sums advanced under this Security Deed from time to time.