Common use of Appointment of Receiver Clause in Contracts

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 8 contracts

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems Inc)

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Appointment of Receiver. Upon or at the occurrence and during the continuance of an Event of Default, subject to the terms of any time after the filing of a complaint to foreclose this Mortgageapplicable Intercreditor Agreement, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver additional notice and without regard to the value adequacy of any security for the Premises or Obligations secured hereby, whether the same shall then be then occupied as a homestead or not not, or the solvency of any party bound for its payment, to make application for the appointment of a receiver to take possession of and to operate the Lender hereunder or any other holder Premises, and to collect the rents, issues, profits, and income thereof, all expenses of which shall be added to the Note may be appointed as such receiverObligations and secured hereby. Such The receiver shall have all the rights and powers provided for under the laws of the state in which the Premises are located, including without limitation, the power to execute leases, and the power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Mortgage. Notwithstanding the appointment of any receiver, trustee or other custodian, subject to any applicable Intercreditor Agreement, the Mortgagee shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Mortgage to the Mortgagee to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 6 contracts

Samples: Notes Collateral Agreement (Cornerstone Building Brands, Inc.), Term Loan Guarantee and Collateral Agreement (Cornerstone Building Brands, Inc.), Abl Credit Agreement (Veritiv Corp)

Appointment of Receiver. Upon or at the occurrence and during the continuance of an Event of Default, subject to the terms of any time after applicable Intercreditor Agreement (as defined in the filing of a complaint to foreclose this MortgageGuarantee and Collateral Agreement), the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver additional notice and without regard to the value adequacy of any security for the Premises or Obligations secured hereby, whether the same shall then be then occupied as a homestead or not not, or the solvency of any party bound for its payment, to make application for the appointment of a receiver to take possession of and to operate the Lender hereunder or any other holder Premises, and to collect the rents, issues, profits, and income thereof, all expenses of which shall be added to the Note may be appointed as such receiverObligations and secured hereby. Such The receiver shall have all the rights and powers provided for under the laws of the state in which the Premises are located, including without limitation, the power to execute leases, and the power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Mortgage. Notwithstanding the appointment of any receiver, trustee or other custodian, subject to any applicable Intercreditor Agreement (as defined in the Guarantee and Collateral Agreement), the Mortgagee shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Mortgage to the Mortgagee to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 6 contracts

Samples: First Lien Credit Agreement (Us LBM Holdings, Inc.), Second Lien Credit Agreement (Us LBM Holdings, Inc.), Second Lien Credit Agreement (Mauser Group B.V.)

Appointment of Receiver. Upon or at any time after To the filing extent permitted by law, Mortgagee shall be entitled, as a matter of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver absolute right and without regard to the value of any security for the Premises Secured Obligations or whether the same shall be then occupied as solvency of any person liable therefor, to the appointment of a homestead receiver for the Property upon ex-parte application to any court of competent jurisdiction. Mortgagor waives any right to any hearing or not and notice of hearing prior to the Lender hereunder or any other holder appointment of the Note may be appointed as such a receiver. Such receiver and its agents shall have power be empowered, but shall not be obligated, to (a) take possession of the Property and any businesses conducted by Mortgagor or any other person thereon and any business assets used in connection therewith, (b) exclude Mortgagor and Mortgagor’s agents, servants, and employees from the Property, (c) collect the rents, issues issues, profits, and profits income therefrom, (d) complete any construction which may be in progress, (e) do such maintenance and make such repairs and alterations as the receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the Premises (i) during the pendency of such foreclosure suitreceivership estate, (iig) in case of a sale pay all taxes and a deficiencyassessments against the Property and the Chattels, during the full statutory period of redemptionall premiums for insurance thereon, whether there be redemption all utility and other operating expenses, and all sums due under any prior or notsubsequent encumbrance, and (iiih) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual generally do anything which Mortgagor could legally do if Mortgagor were in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseProperty. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including attorneys’ fees incurred by the receiver and by Mortgagee, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Secured Obligations in payment such order or manner as Mortgagee may in its sole discretion elect or in such other manner as the court may direct. Unless sooner terminated with the express consent of (a) Mortgagee, any such receivership will continue until the IndebtednessSecured Obligations have been discharged in full, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof or of such judgment or decree, provided such application is made prior to Property has passed after foreclosure sale, and (b) any deficiency upon a sale and deficiencyall applicable periods of redemption have expired.

Appears in 5 contracts

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (GTJ REIT, Inc.)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Borrower does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 5.3 below. Such receivership shall, at the option of Lender, continue until full payment of all of the Debt or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Mortgage or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 5 contracts

Samples: Mortgage, Security Agreement and Fixture Filing (Acadia Realty Trust), Mortgage, Security Agreement and Fixture Filing (Mack Cali Realty Corp), Mortgage, Security Agreement and Fixture Filing (Mack Cali Realty Corp)

Appointment of Receiver. Upon or at any time after the filing occurrence and during the continuance of a complaint an Event of Default, subject to foreclose this Mortgagethe terms of the ABL/Term Loan Intercreditor Agreement, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver additional notice and without regard to the value adequacy of any security for the Premises or Obligations secured hereby, whether the same shall then be then occupied as a homestead or not not, or the solvency of any party bound for its payment, to make application for the appointment of a receiver to take possession of and to operate the Lender hereunder or any other holder Premises, and to collect the rents, issues, profits, and income thereof, all expenses of which shall be added to the Note may be appointed as such receiverObligations and secured hereby. Such The receiver shall have all the rights and powers provided for under the laws of the state in which the Premises are located, including without limitation, the power to execute leases, and the power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Mortgage. Notwithstanding the appointment of any receiver, trustee or other custodian, subject to the ABL/Term Loan Intercreditor Agreement, the Mortgagee shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Mortgage to the Mortgagee to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 4 contracts

Samples: Credit Agreement (Envision Healthcare Corp), Credit Agreement (Nci Building Systems Inc), Credit Agreement (Emergency Medical Services CORP)

Appointment of Receiver. Upon or at Mortgagee in any time after the filing of a complaint action to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgage shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency notice and as a matter of the Mortgagor at the time of application for such receiver right and without regard to the value adequacy of any security of the Premises indebtedness or whether the same shall be then occupied as solvency of Mortgagor, upon application to any court having jurisdiction, to the appointment of a homestead or not and the Lender hereunder or any other holder receiver of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues income and profits of the Premises Mortgaged Property. If an Event of Default (ihereinbelow defined) during occurs under this Mortgage, as a matter of right and without regard to the pendency adequacy of such foreclosure suitany security for the Note, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but upon demand of the Mortgagee, shall surrender the possession of, and it shall be lawful for the intervention of Mortgagee, by such receiverofficer or agent as it may appoint, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, take possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion part of the Premises for a term that extends beyond Mortgaged Property together with the time books, papers, and accounts of such receiver’s possession without obtaining prior court approval of such lease. The court the Mortgagor pertaining thereto, and to hold, operate and manage the same, and from time to time to make all needed repairs and improvements as Mortgagee shall deem wise; and, if Mortgagee deems it necessary or desirable, to complete construction and equipping of any Improvements and in the course of such construction or equipping to make such changes to the same as it may authorize deem desirable; and Mortgagee may sell the application Mortgaged Property or any part thereof, or institute proceedings for the complete or partial foreclosure of the net income received by lien of this Mortgage on the receiver in payment of (a) the IndebtednessMortgaged Property, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, lease the Premises or any taxpart thereof in the name and for the account of the Mortgagor or Mortgagee and collect, special assessment receive and sequester the rents, revenues, earnings, income, products and profits therefrom, and out of the same and any other monies received hereunder pay or provide for the payment of, all proper costs and expenses of taking, holding, leasing, selling and managing the same, including reasonable compensation to Mortgagee, its agents and counsel, and any charges of Mortgagee hereunder, and any taxes and other lien which may be or become superior charges prior to the lien hereof or of such judgment or decree, provided such application is made prior this Mortgage which Mortgagee may deem it wise to foreclosure sale, and (b) any deficiency upon a sale and deficiencypay.

Appears in 4 contracts

Samples: Mortgage and Security Agreement (Vicon Industries Inc /Ny/), Mortgage and Security Agreement (Vicon Industries Inc /Ny/), Open End Mortgage and Security Agreement (Essex Hospitality Associates Iv Lp)

Appointment of Receiver. Upon or If, at any time after a default hereunder, in the filing sole discretion of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment receivership may be made either necessary to protect the Property or its rents, issues, revenue, profits or proceeds, whether before or after sale, without notice, without regard to the solvency or insolvency maturity of the Mortgagor indebtedness secured hereby and whether before or at the time of application for or after the institution of suit to collect such receiver indebtedness, or to enforce this Security Deed, the Lender, as a matter of strict right and without regard to regardless of the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application and without notice to anyone, and by any court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Property, to collect the rents, issues issues, revenues, profits, proceeds and profits income thereof, to make all necessary and needful repairs, and to pay all taxes, assessments and charges against the Property and all premiums for insurance thereon, and to do such other acts as may by such court be authorized and directed, and after payment of the Premises (i) during expenses of the pendency receivership and the management of the Property, to apply the net proceeds of such foreclosure suitreceivership in reduction of the indebtedness secured hereby or in such other manner as the said court shall direct, (ii) in case notwithstanding the fact that the amount owing thereon may not then be due and payable or the said indebtedness is otherwise adequately secured. Such receivership shall, at the option of Lender, continue until full payment of all sums hereby secured or until title to the Property shall have passed by sale under this Security Deed. Borrower hereby specifically waives its right to object to the appointment of a sale receiver as aforesaid and hereby expressly agrees that such appointment shall be made as an admitted equity and as a deficiency, during the full statutory period matter of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, absolute right to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLender.

Appears in 4 contracts

Samples: Deed to Secure Debt and Security Agreement (Roberts Realty Investors Inc), Deed to Secure Debt and Security Agreement (Roberts Realty Investors Inc), Deed to Secure Debt and Security Agreement (Roberts Realty Investors Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Grantor and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Grantor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Grantor does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Grantee, but for nothing herein is to be construed to deprive Grantee of any other right, remedy or privilege Grantee may now have under the intervention law to have a receiver appointed, provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Grantee to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Grantee, continue until full payment of all of the indebtedness secured hereby or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Security Deed or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 4 contracts

Samples: Deed to Secure Debt and Security Agreement (Merry Land Capital Trust), Deed to Secure Debt and Security Agreement (Merry Land Properties Inc), Deed to Secure Debt and Security Agreement (Merry Land Properties Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 4 contracts

Samples: Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc)

Appointment of Receiver. (a) Upon or at any time after the filing occurrence and during the continuation of a complaint an Event of Default, Agent shall be entitled to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint immediate appointment of a receiver for the Premises in accordance with the applicable laws all or part of the State of Arkansas. Such appointment may be made either before or after saleCollateral, without notice, without regard whether such receivership is incidental to the solvency or insolvency a proposed sale of the Mortgagor at Collateral or otherwise. In such event, Agent may take proceedings in any court of competent jurisdiction for the time appointment of application for such a receiver and without regard to the value of the Premises Collateral or whether the same shall be then occupied as a homestead of any part thereof or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingmay, to the extent permitted by lawApplicable Law, by instrument in writing appoint any Person to be a receiver of the Collateral or of any part thereof and may remove any receiver so appointed by Agent and appoint another in that Person's stead. Any such receiver appointed by instrument in writing shall, to the extent permitted by Applicable Law, have all of the rights, remedies, benefits and powers of Agent under this Agreement or under the PPSA or otherwise and, without limiting the generality of the foregoing, any such receiver (or Agent) shall have the power to, to the full extent permitted by Applicable Law: (i) take possession of the Collateral or any part thereof; (ii) carry on or concur in carrying on all or any part or parts of the business of the Borrowers relating to the Collateral; (iii) file such proofs of claim and other documents as may be necessary or advisable in order to have such receiver's claim lodged in any bankruptcy, winding-up or other judicial proceedings relative to the Borrowers or Guarantors; (iv) borrow money required for the seizure, repossession, retaking, repair, insurance, maintenance, preservation, protection, collection, preparation for disposition, disposition or realization of the Collateral or any part thereof and for the enforcement of this Agreement or for the carrying on of the business of the Borrowers or Guarantors on the security of the Collateral in priority to the security interest created under this Agreement; and (v) sell, lease or otherwise dispose of, or concur in the sale, lease or other disposition of, the right whole or any part of the Collateral at public auction, by public tender or by private sale, lease or other disposition, either for cash or upon credit, at such time and upon such terms and conditions as the receiver may determine. Any such receiver shall for all purposes be deemed to lease be the agent of the Borrowers and Guarantors. Agent may from time to time fix a commercially reasonable remuneration of such receiver. Agent shall not in any way be responsible for any misconduct or negligence of any such receiver. Each Borrower hereby consents to the appointment of any such a receiver without bond, to the full extent permitted by Applicable Law. (b) Without limiting the generality of the foregoing, upon the occurrence and during the continuance of an Event of Default, with respect to any Collateral located in Canada, Agent is hereby specifically authorized to seek the appointment of a receiver or a receiver-manager under the laws of Canada or any Province thereof (a “Canadian Receiver”) upon or during the continuation of an Event of Default, to take possession of all or any portion of the Premises for a term that extends beyond Collateral or to operate same and, to the time maximum extent permitted by Applicable Law, may seek the appointment of such receiver’s a Canadian Receiver without the requirement of prior notice or a hearing. Any such Canadian Receiver shall, so far as concerns responsibility for his/her acts, be deemed agent of Borrowers and Guarantors and not Agent or the Lenders. Agent shall not incur any liability to the Canadian Receiver, the Borrowers or Guarantor or otherwise and shall not in any way be responsible for any misconduct or negligence of any such Canadian Receiver. Subject to the provisions of the instrument appointing him/her, to the extent by Applicable Law, any such Canadian Receiver shall have power to take possession without obtaining prior court approval of Collateral, to preserve Collateral or its value, to carry on or concur in carrying on all or any part of the business of the Borrowers and Guarantors and to sell, lease, license or otherwise dispose of or concur in selling, leasing, licensing or otherwise disposing of Collateral. To facilitate the foregoing powers, any such leaseCanadian Receiver may, to the exclusion of all others, including the Borrowers and Guarantors, to the extent permitted by Applicable Law, enter upon, use and occupy all premises owned or occupied by the Borrowers or Guarantors wherein Collateral may be situated, maintain Collateral upon such premises, borrow money on a secured or unsecured basis and use Collateral of the Borrowers and Guarantors directly in carrying on their business or as security for loans or advances to enable the Canadian Receiver to carry on the their business or otherwise, as such Canadian Receiver shall, in its discretion, determine. The court Except as may be otherwise directed by Agent, all money received from time to time may authorize by such Canadian Receiver in carrying out his/her appointment shall be received in trust for and paid over to Agent. Every such Canadian Receiver may, in the application discretion of Agent, be vested with all or any of the net income received rights and powers of Agent and Lenders. Agent may, either directly or through its nominees, exercise any or all powers and rights given to a Canadian Receiver by virtue of the receiver in payment foregoing provisions of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencySection.

Appears in 3 contracts

Samples: Revolving Credit, Term Loan, Guaranty, and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.)

Appointment of Receiver. Upon If an Event of Default shall have occurred and be continuing, in addition to all other rights, powers and remedies herein conferred or at any time after conferred by operation of law, Secured Party shall be entitled to the filing appointment of a complaint to foreclose this Mortgage, receiver of the court in which such complaint is filed Collateral without the necessity of the posting of a bond or notice; and shall, upon petition to the extent not prohibited by the Lenderapplicable law, appoint be entitled to such receiver as a receiver for the Premises in accordance with the applicable laws matter of the State of Arkansas. Such appointment may be made either before or after sale, without noticeright, without regard to the solvency or insolvency of Debtor, the Mortgagor at value or adequacy of the time Collateral or the Collateral being in danger of application for being materially injured or reduced in value as security by removal, destruction, deterioration, accumulation of prior liens or otherwise; and such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as by any court of competent jurisdiction upon ex parte application, and without notice, notice being expressly waived by Debtor to the extent such receiverwaiver is not prohibited by applicable law. Such Debtor does hereby consent to the appointment of such receiver or receivers, waives any and all defenses to such appointment, and agrees not to oppose any application therefor by Secured Party, and agrees that such appointment shall in no manner impair, prejudice or otherwise affect the rights of Secured Party under this Article V. Nothing herein is to be construed to deprive Secured Party of any other right, remedy or privilege it may now or hereafter have under law to have a receiver appointed. Any money advanced by Secured Party in connection with any such receivership shall be a demand obligation owing by Debtor to Secured Party and shall bear interest, from the date of making such advancement until paid, at the Default Rate. Any such receiver shall have power to collect all powers conferred by the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of court appointing such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other which powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingshall, to the extent permitted not prohibited by lawapplicable law include, without limitation, the right to lease enter upon and take immediate possession of the Collateral or any part thereof, to exclude Debtor therefrom, to hold, use, operate, manage and control such Collateral, to make all such repairs, replacements, alterations, additions and improvements to the same as such receiver or Secured Party may deem proper or expedient, to lease, sell or otherwise transfer the Collateral or any portion thereof as such receiver or Secured Party may deem proper or expedient, to sell all of the Premises for a term that extends beyond Hydrocarbons included in the time same subject to the provisions of such receiver’s possession without obtaining prior court approval of such lease. The court from time Article III hereof, to time may authorize the application demand and collect all of the other earnings, rents, issues, profits, proceeds and other sums due or to become due with respect to such Collateral, accounting for only the net income received earnings arising therefrom after charging against the receipts therefrom all fees, costs, expenses, charges, damages and losses incurred by reason thereof plus interest thereon at the Default Rate without any liability to Debtor in connection therewith which net earnings shall be turned over by such receiver in to Secured Party to be applied by Secured Party to the payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to Obligations in the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyorder set forth in Section 5.10.

Appears in 3 contracts

Samples: Mortgage, Security Agreement, Assignment of Production and Proceeds, Financing Statement and Fixture Filing (Recovery Energy, Inc.), Deed of Trust (Recovery Energy, Inc.), Deed of Trust (Recovery Energy, Inc.)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasAct. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 3 contracts

Samples: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (GK Investment Property Holdings II LLC), Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (GK Investment Property Holdings II LLC), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Cti Industries Corp)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Borrower does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 5.3 below. Such receivership shall, at the option of Lender, continue until full payment of all of the Debt or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Deed of Trust or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 3 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing (Campus Crest Communities, Inc.), Deed of Trust, Security Agreement and Fixture Filing (Campus Crest Communities, Inc.), Deed of Trust, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust, Inc.)

Appointment of Receiver. Upon Upon, or at any time after prior to or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the Obligations or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notObligations, and (iii) during Borrower hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed, provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Lender, continue until full payment of all of the Obligations or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Mortgage or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 3 contracts

Samples: Open End Mortgage, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp), Mortgage, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp), Security Agreement (Gladstone Commercial Corp)

Appointment of Receiver. Upon Trustor waives any right to any hearing or at any time after notice of hearing prior to the filing appointment of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver and its agents shall have power be empowered (a) to take possession of the Trust Property and any businesses conducted by Trustor or any other person (excluding the business of tenants of Trustor) thereon and any business assets used in connection therewith and, if the receiver deems it appropriate, to operate the same, (b) to exclude Trustor and Trustor's agents, servants, and employees from the Trust Property, (c) to collect the rents, issues issues, profits, and profits income therefrom, (d) to complete any construction which may be in progress, (e) to do such maintenance and make such repairs and alterations as the receiver deems reasonably necessary, (f) to use all stores of materials, supplies and maintenance equipment on the Premises Trust Property, (g) to pay all taxes and assessments against the Trust Property and all premiums for insurance thereon, (h) to pay all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance, and (i) during the pendency of such foreclosure suit, (ii) generally to do anything which Trustor could legally do if Trustor were in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseTrust Property. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver or his agents shall constitute a part of the Obligations, including without limitation reasonable attorneys' fees. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys' fees incurred by the receiver and by Beneficiary (including charges of in-house counsel), together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Obligations or in payment such other manner as the court may direct. Unless sooner terminated with the express consent of (a) Beneficiary, any such receivership will continue until the IndebtednessObligations have been discharged in full, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof or of such judgment or decree, provided such application is made prior to Trust Property has passed after foreclosure sale, and (b) any deficiency upon a sale and deficiencyall applicable periods of redemption have expired.

Appears in 3 contracts

Samples: Deed of Trust (Riviera Holdings Corp), Deed of Trust (Windsor Woodmont Black Hawk Resort Corp), Deed of Trust (Riviera Holdings Corp)

Appointment of Receiver. Upon Upon, or at any time after after, the filing of a complaint to foreclose (or partially foreclose) this Second Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasProperty. Such appointment may be made either before or after foreclosure sale, without notice, without regard to the solvency or insolvency of the Mortgagor insolvency, at the time of application for such receiver and receiver, of the person or persons, if any, liable for the payment of the Secured Indebtedness, without regard to the value of the Premises Property at such time and whether or whether not the same shall be then is occupied as a homestead or not homestead, and without bond being required of the Lender hereunder applicant. Mortgagee or any other holder employee of the Note Mortgagee thereof may be appointed as such receiver. Such receiver shall have all powers and duties prescribed by applicable law, including the power to collect the rentstake possession, issues control, and profits care of the Premises (i) Property and to collect all rents thereof during the pendency of such foreclosure suitsuit and, (ii) in case the event of a sale and a deficiency, where Mortgagor has not waived its statutory rights of redemption, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorMortgagor or its devisees, but legatees, heirs, executors, administrators, legal representatives, successors, or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time time, either before or after entry of judgment of foreclosure, may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Second Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any the deficiency upon in case of a sale and deficiency.

