200305038 - Laserfiche WebLink

Browse

200305038 Lien. The Beneficiary shall be subrogated, notwithstanding their release of record, to mortgages, trust deeds, superior titles, vendor's liens, liens, charges, encumbrances, rights and equities on the Property to the extent that any obligation under any thereof is paid or discharged with proceeds of disbursements or advances under any instrument evidencing Secured Obligations. Section 6.14. Revolving Loans. This Deed of Trust secures the guaranty of a revolving line of credit. The Secured Obligations secured by this Deed of Trust include the obligations of the Grantor with respect to any Secured Obligation arising under or in respect of the Subsidiary Guaranty, including its obligations relating to Loans, which may be advanced, paid, and readvanced from time to time and Reimbursement Obligations with respect to Letters of Credit, which Letters of Credit may be issued and expire or terminate and new Letters of Credit be thereafter issued from time to time. Notwithstanding the amount of Reimbursement Obligations outstanding at any particular time, this Deed of Trust secures the total amount of Secured Obligations up to a maximum principal amount of $187,500,000. Subject to the conditions stated in the Credit Agreement, all advances of Loans by the Secured Parties and issuances of Letters of Credit by the Issuing Bank are obligatory and such Loans and Reimbursement Obligations in respect of such Letters of Credit are secured by this Deed of Trust and all such obligatory advances and Reimbursement Obligations with respect to all such obligatorily issued Letters of Credit will have the same priority, to the extent permitted by law, as the funds initially advanced on or before the date hereof. The unpaid balance of the Loans and the Reimbursement Obligations and the unpaid balance of Secured Obligations may at certain times be zero. A zero balance, by itself, does not affect any Secured Party's obligations to advance Loans or the Issuing Bank's obligations to issue Letters of Credit. In no event shall the Lien of this Deed of Trust be eliminated because the amount of the Secured Obligations is reduced to zero. The interest of the Beneficiary hereunder will remain in full force and effect notwithstanding a zero balance of Secured Obligations, and the Lien of this Deed of Trust will not be extinguished until all amounts secured hereby have been paid, all Commitments have been terminated, all Letter of Credit exposures have been reduced to zero. The Lien of this Deed of Trust shall continue until a release of this Deed of Trust is recorded pursuant to Nebraska law. Section 6.15. Additional Provisions. Appendix A attached hereto contains any additional provisions that are necessary or appropriate under the laws of the state in which the Trust Property is located or pursuant to the provisions of any Permitted Encumbrances. Section 6.16. Trustee. (a) The Grantor hereby irrevocably appoints the Trustee to act in that capacity hereunder and the Trustee hereby accepts such appointment. The Grantor hereby irrevocably ratifies and confirms all acts which the Trustee shall lawfully take in accordance with the provisions hereof. 39 (NY) 04675 / 120 /REAL/NEBRASKA/forin.dot.NE.doc