Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law: (a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon; (b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment; (c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold; (d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request; (e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and (f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 5 contracts
Samples: Indenture of Mortgage (PG&E Corp), Indenture of Mortgage (PG&E Corp), Indenture of Mortgage (PG&E Corp)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds Securities are Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds Securities or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 3 contracts
Samples: First Mortgage Indenture (Allegheny Energy, Inc), General and Refunding Mortgage Indenture (Nevada Power Co), General and Refunding Mortgage Indenture (Nevada Power Co)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds Securities are Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds Securities or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer or agent making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 2 contracts
Samples: First Mortgage (Duke Energy Ohio, Inc.), First Mortgage (Duke Energy Ohio, Inc.)
Incidents of Sale. Upon In addition to those provisions contemplated by Article Eight, upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds Securities are Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01301) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds Securities or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-non- application thereof.
Appears in 2 contracts
Samples: Indenture (Arkansas Power & Light Co), Indenture (Louisiana Power & Light Co /La/)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, payable together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company, subject, however, to the rights, if any, held by others to receive collections from former, present or future customers; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or her or their purchase money and such purchaser or purchasers and his or her or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of and accrued interest on the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSenior Partnership Upstream Note, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) subject to the provisions of Section 3.14 and the receipt of any Holder or Holders required prior approvals of Bonds or the Trustee New Jersey Casino Control Commission, Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds the Senior Partnership Upstream Note or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe Senior Partnership Upstream Note, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show partial payment;
(c) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(f) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise anyway answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Indenture of Mortgage and Security Agreement (Trumps Castle Associates Lp)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of and accrued interest on the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsTCHI Notes, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) subject to the provisions of Section 3.14 and the receipt of any Holder or Holders required prior approvals of Bonds or the Trustee New Jersey Casino Control Commission, Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds the TCHI Notes or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe TCHI Notes, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show the partial payment;
(c) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(f) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Indenture of Mortgage and Security Agreement (Trumps Castle Associates Lp)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) subject to the principal amount (or, if provisions of Section 3.13 and the receipt of any required prior approvals of the Bonds are Discount BondsNew Jersey Casino Control Commission, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver the Mortgage Notes or any Outstanding Bonds other Debt Document or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe Mortgage Notes or any other Debt Document, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show partial payment;
(cb) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(dc) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(ed) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwiseother- wise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(fe) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Trump Communications LLC)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyCollateral made or caused to be made by the Collateral Trustee, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by applicable law:
(a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee Secured Party may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess hold and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(cb) the Collateral Trustee may may, but shall not be obligated to, make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;; and
(dc) the Trustee is hereby irrevocably appointed the true and lawful attorney of the CompanyCollateral Trustee, in its own name or pursuant to the power of attorney granted in or pursuant to clause (c) of Section 6.12 by the Borrower, the Partnership and steadeach of the Partners, to may make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; thus sold and for that purpose it the Collateral Trustee may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations Persons with like powerpower (and the Borrower, the Company Partnership and each of the Partners hereby ratifying ratifies and confirming confirms all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Collateral Trustee or by any purchaser, the Company Borrower, the Partnership and each of the Partners, as the case may be, shall ratify and confirm any such sale or transfer by executing and delivering to the Collateral Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, ). Upon a sale of the Company ofGeneral Partnership Interest or the Limited Partnership Interest or substantially all the Project Property, in and whether made under the power of sale hereby given or pursuant to judicial proceedings, the Partnership shall permit, to the property so sold shall be divested extent permitted by applicable law, the purchaser thereof and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, its and against their assigns to take and use the name of the Partnership and to carry on business under such name or any variant or variants thereof and to use and employ any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt other trade names and trademarks of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereofPartnership.
Appears in 1 contract
Samples: Common Security Agreement (Neches River Holding Corp)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds Securities are Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.013.1) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds Securities or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: First Mortgage Indenture (South Jersey Industries Inc)
Incidents of Sale. (a) Upon any sale of any of the Mortgaged Property, whether made under Offshore Collateral by the power of sale hereby given or pursuant to judicial proceedingsOffshore Collateral Agent, to the extent permitted by applicable law:
(ai) the principal amount (orOffshore Collateral Agent, if any for the benefit and on behalf of the Bonds are Discount BondsSecured Parties, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess hold and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(cii) the Trustee Offshore Collateral Agent, for the benefit and on behalf of the Secured Parties, may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property prxxxxty sold;; and
(diii) the Trustee is hereby irrevocably appointed Offshore Collateral Agent, for the true benefit and lawful attorney on behalf of the CompanySecured Parties, in its name and steadown name, to may make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations Persons with like power, power (and the Company Borrower hereby ratifying ratifies and confirming confirms all that its said attorney or such substitute or substitutes the Offshore Collateral Agent shall lawfully do by virtue hereof; but, but if so requested by the Trustee Offshore Collateral Agent or by any purchaser, the Company Borrower shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Offshore Collateral Agent or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer transfers and releases as may be designated in any such request).
