Common use of Occupancy After Foreclosure Clause in Contracts

Occupancy After Foreclosure. Except as otherwise required by applicable law, any sale of the Trust Property or any part thereof in accordance with Section 5.1(e) or Section 5.1(f) hereof will divest all right, title and interest of Grantor in and to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Grantor retains possession of such property or any part thereof subsequent to such sale, Grantor will be considered a tenant at sufferance of the purchaser, and will, if Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

Appears in 8 contracts

Samples: Deed of Trust, Assignment of Rents and Leases, Fixture Filing and Security Agreement (GNLV Corp), Deed of Trust, Assignment of Rents and Leases and Security Agreement (Interdent Inc), Deed of Trust (GNLV Corp)

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Occupancy After Foreclosure. Except as otherwise required by applicable law, any sale of the Trust Property or any part thereof in accordance with Section 5.1(e5.1(f) or Section 5.1(f5.1(g) hereof will divest all right, title and interest of Grantor in and to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Grantor retains possession of such property or any part thereof subsequent to such sale, Grantor will be considered a tenant at sufferance of the purchaser, and will, if Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

Appears in 2 contracts

Samples: Line of Credit Deed of Trust (Erickson Air-Crane Inc.), Line of Credit Deed of Trust (Erickson Air-Crane Inc.)

Occupancy After Foreclosure. Except as otherwise required by applicable law, any Any sale of the Trust Mortgaged Property or any part thereof in accordance with Section 5.1(e5.1(d) or Section 5.1(f(e) hereof will divest all right, title and interest of Grantor in and to the property sold. Subject to applicable lawlaw and any applicable Mortgaged Lease, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Grantor retains possession of such property or any part thereof subsequent to such sale, Grantor will be considered a tenant at sufferance of the purchaser, and will, if Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

Appears in 2 contracts

Samples: Credit Agreement (Consol Energy Inc), Revolving Credit Facility (Consol Energy Inc)

Occupancy After Foreclosure. Except as otherwise required by applicable law, any Any sale of the Trust Mortgaged Property or any part thereof in accordance with Section 5.1(e5.1(d) or Section 5.1(f) hereof will divest all right, title and interest of Grantor in and to the property sold. Subject to applicable law, law [and the Subject Lease,] any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Grantor retains possession of such property or any part thereof subsequent to such sale, subject to applicable law, Grantor will be considered a tenant at sufferance of the purchaser, and will, if Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

Appears in 2 contracts

Samples: Credit Agreement (Icg Communications Inc /De/), Note and Warrant Purchase Agreement (Icg Communications Inc /De/)

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Occupancy After Foreclosure. Except as otherwise required by applicable law, any sale of the Trust Property or any part thereof in accordance with Section 5.1(e6.1(e) or Section 5.1(f6.1(f) hereof will divest all right, title and interest of Grantor in and to the property sold. Subject to applicable law, any purchaser at a foreclosure sale will receive immediate possession of the property purchased. If Grantor retains possession of such property or any part thereof subsequent to such sale, Grantor will be considered a tenant at sufferance of the purchaser, and will, if Grantor remains in possession after demand to remove, be subject to eviction and removal, forcible or otherwise, with or without process of law.

Appears in 1 contract

Samples: Leasehold and Fee Deed of Trust (Oasis Interval Ownership, LLC)

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