Common use of Multiple Mortgages Clause in Contracts

Multiple Mortgages. Whenever in this Agreement, the term Leasehold Mortgagee is used, such term shall be limited to any Leasehold Mortgagee designated by StadCo as a Leasehold Mortgagee in a notice to the Authority. The Parties agree that regardless of the actual number of Leasehold Mortgagees, only one of such Leasehold Mortgagees (acting either on its own behalf or as agent or nominee for all Leasehold Mortgagees) may be designated by StadCo as the point of contact for all Leasehold Mortgagees in any individual notice and, as such, be entitled to exercise on behalf of all Leasehold Mortgagees, and to invoke on behalf of all Leasehold Mortgagees the benefits of, a Leasehold Mortgagee under this Agreement.