Possession of the Mortgaged Property Sample Clauses

Possession of the Mortgaged Property. It shall not be necessary for Trustee or Beneficiary to have physically present or constructively in their possession at any sale held by Trustee or Beneficiary or by any court, receiver or public officer any or all of the Mortgaged Property; and Mortgagor shall deliver to the purchasers at such sale on the date of sale the Mortgaged Property purchased by such purchasers at such sale, and if it should be impossible or impracticable for any of such purchasers to take actual delivery of the Mortgaged Property, then the title and right of possession to the Mortgaged Property shall pass to such purchaser at such sale as completely as if the same had been actually present and delivered.
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Possession of the Mortgaged Property. If one or more of the Events of Default shall occur, Mortgagor shall, upon demand, forthwith surrender the actual possession, and, to the extent permitted by law, Mortgagee, by such officers or agents as it may appoint, may enter and take possession of the Mortgaged Property and may exclude Mortgagor, its agents and servants, wholly therefrom, and having and holding the same, may use, operate, manage and control the Mortgaged Property or any part thereof, and upon every such entry Mortgagee, at the expense of Mortgagor and of the Mortgaged Property, from time to time may make all necessary or proper repairs, renewals, replacements and useful or required alterations, additions, betterments and improvements (as provided in the Plans and the Approved Budget) (as such terms are defined in the Loan Agreement) to and upon the Mortgaged Property as to it may seem judicious and pay all costs and expenses of so taking, holding and managing the same, including reasonable compensation to its employees and other agents (including, without limitation, attorney's fees and management and rental commissions) and any taxes, assessments and other charges prior to the legal operation and effect of this Mortgage which Mortgagee may deem it wise or desirable to pay, and in such case Mortgagee shall have the right to manage the Mortgaged Property and to carry on the business and exercise all rights and powers of Mortgagor, either in the name of Mortgagor, or otherwise, as Mortgagee shall deem advisable; and Mortgagee shall be entitled to collect and receive all rents thereof and therefrom. The taking of possession and collection of rents by Mortgagee shall not be construed to be an affirmation of any lease or acceptance of attornment with respect to any lease of all or any portion of the Mortgaged Property. After deducting the expenses of operating the Mortgaged Property and of conducting the business thereof, and of all repairs, maintenance, renewals, replacements, alterations, additions, betterments, improvements (as provided in the Plans and the Approved Budget) and all payments which it may be required or may elect to make for taxes or other proper charges on the Mortgaged Property, or any part thereof, as well as just and reasonable compensation for all its employees and other agents (including, without limitation, attorney's fees and management and rental commissions) engaged and employed, the moneys arising as aforesaid shall be applied to the indebtedness secured hereby...
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Possession of the Mortgaged Property. Following the occurrence and during the continuance of any Event of Default hereunder and upon demand by Xxxxxx at its option, Xxxxxxxx shall immediately surrender or cause the surrender of possession of the interest of Xxxxxxxx in the Premises to Lender. If Borrower or any other occupant is permitted to remain in possession, such possession shall be as tenant of Lender and such occupant: (i) shall on demand pay to Lender monthly, in advance, reasonable use and occupancy charges for the space so occupied; and (ii) in default thereof, may be dispossessed by the usual summary proceedings. Following the occurrence and during the continuance of any Event of Default and upon demand by Xxxxxx, Borrower shall assemble any Collateral that constitutes personal property and has been removed from the Land and make it available at the site of the Land. The covenants herein contained may be enforced by a receiver of the Mortgaged Property or any portion thereof. Nothing in this Section 4.02(l) shall be deemed a waiver of the provisions of this Deed of Trust prohibiting the sale or other disposition of the Mortgaged Property without the prior consent of Lender.
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Possession of the Mortgaged Property. Upon the occurrence of any Event of Default hereunder and the acceleration of the Debt or any portion thereof, Mortgagor, if an occupant of the Mortgaged Property or any part thereof, upon demand of Mortgagee, shall immediately surrender possession of the Mortgaged Property (or the portion thereof so occupied) to Mortgagee, and if Mortgagor is permitted to remain in possession, the possession shall be as a month-to-month tenant of Mortgagee and, on demand, Mortgagor shall pay to Mortgagee monthly, in advance, a reasonable rental for the space so occupied and in default thereof Mortgagor may be dispossessed. The covenants herein contained may be enforced by a receiver of the Mortgaged Property or any part thereof. Nothing in this Section 13.04 shall be deemed to be a waiver of the provisions of this Mortgage making the Transfer of the Mortgaged Property or any part thereof without Mortgagee's prior written consent an Event of Default.
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Possession of the Mortgaged Property. Grantor shall have possession of the Mortgaged Property until Beneficiary has given Grantor notice of default pursuant to terms of the Loan Agreement. 
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Possession of the Mortgaged Property. Upon the occurrence and during the continuance of any Event of Default hereunder which permits acceleration of the Loan and demand by Lender at its option, Borrower shall
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Possession of the Mortgaged Property. Upon the occurrence of any Event of Default hereunder and demand by Lender at its option, Borrower shall immediately surrender or cause the surrender of possession of the Premises to Lender subject to the Permitted Encumbrances. Except as expressly provided in any separate written agreement between Lender and any other occupant of the Premises, if Borrower or such occupant is permitted to remain in possession, such possession shall be as tenant of Lender and such occupant (i) shall on demand pay to Lender monthly, in advance, reasonable use and occupancy charges for the space so occupied, and (ii) in default thereof, may be dispossessed by the usual summary proceedings. Upon
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Possession of the Mortgaged Property. Upon the occurrence and ------------------------------------ during the continuance of any Event of Default hereunder and demand by Lender at its option, Owner shall immediately surrender or cause the surrender of possession of the Mortgaged Property to Lender. If Owner or any other occupant is permitted to remain in possession, such possession shall be as a licensee of Lender and such occupant (i) shall on demand pay to Lender monthly, in advance, reasonable use and occupancy charges for the space so occupied (which shall not, in any event, be less than one hundred percent (100%) of the Debt Service Payments and Securitization Costs set forth in the Loan Documents, and (ii) in default thereof, may be dispossessed by summary proceedings. Upon three (3) days prior demand, Owner shall assemble the Collateral and make it available at any place Lender may designate to allow Lender to take possession and/or dispose of the Collateral. The covenants herein contained may be enforced by a receiver of the Mortgaged Property or any portion thereof.
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Possession of the Mortgaged Property. It shall not be necessary for Mortgagee to have physically present or constructively in its possession at any sale held by Mortgagee or by any court, receiver or public officer any or all of the Mortgaged Property, and Mortgagor shall deliver to the purchaser at such sale on the date of sale the Mortgaged Property purchased by such purchasers at such sale, and, if it should be impossible or impracticable for any of such purchasers to take actual delivery of the Mortgaged Property, then the title and right of possession to the Mortgaged Property shall pass to the purchaser at such sale as completely as if the same had been actually present and delivered. (a) If the Indebtedness shall have been declared due and payable in accordance with the provisions of the Loan Agreement, then the license granted pursuant to Article V hereof shall be automatically revoked, without further action by Mortgagee, without releasing Mortgagor from any Obligations under this Mortgage, and without waiving any Event of Default, and Mortgagee may enter upon and take possession of the Mortgaged
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Related to Possession of the Mortgaged Property

