Common use of GRANTOR'S RIGHT TO POSSESSION Clause in Contracts

GRANTOR'S RIGHT TO POSSESSION. To the extent permitted by applicable law, the Beneficiary may enter upon the Premises, and exclude the Grantor and its agents and servants wholly therefrom, without liability for trespass, damages or otherwise, and take possession of all books, records and accounts relating thereto and all other Trust Property, and the Grantor agrees to surrender possession of the Trust Property and of such books, records and accounts to the Beneficiary on demand after the happening of any Event of Default and for so long as an Event of Default shall continue; and having and holding the same may use, operate, manage, preserve, control and otherwise deal therewith and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers, without interference from the Grantor; and upon each such entry and from time to time thereafter may, at the expense of the Grantor and the Trust Property, without interference by the Grantor and as the Beneficiary may deem advisable, (i) insure or reinsure the Premises, (ii) make all necessary or proper repairs, renewals, replacements, alterations, additions, betterments and improvements thereto and thereon and (iii) in every such case in connection with the foregoing have the right to exercise all rights and powers of the Grantor with respect to the Trust Property, either in the Grantor’s name or otherwise. For the purpose of carrying out the provisions of this Paragraph 23(i), the Grantor hereby constitutes and appoints the Beneficiary the true and lawful attorney-in-fact of the Grantor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in the Grantor’s name and stead, to do and perform, from time to time, any and all actions necessary and incidental to such purpose and does by these presents ratify and confirm any and all actions of said attorney-in-fact in and with respect to the Trust Property.

GRANTOR'S RIGHT TO POSSESSION. To the extent permitted by applicable law, the Beneficiary may enter upon the Premises, and exclude the Grantor and its agents and servants wholly therefrom, without liability for trespass, damages or otherwise, and take possession of all books, records and accounts relating thereto and all other Trust Property, and the Grantor agrees to surrender possession of the Trust Property and of such books, records and accounts to the Beneficiary on demand after the happening of any Event of Default and for so long as an Event of Default shall continue; and having and holding the same may use, operate, manage, preserve, control and otherwise deal therewith and conduct the business thereof, either personally or by its superintendents, managers, agents, servants, attorneys or receivers, without interference from the Grantor; and upon each such entry and from time to time thereafter may, at the expense of the Grantor and the Trust Property, without interference by the Grantor and as the Beneficiary may deem advisable, (i) insure or reinsure the Premises, (ii) make all necessary or proper repairs, renewals, replacements, alterations, additions, betterments and improvements thereto and thereon and (iii) in every such case in connection with the foregoing have the right to exercise all rights and powers of the Grantor with respect to the Trust Property, either in the Grantor’s 's name or otherwise. For the purpose of carrying out the provisions of this Paragraph 23(i), the Grantor hereby constitutes and appoints the Beneficiary the true and lawful attorney-in-fact of the Grantor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in the Grantor’s 's name and stead, to do and perform, from time to time, any and all actions necessary and incidental to such purpose and does by these presents ratify and confirm any and all actions of said attorney-in-fact in and with respect to the Trust Property.