Mortgagee Rights and Obligations Sample Clauses

Mortgagee Rights and Obligations. The mortgagee of a mortgage or beneficiary of a deed of trust encumbering the Property, or any part thereof, and their successors and assigns shall, upon written request to City, be entitled to receive from City written notification of any default by Owner of the performance of Owner’s obligations under the Agreement which has not been cured within thirty (30) days following the date of default. If there are no such defaults by Owner, the City Administrative Officer shall notify the requesting Party of that fact in writing.
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Mortgagee Rights and Obligations. The mortgagee of a mortgage or beneficiary of a deed of trust encumbering the Plaza Project site or any part thereof and their successors and assigns shall, upon written request to City, be entitled to receive from City written notification of any Default by Developer under this Agreement which has not been cured within thirty (30) calendar days following either Developer’s receipt of the Notice of Default or Developer’s filing of a voluntary petition in bankruptcy, adjudication of bankruptcy, or general assignment for the benefit of creditors. Notwithstanding Developer’s Default or Developer’s filing of a voluntary petition in bankruptcy, adjudication of bankruptcy, or general assignment for the benefit of creditors, this Agreement shall not be terminated by City as to any mortgagee or beneficiary to whom notice is to be given and to which either of the following is true:
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Mortgagee Rights and Obligations. The mortgagee of a mortgage or beneficiary of a deed of trust encumbering the Project Improvements site or any part thereof and their successors and assigns shall, upon written request to City, be entitled to receive from City written notification of any Default by Developer under this Agreement which has not been cured within thirty (30) Calendar Days following the Developer’s receipt of the Notice of Default. Notwithstanding Developer’s Default, this Agreement shall not be terminated by City as to any mortgagee or beneficiary to whom notice is to be given and to which either of the following is true:
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Mortgagee Rights and Obligations. The mortgagee of a mortgage or beneficiary of a deed of trust encumbering the Project site or any part thereof and their successors and assigns shall, upon written request to City, be entitled to receive from City written notification of any default by Subdivider under this Agreement which has not been cured within thirty (30) Calendar Days following the date of the default. Notwithstanding Subdivider’s default, and provided that City’s prior written approval is obtained for any assignment of the obligations under this Agreement in accordance with Section 29.20, this Agreement shall not be terminated by City as to any mortgagee or beneficiary to whom notice is to be given and to which either of the following is true:  The mortgagee or beneficiary cures any default by Subdivider within thirty (30) Calendar Days after notice of default; or  As to defaults requiring title or possession of the Project site or any portion thereof to effectuate a cure: (i) the mortgagee/beneficiary agrees in writing, within thirty (30) Calendar Days after receipt from City of the written notice of default, to perform Subdivider’s obligations under this Agreement; (ii) the mortgagee/beneficiary commences foreclosure proceedings to reacquire title to the Project site or any part thereof within said sixty (60) Calendar Days and thereafter diligently pursues such foreclosure to completion; and (iii) the mortgagee/beneficiary promptly cures such default after obtaining title or possession. No mortgagee or beneficiary shall have an obligation or duty under this Agreement to perform the obligations of Subdivider or to guarantee such performance. In the event that a mortgagee or beneficiary elects to receive reimbursement in accordance with this Agreement, the mortgagee or beneficiary shall be required to assume and perform the obligations or other affirmative covenants of Subdivider under this Agreement. XXX
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Mortgagee Rights and Obligations 
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Related to Mortgagee Rights and Obligations

  • Other Rights and Obligations of the Authority Upon Termination for any reason whatsoever, the Authority shall:

  • Continuing Rights and Obligations After the satisfaction and discharge of this Indenture, this Indenture will continue for (i) rights of registration of transfer and exchange, (ii) replacement of mutilated, destroyed, lost or stolen Notes, (iii) the rights of the Noteholders to receive payments of principal of and interest on the Notes, (iv) the obligations of the Indenture Trustee and any Note Paying Agent under Section 3.3, (v) the rights, obligations and immunities of the Indenture Trustee under this Indenture and (vi) the rights of the Secured Parties as beneficiaries of this Indenture in the property deposited with the Indenture Trustee payable to them for a period of two years after the satisfaction and discharge.

  • Trustee’s Rights and Obligations The Trustee is entitled to receive, and will be fully protected in relying upon, an Opinion of Counsel stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article is authorized or permitted by the Indenture. If the Trustee has received such an Opinion of Counsel, it shall sign the amendment, supplement or waiver so long as the same does not adversely affect the rights of the Trustee. The Trustee may, but is not obligated to, execute any amendment, supplement or waiver that affects the Trustee’s own rights, duties or immunities under the Indenture.

  • Parties' Rights and Obligations If during the Term there is any Taking of all or any part of the Leased Property or any interest in this Lease by Condemnation, the rights and obligations of the parties shall be determined by this Article XV.

  • Additional Rights and Obligations The author(s) (and their employers as applicable), hereby authorise the Publishers to take such steps as they consider necessary at their own expense in the copyright owner’s name and on their behalf, if they believe that a third party is infringing or is likely to infringe copyright or the rights granted to the Publishers herein in the Contribution without further recourse to the copyright owner(s). The Corresponding Author acknowledges that all versions of the Contribution, and any associated reviews and responses to those reviews, may be published if the Contribution is accepted for publication. The Publishers expressly agree to place the final published post-production Contribution for display on PMC (including their international mirror sites) promptly after publication without extra charge for this deposit to the authors or their employers (provided PMC does not charge the Publishers), which will include any Publisher supplied amendments or retractions. The author(s) acknowledge and accept that BMJ may make additional changes to the Contribution as considered necessary in accordance with standard editorial processes whether before or after publication. The Corresponding Author will usually see proofs for their Contribution and every effort will be made to consult with the Corresponding Author if substantial alterations are made. BMJ may also retract or publish a correction or other notice when it considers this appropriate for legal or editorial reasons and this shall be at its absolute discretion which shall be exercised reasonably.

  • Party B’s Rights and Obligations 1. Party B’s rights

  • Absolute Rights and Obligations This is a guaranty of payment and not of collection. The Guarantors’ Obligations under this Guaranty Agreement shall be joint and several, absolute and unconditional irrespective of, and each Guarantor hereby expressly waives, to the extent permitted by law, any defense to its obligations under this Guaranty Agreement and all Security Instruments to which it is a party by reason of:

  • Finance Parties’ rights and obligations (a) The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

  • Rights and Obligations Except as expressly set forth in this Agreement, no Member, in its capacity as a Member, will have any right, power or authority to transact any business in the name of the Series, participate in the management of the Series or to act for or on behalf of or to bind the Series. A Member will have no rights other than those specifically provided herein or granted by law. Except as required by the Act, no Member, solely by reason of being a member, shall be liable for the debts, liabilities, obligations or expenses of the Series.

  • Assignment of Rights and Obligations (a) Without Owners’ prior written consent, Managing Agent shall not sell, transfer, assign or otherwise dispose of or mortgage, hypothecate or otherwise encumber or permit or suffer any encumbrance of all or any part of its rights and obligations hereunder, and any transfer, encumbrance or other disposition of an interest herein made or attempted in violation of this paragraph shall be void and ineffective, and shall not be binding upon Owners. Notwithstanding the foregoing, Managing Agent may assign its rights and delegate its obligations under this Agreement to any subsidiary of Parent so long as such subsidiary is then and remains Controlled by Parent.

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