Event of Foreclosure Clause Samples
Event of Foreclosure. In the event of any judicial or nonjudicial foreclosure sale, Lender in its discretion may use a single notice covering both real estate and personal property, designate the order of sale, and may elect to sell the real estate and personal property as an integrated unit or separately. Any person permitted by law to do so may purchase at any sale.
Event of Foreclosure. In the event the Developer's interests in the Tract are extinguished by an act of foreclosure, and the foreclosing party has supplied sufficient evidence to the River Authority that they are the successor in interest to the Tract as a result of such foreclosure, and that there are no lawsuits pending concerning the Tract, the River Authority shall consider the foreclosing party a successor in interest if the foreclosing party executes a utility service agreement with the River Authority after the Utilities Manager determines that the execution of such an agreement will not be adverse to the River Authority’s interest.
Event of Foreclosure. In the event ▇▇▇▇▇▇▇▇▇’s interest in the Tract described in Attachment VI are extinguished by an act of foreclosure, and the foreclosing party has supplied sufficient evidence to SAWS that they are the successor in interest to the Tract as a result of such foreclosure, and that there are no lawsuits pending concerning the Tract, SAWS shall consider the foreclosing party a successor in interest if the foreclosing party executes a utility service agreement with SAWS after the Director determines that the execution of such an agreement will not be adverse to SAWS’ interest.
Event of Foreclosure. Seller understands, acknowledges, and agrees that in the event the Existing Loan is not paid, Seller will be subject to foreclosure proceedings and such proceedings may harm Seller's credit.
Event of Foreclosure. An “Event of Foreclosure” means: (a) foreclosure under the Mortgage; (b) any other exercise by Mortgagee of rights and remedies (whether under the Mortgage or under applicable law, including bankruptcy law) as holder of the Loan or of the Mortgage, as a result of which any party other than Landlord succeeds Landlord as owner of the Landlord’s Premises; or (c) delivery by Landlord to Mortgagee (or Mortgagee’s designee or nominee) of a deed or other conveyance of Landlord’s interest in the Landlord’s Premises in lieu of foreclosure or such exercise of Mortgagee’s rights and remedies.
Event of Foreclosure. In the event the Developer’s interest in the Property is extinguished by an act of foreclosure, and the foreclosing party has supplied sufficient evidence to the City that it is the successor in interest to the Property as a result of such foreclosure, and that there are no lawsuits pending concerning the Property, the City shall consider the foreclosing party a Developer successor in interest if the foreclosing party executes a utility service agreement with the City (after the City Council determines that the execution of such an agreement will not be adverse to the City’s interest).