Common use of Mortgagee as Purchaser Clause in Contracts

Mortgagee as Purchaser. Mortgagee shall have the right to become the purchaser at any sale held by Mortgagee or by any receiver or public officer or at any public sale, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s successful bid, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness in such manner and order as Mortgagee may elect.

Appears in 9 contracts

Samples: Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.), Lowcal Agreements (Cellteck Inc.), Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Cellteck Inc.)

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Mortgagee as Purchaser. Mortgagee shall have the right to become the purchaser at any sale held by Mortgagee or by any receiver or public officer or at any public sale, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s 's successful bid, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness in such manner and order as Mortgagee may elect.

Appears in 2 contracts

Samples: Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Compx International Inc), Leasehold Mortgage, Assignment, Security Agreement and Fixture Filing (Nl Industries Inc)

Mortgagee as Purchaser. Mortgagee shall have the right ---------------------- to become the purchaser at any sale held by Mortgagee or substitute or successor or by any receiver or public officer or at any public sale, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s 's successful bid, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness secured indebtedness in such manner and order as Mortgagee may elect.

Appears in 1 contract

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Financing Statement (Wells Real Estate Investment Trust Inc)

Mortgagee as Purchaser. Mortgagee shall have the right to ---------------------- become the purchaser at any sale held by Mortgagee or by any receiver or public officer or at any public sale, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s 's successful bid, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness secured indebtedness in such manner and order as Mortgagee may elect.

Appears in 1 contract

Samples: Mortgage, Assignment and Security Agreement (Wells Real Estate Investment Trust Inc)

Mortgagee as Purchaser. Mortgagee shall have the right to become the purchaser at any sale held by Mortgagee in foreclosure of the liens or by any receiver security interests created or public officer or at any public saleevidenced hereby, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s successful bidthe bid made therefor, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness in such manner and order as Mortgagee may electsecured obligations owing to Mortgagee.

Appears in 1 contract

Samples: Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (Osage Exploration & Development Inc)

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Mortgagee as Purchaser. Mortgagee shall have the right to become the purchaser at any sale held by Mortgagee or by any receiver or public officer or at any public sale, and Mortgagee shall have the right to credit upon the amount of Mortgagee’s successful bid, to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness in such manner and order as Mortgagee may elect.

Appears in 1 contract

Samples: Credit Agreement (Amylin Pharmaceuticals Inc)

Mortgagee as Purchaser. The Mortgagee shall have the right to become the purchaser at any sale held by the Mortgagee or by any court, receiver or public officer or at any public saleso long as the Mortgagee’s bid is not unconscionably low and is otherwise in accordance with applicable law, and the Mortgagee shall have the right to credit upon the amount of Mortgagee’s successful bid, the bid made therefor the amount payable from the net proceeds of such sale to the extent necessary to satisfy such bid, all or any part of the Secured Indebtedness in such manner and order as Mortgagee may electit.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Peak Resources LP)

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