Appears in 3 contracts

Samples: Open End Correction Second Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Playtex Sales & Services Inc), Correction Second Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Playtex Sales & Services Inc), Open End Correction Second Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Playtex Sales & Services Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Mortgaged Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value adequacy of the Premises Mortgaged Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Mortgagor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Mortgagor does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Mortgagee, but for nothing herein is to be construed to deprive Mortgagee of any other right, remedy or privilege Mortgagee may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Mortgagee to collect receive payment of the Rents pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Mortgaged Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Mortgagee, continue until full payment of all of the Debt or until title to the extent permitted Mortgaged Property shall have passed by law, the right to lease all foreclosure sale under this Mortgage or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 3 contracts

Samples: Mortgage and Security Agreement (First Union Real Estate Equity & Mortgage Investments), Mortgage and Security Agreement (One Price Clothing Stores Inc), Open End Mortgage and Security Agreement (Glimcher Realty Trust)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Trust Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Grantor and without regard to the value adequacy of the Premises Trust Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Grantor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Grantor does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Beneficiary, but for nothing herein is to be construed to deprive Beneficiary of any other right, remedy or privilege Beneficiary may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Beneficiary to collect receive payment of the Rents pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Trust Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Beneficiary, continue until full payment of all of the Debt or until title to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior Trust Property subject to foreclosure sale, and (b) any deficiency upon a shall have passed by foreclosure sale and deficiencyunder this Deed of Trust or deed in lieu of foreclosure.

Appears in 3 contracts

Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc), Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc), Deed of Trust, Security Agreement and Ucc Fixture Filing (Apple Suites Inc)

Appointment of Receiver. Upon If an Event of Default shall have occurred and be continuing, in addition to all other rights, powers and remedies herein conferred or at any time after conferred by operation of law, Secured Party shall be entitled to the filing appointment of a complaint to foreclose this Mortgage, receiver of the court in which such complaint is filed Collateral without the necessity of the posting of a bond or notice; and shall, upon petition to the extent not prohibited by the Lenderapplicable law, appoint be entitled to such receiver as a receiver for the Premises in accordance with the applicable laws matter of the State of Arkansas. Such appointment may be made either before or after sale, without noticeright, without regard to the solvency or insolvency of Debtor, the Mortgagor at value or adequacy of the time Collateral or the Collateral being in danger of application for being materially injured or reduced in value as security by removal, destruction, deterioration, accumulation of prior liens or otherwise; and such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as by any court of competent jurisdiction upon ex parte application, and without notice, notice being expressly waived by Debtor to the extent such receiverwaiver is not prohibited by applicable law. Such Debtor does hereby consent to the appointment of such receiver or receivers, waives any and all defenses to such appointment, and agrees not to oppose any application therefor by Secured Party, and agrees that such appointment shall in no manner impair, prejudice or otherwise affect the rights of Secured Party under this ARTICLE V. Nothing herein is to be construed to deprive Secured Party of any other right, remedy or privilege it may now or hereafter have under law to have a receiver appointed. Any money advanced by Secured Party in connection with any such receivership shall be a demand obligation owing by Debtor to Secured Party and shall bear interest, from the date of making such advancement until paid, at the Default Rate. Any such receiver shall have power to collect all powers conferred by the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of court appointing such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other which powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingshall, to the extent permitted not prohibited by lawapplicable law include, the right to lease enter upon and take immediate possession of the Collateral or any part thereof, to exclude Debtor therefrom, to hold, use, operate, manage and control such Collateral, to make all such repairs, replacements, alterations, additions and improvements to the same as such receiver or Secured Party may deem proper or expedient, to lease, sell or otherwise transfer the Collateral or any portion thereof as such receiver or Secured Party may deem proper or expedient, to sell all of the Premises for a term that extends beyond Hydrocarbons included in the time same subject to the provisions of such receiver’s possession without obtaining prior court approval of such lease. The court from time ARTICLE III hereof, to time may authorize the application demand and collect all of the other earnings, rents, issues, profits, proceeds and other sums due or to become due with respect to such Collateral, accounting for only the net income received earnings arising therefrom after charging against the receipts therefrom all fees, costs, expenses, charges, damages and losses incurred by reason thereof plus interest thereon at the Default Rate without any liability to Debtor in connection therewith which net earnings shall be turned over by such receiver in to Secured Party to be applied by Secured Party to the payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to Obligations in the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyorder set forth in Section 5.10.

Appears in 3 contracts

Samples: Mortgage, Security Agreement, Assignment of Production and Proceeds, Financing Statement and Fixture Filing (Lilis Energy, Inc.), Mortgage, Security Agreement, Assignment of Production and Proceeds, Financing Statement and Fixture Filing (Recovery Energy, Inc.), Mortgage, Security Agreement, Assignment of Production and Proceeds, Financing Statement and Fixture Filing (Recovery Energy, Inc.)

Appointment of Receiver. Upon or at any time after the filing occurrence and during the continuance of a complaint an Event of Default, subject to foreclose this Mortgagethe terms of each applicable Intercreditor Agreement, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Grantee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver additional notice and without regard to the value adequacy of any security for the Premises or Obligations secured hereby, whether the same shall then be then occupied as a homestead or not not, or the solvency of any party bound for its payment, to make application for the appointment of a receiver to take possession of and to operate the Lender hereunder or any other holder Premises, and to collect the rents, issues, profits, and income thereof, all expenses of which shall be added to the Note may be appointed as such receiverObligations and secured hereby. Such The receiver shall have all the rights and powers provided for under the laws of the state in which the Premises are located, including without limitation, the power to execute leases, and the power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorGrantor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Mortgage. Notwithstanding the appointment of any receiver, trustee or other custodian, subject to each applicable Intercreditor Agreement, the Grantee shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Mortgage to the Grantee to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 3 contracts

Samples: Second Lien Credit Agreement (Atkore International Group Inc.), First Lien Credit Agreement (Atkore International Group Inc.), Collateral Agreement (Unistrut International Holdings, LLC)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Mortgaged Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value adequacy of the Premises Mortgaged Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Mortgagor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Mortgagor does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Mortgagee, but for nothing herein is to be construed to deprive Mortgagee of any other right, remedy or privilege Mortgagee may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Mortgagee to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Mortgaged Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 15.3 below. Such receivership shall, at the option of Mortgagee, continue until full payment of all of the Debt or until title to the extent permitted Mortgaged Property shall have passed by law, the right to lease all foreclosure sale under this Mortgage or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Mortgage Consolidation and Modification Agreement (American Realty Capital New York Recovery Reit Inc), Mortgage and Security Agreement (American Realty Capital New York Recovery Reit Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder Mortgagee or any other holder of the a Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 2 contracts

Samples: Open End Revolving Mortgage (Grubb & Ellis Healthcare REIT, Inc.), Open End Fee and Leasehold Revolving Mortgage (Grubb & Ellis Healthcare REIT, Inc.)

Appointment of Receiver. Upon or at (a) At any time after the filing security constituted hereby has become enforceable or if requested by the Chargors the Security Trustee may by deed appoint such person or persons (including an officer or officers of a complaint the Security Trustee) as it thinks fit to foreclose this Mortgagebe the Receiver or Receivers of the Collateral or any part thereof. (b) The Security Trustee may by deed remove the Receiver and appoint another in his place, and the Security Trustee may also appoint another receiver if the Receiver resigns. (c) Subject to the provisions of the Companies Act Cap 50, the court in which such complaint is filed exclusion of any part of the Collateral from the appointment of the Receiver shall not preclude the Security Trustee from subsequently extending his appointment (or that of the Receiver replacing him) to that part. (d) The Receiver shall, upon petition so far as the law permits, be the agent of each of the Chargor; and (subject to the Companies Act, Chapter 50) the Chargor shall be [Singapore Group Debenture] solely responsible for his acts and defaults (except for his wilful misconduct, wilful default and negligence) and liable on any contracts or engagements made or entered into by him; and in no circumstances whatsoever shall the Security Trustee be in any way responsible for any misconduct, or default of the Receiver. (e) The remuneration of the Receiver may be fixed by the LenderSecurity Trustee, appoint a receiver for but such remuneration shall be payable by the Premises Chargor alone; provided that any remuneration so fixed by the Security Trustee shall in the reasonable opinion of the Security Trustee be appropriate to the work and responsibilities involved upon the basis of charging from time to time adopted in accordance with the applicable laws Receiver's current practice or the current practice of his industry and the amount of such remuneration may be debited by the Security Trustee to any account of the State of Arkansas. Such appointment may be made either before or after saleChargor, without noticebut shall, without regard to the solvency or insolvency in any event, form part of the Mortgagor at Secured Obligations and accordingly be secured on the time of application for such receiver and without regard to Collateral under the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) charges contained in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyDeed.

Appears in 2 contracts

Samples: Debenture (China Netcom Group CORP (Hong Kong) LTD), Debenture (China Netcom Group CORP (Hong Kong) LTD)

Appointment of Receiver. Upon or at any time after the filing occurrence of a complaint to foreclose an Event of Default under this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after saleMortgagee, without noticenotice to Mortgagor, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises Collateral or whether the interest of Mortgagor in it, shall have the right to enter the Land in person or to apply to any court having jurisdiction to appoint a receiver or receivers of the Land, Fixtures or Improvements. Mortgagor irrevocably consents to such appointment and waives notice of any such application. The actions that Mortgagee or such receiver may take in connection with such entry may include, but are not limited to (a) modifying, compromising obligations under, terminating and implementing remedies with respect to any assigned leases or subleases, and (b) entering into, modifying or terminating any contractual arrangements, subject to Mortgagee's right at any time to discontinue any of the same shall be then occupied as without liability. Mortgagee is further authorized by this provision to request the court to appoint a homestead or not general receiver and to empower the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption sell or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond Land, Fixtures or Improvements, (ii) collect and apply to the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application outstanding balances of the net income received by the receiver in payment of (a) the IndebtednessSecured Obligations all sales or lease proceeds, or any amount found due hold the proceeds pending a court order approving the receiver's final report and account, and (iii) hold the collections as cash collateral pending such court order or secured by any judgment or decree foreclosing foreclosure sale. Any such receiver(s) shall also have all the usual powers and duties of receivers in similar cases and all the powers and duties of Mortgagee in case of entry as provided in this Mortgage, and shall continue to exercise all such powers until the date of confirmation of sale of the Land, Fixtures or Improvements, unless such receivership is sooner terminated. If Mortgagee elects to enter or take possession of the Land, Fixtures or Improvements, it will not assume any liability to Mortgagor or any taxother person for operation or maintenance of the Land, special assessment Fixtures or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure saleImprovements, and (b) Mortgagor expressly waives any deficiency upon a sale and deficiencysuch Mortgagee liability.

Appears in 2 contracts

Samples: Mortgage, Financing Statement and Fixture Filing (Pope Resources LTD Partnership), Mortgage, Financing Statement, and Security Agreement (Pope Resources LTD Partnership)

Appointment of Receiver. Upon or at (a) At any time after the filing security constituted hereby has become enforceable or if requested by the Chargor the Security Trustee may by deed appoint such person or persons (including an officer or officers of a complaint the Security Trustee) as it thinks fit to foreclose this Mortgagebe the Receiver or Receivers of the Collateral or any part thereof. [Asia Netcom Corporation Debenture] (b) The Security Trustee may by deed remove the Receiver and appoint another in his place, and the court in which such complaint is filed Security Trustee may also appoint another receiver if the Receiver resigns. (c) The exclusion of any part of the Collateral from the appointment of the Receiver shall not preclude the Security Trustee from subsequently extending his appointment (or that of the Receiver replacing him) to that part. (d) The Receiver shall, upon petition so far as the law permits, be the agent of each of the Chargor; and the Chargor shall be solely responsible for his acts and defaults (except for his wilful misconduct, wilful default and negligence) and liable on any contracts or engagements made or entered into by him; and in no circumstances whatsoever shall the Security Trustee be in any way responsible for any misconduct, or default of the Receiver. (e) The remuneration of the Receiver may be fixed by the LenderSecurity Trustee, appoint a receiver for but such remuneration shall be payable by the Premises Chargor alone; provided that any remuneration so fixed by the Security Trustee shall in the reasonable opinion of the Security Trustee be appropriate to the work and responsibilities involved upon the basis of charging from time to time adopted in accordance with the applicable laws Receiver's current practice or the current practice of his industry and the amount of such remuneration may be debited by the Security Trustee to any account of the State of Arkansas. Such appointment may be made either before or after saleChargor, without noticebut shall, without regard to the solvency or insolvency in any event, form part of the Mortgagor at Secured Obligations and accordingly be secured on the time of application for such receiver and without regard to Collateral under the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) charges contained in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyDeed.

Appears in 2 contracts

Samples: Debenture (China Netcom Group CORP (Hong Kong) LTD), Debenture (China Netcom Group CORP (Hong Kong) LTD)

Appointment of Receiver. (a) Upon or at any time after the filing of a complaint to foreclose enforce this MortgageDeed of Trust or any of the other Loan Documents, the court in which such complaint is filed shall, upon petition by the LenderBeneficiary, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Trustor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Beneficiary hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the MortgagorTrustor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this MortgageDeed of Trust, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency. (b) In the event an interest in any of the Premises is foreclosed upon pursuant to a judicial or nonjudicial foreclosure sale, Trustor agrees as follows: notwithstanding the provisions of Sections 51.003, 51.004, and 51.005 of the Act (as the same may be amended from time to time), and to the extent permitted by law, Trustor agrees that Beneficiary shall be entitled to seek a deficiency judgment from Borrower and any other party obligated on the Notes equal to the difference between the amount owing on the Notes and the amount for which the Premises was sold pursuant to judicial or nonjudicial foreclosure sale. Trustor expressly recognizes that this section constitutes a waiver of the above-cited provisions of the Act which would otherwise permit Borrower and other persons against whom recovery of deficiencies is sought or Guarantor independently (even absent the initiation of deficiency proceedings against them) to present competent evidence of the fair market value of the Premises as of the date of the foreclosure sale and offset against any deficiency the amount by which the foreclosure sale price is determined to be less than such fair market value. Trustor further recognizes and agrees that this waiver creates an irrebuttable presumption that the foreclosure sale price is equal to the fair market value of the Premises for purposes of calculating deficiencies owed by Xxxxxxxx, Guarantor, and others against whom recovery of a deficiency is sought. (c) Alternatively, in the event the waiver provided for in subsection (b) above is determined by a court of competent jurisdiction to be unenforceable, the following shall be the basis for the finder of fact’s determination of the fair market value of the Premises as of the date of the foreclosure sale in proceedings governed by Sections 51.003, 51.004 and 51.005 of the Act (as amended from time to time): (i) the Premises shall be valued in an “as is” condition as of the date of the foreclosure sale, without any assumption or expectation that the Premises will be repaired or improved in any manner before a resale of the Premises after foreclosure; (ii) the valuation shall be based upon an assumption that the foreclosure purchaser desires a resale of the Premises for cash promptly (but no later than twelve [12] months) following the foreclosure sale; (iii) all reasonable closing costs customarily borne by the seller in commercial real estate transactions should be deducted from the gross fair market value of the Premises, including, without limitation, brokerage commissions, title insurance, a survey of the Premises, tax prorations, attorneys’ fees, and marketing costs; (iv) the gross fair market value of the Premises shall be further discounted to account for any estimated holding costs associated with maintaining the Premises pending sale, including, without limitation, utilities expenses, property management fees, taxes and assessments (to the extent not accounted for in (iii) above), and other maintenance, operational and ownership expenses; and (v) any expert opinion testimony given or considered in connection with a determination of the fair market value of the Premises must be given by persons having at least five (5) years experience in appraising property similar to the Premises and who have conducted and prepared a complete written appraisal of the Premises taking into consideration the factors set forth above.

Appears in 2 contracts

Samples: Commercial Deed of Trust (NNN Healthcare/Office REIT, Inc.), Commercial Deed of Trust (Grubb & Ellis Healthcare REIT, Inc.)

Appointment of Receiver. Upon The Trustee, to the greatest extent permitted by applicable law, may with or at any time after the filing of a complaint to foreclose this Mortgagewithout taking possession, the court in which such complaint is filed shall, upon petition by instrument executed by the LenderTrustee, appoint a receiver for the Premises in accordance with the applicable laws Receiver of all or any part of the State Charged property and of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues income and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale therefrom and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize by similar instrument remove any Receiver and appoint another in its place and upon the application appointment of any such Receiver or Receivers from time to time the following provisions, to the greatest extent permitted by applicable law, shall apply: 14.12.1 every such Receiver shall be vested with all of the net income received by rights, powers, remedies and discretions of the receiver Trustee set forth in payment paragraphs 14.3.1.1 to 14.3.1.8, inclusively, including, without limitation, the power to sell, for cash or credit or part cash and part credit, lease or dispose of (a) the Indebtedness, all or any amount found due part of the Charged property, whether by public auction or secured by any judgment private sale or decree foreclosing lease in such manner and on such terms as it may determine in its absolute discretion acting reasonably and to do all acts, exercise all discretions and make all determinations of the Trustee described therein; 14.12.2 every such Receiver shall have the power to borrow money on the security of the Charged property in priority to the security created by this MortgageDeed for the purpose of the preservation, maintenance, completion or protection of the Charged property or any taxpart thereof or for making any replacements thereof or improvements and additions thereto or for carrying on all or any part of the business of the Grantor relating to the Charged property, special assessment or other lien and in so doing the Receiver may issue certificates designated as "Receiver's Certificates" which may be payable either to order or become superior to bearer and may be payable at such time or times as the Receiver may think expedient and shall bear interest at such rates of interest as the Receiver may consider reasonable, and the amounts from time to time payable pursuant to such Receiver's Certificates shall form a charge upon the Charged property in priority to the lien hereof security created by this Deed; 14.12.3 the Trustee may from time to time fix the remuneration of every such Receiver who shall be entitled to deduct the same out of the receipts derived from or comprising part of the Charged property or the proceeds thereof; 14.12.4 every such judgment Receiver shall be deemed to be an agent of the Grantor and not of the Trustee for the purposes of: (i) carrying on and managing the business and affairs of the Grantor, and (ii) establishing liability for all of the acts or decreeomissions of the Receiver while acting as such and the Trustee shall not be in any way responsible for any acts or omissions on the part of any such Receiver, its officers, employees and agents, the Grantor hereby irrevocably authorizing the Trustee to give instructions to the Receiver relating to the performance of its powers and discretions as set out herein; 14.12.5 the appointment of every such Receiver by the Trustee or anything which may be done by any such Receiver or the removal of any such Receiver or the termination of any such receivership shall not have the effect of constituting the Trustee a mortgagee in possession in respect of the Charged property or any part thereof; 14.12.6 no such Receiver shall be liable to the Grantor to account for moneys other than moneys actually received by such Receiver in respect of the Charged property and every such Receiver shall apply such moneys so received in the manner provided in paragraph 14.13; and 14.12.7 the Trustee may at any time and from time to time terminate any such application is made prior receivership by notice in writing executed by the Trustee to foreclosure sale, and (b) any deficiency upon a sale and deficiency.such Receiver;

Appears in 2 contracts

Samples: Deed of Hypothec (SLM International Inc /De), Deed of Hypothec (SLM International Inc /De)

Appointment of Receiver. Upon In addition to Mortgagee's right to take possession of and operate the Property, as set forth above, either in lieu of Mortgagee taking the above set forth actions, or before taking such action and not in lieu of Mortgagee ultimately taking such actions, or after Mortgagee has already proceeded under the terms and provisions of Paragraph 2.03 hereof, Mortgagee shall be entitled to the appointment of a receiver, in accordance with the following terms and provisions: (a) If at any time, in the discretion of Mortgagee, a receivership may be necessary to protect the Mortgaged Property or the security of Mortgagee, whether before or after maturity of the Note and any other indebtedness secured by this Mortgage, or at any the time of or after the filing institution of a complaint suit to collect the Note and any other indebtedness secured by this Mortgage or to enforce and/or foreclose this Mortgage, the court in which such complaint is filed Mortgagee shall, upon petition by the Lender, appoint as a receiver for the Premises in accordance with the applicable laws matter of the State strict right and regardless of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether security for the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or secured hereby or of the solvency of any other holder party bound for the payment of the Note may be appointed as such receiver. Such and any other indebtedness secured hereunder, have the right to the appointment, on ex parte application and without notice to Mortgagor, by any court having jurisdiction, of a receiver shall have power to take charge of, manage, preserve, protect and operate the Property and any business or businesses located thereon, to collect the rents, issues issues, proceeds, profits and profits income thereon, to make all necessary and needed repairs, to complete the construction of any improvements which has been undertaken but not completed, and to pay all taxes and assessments against the Mortgaged Property and insurance premiums for insurance thereon and after the payment of the Premises (i) during expenses of the pendency receivership, including reasonable attorney's fees to Mortgagee's attorney, and after compensation for management of the Mortgaged Property, to apply the net proceeds in reduction of all indebtedness hereby secured or in such foreclosure suit, (ii) in case manner as the court shall direct. All such expenses shall be secured by the lien of this Mortgage until paid. Mortgagor hereby specifically waives the right to object to the appointment of a sale receiver and hereby expressly consents that such appointment shall be made as an admitted equity and as a deficiency, during the full statutory period matter of redemption, whether there be redemption absolute right of Mortgagee. (b) The receiver or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would its agents shall be entitled to collect such rents, issues enter upon and profits. Such receiver also shall have take possession of any and all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said periodMortgaged Property, includingtogether with any and all businesses conducted thereon and all business assets used therewith or thereon, or any part or parts thereof, and to operate and conduct the business or businesses, or complete construction of improvements, to the same extent permitted by lawand in the same manner as Mortgagor might lawfully do. The receiver, personally or through its agents or attorneys, may exclude Mortgagor and its subsidiaries, agents, servants and employees wholly from the Mortgaged Property, and have, hold, use, operate, manage and control the same and each and every part thereof, and in the name of Mortgagor, its subsidiaries, or agents, exercise all of their rights and powers and use all of the then existing items of security and collateral, materials, current supplies, stores and assets and, at the expense of Mortgagor, maintain, restore, complete construction of, insure and keep insured, the right to lease properties, equipment, and apparatus provided or required for use in connection with such business or businesses, and make all or any portion such necessary and proper repairs, renewals and replacements and all such useful alterations, additions, betterments and improvements as the receiver may deem judicious. (c) Such receivership shall, at the option of Mortgagee, continue until full payment of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the IndebtednessNote and all other sums hereby secured, or any amount found due or secured until title to the Property shall have passed by any judgment or decree foreclosing foreclosure sale under this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 2 contracts

Samples: Third Mortgage Deed and Security Agreement (AGU Entertainment Corp.), Mortgage Deed and Security Agreement (AGU Entertainment Corp.)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of a complaint to foreclose this Mortgageany power of sale, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws instituting any judicial foreclosure or instituting any other foreclosure of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application liens and security interests provided for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder herein or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includinglegal proceedings hereunder, to the extent permitted by law, the right make application to lease a court of competent jurisdiction for appointment of a receiver for all or any portion part of the Premises Property, as a matter of strict right and without notice to Borrower and without regard to the adequacy of the Property for the repayment of the Debt or the solvency of Borrower or any person or persons liable for the payment of the Debt, and Borrower does hereby irrevocably consent to such appointment, waive any and all notices of and defenses to such appointment and agree not to oppose any application therefor by Lender, but nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the law to have a term receiver appointed, provided, however, that extends beyond the time appointment of such receiver’s possession without obtaining prior , trustee or other appointee by virtue of any court approval order, statute or regulation shall not impair or in any manner prejudice the rights of such lease. The court from time Lender to time may authorize the application receive payment of the net income received by Rents and Profits pursuant to other terms and provisions hereof. Any such receiver shall have all of the usual powers and duties of receivers in similar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 5.3 below. Such receivership shall, at the option of Lender, continue until full payment of (a) all of the Indebtedness, Debt or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof Property shall have passed by foreclosure sale under this Deed of Trust or deed in lieu of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Deed of Trust (NNN Apartment REIT, Inc.), Deed of Trust, Security Agreement and Fixture Filing (NNN Healthcare/Office REIT, Inc.)

