Common use of Second Lien Status Clause in Contracts

Second Lien Status. Except for Permitted Liens and the Term Mortgage, Mortgagor shall preserve and protect the second lien and security interest status of this Mortgage against the Mortgaged Property. If any lien or security interest other than a Permitted Lien is asserted against the Mortgaged Property, Mortgagor shall as promptly as practical, and at its expense, take such reasonable action so as to cause it to be released or contest the same (as determined by Mortgagor) in compliance with the requirements of the Credit Agreement, the Loan Documents and the other Security Documents.

Second Lien Status. Except for Permitted Liens and the Term Mortgage, Mortgagor shall preserve and protect the second lien and security interest status of this Mortgage against the Mortgaged PropertyMortgage. If any lien or security interest other than a Permitted Lien is asserted against the Mortgaged Property, Mortgagor shall as promptly as practical, and at its expense, take such reasonable action as may be required pursuant to the Credit Agreement so as to cause it to be released or contest the same contested (as determined by Mortgagor) in compliance with the requirements of the Credit Agreementincluding, if applicable, the Loan Documents and the requirement of providing a bond or other Security Documentssecurity reasonably satisfactory to Mortgagee).