Common use of RIGHT TO MORTGAGE Clause in Contracts

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers its interest in this DDA as permitted under this DDA (collectively and individually, as the case may be, a “Mortgagor”) shall have the right, at any time and from time to time during the term of this DDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in the Project Site together with such Mortgagor’s interest in the Project Accounts relating to such portions of the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to the Mortgagor to pay or reimburse costs incurred in connection with obligations under this DDA, subject to this Article 20. Without limiting the foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers it transfers its interest in this DDA Agreement, as permitted under this DDA Agreement (collectively and individually, as the case may be, a “Mortgagor”) ), shall have the right, at any time and from time to time during the term of this DDAAgreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a such Mortgagor’s ownership interest respective interests in all or a portion of the Project Site together with and/or the Project Site, including any such Mortgagor’s interest in the Project any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site made by such Mortgagee to Site, the Mortgagor CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project, subject to the terms and conditions contained in this Article 20Section 18. Without limiting For any Mortgage that cross-collateralizes and/or cross- defaults the foregoingobligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may Transfer transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 18.4 shall not result in an extension of any of the time periods in this Article 20Section 18, including the cure periods specified in Section 20.518.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers its interest in this DDA as permitted under this DDA (collectively and individually, as the case may be, a “Mortgagor”) shall have the right, at any time and from time to time during the term of this DDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in the Project Site together with such MortgagorXxxxxxxxx’s interest in the Project Accounts relating to such portions of the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to the Mortgagor to pay or reimburse costs incurred in connection with obligations under this DDA, subject to this Article 20. Without limiting the foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers its respective interest in this DDA DDA, as permitted under this DDA (collectively and individually, as the case may be, a “Mortgagor”) shall have the right, at any time and from time to time during the term of this DDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a such Mortgagor’s respective ownership interest in all or a portion of the Project Site Site, together with such MortgagorXxxxxxxxx’s interest in the any Project Accounts relating to such portions of the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to the Mortgagor to pay or reimburse costs incurred in connection with obligations under this DDA, subject to the terms and conditions contained in this Article 20. Without limiting the foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency Authority shall have no obligations under this DDA to a Mortgagee unless the Agency Authority is notified of such Mortgagee. Furthermore, the AgencyAuthority’s receipt of notice of a Mortgagee following the AgencyAuthority’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers its respective interest in this DDA DDA, as permitted under this DDA (collectively and individually, as the case may be, a “Mortgagor”) shall have the right, at any time and from time to time during the term of this DDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a such Mortgagor’s respective ownership interest in all or a portion of the Project Site Site, together with such Mortgagor’s interest in the any Project Accounts relating to such portions of the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to the Mortgagor to pay or reimburse costs incurred in connection with obligations under this DDA, subject to the terms and conditions contained in this Article 20. Without limiting the foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency Authority shall have no obligations under this DDA to a Mortgagee unless the Agency Authority is notified of such Mortgagee. Furthermore, the AgencyAuthority’s receipt of notice of a Mortgagee following the AgencyAuthority’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5.