Appointment of Receiver. Upon or at In conjunction with any time after the filing foreclosure of a complaint to foreclose this Mortgage, Bank shall be entitled to seek the court in which such complaint is filed shall, upon petition by the Lender, appoint appointment of a receiver for the Premises Property in accordance with the applicable laws of the State of Arkansaslaw. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender Bank hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises Property (i) during the pendency of such foreclosure suitforeclosure, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises Property for a term that extends beyond the time of such receiver’s 's possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this MortgageObligations, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 2 contracts

Samples: Open End Mortgage (Sun Communities Inc), Commercial Mortgage (Sun Communities Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose (or partially foreclose) this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasProperty. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Borrower at the time of application for such receiver and without regard to the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises Property (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the MortgagorBorrower, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises Property for a term that extends beyond the time of such receiver’s 's possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 2 contracts

Samples: Loan Agreement (Jameson Inns Inc), Mortgage, Security Agreement and Fixture Filing (Standard Management Corp)

Appointment of Receiver. Upon Upon, or at any time after after, the filing of a complaint to foreclose (or partially foreclose) this Leasehold Mortgage, the court in which such complaint is filed shall, upon petition by the LenderLeasehold Mortgagee, appoint a receiver for the Premises in accordance with Property; which receiver shall be bound by the applicable laws of Property Lease and the State of ArkansasAgreement Regarding Lease. Such appointment may be made either before or after any foreclosure sale, without notice, without regard to the solvency or insolvency of the Mortgagor insolvency, at the time of application for such receiver and receiver, of the person or persons, if any, liable for the payment of the Secured Indebtedness, without regard to the value of the Premises Property at such time and whether or whether not the same shall be then is occupied as a homestead or not homestead, and without bond being required of the Lender hereunder applicant. Leasehold Mortgagee or any other holder employee of the Note Leasehold Mortgagee thereof may be appointed as such receiver. Such receiver shall have all powers and duties prescribed by applicable law, including the power to collect the rentstake possession, issues control, and profits care of the Premises (i) Property and to collect all rents thereof during the pendency of such foreclosure suitsuit and, (ii) in case the event of a sale and a deficiency, where Leasehold Mortgagor has not waived its statutory rights of redemption, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorLeasehold Mortgagor or its devisees, but legatees, heirs, executors, administrators, legal representatives, successors, or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time time, either before or after entry of judgment of foreclosure, may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Leasehold Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to any foreclosure sale, and (b) any the deficiency upon in case of a sale and deficiency.

Appears in 2 contracts

Samples: Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Greenville Tube CO), Leasehold Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Trustor and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Trustor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Trustor does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Beneficiary, but for nothing herein is to be construed to deprive Beneficiary of any other right, remedy or privilege Beneficiary may now have under the intervention law to have a receiver appointed, provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Beneficiary to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, market, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Beneficiary, continue until full payment of all of the indebtedness secured hereby or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Instrument or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Deed of Trust, Deed of Trust With Assignment of Rents (E Trade Group Inc)

Appointment of Receiver. Upon or at any time after the filing occurrence and during the continuance of a complaint an Event of Default, subject to foreclose this Mortgagethe terms of the Intercreditor Agreement, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver additional notice and without regard to the value adequacy of any security for the Premises or Obligations secured hereby, whether the same shall then be then occupied as a homestead or not not, or the solvency of any party bound for its payment, to make application for the appointment of a receiver to take possession of and to operate the Lender hereunder or any other holder Premises, and to collect the rents, issues, profits, and income thereof, all expenses of which shall be added to the Note may be appointed as such receiverObligations and secured hereby. Such The receiver shall have all the rights and powers provided for under the laws of the state in which the Premises are located, including without limitation, the power to execute leases, and the power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Mortgage. Notwithstanding the appointment of any receiver, trustee or other custodian, subject to the Intercreditor Agreements, the Mortgagee shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Mortgage to the Mortgagee to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 2 contracts

Samples: Collateral Agreement (Hd Supply, Inc.), Collateral Agreement (Hd Supply, Inc.)

Appointment of Receiver. Upon or at any time after the filing Beneficiary shall be entitled, as a matter of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver right and without regard to the value of any security for the Premises or whether the same shall be then occupied as a homestead or not and the Lender indebtedness secured hereunder or by any other holder of the Note may be appointed as such other Security Documents, or the solvency of any person or entity liable therefor, to the appointment of a receiver for the Property upon ex parte application to any court of competent jurisdiction, or otherwise. Grantor freely and knowingly waives any right to any hearing or notice of hearing prior to the appointment of a receiver. Such receiver and his/her agents shall have power be empowered: (a) to take possession of the Property and any and all assets used in connection therewith; (b) to exclude Grantor and Grantor's agents, servants, and employees from the Property; (c) to collect the rents, issues issues, profits, and profits income therefrom; (d) to operate the Property and complete any construction which may be in progress; (e) to do such maintenance and make such repairs and alterations as the receiver deems necessary; (f) to use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the Premises receivership estate; (ig) during to pay all taxes and assessments against the pendency of such foreclosure suitProperty, (ii) in case of a sale all premiums for insurance thereon, all utility and a deficiency, during the full statutory period of redemption, whether there be redemption or notother operating expenses, and all sums due under any prior or subsequent encumbrance; and (iiih) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual generally do anything which Grantor could legally do if Grantor were in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseProperty. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver in payment or his/her agents shall constitute a part of (a) the Indebtedness, indebtedness secured hereunder or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or of the other lien which may Security Documents. Any revenues collected by the receiver shall be or become superior applied first to the lien hereof expenses of the receivership, including attorneys' fees incurred by the receiver and by Beneficiary, together with interest thereon at the Default Rate (as defined in the Note) from the date first paid or of such judgment or decree, provided such application is made prior to foreclosure saleincurred until repaid, and (b) the balance shall be applied toward the indebtedness secured hereunder or by any deficiency upon a of the other Security Documents or in such other manner as the receivership court may direct. Unless sooner terminated with the express consent of Beneficiary, any such receivership shall continue until the indebtedness secured hereunder or by any of the other Security Documents has been discharged in full or until title to the Property has passed after foreclosure sale and deficiencyall applicable periods of redemption have expired.

Appears in 2 contracts

Samples: Deed of Trust, Assignment of Rents and Security Agreement (St Mary Land & Exploration Co), Deed of Trust, Assignment of Rents and Security Agreement (St Mary Land & Exploration Co)

Appointment of Receiver. Upon Upon, or at any time after prior to or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the Obligations or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notObligations, and (iii) during Bxxxxxxx hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Lxxxxx, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed, provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Lender, continue until full payment of all of the Obligations or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Deed of Trust or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Deed of Trust, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Gladstone Commercial Corp)

Appointment of Receiver. Upon or at any time after Following the filing occurrence, and during the continuance, of a complaint to foreclose this Mortgagean Event of Default, the court in which such complaint is filed Beneficiary shall, upon petition by the Lender, appoint as a receiver for the Premises in accordance with the applicable laws matter of the State of Arkansas. Such appointment may be made either before or after saleright, without noticenotice and without giving bond to Beneficiary or anyone claiming by, under or through it, and without regard to the solvency or insolvency of Mortgagor or the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises or whether Property, be entitled to have a receiver appointed pursuant to the same shall be then occupied as a homestead or not and the Lender hereunder Act of all or any other holder part of the Note may be appointed as such receiver. Such receiver shall have power to collect Property and the rents, issues and profits thereof, with such power as the court making such appointment shall confer (including, but not limited to, the rights of a receiver pursuant to Minn. Stat. Ch. 576), and Mortgagor hereby consents to the Premises (i) during the pendency appointment of such foreclosure suit, (ii) in case of a sale receiver and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during shall not oppose any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect appointment. Any such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingmay, to the extent permitted by under applicable law, without notice, enter upon and take possession of the right to lease all Property or any portion part thereof by summary proceedings, ejectment or otherwise, and may remove Mortgagor or other persons and any and all property therefrom, and may hold, operate and manage the same and receive all earnings, income, rents, issues and proceeds accruing with respect thereto or any part thereof, whether during the pendency of any foreclosure or until any right of redemption shall expire or otherwise, and perform the terms of this Mortgage and apply the rents, issues and profits to the payment of the Premises expenses enumerated in Minn. Stat. Ch. 576 in the priority mentioned therein and to all expenses for maintenance of the Property and to the costs and expenses of the receivership, including attorney’s fees, to the repayment of the indebtedness secured hereby and as further provided in any assignment of leases and rents executed by the Mortgagor to Beneficiary whether contained in this Mortgage or in a term that extends beyond the time of separate instrument. Mortgagor does hereby irrevocably consent to such receiver’s possession without obtaining prior court approval of such leaseappointment. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or purchaser at any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, including Beneficiary, shall have the right, at any time and (b) without limitation as provided in Minn. Stat. § 582.03, to advance the money to any deficiency upon receiver appointed hereunder to pay any part or all of the items which the receiver would otherwise be authorized to pay if cash were available from the Property and the sum so advanced, with interest at the rate then in effect under the terms of the Note, shall be a sale and deficiencypart of the sum required to be paid to redeem from any foreclosure sale.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust III, Inc.)

Appointment of Receiver. Upon or at (a) At any time after the filing security constituted hereby has become enforceable or if requested by the Chargors the Security Trustee may by deed appoint such person or persons (including an officer or officers of a complaint the Security Trustee) as it thinks fit [Hong Kong Group Debenture] to foreclose this Mortgagebe the Receiver or Receivers of the Collateral or any part thereof. (b) The Security Trustee may by deed remove the Receiver and appoint another in his place, and the court in which such complaint is filed Security Trustee may also appoint another receiver if the Receiver resigns. (c) The exclusion of any part of the Collateral from the appointment of the Receiver shall not preclude the Security Trustee from subsequently extending his appointment (or that of the Receiver replacing him) to that part. (d) The Receiver shall, upon petition so far as the law permits, be the agent of each of the Chargor; and the Chargor shall be solely responsible for his acts and defaults (except for his wilful misconduct, wilful default and negligence) and liable on any contracts or engagements made or entered into by him; and in no circumstances whatsoever shall the Security Trustee be in any way responsible for any misconduct, or default of the Receiver. (e) The remuneration of the Receiver may be fixed by the LenderSecurity Trustee, appoint a receiver for but such remuneration shall be payable by the Premises Chargor alone; provided that any remuneration so fixed by the Security Trustee shall in the reasonable opinion of the Security Trustee be appropriate to the work and responsibilities involved upon the basis of charging from time to time adopted in accordance with the applicable laws Receiver's current practice or the current practice of his industry and the amount of such remuneration may be debited by the Security Trustee to any account of the State of Arkansas. Such appointment may be made either before or after saleChargor, without noticebut shall, without regard to the solvency or insolvency in any event, form part of the Mortgagor at Secured Obligations and accordingly be secured on the time of application for such receiver and without regard to Collateral under the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) charges contained in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyDeed.

Appears in 2 contracts

Samples: Debenture (China Netcom Group CORP (Hong Kong) LTD), Debenture (China Netcom Group CORP (Hong Kong) LTD)

Appointment of Receiver. Upon or at any time after If an Event of Default has occurred and is continuing, to the filing of a complaint to foreclose this Mortgagefull extent permitted by law, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without noticeMortgagee, without regard to the solvency value, adequacy or insolvency occupancy of the Mortgagor at Property as security for the time Secured Indebtedness, shall be entitled as a matter of application for such receiver and without regard right if it so elects to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case appointment of a sale and a deficiencyreceiver (“Receiver”), during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingeither ex parte, to the extent permitted by applicable law, or upon prior notice to Mortgagor, to enter upon and take possession of the Property, and to collect and apply the Rents in the manner it deems appropriate or as the court otherwise may direct. Any such Receiver shall have all the usual powers and duties of receivers in similar cases. This Mortgage shall secure the expenses, including without limitation Receiver’s fees, attorney’s fees, costs and agent’s compensation, which are incurred pursuant to the powers herein contained. The right to lease all enter, take possession of, manage and operate the Property, and collect the Rents, whether by Receiver or otherwise, shall be cumulative to any other right or remedy and may be exercised concurrently therewith or independently thereof. Mortgagee or Receiver, as the case may be, shall be liable to account only for such rents, income and other benefits actually received by Mortgagee or Receiver. Notwithstanding the appointment of Receiver or any portion other custodian, Mortgagee shall be entitled as pledgee to the possession and control of the Premises for a term that extends beyond any cash, deposits or instruments at the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtednessheld by, or any amount found due payable or secured by any judgment or decree foreclosing deliverable under the terms of this MortgageMortgage to, or any tax, special assessment or other lien which may be or become superior to Mortgagee and/or the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLenders.

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Akorn Inc), Mortgage, Security Agreement, Assignment of Leases and Rents, Financing Statement and Fixture Filing (Akorn Inc)

Appointment of Receiver. Upon In addition to all other remedies herein provided for, Grantor agrees that upon the occurrence of an Event of Default hereunder or at under the Note, under this Deed of Trust or under any time after of the filing of a complaint to foreclose this Mortgageother Loan Documents, and if the court in which such complaint same is filed not cured within any applicable cure period, Beneficiary shall, as a matter of right, upon petition by ex parte application, be entitled to the Lender, appoint a appointment of an ex parte receiver or receivers for the Premises in accordance with the applicable laws all or any part of the State of Arkansas. Such appointment may Property, whether such receivership be made either before or after sale, without notice, without regard incident to the solvency or insolvency a proposed sale of the Mortgagor at the time of application for such receiver Property or otherwise, and without regard to the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Grantor or any other holder person or persons liable for the payment of the Note Indebtedness and Obligations secured hereby. Grantor does hereby consent to the appointment of such receiver or receivers, ex parte, and waives any and all notices of and defenses to such appointment and agrees not to oppose any application therefor by Beneficiary, but nothing herein to be construed to deprive Beneficiary of any other right, remedy or privilege it may be appointed as now have under the law to have a receiver appointed, provided, however, that the appointment of such receiver. Such receiver , trustee or other appointee by virtue of any court order, statute or regulation shall have power not impair or in any manner prejudice the rights of Beneficiary to collect receive payment of the rents, issues and profits pursuant to other terms and provisions hereof. In connection with any action brought by Beneficiary for appointment of a receiver as allowed herein, Grantor hereby consents to and confesses to the jurisdiction and venue of any competent court within the State of Colorado, including, without limitation, the Xx Xxxx Xxxxxx Xxxxxxxx Xxxxx, Xxxxx xx Xxxxxxxx. Any money advanced by Beneficiary in connection with any such receivership shall be a demand obligation owing by Grantor to Beneficiary, shall bear interest from the date of making such advancement by Beneficiary until paid at the Default Rate, shall be added to the principal balance of the Premises (i) during Note and shall be a part of the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption Indebtedness. The receiver or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would its agents shall be entitled to collect enter upon and take possession of any and all of the Property to the same extent and in the same manner as Grantor might lawfully do. The receiver, personally or through its agents or attorneys, may exclude Grantor and its agents, servants and employees wholly from the Property and may have, hold, use, operate, manage and control the same and each and every part thereof, and in the name of Grantor or Grantor’s agents, may exercise all of their rights and powers and use all of the then existing materials, current supplies, stores and assets and, at the expense of Grantor, maintain, restore, insure and keep insured the properties, equipment, and apparatus provided or required for use in connection with the business or businesses operated on the Land and may make all such rentsnecessary and proper repairs, issues renewals and profitsreplacements and all such useful alterations, additions, betterments and improvements as the receiver may deem judicious. Such receiver also receivership shall, at the option of Beneficiary, continue until full payment of all of the Indebtedness and Obligations secured hereby or until title to the Property shall have all other powers and rights that may be necessary passed by foreclosure sale under this Deed of Trust or are usual deed in such cases for the protection, possession, control, management and operation lieu of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing, Deed of Trust, Security Agreement and Fixture Filing (KBS Strategic Opportunity REIT, Inc.)

Appointment of Receiver. Upon or After the occurrence and during the continuance of an Event of Default, Agent may, at any time after the filing Agent's sole option, make application to a court of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Mortgaged Property, as a matter of Arkansasstrict right and without notice to Mortgagor, and Mortgagor does hereby irrevocably consent to such appointment, waives any and all notices of and defenses to such appointment and agrees not to oppose any application therefor by Agent, but nothing herein is construed to deprive Agent of any other right, remedy or privilege Agent may now have under the law to have a receiver appointed; provided that the appointment of such receiver, trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Agent to receive payment of all of the rents, issues, deposits and profits pursuant to other terms and provisions set forth in this Mortgage. Such appointment may be made either before or after sale, without notice, ; without regard to the solvency or insolvency of the Mortgagor insolvency, at the time of application for such receiver and receiver, of the person or persons, if any, liable for the payment of the Obligations; without regard to the value of the Premises Mortgaged Property at such time and whether or whether not the same shall be is then occupied as a homestead or not homestead; without bond being required of the applicant; and the Lender Agent hereunder or any other holder of the Note employee or agent thereof may be appointed as such receiver. Such receiver shall have all powers and duties prescribed by law, including the power to take possession, control and care of the Mortgaged Property and to collect the all rents, issues issues, deposits, profits and profits of the Premises (i) avails thereof during the pendency of such foreclosure suitsuit and apply all funds received toward the Obligations, (ii) and in case the event of a sale and a deficiencydeficiency where Mortgagor has not waived its statutory rights of redemption, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorMortgagor or its devisees, but legatees, administrators, legal representatives, successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues issues, deposits, profits and profits. Such receiver also avails, and shall have all other powers and rights that may be necessary or are usual useful in such cases for the protection, possession, control, management and operation of the Premises Mortgaged Property during said the whole of any such period, including, to . To the extent permitted by law, such receiver may extend or modify any then existing leases and make new leases of the right to lease all Mortgaged Property or any portion of the Premises part thereof, which extensions, modifications and new leases may provide for a term that extends terms to expire, or for options to lessees to extend or renew terms to expire, beyond the time of Maturity Date, it being understood and agreed that any such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize leases, and the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment options or other lien which may such provisions to be or become superior contained therein, shall be binding upon Mortgagor and all persons whose interests in the Mortgaged Property are subject to the lien hereof hereof, and upon the purchaser or of purchasers at any such judgment or decree, provided such application is made prior to foreclosure sale, and (b) notwithstanding any deficiency upon a redemption from sale, discharge of indebtedness, satisfaction of foreclosure decree or issuance of certificate of sale and deficiencyor deed to any purchaser.

Appears in 2 contracts

Samples: Credit Agreement (MVP REIT, Inc.), Credit Agreement (MVP REIT II, Inc.)

