Granting Clauses Condition of Grant Sample Clauses

Granting Clauses Condition of Grant. In order to secure the prompt payment and performance of the Obligations, Grantor (a) grants, bargains, sells and conveys the Real Property unto the Trustees in trust for the benefit of Beneficiary, to have and to hold the Real Property unto the Trustees in fee simple forever; provided that, Grantor may retain possession of the Real Property until the occurrence of an Event of Default; and (b) grants Beneficiary a lien on, and security interest in, the Personalty; and (c) unconditionally and absolutely assigns the Leases and Rents to Beneficiary (but subject to the license for collection of Rents described in Section 4.14(b) (Leases)); and (d) assigns to, and grants Beneficiary a security interest in, any Contracts of Sale; and (e) assigns to Beneficiary all Condemnation Awards and any insurance proceeds payable with respect to any Casualty. If and when Grantor has paid and performed all of the Obligations, the Trustees, upon request by Beneficiary, will provide a release of this Deed of Trust to Grantor. Grantor shall be responsible for the recordation of such release and payment of any recording costs.
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Granting Clauses Condition of Grant. In order to secure the prompt payment and performance of the Obligations, the Grantors and the Affiliates (a) grant, bargain, sell and convey the Property unto the Trustees in trust for the benefit of the Beneficiary, to have and to hold the Property unto the Trustees for the unexpired term of years remaining under the Ground Lease, the Sub-Lease, and the Facility Lease and any renewals or extensions thereof, together with all of the Grantors' rights, title and interest as tenant under the Ground Lease, and the Sub-Lease, as the case may be, including, without limitation, its rights (if any) to terminate, disaffirm, surrender, supplement, alter or amend the Ground Lease or the Sub-Lease, to renew or extend the Ground Lease or the Sub-Lease, and to purchase the fee simple interest in the Land; provided that, the Grantors may retain possession of the Property until the occurrence of an Event of Default and further provided, that with respect to the Sub-Lease and the Facility Lease, it being understood and agreed that the Borrower and the Affiliate only grant, bargain, sell and convey their interest in the Leasehold Real Property; and (b) grants the Beneficiary a lien on, and security interest in, the Personalty; and (c) unconditionally and absolutely assigns the Leases and Rents to the Beneficiary (but subject to the license for collection of Rents described in Section 4.12 (b)); and (d) assigns to, and grants the Beneficiary a security interest in, any Contracts of Sale; and (e) assigns to the Beneficiary all Condemnation Awards and any insurance proceeds payable with respect to any Casualty. If and when Grantors have paid and performed all of the Obligations, no further advances are to be made under the Loan Agreement and the BioReliance Loan has been indefeasibly repaid in full, the Trustees, upon request by the Beneficiary, will provide a release of this Deed of Trust to the Grantors. The Grantors shall be responsible for the recordation of such release and payment of any recording costs.
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Granting Clauses Condition of Grant. Section 2.1
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Granting Clauses Condition of Grant 
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Related to Granting Clauses Condition of Grant

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void.

  • Conditions to Obligation of Parent The obligation of Parent to consummate the Merger is also subject to the fulfillment or written waiver by Parent prior to the Closing Date of each of the following conditions:

  • Conditions to Obligation of Seller The obligation of Seller to consummate the transactions to be performed by it in connection with the Closing is subject to satisfaction of the following conditions:

  • Title to and Condition of Personal Property The Company has merchantable title to all personal property reflected in the April 1997 Balance Sheet or acquired subsequent to the date of the April 1997 Balance Sheet, free and clear of all liens or encumbrances, except as disclosed in Schedule 3.15 hereto. No representation or warranty as to the condition of any such personal property is made in this Agreement. The Company owns or has the right to use all such properties necessary to the conduct of its business as currently conducted.

  • Conditions to Obligation of Sellers The obligation of Sellers to consummate the transactions to be performed by them in connection with the Closing is subject to satisfaction of the following conditions:

  • Conditions to Obligation of Buyer The obligation of Buyer to consummate the Closing is subject to the satisfaction of the following further conditions:

  • Condition of Personal Property All tangible personal property, equipment, fixtures and inventories included within the assets of the Company or required to be used in the ordinary course of business are in good, merchantable, or in reasonable repairable condition and are suitable for the purposes for which they are used. No value in excess of applicable reserves has been given to any inventory with respect to obsolete or discontinued products. All of the inventories and equipment, including equipment leased to others, are well maintained and in good operating condition.

  • Conditions to Obligation of Purchaser The obligation of Purchaser to consummate the transactions to be performed by it in connection with the Closing is subject to satisfaction of the following conditions:

  • Conditions to Obligation of Each Party to Effect the Merger. The respective obligations of each party to effect the Merger shall be subject to the satisfaction at or prior to the Effective Time of the following conditions:

  • CONDITIONS TO PURCHASE The obligations of the Purchaser to purchase any Mortgage Loans on any Closing Date are subject to the satisfaction, as applicable, prior to or on the Initial Closing Date and on such Closing Date (or on such other date as expressly provided for herein) of the following conditions, any of which may be waived in writing by Purchaser:

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