Common use of Junior Financing Clause in Contracts

Junior Financing. Mortgagor shall not, without the prior written consent of Mortgagee, such consent to be made in Mortgagee's sole determination, incur any additional indebtedness or create or permit to be created or to remain, any mortgage, pledge, lien, encumbrance or charge on, or conditional sale or other title retention agreement with respect to, the Mortgaged Property or any part thereof or income therefrom, other than the Security Documents, and the Permitted Encumbrances.

Appears in 2 contracts

Sources: Mortgage, Security Agreement, Assignment of Leases and Rents (Glimcher Realty Trust), Junior Mortgage, Security Agreement, Assignment of Leases and Rents (Glimcher Realty Trust)