Appointment of Receiver. Upon After the occurrence and during the continuance of an Event of Default, Xxxxxxxx hereby agrees and acknowledges that in addition to any other remedy under the Loan Documents, this Agreement, or at any time after law or equity, that the filing Lender shall be and is entitled to the appointment of a complaint receiver under either state or federal receivership law and the Borrower hereby consents to foreclose the appointment of a receiver of the Lender’s choice for purposes of effectuating the provisions of this Mortgageparagraph. Xxxxxxxx further agrees and consents that, at the Lender’s choosing, such receiver will be entitled to take exclusive possession and control, to the exclusion of Borrower and its agents, of all or substantially all of Borrower’s Collateral or such limited or specific property of Borrower constituting Collateral as the Lender at its discretion may identify or select. Borrower further agrees that such receiver shall be vested with such powers as the appointing court in which such complaint is filed shalldetermines are necessary and appropriate to possess, upon petition by maintain, operate, control, and/or liquidate property placed into the control of the receiver and specifically agrees that at the specific request of the Lender, appoint the receiver may be vested with the power to operate the Borrower as a going concern in all respects, and to collect accounts, enforce and settle claims, and to liquidate Borrower’s property or the Collateral. Xxxxxxxx shall and hereby agrees to cooperate in all reasonable receiver requests for assistance and information necessary to effectuate the duties ascribed to the receiver by the court. Borrower hereby grants to the Lender, solely upon the occurrence and during the continuation of an Event of Default during the term of this Agreement, its limited power of attorney authorizing the Lender to represent the Borrower’s consent to the appointment of a receiver for in any order that the Premises in accordance with the applicable laws Lender may present to a court. Xxxxxxxx further agrees and acknowledges that three (3) Business Days’ notice of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for a hearing appointing such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency considered reasonable notice of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leasehearing. The court from time to time may authorize provisions of this Section 12.6 shall survive the application termination of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyAgreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amtech Systems Inc), Loan and Security Agreement (Amtech Systems Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Mortgaged Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value adequacy of the Premises Mortgaged Property for the repayment of the Debt or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Mortgagor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notDebt, and (iii) during Mortgagor does hereby irrevocably consent to such appointment, waive any further times when the Mortgagorand all notices of and defenses to such appointment and agree not to oppose any application therefor by Mortgagee, but for nothing herein is to be construed to deprive Mortgagee of any other right, remedy or privilege Mortgagee may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Mortgagee to collect receive payment of the Rents pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Mortgaged Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Mortgagee, continue until full payment of all of the Debt or until title to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior Mortgaged Property subject to foreclosure sale, and (b) any deficiency upon a shall have passed by foreclosure sale and deficiencyunder this Mortgage or deed in lieu of foreclosure.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Apple Hospitality Two Inc), Open End Mortgage and Security Agreement (Apple Hospitality Two Inc)

Appointment of Receiver. Upon The Trustee, to the greatest extent permitted by applicable law, may with or at any time after the filing of a complaint to foreclose this Mortgagewithout taking possession, the court in which such complaint is filed shall, upon petition by instrument executed by the LenderTrustee, appoint a receiver for the Premises in accordance with the applicable laws Receiver of all or any part of the State Charged property and of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues income and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale therefrom and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize by similar instrument remove any Receiver and appoint another in its place and upon the application appointment of any such Receiver or Receivers from time to time the following provisions, to the greatest extent permitted by applicable law, shall apply: 14.12.1 every such Receiver shall be vested with all of the net income received by rights, powers, remedies and discretions of the receiver Trustee set forth in payment paragraphs 14.3. 1.1 to 14.3.1.8, inclusively, including, without limitation, the power to sell, for cash or credit or part cash and part credit, lease or dispose of (a) the Indebtedness, all or any amount found due part of the Charged property, whether by public auction or secured by any judgment private sale or decree foreclosing lease in such manner and on such terms as it may determine in its absolute discretion acting reasonably and to do all acts, exercise all discretions and make all determinations of the Trustee described therein; 14.12.2 every such Receiver shall have the power to borrow money on the security of the Charged property in priority to the security created by this MortgageDeed for the purpose of the preservation, maintenance, completion or protection of the Charged property or any taxpart thereof or for making any replacements thereof or improvements and additions thereto or for carrying on all or any part of the business of the Grantor relating to the Charged property, special assessment or other lien and in so doing the Receiver may issue certificates designated as "Receiver's Certificates" which may be payable either to order or become superior to bearer and may be payable at such time or times as the Receiver may think expedient and shall bear interest at such rates of interest as the Receiver may consider reasonable, and the amounts from time to time payable pursuant to such Receiver's Certificates shall form a charge upon the Charged property in priority to the lien hereof security created by this Deed; 14.12.3 the Trustee may from time to time fix the remuneration of every such Receiver who shall be entitled to deduct the same out of the receipts derived from or comprising part of the Charged property or the proceeds thereof; 14.12.4 every such judgment Receiver shall be deemed to be an agent of the Grantor and not of the Trustee for the purposes of: (i) carrying on and managing the business and affairs of the Grantor, and (ii) establishing liability for all of the acts or decreeomissions of the Receiver while acting as such and the Trustee shall not be in any way responsible for any acts or omissions on the part of any such Receiver, its officers, employees and agents, the Grantor hereby irrevocably authorizing the Trustee to give instructions to the Receiver relating to the performance of its powers and discretions as set out herein; 14.12.5 the appointment of every such Receiver by the Trustee or anything which may be done by any such Receiver or the removal of any such Receiver or the termination of any such receivership shall not have the effect of constituting the Trustee a mortgagee in possession in respect of the Charged property or any part thereof; 14.12.6 no such Receiver shall be liable to the Grantor to account for moneys other than moneys actually received by such Receiver in respect of the Charged property and every such Receiver shall apply such moneys so received in the manner provided in paragraph 14.13; and 14.12.7 the Trustee may at any time and from time to time terminate any such application is made prior receivership by notice in writing executed by the Trustee to foreclosure sale, and (b) any deficiency upon a sale and deficiency.such Receiver;

Appears in 2 contracts

Samples: Deed of Hypothec (SLM International Inc /De), Deed of Hypothec (SLM International Inc /De)

Appointment of Receiver. Upon or at In any time after the filing of a complaint action to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency notice and as a matter of the Mortgagor at the time of application for such receiver right and without regard to the value adequacy of any security of the Premises indebtedness or whether the same shall be then occupied as solvency of Mortgagor, upon application to any court having jurisdiction, to the appointment of a homestead or not and the Lender hereunder or any other holder receiver of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues income and profits of the Premises (i) during Mortgaged Property. If an Event of Default occurs under this Mortgage, Oneida, upon demand of Mortgagee, shall surrender the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notpossession of, and (iii) during any further times when the Mortgagorit shall be lawful for Mortgagee, but for the intervention of by such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that officer or agent as it may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingappoint, to the extent permitted by lawtake possession of, the right to lease all or any portion part of the Premises for a term that extends beyond Mortgaged Property together with the time books, papers, and accounts of such receiver’s possession without obtaining prior court approval of such lease. The court Oneida pertaining thereto, and to hold, operate and manage the same, and from time to time to make all needed repairs and improvements as Mortgagee shall deem wise; and, if Mortgagee deems it necessary or desirable, to complete construction and equipping of any Improvements and in the course of such construction or equipping to make such changes to the same as it may authorize deem desirable; and Mortgagee may sell the application Mortgaged Property or any part thereof, or institute proceedings for the complete or partial foreclosure of the net income received by lien of this Mortgage on the receiver in payment of (a) the IndebtednessMortgaged Property, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, lease the Premises or any taxpart thereof in the name and for the account of Mortgagor or Mortgagee and collect, special assessment receive and sequester the rents, revenues, earnings, income, products and profits therefrom, and out of the same and any other monies received hereunder pay or provide for the payment of, all proper costs and expenses of taking, holding, leasing, selling and managing the same, including reasonable compensation to Mortgagee, its agents and counsel, and any charges of Mortgagee hereunder, and any taxes and other lien which may be or become superior charges prior to the lien hereof or of such judgment or decree, provided such application is made prior this Mortgage which Mortgagee may deem it wise to foreclosure salepay. The Receiver shall also be authorized to collect from Oneida, and (b) any deficiency upon a sale Oneida agrees to pay, the fair rental value of Oneida's use and deficiencyoccupancy of the Mortgaged Property.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, and Security Agreement (Oneida LTD), Mortgage, Assignment of Leases and Rents, and Security Agreement (Oneida LTD)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Mortgagor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Mortgagor does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Mortgagee, but for nothing herein is to be construed to deprive Mortgagee of any other right, remedy or privilege Mortgagee may now have under the intervention law to have a receiver appointed, provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Mortgagee to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Mortgagee, continue until full payment of all of the indebtedness secured hereby or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Mortgage or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Merry Land Properties Inc), Mortgage and Security Agreement (Merry Land Properties Inc)

Appointment of Receiver. Upon or at any time after If, during the filing continuance of an Event of Default hereunder, Lender deems, in Lender's sole discretion, that a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment receivership may be made either necessary to protect the Property or its Rents, whether before or after sale, without notice, without regard to the solvency or insolvency maturity of the Mortgagor Note and whether before or at the time of application for such receiver or after the institution of foreclosure or suit to collect the Loan or to enforce this Mortgage or any of the other Loan Documents, Lender, as a matter of strict right and without regard to regardless of the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application and without notice to anyone, and by any court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Property, to collect the rentsRents thereof, issues to make all necessary and profits needful repairs, and to pay all taxes, assessments, insurance premiums and other such charges against and expenses of the Premises (i) during Property, and to do such other acts as may by such court be authorized and directed, and after payment of the pendency expenses of the receivership and the management of the Property, to apply the net proceeds of such foreclosure suitreceivership in reduction of the Loan or in such other manner as the said court shall direct notwithstanding the fact that the amount owing thereon may not then be due and payable or the said Loan is otherwise adequately secured. Such receivership shall, (ii) in case at the option of Lender, continue until full payment of all sums hereby secured or until title to the Property shall have passed by sale under this Mortgage. Borrower hereby specifically waives its right to object to the appointment of a sale receiver as aforesaid and hereby expressly agrees that such appointment shall be made as an admitted equity and as a deficiency, during the full statutory period matter of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the absolute right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLender.

Appears in 2 contracts

Samples: Open End Mortgage and Security Agreement (Hines Global Reit Ii, Inc.), Open End Mortgage and Security Agreement (Hines Global Reit Ii, Inc.)

Appointment of Receiver. Upon Default, the Bank may, with or at without entering into possession of the Lands or any time after part thereof, by instrument in writing appoint, or by application to a court of competent jurisdiction obtain an order for the filing appointment of a complaint Receiver of the Lands, or any part thereof, and of the rents and profits thereof, and with or without security, and may from time to foreclose this Mortgagetime, when the appointment of the Receiver is by instrument in writing, by similar writing remove any such Receiver and appoint another in its place and stead, and in making such appointment or removal, the court in which Bank shall be deemed to be acting as the agent or attorney for the Borrower, but no such complaint is filed shall, upon petition appointment shall be revocable by the Lender, appoint a receiver for Borrower. Upon the Premises in accordance with appointment of any such Receiver from time to time the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard following provisions apply: (a) The Receiver shall have unlimited access to the solvency or insolvency Lands (which right of access shall not be revocable by the Mortgagor at the time of application for such receiver Borrower) and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have full power to collect the rents, issues and profits of the Premises unlimited authority to: (i) during collect all rents and profits falling due in respect of the pendency of such foreclosure suitLands, or any part thereof; (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption lease or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or sublease any portion of the Premises Lands on such terms and conditions as the Receiver considers advisable and enter into and execute any leases of the Lands or any part thereof, and accept surrenders of and terminate any such leases; (iii) complete any unfinished construction upon the Lands, including construction of any building or buildings or other structures, improvements or Fixtures, and take possession of and use any materials, supplies, plans, tools or equipment on the Lands; (iv) manage, operate, alter, repair, maintain in good condition, or extend the Lands or any part thereof; (v) sell or grant options to purchase the Lands, or any part thereof, by public auction or private sale, on such terms as to credit or otherwise and with or without security as shall appear most advantageous to the Receiver; (vi) rescind or vary any contract or agreement of sale or lease of the Lands; (vii) borrow such sum or sums as will, in the opinion of the Receiver, be required for the purposes of carrying out the Receiver’s duties; (viii) employ such assistants as the Receiver may consider necessary for carrying out the Receiver’s duties; and (ix) perform such other acts and duties and incur any other expense that, in the Receiver’s opinion, will maintain, preserve or increase the value or income potential of the Lands or that is authorized by a term that extends beyond court order appointing the time of such receiver’s possession without obtaining prior court approval of such leaseReceiver. The court from time Borrower undertakes to time ratify and confirm whatever the Receiver may authorize the application do in respect of the net income Lands. (b) The Bank at its discretion may vest the Receiver with all or any of the rights and powers of the Bank. (c) The Bank may fix the remuneration of the Receiver and such remuneration, together with all costs, charges and expenses of the Receiver and the Receiver’s borrowings, if any, required for the purposes of carrying out the Receiver’s duties under this Charge, shall be payable immediately on demand by the Borrower, be added to the monies secured by the Charge, bear interest as set out in Section 4 of this set of standard charge terms and, together with such interest, form a charge on the Lands. (d) In all instances, the Receiver shall be deemed to be the attorney or agent of the Borrower and not of the Bank and the Bank shall not be responsible for the acts and omissions of the Receiver. (e) The appointment of any Receiver by the Bank shall not result in or create any liability or obligation on the part of the Bank to the Receiver or the Borrower or to any other Person in any respect, including, without limitation, for the Receiver’s remuneration, costs, charges and expenses and no appointment or removal of a Receiver and no actions of a Receiver shall render the Bank a chargee or mortgagee in possession of the Lands; (f) The Bank shall not be accountable for any monies received by the receiver Receiver except to the extent the Bank actually receives the monies. No Receiver shall be liable to the Borrower to account for monies other than monies actually received by the Receiver in payment respect of the Lands or any part thereof and out of such monies so received every Receiver shall, subject to applicable Laws, pay in the following order: (ai) all the Receiver’s remuneration; (ii) all costs, charges and expenses of every nature and kind incurred by the Receiver in connection with the management, operation, repair, alteration or extension of the Lands or any part thereof; (iii) all amounts required to keep any encumbrances ranking in priority to the Charge in good standing, and all Taxes, insurance premiums and other proper expenditures made or incurred by the Receiver in respect of the Lands or any part thereof; (iv) the IndebtednessLiabilities, whether due or not, to be paid in such order as the Bank in its sole discretion shall determine; and (v) any surplus, subject to the rights of other creditors, to the Borrower. (g) Save as to claims for accounting under Subsection 24(f), the Borrower hereby releases and discharges the Bank and every Receiver from every claim of every nature which may arise or be caused to the Borrower or any amount found due Person claiming through or secured under the Charge by any judgment reason or decree foreclosing as a result of anything done by the Bank or Receiver under the provisions of this MortgageSection 24, unless such claim is the direct and proximate result of dishonesty or any tax, special assessment fraud. (h) The statutory declaration of an officer or other lien which may be or become superior agent of the Bank as to default under the provisions of the Charge and as to the lien hereof or due appointment of the Receiver pursuant to the Charge shall be sufficient proof thereof for the purposes of any Person dealing with a Receiver and such judgment or decree, provided such application is made prior dealing shall be deemed to foreclosure sale, be valid and effectual notwithstanding any contrary assertion by the Borrower. (bi) The rights and powers conferred in the Charge in respect of the Receiver are in addition to and not in substitution of any deficiency upon a sale other rights and deficiencypowers which the Bank may have.

Appears in 1 contract

Samples: Mortgage Agreement

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasAct. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s 's possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (National Patent Development Corp)

Appointment of Receiver. Upon or at (a) After the occurrence of any time after the filing Event of a complaint to foreclose this MortgageDefault, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingMortgagee, to the extent permitted by lawlaw and without regard to the value, the right to lease all adequacy or any portion occupancy of the Premises Mortgaged Property, shall be entitled as a matter of right, if it so elects, to the appointment of a receiver to enter upon and take possession of the Mortgaged Property and to collect all rents, royalties, issues, profits, revenues, income and other benefits of and from the Mortgaged Property and apply the same as the court may direct or otherwise as may be permitted by law. Mortgagor hereby specifically and irrevocably consents to such appointment. The receiver shall be entitled to hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof as would Mortgagee pursuant to the immediately preceding Section and shall have all rights and powers permitted under the laws of the State of New York and such other rights and powers as the court making such appointment shall confer. The receiver shall be liable to account only for a term that extends beyond rents, royalties, issues, profits, revenues, income and other benefits actually received by such receiver. Notwithstanding the appointment of any receiver or other custodian, Mortgagee, as pledgee or depository, shall be entitled to the possession and control of any cash, deposits or instruments held by Mortgagee at the time of such receiver’s possession without obtaining prior court approval of such lease. The court appointment or payable or deliverable to Mortgagee from time to time may authorize under the application terms of this Mortgage or any of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and Loan Documents. (b) Upon request by Mortgagee, Mortgagor shall pay to Mortgagee, or to any deficiency upon a sale other person that Mortgagee may designate, or to any such receiver, all reasonable costs, expenses and deficiencyliabilities (including, without limitation, reasonable attorneys’ fees, receivers’ fees and the fees of any manager retained by such receiver) incurred by Mortgagee or by such receiver in connection with the appointment of such receiver and the exercise of the rights and powers of such receiver, except to the extent such costs, expenses and liabilities shall have been paid out of collections from the Mortgaged Property as provided in the immediately preceding Section, together with interest thereon at the Default Rate from the date incurred by Mortgagee or by such receiver until the date so paid to, or as directed by, Mortgagee or to such receiver.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Alexanders Inc)

Appointment of Receiver. Upon Whenever the Trustee shall determine under the provisions of Section 8.2, or at any time after be directed pursuant to the filing provisions of a complaint Section 8.3, to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver (which term used herein includes a receiver and manager) the following provisions shall apply: (a) the Trustee may apply to any court of competent jurisdiction for the Premises appointment of a receiver or may make such appointment by an instrument in accordance with the applicable laws writing signed by an officer of the State of Arkansas. Such appointment may be made either before or after saleTrustee, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same which instrument shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency evidence for all purposes of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseappointment. The court Trustee may from time to time may authorize in the application same manner remove or replace any receiver so appointed and appoint another in his stead. In making any such appointment the Trustee shall be deemed to be acting as the attorney of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and Company; (b) such receiver may in the discretion of the Trustee be vested with all or any deficiency of the powers and discretions of the Trustee; (c) the Trustee may from time to time fix the remuneration of such receiver and direct the payment thereof out of the Collateral, the income therefrom or the proceeds thereof; (d) the Trustee may from time to time require such receiver to give security for the performance of his duties and may fix the nature and amount thereof, but shall not be bound to require such security; (e) such receiver may, with the consent in writing of the Trustee, borrow money for the purposes of operating the Collateral including, but not limited to, carrying on any business of the Company, or for the maintenance, protection or preservation of the Collateral or any part thereof, and the receiver may issue certificates (herein called "receiver's certificates") for such sums as will, in the opinion of the Trustee, relying on the opinion of Counsel, be sufficient for obtaining upon the security of the Collateral or any part thereof the amounts from time to time required, and such receiver's certificates may be payable either to order or to bearer and may be payable at such time or times as to the Trustee may appear expedient, and shall bear interest as shall therein be declared, and the receiver may sell, pledge or otherwise dispose of the same in such manner as to the Trustee may seem advisable, and may pay such commission on the sale thereof as to the Trustee may appear reasonable, and the amounts from time to time payable by virtue of such receiver's certificates shall form a sale charge upon the Collateral in priority to the Debentures; (f) such receiver shall, so far as concerns responsibility for his acts or omissions, be deemed the agent of the Company, and deficiencyin no event the agent of the Trustee, and the Trustee shall not, in making or consenting to such appointment, incur any liability to the receiver for his remuneration or otherwise howsoever; (g) except as may be otherwise directed by the Trustee, all moneys from time to time received by such receiver shall be paid over to the Trustee to be held by it on the trusts of these presents; (h) the Trustee may pay over to such receiver any moneys constituting part of the Collateral to the intent that the same may be applied for the purposes hereof by such receiver, and the Trustee may from time to time determine what funds the receiver shall be at liberty to keep in hand with a view to the performance of his duty as receiver; and (i) for greater certainty, the Trustee may appoint or cause to be appointed a receiver, with or without otherwise enforcing the security of this Indenture or the Security Agreements.

Appears in 1 contract

Samples: Trust Indenture (Security Devices International Inc.)

Appointment of Receiver. Upon or at any time after the filing Beneficiary shall be entitled, as a matter of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver absolute right and without regard to the value of any security for the Premises Secured Obligations or whether the same shall be then occupied as solvency of any person liable therefor, to the appointment of a homestead receiver for the Property upon ex-parte application to any court of competent jurisdiction. Trustor waives any right to any hearing or not and notice of hearing prior to the Lender hereunder or any other holder appointment of the Note may be appointed as such a receiver. Such receiver and its agents shall have power be empowered, but shall not be obligated, to (a) take possession of the Property and any businesses conducted by Trustor or any other person thereon and any business assets used in connection therewith, (b) exclude Trustor and Trustor’s agents, servants, and employees from the Property, (c) collect the rents, issues issues, profits, and profits income therefrom, (d) complete any construction which may be in progress, (e) do such maintenance and make such repairs and alterations as the receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the Premises (i) during the pendency of such foreclosure suitreceivership estate, (iig) in case of a sale pay all taxes and a deficiencyassessments against the Property and the Chattels, during the full statutory period of redemptionall premiums for insurance thereon, whether there be redemption all utility and other operating expenses, and all sums due under any prior or notsubsequent encumbrance, and (iiih) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual generally do anything which Trustor could legally do if Trustor were in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseProperty. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including attorneys” fees incurred by the receiver and by Beneficiary, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Secured Obligations or in payment such other manner as the court may direct. Unless sooner terminated with the express consent of (a) Beneficiary, any such receivership will continue until the IndebtednessSecured Obligations have been discharged in full, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof or of such judgment or decree, provided such application is made prior to Property has passed after foreclosure sale, and (b) any deficiency upon a sale and deficiencyall applicable periods of redemption have expired.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents (Hudson Pacific Properties, Inc.)

