Common use of Last Dollars Secured Clause in Contracts

Last Dollars Secured. This Mortgage secures only a portion of the Secured Obligations owing or which may become owing by the Mortgagor Notwithstanding anything to the contrary contained in the Financing Documents, the parties agree that any payments or repayments of such Secured Obligations by the Mortgagor shall be deemed to apply first to the portion of the Secured Obligations that is not secured hereby, it being the parties' intent that the portion of the Secured Obligations last remaining unpaid shall be deemed secured hereby.

Last Dollars Secured. This Mortgage secures only a portion of the Secured Obligations owing or which may become owing by the Mortgagor Notwithstanding anything to the contrary contained in the Financing Loan Documents, the parties agree that any payments or repayments of such Secured Obligations by the Mortgagor shall be deemed to apply first to the portion of the Secured Obligations that is not secured hereby, it being the parties' intent that the portion of the Secured Obligations last remaining unpaid shall be deemed secured hereby.

Last Dollars Secured. This Mortgage secures only a portion of the Secured Obligations owing or which may become owing by the Mortgagor Mortgagor. Notwithstanding anything to the contrary contained in the Financing Documents, the parties agree that any payments or repayments of such Secured Obligations by the Mortgagor shall be deemed to apply first to the portion of the Secured Obligations that is not secured hereby, it being the parties' intent that the portion of the Secured Obligations last remaining unpaid shall be deemed secured hereby.