No Credits on Account of the Debt. Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Mortgaged Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Mortgaged Property, or any part thereof, for real estate tax purposes by reason of this Mortgage or the Debt. In the event such claim, credit or deduction shall be required by law, Mortgagee shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
Appears in 4 contracts
Samples: elstico.com, Trademark Security Agreement (Aqua Care Systems Inc /De/), Leases and Rents and Security Agreement (Glimcher Realty Trust)
No Credits on Account of the Debt. Mortgagor will not claim or claim, demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Mortgaged Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Mortgaged Property, or any part thereof, for real estate tax purposes by reason of this Mortgage or the Debt. In the event such claim, credit or deduction shall be required by law, Mortgagee shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
Appears in 1 contract
Samples: Essex Hospitality Associates Iv Lp
No Credits on Account of the Debt. Mortgagor will not claim or demand or be entitled to any credit or credits against the outstanding balance of the Debt on account of the Debt for any part of the Taxes or Other Charges assessed against the Mortgaged Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Mortgaged Property, or any part thereof, by Mortgagor for real estate tax purposes by reason of this Mortgage or the Debt. In the event such claim, credit or deduction shall be required by law, Mortgagee shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
Appears in 1 contract
Samples: Leases and Rents and Security Agreement (Horizon Group Properties Inc)
No Credits on Account of the Debt. Mortgagor will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Mortgaged Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Mortgaged Property, or any part thereof, for real real, estate tax purposes by reason of this Mortgage or the Debt. In the event such claim, credit or deduction shall be required by law, Mortgagee shall have the option, by written notice of not less than ninety (90) days, to declare the Debt immediately due and payable.
Appears in 1 contract
Samples: And Security Agreement (Wellington Properties Trust)
No Credits on Account of the Debt. Mortgagor Borrower will not claim or claim, demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed against the Mortgaged Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Mortgaged Property, or any part thereof, for real estate tax purposes by reason of this Mortgage the Mortgages (or either of them) or the Debt. In the event such claim, credit or deduction shall be required by law, Mortgagee Lender shall have the option, by written notice of not less than ninety (90) 90 days, to declare the Debt immediately due and payable.
Appears in 1 contract
Samples: Loan Agreement (Nexthealth Inc)