Appointment of Receiver. Upon or If, at any time after the filing of a complaint to foreclose this Mortgagedefault hereunder, the court Lender deems, in which such complaint is filed shallLender's sole discretion, upon petition by the Lender, appoint that a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment receivership may be made either necessary to protect the Property or its Rents, whether before or after sale, without notice, without regard to the solvency or insolvency maturity of the Mortgagor Note and whether before or at the time of application for such receiver or after the institution of foreclosure or suit to collect the Loan or to enforce this Xxxxx, Xxxxxxxx Mortgage or any of the other Loan Documents, Lender, as a matter of strict right and without regard to regardless of the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application and without notice to anyone, and by any court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Property, to collect the rentsRents thereof, issues to make all necessary and profits needful repairs, and to pay all taxes, assessments, insurance premiums and other such charges against and expenses of the Premises (i) during Property, and to do such other acts as may by such court be authorized and directed, and after payment of the pendency expenses of the receivership and the management of the Property, to apply the net proceeds of such foreclosure suitreceivership in reduction of the Loan or in such other manner as the said court shall direct notwithstanding the fact that the amount owing thereon may not then be due and payable or the said Loan is otherwise adequately secured. Such receivership shall, (ii) in case at the option of Lender, continue until full payment of all sums hereby secured or until title to the Property shall have passed by sale under this Mortgage. Borrower hereby specifically waives its right to object to the appointment of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notreceiver as aforesaid, and (iii) during any further times when the Mortgagor, but for the intervention hereby expressly agrees that such appointment shall be made as an admitted equity and as a matter of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the absolute right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLender.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Agree Realty Corp)

Appointment of Receiver. Upon Upon, or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, may appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasMortgaged Property. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Borrower at the time of application for such receiver and without regard to the then value of the Premises Mortgaged Property or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note holders may be appointed as such receiver. Such receiver shall have power power: (a) to collect the rents, issues and profits of the Premises (i) Mortgaged Property during the pendency of such foreclosure suitsuit and, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorBorrower, but except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also ; (b) to extend or modify any then existing leases and to make new leases, which extensions, modifications and new leases may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the indebtedness hereunder and beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and agreed that any such leases, and the options or other such provisions to be contained therein, shall have be binding upon Borrower and all persons whose interests in the premises are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding any redemption from sale, discharge of the mortgage indebtedness, satisfaction of any foreclosure decree, or issuance of any certificate of sale or deed to any purchaser; and (c) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management management; and operation of the Premises premises during the whole of said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of receiver to apply the net income received by the receiver in his hands in payment in whole or, in part of (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Mortgagemortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and ; (b) any the deficiency upon in case of a sale and deficiency.

Appears in 1 contract

Samples: Mortgage Deed and Security Agreement (Emeritus Corp\wa\)

Appointment of Receiver. Upon or at At any time after the filing occurrence and during the continuance of a complaint an Event of Default under this Deed to foreclose this MortgageSecure Debt, the court in which such complaint is filed shall, upon petition by Grantee shall have the Lender, appoint right to have a receiver appointed for the Premises in accordance with or any portion thereof. To the applicable laws of the State of Arkansas. Such extent not prohibited by Georgia law, such appointment may be made either before or after salemade, without notice, without regard to the solvency or insolvency of the Mortgagor Grantor at the time of application for such receiver and without regard to the then value of the Premises or whether the same shall be then occupied as a homestead or not Premises, and the Lender hereunder Grantee or any other holder of the Note may be appointed as such receiver. Such To the extent not prohibited by Georgia law, such receiver shall have power (i) to collect the rents, issues and profits of the Premises (i) during pending the pendency sale of such foreclosure suitthe Premises, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorGrantors, but except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also ; (ii) to extend or modify any then existing leases and to make new leases, which extension, modifications and new leases may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the indebtedness secured by this Deed to Secure Debt and beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a sale of the Premises, it being understood and agreed that any such leases, and the options or other such provisions to be contained therein, shall have be binding upon the Grantors and all persons whose interests in the Premises are subject to this Deed to Secure Debt and upon the purchaser or purchasers at any such sale, notwithstanding discharge of the indebtedness secured by this Deed to Secure Debt or issuance of any deed to any purchaser; and (iii) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of receiver to apply the net income received by the receiver in his hands in payment in whole or in part of (a) the Indebtedness, or any amount found due or indebtedness secured by any judgment or decree foreclosing this MortgageDeed to Secure Debt, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyconveyance hereof.

Appears in 1 contract

Samples: Deed to Secure Debt, Security Agreement and Assignment of Leases and Rents (Adcare Health Systems Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this MortgageDeed of Trust, the court in which such complaint is filed shall, upon petition by the Lender, may appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasProperty or any portion thereof. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Grantor at the time of application for such receiver and without regard to the then value of the Premises or whether the same shall be then occupied as a homestead or not Property, and the Lender hereunder or any other holder of the Note Beneficiary may be appointed as such receiver. Such receiver shall have power (i) to collect the rents, issues and profits of the Premises (i) Revenues during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorGrantor, but except for the intervention of such receiver, would be entitled to collect such rentsRevenues; (ii) power to extend or modify any then existing leases and to make new commercially reasonable leases, issues which extension, modifications and profits. Such receiver also new leases may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the indebtedness secured by this Deed of Trust and beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and agreed that any such leases, and the options or other such provisions to be contained therein, shall have be binding upon Grantor and all persons whose interests in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding discharge of the indebtedness secured by this Deed of Trust, satisfaction of any foreclosure judgment, or issuance of any certificate of sale or deed to any purchaser; and (iii) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during the whole of said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of receiver to apply the net income received by the receiver in its hands in payment in whole or in part of (a) the Indebtednessindebtedness secured by this Deed of Trust, or any amount found due or secured by any judgment or decree foreclosing this MortgageDeed of Trust, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Geopetro Resources Co)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed Mortgagee shall, upon petition by the Lender, appoint as a receiver for the Premises in accordance with the applicable laws matter of the State of Arkansas. Such appointment may be made either before or after saleright, without noticenotice and without giving bond to the Company or anyone claiming by, under or through it, and without regard to the solvency or insolvency of the Mortgagor at Company or the time of application for such receiver and without regard to the then value of the Premises or whether Mortgaged Property, be entitled to have a receiver appointed pursuant to the same shall be then occupied as a homestead or not and the Lender hereunder Act of all or any other holder part of the Note may be appointed as such receiver. Such receiver shall have power to collect Mortgaged Property and the rents, issues and profits thereof, with such power as the court making such appointment shall confer (including, but not limited to, the rights of a receiver pursuant to Minn. Stat. § 576.01), and the Premises (i) during Company hereby consents to the pendency appointment of such foreclosure suit, (ii) in case of a sale receiver and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during shall not oppose any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect appointment. Any such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingmay, to the extent permitted by under applicable law, without notice, enter upon and take possession of the right to lease all Mortgaged Property or any portion part thereof by summary proceedings, ejectment or otherwise, and may remove the Company or other persons and any and all property therefrom, and may hold, operate and manage the same and receive all earnings, income, rents, issues and proceeds accruing with respect thereto or any part thereof, whether during the pendency of any foreclosure or until any right of redemption shall expire or otherwise, and perform the terms of this Mortgage and apply the rents, issues and profits to the payment of the Premises expenses enumerated in Minn. Stat. § 576.01, Subd. 2 in the priority mentioned therein and to all expenses for maintenance of the Mortgaged Property and to the costs and expenses of the receivership, including attorney’s fees, to the repayment of the Indebtedness Hereby Secured hereby and as further provided in any assignment of leases and rents executed by the Company to the Mortgagee whether contained in this Mortgage or in a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseseparate instrument. The court from time Company does hereby irrevocably consent to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or such appointment. The purchaser at any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, including the Mortgagee, shall have the right, at any time and (b) without limitation as provided in Minn. Stat. § 582.03, to advance the money to any deficiency upon receiver appointed hereunder to pay any part or all of the items which the receiver would otherwise be authorized to pay if cash were available from the Mortgaged Property and the sum so advanced, with interest at the rate then in effect under the terms of the Note, shall be a sale and deficiencypart of the sum required to be paid to redeem from any foreclosure sale.

Appears in 1 contract

Samples: Mortgage Agreement (Blue Ridge Real Estate Co)

Appointment of Receiver. 8.1.1. Upon or at any time after the filing occurrence of a complaint to foreclose this Mortgagean Event of Default, the court in which such complaint is filed shallRequired Holders, upon petition by the Lender, appoint a receiver for the Premises in accordance with this Agreement and in addition to the applicable laws remedies set out in Article 6 of the State of Arkansas. Such appointment Indenture, may be made either before instruct the Trustee to appoint by instrument any Person, whether an officer or after sale, without notice, without regard to the solvency or insolvency an employee of the Mortgagor at Trustee or the time Holders or not, to be a Receiver of application for Collateral and may remove any Receiver so appointed and appoint another in place of such receiver and without regard to Receiver in the value same manner. Any such Receiver shall be deemed the agent of the Premises or whether the same shall be then occupied as a homestead or Guarantor and not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect Trustee or the rents, issues and profits Holders for the purpose of the Premises (i) during carrying on and managing the pendency business and affairs of such foreclosure suitthe Guarantor, and (ii) in case establishing liability for all acts or omissions of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notReceiver while acting as such, and (iii) during the Trustee or the Holders shall not be in any further times when way responsible for any acts or omissions on the Mortgagorpart of any such Receiver, but for its officers, employees and agents. The Guarantor hereby irrevocably authorizes the intervention Trustee and the Required Holders to give instructions to the Receiver relating to the performance of such receiver, would be entitled to collect such rents, issues and profitsits duties. Such receiver also shall The Guarantor hereby irrevocably waives any right it may have all other powers and rights that may be necessary now or are usual in such cases for the protection, possession, control, management and operation of the Premises during said periodfuture under any applicable law, including, without limitation, the PPSA, to make application to a court for the removal, replacement or discharge of the Receiver or for directions on any matter relating to the duties of the Receiver (unless such duties are not being performed in a commercially reasonable manner) or in respect of the Receiver's accounts or remuneration or in respect of any other matter. 8.1.2. Subject to the provisions of the instrument appointing it, any such Receiver shall have the power to take possession of Collateral, to preserve Collateral or its value in such manner as it considers appropriate, to carry on or concur in carrying on all or any part of the business of the Guarantor and to sell, lease or otherwise dispose of or concur in selling, leasing or otherwise disposing of Collateral in such manner and on such terms as it considers to be commercially reasonable. To facilitate the foregoing powers, any such Receiver may enter upon, use and occupy all premises owned or occupied by the Guarantor wherein Collateral may be situate to the exclusion of all others to the extent permitted by law, including the right to lease all Guarantor, maintain Collateral upon such premises, borrow money on a secured or any portion unsecured basis, incur reasonable expenses in the exercise of the Premises rights, powers and remedies set out in this Agreement and use Collateral directly in carrying on the Guarantor's business or as security for loans or advances to enable it to carry on the Guarantor's business or otherwise, as such Receiver shall, in its discretion, determine. In addition, the Receiver shall have the following rights, powers and remedies: 8.1.2.1. to make payments to Persons having prior rights or Liens on properties on which the Guarantor may hold a term that extends beyond Lien and to Persons having prior rights or Liens on the time Collateral; and 8.1.2.2. to demand, commence, continue or defend proceedings in the name of such receiver’s the Trustee, the Holders or of the Receiver or in the name of the Guarantor for the purpose of protecting, seizing, collecting, realizing or obtaining possession without obtaining prior court approval or payment of such leasethe Collateral and to give effectual receipts and discharges therefor. 8.1.3. The court Except as may be otherwise directed by the Trustee or the Required Holders, all Proceeds received from time to time may authorize by such Receiver in carrying out its appointment shall be received in trust, or as agent in the application Province of Quebec, for and paid over to the Trustee, on behalf of the net income received by Holders. Every such Receiver may, in the receiver in payment discretion of (a) the IndebtednessTrustee or the Required Holders, be vested with all or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to of the lien hereof or rights and powers of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencythe Trustee.

Appears in 1 contract

Samples: General Security Agreement (Archibald Candy Corp)

Appointment of Receiver. Upon or at any time after the filing If an Event of a complaint to foreclose this MortgageDefault shall have occurred and be continuing, then for so long as, and until, the court indebtedness secured hereby is repaid in which such complaint is filed full, Lender and Trustee shall, as a matter of right, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of ex parte application for such receiver and without regard to the value of the Premises Property or the adequacy of any security for the indebtedness secured hereby and without regard to whether Lender has commenced an action to foreclose the same lien of this Security Instrument and without requirement for prior notice, be entitled to the appointment of a receiver for all or any part of the Property, whether such receivership be part of the Property or otherwise, and without regard to the nature of the action in which the appointment of a receiver is sought, and Borrower hereby consents to, and waives prior notice of, the appointment of such a receiver and will not oppose any such appointment. Such receiver or other official shall be then occupied have all rights and powers permitted by applicable law and such other rights and powers as a homestead the court making such appointment may confer, but the appointment of such receiver or other official shall not and impair or in any manner prejudice the rights of Lender hereunder to receive the receipts with respect to any of the Property pursuant to this Security Instrument or any other holder Loan Documents. Without limiting the generality of the Note may be appointed as foregoing, such receiver. Such receiver shall have have, as permitted by the court ordering the same, the power to collect make Leases to be binding upon all parties, including Borrower, the rentspurchaser at a sale pursuant to a judgment of foreclosure and any person acquiring an interest in the Property after entry of a judgment of foreclosure and the power to extend or modify any then-existing Leases, issues which extensions and profits modifications may provide for terms to expire, or for options for tenants to extend or renew beyond the stated maturity date of the Premises (i) during Note, it being understood and agreed that any such Leases, and the pendency of such options or other provisions to be contained therein, shall be binding upon Borrower and all the persons whose interest in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure suitsale, (ii) in case of a sale and a deficiency, during the full statutory period of notwithstanding any redemption, whether there be redemption reinstatement, discharge of the Indebtedness, satisfaction of any foreclosure judgment, or notissuance of any certificate of sale or deed to any purchaser. In addition, and (iii) during any further times when such receiver shall have, as permitted by the Mortgagorcourt ordering the same, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion whole of the Premises for a term that extends beyond the time period of such receiver’s possession without obtaining prior court approval of such leasereceivership. The court from time to time Lender or Trustee may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment also seek a temporary restraining order or other lien which may be or become superior injunctive relief with respect to the lien hereof or any act of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyomission constituting an Event of Default.

Appears in 1 contract

Samples: Deed of Trust (General Cannabis Corp)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this MortgageDeed of Trust, the court in which such complaint is filed shall, upon petition by the Lender, may appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasProperty or any portion thereof. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Grantors at the time of application for such receiver and without regard to the then value of the Premises or whether the same shall be then occupied as a homestead or not Property, and the Lender hereunder or any other holder of the Note Beneficiary may be appointed as such receiver. Such receiver shall have power (i) to collect the rents, issues and profits of the Premises (i) Revenues during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorGrantors, but except for the intervention of such receiver, would be entitled to collect such rentsRevenues; (ii) power to extend or modify any then existing leases and to make new commercially reasonable leases, issues which extension, modifications and profits. Such receiver also new leases may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the indebtedness secured by this Deed of Trust and beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and agreed that any such leases, and the options or other such provisions to be contained therein, shall have be binding upon Grantors and all persons whose interests in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding discharge of the indebtedness secured by this Deed of Trust, satisfaction of any foreclosure judgment, or issuance of any certificate of sale or deed to any purchaser; and (iii) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during the whole of said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of receiver to apply the net income received by the receiver in its hands in payment in whole or in part of (a) the Indebtednessindebtedness secured by this Deed of Trust, or any amount found due or secured by any judgment or decree foreclosing this MortgageDeed of Trust, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Geopetro Resources Co)

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Appointment of Receiver. Upon or If, at any time after a default hereunder and the filing expiration of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws cure periods, if any, expressly provided for herein, in the sole discretion of the State of Arkansas. Such appointment Mortgagee, a receivership may be made either necessary to protect the Property or its rents, issues, revenue, profits or proceeds, whether before or after sale, without notice, without regard to the solvency or insolvency maturity of the Mortgagor Note and whether before or at the time of application for or after the institution of foreclosure or suit to collect such receiver indebtedness, or to enforce this Mortgage, Mortgagee, as a matter of strict right and without regard to regardless of the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application and without notice to anyone, and by any court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Property, to collect the rents, issues issues, revenues, profits, proceeds and profits income thereof, to make all necessary and needful repairs, and to pay all taxes, assessments and charges against the Property and all premiums for insurance thereon, and to do such other acts as may by such court be authorized and directed, and after payment of the Premises (i) during expenses of the pendency receivership and the management of the Property, to apply the net proceeds of such foreclosure suitreceivership in reduction of the indebtedness secured hereby or in such other manner as the said court shall direct notwithstanding the fact that the amount owing thereon may not then be due and payable or the said indebtedness is otherwise adequately secured. Such receivership shall, (ii) in case at the option of Mortgagee, continue until full payment of all sums hereby secured or until title to the Property shall have passed by sale under this Mortgage. Mortgagor hereby specifically waives its right to object to the appointment of a sale receiver as aforesaid and hereby expressly agrees that such appointment shall be made as an admitted equity and as a deficiency, during the full statutory period matter of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the absolute right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyMortgagee.

Appears in 1 contract

Samples: South Second Mortgage Note (Jones Financial Companies L P)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application, ex-parte, to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Grantor and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Grantor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Grantor hereby irrevocably consents to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Beneficiary, but for nothing herein is to be construed to deprive Beneficiary of any other right, remedy or privilege Beneficiary DEED OF TRUST AND SECURITY AGREEMENT - Page 52 may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Beneficiary to collect receive payment of the Rents and Profits pursuant to other terms and provisions of this Deed of Trust or the Assignment. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Beneficiary, continue until full payment of all of the indebtedness secured hereby or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Deed of Trust or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Westcoast Hospitality Corp)

Appointment of Receiver. Upon or at In any time after the filing of a complaint action to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may Mortgagee shall be made either before or after saleentitled, without notice, without regard to the solvency or insolvency notice and as a matter of the Mortgagor at the time of application for such receiver right and without regard to the value adequacy of any security of the Premises indebtedness or whether the same shall be then occupied as solvency of Mortgagor, upon application to any court having jurisdiction, to the appointment of a homestead or not and the Lender hereunder or any other holder receiver of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues income and profits of the Premises (i) during Mortgaged Property. If an Event of Default occurs under this Mortgage, BMC, upon demand of Mortgagee, shall surrender the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notpossession of, and (iii) during any further times when the Mortgagorit shall be lawful for Mortgagee, but for the intervention of by such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that officer or agent as it may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingappoint, to the extent permitted by lawtake possession of, the right to lease all or any portion part of the Premises for a term that extends beyond Mortgaged Property together with the time books, papers, and accounts of such receiver’s possession without obtaining prior court approval of such lease. The court BMC pertaining thereto, and to hold, operate and manage the same, and from time to time to make all needed repairs and improvements as Mortgagee shall deem wise; and, if Mortgagee deems it necessary or desirable, to complete construction and equipping of any Improvements and in the course of such construction or equipping to make such changes to the same as it may authorize deem desirable; and Mortgagee may sell the application Mortgaged Property or any part thereof, or institute proceedings for the complete or partial foreclosure of the net income received by lien of this Mortgage on the receiver in payment of (a) the IndebtednessMortgaged Property, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, lease the Premises or any taxpart thereof in the name and for the account of Mortgagor or Mortgagee and collect, special assessment receive and sequester the rents, revenues, earnings, income, products and profits therefrom, and out of the same and any other monies received hereunder pay or provide for the payment of, all proper costs and expenses of taking, holding, leasing, selling and managing the same, including reasonable compensation to Mortgagee, its agents and counsel, and any charges of Mortgagee hereunder, and any taxes and other lien which may be or become superior charges prior to the lien hereof or of such judgment or decree, provided such application is made prior this Mortgage which Mortgagee may deem it wise to foreclosure salepay. The Receiver shall also be authorized to collect from BMC, and (b) any deficiency upon a sale BMC agrees to pay, the fair rental value of BMC's use and deficiencyoccupancy of the Mortgaged Property.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, and Security Agreement (BMC Industries Inc/Mn/)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of any power of sale, instituting any judicial foreclosure or instituting any other foreclosure of the liens and security interests provided for herein or any other legal proceedings hereunder, make application, ex parte, to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Borrower does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed, provided, however, that the appointment of such receiver, would trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to receive payment of the Rents and Profits pursuant to other terms and provisions of this Mortgage or the Assignment. Any such receiver shall have all of the usual powers and duties of receivers in similar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Lender, continue until full payment of all of the indebtedness secured hereby or until title to the Property shall have passed by foreclosure sale under this Mortgage or deed in lieu of foreclosure. Lender shall also be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation appointment of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencycircumstances described in Section 5.2 hereof.

