Common use of Extension of Payments Clause in Contracts

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured hereby, but otherwise subject to the provisions of the Credit Agreement, extend the time, or agree to alter or amend the terms of payment of such Liabilities. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities or the remainder of the security.

Appears in 4 contracts

Samples: Credit Agreement (Aavid Thermal Technologies Inc), Mortgage, Security Agreement (Gfsi Inc), Mortgage, Security Agreement (Sybron Dental Specialties Inc)

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Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such Liabilities. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities or the remainder of the security.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Cerion Technologies Inc)

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities Obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities Obligations secured hereby, but otherwise subject to the provisions of the Credit Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Lady Luck Gaming Corp

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment xxx xxxxxnt of the Liabilities secured hereby Secured Obligations or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured herebySecured Obligations, but otherwise subject to the provisions of the Credit AgreementLoan Documents, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesSecured Obligations. Mortgagor further agrees that any part of the security herein described may be describxx xxx xx released with or without consideration without affecting the remainder of the Liabilities Secured Obligations or the remainder of the security.

Appears in 1 contract

Samples: U S Plastic Lumber Corp

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities Obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities Obligations secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Indenture (Meritage Hospitality Group Inc /Mi/)

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Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities obligations secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor Xxxxxxxxx further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Security Agreement

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities obligations secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee of its rights and privileges hereunder), Mortgagee may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities obligations secured hereby, but otherwise subject to the provisions of the Credit Loan Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations or the remainder of the security.

Appears in 1 contract

Samples: Security Agreement

Extension of Payments. Mortgagor agrees that, without affecting the liability of any person for payment of the Liabilities secured Obligations Secured hereby or affecting the lien of this Mortgage upon the Mortgaged Property or any part thereof (other than persons or property explicitly released as a result of the exercise by Mortgagee the Collateral Agent of its rights and privileges hereunder), Mortgagee the Collateral Agent may at any time and from time to time, on request of the Mortgagor, without notice to any person liable for payment of any Liabilities secured herebyObligations Secured, but otherwise subject to the provisions of the Credit Guaranty Agreement, extend the time, or agree to alter or amend the terms of payment of such LiabilitiesObligations Secured. Mortgagor further agrees that any part of the security herein described may be released with or without consideration without affecting the remainder of the Liabilities Obligations Secured or the remainder of the security.

Appears in 1 contract

Samples: Ironton Iron Inc

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