Foreclosure of Personalty Sample Clauses

Foreclosure of Personalty. Upon the occurrence and during the continuation of an Event of Default, should Beneficiary or the Trustee, as applicable, elect to cause any of the Property to be disposed of as personal property because the same consists of a right of action or property that can be severed from the Land or the Improvements without causing material damage thereto, Beneficiary, or the Trustee, as applicable, may dispose of all or any part thereof in any manner now or hereafter permitted under the U.C.C. or in accordance with any other remedy provided by law. Any such disposition may be conducted by an employee or agent of Beneficiary or the Trustee. Beneficiary or the Trustee shall be entitled to purchase any part or all of such property at such disposition. Any such disposition may be by public or private sale as Beneficiary or the Trustee may so elect, subject to the provisions of the U.C.C. Beneficiary shall have all the rights and remedies of a secured party under the U.C.C. Expenses of retaking, holding, preparing for sale, selling or the like shall include Beneficiary's and the Trustee's attorneys' and accountants' fees and charges. Upon the occurrence and during the continuation of any Event of Default, the Grantor, upon demand of Beneficiary or the Trustee shall assemble such personal property and make it available to Beneficiary and the Trustee at any of the Land, or at a place which is deemed to be reasonably convenient to Beneficiary or the Trustee. It is agreed that ten (10) days prior written notice to Grantor of the time and place of any public sale or other disposition of such property or the time at or after which any private sale or any other intended disposition is to be made shall constitute commercially reasonable notice.
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Foreclosure of Personalty. Upon the happening of any and every such Event of Default, should Beneficiary elect to cause any of the Security to be disposed of as personal property because the same is personal property under the applicable laws of the State of Texas, Beneficiary may dispose of all or any part thereof in any manner now or hereafter permitted by the Uniform Commercial Code of the State of Texas or in accordance with any other remedy provided in law or in equity. Any such disposition may be conducted by an employee or agent of Beneficiary. Both Grantor and Beneficiary shall be eligible to purchase any part or all of such property at such disposition. Any such disposition may be either public or private as Beneficiary may so elect, in its sole discretion, subject to the provisions of the Uniform Commercial Code of the State of Texas. Beneficiary shall have all of the rights and remedies of a secured party under the Uniform Commercial Code of the State of Texas. Expenses of retaking, holding, preparing for sale, selling or the like shall include Beneficiary’s Attorney’s Fees and legal expenses, and upon the occurrence of any Event of Default, Grantor, upon demand of Beneficiary, shall assemble such personal property and make it available to Beneficiary at a place which is deemed to be reasonably convenient to both Beneficiary and Grantor. Beneficiary shall give Grantor at least five (5) days’ prior written notice (or a longer period if then required in accordance with the laws of the State of Texas) of the time and place of any public sale or other disposition of such property or of the time at or after which any private sale or any other intended disposition is to be made, and if such notice is sent to Grantor, as the same is provided for the mailing of notices herein, it shall constitute reasonable notice to Grantor.
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Foreclosure of Personalty. Upon the happening of any and every ------------------------- such Event of Default, should METLIFE elect to cause any of the Property to be disposed of as personal property because the same is personal property under the applicable laws of the State of Maryland, METLIFE may dispose of all or any part thereof in any manner now or hereafter permitted by the Uniform Commercial Code of the State of Maryland or in accordance with any other remedy provided in law or in equity. Any such disposition may be conducted by an employee or agent of METLIFE or Trustee. Both Borrower and METLIFE shall be eligible to purchase any part or all of such property at such disposition. Any such disposition may be either public or private as METLIFE may so elect, in its sole discretion, subject to the provisions of the Uniform Commercial Code of the State of Maryland. METLIFE shall have all of the rights and remedies of a secured party under the Uniform Commercial Code of the State of Maryland. Expenses of retaking, holding, preparing for sale, selling or the like shall include METLIFE's attorney's fees and legal expenses, and upon the occurrence of any Event of Default, Borrower, upon demand of METLIFE, shall assemble such personal property and make it available to METLIFE at the Property, a place which is deemed to be reasonably convenient to both METLIFE and Borrower. METLIFE shall give Borrower at least five (5) days' prior written notice (or a longer period if then required in accordance with the laws of the State of Maryland) of the time and place of any public sale or other disposition of such property or of the time at or after which any private sale or any other intended disposition is to be made, and if such notice is sent to Borrower, as the same is provided for the mailing of notices herein, it shall constitute reasonable notice to Borrower.
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Foreclosure of Personalty. Upon the occurrence and during the continuation of an Event of Default, should the Mortgagee elect to cause any of the Property to be disposed of as personal property because the same consists of a right of action or property that can be severed from the Land or the Improvements without causing material damage thereto, the Mortgagee may dispose of all or any part thereof in any manner now or hereafter permitted under the U.C.C. or in accordance with any other remedy provided by law.
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Related to Foreclosure of Personalty

  • Removal of Personal Property All articles of personal property owned by Tenant or installed by Tenant at its expense in the Premises (including business and trade fixtures, furniture and movable partitions) shall be, and remain, the property of Tenant, and shall be removed by Tenant from the Premises, at Tenant's sole cost and expense, on or before the expiration or sooner termination of this Lease. Tenant shall repair any damage caused by such removal.

