Cross-collateralization definition

Cross-collateralization means the pledging of the security of one Development to the obligations of another Development.

Cross-collateralization has the meaning set forth in Section 1.2 of this Agreement.

Cross-collateralization. Property given as security under this Plan or for any other loan Borrower has with the credit union will secure all amounts Borrower owes the credit union now and in the future. However, property securing another debt will not secure advances under the Plan if such property is Borrower’s principal residence (unless the proper rescission notices are given and any other legal requirements are satisfied), or are non-purchase money household goods. Transfer of Collateral You will not change the location of, sell or transfer the collateral unless you have our prior written consent. You do not intend to use the collateral as a residence or occupy for more than 14 days a year.

Examples of Cross-collateralization in a sentence

• Specifically, without limitation, Indebtedness includes all amounts that may be indirectly secured by the Cross-Collateralization provision of this Agreement.

• Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision, together with all interest thereon and all amounts that may be indirectly secured by the Cross-Collateralization provision of this Agreement.

• Nothing in this Agreement shall prohibit the Company from entering into any guaranties or indemnities with respect to obligations of entities which are affiliates of South Seas or from entering into any mortgages, deeds of trust, financing statements, cross-collateralization or other security agreements with respect thereto (all of the foregoing being collectively referred to as "Cross-Collateralization Agreements").

• Any Event of Default under this Instrument shall constitute an Event of Default under the Master Cross-Collateralization Agreement and any Event of Default under the Master Cross-Collateralization Agreement shall constitute an Event of Default under this Instrument.

• The Loan is cross-collateralized with certain other loans, subject to the terms of the Master Cross-Collateralization Agreement.

• Cross-Collateralization: In certain limited circumstances, principal and interest collected from any of the loan group I and II mortgage loans may be used to pay principal or interest, or both, to Senior Certificates (other than the Group III Certificates) unrelated to that loan group.

• Cross-Collateralization: Each month, certain interest payments on the group I and group II mortgage loans will be allocated to Group III available funds increasing available excess interest.

• Nothing in this Agreement shall prohibit the Partnership from entering into any guaranties or indemnities with respect to obligations of entities which are affiliates of CapStar Hotel Company or from entering into any mortgages, deeds of trust, financing statements, cross-collateralization or other security arrangements with respect thereto (all of the forgoing being collectively referred to as "Cross-Collateralization Agreements").

• The occurrence of an “Event of Default” under the Cross-Collateralization Agreement will constitute an Event of Default under this Instrument.

• The Original Borrowers and Lender entered into a certain Cross-Collateralization and Cooperation Agreement dated as of June 17, 2005 (the “Original Agreement”) in connection with a certain loan from Lender to Borrower described in the Original Agreement (the “Original Loan”).

More Definitions of Cross-collateralization

Cross-collateralization means the consummation, upon terms and conditions satisfactory to Lender in its sole discretion, pursuant to that certain Commitment of Lender dated January 28, 1997, in favor of the SPE Equity Owner of a secured loan transaction (the "Puenxx Xxxls Loan") between Lender, as lender, and a Single-Purpose Entity (the "Puenxx Xxxls Entity") which is or becomes the fee owner of The Plaza at Puenxx Xxxls, located in the City of Industry, California, subject to satisfaction of each and all of the following terms and conditions on or prior to February 28, 1997: (i) the Puenxx Xxxls Loan shall be in an amount not less than $33,100,000.00 and shall have the same Optional Prepayment Date and Maturity Date, respectively, as are applicable to the Loan; (ii) Borrower shall execute a guaranty of the repayment in full of the Puenxx Xxxls Loan in form and substance satisfactory to Lender in its sole discretion (the "Guaranty"); (iii) the Mortgage and, if required by Lender, the other Loan Documents shall be amended to provide that the Guaranty is secured by the Mortgage, such amendments to be in form and substance satisfactory to Lender in its sole discretion; (iv) Lender shall receive endorsements to the Title Insurance Policy satisfactory to Lender in its sole discretion confirming the priority of the lien of the Mortgage upon consummation of the conditions described herein and, if it so requests, reinsurance of liability under the Title Insurance Policy and the title insurance policy insuring the mortgage executed by the Puenxx Xxxls Entity; (v) there shall be no Default or Event of Default under any of the Loan Documents; (vi) Lender shall have received an opinion of counsel satisfactory to Lender in its sole discretion that the Guaranty and the Loan Documents, as amended, have been duly authorized, executed and delivered by Borrower and constitute the legal, valid and binding obligation of Borrower enforceable against Borrower in accordance with its terms; (vii) Lender shall have received a substantive non-consolidation opinion satisfactory to Lender in its sole discretion that Borrower and the Puenxx Xxxls Entity taken together would not be consolidated with any other entity in a

Cross-collateralization. Any royalty payment for Licensed Product sold shall only be applied against the Minimum Guarantee for the Contract Year in which such Licensed Product was sold (i.e., any shortfall in, or payment in excess of, the Minimum Guarantee for a Contract Year may not be offset or credited against the Minimum Guarantees for any other Contract Year or against any other NBA license (including premium license agreements entered into pursuant to Paragraph 5 hereof) held by LICENSEE).

Cross-collateralization means collateral for one loan also serving as collateral for other loans.