Common use of Operation of Mortgaged Property Clause in Contracts

Operation of Mortgaged Property. Hold, lease, manage, operate or otherwise use or permit the use of the Mortgaged Property, either itself or by other Persons, firms or entities, in such manner, for such time and upon such other terms as Beneficiary may deem to be prudent and reasonable under the circumstances (making such repairs, alterations, additions and improvements thereto and taking any and all other action with reference thereto, from time to time, as Beneficiary shall deem necessary or desirable), and apply all amounts collected by Trustee or Beneficiary in connection therewith in accordance with the provisions of Section 8.8.

Appears in 7 contracts

Samples: Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp), Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp), Mortgage, Line of Credit Mortgage and Deed of Trust (Holly Energy Partners Lp)

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Operation of Mortgaged Property. Hold, lease, manage, operate or otherwise use or permit the use of the Mortgaged Property, either itself or by other Persons, firms or entities, in such manner, for such time and upon such other terms as Beneficiary may deem to be prudent and reasonable under the circumstances (making such repairs, alterations, additions and improvements thereto and taking any and all other action with reference thereto, from time to time, as Beneficiary shall deem necessary or desirable), and apply all amounts collected by Trustee or Beneficiary in connection therewith in accordance with the provisions of Section 8.88.7.

Appears in 4 contracts

Samples: LLC Interest Purchase Agreement (HollyFrontier Corp), LLC Interest Purchase Agreement (Holly Energy Partners Lp), Mortgage and Deed of Trust (Holly Energy Partners Lp)

Operation of Mortgaged Property. Hold, lease, manage, operate or otherwise use or permit the use of the Mortgaged Property, either itself or by other Persons, firms or entities, in such manner, for such time and upon such other terms as Beneficiary Mortgagee may deem to be prudent and reasonable under the circumstances (making such repairs, alterations, additions and improvements thereto and taking any and all other action with reference thereto, from time to time, as Beneficiary Mortgagee shall deem necessary or desirable), and apply all amounts collected by Trustee or Beneficiary Mortgagee in connection therewith in accordance with the provisions of Section 8.88.7.

Appears in 2 contracts

Samples: Mortgage (Holly Energy Partners Lp), Mortgage (Holly Energy Partners Lp)

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Operation of Mortgaged Property. Hold, lease, manage, operate or otherwise use or permit the use of the Mortgaged Property, either itself or by other Persons, firms or entities, in such manner, for such time and upon such other terms as Beneficiary may deem to be prudent and reasonable under the circumstances (making such repairs, alterations, additions and improvements thereto and taking any and all other action with reference thereto, from time to time, as Beneficiary shall deem necessary or desirable), and apply all amounts collected by Trustee or Beneficiary in connection therewith in accordance with the provisions of Section 8.88.7.

Appears in 1 contract

Samples: Mortgage and Deed of Trust (Holly Energy Partners Lp)

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