Common use of Application of Earnings received by Mortgagee Clause in Contracts

Application of Earnings received by Mortgagee. Any moneys received by the Mortgagee in respect of the Earnings shall: 2.5.1 if received by the Mortgagee, or in the hands of the Mortgagee, prior to the occurrence of an Event of Default be retained by the Mortgagee and shall be paid over by the Mortgagee to the Owner at such times, in such amounts and for such purposes and/or shall be applied by the Mortgagee in or towards satisfaction of any sums from time to time accruing due and payable by the Owner under the Security Documents or any of them or by virtue of payment demanded thereunder, in each case as the Mortgagee may in its absolute discretion determine; and 2.5.2 if received by the Mortgagee, or in the hands of the Mortgagee, after the occurrence of an Event of Default, be applied by the Mortgagee in the manner specified in clause 2.3 and/or clause 2.5.1, as the Mortgagee may in its absolute discretion determine.

Application of Earnings received by Mortgagee. Any moneys received by the Mortgagee in respect of the Earnings shall: 2.5.1 if received by the Mortgagee, or in the hands of the Mortgagee, prior to the occurrence of an Event of Default be retained by the Mortgagee and shall be paid over by the Mortgagee to the Owner at such times, in such amounts and for such purposes and/or shall be applied by the Mortgagee in or towards satisfaction of any sums from time to time accruing due and payable by the Owner under the Security Documents or any of them or by virtue of payment demanded thereunder, in each case as the Mortgagee may in its absolute discretion determine; and; 2.5.2 if received by the Mortgagee, or in the hands of the Mortgagee, after the occurrence of an Event of Default, be applied by the Mortgagee in the manner specified in clause 2.3 and/or clause 2.5.1, as the Mortgagee may in its absolute discretion determine.

Application of Earnings received by Mortgagee. Any moneys received by the Mortgagee in respect of the Earnings shall: 2.5.1 if received by the Mortgagee, or in the hands of the Mortgagee, prior to the occurrence of an Event of Default be retained by the Mortgagee and shall be paid over by the Mortgagee to the Owner at such times, in such amounts amounts. and for such purposes and/or shall be applied by the Mortgagee in or towards satisfaction of any sums from time to time accruing due and payable by the Owner under the Security Documents or any of them or by virtue of payment demanded thereunder, in each case as the Mortgagee may in its absolute discretion determine; and 2.5.2 if received by the Mortgagee, or in the hands of the Mortgagee, after the occurrence of an Event of Default, be applied by the Mortgagee in the manner specified in clause 2.3 and/or clause 2.5.1, as the Mortgagee may in its absolute discretion determine.

Application of Earnings received by Mortgagee. Any moneys received by the Mortgagee in respect of the Earnings shall: 2.5.1 7.3.1 if received by the Mortgagee, or in the hands of the Mortgagee, prior to the occurrence of an Event of Default Default, be retained by the Mortgagee and shall be paid over by the Mortgagee Mortgagee, to the Owner Operating Account at such times, in such amounts and for such purposes and/or shall be applied by the Mortgagee Mortgagee, in or towards satisfaction of any sums from time to time accruing due and payable by the Owner under the Security Documents or any of them or by virtue of payment demanded thereunder, in each case as the Mortgagee Mortgagee, may in its absolute discretion determine; and; 2.5.2 7.3.2 if received by the Mortgagee, or in the hands of the Mortgagee, after the occurrence of an Event of Default, be applied by the Mortgagee in the manner specified in clause 2.3 7.1 (Application) and/or clause 2.5.17.3.1, as the Mortgagee may in its absolute discretion determine.