Appears in 1 contract

Samples: Mortgage (Craftmade International Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, instituting any judicial foreclosure or instituting any other foreclosure of the filing liens and security interests provided for herein or any other legal proceedings hereunder, make application to a court of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Property for the repayment of the Obligations or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder Person or Persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and (iii) during Borrower does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed; provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, statute or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents and Profits pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 7.3 of the Loan Agreement. Such receivership shall, at the option of Lender, continue until full payment of all of the indebtedness secured hereby or until title to the extent permitted Property shall have passed by law, the right to lease all foreclosure sale under this Security Instrument or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Global Self Storage, Inc.)

Appointment of Receiver. Upon If an Event of Default shall have occurred and be continuing, in addition to all other rights, powers and remedies herein conferred or at any time after conferred by operation of law, Secured Party shall (subject to applicable cure periods, including those set forth in Section 9.2 of the filing Loan Agreement) be entitled to the appointment of a complaint to foreclose this Mortgage, receiver of the court in which such complaint is filed Collateral without the necessity of the posting of a bond or notice; and shall, upon petition to the extent not prohibited by the Lenderapplicable law, appoint be entitled to such receiver as a receiver for the Premises in accordance with the applicable laws matter of the State of Arkansas. Such appointment may be made either before or after sale, without noticeright, without regard to the solvency or insolvency of Debtor, the Mortgagor at value or adequacy of the time Collateral or the Collateral being in danger of application for being materially injured or reduced in value as security by removal, destruction, deterioration, accumulation of prior liens or otherwise; and such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as by any court of competent jurisdiction upon ex parte application, and without notice, notice being expressly waived by Debtor to the extent such receiverwaiver is not prohibited by applicable law. Such Debtor does hereby consent to the appointment of such receiver or receivers, waives any and all defenses to such appointment, and agrees not to oppose any application therefor by Secured Party, and agrees that such appointment shall in no manner impair, prejudice or otherwise affect the rights of Secured Party under this Article 5. Nothing herein is to be construed to deprive Secured Party of any other right, remedy or privilege it may now or hereafter have under law to have a receiver appointed. Any money advanced by Secured Party in connection with any such receivership shall be a demand obligation owing by Debtor to Secured Party and shall bear interest, from the date of making such advancement until paid, at the Default Rate. Any such receiver shall have power to collect all powers conferred by the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of court appointing such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other which powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingshall, to the extent permitted not prohibited by lawapplicable law include, without limitation, the right to lease enter upon and take immediate possession of the Collateral or any part thereof, to exclude Debtor therefrom, to hold, use, operate, manage and control such Collateral, to make all such repairs, replacements, alterations, additions and improvements to the same as such receiver or Secured Party may deem proper or expedient, to lease, sell or otherwise transfer the Collateral or any portion thereof as such receiver or Secured Party may deem proper or expedient, to sell all of the Premises for a term that extends beyond Hydrocarbons included in the time same subject to the provisions of such receiver’s possession without obtaining prior court approval of such lease. The court from time Article 3 hereof, to time may authorize the application demand and collect all of the other earnings, rents, issues, profits, proceeds and other sums due or to become due with respect to such Collateral, accounting for only the net income received earnings arising therefrom after charging against the receipts therefrom all fees, costs, expenses, charges, damages and losses incurred by reason thereof plus interest thereon at the Default Rate without any liability to Debtor in connection therewith which net earnings shall be turned over by such receiver in to Secured Party to be applied by Secured Party to the payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to Obligations in the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyorder set forth in Section 5.10.

Appears in 1 contract

Samples: Loan Agreement (Synergy Resources Corp)

Appointment of Receiver. Upon Upon, or at any time after after, the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, shall appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and Property whenever the Lender hereunder or any other holder of the Note may be appointed as such receiverwhen entitled to possession so requests. Such receiver shall have all powers and duties prescribed by applicable law, including the power to collect make leases to be binding upon all parties, including the rentsMortgagor after redemption, issues the purchaser at a sale pursuant to a judgment of foreclosure and profits any person acquiring an interest in the mortgaged real estate after entry of a judgment of foreclosure. In addition, such receiver shall also have the following powers: (a) to extend or modify any then existing leases, which extensions and modifications may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the Premises (i) during Secured Indebtedness and beyond the pendency date of such foreclosure suit, (ii) in case the issuance of a sale deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and a deficiencyagreed that any such leases, during and the full statutory period of options or other such provisions to be contained therein, shall be binding upon Mortgagor and all persons whose interests in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding any redemption, whether there be redemption discharge of the mortgage indebtedness, satisfaction of any foreclosure judgment, or not, issuance of any certificate of sale or deed to any purchaser; and (iiib) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion whole of the Premises for a term that extends beyond the time period of such receiver’s possession without obtaining prior court approval of such leasereceivership. The court from time to time time, either before or after entry of judgment of foreclosure, may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Secured Indebtedness, or any amount found due or secured by amounts included in any judgment of foreclosure or decree foreclosing this Mortgage, or any tax, special assessment supplemental judgment or other lien item for which may be or become superior the Lender is authorized to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure salemake a Protective Advance, and (b) any the deficiency upon in case of a sale and deficiency.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Innovative Food Holdings Inc)

Appointment of Receiver. Upon Upon, or at any time after after, the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, shall appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasProperty whenever Mortgagee when entitled to possession so requests. Such appointment may be made either before or after sale, without notice, foreclosure sale pursuant to applicable law; without regard to the solvency or insolvency of the Mortgagor insolvency, at the time of application for such receiver and receiver, of the person or persons, if any, liable for the payment of the Secured Indebtedness; without regard to the value of the Premises Property at such time and whether or whether not the same shall be then is occupied as a homestead or not homestead; and without bond being required of the Lender hereunder applicant. Mortgagee or any other holder employee of the Note Mortgagee thereof may be appointed as such receiver. Such receiver shall have all powers and duties prescribed by applicable law, including the power to collect the rentstake possession, issues control, and profits care of the Premises (i) Property and to collect all rents thereof during the pendency of such foreclosure suitsuit and, (ii) in case the event of a sale and a deficiency, where Mortgagor has not waived its statutory rights of redemption, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorMortgagor or its devisees, but legatees, heirs, executors, administrators, legal representatives, successors, or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues and profitsthe power to make leases to be binding upon all parties, including the Mortgagor after redemption, the purchaser at a sale pursuant to a judgment of foreclosure and any person acquiring an interest in the mortgaged real estate after entry of a judgment of foreclosure. Such In addition, such receiver shall also have the following powers: (a) to extend or modify any then existing leases, which extensions and modifications may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the Secured Indebtedness and beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and agreed that any such leases, and the options or other such provisions to be contained therein, shall have be binding upon Mortgagor and all persons whose interests in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding any redemption, discharge of the mortgage indebtedness, satisfaction of any foreclosure judgment, or issuance of any certificate of sale or deed to any purchaser; and (b) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion whole of the Premises for a term that extends beyond the time period of such receiver’s possession without obtaining prior court approval of such leasereceivership. The court from time to time time, either before or after entry of judgment of foreclosure, may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Secured Indebtedness, or any amount found due or secured by amounts included in any judgment of foreclosure or decree foreclosing this Mortgage, or any tax, special assessment supplemental judgment or other lien item for which may be or become superior Mortgagee is authorized to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure salemake a protective advance, and (b) any the deficiency upon in case of a sale and deficiency.

Appears in 1 contract

Samples: Mortgage Agreement (Wilsons the Leather Experts Inc)

Appointment of Receiver. Upon or at any time after If an Event of Default shall have occurred and be continuing, and if (a) the filing Lease shall have been declared to be in default following the occurrence of a complaint Lease Event of Default thereunder pursuant to foreclose this MortgageArticle XIX thereof, or (b) the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws principal amount of all of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Secured Notes at the time Outstanding shall have been declared (or deemed to be declared) to be due and payable pursuant to Section 7.01, (i) the Indenture Trustee shall, to the extent permitted by law, be entitled to the appointment of application a trustee, liquidator, conservator or receiver for all or any part of the Estate, whether such receiver receivership be incidental to a proposed sale of the Estate or otherwise and without regard to the value of the Premises Estate or whether the same shall be then occupied as a homestead solvency of any Person or not Persons liable for the payment of the indebtedness secured hereby, without regard to the adequacy of security for the indebtedness secured hereby, and without regard for the Lender hereunder solvency of the Grantor, the Lessee or any other holder person, firm or other entity liable for the payment of the Note may be appointed as such indebtedness secured hereby, and without regard for any other statutory or common law requirements otherwise applicable to the appointment of a trustee, liquidator, conservator or receiver. Such receiver shall have power , and the Grantor hereby consents to collect the rents, issues and profits of the Premises (i) during the pendency appointment of such foreclosure suitreceiver and will not oppose any such appointment and agrees that such appointment shall in no manner impair, prejudice or otherwise affect the rights of Indenture Trustee or the Holders to application of Rents as provided in any Operative Document and (ii) immediately upon the commencement of any action, suit or other legal proceedings by the Indenture Trustee to obtain judgment for the indebtedness secured hereby, or of any other nature in case aid of a sale the enforcement of the Secured Notes or of this Indenture, the Grantor will (x) waive the issuance and a deficiencyservice of process and enter its voluntary appearance in such action, during the full statutory period of redemption, whether there be redemption suit or notproceeding, and (iiiy) during any further times when consent to the Mortgagorappointment of a receiver or receivers of the Estate and of all the earnings, but revenues, rents, issues, profits and income thereof. Nothing herein shall be deemed to require the commencement of a suit or the consent of the Grantor as a condition precedent for the intervention right of such receiverthe Indenture Trustee to the appointment of a receiver or the exercise of any other rights or remedies available to the Indenture Trustee. Notwithstanding the appointment of any receiver of the Grantor, would or of any of its property, or of the secured property or any part thereof, the Indenture Trustee shall be entitled to collect retain possession and control of all property now and hereafter covered by this Indenture. Nothing herein is to be construed to deprive the Indenture Trustee or any Holder of any other right, remedy or privilege it may have under the law to have a receiver appointed. Any money advanced by any Holder in connection with any such rents, issues and profits. Such receiver also receivership shall have all other powers and rights that may be necessary or are usual in such cases for a demand obligation (which obligation the protection, possession, control, management and operation of Grantor hereby promises to pay) owing by the Premises during said period, including, Grantor to the extent permitted by law, relevant Person or Persons with interest from the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencydate incurred.

Appears in 1 contract

Samples: Deed of Trust (American Financial Realty Trust)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderNoteholder, appoint a receiver for the Premises Mortgaged Property in accordance with the applicable laws of the State of ArkansasAct. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Maker at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not Mortgaged Property and the Lender Noteholder hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Mortgaged Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the MortgagorMaker, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Mortgaged Property during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises Mortgaged Property for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Mortgage, Security Agreement, and Financing Statement (TNP Strategic Retail Trust, Inc.)

Appointment of Receiver. (a) Upon or at any time after the filing occurrence and during the continuation of a complaint an Event of Default, Lender shall be entitled to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint immediate appointment of a receiver for the Premises in accordance with the applicable laws all or part of the State of Arkansas. Such appointment may be made either before or after saleCollateral, without notice, without regard whether such receivership is incidental to the solvency or insolvency a proposed sale of the Mortgagor at Collateral or otherwise. In such event, Lender may take proceedings in any court of competent jurisdiction for the time appointment of application for such a receiver and without regard to the value of the Premises Collateral or whether the same shall be then occupied as a homestead of any part thereof or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingmay, to the extent permitted by lawApplicable Law, by instrument in writing appoint any Person to be a receiver of the right Collateral or of any part thereof and may remove any receiver so appointed by Lxxxxx and appoint another in that Person's stead. Any such receiver appointed by instrument in writing shall, to lease the extent permitted by Applicable Law, have all of the rights, remedies, benefits and powers of Lender under this Agreement and, without limiting the generality of the foregoing, any such receiver (or Lender) shall have the power to, to the full extent permitted by Applicable Law: (i) take possession of the Collateral or any part thereof; (ii) carry on or concur in carrying on all or any portion part or parts of the Premises for a term that extends beyond business of Borrowers relating to the time Collateral; (iii) file such proofs of claim and other documents as may be necessary or advisable in order to have such receiver’s possession without obtaining prior court approval 's claim lodged in any bankruptcy, winding-up or other judicial proceedings relative to Borrowers; (iv) borrow money required for the seizure, repossession, retaking, repair, insurance, maintenance, preservation, protection, collection, preparation for disposition, disposition or realization of the Collateral or any part thereof and for the enforcement of this Agreement or for the carrying on of the business of Borrowers on the security of the Collateral in priority to the security interest created under this Agreement; and (v) sell, lease or otherwise dispose of, or concur in the sale, lease or other disposition of, the whole or any part of the Collateral at public auction, by public tender or by private sale, lease or other disposition, either for cash or upon credit, at such leasetime and upon such terms and conditions as the receiver may determine. (b) Any such receiver shall for all purposes be deemed to be the agent of the Borrowers. The court Lxxxxx may from time to time may authorize the application fix a commercially reasonable remuneration of the net income received by the receiver such receiver. Lender shall not in payment any way be responsible for any misconduct or negligence of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior such receiver. Each Borrower hereby consent to the lien hereof or appointment of any such judgment or decreea receiver without bond, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencythe full extent permitted by Applicable Law.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Quality Gold Holdings, Inc.)

Appointment of Receiver. Upon Default, the Bank may, with or at without entering into possession of the Lands or any time after part thereof, by instrument in writing appoint, or by application to a court of competent jurisdiction obtain an order for the filing appointment of a complaint Receiver of the Lands, or any part thereof, and of the rents and profits thereof, and with or without security, and may from time to foreclose this Mortgagetime, when the appointment of the Receiver is by instrument in writing, by similar writing remove any such Receiver and appoint another in its place and stead, and in making such appointment or removal, the court in which Bank shall be deemed to be acting as the agent or attorney for the Borrower, but no such complaint is filed shall, upon petition appointment shall be revocable by the LenderBorrower. Upon the appointment of any such Receiver from time to time the following provisions apply, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard subject to the solvency or insolvency provisions of the Mortgagor at the time Section 60 of application for such receiver and without regard this set of mortgage covenants: (a) The Receiver shall have unlimited access to the value Lands (which right of access shall not be revocable by the Premises or whether the same shall be then occupied as a homestead or not Borrower) and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have full power to collect the rents, issues and profits of the Premises unlimited authority to: (i) during collect all rents and profits falling due in respect of the pendency of such foreclosure suitLands, or any part thereof; (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption lease or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or sublease any portion of the Premises Lands on such terms and conditions as the Receiver considers advisable and enter into and execute any leases of the Lands or any part thereof, and accept surrenders of and terminate any such leases; (iii) complete any unfinished construction upon the Lands, including construction of any building or buildings or other structures, improvements or Fixtures, and take possession of and use any materials, supplies, plans, tools or equipment on the Lands; (iv) manage, operate, alter, repair, maintain in good condition, or extend the Lands or any part thereof; (v) sell or grant options to purchase the Lands, or any part thereof, by public auction or private sale, on such terms as to credit or otherwise and with or without security as shall appear most advantageous to the Receiver; (vi) rescind or vary any contract or agreement of sale or lease of the Lands; (vii) borrow such sum or sums as will, in the opinion of the Receiver, be required for the purposes of carrying out the Receiver’s duties; (viii) employ such assistants as the Receiver may consider necessary for carrying out the Receiver’s duties; and (ix) perform such other acts and duties and incur any other expense that, in the Receiver’s opinion, will maintain, preserve or increase the value or income potential of the Lands or that is authorized by a term that extends beyond court order appointing the time of such receiver’s possession without obtaining prior court approval of such leaseReceiver. The court from time Borrower undertakes to time ratify and confirm whatever the Receiver may authorize the application do in respect of the net income Lands. (b) The Bank at its discretion may vest the Receiver with all or any of the rights and powers of the Bank. (c) The Bank may fix the remuneration of the Receiver and such remuneration, together with all costs, charges and expenses of the Receiver and the Receiver’s borrowings, if any, required for the purposes of carrying out the Receiver’s duties under this Charge, shall be payable immediately on demand by the Borrower, be added to the monies secured by the Charge, bear interest as set out in Section 4 of this set of mortgage covenants and, together with such interest, form a charge on the Lands. (d) In all instances, the Receiver shall be deemed to be the attorney or agent of the Borrower and not of the Bank and the Bank shall not be responsible for the acts and omissions of the Receiver. (e) The appointment of any Receiver by the Bank shall not result in or create any liability or obligation on the part of the Bank to the Receiver or the Borrower or to any other Person in any respect, including, without limitation, for the Receiver’s remuneration, costs, charges and expenses and no appointment or removal of a Receiver and no actions of a Receiver shall render the Bank a chargee or mortgagee in possession of the Lands; (f) The Bank shall not be accountable for any monies received by the receiver Receiver except to the extent the Bank actually receives the monies. No Receiver shall be liable to the Borrower to account for monies other than monies actually received by the Receiver in payment respect of the Lands or any part thereof and out of such monies so received every Receiver shall, subject to applicable Laws, pay in the following order: (ai) all the Receiver’s remuneration; (ii) all costs, charges and expenses of every nature and kind incurred by the Receiver in connection with the management, operation, repair, alteration or extension of the Lands or any part thereof; (iii) all amounts required to keep any encumbrances ranking in priority to the Charge in good standing, and all Taxes, insurance premiums and other proper expenditures made or incurred by the Receiver in respect of the Lands or any part thereof; (iv) the IndebtednessLiabilities, whether due or not, to be paid in such order as the Bank in its sole discretion shall determine; and (v) any surplus, subject to the rights of other creditors, to the Borrower. (g) Save as to claims for accounting under Subsection 24(f), the Borrower hereby releases and discharges the Bank and every Receiver from every claim of every nature which may arise or be caused to the Borrower or any amount found due Person claiming through or secured under the Charge by any judgment reason or decree foreclosing as a result of anything done by the Bank or Receiver under the provisions of this MortgageSection 24, unless such claim is the direct and proximate result of dishonesty or any tax, special assessment fraud. (h) The statutory declaration of an officer or other lien which may be or become superior agent of the Bank as to default under the provisions of the Charge and as to the lien hereof or due appointment of the Receiver pursuant to the Charge shall be sufficient proof thereof for the purposes of any Person dealing with a Receiver and such judgment or decree, provided such application is made prior dealing shall be deemed to foreclosure sale, be valid and effectual notwithstanding any contrary assertion by the Borrower. (bi) The rights and powers conferred in the Charge in respect of the Receiver are in addition to and not in substitution of any deficiency upon a sale other rights and deficiencypowers which the Bank may have.

Appears in 1 contract

Samples: Mortgage Agreement

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws law of the State of ArkansasConnecticut. Such appointment may be made either before or after sale, without noticeupon notice to the extent required by applicable law, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits rents of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (General Datacomm Industries Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating the filing exercise of a complaint to foreclose this Mortgageany power of sale, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws instituting any judicial foreclosure or instituting any other foreclosure of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application liens and security interests provided for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder herein or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includinglegal proceedings hereunder, to the extent permitted by law, the right make application to lease a court of competent jurisdiction for appointment of a receiver for all or any portion part of the Premises Property, as a matter of strict right and without notice to Borrower and without regard to the adequacy of the Property for the repayment of the Debt or the solvency of Borrower or any person or persons liable for the payment of the Debt, and Bxxxxxxx does hereby irrevocably consent to such appointment, waive any and all notices of and defenses to such appointment and agree not to oppose any application therefor by Lxxxxx, but nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the law to have a term receiver appointed, provided, however, that extends beyond the time appointment of such receiver’s possession without obtaining prior , trustee or other appointee by virtue of any court approval order, statute or regulation shall not impair or in any manner prejudice the rights of such lease. The court from time Lender to time may authorize the application receive payment of the net income received by Rents and Profits pursuant to other terms and provisions hereof. Any such receiver shall have all of the usual powers and duties of receivers in similar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 5.3 below. Such receivership shall, at the option of Lender, continue until full payment of (a) all of the Indebtedness, Debt or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof Property shall have passed by foreclosure sale under this Deed of Trust or deed in lieu of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing (NNN Apartment REIT, Inc.)

