Common use of Mortgagee's Power of Enforcement Clause in Contracts

Mortgagee's Power of Enforcement. If an Event of Default shall have occurred and be continuing, Mortgagee may, either with or without entry or taking possession as hereinabove provided or otherwise, proceed by suit or suits at law in equity or any other appropriate proceeding or remedy (i) to enforce payment of the Note or the performance of any term thereof or any other right, (ii) to foreclose this Instrument and to sell, as an entirety or in separate lots or parcels, the Mortgaged Property, as provided by applicable Arkansas law, and (iii) to pursue any other remedy available to it, all as Mortgagee shall deem most effectual for such purposes. Mortgagee shall take action either by such proceedings or by the exercise of its powers with respect to entry or taking possession, as Mortgagee may determine.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Advocat Inc)

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Mortgagee's Power of Enforcement. If an Event of Default shall have occurred and be is continuing, the Mortgagee may, either with or without entry or taking possession as hereinabove provided or otherwise, proceed by suit or suits at law or in equity or any other appropriate proceeding or remedy (ia) to enforce payment of the Note or the and performance of any term thereof or any other right, all Secured Obligations (iib) to foreclose this Instrument Mortgage and to sell, as an entirety or or, at the option of the Mortgagee, in separate lots or parcels, the Mortgaged Property, as provided by applicable Arkansas law, and (iiic) to pursue any other remedy available to it, all as the Mortgagee shall deem most effectual for such purposes. The Mortgagee shall take action either by such proceedings or by the exercise of its powers with respect to entry or taking possession, as the Mortgagee may determine.

Appears in 1 contract

Samples: Term Loan Agreement (LSB Industries Inc)

Mortgagee's Power of Enforcement. If an Event of Default shall have occurred and be continuingoccurred, Mortgagee may, either with or without entry or taking possession as hereinabove provided or otherwise, proceed by suit or suits at law or in equity or by any other appropriate proceeding or remedy (i) to enforce payment of the Note or the performance of any term thereof or any other right, (iia) to foreclose this Instrument Mortgage and to sell, as an entirety or in separate lots lots, units or parcels, the Mortgaged PropertyPremises and the Collateral, as provided by applicable Arkansas law, under the judgment or decree of a court or courts of competent jurisdiction; and (iiib) to pursue any other remedy available to it, all as Mortgagee shall deem most effectual for such purposes. Mortgagee shall take action either by such proceedings or by the exercise of its powers with respect to entry or taking possession, as Mortgagee may determine.

Appears in 1 contract

Samples: Open End Mortgage of Real Property, Security Agreement of Personal Property, Assignment of Rents and Profits and Fixture Filing

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Mortgagee's Power of Enforcement. If an Event of Default shall have occurred and be is continuing, the Mortgagee may, either with or without entry or taking possession as hereinabove provided or otherwise, proceed by suit or suits at law or in equity or any other appropriate proceeding or remedy (ia) to enforce payment of the Note or the and performance of any term thereof or any other right, all Secured Obligations (iib) to foreclose this Instrument Mortgage and to sell, as an entirety or or, at the option of Mortgagee, in separate lots or parcels, the Mortgaged Property, as provided by applicable Arkansas law, and (iiic) to pursue any other remedy available to it, all as the Mortgagee shall deem most effectual for such purposes. The Mortgagee shall take action either by such proceedings or by the exercise of its powers with respect to entry or taking possession, as the Mortgagee may determine.

Appears in 1 contract

Samples: Term Loan Agreement (LSB Industries Inc)

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