Common use of Mortgage Remedies Clause in Contracts

Mortgage Remedies. Without limiting any other remedies set forth in this Lease, and also, without limiting the generality of Article XXIV hereof, the Lessor for the benefit and at the direction of the Required Participants, may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder, or (to the extent permitted by law) for the sale of the Site, Leased Property or the other Collateral, or against the Lessee on a recourse basis for the Lease Balance and all other amounts owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative Documents (including but without duplication, accrued and unpaid Rent), or for the specific performance of any covenant or agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Property or the other Collateral, or for the enforcement of any other appropriate legal or equitable remedy. The Lessor shall have all rights available to a mortgagee under the laws of the State of New York. In the event that any provisions of this Lease shall be inconsistent with any Applicable Laws, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall grant the Lessor any rights or remedies upon default of the Lessee which are more limited than the rights that would otherwise be vested in the Lessor under such Applicable Laws in the absence of such provision, the Lessor shall be vested with the rights granted in such Applicable Laws to the full extent permitted by law.

Mortgage Remedies. Without limiting any other remedies set forth in this Lease, and also, without limiting the generality of Article XXIV hereof, if an Event of Default has occurred and is continuing (but subject to the rights of the Lessee to purchase the Leased Property pursuant to the terms and within the time periods as set forth in Section 18.1, if any), the Lessor for the benefit and at the direction of the Required Participants, may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder, or (to the extent permitted by law) for the sale of the Site, Leased Property or the other Collateral, or against the Lessee on a recourse basis for the Lease Balance and all other amounts owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative Documents (including but without duplication, accrued and unpaid Rent), or for the specific performance of any covenant or agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Property or the other Collateral, or for the enforcement of any other appropriate legal or equitable remedy. The Lessor shall have all rights available to a mortgagee under the laws of the State of New York. In the event that any provisions of this Lease shall be inconsistent with any Applicable Laws, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall grant the Lessor any rights or remedies upon default of the Lessee which are more limited than the rights that would otherwise be vested in the Lessor under such Applicable Laws in the absence of such provision, the Lessor shall be vested with the rights granted in such Applicable Laws to the full extent permitted by law.

Mortgage Remedies. Without limiting any other remedies set forth in this Lease(a) With respect to the Mill II Georgia ----------------- Tenneco Mortgage, if an Event of Default shall have occurred and also, without limiting the generality of Article XXIV hereofbe continuing, the Lessor for the benefit and Lessor, at the direction of Agent and in accordance with the Required ParticipantsInterparty Agreement, may proceed by a suit sell the portion of the Mill II Property situated in the State of Georgia or suits any part thereof, at one or more public sale or sales before the door of the courthouse of the county in equity or at lawwhich the Mill II Property is situated, whether for a foreclosure hereunder, or (to the extent permitted by lawhighest bidder for cash, in order to satisfy the Mill II Loan Amount and all expenses of sale and of all proceedings in connection therewith, including reasonable attorneys' fees, after advertising the same, place and terms of sale once a week for four (4) for weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which Sheriffs' Sales are advertised in said county. At any such public sale, the Lessor, as Grantee, may execute and deliver to the purchaser a conveyance of Lessee' interests in the Mill II Property situate in the State of Georgia and to this end, Lessee, as Grantor, hereby constitutes and appoints Lessor the agent and attorney-in-fact of Lessee to make such sale and conveyance, and thereby to divest Lessee of all right, title and equity that Lessee may have in and to the portion of the SiteMill II Property situate in the State of Georgia and to vest the same in the purchaser or purchasers at such sale or sales and all the acts and doings of said agent and attorney-in-fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Lessee. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, Leased Property are granted as cumulative of the other remedies provided hereby or by law for collection of the Mill II Loan Amount and shall not be exhausted by one exercise thereof but may be exercised until full payment or the other CollateralMill II Loan Amount and performance of all the obligations under the Operative Documents. In the event of any sale under this subparagraph 8(a) by virtue of the exercise of the powers herein granted, pursuant to any order and any judicial proceeding or against otherwise, the Lessee on a recourse basis for portion of the Lease Balance Mill II Property situate in the State of Georgia may be sold as an entirety or in separate parcels and all other amounts owing in such manner or order as Lessor, upon direction by Lessee to the Administrative Agent, in its sole discretion may elect, and if anyLessor so elects, and/or until the Participants entire portion of the Mill II Property situate in the State of Georgia is sold or the Mill II Loan Amount is paid and the obligations under the Operative Documents (including but without duplicationperformed in full. If the Mill II Loan Amount is now or hereafter further secured by any chattel mortgages, accrued pledges, guarantees, assignments of lease or security instruments, Lessor, as Grantee, may at its option exhaust the remedies granted under any of said security instruments either concurrently or independently, and unpaid Rent)in such order as Lessor, as Grantee, may determine. Upon any foreclosure sale pursuant to the power herein granted or otherwise, Lessor, as Grantee, may bid for and purchase the specific performance of any covenant or agreement contained herein or in aid portion of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Mill II Property or the other Collateral, or for the enforcement of any other appropriate legal or equitable remedy. The Lessor shall have all rights available to a mortgagee under the laws of situate in the State of New York. In the event that any provisions of this Lease Georgia and shall be inconsistent with entitled to apply all or any Applicable Laws, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall grant the Lessor any rights or remedies upon default part of the Lessee which are more limited than the rights that would otherwise be vested in the Lessor under such Applicable Laws in the absence of such provision, the Lessor shall be vested with the rights granted in such Applicable Laws Mill II Loan Amount secured hereby as a credit to the full extent permitted by lawpurchase price.

