Common use of Judicial Foreclosure; Receivership Clause in Contracts

Judicial Foreclosure; Receivership. Subject to the priority of the Liens created or evidenced by the Senior Mortgages and any security agreement or financing statement executed in connection therewith, and to the terms of the Subordination Agreement and the Securities Purchase Documents: if any of the Indebtedness shall become due and payable and shall not be promptly paid, the Trustee or Mortgagee shall have the right and power to proceed by a suit or suits in equity or at law, whether for the specific performance of any covenant or agreement herein contained or in aid of the execution of any power herein granted, or for any foreclosure hereunder or for the sale of the Mortgaged Property under the judgment or decree of any court or courts of competent jurisdiction, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Mortgaged Property under the order of a court or courts of competent jurisdiction or under executory or other legal process, or for the enforcement of any other appropriate legal or equitable remedy. Any money advanced by the Trustee and/or Mortgagee in connection with any such receivership shall be a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to the Trustee and/or Mortgagee and shall bear interest from the date of making such advance by the Trustee and/or Mortgagee until paid at the Post Default Rate.

Judicial Foreclosure; Receivership. Subject to the priority of the Liens created or evidenced by the Senior Mortgages and any security agreement or financing statement executed in connection therewith, and to the terms of the Subordination Agreement and the Securities Purchase Documents: if If any of the Indebtedness Secured Obligations shall become due and payable and shall not be promptly paidpaid and, as a result, an Event of Default shall have occurred and be continuing, the Trustee or the Mortgagee shall have the right and power to proceed by a suit or suits in equity or at law, whether for the specific performance of any covenant or agreement herein contained or in aid of the execution of any power herein granted, or for any foreclosure hereunder or for the sale of the Mortgaged Property Collateral under the judgment or decree of any court or courts of competent jurisdiction, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Mortgaged Property Collateral under the order of a court or courts of competent jurisdiction or under executory or other legal process, or for the enforcement of any other appropriate legal or equitable remedy. Any money advanced by the Trustee and/or the Mortgagee in connection with any such receivership shall be a demand obligation (which obligation Mortgagor the Trustor hereby expressly promises to pay) owing by Mortgagor the Trustor to the Trustee and/or the Mortgagee and shall bear interest from the date of making such advance by the Trustee and/or the Mortgagee until paid at the Post Post-Default Rate.

Judicial Foreclosure; Receivership. Subject to the priority of the Liens created or evidenced by the Senior Mortgages and any security agreement or financing statement executed in connection therewith, and to the terms of the Subordination Agreement and the Securities Purchase Documents: if If any of the Indebtedness shall become due and payable and shall not be promptly paid, the Trustee or Mortgagee shall have the right and power to proceed by a suit or suits in equity or at law, whether for the specific performance of any covenant or agreement herein contained or in aid of the execution of any Exh G-10 141 power herein granted, or for any foreclosure hereunder or for the sale of the Mortgaged Property under the judgment or decree of any court or courts of competent jurisdiction, or for the appointment of (and Trustee or Mortgagee shall be entitled to the appointment of) a receiver pending any foreclosure hereunder or the sale of the Mortgaged Property under the order of a court or courts of competent jurisdiction or under executory or other legal process, or for the enforcement of any other appropriate legal or equitable remedy. Any money advanced by the Trustee and/or Mortgagee in connection with any such receivership shall be a demand obligation (which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to the Trustee and/or Mortgagee and shall bear interest from the date of making such advance by the Trustee and/or Mortgagee until paid at the Post Default Rate.

Judicial Foreclosure; Receivership. Subject to the priority of the Liens created or evidenced by the Senior Mortgages and any security agreement or financing statement executed in connection therewith, and to the terms of the Subordination Agreement and the Securities Purchase Documents: if If any of the Indebtedness Secured Obligations shall become due and payable and shall not be promptly paid, the Trustee or the Mortgagee shall have the Signature Page CALIFORNIA RESOURCES CORPORATION - Fifth Amendment right and power to proceed by a suit or suits in equity or at law, whether for the specific performance of any covenant or agreement herein contained or in aid of the execution of any power herein granted, or for any foreclosure hereunder or for the sale of the Mortgaged Property Collateral under the judgment or decree of any court or courts of competent jurisdiction, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Mortgaged Property Collateral under the order of a court or courts of competent jurisdiction or under executory or other legal process, or for the enforcement of any other appropriate legal or equitable remedy. Any money advanced by the Trustee and/or the Mortgagee in connection with any such receivership shall be a demand obligation (which obligation Mortgagor the Trustor hereby expressly promises to pay) owing by Mortgagor the Trustor to the Trustee and/or the Mortgagee and shall bear interest from the date of making such advance by the Trustee and/or the Mortgagee until paid at the Post Post-Default Rate.