Common use of MORTGAGEE’S REMEDIES Clause in Contracts

MORTGAGEE’S REMEDIES. The mortgagee under any mortgage granted by the Sublessee may exercise any remedies available to it under its mortgage, and in particular, without limiting the generality of the foregoing, may enforce the mortgage and acquire title to this Sublease in any lawful way, directly, by its representative or by a receiver, as the case may be, and in such event may take possession of and manage the Leased Premises and sell or assign this Sublease, with the consent of the Minister and subject to the requirements set out in Section 24.1, in which case the assignee or transferee of the Sublease shall be liable to assume, abide by and perform the covenants, agreements, obligations and liabilities imposed on the Sublessee by this Sublease so long as such assignee or transferee has ownership or possession of the Leased Premises.

MORTGAGEE’S REMEDIES. The mortgagee under any mortgage granted by the Sublessee may exercise any remedies available to it under its mortgage, and in particular, without limiting the generality of the foregoing, may enforce the mortgage and acquire title to this Sublease in any lawful way, directly, by its representative or by a receiver, as the case may be, and in such event may take possession of and manage the Leased Premises and sell or assign this Sublease, with the consent of the Minister and subject to the requirements set out in Section 24.123.1, in which case the assignee or transferee of the Sublease shall be liable to assume, abide by and perform the covenants, agreements, obligations and liabilities imposed on the Sublessee by this Sublease so long as such assignee or transferee has ownership or possession of the Leased Premises.

MORTGAGEE’S REMEDIES. The mortgagee under any mortgage granted by the Sublessee may exercise any remedies available to it under its mortgage, and in particular, without limiting the generality of the foregoing, may enforce the mortgage and acquire title to this Sublease in any lawful way, directly, by its representative or by a receiver, as the case may be, and in such event may take possession of and manage the Leased Premises and sell or assign this Sublease, with the consent of the Minister and subject to the requirements set out in Section 24.123.1, in which case the assignee or transferee of the Sublease shall be liable to assume, abide by and perform the covenants, agreements, obligations and liabilities imposed on the Sublessee by this Sublease so long as such assignee or transferee has ownership or possession of the Leased Premises.