Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor shall enter its voluntary appearance in such action, suit or proceeding. (ii) To the extent permitted by law, upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the Beneficiary. (iii) The Grantor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trust, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 5 contracts
Samples: Deed of Trust (Jacobs Entertainment Inc), Credit Line Deed of Trust (Jacobs Entertainment Inc), Credit Line Deed of Trust (Jacobs Entertainment Inc)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise to enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (AX) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DY) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (EZ) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 4 contracts
Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.), Credit Agreement (Novelis South America Holdings LLC)
Legal Proceedings After an Event of Default. (i) 3.4.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.4.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver or other custodian ex parte and without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiverreceiver or other custodian, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryMortgagee.
(iii) The Grantor 3.4.3 Mortgagor shall not (Ai) at any time insist upon, upon or plead, plead or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (Bii) waives all rights to have the Mortgaged Property marshalled on any foreclosure and Mortgagee by acceptance of this Deed of Trust, (C) Mortgage waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage in any jurisdiction to which it has consented under the Indenture or any Security Document and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court jurisdiction has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Mortgagor, for itself and all who may claim under it, waives all rights to have the Mortgaged Property marshalled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductMortgage.
Appears in 4 contracts
Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp), Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp), Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of ---------- gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, subject to the requirements of applicable Law, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law applicable Laws now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable lawLaw, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustLaws, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws Laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Credit Agreement (Valvoline Inc), Credit Agreement (Ashland Inc.)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. thereof To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DB) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (EC) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enactedMortgage. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Legal Proceedings After an Event of Default. (i) 3.5.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Deed to Secure Debt or of any other proceedings in aid of the enforcement hereofof this Deed to Secure Debt, the Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.5.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the Beneficiary.
(iii) The 3.5.3 Grantor shall not (Ai) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Deed to Secure Debt, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trustto Secure Debt, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trustto Secure Debt, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (Cii) waives any and all rights to trial by jury in any action or proceeding related relating to the enforcement hereofof this Deed to Secure Debt, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust to Secure Debt and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust to Secure Debt but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI III in the absence of gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Credit Agreement (Carson Inc), Term Loan and Revolving Credit Agreement (Carson Products Co)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person Person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments Mortgaged Property at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryFirst Priority Indenture.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (CB) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Indenture (Trump Indiana Inc), First Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI X in the absence of gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Credit Agreement (Ionics Inc), Credit Agreement (SFBC International Inc)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in ---------- the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary Voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations .Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.or
Appears in 1 contract
Samples: Credit Agreement (Gsi Group Inc)
Legal Proceedings After an Event of Default. (i) 3.4.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.4.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver or other custodian ex parte and without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiverreceiver or other custodian, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to Mortgagee. The Mortgagor, for itself and all who may claim under it, hereby waives, to the Beneficiaryextent that it may lawfully do so, the benefits of all laws that require the Mortgagee to post a bond in connection with the appointment of a receiver or other custodian pursuant to this Section 3.4.2.
(iii) The Grantor 3.4.3 Mortgagor shall not (Ai) at any time insist upon, upon or plead, plead or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (Bii) waives all rights to have the Mortgaged Property marshalled on any foreclosure and Mortgagee by acceptance of this Deed of Trust, (C) Mortgage waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage in any jurisdiction to which it has consented under the Indenture or any Security Document and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court jurisdiction has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Mortgagor, for itself and all who may claim under it, waives all rights to have the Mortgaged Property marshalled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductMortgage.
Appears in 1 contract
Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person Person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments Mortgaged Property at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiarySecond Priority Indenture.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (CB) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Indenture (Trump Indiana Inc)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiarySecurity Documents.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (AW) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (CX) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DY) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (EZ) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI IX in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) 3.4.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.4.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver or other custodian ex parte and without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiverreceiver or other custodian, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture and/or the Intercreditor Agreement to the BeneficiaryMortgagee.
