Common use of Cross-Default; Cross-Collateralization Clause in Contracts

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each 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 Agreement shall constitute an Event of Default under each Mortgage; and (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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each 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 Agreement shall constitute an Event of Default under each Mortgage; and (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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each Borrower agrees that the Mortgages Security Instruments are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages Security Instruments shall constitute an Event of Default under each of the other Mortgages Security Instruments which secure the Note; (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each MortgageSecurity Instrument; and (iii) each Mortgage Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note.. [NO FURTHER TEXT ON THIS PAGE]

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each 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 Deeds of Trust which secure the Note; (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each Mortgage; and (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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that -------------------------------------- Lender has made the Loan to Borrowers 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 the Properties taken separately. Each 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 Agreement shall constitute an Event of Default under each Mortgage; and (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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each Borrower agrees that the Mortgages Security Instruments are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages Security Instruments shall constitute an Event of Default under each of the other Mortgages Security Instruments which secure the Note; (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each MortgageSecurity Instrument; and (iii) each Mortgage Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers Borrower upon the security of its collective interest in the Properties Property and in reliance upon the aggregate of the Properties Property taken together being of greater value as collateral security than the sum of the Properties Property taken separately. Each 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 Agreement shall constitute an Event of Default under each Mortgage; and (iii) to the extent permitted by applicable law, 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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges Borrowers acknowledge that Lender has made the Loan to Borrowers upon the security of its their collective interest in the Individual Properties and in reliance upon the aggregate of the Individual Properties taken together being of greater value as collateral security than the sum of the Individual Properties taken separately. Each Borrower agrees Borrowers agree that the Mortgages Debentures are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages Debentures shall constitute an Event of Default under each of the other Mortgages Debentures which secure the Note; (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each MortgageDebenture; and (iii) each Mortgage Debenture shall constitute security for the Note as if a single blanket lien were placed on all of the Individual Properties as security for the Note.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each Borrower agrees that the Mortgages Security Instruments are and will be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgages Security Instruments shall constitute an Event of Default under each of the other Mortgages Security Instruments which secure the Note; (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each MortgageSecurity Instrument; and (iii) each Mortgage Security Instrument shall constitute security for the Note as if a single blanket lien were placed on all of the Properties as security for the Note.

Cross-Default; Cross-Collateralization. Each Borrower Party acknowledges that Lender has made the Loan to Borrowers 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 the Properties taken separately. Each Borrower Parties 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; and (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.

Cross-Default; Cross-Collateralization. Each Borrower acknowledges that Lender Xxxxxx has made the Loan to Borrowers 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 the Properties taken separately. Each 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 Agreement shall constitute an Event of Default under each Mortgage; and (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.