Persons to whom the secured liability is owed Sample Clauses

Persons to whom the secured liability is owed. 2.2.5.1 The liabilities secured include those owed to the following persons. They include those owed to us. Where a person other than us holds the mortgage, they include those owed to the holder. (We or the holder will notify you in writing after a change in the holder, but not doing so does not change the effect of this subsection.) They include those owed to another member of the group of companies of us or the holder of the mortgage. (For a liability not otherwise included, this applies only if we or the holder notify you in writing of this before the liability is incurred and give you the member’s name.) They include those owed to a person who holds the benefit of the liability for us or the holder, or a member, referred to above. (For a liability not otherwise included, this applies only if we or the holder notify you in writing of this before the liability is incurred and give you the person’s name.) They include those owed to us or the holder and held for the benefit of another person. In every case, if there are more than one of us or the person to whom the liability is owed, they include a liability owed to both or all (or either or any) of us or them. After a change in the holder of the mortgage, the liabilities secured continue to include existing and future liabilities owed to previous holders (including us).
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Related to Persons to whom the secured liability is owed

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