(iii) The Grantor 3.4.3 Mortgagor shall not (Ai) at any time insist upon, upon or plead, plead or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (Bii) waives all rights to have the Mortgaged Property marshalled on any foreclosure and Mortgagee by acceptance of this Deed of Trust, (C) Mortgage waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage in any jurisdiction to which it has consented under the Indenture, the Intercreditor Agreement or any Security Document and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court jurisdiction has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Mortgagor, for itself and all who may claim under it, waives all rights to have the Mortgaged Property marshalled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductMortgage.
Appears in 1 contract
Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Rti Capital Corp)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the each applicable Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Each Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the Beneficiary.
(iii) The No Grantor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trust, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the each Grantor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful ---------- misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) 3.5.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby of or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.5.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryObligations.
(iii) The Grantor 3.5.3 Mortgagor shall not (Ai) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction jurisdiction, or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, all right of redemption under the Act of May 8, 1899 of the General Assembly of Arkansas, and acts amendatory thereof, and any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives Mortgage and any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Mortgagor, for itself and all who may claim under it, waives all right to have the Mortgaged Property marshaled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductMortgage.
Appears in 1 contract
Legal Proceedings After an Event of Default. (ia) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations amounts hereby secured or any part thereof, or of any proceedings to foreclose the Lien mortgage, charge and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Debenture or of any other proceedings in aid of the enforcement hereofof this Debenture, the Grantor Debtor shall enter its voluntary appearance in such action, suit or proceeding.
(iib) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Holder shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations amounts hereby secured or any part thereof to be due and payable, to the appointment of a receiver or other custodian, as contemplated by subsection 3.1(d), ex parte and without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations amounts hereby secured or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations amounts hereby secured or any portion thereof. The Grantor Debtor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiverreceiver or other custodian, the Beneficiary Holder shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture and/or the applicable Intercreditor Agreements to the BeneficiaryHolder.
(iiic) The Grantor Debtor shall not (Ai) at any time insist upon, upon or plead, plead or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Debenture, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustDebenture, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Debtor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustDebenture, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (Cii) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Debenture, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Debenture in any jurisdiction to which it has consented under the Indenture, any Indenture Document and/or the applicable Intercreditor Agreements and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court jurisdiction has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Holder by this Deed of Trust Debenture, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Debtor, for itself and all who may claim under it, waives all rights to have the Mortgaged Property marshalled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductDebenture.
Appears in 1 contract
Samples: Fixed and Floating Charge Debenture (Seven Seas Steamship Co Nv)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof or to sell the Mortgaged Property or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture or the other Notes Documents to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Mortgage Modification Agreement (New Enterprise Stone & Lime Co., Inc.)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise to enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (AX) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DY) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further 967770.02F-CHISR01A - MSW waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (EZ) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Credit Agreement (Novelis Inc.)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect 39406775_3 the covenants and terms of performance hereof, hereof or (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the fullest extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) 3.5.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Deed to Secure Debt or of any other proceedings in aid of the enforcement hereofof this Deed to Secure Debt, the Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.5.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the Beneficiary.
(iii) The 3.5.3 Grantor shall not (Ai) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Deed to Secure Debt, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trustto Secure Debt, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trustto Secure Debt, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (Cii) waives any and all rights to trial by jury in any action or proceeding related relating to the enforcement hereofof DRAFT: March 21, 1997 H:\WPCDOCS\1186\141461 this Deed to Secure Debt, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust to Secure Debt and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust to Secure Debt but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI III in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Credit Agreement (Carson Inc)
Legal Proceedings After an Event of Default. (i) 3.5.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.5.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor 3.5.3 Mortgagor shall not (Ai) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (Cii) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI III in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the each applicable Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Such receiver may be obtained pursuant to an application to a court of competent jurisdiction and obtained from such court as a matter of strict right and without notice to Grantor or regard to the adequacy of the Mortgaged Property for the satisfaction of the Secured Obligations. Each Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryBeneficiary and shall have all the usual powers and duties of receivers in similar cases, including the full power to rent, maintain and otherwise operate the Mortgaged Property upon such terms as may be approved by the court.