(b) Upon any sale of the Onshore Collateral by the Onshore Collateral Agent to the extent permitted by applicable law:
(i) the Onshore Collateral Agent, for the benefit and on behalf of the Secured Parties, may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold and dispose of such property;
(eii) all rightthe Onshore Collateral Agent, title, interest, claim for the benefit and demand whatsoever, either at law or in equity or otherwise, on behalf of the Company ofSecured Parties, in may make and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge deliver to the purchaser or purchasers at a good and sufficient deed, bill of sale and instrument of assignment and transfer of the prxxxxty sold; and
(iii) the Onshore Collateral Agent, for the benefit and on behalf of the Secured Parties, in its own name, may make all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more Persons with like power (and the Borrower hereby ratifies and confirms all that the Onshore Collateral Agent shall lawfully do by virtue hereof; but if so requested by the Onshore Collateral Agent or by any purchaser, the Borrower shall ratify and confirm any such sale for his or their purchase money transfer by executing and delivering to the Onshore Collateral Agent or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and his transfers and releases as may be designated in any such request, it being understood that a failure by Borrower to provide such ratification or confirmation shall not affect Senior Lenders' rights hereunder).
(c) Upon a sale of the combined Common Stock of the Shareholders or substantially all of the Project Property the Borrower shall permit, to the extent permitted by applicable law, the purchaser thereof and its successors and its and their assigns to take and use the name of the Borrower and to carry on business under such name or personal representatives shall notany variant or variants thereof and to use and employ any and all other trade names and trademarks of the Borrower; provided that no such purchaser, after paying such purchase money and receiving such receipt, be obliged to see to successor or assign may take or use the application name "Phelps Dodge" or "Sumitomo" or any variant of such purchase money, or be in anywise answerable for any loss, misapplication or non-application either thereof.
Appears in 1 contract
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, payable together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company, subject, however, to the rights, if any, held by others to receive collections from former, present or future customers; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or her or their purchase money and such purchaser or purchasers and his or her or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Open End Mortgage, General Mortgage Indenture and Deed of Trust (Vistra Corp.)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, or otherwise, to the extent permitted by applicable law:
(a) the principal amount (or, if any of the Bonds Securities are Original Issue Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;; DC1 - 221297.15
(c) the Trustee or Deed of Trust Trustee, as applicable, may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and;
(f) the receipt of the Trustee or the Deed of Trust Trustee, as applicable, or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof; and
(g) if requested by the Trustee, the Company will provide the purchaser or purchasers with (i) such financial or operating data or information relating to the Mortgaged Property as the Company may possess and such purchaser or purchasers reasonably may request as necessary for the proper operation, management and maintenance of the Mortgaged Property purchased, and (ii) reasonable access to such officers of the Company that are familiar with such Mortgaged Property and related business for the purpose of obtaining information necessary for the proper operation, management and maintenance of the Mortgaged Property. The information and access provided by the Company pursuant to clauses (i) and (ii) above will be without charge to the purchaser or purchasers and will be for up to eighteen (18) months after the date of the sale of any Mortgaged Property and shall be subject to such purchaser or purchasers entering into confidentiality agreements reasonably satisfactory to the Company with respect to such data or information.
Appears in 1 contract
Samples: Bond Indenture, Mortgage, Deed of Trust, Security Agreement (Aquila Inc)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds Securities are Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.013.1) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds Securities or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property soldxxxd;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Security Agreement and Mortgage (Pacific Gas & Electric Co)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by applicable law:
(a) the principal amount (or, if any of the Bonds Securities are Original Issue Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and;
(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof; and
(g) if requested by the Trustee, the Company will provide the purchaser or purchasers with (i) such financial or operating data or information relating to the Mortgaged Property as the Company may possess and such purchaser or purchasers reasonably may request as necessary for the proper operation, management and maintenance of the Mortgaged Property purchased, and (ii) reasonable access to such officers of the Company that are familiar with such Mortgaged Property and related business for the purpose of obtaining information necessary for the proper operation, management and maintenance of the Mortgaged Property. The information and access provided by the Company pursuant to clauses (i) and (ii) above will be without charge to the purchaser or purchasers and will be for up to eighteen (18) months after the date of the sale of any Mortgaged Property and shall be subject to such purchaser or purchasers entering into confidentiality agreements reasonably satisfactory to the Company with respect to such data or information.
