Common use of Operation of the Mortgaged Property by Mortgagee Clause in Contracts

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property and to exclude Mortgagors, and Mortgagors' agents or servants, wholly therefrom and to hold, use, administer, manage and operate the same to the extent that Mortgagors shall be at the time entitled to do any of such things and in Mortgagors' place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to Mortgagors.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude Mortgagorseach Mortgagor, and Mortgagors' each Mortgagor’s agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors any Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' such Mortgagor’s place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors any Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors each Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to Mortgagors.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsMortgagor, and Mortgagors' Mortgagor's agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' Mortgagor's place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to MortgagorsMortgagor.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any the Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsXxxxxxxxx, and Mortgagors' Xxxxxxxxx's agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Xxxxxxxxx shall be at the time entitled to do any of such things and in Mortgagors' Xxxxxxxxx's place and stead. Mortgagee (or any Person person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness Obligations in such order as Mortgagee shall electthe manner required under the Credit Agreement, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to MortgagorsMortgagor.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property and to exclude Mortgagors, and Mortgagors' ’ agents or servants, wholly therefrom and to hold, use, administer, manage and operate the same to the extent that Mortgagors shall be at the time entitled to do any of such things and in Mortgagors' ’ place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to Mortgagors.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- and continuance of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any the Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsMortgagor, and Mortgagors' agents Mortgagor’s Administrative Agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' Mortgagor’s place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee Mortgagee, shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness Obligations in such order as Mortgagee shall electthe manner required under the Intercreditor Agreement, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to MortgagorsMortgagor.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and during the acceleration continuance of the Secured Indebtedness under any Credit Agreement, such Event of Default and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person person, firm or corporation designated by Mortgagee) shall, to the extent permitted by applicable law, shall have the right and power, but shall not the obligationbe obligated, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsMortgagor, and Mortgagors' Mortgagor's agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' its place and stead. Mortgagee (Mortgagee, or any Person person, firm or corporation designated by Mortgagee) , may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Propertyproperties, and Mortgagee or any Person person, firm or corporation designated by Mortgagee Mortgagee, shall have the right to collect (but shall not be obligated to) collect, receive and receive receipt for all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall electsaid properties, to make repairs, purchase machinery and equipment, conduct workover work-over operations, drill additional xxxxx wells and to exercise every power, right and privilege of Mortgagors with Mortgagor xxxx respect to the Mortgaged Property. When and if such the expenses of such operation and development (including costs of unsuccessful workover work-over operations or additional xxxxxwells) paid by Mortgagee or attributable to Mortgagor's undivided inxxxxxt therein and withheld, or offset against, by an operator or other party have been paid or reimbursed in full by Mortgagor and the Secured Indebtedness paid and performed in fullpaid, such Mortgaged Property said properties shall, if there has been no sale or foreclosure thereofforeclosure, be returned to MortgagorsMortgagor. Further, in the event that any of the Mortgaged Property is seized as an incident to an action for the recognition or the enforcement of this instrument, whether by executory process, ordinary process, writ of fieri facias, sequestration, or otherwise, the court issuing the order under which the seizure is to be effected shall, if such order is petitioned for by the holder or holders of the Secured Debt or other Indebtedness, direct the sheriff or other officer making the seizure to appoint as keeper of the Mortgaged Property, in accordance with Louisiana Revised Statutes 9:5131 through 5135 and/or 9:5136 through 5140.2, as the same may be amended, such person as may be named by Mortgagee at the time the seizure is effected.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- ------------------------------------------------ of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property and to exclude MortgagorsMortgagor, and Mortgagors' Mortgagor's agents or servants, wholly therefrom and to hold, use, administer, manage and operate the same to the extent that Mortgagors Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' Mortgagor's place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to MortgagorsMortgagor.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- ------------------------------------------------ of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property and to exclude Mortgagors, and Mortgagors' agents or servants, wholly therefrom and to hold, use, administer, manage and operate the same to the extent that Mortgagors shall be at the time entitled to do any of such things and in Mortgagors' place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to Mortgagors.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreementthis Mortgage, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsXxxxxxxxx, and Mortgagors' Xxxxxxxxx’s agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Xxxxxxxxx shall be at the time entitled to do any of such things and in Mortgagors' Xxxxxxxxx’s place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to MortgagorsMortgagor.

Operation of the Mortgaged Property by Mortgagee. Upon the occurrence ------------------------------------------------- of an Event of Default that is continuing and the acceleration of the Secured Indebtedness under any Credit Agreement, and in addition to all other rights herein conferred on Mortgagee, Mortgagee (or any Person designated by Mortgagee) shall, to the extent permitted by applicable law, have the right and power, but not the obligation, to enter upon and take possession of any of the Mortgaged Property Property, and to exclude MortgagorsMortgagor, and Mortgagors' Mortgagor's agents or servants, wholly therefrom therefrom, and to hold, use, administer, manage and operate the same to the extent that Mortgagors Mortgagor shall be at the time entitled to do any of such things and in Mortgagors' such Mortgagor's place and stead. Mortgagee (or any Person designated by Mortgagee) may operate the same without any liability or duty to Mortgagors Mortgagor in connection with such operations, except to use ordinary care in the operation of such Mortgaged Property, and Mortgagee or any Person designated by Mortgagee shall have the right to collect and receive all Hydrocarbons produced and sold from the Mortgaged Property, the proceeds of which shall be applied to the Secured Indebtedness in such order as Mortgagee shall elect, to make repairs, purchase machinery and equipment, conduct workover operations, drill additional xxxxx and to exercise every power, right and privilege of Mortgagors Mortgagor with respect to the Mortgaged Property. When and if such expenses of such operation and development (including costs of unsuccessful workover operations or additional xxxxx) have been paid and the Secured Indebtedness paid and performed in full, such Mortgaged Property shall, if there has been no sale or foreclosure thereof, be returned to Mortgagors.