Grant of Specific Liens Sample Clauses

Grant of Specific Liens. Borrower will, at any time Underlying Real Estate is foreclosed upon by Borrower, grant to Lender a Lien upon such Underlying Real Estate, subject only to Permitted Liens and, if the foreclosed Underlying Real Estate or the note secured by the Underlying Real Estate being foreclosed upon has been conveyed to an REO Affiliate, Borrower will obtain an REO Note following the assignment to the REO Affiliate, and will ensure the REO Affiliate grants (a) to Lender, a second priority lien, securing its Guaranty obligations and (b) to Borrower a first priority lien securing the REO Note, in such Underlying Real Estate, following the foreclosure; provided, however, that with respect to any such Underlying Real
Sample 1
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Grant of Specific Liens. The Borrower will, at any time Underlying Real Estate is foreclosed upon by the Borrower, at the request of the Bank, grant to the Bank a Lien upon such Underlying Real Estate, and if the foreclosed Underlying Real Estate of the note secured by the Underlying Real Estate being foreclosed upon has been conveyed to an REO Affiliate, the Borrower will obtain an REO Note following the assignment to the REO Affiliate, and will ensure the REO Affiliate grants (a) to the Bank, if requested by the Bank, a Lien securing its Guaranty obligations, subject only to Permitted Prior Liens and the Lien in favor of the Borrower securing the REO Note, and (b) to the Borrower a Lien securing the REO Note, subject only to Permitted Prior Liens, in such Underlying Real Estate, following the foreclosure. The Borrower shall cause all such documentation required to effectuate the provisions of this Section to be recorded in all appropriate jurisdictions at the Borrower's sole cost and expense.
Sample 1
Grant of Specific Liens. The REO Affiliate will (except as to property located in New York or Florida, unless requested to by the Trustee), at any time it acquires Underlying Collateral through a foreclosure, or deed-in- lieu of foreclosure, execute an REO Note and Mortgage and grant to the Company a first priority lien in such REO Property, subject only to Permitted Liens, to secure payment of the REO Note and all other obligations of the REO Affiliate to the Company, which REO Note and lien shall immediately be assigned to the Trustee and delivered to the Collateral Custodian as additional Collateral under the Security Documents.
Sample 1

Related to Grant of Specific Liens

  • Perfection of Liens To help the Bank perfect and protect its security interests and liens, and reimburse it for related costs it incurs to protect its security interests and liens.

  • Creation of Liens Create or suffer to exist any Lien or transfer upon or against any of its property or assets now owned or hereafter acquired, except Permitted Encumbrances.

  • Grant of Sublicense Subject to the terms and conditions of this Agreement, Adviser hereby grants to the Trust a non-transferable sublicense to use the Index (and associated data and information) listed on Exhibit A in the manner set forth in, and subject to the terms of, the License Agreement.

  • GRANT OF LIEN (a) As security for all Obligations, each Grantor hereby grants to the Agent, for the benefit of the Agent and the Lenders, a continuing security interest in, lien on, assignment of and right of set-off against, all of the following property and assets of such Grantor, whether now owned or existing or hereafter acquired or arising, regardless of where located:

  • Assignment of Space a. This Contract is for an assigned space in a residence hall and not for a specific room or bed. This Contract is not a lease agreement.

  • Bailee for Perfection (i) The ABL Collateral Agent agrees to hold that part of the ABL Priority Collateral that is in its possession or control (or in the possession or control of its agents or bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon under the UCC (such ABL Priority Collateral being the “Pledged ABL Priority Collateral”) as collateral agent for the ABL Secured Parties and as bailee for and, with respect to any collateral that cannot be perfected in such manner, as agent for, the Term Collateral Agent (on behalf of the Term Secured Parties) and the Notes Collateral Agent (on behalf of the Notes Secured Parties) and any assignee thereof and act as such agent under all control agreements relating to the Pledged ABL Priority Collateral, in each case solely for the purpose of perfecting the security interest granted under the ABL Credit Documents, the Term Documents and the Notes Documents, as applicable, subject to the terms and conditions of this Section 3.4(f). Following the Discharge of ABL Obligations, the Term Collateral Agent agrees to hold the Pledged ABL Priority Collateral as collateral agent for the Term Secured Parties and as bailee for and, with respect to any collateral that cannot be perfected in such manner, as agent for, the Notes Collateral Agent (on behalf of the Notes Secured Parties) and any assignee thereof solely for the purpose of perfecting the security interest granted under the Term Documents and the Notes Documents, as applicable, subject to the terms and conditions of this Section 3.4(f). As security for the payment and performance in full of all the Notes Obligations and Term Obligations each Grantor hereby grants to the ABL Collateral Agent for the benefit of the Notes Secured Parties and the Term Secured Parties a lien on and security interest in all of the right, title and interest of such Grantor, in and to and under the Pledged ABL Priority Collateral wherever located and whether now existing or hereafter arising or acquired from time to time. As security for the payment and performance in full of all the Notes Obligations, each Grantor hereby grants to the Term Collateral Agent for the benefit of the Notes Secured Parties a lien on and security interest in all of the right, title and interest of such Grantor, in and to and under the Pledged ABL Priority Collateral wherever located and whether now existing or hereafter arising or acquired from time to time.

  • GRANT OF LICENSE AND LIMITATIONS License to Use the Licensed Software. In accordance with the terms and conditions hereof, the Licensor agrees to grant to Bianfeng Networking a license to install and operate the Licensed Software on the Designated Computers and to grant to its customers the right to use such software system.

  • Title to Properties; Absence of Liens and Encumbrances (a) The Company owns no real property, nor has it ever owned any real property. Schedule 2.10(a) sets forth a list of all real property currently leased by the Company, the name of the lessor and the date of the lease and each amendment thereto. All such current leases are in full force and effect, are valid and effective in accordance with their respective terms, and there is not, under any of such leases, any existing default or event of default (or event which with notice or lapse of time, or both, would constitute a default) by the Company or, to the knowledge of the Company, any other party.

  • Creation, Perfection and Priority of Liens The execution and delivery of the Collateral Documents by Loan Parties and Sponsors, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1, 4.2, 6.8 and 6.9 and (ii) the delivery to Administrative Agent of any Pledged Collateral not delivered to Administrative Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledged Collateral has been so delivered) are effective to create in favor of Administrative Agent for the benefit of Lenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements or Mortgages delivered to Administrative Agent for filing or recording, as applicable (but not yet filed or recorded) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Administrative Agent.

  • Grant of License During the term of this Contract:

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