Appointment of Receiver. Upon or at any time after the filing If an Event of a complaint to foreclose this MortgageDefault shall have occurred and be continuing, the court in which such complaint is filed Mortgagee shall, upon petition by as a matter of right, be entitled to the Lender, appoint appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Mortgaged Property, whether such receivership be incidental to an action of Arkansasforeclosure or otherwise, and the Mortgagor hereby consents to the appointment of such a receiver and will not oppose any such appointment. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises Mortgaged Property or whether the same shall be then occupied as a homestead or not not, and the Lender hereunder Mortgagee or any other holder of the Note person may be appointed as such receiver. Such receiver shall have the power to collect the rents, issues and profits of the Premises (i) Mortgaged Property during the pendency of such foreclosure suitsuit and, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, if any, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Mortgaged Property during the whole of said period, . All sums paid by such receiver and all costs and expenses (including, to without limitation, reasonable attorneys' fees) incurred by such receiver in exercising such powers, together with interest thereon at the extent permitted highest rate then borne by law, the right to lease all or any portion of the Premises for a term that extends beyond Notes from the time date of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtednessor incurring, or any amount found due or shall constitute additional indebtedness secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Leasehold Mortgage, Security Agreement, Assignment of Leases Rents and Profits and Fixture Financing Statement (New Horizons of Yonkers Inc)

Appointment of Receiver. Upon If an Event of Default shall have occurred and be continuing, Beneficiary, as a matter of right and without notice to Trustor or at any time after the filing of a complaint to foreclose this Mortgageanyone claiming under Trustor, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises Trust Estate or whether the same interest of Trustor therein, shall be then occupied as have the right to apply to any court having jurisdiction to appoint a homestead receiver or not and the Lender hereunder or any other holder receivers of the Note may be appointed Trust Estate, and Trustor hereby irrevocably consents to such appointment and waives notice of any application therefor. Any such receiver or receivers shall have all the usual powers and duties of receivers in like or similar cases and all the powers and duties of Beneficiary in case of entry as provided in Paragraph 0 and shall continue as such receiver. Such receiver shall have power to collect and exercise all such powers until the rents, issues and profits later of the Premises (i) during the pendency date of such foreclosure suit, confirmation of sale of the Trust Estate; (ii) the disbursement of all proceeds of the Trust Estate collected by such receiver and the payment of all expenses incurred in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption connection therewith; or not, and (iii) during any further times when the Mortgagor, but for the intervention termination of such receiverreceivership with the consent of Beneficiary or pursuant to an order by a court of competent jurisdiction. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, would and each of them, shall be entitled to collect enforce payment and performance of any of the Secured Obligations and to exercise all rights and powers under this Deed of Trust or under any of the other Loan Documents or other agreement or any laws now or hereafter in force, notwithstanding that some or all of the Indebtedness and Secured Obligations may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement, whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Beneficiary or Trustee in such rentsorder and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, issues but each shall be cumulative and profitsshall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Such receiver also Every power or remedy given by any of the Loan Documents to Trustee or Beneficiary, or to which either of them may be otherwise entitled, may be exercised concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary, and either of them may pursue inconsistent remedies. ACCOMMODATION DEED OF TRUST. With respect to any Trustor under this Deed of Trust who is not obligated to repay the Indebtedness, such Trustor: Authorizes Beneficiary without notice or demand and without affecting the security granted hereunder, from time to time to renew, compromise, extend, accelerate or otherwise change the time for payment of or otherwise change the terms of the indebtedness secured hereby, or any part thereof, including increase or decrease of the rate of interest thereon; Waives any right to require Beneficiary to proceed against the persons liable for the Indebtedness secured hereby, to proceed against or exhaust any other security securing the Secured Obligations secured hereby or to pursue any other remedy in Beneficiary's power whatsoever; Waives any defense arising by reason of any disability, other defense, or the cessation from any cause whatsoever of the liability of any person liable for the Indebtedness secured hereby. Until all indebtedness secured by this Deed of Trust shall have all other powers been paid in full, and rights that no commitment on the part of the Beneficiary to make future advances or extend credit either to Trustor or a third party exists, Trustor shall have no right of subrogation, and waives any right to enforce any remedy which Beneficiary now has or may be necessary or are usual in such cases hereafter have against any person liable for the protectionIndebtedness, possessionand waives any benefit of, control, management any right to participate in any security now or hereafter held by Beneficiary and operation without limiting the generality of the Premises during said periodforegoing, includingTrustor specifically waives and relinquishes as against Beneficiary any defense or benefit otherwise available to Trustor should Beneficiary make an election of remedies as against any person liable for the Indebtedness (and irrespective of the circumstances or manner in which or whereby such election is made) which destroys or impairs Trustor's subrogation rights or rights to proceed against any person liable for the indebtedness secured hereby for reimbursement and, further, to the extent permitted Trustor may be deemed a guarantor hereunder, such guarantor waives all rights and defenses arising out of an election of remedies by lawthe creditor, even though that election of remedies, such as non-judicial foreclosure with respect to security for a guaranteed obligation, has destroyed the right to lease all or any portion guarantor's rights of subrogation and reimbursement against the principal by the operation of Section 580d of the Premises California Code of Civil Procedure or otherwise. Trustor assumes the responsibility for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application being and keeping himself informed of the net income received by financial condition of any person liable for the receiver in payment indebtedness secured hereby and of (a) all other circumstances bearing upon the Indebtedness, or any amount found due or risk of nonpayment of the indebtedness secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien hereby which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure salediligent inquiry would reveal, and (b) any deficiency upon a sale and deficiencyagrees that Beneficiary shall have no duty to advise Trustor of information known to it regarding such condition or circumstances.

Appears in 1 contract

Samples: Note Secured by Deed of Trust (United Natural Foods Inc)

Appointment of Receiver. Upon or at The Lender may, during a Default Period, in addition to any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lenderother rights it may have, appoint by instrument in writing a receiver, monitor, consultant, liquidator or receiver and manager (all of which are herein called a “Receiver”) of all or any part of the Collateral or may institute proceedings in any court of competent jurisdiction for the Premises in accordance with the applicable laws appointment of the State of Arkansassuch a Receiver. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for Any such receiver Receiver is hereby given and without regard to the value of the Premises or whether shall have the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary and exclusions and limitations of liability as the Lender has under this Agreement, at law or are usual in equity. In exercising any such cases for the protectionpowers, possession, control, management and operation of the Premises during said period, includingany such Receiver shall, to the extent permitted by applicable law, act as and for all purposes be deemed to be the right to lease all or any portion agent of the Premises Borrower, and the Lender shall not be responsible for a term any act or default of any such Receiver, except for any act or default that extends beyond results from the time gross negligence or wilful misconduct of such receiver’s possession without obtaining prior court approval of Receiver. During a Default Period, Lender may appoint one or more Receivers hereunder and may remove any such lease. The court Receiver or Receivers and appoint another or others in his or their stead from time to time time. Any Receiver so appointed may authorize the application be an officer or employee of the net income received Lender, except as prohibited under applicable law. A court need not appoint, ratify the appointment by the receiver Lender of or otherwise supervise in payment any manner the actions of (a) any Receiver, except as required under applicable law. Upon the IndebtednessBorrower receiving notice from the Lender of the taking of possession of the Collateral or the appointment of a Receiver, or any amount found due or secured by any judgment or decree foreclosing this Mortgageall powers, or any taxfunctions, special assessment or other lien which may be or become superior rights and privileges of the Borrower and, to the lien hereof or extent permitted by applicable law, its directors and officers with respect to the Collateral shall cease, unless specifically continued by the written consent of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencythe Lender.

Appears in 1 contract

Samples: General Security Agreement (Physicians Formula Holdings, Inc.)

Appointment of Receiver. Upon the occurrence and during the continuance of an Event of Default, subject to the terms of the Intercreditor Agreement, the Agent shall be entitled, without additional notice and without regard to the adequacy of any security for the Indebtedness secured hereby, whether the same shall then be occupied as a homestead or at not, or the solvency of any time after party bound for its payment, to make application for the filing appointment of a complaint receiver to foreclose this Mortgagetake possession of and to operate the Premises, and to collect the court in rents, issues, profits, and income thereof, all expenses of which such complaint is filed shall, upon petition by shall be added to the Lender, appoint a Indebtedness and secured hereby. The receiver shall have all the rights and powers provided for under the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after saleGeorgia, including without noticelimitation, without regard the power to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not execute leases, and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues sales proceeds, issues, profits and profits proceeds of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorGrantor, but its successors or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues sales proceeds, issues, proceeds and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period. Receiver’s fees, includingreasonable attorneys’ fees and costs incurred in connection with the appointment of a receiver pursuant to this Section 5.2 shall be secured by this Security Deed. Notwithstanding the appointment of any receiver, trustee or other custodian, the Agent shall be entitled to retain possession and control of any cash or other instruments at the time held by or payable or deliverable under the terms of the Security Deed to the Agent to the fullest extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Credit Agreement (Nci Building Systems Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasAct. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Construction Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Textura Corp)

Appointment of Receiver. Upon or If, at any time after the filing of a complaint to foreclose this Mortgagedefault hereunder, the court Lender deems, in which such complaint is filed shallLender’s sole discretion, upon petition by the Lender, appoint that a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment receivership may be made either necessary to protect the Property or its Rents, whether before or after sale, without notice, without regard to the solvency or insolvency maturity of the Mortgagor Note and whether before or at the time of application for such receiver or after the institution of foreclosure or suit to collect the Loan or to enforce this Mortgage or any of the other Loan Documents, Lender, as a matter of strict right and without regard to regardless of the value of the Premises Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application and without notice to anyone, and by any court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Property, to collect the rentsRents thereof, issues to make all necessary and profits needful repairs, and to pay all taxes, assessments, insurance premiums and other such charges against and expenses of the Premises (i) during Property, and to do such other acts as may by such court be authorized and directed, and after payment of the pendency expenses of the receivership and the management of the Property, to apply the net proceeds of such foreclosure suitreceivership in reduction of the Loan or in such other manner as the said court shall direct notwithstanding the fact that the amount owing thereon may not then be due and payable or the said Loan is otherwise adequately secured. Such receivership shall, (ii) in case at the option of Lender, continue until full payment of all sums hereby secured or until title to the Property shall have passed by sale under this Mortgage. Borrower hereby specifically waives its right to object to the appointment of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notreceiver as aforesaid, and (iii) during any further times when the Mortgagor, but for the intervention hereby expressly agrees that such appointment shall be made as an admitted equity and as a matter of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the absolute right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLender.

Appears in 1 contract

Samples: Mortgage Modification and Amended and Restated Mortgage and Security Agreement (Inland Western Retail Real Estate Trust Inc)

Appointment of Receiver. Upon Upon, or at any time after the filing of a complaint an action to foreclose this Mortgage, the court in which such complaint action is filed shall, upon petition by the Lender, may appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder agent of the Note Mortgagee may be appointed as such receiver. Such receiver shall have power power: (a) to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) suit as well as during any further other times when the Mortgagor, but Mortgagor except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also ; (b) to extend or modify any then existing leases and agreements and to make new leases and agreements, which extensions, modifications and new leases and agreements may provide for terms to expire, beyond the date of the issuance of a deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and agreed that any such leases and agreements, and the options or other such provisions to be contained therein, shall have be binding upon Mortgagor and all persons whose interests in the Premises are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure decree or deficiency judgment, or issuance of any xxxx of sale or deed to any purchaser; and (c) all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time whole of such receiver’s possession without obtaining prior court approval of such leaseperiod. The court from time to time may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, ; and (b) any the deficiency upon judgment, in case of a foreclosure sale and deficiencydeficiency judgment.

Appears in 1 contract

Samples: Reimbursement Agreement (Lannett Co Inc)

Appointment of Receiver. Upon Default, the Bank may, with or at without entering into possession of the Lands or any time after part thereof, by instrument in writing appoint, or by application to a court of competent jurisdiction obtain an order for the filing appointment of a complaint Receiver of the Lands, or any part thereof, and of the rents and profits thereof, and with or without security, and may from time to foreclose this Mortgagetime, when the appointment of the Receiver is by instrument in writing, by similar writing remove any such Receiver and appoint another in its place and stead, and in making such appointment or removal, the court in which Bank shall be deemed to be acting as the agent or attorney for the Borrower, but no such complaint is filed shall, upon petition appointment shall be revocable by the Lender, appoint a receiver for Borrower. Upon the Premises in accordance with appointment of any such Receiver from time to time the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard following provisions apply: (a) The Receiver shall have unlimited access to the solvency or insolvency Lands (which right of access shall not be revocable by the Mortgagor at the time of application for such receiver Borrower) and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have full power to collect the rents, issues and profits of the Premises unlimited authority to: (i) during collect all rents and profits falling due in respect of the pendency of such foreclosure suitLands, or any part thereof; (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption lease or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or sublease any portion of the Premises for a term that extends beyond Lands on such terms and conditions as the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application Receiver considers advisable and enter into and execute any leases of the net Lands or any part thereof, and accept surrenders of and terminate any such leases; (iii) complete any unfinished construction upon the Lands, including construction of any building or buildings or other structures, improvements or Fixtures, and take possession of and use any materials, supplies, plans, tools or equipment on the Lands; (iv) manage, operate, alter, repair, maintain in good condition, or extend the Lands or any part thereof; (v) sell or grant options to purchase the Lands, or any part thereof, by public auction or private sale, on such terms as to credit or otherwise and with or without security as shall appear most advantageous to the Receiver; (vi) rescind or vary any contract or agreement of sale or lease of the Lands; (vii) borrow such sum or sums as will, in the opinion of the Receiver, be required for the purposes of carrying out the Receiver’s duties; (viii) employ such assistants as the Receiver may consider necessary for carrying out the Receiver’s duties; and (ix) perform such other acts and duties and incur any other expense that, in the Receiver’s opinion, will maintain, preserve or increase the value or income potential of the Lands or that is authorized by a court order appointing the Receiver. (b) The Bank at its discretion may vest the Receiver with all or any of the rights and powers of the Bank. (c) The Bank may fix the remuneration of the Receiver and such remuneration, together with all costs, charges and expenses of the Receiver and the Receiver’s borrowings, if any, required for the purposes of carrying out the Receiver’s duties under this Charge, shall be payable immediately on demand by the Borrower, be added to the monies secured by the Charge, bear interest as set out in Section 4 of this set of mortgage covenants and, together with such interest, form a charge on the Lands. (d) In all instances, the Receiver shall be deemed to be the attorney or agent of the Borrower and not of the Bank and the Bank shall not be responsible for the acts and omissions of the Receiver. (e) The appointment of any Receiver by the Bank shall not result in or create any liability or obligation on the part of the Bank to the Receiver or the Borrower or to any other Person in any respect, including, without limitation, for the Receiver’s remuneration, costs, charges and expenses and no appointment or removal of a Receiver and no actions of a Receiver shall render the Bank a chargee or mortgagee in possession of the Lands; (f) The Bank shall not be accountable for any monies received by the receiver Receiver except to the extent the Bank actually receives the monies. No Receiver shall be liable to the Borrower to account for monies other than monies actually received by the Receiver in payment respect of the Lands or any part thereof and out of such monies so received every Receiver shall, subject to applicable Laws, pay in the following order: (ai) all the Receiver’s remuneration; (ii) all costs, charges and expenses of every nature and kind incurred by the Receiver in connection with the management, operation, repair, alteration or extension of the Lands or any part thereof; (iii) all amounts required to keep any encumbrances ranking in priority to the Charge in good standing, and all Taxes, insurance premiums and other proper expenditures made or incurred by the Receiver in respect of the Lands or any part thereof; (iv) the IndebtednessLiabilities, whether due or not, to be paid in such order as the Bank in its sole discretion shall determine; and (v) any surplus, subject to the rights of other creditors, to the Borrower. (g) Save as to claims for accounting under Subsection 24(f), the Borrower hereby releases and discharges the Bank and every Receiver from every claim of every nature which may arise or be caused to the Borrower or any amount found due Person claiming through or secured under the Charge by any judgment reason or decree foreclosing as a result of anything done by the Bank or Receiver under the provisions of this MortgageSection 24, unless such claim is the direct and proximate result of dishonesty or any tax, special assessment fraud. (h) The statutory declaration of an officer or other lien which may be or become superior agent of the Bank as to default under the provisions of the Charge and as to the lien hereof or due appointment of the Receiver pursuant to the Charge shall be sufficient proof thereof for the purposes of any Person dealing with a Receiver and such judgment or decree, provided such application is made prior dealing shall be deemed to foreclosure sale, be valid and effectual notwithstanding any contrary assertion by the Borrower. (bi) The rights and powers conferred in the Charge in respect of the Receiver are in addition to and not in substitution of any deficiency upon a sale other rights and deficiencypowers which the Bank may have.

Appears in 1 contract

Samples: Mortgage Agreement

Appointment of Receiver. Upon If an event of default under this Mortgage occurs and is continuing, Mortgagee, as a matter of right and without notice to Mortgagor or at any time after the filing of a complaint to foreclose this Mortgageanyone claiming under Mortgagor, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises or whether the same interest of Mortgagor therein, shall be then occupied as have the right to apply to any court having jurisdiction to appoint a homestead receiver or not and the Lender hereunder or any other holder receivers of the Note may be appointed as Premises, and Mortgagor hereby irrevocably consents to such receiverappointment and waives notice of any application therefor. Such Any such receiver or receivers shall have all the usual powers and duties of receivers in like or similar cases including the power to collect the rents, issues and profits of the Premises (i) during the pendency of such a foreclosure suit, (ii) and in case of a sale and a deficiency, deficiency during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time having jurisdiction may authorize the application of receiver to apply the net income received by the receiver in his hands to payment of in whole or in part to (ai) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, ; and (bii) any the deficiency upon in case of a sale and deficiency. Said receiver shall continue as such and exercise all such powers until the date of sale of the Premises, unless such receivership is sooner terminated. Mortgagee hereunder may be appointed as such receiver.

Appears in 1 contract

Samples: Leasehold Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Financing Statement (Intrepid Technology & Resources, Inc.)

Appointment of Receiver. Upon or at any time after the filing occurrence of an Event of Default, Mortgagee may apply to the court and shall be entitled to receive appointment of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, Property without regard to the solvency or insolvency waste, adequacy of the Mortgagor at the time of application for such receiver and without regard to the value security or solvency of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiverMortgagor. Such receiver shall have all powers and duties prescribed by applicable law, including the power to collect make leases to be binding upon all parties, including the rentsMortgagor after redemption, issues the purchaser at a sale pursuant to a judgment of foreclosure and profits any person acquiring an interest in the Property after entry of a judgment of foreclosure. In addition, such receiver shall also have the following powers: (a) to extend or modify any then existing leases, which extensions and modifications may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the Premises (i) during Secured Indebtedness and beyond the pendency date of such foreclosure suit, (ii) in case the issuance of a sale deed or deeds to a purchaser or purchasers at a foreclosure sale, it being understood and a deficiencyagreed that any such leases, during and the full statutory period of options or other such provisions to be contained therein, shall be binding upon Mortgagor and all persons whose interests in the Property are subject to the lien hereof and upon the purchaser or purchasers at any foreclosure sale, notwithstanding any redemption, whether there be redemption discharge of the indebtedness, satisfaction of any foreclosure judgment, or not, issuance of any certificate of sale or deed to any purchaser; and (iiib) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises Property during said period, including, to the extent permitted by law, the right to lease all or any portion whole of the Premises for a term that extends beyond the time period of such receiver’s possession without obtaining prior court approval of such leasereceivership. The court from time to time time, either before or after entry of judgment of foreclosure, may authorize the application of receiver to apply the net income received by the receiver in his hands in payment of in whole or in part of: (a) the Secured Indebtedness, or any amount found due or secured by amounts included in any judgment of foreclosure or decree foreclosing this Mortgage, or any tax, special assessment supplemental judgment or other lien item for which may be or become superior Mortgagee is authorized to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure salemake a protective advance, and (b) any the deficiency upon in case of a sale and deficiency.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents and Financing Statement (Wilsons the Leather Experts Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose (or partially foreclose) this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the MortgagorXxxxxxxxx, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s 's possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtednessindebtedness secured hereby, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Mortgage Note (Goss Graphic Systems Inc)

Appointment of Receiver. Upon or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPennsylvania statutes. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency. Mortgagor hereby specifically waives the right to object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment may be done without notice to Mortgagor.

Appears in 1 contract

Samples: Open End Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Wells Mid-Horizon Value-Added Fund I LLC)

Appointment of Receiver. Upon or at any time after the occurrence of an Event of Default and the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the LenderMortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansaslaw. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note Notes may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Mortgage (American Medical Systems Holdings Inc)

Appointment of Receiver. Upon or any Default, Mortgagee shall be entitled without notice to Mortgagor to apply at any time after to a court having jurisdiction thereof for the filing appointment of a complaint to foreclose this Mortgagereceiver of the Mortgaged Property or any part thereof and of all rents, incomes, profits, issues and revenues thereof, from whatever source derived; and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith appoint such receiver with the usual powers and duties of receivers in which such complaint is filed shall, upon petition like cases; and said appointment shall be made by the Lendercourt ex parte as a matter of strict right to Mortgagee, appoint a receiver for and without reference to the Premises in accordance with the applicable laws adequacy or inadequacy of the State value of Arkansas. Such appointment may be made either before the Mortgaged Property, or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as party defendant to such receiversuit. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, Mortgagor hereby specifically waives the right to lease object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment shall be made ex parte and without notice to Mortgagor as an admitted equity and as a matter of absolute right to Mortgagee. In order to maintain and preserve the Mortgaged Property and to prevent waste and impairment of its security, Mortgagee may, at its option, advance monies to the appointed receiver and all or any portion of such sums advanced shall become Secured Obligations and shall bear interest from the Premises for a term that extends beyond the time date of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize advance at the application of delinquent rate specified in the net income received by Notes or, if no delinquent rate is specified, then at the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyNotes rate.

Appears in 1 contract

Samples: Restructure Agreement (Peak Resorts Inc)

Appointment of Receiver. Upon or at any time after the filing of a any complaint to foreclose the lien of this Mortgage, the court in which such complaint is filed shallmay, upon petition by the Lenderapplication, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasMortgaged Property. Such appointment may be made either before or after foreclosure sale, without notice, ; without regard to the solvency or insolvency of the Mortgagor insolvency, at the time of application for such receiver and receiver, of the person or persons, if any, liable for the payment of the indebtedness secured hereby; without regard to the value of the Premises Mortgaged Property at such time and whether or whether not the same shall be is then occupied as a homestead or not homestead; and the Lender hereunder or any other holder without bond being required of the Note may be appointed as such receiverapplicant. Such receiver shall have the power to take possession, control, and care of the Mortgaged Property and to collect the all rents, issues issues, deposits, and profits of the Premises (i) avails thereof during the pendency of such foreclosure suitsuit and, (ii) in case the event of a sale and a deficiencydeficiency where Mortgagor has not waived its statutory rights of redemption, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the MortgagorMortgagor or its devisees, but legatees, heirs, executors, administrators, legal representatives, successors, or assigns, except for the intervention of such receiver, would be entitled to collect such rents, issues issues, deposits, profits, and profits. Such receiver also avails, and shall have all other powers and rights that may be necessary or are usual useful in such cases for the protection, possession, control, management management, and operation of the Premises Mortgaged Property during said the whole of any such period, including, to . To the extent permitted by law, such receiver may be authorized by the right court to lease all extend or modify any then existing leases and to make new leases of the Mortgaged Property or any portion part thereof, which extensions, modifications, and new leases may provide for terms to expire, or for options to lessees to extend or renew terms to expire, beyond the maturity date of the Premises for a term indebtedness secured hereby, it being understood and agreed that extends beyond any such leases, and the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment options or other lien which may such provisions to be or become superior contained therein, shall be binding upon Mortgagor and all persons whose interests in the Mortgaged Property are subject to the lien hereof hereof, and upon the purchaser or of purchasers at any such judgment or decree, provided such application is made prior to foreclosure sale, and (b) notwithstanding any deficiency upon a redemption from sale, discharge of indebtedness, satisfaction of foreclosure decree, or issuance of certificate of sale and deficiencyor deed to any purchaser.

