Remedies of Mortgagee. If any Event of Default shall occur and continues, the Mortgagee as agent of the other Noteholders, if any, personally or by attorney, in its or their discretion, may, insofar as not prohibited by law:
(a) (i) take immediate possession of the Mortgaged Property, (ii) collect and receive all credits, outstanding accounts, bills receivable, rents, income, revenues and profits of the Mortgagor, pertaining to or arising from the Mortgaged Property, or any part thereof, and issue binding receipts therefor; and (iii) manage, control and operate the Mortgaged Property as fully as the Mortgagor might do if in possession thereof, including, without limitation, the making of all repairs or replacements deemed necessary or advisable;
(b) Mortgagee, or any employee or agent of it, is hereby constituted and appointed as true and lawful attorney-in-fact of the Mortgagor with full power to (i) notify or require the Mortgagor to notify any and all customers that the Mortgaged Property has been assigned to Mortgagee and/or that Mortgagee has a security interest in the Mortgaged Property; (ii) sign and endorse the name of the Mortgagor upon any notes, checks, acceptances, drafts, money orders, or other instruments of payment (including payments made under any policy of insurance) that may come into possession of Mortgagee, or upon any invoice, freight or express xxxx, xxxx of lading, storage or warehouse receipt, assignment verification or notice in connection with receivables, all in full or part payment of any amount owing to Mortgagee; (iii) send requests for verifications of Mortgaged Property to customers or account debtors; (iv) sell, assign, xxx for, collect, or compromise payment of all or any part of the Mortgaged Property in the name of the Mortgagor or in its own name, or make any other disposition of Mortgaged Property, or any part thereof, for cash, credit, or any combination thereof; and Mortgagee may purchase all or any part of the Mortgaged Property at public or, if permitted by law, private sale, and in lieu of actual payment of such purchase price may set off the amount of such price against amount owing to the Mortgagee; granting to Mortgagee, as the attorney-in-fact of the Mortgagor, full power of substitution and full power to do any and all things necessary to be done in and about the premises fully and effectually as the Mortgagor might or could do but for this appointment, and hereby ratifying all that said attorney-in-fact shall lawfully do or cause...
Remedies of Mortgagee. Upon the occurrence and continuance of an Event of Default beyond any applicable cure period, or in case the principal of the Note shall have become due and payable, whether by lapse of time or by acceleration, then and in every such case Mortgagee may proceed to protect and enforce its right by a suit or suits in equity or at law, either for the specific performance of any covenant or agreement contained herein or in the Assignment, or the Note, or in aid of the execution of any power herein or therein granted, or for the foreclosure of this Mortgage, or for the enforcement of any other appropriate legal or equitable remedy. In case of any sale of the Mortgaged Premises pursuant to any judgment or decree of any court or otherwise in connection with the enforcement of any of the terms of this Mortgage, Mortgagee, its successors or assigns, may become the purchaser, and for the purpose of making settlement for or payment of the purchase price, shall be entitled to turn in and use the Note and any claims for interest matured and unpaid thereon, together with additions to the mortgage debt, if any, in order that such sums may be credited as paid on the purchase price. Each and every power or remedy herein specifically given shall be in addition to every other power or remedy, existing or implied, given now or hereafter existing at law or in equity, and each and every power and remedy herein specifically given or otherwise so existing may be exercised from time to time and as often and in such order as may be deemed expedient by Mortgagee, and the exercise or the beginning of the exercise of one power or remedy shall not be deemed a waiver of the right to exercise at the same time or thereafter any other power or remedy. No delay or omission of Mortgagee in the exercise of any right or power accruing hereunder shall impair any such right or power or be construed to be a waiver of any default or acquiescence therein.
Remedies of Mortgagee. Upon the occurrence of an Enforcement Event, Mortgagee may, without notice to or demand upon Mortgagor, declare this Instrument to be in default, and, in addition to all other rights and remedies at law or in equity available to Mortgagee or as otherwise provided for in the Intercreditor Agreement or the Indentures, to the extent permitted by applicable law, the following provisions shall apply:
Remedies of Mortgagee. If one or more of the Events of Default shall occur and be continuing, the Mortgagee personally or by attorney, in its discretion, may, to the fullest extent permitted by law:
Remedies of Mortgagee. Upon the occurrence of an Event of Default, (a) Mortgagor will pay, from the date of that Event of Default, interest on the unpaid principal balance of the Note at the rate of (i) four percent (4%) over the Applicable Interest Rate (as defined in the Note) due under the Note or (ii) the maximum interest rate which Mortgagor may by law pay, whichever is lower (the "Default Rate"), and (b) Mortgagee shall have the right to exercise any and all rights and remedies available at law and in equity.
Remedies of Mortgagee. Subject to the provisions of the Credit Agreement, upon the occurrence of a Default under the terms of the Credit Agreement ("Event of Default"), in addition to any rights and remedies provided for in the Credit Agreement, and to the extent permitted by applicable law, the following provisions shall apply:
Remedies of Mortgagee. Upon the occurrence of any Event of Default, Mortgagor will pay, from the date of that Event of Default, interest on the unpaid principal balance of the Note at the Default Rate set forth in the Note (the "Default Rate") and Mortgagee shall have the right to exercise any and all rights and remedies available at law and in equity under this Mortgage, including, but not limited to, the following actions (and any other remedies set forth elsewhere in this Mortgage), each of which may be pursued concurrently or otherwise, at such time and in such order as Mortgagee may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of Mortgagee:
Remedies of Mortgagee. Mortgage Foreclosure. Mortgagor does hereby grant and confer upon Mortgagee the fullest rights and remedies available for foreclosure of this Mortgage by action or by advertisement pursuant to Mm. Stat. Chapters 580, 581 and 582, as said statutes may be amended from time to time, and pursuant to other applicable Minnesota laws and statutes, as amended, governing and authorizing mortgage foreclosures by action and by advertisement; and the power of sale granted Mortgagee in this Mortgage shall include, without limitation, the power of sale required to permit, at Mortgagee's option, lawful foreclosure of this Mortgage by advertisement in accordance with the statutes then made and provided.
Remedies of Mortgagee. Subject to the provisions of the Loan Agreement, upon the occurrence of an Event of Default under the terms of the Loan Agreement, in addition to any rights and remedies provided for in the loan Agreement, and to the extent permitted by applicable law, the following provisions shall apply:
Remedies of Mortgagee. (i) In the event that Lessee fails to comply with the requirements of Paragraphs 49(b) or (c), after notice to Lessee and the earlier ----------------------- of the expiration of any applicable cure period hereunder or the expiration of the cure period permitted under the Relevant Environmental Laws, if any, Mortgagee may, but shall not be obligated to, exercise its right to do one or more of the following: (A) elect that such failure constitutes an Event of Default pursuant to Paragraph 19 herein; and (B) take any and all actions, at ------------ Lessee's expense, that Mortgagee deems necessary or desirable to cure said failure of compliance, provided, however, in the event Mortgagee shall elect to cure said failure of compliance.
(ii) Any costs incurred pursuant to Paragraphs 49(d) and --------------------
