Common use of Greater Estate Clause in Contracts

Greater Estate. In the event that Grantor is the owner of a leasehold estate or any other estate less than a fee simple with respect to any portion of the Premises and/or Personal Property and, prior to the satisfaction of the Obligation and the cancellation of this Deed of Trust of record, Grantor obtains a greater estate or interest in such portion of the Premises and/or Collateral, then, such greater estate or interest shall automatically and without further action of any kind on the part of Grantor be and become subject to the lien of this Deed of Trust.

Greater Estate. In the event that Grantor is the owner of a leasehold estate or any other estate less than a fee simple with respect to any portion of the Premises and/or Personal Property and, prior to the satisfaction of the Obligation Secured Indebtedness and the cancellation of this Deed of Trust of record, Grantor obtains a greater estate or interest in such portion of the Premises and/or CollateralPremises, then, such greater estate or interest shall automatically and without further action of any kind on the part of Grantor be and become subject to the lien of this Deed of Trust.

Greater Estate. In the event that Grantor is the owner of a leasehold estate or any other estate less than a fee simple with respect to any portion of the Premises and/or Personal Mortgaged Property and, prior to the satisfaction of the Obligation Obligations and the cancellation of this Deed of Trust of record, Grantor obtains a greater fee estate or interest in such portion of the Premises and/or CollateralMortgaged Property, then, such greater estate or interest Grantor shall automatically immediately execute and without further action of any kind on the part of Grantor be and become subject deliver to the lien Beneficiary in recordable form a deed of trust or such other instrument as the Beneficiary may reasonably require to subject such portion of the Mortgaged Property to the terms, provisions and conditions of this Deed of Trust.