Common use of Keeper Clause in Contracts

Keeper. In the event the Collateral, or any part thereof, is seized as an incident to an action for the recognition or enforcement of this Mortgage by executory process, ordinary process, sequestration, writ of fieri facias or otherwise, BEEOO and W&T agree that the court issuing any such order shall, if petitioned for by W&T, direct the applicable sheriff to appoint as a keeper of the Collateral, W&T or any agent designated by W&T or any person named by W&T at the time such seizure is effected. This designation is pursuant to Louisiana Revised Statutes 9:5131-5135 and 9:5136-5140.2, as the same may be amended, and W&T shall be entitled to all the rights and benefits afforded thereunder. It is hereby agreed that the keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Collateral, a reasonable compensation, which shall be included as Indebtedness secured by this Mortgage. The designation of keeper made herein shall not be deemed to require W&T to provoke the appointment of such a keeper.

Keeper. In the event the Collateral, or any part thereof, is seized as an incident to an action for the recognition or enforcement of this Mortgage by executory process, ordinary process, sequestration, writ of fieri facias or otherwise, BEEOO the Mortgagor and W&T the Lender agree that the court issuing any such order shall, if petitioned for by W&TLender, direct the applicable sheriff to appoint as a keeper of the Collateral, W&T the Lender or any agent designated by W&T Lender or any person named by W&T the Lender at the time such seizure is effected. This designation is pursuant to Louisiana Revised Statutes 9:5131-9:5131 through 5135 and 9:5136-9:5136 through 5140.2, as the same may be amended, and W&T Lender shall be entitled to all the rights and benefits afforded thereunder. It is hereby agreed that the keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Collateral, a reasonable compensationan amount equal to two percent of the gross revenues of the Collateral, which shall be included as Indebtedness secured by this Mortgage. The designation of keeper made herein shall not be deemed to require W&T Lender to provoke the appointment of such a keeper.

Keeper. In the event the CollateralProperty, or any part thereof, is seized as an incident to an action for the recognition or enforcement of this Mortgage by executory process, ordinary process, sequestration, writ of fieri facias or otherwise, BEEOO Mortgagor and W&T the Holder agree that the court issuing any such order shall, if petitioned for by W&THolder, direct the applicable sheriff to appoint as a keeper of the CollateralProperty, W&T the Holder or any agent designated by W&T Holder or any person named by W&T the Holder at the time such seizure is effected. This designation is pursuant to Louisiana Revised Statutes 9:5131-9:5131 through 5135 and 9:5136-9:5136 through 5140.2, as the same may be amended, and W&T Holder shall be entitled to all the rights and benefits afforded thereunder. It is hereby agreed that the keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the CollateralProperty, a reasonable compensationan amount equal to five percent of the gross revenues of the Property, which shall be included as Indebtedness secured indebtedness secured by this Mortgage. The designation of keeper made herein shall not be deemed to require W&T Holder to provoke the appointment of such a keeper.

Keeper. In the event the Collateral, or any part thereof, is seized as an incident to an action for the recognition or enforcement of this Mortgage by executory process, ordinary process, sequestration, writ of fieri facias or otherwise, BEEOO the Borrower and W&T the Lender agree that the court issuing any such order shall, if petitioned for by W&TLender, direct the applicable sheriff to appoint as a keeper of the Collateral, W&T the Lender or any agent designated by W&T Lender or any person named by W&T the Lender at the time such seizure is effected. This designation is pursuant to Louisiana Revised Statutes 9:5131-9:5131 through 5135 and 9:5136-9:5136 through 5140.2, as the same may be amended, and W&T Lender shall be entitled to all the rights and benefits afforded thereunder. It is hereby agreed that the keeper shall be entitled to receive as compensation, in excess of its reasonable costs and expenses incurred in the administration or preservation of the Collateral, a reasonable compensationan amount equal to 3% of the gross revenues of the Collateral, which shall be included as Indebtedness secured by this Mortgage. The designation of keeper made herein shall not be deemed to require W&T Lender to provoke the appointment of such a keeper.