  • Personalty Except as otherwise expressly provided in the Leases, title to all goods, materials, supplies, equipment, machinery and other personal property and fixtures used in the operation or maintenance of the Property, is vested in Borrower free and clear of all liens, encumbrances and security interests, other than the lien and security interest of the Security Instruments, and Borrower has not executed any security agreement, purchase order or other contract or agreement under which any person or other entity is granted or reserves the right to retain title to, remove or repossess any of such goods, materials, supplies, equipment, machinery or other personal property or fixtures.

  • Condition of Personal Property All tangible personal property, equipment, fixtures and inventories included within the assets of the Company are in good, merchantable or in reasonably repairable condition and are suitable for the purposes for which they are used. No value in excess of applicable reserves has been given to any inventory with respect to obsolete or discontinued products. To the best of the Company's knowledge, all of the inventories and equipment, including equipment leased to others, are well maintained and in good operating condition.

  • Foreclosure Property Notwithstanding any other provision of this Agreement, the Servicer, shall not rent, lease, or otherwise earn income on behalf of the REMIC with respect to any REO which might cause such REO to fail to qualify as "foreclosure" property within the meaning of section 860G(a)(8) of the Code (e.g., rent based upon the earnings of the lessee) or result in the receipt by the REMIC of any "income from non-permitted assets" within the meaning of section 860F(a)(2) of the Code (e.g., income attributable to any asset which is not a qualified mortgage, a cash flow or reserve fund investment, or personal property not incidental to the REO) or any "net income from foreclosure property" which is subject to tax under the REMIC Provisions unless the Master Servicer has received an Opinion of Counsel (at the Servicer's expense) to the effect that, under the REMIC Provisions and (where appropriate, any relevant proposed legislation) any income generated for the REMIC by the REO would not result in the imposition of a tax upon the REMIC. In general, the purpose of this Section 3.2 and the REMIC Provisions (which this section is intended to implement) is to ensure that the income earned by the REMIC is passive type income such as interest on mortgages and passive type rental income on real property.

  • Other Personal Property Unless at the time the Secured Party takes possession of any tangible Collateral, or within seven days thereafter, the Debtor gives written notice to the Secured Party of the existence of any goods, papers or other property of the Debtor, not affixed to or constituting a part of such Collateral, but which are located or found upon or within such Collateral, describing such property, the Secured Party shall not be responsible or liable to the Debtor for any action taken or omitted by or on behalf of the Secured Party with respect to such property.

  • Foreclosure Enforce any security interest or lien given or provided for under this Agreement or under any security agreement, mortgage, deed of trust or other document, in such manner and such order, as to all or any part of the properties subject to such security interest or lien, as the Bank, in its sole judgment, deems to be necessary or appropriate and the Borrower hereby waives any and all rights, obligations or defenses now or hereafter established by law relating to the foregoing. In the enforcement of its security interest or lien, the Bank is authorized to enter upon the premises where any Collateral is located and take possession of the Collateral or any part thereof, together with the Borrower's records pertaining thereto, or the Bank may require the Borrower to assemble the Collateral and records pertaining thereto and make such Collateral and records available to the Bank at a place designated by the Bank. The Bank may sell the Collateral or any portions thereof, together with all additions, accessions and accessories thereto, giving only such notices and following only such procedures as are required by law, at either a public or private sale, or both, with or without having the Collateral present at the time of the sale, which sale shall be on such terms and conditions and conducted in such manner as the Bank determines in its sole judgment to be commercially reasonable. Any deficiency which exists after the disposition or liquidation of the Collateral shall be a continuing liability of the Borrower to the Bank and shall be immediately paid by the Borrower to the Bank.

  • Reports of Foreclosures and Abandonment of Mortgaged Property The Master Servicer or the Subservicers shall file information returns with respect to the receipt of mortgage interests received in a trade or business, the reports of foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the Trustee an Officers' Certificate on or before March 31 of each year stating that such reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050H, 6050J and 6050P of the Code.

  • Tenant’s Personal Property Tenant shall provide and maintain (or cause to be provided and maintained) throughout the Term all such Tenant’s Personal Property as shall be necessary in order to operate in compliance with applicable material Legal Requirements and Insurance Requirements and otherwise in accordance with customary practice in the industry for the Permitted Use. If, from and after the Commencement Date with respect to any Property, Tenant acquires an interest in any item of tangible personal property (other than motor vehicles) on, or in connection with, the Leased Property, or any portion thereof, which belongs to anyone other than Tenant, Tenant shall require the agreements permitting such use to provide that Landlord or its designee may assume Tenant’s rights and obligations under such agreement upon Landlord’s purchase of the same in accordance with the provisions of Article 15 and the assumption of management or operation of the Facility by Landlord or its designee.

  • Personal Property 16 5.15 Significant Customers; Material Contracts and Commitments.......16 5.16

  • Personal Property Collateral The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent:

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