Common use of FOR GOOD AND VALUABLE CONSIDERATION Clause in Contracts

FOR GOOD AND VALUABLE CONSIDERATION. the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, assigns and transfers to Assignee, for itself and as agent pursuant to the Loan Agreement, and its successors and assigns, all of its right, title and interest in and to that certain MORTGAGE WITH ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING from [______________________] (“Borrower”) in favor of Assignor, dated as of [________________] and recorded on [___________________], as [_______________] in [_______________] of the County Clerk of [_______________], securing the Obligations under that certain Second Amended and Restated Loan and Security Agreement dated as of May [___], 2022, by and among Assignor, Borrower, and the lenders party thereto, and that certain [[Promissory Note]] dated [_______________] from Borrower in favor of Assignee (as assigned to it by Assignee), in the original principal amount of $[_______________] (the “Mortgage”), which Mortgage encumbers that certain real property situated [_______________] and described in Exhibit A attached hereto. This Assignment is subject to the terms and conditions of the Loan Agreement. 1 [To be conformed/formatted to local recording requirements] TO HAVE AND TO HOLD the Mortgage unto Assignee, and to the successors and assigns of Assignee, subject to the terms and conditions of the Loan Agreement, and reserving unto Assignor the right to collect the indebtedness evidenced or secured thereby, to enforce the terms thereof and to modify the terms thereof except to the extent prohibited under the terms of the Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

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FOR GOOD AND VALUABLE CONSIDERATION. the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, assigns and transfers to Assignee, for itself and as agent pursuant to the Loan Agreement, and its successors and assigns, all of its right, title and interest in and to that certain MORTGAGE WITH ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING from [______________________] (“Borrower”) in favor of Assignor, dated as of [________________] and recorded on [___________________], as [_______________] in [_______________] of the County Clerk of [_______________], securing the Obligations under that certain Second Fourth Amended and Restated Loan and Security Agreement dated as of May June [___], 20222023, by and among Assignor, Borrower, and the lenders party thereto, and that certain [[Promissory Note]] dated [_______________] from Borrower in favor of Assignee (as assigned to it by Assignee), in the original principal amount of $[_______________] (the “Mortgage”), which Mortgage encumbers that certain real property situated [_______________] and described in Exhibit A attached hereto. This Assignment is subject to the terms and conditions of the Loan Agreement. 1 [To be conformed/formatted to local recording requirements] TO HAVE AND TO HOLD the Mortgage unto Assignee, and to the successors and assigns of Assignee, subject to the terms and conditions of the Loan Agreement, and reserving unto Assignor the right to collect the indebtedness evidenced or secured thereby, to enforce the terms thereof and to modify the terms thereof except to the extent prohibited under the terms of the Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

FOR GOOD AND VALUABLE CONSIDERATION. the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, assigns and transfers for collateralization purposes to Assignee, for itself and as agent pursuant to the Loan Agreement, and its successors and assigns, all of its right, title and interest in and to that certain MORTGAGE WITH ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING from [________________________] (“Borrower”) in favor of Assignor, dated as of [___________________] and recorded on [___________________], as [_______________] in [_______________] of the County Clerk of [___________________], securing the Obligations under that certain Second Amended and Restated Loan and Security Agreement dated as of May [___], 2022, by and among Assignor, Borrower, and the lenders party thereto, and that certain [[Promissory Note]] dated [___________________] from Borrower in favor of Assignee (as assigned to it by AssigneeAssignor), in the original principal amount of $[___________________] (the “Mortgage”), which Mortgage encumbers that certain real property situated [___________________] and described in Exhibit A attached hereto. This Assignment is subject to the terms and conditions of the Loan Agreement. 1 2 [To be conformed/formatted to local recording requirements] TO HAVE AND TO HOLD the Mortgage unto Assignee, and to the successors and assigns of Assignee, subject to the terms and conditions of the Loan Agreement, and reserving unto Assignor the right to collect the indebtedness evidenced or secured thereby, to enforce the terms thereof and to modify the terms thereof except to the extent prohibited under the terms of the Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

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FOR GOOD AND VALUABLE CONSIDERATION. the receipt and sufficiency of which are hereby acknowledged, Assignor hereby sells, assigns and transfers for collateralization purposes to Assignee, for itself and as agent pursuant to the Loan Agreement, and its successors and assigns, all of its right, title and interest in and to that certain MORTGAGE WITH ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING from [______________________] (“Borrower”) in favor of Assignor, dated as of [_________________] and recorded on [___________________], as [_______________] in [_______________] of the County Clerk of [_______________], securing the Obligations under that certain Second Fourth Amended and Restated Loan and Security Agreement dated as of May June [___], 20222023, by and among Assignor, Borrower, and the lenders party thereto, and that certain [[Promissory Note]] dated [________________] from Borrower in favor of Assignee (as assigned to it by AssigneeAssignor), in the original principal amount of $[________________] (the “Mortgage”), which Mortgage encumbers that certain real property situated [_________________] and described in Exhibit A attached hereto. This Assignment is subject to the terms and conditions of the Loan Agreement. 1 [To be conformed/formatted to local recording requirements] TO HAVE AND TO HOLD the Mortgage unto Assignee, and to the successors and assigns of Assignee, subject to the terms and conditions of the Loan Agreement, and reserving unto Assignor the right to collect the indebtedness evidenced or secured thereby, to enforce the terms thereof and to modify the terms thereof except to the extent prohibited under the terms of the Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

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