Mortgagee's Powers Sample Clauses
The 'Mortgagee's Powers' clause defines the rights and authorities granted to the lender (mortgagee) in relation to the mortgaged property. Typically, this clause allows the mortgagee to take certain actions if the borrower defaults, such as entering the property, collecting rents, or selling the property to recover the outstanding loan balance. By clearly outlining these powers, the clause ensures the lender has effective remedies to protect their financial interest and provides a clear framework for enforcement in the event of default.
Mortgagee's Powers. Without affecting the liability of any other person liable for the payment of any Obligation herein mentioned, and without affecting the first priority Lien and security interest or charge of this Mortgage upon any portion of the Collateral not then or theretofore released as security for the full amount of all unpaid Secured Obligations, Mortgagee may, from time to time and without notice, (a) release any persons liable, (b) extend the maturity or alter any of the terms of any such obligation, (c) permit the issuance of additional Loans and/or indebtedness under the Credit Agreement, (d) grant other indulgences, (e) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee’s option any parcel, portion or all of the Collateral, (f) take or release any other or additional security for any obligation herein mentioned, or (g) make compositions or other arrangements with Mortgagor in relation thereto.
Mortgagee's Powers. That without affecting the liability of any other person liable for the payment or performance of any obligation herein mentioned, and without affecting the lien or charge of this Mortgage upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of all unpaid Secured Obligations, Mortgagee may, from time to time and without notice (i) release any person so liable, (ii) extend the maturity or alter any of the terms of the Secured Obligations, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee's option, any parcel, portion or all of the Mortgaged Property, (v) accept or release any other or additional security for the Secured Obligations, (vi) make compositions or other arrangements with debtors in relation thereto, or (vii) advance additional funds to protect the security hereof and pay or discharge the obligations of Mortgagor hereunder or under the Loan Documents, and all amounts so advanced, with interest thereon at the Default Rate set forth in the Note, shall be secured hereby.
Mortgagee's Powers. 9.1 If an Event of Default shall occur and be continuing, and the Facility Agent shall demand payment of all or any part of the Obligations, the security constituted by the Mortgage and this Deed shall become immediately enforceable and the Mortgagee shall be entitled to exercise all or any of the rights, powers, discretions and remedies vested in the Mortgagee by this Clause without any requirement for any court order or declaration that an Event of Default has occurred. The Mortgagee's right to exercise those rights, powers, discretions and remedies shall be in addition to and without prejudice to all other rights, powers, discretions and remedies to which it may be entitled, whether by statute or otherwise. The Mortgagee shall be entitled to exercise its rights, powers, discretions and remedies despite any rule of law or equity to the contrary, and whether or not any previous default shall have been waived, and in particular without the limitations contained in Section 103 of the Law of Property ▇▇▇ ▇▇▇▇ or any statutory provision which the Mortgagee considers analogous to that section under the law of any other relevant jurisdiction.
9.2 In the circumstances described in Clause 9.1, the Mortgagee shall be entitled (but not obliged) to:
9.2.1 take possession of the Vessel wherever she may be; and/or
9.2.2 discharge the master and crew of the Vessel and employ a new master and crew; and/or
9.2.3 navigate the Vessel to such places as the Mortgagee may decide or detain or lay up the Vessel; and/or
9.2.4 in the name of the Mortgagee or the name of the Owner, demand, ▇▇▇ for, receive and give a good receipt for all sums due to the Owner in connection with the Vessel and, in the name of the Mortgagee or the name of the Owner or the name of the Vessel, commence such legal proceedings as it may consider appropriate, or conduct the defence of any legal proceedings commenced against the Vessel or the Owner in its capacity as owner of the Vessel; and/or
9.2.5 to sell the Vessel at public auction, free from any claim of or by the Owner of any nature whatsoever by first giving notice of the time and place of sale with a general description of the property in the following manner:
(a) by publishing such notice for ten (10) consecutive days in a daily newspaper of general circulation published in New York City;
(b) if the place of sale should not be New York City, then also by publication of a similar notice in a daily newspaper, if any, published at the place of sale...
