Common use of Loss of Priority Clause in Contracts

Loss of Priority. The failure at any time of the Deed of Trust to be a valid first lien upon the Property or any portion thereof, other than as a result of any release or reconveyance of the Deed of Trust with respect to all or any portion of the Property pursuant to the terms and conditions of this Agreement; or

Appears in 3 contracts

Samples: Loan Agreement (Phillips Edison - ARC Shopping Center REIT Inc.), Loan Agreement (Regan Holding Corp), Loan Agreement (Communications & Power Industries Inc)

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Loss of Priority. The failure at any time of the Deed of Trust to be a ----------------- valid first lien upon the Property and Improvements or any portion thereof, other than as a result of any release or reconveyance partial release of the Deed of Trust with respect to all or any portion of the Property and Improvements pursuant to the terms and conditions of this Agreement; oror (j)

Appears in 1 contract

Samples: Construction Loan Agreement (Pizza Inn Inc /Mo/)

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