Leasehold Rights definition
Examples of Leasehold Rights in a sentence
If Lead Lenders becomes aware of any damage to or actual or potential condemnation affecting any material portion of the Real Property, Leasehold Rights and/or Collateral securing the Loans, Lead Lenders will promptly notify Lenders thereof.
If Lead Lenders become aware of any damage to or actual or potential condemnation affecting any material portion of the Real Property, Leasehold Rights and/or Collateral securing the Loans, Lead Lenders will promptly notify Lenders thereof.
Lead Lenders shall not, without written consent of Lenders, (1) release, or agree to the substitution of other security for any portion of the Real Property, Leasehold Rights and/or Collateral securing the Loans, (2) grant any release in favor of the Borrowers under the Loan Documents, or waive the Lenders' rights to enforce the obligations of the Borrowers, (3) consent to or accept the cancellation or termination of any of the Loan Documents, except upon payment in full of each Loan.
Mortgagor and Mortgagee further agree and acknowledge that pursuant to Section 1.1 above, the mortgage lien created by this Mortgage does not cover or extend to any ▇▇▇▇▇ or Wellbore Leasehold Rights.
Upon Mortgagor’s request and at Mortgagor’s expense, Mortgagee shall promptly execute and deliver a partial release, which will evidence the release in full of the mortgage lien created by this Mortgage with respect to any Development Well and corresponding Wellbore Leasehold Rights.