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 applied in accordance with the Priority Intercreditor Agreement.
Appears in 4 contracts
Samples: Indenture (Trump Indiana Inc), Second Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc), Indenture (Trump Indiana Inc)
Delivery After Foreclosure. In the event that the Proceeds -------------------------- proceeds of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such Proceeds 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 proceeds in excess of any deficiency claim of the Mortgagee shall be applied in accordance with released to the Priority Intercreditor AgreementMortgagor.
Appears in 4 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)
Delivery After Foreclosure. In the event that the Proceeds proceeds of any property insurance claim are paid after the Mortgagee has exercised its right to foreclose foreclosed the Lien hereof, such Proceeds proceeds shall be paid to the Mortgagee to satisfy any deficiency remaining after such foreclosureforeclosure subject to the terms of the Credit Agreement. 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 applied in accordance with the Priority Intercreditor Agreement.
Appears in 4 contracts
Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Delivery After Foreclosure. In the event that the Proceeds proceeds of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such Proceeds 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 applied in accordance with the Priority Intercreditor Agreement.
Appears in 2 contracts
Samples: Mortgage Agreement (Listerhill Total Maintenance Center LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Granite Broadcasting Corp)
Delivery After Foreclosure. In the event that the Proceeds proceeds of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such Proceeds 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 proceeds in excess of any deficiency claim of the Mortgagee shall be applied in accordance with released to the Priority Intercreditor AgreementMortgagor.
Appears in 2 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc)
Delivery After Foreclosure. In the event that the Proceeds -------------------------- proceeds of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such Proceeds 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 applied in accordance with the Priority Intercreditor Agreement.
Appears in 2 contracts
Samples: Term Loan & Revolving Credit Mortgage (Applied Power Inc), Mortgage Agreement (Applied Power Inc)
Delivery After Foreclosure. In the event that the Proceeds proceeds -------------------------- of any insurance claim are paid after the Mortgagee has exercised its right to foreclose the Lien hereof, such Proceeds 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 proceeds in excess of any deficiency claim of the Mortgagee shall be applied in accordance with released to the Priority Intercreditor AgreementMortgagor.
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