Common use of Defense of Title and Litigation Clause in Contracts

Defense of Title and Litigation. If the Lien, security interest, validity, enforceability or priority of this Deed of Trust, or if title or any of the rights of Lender in or to the Secured Property, shall be endangered, or shall be attacked directly or indirectly or if any action or proceeding is instituted against Grantor or Lender with respect thereto, Grantor will promptly notify Lender and will diligently endeavor to cure any defect which may be developed or claimed, and will take all commercially reasonable, necessary and proper steps for the defense of such action or proceeding, including, without limitation, the employment of counsel, the prosecution or defense of litigation and, subject to Xxxxxx’s reasonable approval, the compromise, release or discharge of any and all adverse claims. Lender (whether or not named as a party to such actions or proceedings) is hereby authorized and empowered (but shall not be obligated) to take such additional steps as it may deem necessary or proper for the defense of any such action or proceeding or the protection of the Lien, security interest, validity, enforceability or priority of this Deed of Trust or of such title or rights, including, without limitation, the employment of counsel, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior Liens and security interests. Grantor shall, on demand, reimburse Lender for all expenses (including, without limitation, actual documented attorneys’ fees and disbursements (including, without limitation, in-house and outside counsel fees and costs but without duplication)) incurred by Xxxxxx in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the Person receiving such payment. All such costs and expenses of Lender, until reimbursed by Grantor, shall be deemed to be secured by this Deed of Trust.

Appears in 2 contracts

Samples: www.sec.gov, Financing Statement and Security Agreement (2420 Lakemont Avenue MM, LLC)

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Defense of Title and Litigation. If the Lienlien or security interest created by this Instrument, security interest, or the validity, enforceability enforceability, or priority thereof or of this Deed of TrustInstrument, or if title or any of the rights of Lender Debtor or Secured Party in or to the Secured PropertyCollateral, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly indirectly, or if any action or proceeding is instituted against Grantor Debtor or Lender Secured Party with respect thereto, Grantor Debtor will promptly notify Lender Secured Party thereof and will diligently endeavor to cure any defect which may be developed or claimed, and will take all commercially reasonable, necessary and proper steps for the defense of such action or proceeding, including, without limitation, including the employment of counsel, the prosecution or defense of litigation litigation, and, subject to Xxxxxx’s reasonable Secured Party's approval, the compromise, release release, or discharge of any and all adverse claims. Lender Secured Party (whether or not named as a party to such actions or proceedings) is hereby authorized and empowered (but shall not be obligated) to take such additional steps as it may deem necessary or proper for the defense of any such action or proceeding or the protection of the Lienlien, security interest, validity, enforceability enforceability, or priority of this Deed of Trust Instrument, or of such title or rights, including, without limitation, including the employment of counsel, the prosecution or defense of litigation, the compromise, release release, or discharge of such adverse claims, the purchase of any tax title title, and the removal of such prior Liens liens and security interests. Grantor Debtor shall, on demand, reimburse Lender Secured Party for all expenses (including, without limitation, actual documented including attorneys' fees and disbursements (including, without limitation, in-house and outside counsel fees and costs but without duplication)disbursements) incurred by Xxxxxx it in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the Person receiving such payment. All such costs and expenses of LenderSecured Party, until reimbursed by GrantorDebtor, shall be part of the Obligations and shall be and shall be deemed to be secured by this Deed of TrustInstrument.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Usf&g Legg Mason Realty Partners Limited Partnership)

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Defense of Title and Litigation. If Subject to the LienPermitted Liens, if the lien or security interestinterest created by this Security Instrument, or the validity, enforceability enforceability, or priority thereof or of this Deed of TrustSecurity Instrument, or if title or any of the rights of Borrower or Lender in or to the Secured PropertyCollateral, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly indirectly, or if any action or proceeding is instituted against Grantor Borrower or Lender with respect thereto, Grantor Borrower will promptly notify Lender thereof and will diligently endeavor to cure any defect which may be developed or claimed, and will take all commercially reasonable, necessary and proper steps for the defense of such action or proceeding, including, without limitation, including the employment of counsel, the prosecution or defense of litigation litigation, and, subject to XxxxxxLender’s reasonable approval, the compromise, release release, or discharge of any and all adverse claims. Lender (whether or not named as a party to such actions or proceedings) is hereby authorized and empowered (but shall not be obligated) to take such additional steps as it may deem necessary or proper for the defense of any such action or proceeding or the protection of the Lienlien, security interest, validity, enforceability enforceability, or priority of this Deed of Trust Security Instrument, or of such title or rights, including, without limitation, including the employment of counsel, the prosecution or defense of litigation, the compromise, release release, or discharge of such adverse claims, the purchase of any tax title title, and the removal of such prior Liens liens and security interests. Grantor Borrower shall, on demand, reimburse Lender for all expenses (including, without limitation, actual documented including reasonable attorneys’ fees and disbursements (including, without limitation, in-house and outside counsel fees and costs but without duplication)disbursements) incurred by Xxxxxx it in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the Person receiving such payment. All such costs and expenses of Lender, until reimbursed by GrantorBorrower, shall be part of the Obligations and shall be deemed to be secured by this Deed of TrustSecurity Instrument.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Techprecision Corp)

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