Foreclosure Event Sample Clauses

Foreclosure Event. A “Foreclosure Event” means: (i) foreclosure under the Mortgage; (ii) 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 and/or the Mortgage, as a result of which Mortgagee becomes owner of the Property; or (iii) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in the Property in lieu of any of the foregoing.
AutoNDA by SimpleDocs
Foreclosure Event. A “Foreclosure Event” 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 and/or the Mortgage, as a result of which Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.
Foreclosure Event. A “Foreclosure Event” means: (a) foreclosure under the Deed of Trust, whether by judicial action or pursuant to nonjudicial proceedings; (b) any other exercise by Lender of rights and remedies (whether under the Deed of Trust or under applicable law, including bankruptcy law) as holder of the Loan and/or as beneficiary under the Deed of Trust, as a result of which any Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Lender (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.
Foreclosure Event. Following the occurrence of a Foreclosure Event, distributions will be made by the Security Trustee from the Available Distribution Amount and any proceeds of enforcement of the Security according to the following Order of Priority:
Foreclosure Event. A "Foreclosure Event" means any transfer of title to the Fee Estate or the Leasehold Estate as the result of any: (1) judicial or nonjudicial foreclosure; (2) trustee's sale; (3) deed, transfer, assignment, or other conveyance in lieu of foreclosure; (4) other similar exercise of rights or remedies in the nature of “1” through “3” under any Leasehold Mortgage; or (5) transfer by operation of or pursuant to any Bankruptcy Proceeding, in each case ("1" through "5") whether the transferee is a Mortgagee, a party claiming through a Mortgagee, or a third party.
Foreclosure Event. A “Foreclosure Event” means: (a) foreclosure under the Mortgage;
Foreclosure Event. A “Foreclosure Event” means: (a) foreclosure under the Deed of Trust; (b) any other exercise by Bank of rights and remedies (whether under the Deed of Trust or under applicable law, including bankruptcy law) as holder of the Loan and/or the Deed of Trust, as a result of which Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Bank (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.
AutoNDA by SimpleDocs
Foreclosure Event. After the occurrence of a Foreclosure Event, no later than the earlier of (x) fifteen (15) months and one (1) day following the last date the filing of Ciner Resources LP’s next quarterly report on Form 10-Q or annual report on Form 10-K (as applicable) with the U.S. Securities and Exchange Commission is due (or, if Ciner Resources LP is no longer required by applicable law to file such reports, the last date such filing would have been due) and (y) eighteen (18) months and one (1) day following the Foreclosure Event, the Borrower shall prepay in full the outstanding principal amount of all Revolving Loans and/or Swing Line Loans and Cash Collateralize all L/C Obligations; provided, for purposes of clarity, no additional Borrowing or L/C Borrowing shall be permitted upon the occurrence of a Foreclosure Event. (iii)
Foreclosure Event. Each of the following events shall be a “Foreclosure Event”: (a) a foreclosure sale; (b) a deed in lieu of foreclosure; (c) an auction sale in bankruptcy; or (d) exercise of any other right or remedy whatsoever that results in any party succeeding to Landlord’s interest under the Lease. At the option and in the sole discretion of Lender, or any assignee, nominee or subsidiary, or any foreclosure sale purchaser that succeeds by any means to the interest of Landlord under the Lease after a Foreclosure Event (each a “Successor,” including Lender), the Lease shall terminate and be of no force or effect, and Tenant’s rights under the Lease shall terminate and Tenant shall have no right to occupy or use the Property or any part of it and shall have no claims against Landlord, Lender or the Property. If Lender commences an action to cause a Foreclosure Event and elects to terminate the Lease, Lender may give notice to Tenant of the commencement of that action (a “Foreclosure Notice”), in which event the Lease and its term shall terminate, expire, and come to an end (as fully and completely as if the expiration date under the Lease had occurred) on the date five (5) days after that Foreclosure Notice; or, unless Lender or Successor affirmatively elects to retain the Lease and Xxxxxx’s obligations thereunder as described in Section 8, automatically upon the occurrence of a Foreclosure Event (whether or not Lender delivered a Foreclosure Notice), the Lease and its term shall terminate, expire and come to an end (as fully and completely as if the expiration date under the Lease had occurred). Any such termination shall constitute the limit beyond which Xxxxxx’s tenancy no longer exists. Tenant shall then quit and surrender the Property but remain liable under the Lease as to any liability that continues after termination of the Lease. It is a conditional limitation of the Lease that its term shall terminate and expire as this paragraph states. This paragraph is intended to establish a conditional limitation and not a condition subsequent.
Foreclosure Event. A “Foreclosure Event” 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 and/or the Mortgage, as a result of which Successor Landlord (as defined below) becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!