Purchase by Mortgagee. Upon any foreclosure sale (whether judicial or nonjudicial), Mortgagee may bid for and purchase the property subject to such sale and, upon compliance with the terms of sale, may hold, retain and possess and dispose of such property in its own absolute right without further accountability.
Appears in 3 contracts
Samples: Credit Agreement (Revel Entertainment Group, LLC), Fee and Leasehold Mortgage, Assignment of Rents and Leases, Fixture Filing and Security Agreement (Marina District Development Company, LLC), Loan and Guaranty Agreement (Showboat Inc)
Purchase by Mortgagee. Upon any foreclosure sale (whether judicial or nonjudicialnon- judicial), Mortgagee may bid for and purchase the property subject to such sale and, upon compliance with the terms of sale, may hold, retain and possess and dispose of such property in its own absolute right without further accountability.
Appears in 1 contract
Samples: Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Allegiant Travel CO)
Purchase by Mortgagee. Upon any such foreclosure sale (whether sale, pursuant to judicial or nonjudicial)proceedings, the Mortgagee may bid for and purchase the property subject to such sale Mortgaged Property and, upon compliance with the terms of sale, may hold, retain and possess and dispose of such property in its own absolute right right, without further accountability.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Enclaves Group Inc)
Purchase by Mortgagee. Upon any foreclosure sale (whether judicial or nonjudicial)sale, the Mortgagee may bid for and purchase the property subject to such sale Mortgaged Premises and, upon compliance with the terms of sale, may hold, retain and possess and dispose of such property in its own absolute right without further accountability.
Appears in 1 contract
Samples: Credit Agreement (American General Hospitality Corp)