(iii) The No Grantor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trust, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the each Grantor hereby expressly expressly, irrevocably and unconditionally (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum forum, (E) waives the right to all notices of any Event of Default or of any election by Trustee or Beneficiary to exercise or the actual exercise of any right, remedy or recourse provided for under the Loan Documents, and (EF) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Deed of Trust (Jalou Cashs LLC)
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) 3.4.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereofthereof in accordance with the terms hereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Mortgage or of any other proceedings in aid of the enforcement hereofof this Mortgage, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.4.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof are declared to be due and payable, to the appointment of a receiver or other custodian ex parte and without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiverreceiver or other custodian, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture this Mortgage to the BeneficiaryMortgagee.
(iii) The Grantor 3.4.3 Mortgagor shall not (Ai) at any time insist upon, upon or plead, plead or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Mortgage, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (Bii) waives all rights to have the Mortgaged Property marshalled on any foreclosure and Mortgagee by acceptance of this Deed of Trust, (C) Mortgage waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereofof this Mortgage, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage in any jurisdiction to which it has consented under any Debt Instrument and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court jurisdiction has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage, but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable Mortgagor, for itself and all who may claim under it, waives all rights to have the Mortgaged Property marshalled on any incorrect or improper payment made pursuant to foreclosure of this Article XI in the absence of gross negligence or willful misconductMortgage.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person Person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments Mortgaged Property at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiarySecond Priority Indenture.
(iii) The Grantor Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly expressly
(A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (CB) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and during its continuance and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture to the BeneficiaryMortgagee.
(iii) The Grantor To the extent permitted by applicable law, the Mortgagor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor Mortgagor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustMortgage, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (D) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (E) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Mortgage Agreement (Listerhill Total Maintenance Center LLC)
Legal Proceedings After an Event of Default. (i) 3.5.1 After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof of this Deed of Trust or of any other proceedings in aid of the enforcement hereofof this Deed of Trust, the Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon 3.5.2 Upon the occurrence and during the continuance of an Event of Default, the Beneficiary shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the Beneficiary.
(iii) The 3.5.3 Grantor shall not (Ai) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereofof this Deed of Trust, (Bii) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of Trust, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (Ciii) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (Ai) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (Bii) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of TrustWAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING RELATED TO THE ENFORCEMENT OF THIS DEED OF TRUST, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (Diii) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (Eiv) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI III in the absence of gross negligence or willful misconduct. Beneficiary may request Trustee to proceed with foreclosure, and in such event Trustee is hereby authorized and empowered, and it shall be Trustee’s special duty, upon such request of Beneficiary, to sell the Property, or any part thereof, to the highest bidder or bidders for cash or credit, as directed by Beneficiary, at the location at the county courthouse specified by the commissioner’s court of the county in the State of Texas wherein the Land then subject to the lien hereof is situated or, if no such location is specified by the commissioner’s court, then at the location specified in Beneficiary’s notice of such sale to Grantor; provided, that if the Land is situated in more than one county, then such sale of the Property, or part thereof, may be made in any county in the State of Texas wherein any part of the Land then subject to the lien hereof is situated. Any such sale shall be made at public outcry, between the hours of ten o’clock (10:00) a.m. and four o’clock (4:00) p.m. on the first (1st) Tuesday in any month. Written or printed notice of such sale shall be posted at the courthouse door in the county, or if more than one, then in each of the counties, wherein the Land then subject to the lien hereof is situated. Such notice shall designate the county where the Property, or part thereof, will be sold and the earliest time at which the sale will occur, and such notice shall be posted at least twenty-one (21) days prior to the date of sale. Such notice shall also be filed with the county clerk in the county, or if more than one, then in each of the counties wherein the Land is located. Beneficiary shall, at least twenty-one (21) days preceding the date of sale, serve written notice of the proposed sale by certified mail on each debtor obligated to pay the Secured Obligations according to the records of Beneficiary. After such sale, Trustee shall make to the purchaser or purchasers thereunder good and sufficient assignments, deeds, bills of sale, and other instruments, in the name of Grantor, conveying the Property, or part thereof, so sold to the purchaser or purchasers with general warranty of title by Grantor. The sale of a part of the Property shall not exhaust the power of sale, but sales may be made from time to time until the Secured Obligations are paid and performed in full. It shall not be necessary to have present or to exhibit at any such sale any of the Personal Property.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor shall enter its voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary and/or Trustee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor hereby consents to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Purchase Agreement to the Beneficiary.