Appears in 1 contract
Samples: Indenture of Mortgage and Deed of Trust (Aquila Inc)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyCollateral made or caused to be made by the Collateral Trustee, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by applicable law:
(a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee Secured Party may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess hold and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(cb) the Collateral Trustee may may, but shall not be obligated to, make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;; and
(dc) the Trustee is hereby irrevocably appointed the true and lawful attorney of the CompanyCollateral Trustee, in its own name or pursuant to the power of attorney granted in or pursuant to clause (c) of Section 6.13 by the Borrower, the Partnership and steadeach of the Partners, to may make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; thus sold and for that purpose it the Collateral Trustee may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations Persons with like powerpower (and the Borrower, the Company Partnership and each of the Partners hereby ratifying ratifies and confirming confirms all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Collateral Trustee or by any purchaser, the Company Borrower, the Partnership and each of the Partners, as the case may be, shall ratify and confirm any such sale or transfer by executing and delivering to the Collateral Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, ). Upon a sale of the Company ofGeneral Partnership Interest or the Limited Partnership Interest or substantially all the Project Property, in and whether made under the power of sale hereby given or pursuant to judicial proceedings, the Partnership shall permit, to the property so sold shall be divested extent permitted by applicable law, the purchaser thereof and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, its and against their assigns to take and use the name of the Partnership and to carry on business under such name or any variant or variants thereof and to use and employ any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f) the receipt other trade names and trademarks of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereofPartnership.
Appears in 1 contract
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of and accrued interest on the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSenior Partnership Note, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) subject to the provisions of Section 3.14 and the receipt of any Holder or Holders required prior approvals of Bonds or the Trustee New Jersey Casino Control Commission, Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds the Senior Partnership Note or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe Senior Partnership Note, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show partial payment;
(c) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(f) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise anyway answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Indenture of Mortgage and Security Agreement (Trumps Castle Associates Lp)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) subject to the principal amount (or, if provisions of Section 3.13 and the receipt of any required prior approvals of the Bonds are Discount BondsNew Jersey Casino Control Commission, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) any Holder or Holders of Bonds or the Trustee Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver the Mortgage Notes or any Outstanding Bonds other Debt Document or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe Mortgage Notes or any other Debt Document, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show partial payment;
(cb) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(dc) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(ed) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(fe) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Trump Communications LLC)
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) A. the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of and accrued interest on all Outstanding BondsSecured Obligations, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) B. any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money price therefor, deliver any Outstanding Bonds Secured Obligations or claims for interest thereon in lieu of cash to in the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and (unless such Bondssale is effected under power of sale) such Obligations, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c) C. the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property sold;
(d) D. the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) E. all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company, its successors and assigns; and
(f) F. the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof. Upon a sale of substantially all the Trust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, the Company will permit, to the extent permitted by law, the purchaser thereof and its successors and its and their assigns to take and use the name of the Company and to carry on business under such name or any variant or variants thereof and to use and employ any and all other trade names, brands and trade marks of the Company; and in such event, upon written request of such purchaser or its successors, or its or their assigns, the Company will, at the expense of the purchaser, change its name in such manner as to eliminate any similarity.
Appears in 1 contract
Samples: Indenture (Oglethorpe Power Corp)
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a1) the principal amount (or, if any of the Bonds Securities are Original Issue Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01301) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b2) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to in the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c3) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property soldpropertx xxld;
(d4) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e5) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f6) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Incidents of Sale. Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a1) the principal amount (or, if any of the Bonds Securities are Original Issue Discount BondsSecurities, such portion of the principal amount of such Bonds Securities as may be specified in the terms thereof as contemplated by Section 3.01301) of all Outstanding BondsSecurities, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b2) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds Securities or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such BondsSecurities, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof after being appropriately stamped to show partial payment;
(c3) the Trustee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx bill of sale and instrument of assignment and transfer of the property prxxxxty sold;
(d4) the Trustee is hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e5) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and
(f6) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Incidents of Sale. Upon any sale of any of the Mortgaged PropertyTrust Estate, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the extent permitted by law:
(a) the principal amount (or, if any of and accrued interest on the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding BondsSenior Notes, if not previously due, shall at once become and be immediately due and payable, together with premium, if any, and accrued interest, if any, thereon;
(b) subject to the provisions of Section 3.14 and the receipt of any Holder or Holders required prior approvals of Bonds or the Trustee New Jersey Casino Control Commission, Mortgagee may bid for and purchase the property offered for sale, and upon compliance with the terms of sale may hold, retain and retain, possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds the Senior Notes or claims for interest thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bondsthe Senior Notes, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the Holders thereof Mortgagee after being appropriately stamped to show the partial payment;
(c) the Trustee Mortgagee may make and deliver to the purchaser or purchasers a good and sufficient deed, xxxx of sale and instrument of assignment and transfer of the property sold;
(d) the Trustee Mortgagee is hereby irrevocably appointed the true and lawful attorney of the CompanyMortgagor, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so thus sold; and for that purpose it may execute all necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company Mortgagor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof; but, but if so requested by the Trustee Mortgagee or by any purchaser, the Company Mortgagor shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee Mortgagee or to such purchaser or purchasers all proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request;
(e) all right, title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company Mortgagor of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the CompanyMortgagor, its successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the CompanyMortgagor, its successors and assigns; and
(f) the receipt of the Trustee Mortgagee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase money, or be in anywise answerable for any loss, misapplication or non-application thereof.
Appears in 1 contract
Samples: Indenture of Mortgage and Security Agreement (Trumps Castle Associates Lp)