Mortgagee's Powers. (a) The Mortgagee’s powers of enforcement include the power to:
(i) assume control of, and to have it or its nominee registered as holder of legal title to, any Collateral;
(ii) sell, exchange, grant options over, or otherwise dispose of, any Collateral by any method, at any time and on any terms, it thinks fit or to postpone doing of any of these things;
(iii) complete, date and deliver any document delivered to it under this Deed; and
(iv) exercise any other right, power or remedy given to it under this Deed (including to appoint a Receiver) or provided by law.
(b) The Mortgagee may do (or refrain from doing) any of these things in any manner it thinks fit.
Mortgagee's Powers. Subject always to the provisions of the Fourth Priority Security Co-ordination Deed, if an Event of Default shall occur and the Mortgagee shall demand repayment of all or any part of the Secured Obligations, the security constituted by this Deed shall become immediately enforceable and at any time thereafter whilst such event shall be continuing the Mortgagee shall be entitled to exercise all or any of the rights, powers, discretions or remedies vested in the Mortgagee by this Clause without any requirement for any court order or declaration that an
Mortgagee's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Mortgage upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of all unpaid obligations, Mortgagee or any Lender may, from time to time and without notice (i) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligation, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee's option any parcel, portion or all of the Mortgaged Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other arrangements with debtors in relation thereto. For purposes of clarification, this Section 1.21 does not grant Mortgagee the right to modify the terms of the Loan without Mortgagor's consent.
Mortgagee's Powers. Subject always to the provisions of the Fourth Priority Security Co-ordination Deed, if an Event of Default shall occur and the Mortgagee shall demand repayment of all or any part of the Secured Obligations, the security constituted by this Deed shall become immediately enforceable and at any time thereafter whilst such event shall be continuing the Mortgagee shall be entitled to exercise all or any of the rights, powers, discretions or remedies vested in the Mortgagee by this Clause without any requirement for any court order or declaration that an Event of Default has occurred. The Mortgagee’s right to exercise those rights, powers, discretions and remedies shall be in addition to and without prejudice to all other rights, powers, discretions and remedies to which they may be entitled, whether by law or otherwise. The Mortgagee shall be entitled to exercise their rights, powers, discretions and remedies despite any rule of law or equity to the contrary, and whether or not any previous default shall have been waived, and in particular without any limitations imposed by law.
Mortgagee's Powers. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Mortgage upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of all unpaid obligations, Mortgagee may, from time to time and without notice (i) release any person so liable, (ii) extend the maturity or alter any of the terms of any such obligation, (iii) grant other indulgences, (iv) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee's option any parcel, portion or all of the Mortgaged Property, (v) take or release any other or additional security for any obligation herein mentioned, or (vi) make compositions or other arrangements with debtors in relation thereto.
Mortgagee's Powers. 19 2.17. Financial Statements; Annual Rent Roll...........................................................20 2.18. Mortgagor's Existence and Authorizations.........................................................20 2.19.
Mortgagee's Powers. To the extent permitted by the Financing Agreements and without affecting the liability of any other Person liable for the payment of any obligations herein mentioned and without affecting the Lien of this Mortgage upon any portion of the Mortgaged Property not then or theretofore released as security for the full amount of all unpaid Obligations, from time to time, regardless of consideration and without notice to or consent by the holder of any subordinate Lien, right, title or interest in or to the Mortgaged Property, Mortgagee may, (a) release any persons liable, (b) extend the maturity or alter any of the terms of any such Obligation, (c) modify the interest rate payable on the principal balance of the Obligations, (d) grant other indulgences, (e) release or reconvey, or cause to be released or reconveyed at any time at Mortgagee's option any parcel, portion or all of the Mortgaged Property, (f) take or release any other or additional security for any obligations herein mentioned, or (g) make compositions or other arrangements with debtors in relation thereto.