(iii) The Grantor shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Trust Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Trust Property, or any part thereof, prior to any sale or sales of the Mortgaged Trust Property which may be made pursuant to this Deed of Trust, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, the Grantor hereby expressly (A) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of Trust, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (C) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (DC) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (ED) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary and Trustee by this Deed of Trust but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Legal Proceedings After an Event of Default. (i) After the occurrence and during the continuance of any Event of Default and immediately upon the commencement of any action, suit or legal proceedings to obtain judgment for the Secured Obligations or any part thereof, or of any proceedings to foreclose the Lien and security interest created and evidenced hereby or otherwise enforce the provisions hereof or of any other proceedings in aid of the enforcement hereof, the Grantor Mortgagor shall enter its voluntary Voluntary appearance in such action, suit or proceeding.
(ii) To the extent permitted by law, upon Upon the occurrence and during the continuance of an Event of Default, the Beneficiary Mortgagee shall be entitled forthwith as a matter of right, concurrently or independently of any other right or remedy hereunder either before or after declaring the Secured Obligations .Obligations or any part thereof to be due and payable, to the appointment of a receiver without giving notice to any party and without regard to the adequacy or inadequacy of any security for the Secured Obligations or the solvency or insolvency of any person or entity then legally or equitably liable for the Secured Obligations or any portion thereof. The Grantor Mortgagor and Agency hereby consents consent to the appointment of such receiver. Notwithstanding the appointment of any receiver, the Beneficiary Mortgagee shall be entitled as pledgee to the possession and control of any cash, deposits or instruments at the time held by or payable or deliverable under the terms of the Indenture Credit Agreement to the BeneficiaryMortgagee.
(iii) The Grantor Mortgagor and Agency shall not (A) at any time insist upon, or plead, or in any manner whatsoever claim or take any benefit or advantage of any stay or extension or moratorium law, any exemption from execution or sale of the Mortgaged Property or any part thereof, wherever enacted, now or at any time hereafter in force, which may affect the covenants and terms of performance hereof, (B) claim, take or insist on any benefit or advantage of any law now or hereafter in force providing for the valuation or appraisal of the Mortgaged Property, or any part thereof, prior to any sale or sales of the Mortgaged Property which may be made pursuant to this Deed of TrustMortgage, or pursuant to any decree, judgment or order of any court of competent jurisdiction or (C) after any such sale or sales, claim or exercise any right under any statute heretofore or hereafter enacted to redeem the property so sold or any part thereof. To the extent permitted by applicable law, each of the Grantor hereby Mortgagor and Agency hereby, expressly (Aa) waives all benefit or advantage of any such law or laws, including, without limitation, any statute of limitations applicable to this Deed of TrustMortgage, (B) waives all rights to have the Mortgaged Property marshalled on any foreclosure of this Deed of Trust, (Cb) waives any and all rights to trial by jury in any action or proceeding related to the enforcement hereof, (Dc) waives any objection which it may now or hereafter have to the laying of venue of any action, suit or proceeding brought in connection with this Deed of Trust Mortgage and further waives and agrees not to plead that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum and (Ed) covenants not to hinder, delay or impede the execution of any power granted or delegated to the Beneficiary Mortgagee by this Deed of Trust Mortgage but to suffer and permit the execution of every such power as though no such law or laws had been made or enacted. The Beneficiary Mortgagee shall not be liable for any incorrect or improper payment made pursuant to this Article XI VIII in the absence of gross negligence or willful misconduct.
Appears in 1 contract
Samples: Credit Agreement (Gsi Group Inc)