IN TRUST to secure the payment to Beneficiary of the principal of and interest on the Note at the maturity thereof and all other sums due hereunder or under the Note and the performance of all covenants and agreements herein and in the Note, whereupon this Deed shall cease and be void and the Mortgaged Property shall be released at the cost of Grantor.
IN TRUST for the equal and ratable benefit and security of the Bondowners without preference, priority or distinction as to lien or otherwise of any particular Bond over any other Bond, except as otherwise expressly provided herein and subject to the rights of the Bondholders and Credit Facility Provider; PROVIDED, HOWEVER, that the Issuer reserves the right to enforce the Unassigned Rights in its own name and for its own account; and PROVIDED, FURTHER, HOWEVER, that if the Issuer shall pay, cause to be paid or provide for the payment of the principal of, premium, if any, and interest on the Bonds in accordance with Article IX of this Indenture, and shall make all required “rebate” payments to the United States Treasury in accordance with Section 803 of this Indenture, and if the Issuer shall promptly, faithfully and strictly keep, perform and observe all of its representations, covenants and agreements contained in this Indenture, then in such event this Indenture and the rights hereby granted (excepting Bondowners’ rights theretofore vested) shall cease, terminate and be void, otherwise to remain in full force and effect upon the trusts and subject to the conditions hereinafter set forth. All Bonds issued and secured hereunder are to be issued, authenticated and delivered, and all Trust Funds, revenues and income hereby pledged are to be dealt with and disposed of under and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes as hereinafter expressed, and the Issuer has agreed and covenanted, and does hereby agree and covenant, with the Trustee and with the respective Owners from time to time of the Bonds, as follows, THAT IS TO SAY:
IN TRUST. As of the Effective Date, Shenin, on behalf of the Sellers, shall hold the Purchased Interest and all proceeds in respect thereof in trust for the sole use and benefit of Buyer and shall cooperate at any time to cause such interest to be transferred, subject to Assumed Obligations, to Buyer and at no cost to Buyer other than the cost of the actual fee paid or payable to the Government Authority for the transfer to Buyer of the Purchased Interest.
IN TRUST. Buyer shall hold the Shenin Interest and all proceeds in respect thereof in trust for the sole use and benefit of Shenin and shall cooperate at any time to cause such interest to be transferred free and clear of any Encumbrance to Shenin without withholding, reservation, deduction or setoff whatever, and at no cost to Shenin other than the cost of the actual fee paid or payable to the Government Authority for the transfer to Shenin of the Shenin Interest.
IN TRUST. NEVERTHELESS upon the terms and trusts set forth in the Assignment Agreement, as modified by this Modification Agreement, to secure the Obligations for the equal and proportionate benefit and security of the owners from time to time of the Notes, without preference, priority or distinction of any one Note over any other Note by reason of priority in the issue, sale and negotiation thereof or for any other reason, except as explicitly provided otherwise in the Assignment Agreement, as modified by this Modification Agreement.
IN TRUST and for the uses and purposes hereinafter set forth forev er, and Mortgagor does hereby bind itself and its successors and assigns to WARRANT AND FOREVER DEFEND the Mortgaged Property unto the Trustee and unto his respective successors and assigns against any and every person lawfully claiming the same or any part thereof. The Mortgagor hereby covenants with the Mortgagee and with the purchaser at any foreclosure sale that at the execution and delivery hereof, Mortgagor owns the Property and has good, indefeasible estate therein, in fee simple; that the Property is free from all encumbrances and exceptions to title (and any claim of any other person) other than the Permitted Liens as defined in Section 1.1 of the Credit Agreement, (said encumbrances and Permitted Liens are hereinafter collectively referred to as "Permitted Exceptions"); that it has good and marketable title in and to the Property and good and lawful right to sell, mortgage and convey the Property; and that Mortgagor and its successors and assigns shall forever warrant and defend the Property against all claims and demands whatsoever. If and when Mortgagor has paid all of the Obligations, to the extent secured hereby, as provided in Section 5.18 hereof, and there exist no commitments of the Lender under the Loan Documents which could give rise to Obligations, then this Mortgage and the estate, right and interest of Mortgagee in and to the Property shall cease and shall be released by Mortgagee delivering to Mortgagor a satisfaction of this Mortgage in proper recordable form at the cost of Mortgagor, but until such time shall remain in full force and effect.