Examples of Mortgaged Property in a sentence
The parties hereto acknowledge that some of the Mortgaged Property may be determined under applicable law to be personal property or fixtures.
Upon any consolidation or merger or any conveyance or other transfer, subject to the Lien of this Indenture, of the Mortgaged Property as or substantially as an entirety in accordance with Section 13.01, the Successor Corporation shall succeed to, and be substituted for, and may exercise every power and right of, the Company under this Indenture with the same effect as if such Successor Corporation had been named as the “Company” herein.
To the extent that any Mortgaged Property may be or be determined to be personal property or fixtures, the Company, as debtor, hereby grants the Trustee, as secured party, a security interest in all such Mortgaged Property, to secure payment and performance of the Bonds.
Unless one or more Events of Default shall have occurred and be continuing, the Company shall be permitted to possess, use and enjoy the Mortgaged Property (except such cash as is expressly required to be deposited with the Trustee and except, to the extent not otherwise provided herein, such securities as are expressly required to be deposited with the Trustee).
This Indenture constitutes a security agreement under the Uniform Commercial Code as in effect in each jurisdiction in which the Mortgaged Property is located, as amended or recodified from time to time, covering all such Mortgaged Property.