Common use of Foreclosure by Lender Clause in Contracts

Foreclosure by Lender. In the event of foreclosure, deed in lieu of foreclosure, or similar disposition of the Property by Lender, no consent will be required from Governmental Entity [USE ONLY IF REGULATORY AGREEMENT CONTAINS INDEMNIFICATION PROVISION FROM BORROWER TO GOVERNMENTAL ENTITY: and Lender will have no indemnification obligations to Governmental Entity for any period during which Lender does not own or is not in possession of the Property].

Foreclosure by Lender. In the event of foreclosure, deed in lieu of foreclosure, or similar disposition of the Property by Lender, no consent will shall be required from Governmental Entity [USE ONLY IF REGULATORY AGREEMENT CONTAINS INDEMNIFICATION PROVISION FROM BORROWER TO GOVERNMENTAL ENTITY: and Lender will have no indemnification obligations to Governmental Entity for any period during which Lender does not own or is not in possession of the Property]Entity.