Common use of Foreclosure Event Clause in Contracts

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. A “Foreclosure Event” means: means (ai) foreclosure under (judicial or non-judicial) of the Deed of TrustMortgage, whether by judicial action or pursuant to nonjudicial proceedings; (bii) any other exercise by Lender the Mortgagee of rights and remedies (whether under the Deed of Trust Mortgage or under applicable law, including bankruptcy law) as holder of the Loan and/or as beneficiary under the Deed of TrustMortgage, as a result of which any the Successor Landlord becomes owner of the Landlord’s Premises; Premises or (ciii) delivery by the Landlord to Lender the Mortgagee (or its designee or nominee) of a deed or other conveyance of the Landlord’s interest in the 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 's Premises; or (c) delivery by Landlord to Lender (or its designee or nominee) of a deed or other conveyance of Landlord’s 's interest in Landlord’s 's Premises in lieu of any of the foregoing.