Appears in 1 contract

Samples: Mortgage (Material Sciences Corp)

Appointment of Receiver. Upon or at any time after To the filing extent permitted by law, Mortgagee shall be entitled, as a matter of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver absolute right and without regard to the value of any security for the Premises Secured Obligations or whether the same shall be then occupied as solvency of any person liable therefor, to the appointment of a homestead receiver for the Property upon ex-parte application to any court of competent jurisdiction. Mortgagor waives any right to any hearing or not and notice of hearing prior to the Lender hereunder or any other holder appointment of the Note may be appointed as such a receiver. Such receiver and its agents shall have power be empowered to (a) take possession of the Property and any businesses conducted by Mortgagor or any other person thereon and any business assets used in connection therewith, (b) exclude Mortgagor and Mortgagor's agents, servants, and employees from the Property, (c) collect the rents, issues issues, profits, and profits income therefrom, (d) complete any construction which may be in progress, (e) do such maintenance and make such repairs and alterations as the receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the Premises (i) during the pendency of such foreclosure suitreceivership estate, (iig) in case of a sale pay all taxes and a deficiencyassessments against the Property and the Chattels, during the full statutory period of redemptionall premiums for insurance thereon, whether there be redemption all utility and other operating expenses, and all sums due under any prior or notsubsequent encumbrance, and (iiih) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual generally do anything which Mortgagor could legally do if Mortgagor were in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseProperty. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including attorneys' fees incurred by the receiver and by Mortgagee, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Secured Obligations in payment such order or manner as Mortgagee may in its sole discretion elect or in such other manner as the court may direct. Unless sooner terminated with the express consent of (a) Mortgagee, any such receivership will continue until the IndebtednessSecured Obligations have been discharged in full, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof or of such judgment or decree, provided such application is made prior to Property has passed after foreclosure sale, and (b) any deficiency upon a sale and deficiencyall applicable periods of redemption have expired.

Appears in 1 contract

Samples: Open End Mortgage (Mark Centers Trust)

Appointment of Receiver. Upon or That if, at any time after a default hereunder that is not cured within the filing applicable grace period, if any, is continuing, in the opinion of the Lender, a complaint receivership may be necessary to foreclose protect the Mortgaged Property, or its rents, issues, revenue, profits or proceeds, whether before or after maturity of the indebtedness secured hereby and whether before or at the time of or after the institution of suit to collect such indebtedness, or to enforce this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint as a receiver for the Premises in accordance with the applicable laws matter of the State strict right and regardless of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises Mortgaged Property or whether the same shall be then occupied as a homestead or not and the Lender amounts due hereunder or any other holder secured hereby, or of the Note may be appointed as solvency of any party bound for the payment of such receiver. Such receiver indebtedness, shall have power the right, upon ex parte application, without notice to anyone, and by any Court having jurisdiction, to the appointment of a receiver to take charge of, manage, preserve, protect and operate the Mortgaged Property, to collect the rents, issues issues, revenues, profits, proceeds and profits income thereof, to make all necessary and needful repairs, and to pay all taxes, assessments and charges against said property and all premiums for insurance thereon, and to do such other acts as may by such court be authorized and directed, and after payment of the Premises (i) during expenses of the pendency receivership and the management of the Mortgaged Property to apply the net proceeds of such foreclosure suitreceivership in reduction of the indebtedness secured hereby or in such other manner as the Court shall direct. Such receivership shall, (ii) in case at the option of Lender, continue until full payment of all sums hereby secured, or until title to the Mortgaged Property shall have passed by sale under this Mortgage. Borrower hereby specifically waives its right to object to the appointment of a sale receiver as aforesaid and hereby expressly agrees that such appointment shall be made as an admitted equity and as a deficiency, during the full statutory period matter of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, absolute right to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyLender.

Appears in 1 contract

Samples: Mortgage and Security Agreement (CNL Retirement Properties Inc)

Appointment of Receiver. Upon Upon, or at any time after prior or after, initiating a Public Trustee foreclosure, instituting any judicial foreclosure or instituting any other foreclosure of the filing liens and security interests provided for herein or any other legal proceedings hereunder, make application, ex-parte, to a court of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Grantor and without regard to the value adequacy of the Premises Property for the repayment of the indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Grantor or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notindebtedness secured hereby, and Grantor hereby irrevocably consents to such appointment, waives any and all notices of and defenses to such appointment (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by applicable law) and agrees not to oppose any application therefor by Beneficiary, but nothing herein is to be construed to deprive Beneficiary of any other right, remedy or privilege Beneficiary may now have under the right law to lease all or any portion of have a receiver appointed, provided, however, that the Premises for a term that extends beyond the time appointment of such receiver’s possession without obtaining prior , trustee or other appointee by virtue of any court approval order, statute or regulation shall not impair or in any manner prejudice the rights of such lease. The court from time Beneficiary to time may authorize the application receive payment of the net income received by Rents and Profits pursuant to other terms and provisions of this Deed of Trust or the Assignment. Any such receiver shall have all of the usual powers and duties of receivers in similar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Section 3.3 below. Such receivership shall, at the option of Beneficiary, continue until full payment of (a) all of the Indebtedness, indebtedness secured hereby or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof Property shall have passed by foreclosure sale under this Deed of Trust or deed in lieu of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Grubb & Ellis Healthcare REIT II, Inc.)

Appointment of Receiver. Upon After the occurrence of one or at any time after more Defaults Mortgagee may apply for the filing appointment of a complaint to foreclose this Mortgagereceiver of the Property, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect and/or the rents, issues royalties, revenue, income, issues, and profits of all or any part of the Premises (i) during Property from whatever source derived and thereupon it is hereby expressly covenanted and agreed that the pendency of court shall forthwith appoint such foreclosure suit, (ii) in case of a sale and a deficiency, during receiver with the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said period, includinglike cases; and, to the extent permitted by law, said appointment shall be made by the court ex parte as a matter of strict right to Mortgagee, without notice to or demand upon Mortgagor or any Person claiming through or under Mortgagor, and Mortgagee shall be entitled to the appointment of such receiver as a matter of right, to the extent not prohibited by applicable law, without consideration of the value of the Property as security for the amounts due to Mortgagee or the Lenders or the solvency of any Person liable for the payment of such amounts. To the extent permitted by law, Mortgagor hereby specifically waives the right to lease object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment shall be made ex parte and without notice to Mortgagor as an admitted equity and as a matter of absolute right to Mortgagee. In order to maintain and preserve the Property and to prevent waste and impairment of its security, Mortgagee may, at its option, advance monies to the appointed receiver and all or any portion of such sums advanced shall become secured obligations and shall bear interest from the Premises for a term that extends beyond the time date of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize advance at the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyApplicable Rate.

Appears in 1 contract

Samples: Mortgage Deed, Security Agreement, and Assignment of Leases and Rents (Sun Television & Appliances Inc)

Appointment of Receiver. Upon (a) At the time that, or at any time after the filing of a complaint to foreclose this Mortgageafter, the court security constituted by this Agreement has become enforceable, whether or not Lender has entered into or taken possession of the whole or any part of the Collateral pursuant to this Agreement, Lender may: (i) in which such complaint is filed shallso far as permitted by law, upon petition at its option, by writing under the hand of any authorised officer of Lender, appoint any person to be a receiver for the Premises in accordance with the applicable laws of the State Collateral and such person shall, with effect from the date of Arkansas. Such appointment may such appointment, be made either before or after salea receiver (the “Receiver”), without noticeprovided, without regard to the solvency or insolvency that this provision shall not apply solely by reason of the Mortgagor obtaining of a moratorium, or anything done with a view to obtaining a moratorium, by an eligible company (as defined in Schedule A1 of the Insolvency Act) under the Insolvency Act; (ii) Lender may, from time to time, in similar manner, remove the Receiver and appoint another in his place; (iii) Lender may, either at the time of application for such receiver appointment or at any time thereafter, fix the remuneration of the Receiver; (iv) Lender and any nominee of Lender wheresoever situated may, without further notice and without regard to the value restrictions contained in Section 103 of the Premises LPA (Regulation of exercise of power of sale), exercise in respect of all or whether any part of the same shall be then occupied as a homestead or not Shares and the Lender hereunder or any other Derivative Assets all the powers and rights exercisable by the registered holder of the Note may be appointed as such receiver. Such receiver shall have power to collect Shares and the rents, issues Derivative Assets and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers conferred on mortgagees by the LPA as varied or extended by this Agreement; and (v) Lender and rights that any nominee of Lender wheresoever situated may be necessary apply any dividends, interest or are usual other payments received or receivable by Lender or by such nominee in such cases for the protection, possession, control, management and operation respect of the Premises during said period, including, Shares and the Derivative Assets as if they were proceeds of sale. None of the restrictions imposed by the LPA in relation to the extent permitted by lawappointment of receivers, the right to lease all giving of notice or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. otherwise shall apply. (b) The court Receiver may from time to time delegate, by power of attorney or otherwise, to any person any of his powers and discretions, whether arising by statute, the provisions of this Agreement or otherwise, upon such terms and for such periods of time as he may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or his discretion think fit and may from time to time terminate any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may such delegation. Lender shall not be or become superior liable to the lien hereof Borrower for any loss or damage arising from any such delegate’s act, default, neglect or misconduct of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencynature whatsoever.

Appears in 1 contract

Samples: Loan and Security Agreement (@Road, Inc)

Appointment of Receiver. (a) Upon or at any time after the filing of a complaint to foreclose enforce this MortgageDeed of Trust or any of the other Loan Documents, the court in which such complaint is filed shall, upon petition by the LenderBeneficiary, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor Trustor at the time of application for such receiver and without regard to the value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Beneficiary hereunder or any other holder of the Note Notes may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the MortgagorTrustor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this MortgageDeed of Trust, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency. (b) In the event an interest in any of the Premises is foreclosed upon pursuant to a judicial or nonjudicial foreclosure sale, Trustor agrees as follows: notwithstanding the provisions of Sections 51.003, 51.004, and 51.005 of the Act (as the same may be amended from time to time), and to the extent permitted by law, Trustor agrees that Beneficiary shall be entitled to seek a deficiency judgment from Borrower and any other party obligated on the Notes equal to the difference between the amount owing on the Notes and the amount for which the Premises was sold pursuant to judicial or nonjudicial foreclosure sale. Trustor expressly recognizes that this section constitutes a waiver of the above-cited provisions of the Act which would otherwise permit Borrower and other persons against whom recovery of deficiencies is sought or Guarantor independently (even absent the initiation of deficiency proceedings against them) to present competent evidence of the fair market value of the Premises as of the date of the foreclosure sale and offset against any deficiency the amount by which the foreclosure sale price is determined to be less than such fair market value. Trustor further recognizes and agrees that this waiver creates an irrebuttable presumption that the foreclosure sale price is equal to the fair market value of the Premises for purposes of calculating deficiencies owed by Xxxxxxxx, Guarantor, and others against whom recovery of a deficiency is sought. (c) Alternatively, in the event the waiver provided for in subsection (b) above is determined by a court of competent jurisdiction to be unenforceable, the following shall be the basis for the finder of fact’s determination of the fair market value of the Premises as of the date of the foreclosure sale in proceedings governed by Sections 51.003, 51.004 and 51.005 of the Act (as amended from time to time): (i) the Premises shall be valued in an “as is” condition as of the date of the foreclosure sale, without any assumption or expectation that the Premises will be repaired or improved in any manner before a resale of the Premises after foreclosure; (ii) the valuation shall be based upon an assumption that the foreclosure purchaser desires a resale of the Premises for cash promptly (but no later than twelve [12] months) following the foreclosure sale; (iii) all reasonable closing costs customarily borne by the seller in commercial real estate transactions should be deducted from the gross fair market value of the Premises, including, without limitation, brokerage commissions, title insurance, a survey of the Premises, tax prorations, attorneys’ fees, and marketing costs; (iv) the gross fair market value of the Premises shall be further discounted to account for any estimated holding costs associated with maintaining the Premises pending sale, including, without limitation, utilities expenses, property management fees, taxes and assessments (to the extent not accounted for in (iii) above), and other maintenance, operational and ownership expenses; and (v) any expert opinion testimony given or considered in connection with a determination of the fair market value of the Premises must be given by persons having at least five (5) years experience in appraising property similar to the Premises and who have conducted and prepared a complete written appraisal of the Premises taking into consideration the factors set forth above.

Appears in 1 contract

Samples: Commercial Deed of Trust (NNN Healthcare/Office REIT, Inc.)

Appointment of Receiver. Upon or at In addition to all other remedies herein provided for, the Mortgagor agrees that upon the occurrence of any time after Event of Default and lapse of any applicable cure periods the filing Mortgagee shall as a matter of right be entitled to the appointment of a complaint receiver or receivers for all or any part of Mortgagor’s interest in the Mortgaged Property, whether such receivership be incident to foreclose this Mortgagea proposed sale (or sales) of such property or otherwise, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the value of the Premises Mortgaged Property or whether the same shall be then occupied as a homestead solvency of any person or not persons liable for the payment of the Indebtedness, and the Lender hereunder or any other holder of Mortgagor does hereby consent to the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency appointment of such foreclosure suitreceiver or receivers, (ii) in case until such time that the Event of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during said period, includingDefault has been cured, to the extent permitted by lawlaw waives any and all defenses to such appointment, and agrees not to oppose any application therefor by the right to lease all or any portion Mortgagee and agrees that such appointment shall in no manner affect the rights of the Premises for Mortgagee under Article III hereof. Nothing herein is to be construed to deprive the Mortgagee of any other right, remedy or privilege it may now have under the laws to have a term that extends beyond receiver appointed. Any money advanced by the time Mortgagee in connection with any such receivership shall be a demand obligation owing by the Mortgagor to the Mortgagee and shall bear interest from the date of making such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize advancement by the application Mortgagee until paid at the Default Rate (as set forth in the Credit Agreement) and shall be a part of the net income received Indebtedness and shall be secured by the receiver in payment of (a) this instrument and by any other instrument securing the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiency.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Peak Resources LP)

Appointment of Receiver. Upon Upon, or at any time after prior or after, an Event of Default hereunder or any of the filing Loan Documents or initiating the exercise of any foreclosure by power of sale or any other foreclosure of the security titles, liens and security interests provided for herein or any other legal proceedings or exercise of remedies hereunder, make application to a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint of competent jurisdiction for appointment of a receiver for the Premises in accordance with the applicable laws all or any part of the State Secured Property, as a matter of Arkansas. Such appointment may be made either before or after sale, strict right and without notice, without regard notice to the solvency or insolvency of the Mortgagor at the time of application for such receiver Borrower and without regard to the value adequacy of the Premises Secured Property for the repayment of the Indebtedness secured hereby or whether the same shall be then occupied as a homestead or not and the Lender hereunder solvency of Borrower or any other holder person or persons liable for the payment of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suit, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or notIndebtedness secured hereby, and (iii) during Borrower does hereby irrevocably consent to such appointment, waives any further times when the Mortgagorand all notices of and defenses to such appointment and agrees not to oppose any application therefor by Lender, but for nothing herein is to be construed to deprive Lender of any other right, remedy or privilege Lender may now have under the intervention law to have a receiver appointed; provided, however, that, the appointment of such receiver, would be entitled trustee or other appointee by virtue of any court order, state or regulation shall not impair or in any manner prejudice the rights of Lender to collect receive payment of the Rents pursuant to other terms and provisions hereof. Any such rents, issues and profits. Such receiver also shall have all other of the usual powers and rights that may be necessary or are usual duties of receivers in such cases for the protection, possession, control, management and operation of the Premises during said periodsimilar cases, including, without limitation, the full power to hold, develop, rent, lease, manage, maintain, operate and otherwise use or permit the use of the Secured Property upon such terms and conditions as said receiver may deem to be prudent and reasonable under the circumstances as more fully set forth in Paragraph 20(c) below. Such receivership shall, at the option of Lender, continue until full payment of all of the Indebtedness secured hereby or until title to the extent permitted Secured Property shall have passed by law, the right to lease all foreclosure sale under this Deed or any portion deed in lieu of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of the net income received by the receiver in payment of (a) the Indebtedness, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior to the lien hereof or of such judgment or decree, provided such application is made prior to foreclosure sale, and (b) any deficiency upon a sale and deficiencyforeclosure.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement (Cb Richard Ellis Realty Trust)

Appointment of Receiver. Upon or at any time after the filing Beneficiary shall be entitled, as a matter of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lender, appoint a receiver for the Premises in accordance with the applicable laws of the State of Arkansas. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver absolute right and without regard to the value of any security for the Premises Secured Obligations or whether the same shall be then occupied as solvency of any person liable therefor, to the appointment of a homestead receiver for the Property upon ex-parte application to any court of competent jurisdiction. Trustor waives any right to any hearing or not and notice of hearing prior to the Lender hereunder or any other holder appointment of the Note may be appointed as such a receiver. Such receiver and its agents shall have power be empowered, but shall not be obligated, to (a) take possession of the Property and any businesses conducted by Trustor or any other person thereon and any business assets used in connection therewith, (b) exclude Trustor and Trustor’s agents, servants, and employees from the Property, (c) collect the rents, issues issues, profits, and profits income therefrom, (d) complete any construction which may be in progress, (e) do such maintenance and make such repairs and alterations as the receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the Premises (i) during the pendency of such foreclosure suitreceivership estate, (iig) in case of a sale pay all taxes and a deficiencyassessments against the Property and the Chattels, during the full statutory period of redemptionall premiums for insurance thereon, whether there be redemption all utility and other operating expenses, and all sums due under any prior or notsubsequent encumbrance, and (iiih) during any further times when the Mortgagor, but for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have all other powers and rights that may be necessary or are usual generally do anything which Trustor could legally do if Trustor were in such cases for the protection, possession, control, management and operation possession of the Premises during said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such leaseProperty. The court from time to time may authorize the application of the net income received All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including attorneys’ fees incurred by the receiver and by Beneficiary, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Secured Obligations or in payment such other manner as the court may direct. Unless sooner terminated with the express consent of (a) Beneficiary, any such receivership will continue until the IndebtednessSecured Obligations have been discharged in full, or any amount found due or secured by any judgment or decree foreclosing this Mortgage, or any tax, special assessment or other lien which may be or become superior until title to the lien hereof or of such judgment or decree, provided such application is made prior to Property has passed after foreclosure sale, and (b) any deficiency upon a sale and deficiencyall applicable periods of redemption have expired.

Appears in 1 contract

Samples: Deed of Trust (KBS Real Estate Investment Trust, Inc.)

Appointment of Receiver. Upon Upon, or at any time after the filing of a complaint to foreclose this Mortgage, the court in which such complaint is filed shall, upon petition by the Lenderelection of Mortgagee, appoint a receiver for the Premises in accordance with the applicable laws of the State of ArkansasPremises. Such appointment may be made either before or after sale, without notice, without regard to the solvency or insolvency of the Mortgagor at the time of application for such receiver and without regard to the then value of the Premises or whether the same shall be then occupied as a homestead or not and the Lender Mortgagee hereunder or any other holder of the Note may be appointed as such receiver. Such receiver shall have power to collect the rents, issues and profits of the Premises (i) during the pendency of such foreclosure suitsuit and, (ii) in case of a sale and a deficiency, during the full statutory period of redemption, whether there be redemption or not, and (iii) as well as during any further times when the Mortgagor, but except for the intervention of such receiver, would be entitled to collect such rents, issues and profits. Such receiver also shall have , and all other powers and rights that which may be necessary or are usual in such cases for the protection, possession, control, management and operation of the Premises during the whole of said period, including, to the extent permitted by law, the right to lease all or any portion of the Premises for a term that extends beyond the time of such receiver’s possession without obtaining prior court approval of such lease. The court from time to time may authorize the application of receiver to apply the net income received in his hands after deducting reasonable compensation for the receiver and his counsel as allowed by the receiver court, in payment (in whole or in part) of any or all of any obligation secured hereby, including without limitation the following, in such order of application as Mortgagee may elect: (ai) amounts due upon the IndebtednessNote, or (ii) amounts due upon any amount found due or secured by decree entered in any judgment or decree suit foreclosing this Mortgage, or any tax(iii) costs and expenses of foreclosure and litigation upon the Premises; (iv) insurance premiums, repairs, taxes, special assessment or assessments, water charges and interest, penalties and costs, in connection with the Premises; (v) any other lien which or charge upon the Premises that may be or become superior to the lien hereof of this Mortgage, or of such judgment or decree, any decree foreclosing the same; provided that such application is made prior to foreclosure sale, and (bvi) any the deficiency upon in case of a sale and a deficiency.

Appears in 1 contract

Samples: Loan Modification Agreement (Leap Group Inc)

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