Right of Authority to Reinstate Mortgages Sample Clauses

Right of Authority to Reinstate Mortgages. If the Option Event is the recordation of a notice of default, then the Authority shall be deemed to be Owner's successor in interest under California Civil Code Section 2924c (or successor sections) solely for purposes of reinstatement of any mortgage on the Premises that has led to the recordation of the notice of default. As Owner's deemed successor in interest, the Authority shall be entitled, but not required, to pay all amounts of principal, interest, taxes, assessments, insurance premiums, advances, costs, attorneys' fees and expenses required to cure the default. If the Authority exercises the Option, then any and all amounts paid by the Authority pursuant to this paragraph shall be treated as Adjustments to the Resale Price for the Premises, as defined in paragraph 11, below.
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Related to Right of Authority to Reinstate Mortgages

  • Grant of Authority As of the Effective Date, GlobalSign hereby grants to Subscriber the authority for the term set forth in Section 7 to use the enclosed Digital Certificate to create Digital Signatures or to use the Digital Certificate in conjunction with Private Key or Public Key operations.

  • Reservation of Authority Nothing in this subpart shall limit the authority of the Secretary to take action to enforce conditions or violations of law, including actions necessary to prevent evasions of this subpart.

  • EXTENT OF AUTHORITY may manage a work area; • exercise a degree of autonomy (advice available on complex or unusual matters); • manage significant projects and/or functions and/or works programmes.

  • TERMINATION OF AUTHORITY Immediately upon the Executive terminating or being terminated from his employment with the Company for any reason, notwithstanding anything else appearing in this Agreement or otherwise, the Executive will stop serving the functions of his terminated or expired position(s) and shall be without any of the authority or responsibility for such position(s).

  • Evidence of Authority The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate or other instrument or paper believed by it to be genuine and to have been properly executed by or on behalf of the Fund. The Custodian may receive and accept a certified copy of a vote of the Board of Directors of the Fund as conclusive evidence (a) of the authority of any person to act in accordance with such vote or (b) of any determination or of any action by the Board of Directors pursuant to the Articles of Incorporation as described in such vote, and such vote may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary.

  • Accountability and extent of authority An employee at this level performs broad tasks involving the utilisation of a range of basic skills in the provision of domestic assistance and simple personal care tasks and is responsible for the quality of their work.

  • Right of Audit 28.1 The Contractor shall keep secure and maintain until six years after the final payment of all sums due under the Contract, or such other period as may be agreed between the Parties, full and accurate records of the Services, all expenditure reimbursed by the Authority and all payments made by the Authority.

  • Revocation of Authorization 1. Either Party may revoke, suspend or limit the operating authorizations or technical permissions of an airline designated by the other Party where:

  • Certification of Authority The undersigned certify that the persons executing this agreement on behalf of City and SDA have legal authority to enter into this agreement on behalf of City and SDA respectively and have full authority to bind City and SDA in a valid Agreement on the terms herein.

  • Warranty of Authority Each person signing this Amendment warrants that he or she is duly authorized to do so and to bind the respective party.

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