RIGHT TO MORTGAGE. Developer(a) Tenant shall have the right from time to time to grant one or more separate leasehold mortgages encumbering all or any functionally distinct portion of the Premises and the Improvements located thereon (each such portion of the Premises so mortgaged, Vertical Developer a "LEASEHOLD MORTGAGE PARCEL"), assign and any Person lease back all or a portion of the Premises and the Improvements located thereon incidental to whom any a so-called sale-leaseback financing (each such portion of them Transfers the Premises subject to a so-called sale-leaseback financing, a "SALE-LEASEBACK PARCEL") and grant a security interest under the Uniform Commercial Code in all or a portion of its interest in this DDA as permitted under this DDA the Premises and all or a portion of the Improvements (collectively each a "LEASEHOLD MORTGAGE" and individuallycollectively, the "LEASEHOLD MORTGAGES"), to secure the payment of any loan or loans obtained by Tenant from one or more recognized institutional lenders or other recognized financing sources (collectively, "LEASEHOLD MORTGAGEE"); provided, however, that Tenant shall give prior written notice to Landlord of its intent to exercise such rights hereunder, including in such notice the name, address of each such proposed Leasehold Mortgagee, the amount of such loan or loans and a description of the Leasehold Mortgage Parcel or the Sale-Leaseback Parcel, as the case may be, a “Mortgagor”) shall have and thereafter promptly furnish any other information regarding each such Leasehold Mortgagee which Landlord may reasonably request. The intent of this provision is to enable Tenant to separately finance those Improvements on the rightPremises used principally for manufacturing purposes, at any time for office and administrative purposes, and for research and development purposes, and for parking facilities. The Leasehold Mortgage having the first priority from time to time during with respect to each Leasehold Mortgage Parcel is the term of this DDA, "FIRST LEASEHOLD MORTGAGE" with respect to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in that respective Leasehold Mortgage Parcel; and the Project Site together holder thereof is the "FIRST LEASEHOLD MORTGAGE" with such Mortgagor’s interest in the Project Accounts relating respect to such portions of the Project Site (including the right that respective Leasehold Mortgage Parcel. All Leasehold Mortgages are sometimes referred to receive payments from the Funding Sources or other revenue emanating from the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to the Mortgagor to pay or reimburse costs incurred in connection with obligations under this DDA, subject to this Article 20. Without limiting the foregoing, no Mortgage shall be granted to secure obligations unrelated to the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5"PERMITTED FINANCING."

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers it transfers its interest in this DDA Agreement, as permitted under this DDA Agreement (collectively and individually, as the case may be, a “Mortgagor”) ), shall have the right, at any time and from time to time during the term of this DDAAgreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in the Project Site together with such Mortgagor’s interest respective interests in the Project Accounts relating to such portions all or a portion of the Project Site Project, the Property and/or a Portion (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) and/or the Property), for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to Project, the Mortgagor Property, Phase 1 and/or the CP/HPS2 Project, the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe Project, the Property, Phase 1 and/or the CP/HPS2 Project, subject to the terms and conditions contained in this Article 20Section 13. Without limiting the foregoingExcept as provided in this Section 13.1, no Mortgage shall be granted to secure obligations unrelated to the Project, the Property, Phase 1 and/or the CP/HPS2 Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project SiteProject, the Property, Phase 1 and/or the CP/HPS2 Project. Notwithstanding the foregoing, any Mortgage that relates to Vertical Developer’s interest in this Agreement must encumber the Property and any Mortgage that encumbers the Property must also encumber Vertical Developer’s interest in this Agreement. A Mortgagee may Transfer transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Vertical Developer or to one or more Mortgagees under Section 20.4 13.4 shall not result in an extension of any of the time periods in this Article 20Section 13, including the cure periods specified in Section 20.513.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers it transfers its interest in this DDA Agreement, as permitted under this DDA Agreement (collectively and individually, as the case may be, a “Mortgagor”) ), shall have the right, at any time and from time to time during the term of this DDAAgreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such Xxxxxxxxx’s respective interests in all or a Mortgagor’s ownership interest in portion of the Project Site together with and/or the Project Site, including any such Mortgagor’s interest in the Project any Land Proceeds Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site made by such Mortgagee to Site, the Mortgagor CP/HPS2 Project or the real property comprising the CP/HPS2 Project the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe Project, the Project Site, the CP/HPS2 Project or the real property comprising the CP/HPS2 Project, subject to the terms and conditions contained in this Article 20Section 18. Without limiting For any Mortgage that cross-collateralizes and/or cross- defaults the foregoingobligations of Developer and CP/HPS2 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 18.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may Transfer transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 18.4 shall not result in an extension of any of the time periods in this Article 20Section 18, including the cure periods specified in Section 20.518.