Delivery After Foreclosure Sample Clauses
The 'Delivery After Foreclosure' clause defines the obligations and procedures for transferring possession of a property to the new owner following a foreclosure sale. Typically, this clause outlines the timeframe within which the previous occupant must vacate the premises and specifies the condition in which the property should be delivered, such as being free of personal belongings and in reasonable repair. Its core practical function is to ensure a smooth and predictable transition of property ownership after foreclosure, minimizing disputes and delays related to possession.
Delivery After Foreclosure. In the event that the -------------------------- proceeds of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Mortgagee to satisfy any deficiency remaining after such foreclosure. Mortgagee shall retain its interest in the Insurance Policies required to be maintained pursuant to this Mortgage during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Mortgagee shall be released to the Mortgagor.
Delivery After Foreclosure. In the event that the proceeds of any insurance claim are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. Beneficiary shall retain its interest in the Insurance Policies required to be maintained pursuant to this Deed of Trust during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall be released to the Grantor.
Delivery After Foreclosure. In the event that the proceeds of any insurance claim are paid after the Collateral Agent has exercised its right to foreclose after an Event of Default such proceeds shall be paid to the Collateral Agent to satisfy any deficiency remaining after such foreclosure. The Collateral Agent shall retain its interest in the Insurance Policies required to be maintained pursuant to this Agreement during any redemption period.
Delivery After Foreclosure. In the event that the proceeds -------------------------- of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Mortgagee to satisfy any deficiency remaining after such foreclosure. Mortgagee shall retain its interest in the Insurance Policies required to be maintained pursuant to this Mortgage during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Mortgagee shall be released to the Mortgagor.
Delivery After Foreclosure. 23 ARTICLE IX
Delivery After Foreclosure. In the event that the proceeds of any insurance claim to which the Grantor is entitled pursuant to the provisions of the Mortgaged Lease are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. Beneficiary shall retain its interest in the Insurance Policies required to be maintained pursuant to this Deed of Trust during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall be released to the Grantor.