Common use of The Properties Clause in Contracts

The Properties. Effective upon the execution and delivery of this Supplement by the Lessor/Mortgagee and the Lessee/Mortgagor, the Land, all Improvements on the Land and all other improvements now on the Land or which hereafter may be constructed thereon and all Appurtenant Rights with respect thereto and all Equipment (collectively, the "Subject Property") shall be subject to the terms and provisions of the Master Lease and the Lessor/Mortgagee hereby grants, conveys, transfers and assigns to the Lessee/Mortgagor those interests, rights, titles, estates, powers and privileges provided for in the Master Lease with respect to the Subject Property.