Foreclosure means the process by which a property, placed as security for a real estate loan, is sold at auction to satisfy the debt if the trustor (borrower) defaults.
Foreclosure means the process culminating in the acquisition of title to a Mortgaged Property in a foreclosure sale or by a deed in lieu of foreclosure or pursuant to any other comparable procedure allowed under Applicable Requirements.
Foreclosure means an action taken by an agency official that effectively precludes the Council from providing comments which the agency official can meaningfully consider prior to the approval of the undertaking.
Examples of Foreclosure in a sentence
Hurt and the Hurt Entities shall surrender the Cypress Creek Property in good condition and, other than as disclosed by Hurt in Exhibit A to this Agreement, including the Foreclosure Action, shall be unencumbered by any lien, claim, or right of any individual or entity.
These two matters have been consolidated and are hereinafter referred to as “the Foreclosure Action.” Hurt and the Hurt Entities agree to cooperate in any effort by the United States, the Trustee, or their agent(s) to resolve or stay the Foreclosure Action during the pendency of efforts to consummate the sale of the Cypress Creek Property.
More Definitions of Foreclosure
Foreclosure means possession of a property by a lender on which it has foreclosed on a security interest or the expiration of a lawful redemption period, whichever occurs first.
Foreclosure. Any foreclosure, the taking of a deed-in-lieu of foreclosure, or the completion of any judicial or non-judicial foreclosure or termination, cancellation or rescission of any such foreclosure of the Mortgages.
Foreclosure means a forfeiture or judicial or nonjudicial
Foreclosure shall include, without limitation, a power of sale.
Foreclosure means any exercise of the remedies available to a Mortgagee, upon a default under the Mortgage held by such Mortgagee, which results in a transfer of title to or possession of the Hotel. The term “foreclosure” shall include, without limitation, any one or more of the following events, if they occur in connection with a default under a Mortgage: (i) a transfer by judicial or non-judicial foreclosure; (ii) a transfer by deed in lieu of foreclosure; (iii) the appointment by a court of a receiver to assume possession of the Hotel; (iv) a transfer of either ownership or control of the Owner, by exercise of a stock pledge or otherwise; (vi) if title to the Hotel is held by a tenant under a ground lease, an assignment of the tenant’s interest in such ground lease or (vi) any similar judicial or non-judicial exercise of the remedies held by the Mortgagee resulting in actual ownership or control of the Hotel by such Mortgagee or its designee.
Foreclosure includes any lawful manner of generating proceeds from collateral whether by public auction, by private sale or otherwise;
Foreclosure shall include (but not be limited to) a sheriff's or trustee's sale under the power of sale con- tained in the Security Instruments, the termination of any superior lease of the Property and any other transfer of the Landlord's interest in the Property under peril of foreclosure, including, without limitation to the generality of the foregoing, an assignment or sale in lieu of foreclosure.