Common use of Cross-Default; Cross-Collateralization; Waiver of Marshalling of Assets Clause in Contracts

Cross-Default; Cross-Collateralization; Waiver of Marshalling of Assets. (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Borrower agrees that the Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages shall constitute an Event of Default under each of the other Mortgages which secure the Note; (ii) an Event of Default under the Note or this Loan Agreement shall constitute an Event of Default under each Mortgage; (iii) each Mortgage shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance.

Cross-Default; Cross-Collateralization; Waiver of Marshalling of Assets. (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties Collateral and in reliance upon the aggregate of the Properties Collateral taken together being of greater value as collateral security than the sum of each Individual Property of the individual interests in the Pledged Entities taken separately. Borrower agrees that the Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages Pledge Agreement shall constitute an Event of Default under the Note and each of the other Mortgages which secure the NoteLoan Documents; and (ii) an Event of Default under the Note or this Loan Agreement shall constitute an Event of Default under each Mortgage; the Pledge Agreement. (iiib) each Mortgage shall constitute security To the fullest extent permitted by law, Borrower, for the Note as if itself and its successors and assigns, waives all rights to a single blanket lien were placed on all marshalling of the Properties as security for assets of Borrower, Borrower’s partners and others with interests in Borrower, and of the Note; and (iv) such cross-collateralization shall Collateral, or to a sale in no event be deemed to constitute a fraudulent conveyance.inverse order of alienation in

Cross-Default; Cross-Collateralization; Waiver of Marshalling of Assets. (a) Borrower acknowledges that Lender has made the Loan to Borrower upon the security of its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Borrower agrees that the Mortgages are and will be cross-cross collateralized and cross-cross defaulted with each other so that (i) an Event of Default under any of the Mortgages shall constitute an Event of Default under each of the other Mortgages which secure the Note; (ii) an Event of Default under the Note or this Loan Agreement shall constitute an Event of Default under each Mortgage; (iii) each Mortgage shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance.were