PRIOR SECURITY INTERESTS Sample Clauses

PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Xxxxxxxxx agrees:
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PRIOR SECURITY INTERESTS. The Liens in the Collateral granted to the Administrative Agent for the benefit of the Lenders pursuant to the Collateral Documents constitute and will continue to constitute first priority, perfected security interests, except in the case of (a) Permitted Liens, to the extent any such Permitted Liens would have priority over Liens in favor of the Administrative Agent pursuant to any applicable law and (b) Liens perfected only by possession, to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral. All filing fees and other expenses in connection with the perfection of such Liens have been or will be paid by the Loan Parties.
PRIOR SECURITY INTERESTS. HTFC acknowledges that its security interest in the Collateral, and HTFC's rights under this Agreement, are subject and subordinate to (a) a security interest held by the "Senior Lender" identified on the cover page, to secure funds that were loaned to Shareholder or that may, in the future, be advanced to Shareholder; and (b) extensions, renewals and replacements of such security interest without regard to the amount secured, provided only that HTFC's security interest shall not be subordinate to more than one such security interest at any time. The holder of such superior security interest is called the Senior Lender, even though such security interest may be held by a successor to the Senior Lender identified on the cover page or by another lender entirely. HTFC acknowledges that its security interest is and will also be subordinate to a security interest afforded to the Cooperative Corporation to secure fulfillment of Shareholder's obligations. WHEN RECAPTURE OCCURS. The date on which the Recapture Obligation becomes due and payable is sometimes called the "Recapture Date". As described below, in certain cases the Recapture Obligation becomes due and payable (an event that is sometimes referred to in this Agreement as "recapture") without the necessity of notice or action by HOME LPA or HTFC, while in other cases HOME LPA or HTFC must give notice to effect recapture. The Recapture Obligation shall become immediately due and payable in any one or more of the following events: Upon prior notice by HOME LPA or HTFC to Shareholder that Shareholder failed to make any payment due to the Senior Lender within sixty (60) days after the date on which it was due and Shareholder does not make such payments within thirty (30) days after such notice; Upon prior notice by HOME LPA or HTFC to Shareholder that Senior Lender has notified Shareholder that Shareholder has defaulted with respect to any material obligation imposed on Shareholder by the loan documents evidencing and securing Senior Lender's loan, and Shareholder has not cured such default within any period provided in such loan documents for the cure of such default; Without the need for notice or action by HOME LPA or HTFC, if Shareholder sells or otherwise transfers the Shares, or assigns Shareholder's ownership, other than to an "Approved Resale Purchaser" as described below; Upon prior notice to Shareholder by HOME LPA or HTFC that Shareholder has rented the Unit, or has otherwise failed or ceased to occ...
PRIOR SECURITY INTERESTS. (a) In addition to the Mortgagee’s powers under Clause 9.3 (Mortgagee’s powers), the Mortgagee may:
PRIOR SECURITY INTERESTS. (a) In addition to the powers specified in Clause 7.2 (Powers), the Security Agent may:
PRIOR SECURITY INTERESTS. This Security Agreement constitutes an amendment, restatement and modification of that certain Sixth Amended and Restated Security Agreement and Assignment from Debtor, Equity Compression Services Corporation, Equity Compressors, Inc. and Sunterra Energy Corporation, as debtors, granting liens and security interests in all of such Debtors' properties and assets to Bank of Oklahoma, National Association ("BOK") as collateral agent and Secured Party, dated as of December 19, 1997, together with the Prior Security Agreements therein described, as such prior liens and security interests were transferred and assigned by BOK to Secured Party on even date herewith pursuant to an Assignment of Note, Liens and Related Documents. Debtor hereby ratifies, confirms and adopts said prior liens and security interests which shall be extended, renewed and carried forward under the terms of this Security Agreement. None of the rights, titles and interests existing and to exist in favor of BOK and its assignees and other lenders in connection with said prior liens and security interests are hereby released, diminished or impaired, and any existing financing statements covering the Collateral shall continue to preserve, protect and perfect all such existing rights, titles and interests.
PRIOR SECURITY INTERESTS. 27.1 In the event of any action, proceeding or step being taken to exercise any powers or remedies conferred by any prior ranking Security Interest against any of the Security Assets or in case of exercise by the Lender or any Receiver of any power of sale under this Deed, the Lender may redeem such prior Security Interest or procure the transfer of such Security Interest to itself.
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PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Trustor agrees to make all payments when due and to perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Beneficiary's prior written approval. Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property. Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment, or deterioration of the Property. Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or damage to the Property. Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's inspection.
PRIOR SECURITY INTERESTS. (i) At any time after the occurrence of an Event of Default which is continuing, the Chargee may, at the sole cost of the Chargor (payable to the Chargee on demand):
PRIOR SECURITY INTERESTS. Grantor warrants and affirms that there is no other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property prior to this Deed of Trust.
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