Mortgage Remedies. Without limiting any other remedies set forth in this Lease(i) If an Event of Default shall have occurred and be continuing, then upon demand of the Secured Party the Lessee shall forthwith surrender to the Secured Party the actual possession of the Collateral and if, and alsoto the extent, without limiting the generality of Article XXIV hereofpermitted by Applicable Law, the Lessor for the benefit and at the direction of the Required ParticipantsSecured Party itself, or by such officers or agents as it may appoint, may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder, or (to enter and take possession of all the extent permitted by law) for the sale of the Site, Leased Property or the other Collateral, or against the Lessee on a recourse basis for the Lease Balance and all other amounts owing by Lessee to the Administrative Agent, if any, and/or the Participants under the Operative Documents (including but Collateral without duplication, accrued and unpaid Rent), or for the specific performance of any covenant or agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Property or the other Collateralreceiver, or for an application therefor, and may exclude the enforcement of any other appropriate legal or equitable remedy. The Lessor shall Lessee and its agents and employees wholly therefrom, and may have all rights available joint access with the Lessee to a mortgagee under the laws of the State of New York. In the event that any provisions of this Lease shall be inconsistent with any Applicable Lawsbooks, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall grant the Lessor any rights or remedies upon default papers and accounts of the Lessee pertaining to the Collateral. If the Lessee shall for any reason fail to surrender or deliver the Collateral or any part thereof after such demand by the Secured Party, the Secured Party may obtain a judgment or decree conferring upon the Secured Party the right to immediate possession or requiring the Lessee to deliver immediate possession of the Collateral to the Secured Party, to the entry of which are more limited than judgment or decree the Lessee hereby specifically consents. Upon every such entering upon or taking of possession, the Secured Party may hold, store, use, operate, manage and control the Collateral and conduct the business thereof, and, from time to time (A) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (B) insure or keep the Collateral insured; (C) manage and operate the Collateral and exercise all the rights that would and powers of the Lessee to the same extent as the Lessee could in its own name or otherwise with respect to the same; and (D) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted the Secured Party, all as the Secured Party from time to time may determine to be vested in its best interest. The Secured Party may collect and receive all the Lessor under rents, issues, profits and revenues from the Collateral, including those past due as well as those accruing thereafter, and, after deducting (AA) all expenses of taking, holding, managing and operating the Collateral (including compensation for the services of all persons employed for such Applicable Laws in purposes); (BB) the absence cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (CC) the cost of such provisioninsurance; (DD) such Impositions as the Secured Party may at its option pay; (EE) other proper charges upon the Collateral or any part thereof; and (FF) the reasonable compensation, expenses and disbursements of the attorneys and agents of the Secured Party, the Lessor Secured Party shall apply the remainder of the monies and proceeds so received by the Secured Party in accordance with the terms of this Mortgage. Anything in this Section 19(i) to the contrary notwithstanding, the Secured Party shall not be obligated to discharge or perform the duties of a landlord to any tenant or incur any liability as a result of the exercise by the Secured Party of its rights under this Mortgage, and the Secured Party shall be vested with liable to account only for the rights granted in rents, income, issues, profits and revenues actually received by Secured Party. Whenever all that is due upon such Applicable Laws interest, deposits and principal installments and under any of the terms, covenants, conditions and agreements of this Mortgage, shall have been paid and all Events of Default made good, the Secured Party shall surrender possession of the Collateral to the full extent permitted Lessee, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing. In connection with any action taken by lawthe Secured Party pursuant to this Section 19(i), the Secured Party shall not be liable for any loss sustained by the Lessee resulting from any act or omission of the Secured Party in administering, managing, operating or controlling the Collateral, including a loss arising from the ordinary negligence of the Secured Party, unless such loss is caused by its own gross negligence or willful misconduct and bad faith, nor shall the Secured Party be obligated to perform or discharge any obligation, duty or liability of the Lessee. The Lessee hereby assents to, ratifies and confirms any and all actions of the Secured Party with respect to the Collateral taken under this Section 19(i).