Common use of Application of Indebtedness Toward Purchase Price Clause in Contracts

Application of Indebtedness Toward Purchase Price. If Beneficiary purchases the Property pursuant to foreclosure, power of sale or otherwise, then Beneficiary may, in lieu of cash, apply all or any portion of the sums due to Beneficiary under the Loan Agreement and this Indenture or any other instrument securing the Indebtedness, to the unpaid balance of the purchase price remaining after payment of any portion of the purchase price required to be paid in cash, and the costs and expenses of the sale, compensation and other charges relating to the sale.

Application of Indebtedness Toward Purchase Price. If Beneficiary purchases the Property pursuant to foreclosureUpon any such foreclosure sale, power of sale or otherwise, then Beneficiary may, in lieu of cash, apply all or any portion of the sums due to Beneficiary under the Loan Agreement and this Indenture or any other instrument securing the Indebtedness, to the unpaid balance of the purchase price remaining after payment of any portion of the purchase price required to be paid in cashif permitted by law, and the after allowing for costs and expenses of the sale, compensation and other charges relating in paying the purchase price, apply any or all of the Secured Obligations, in lieu of cash, to the amount which shall, upon distribution of the net proceeds of such sale, be payable.