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers it transfers its interest in this DDA Agreement, as permitted under this DDA Agreement (collectively and individually, as the case may be, a “Mortgagor”) ), shall have the right, at any time and from time to time during the term of this DDAAgreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of such Xxxxxxxxx’s respective interests in all or a Mortgagor’s ownership interest in the Project Site together with such Mortgagor’s interest in the Project Accounts relating to such portions portion of the Project Site Project, the Property and/or a Portion (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) and/or the Property), for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project Site made by such Mortgagee to Project, the Mortgagor Property, Phase 1 and/or the CP/HPS2 Project, the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe Project, the Property, Phase 1 and/or the CP/HPS2 Project, subject to the terms and conditions contained in this Article 20Section 13. Without limiting the foregoingExcept as provided in this Section 13.1, no Mortgage shall be granted to secure obligations unrelated to the Project, the Property, Phase 1 and/or the CP/HPS2 Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project SiteProject, the Property, Phase 1 and/or the CP/HPS2 Project. Notwithstanding the foregoing, any Mortgage that relates to Vertical Developer’s interest in this Agreement must encumber the Property and any Mortgage that encumbers the Property must also encumber Vertical Developer’s interest in this Agreement. A Mortgagee may Transfer transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Vertical Developer or to one or more Mortgagees under Section 20.4 13.4 shall not result in an extension of any of the time periods in this Article 20Section 13, including the cure periods specified in Section 20.513.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers its interest in this DDA as permitted under this DDA (collectively and individually, as the case may be, a “Mortgagor”) shall have the right, at any time and from time to time during the term of this DDA, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a such Mortgagor’s ownership interest respective interests in all or a portion of the Project Site together with and/or the Project Site, including any such Mortgagor’s interest in the Project Accounts relating to such portions of the Project and/or the Project Site (including the right to receive payments from the Funding Sources or other revenue emanating from the Project and/or the Project Site) for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the Project, the Project Site made by such Mortgagee to Site, the Mortgagor HPS 1 Project or the real property comprising the HPS 1 Project the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe Project, the Project Site, the HPS 1 Project or the real property comprising the HPS 1 Project subject to this Article 20. Without limiting For any Mortgage that cross-collateralizes and/or cross-defaults the foregoingobligations of Developer and HPS 1 Developer, Developer shall promptly provide to the Agency prior written notice of such Mortgage. Except as provided in this Section 20.1, no Mortgage shall be granted to secure obligations unrelated to the Project or the Project Site or to provide compensation or rights to a Mortgagee in return for matters unrelated to the Project or the Project Site. A Mortgagee may Transfer all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Developer or to one or more Mortgagees under Section 20.4 shall not result in an extension of any of the time periods in this Article 20, including the cure periods specified in Section 20.5.

RIGHT TO MORTGAGE. Developer, Vertical Developer and any Person to whom any of them Transfers it transfers its interest in this DDA Agreement, as permitted under this DDA Agreement (collectively and individually, as the case may be, a “Mortgagor”) ), shall have the right, at any time and from time to time during the term of this DDAAgreement, to grant a mortgage, deed of trust or other security instrument (each a “Mortgage”) encumbering all or a portion of a Mortgagor’s ownership interest in the Project Site together with such Mortgagor’s interest respective interests in the Project Accounts relating to such portions all or a portion of the Project Site Project, the Property and/or a Portion (including the right to receive payments from the Funding Sources or other revenue emanating from the Project Site) and/or the Property), for the benefit of any Person (together with its successors in interest, a “Mortgagee”) as security for one or more loans related to the [Project Site made by such Mortgagee to or the Mortgagor Property], the proceeds from which are used to pay or reimburse costs incurred in connection with obligations under this DDAthe [Project or the Property], subject to the terms and conditions contained in this Article 20Section 13. Without limiting the foregoingExcept as provided in this Section 13.1, no Mortgage shall be granted to secure obligations unrelated to the [Project Site or the Property] or to provide compensation or rights to a Mortgagee in return for matters unrelated to the [Project Siteor the Property]. Notwithstanding the foregoing, any Mortgage that relates to Vertical Developer’s interest in this Agreement must encumber the Property and any Mortgage that encumbers the Property must also encumber Vertical Developer’s interest in this Agreement. A Mortgagee may Transfer transfer or assign all or any part of or interest in any Mortgage without the consent of or notice to any Party; provided, however, that the Agency shall have no obligations under this DDA Agreement to a Mortgagee unless the Agency is notified of such Mortgagee. Furthermore, the Agency’s receipt of notice of a Mortgagee following the Agency’s delivery of a notice or demand to Vertical Developer or to one or more Mortgagees under Section 20.4 13.4 shall not result in an extension of any of the time periods in this Article 20Section 13, including the cure periods specified in Section 20.513.5.