SHF Notes definition
Examples of SHF Notes in a sentence
Dunes and SHF will promptly pay when due all contractual obligations calling for the payment of money, taxes, assessments and charges which constitute, or, if unpaid, may become a lien, charge or encumbrance upon their respective businesses or any of their assets, including, without limitation, the Unsold Rancho Murieta Property, the SHF Notes, the SHF Deeds of Trust and the Nevada Property.
Pledgee shall further have the right to enforce any and all obligations of the obligors under the SHF Notes and the SHF Deeds of Trust, including, without limitation, instituting judicial or nonjudicial foreclosure proceedings with a right to credit bid on behalf of Pledgor.
Pledgee grants to Pledgor a license to collect current and past due payments of interest (but not more than one month in advance) and principal on the SHF Notes and to collect any fire insurance proceeds or condemnation awards relating to the real property encumbered by the SHF Deeds of Trust, until an Event of Default occurs.
No notice of the bankruptcy, insolvency, or financial embarrassment of any of the obligors under the SHF Notes and the SHF Deeds of Trust has been received by Pledgor, and upon Pledgor's receipt of any such notice Pledgor will immediately give Pledgee written notice thereof.
Concurrently with the execution of this Collateral Assignment, Pledgor has delivered to Pledgee the original SHF Notes and the original recorded SHF Deeds of Trust.
The obligations of the obligors under the SHF Notes and the SHF Deeds of Trust are not subject to any claim or defense for credits, offsets, reductions, damages, prepayment, conditions precedent, conditions subsequent or adjustment except as otherwise provided therein.
The RTC shall, within ten (10) days after the execution of this Agreement, approve the form and content of the original SHF Notes and the SHF Deeds of Trust, as well as the valuation and likelihood of collecting the SHF Notes, following a review of the original SHF Notes and SHF Deeds of Trust and such other reviews of the records and information relating thereto as the RTC determines, in its sole discretion, are appropriate and necessary.
Upon revocation of the license pursuant to PARAGRAPH 7.3, Pledgee shall have the right to notify the obligors under the SHF Notes that all payments of principal AND INTEREST on the SHF Notes and any other Income and Proceeds of the SHF Notes and the SHF Deeds of Trust are to be paid to Pledgee under California Commercial Code section 9502(1), and Pledgee, either itself or through a receiver, shall have the right to collect such Income and Proceeds.
In consideration of the financial accommodations given and continued to Dunes by Pledgee, and as partial collateral to secure the Indebtedness, Pledgor hereby absolutely, unconditionally, presently and irrevocably assigns, pledges, grants a security interest in, transfers to, and deposits with Pledgee the Collateral, including, without limitation the original SHF Notes, the original recorded SHF Deeds of Trust and the Income and Proceeds therefrom.
Pledgor is the absolute owner of the SHF Notes and the SHF Deeds of Trust, free and clear of all security interests, liens, encumbrances, adverse claims and any other claims of others except as disclosed to and accepted by Pledgee in writing prior to the execution of this Collateral Assignment.