Common use of GRANT OF LIEN Clause in Contracts

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgagee, WITH POWER OF SALE and right of entry and possession, for the use and benefit of Mortgagee, as Collateral Agent and Trustee pursuant to the Indenture, all right, title, interest and estate in, to and under the Mortgaged Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee, subject to the terms and conditions of this Mortgage, with POWER OF SALE, forever, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee against every Person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if Mortgagor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, estates and rights granted by this Mortgage shall cease and terminate.

Appears in 7 contracts

Samples: Progress Precision Inc., Progress Precision Inc., Progress Precision Inc.

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GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, WARRANTS, CONVEYS AND CONFIRMS unto Mortgagee, WITH POWER OF SALE and right of entry and possession, for the use and benefit of Mortgagee, as Collateral Agent and Trustee pursuant to the Indenture, all right, title, interest and estate in, to and under the Mortgaged Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee, subject to the terms and conditions of this Mortgage, with POWER OF SALE, forever, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee against every Person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if Mortgagor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, estates and rights granted by this Mortgage shall cease and terminate.

Appears in 5 contracts

Samples: Mortgage (Progress Precision Inc.), Progress Precision Inc., Progress Precision Inc.

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor Trustor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERSTRANSFERS and CONVEYS unto Trustee and Trustee's successors, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgageeassigns and substitutes in trust hereunder, WITH POWER OF SALE and right of entry and possession, for the use and benefit of MortgageeBeneficiary, in its capacity as Collateral Administrative Agent for the Lenders, the real and Trustee pursuant to the Indenturepersonal property, all right, title, interest and estate in, to and under the Mortgaged Trust Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Trust Property unto MortgageeTrustee and Trustee's successors, assigns and substitutes in trust hereunder, subject to the terms and conditions of this MortgageDeed of Trust, with POWER OF SALE, forever, and Mortgagor Trustor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Trust Property unto Mortgagee Beneficiary against every Person whomsoever lawfully claiming or to claim the same or any part thereofpart, subject, however, to the Permitted Liens; provided, however, that if Mortgagor Trustor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, Liens estates and rights granted by this Mortgage Deed of Trust shall cease and terminate.

Appears in 4 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor Trustor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERSTRANSFERS and CONVEYS unto Trustee and Trustee's successors, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgageeassigns and substitutes in trust hereunder, WITH POWER OF SALE and right of entry and possession, for the use and benefit of MortgageeBeneficiary, as Collateral Agent and Trustee collateral agent for the Lenders pursuant to the IndentureFinancing Agreement, all the real and personal property, right, title, interest and estate in, to and under the Mortgaged Trust Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Trust Property unto MortgageeTrustee and Trustee's successors, assigns and substitutes in trust hereunder, subject to the terms and conditions of this MortgageDeed of Trust, with POWER OF SALE, forever, and Mortgagor Trustor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Trust Property unto Mortgagee Beneficiary against every Person whomsoever lawfully claiming or to claim the same or any part thereofpart, subject, however, to the Permitted Liens; provided, however, that if Mortgagor Trustor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, Liens estates and rights granted by this Mortgage Deed of Trust shall cease and terminate.

Appears in 3 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor Trustor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, CONVEYS AND and CONFIRMS unto MortgageeTrustee and Trustee’s successors, assigns and substitutes in trust hereunder, WITH POWER OF SALE and right of entry and possession, for the use and benefit of MortgageeBeneficiary, as Collateral Agent trustee and Trustee as collateral agent for the Holders pursuant to the Indenture, all right, title, interest and estate in, to and under the Mortgaged Trust Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Trust Property unto MortgageeTrustee and Trustee’s successors, assigns and substitutes in trust hereunder, subject to the terms and conditions of this MortgageDeed of Trust, with POWER OF SALE, forever, and Mortgagor Trustor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Trust Property unto Mortgagee Beneficiary against every Person whomsoever lawfully claiming or to claim the same or any part thereof, subject, however, to the Permitted Liens; provided, however, that if Mortgagor Trustor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, estates and rights granted by this Mortgage Deed of Trust shall cease and terminate.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Gsi Group Inc), Security Agreement and Fixture (Gsi Group Inc)

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GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note ObligationsObligations (but as limited by this Mortgage), Mortgagor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgagee, WITH POWER OF SALE and right of entry and possession, for the use and benefit of Mortgagee, acting on its own behalf and as Collateral Agent and Trustee pursuant to agent for the IndentureLenders, all right, title, interest and estate in, to and under the Mortgaged Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee, subject to the terms and conditions of this Mortgage, with POWER OF SALE, forever, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee against every Person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if Mortgagor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged; in accordance with the Credit Agreement, then the Liensliens, estates and rights granted by this Mortgage shall cease and terminate.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Ascendia Brands, Inc.), Ascendia Brands, Inc.

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgagee, WITH POWER OF SALE and right of entry and possession, for the use and benefit of Mortgagee, as Collateral Agent and Trustee collateral agent for the Lenders pursuant to the IndentureFinancing Agreement, all right, title, interest and estate in, to and under the Mortgaged Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee, subject to the terms and conditions of this Mortgage, with POWER OF SALE, forever, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee against every Person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if Mortgagor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, estates and rights granted by this Mortgage shall cease and terminate.

Appears in 1 contract

Samples: Financing Agreement (Lakes Entertainment Inc)

GRANT OF LIEN. To secure the full and timely payment, performance and discharge of all of the Senior Secured Note Obligations, Mortgagor hereby irrevocably GRANTS, BARGAINS, SELLS, ASSIGNS, TRANSFERS, MORTGAGES, CONVEYS AND CONFIRMS unto Mortgagee, WITH POWER OF SALE and right of entry and possession, for the use and benefit of Mortgagee, as Collateral Administrative Agent and Trustee for the Lenders pursuant to the IndentureCredit Agreement, all right, title, interest and estate in, to and under the Mortgaged Property, subject, however, to the Permitted Liens; TO HAVE AND TO HOLD the Mortgaged Property unto Mortgagee, subject to the terms and conditions of this Mortgage, with POWER OF SALE, forever, and Mortgagor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the title to the Mortgaged Property unto Mortgagee against every Person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if Mortgagor shall pay (or cause to be paid) and perform and discharge (or cause to be performed and discharged) all of the Senior Secured Note Obligations on or before the date on which the same are to be paid, performed and discharged, then the Liens, estates and rights granted by this Mortgage shall cease and terminate.

Appears in 1 contract

Samples: Lakes Entertainment Inc

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