  • Occupancy of the Mortgaged Property As of the related Closing Date the Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. The Mortgagor represented at the time of origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor's primary residence;

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Mortgaged Property Undamaged The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended;

  • Photograph of the Mortgaged Property Survey of the Mortgaged Property, unless a survey is not required by the title insurer.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • Condition of Mortgaged Property Except as Borrower may have disclosed to Lender in writing in connection with the issuance of the Commitment Letter, the Mortgaged Property has not been damaged by fire, water, wind or other cause of loss, or any previous damage to the Mortgaged Property has been fully restored.

  • Mortgaged Property Undamaged; No Condemnation Proceedings There is no proceeding pending or threatened for the total or partial condemnation of the Mortgaged Property. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair. There have not been any condemnation proceedings with respect to the Mortgaged Property and the Seller has no knowledge of any such proceedings in the future;

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.

  • Possession of Collateral Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

  • Operation of Mortgaged Property Hold, lease, develop, manage, operate or otherwise use the Mortgaged Property upon such terms and conditions as Mortgagee may deem reasonable under the circumstances (making such repairs, alterations, additions and improvements and taking other actions, from time to time, as Mortgagee deems necessary or desirable), and apply all Rents and other amounts collected by Mortgagee in connection therewith in accordance with the provisions of Section 5.7.

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