Common use of Right of Grantee to Credit Sale Clause in Contracts

Right of Grantee to Credit Sale. Upon the occurrence of any sale made under this Deed, whether made under the power of sale or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Grantee may bid for and acquire the Property or any part thereof. In lieu of paying cash therefor, Grantee may make settlement for the purchase price by crediting upon the Indebtedness or other sums secured by this Deed the net sales price after deducting therefrom the expenses of sale and the cost of the action and any other sums which Grantee is authorized to deduct under this Deed. In such event, this Deed, the Credit Agreement, the Notes, if any, Pledge and Security Agreement and documents evidencing expenditures secured hereby may be presented to the Person conducting the sale in order that the amount so used or applied may be credited upon the Indebtedness as having been paid.

Right of Grantee to Credit Sale. Upon the occurrence of any sale made under this Security Deed, whether made under the power of sale or by virtue of non-judicial proceedings or of a judgment or decree of foreclosure and sale, the Grantee may bid for and acquire the Mortgaged Property or any part thereof. In lieu of paying cash therefor, the Grantee may make settlement for the purchase price by crediting upon the Indebtedness Obligations or other sums secured by this Deed Security Deed, the net sales price after deducting therefrom the expenses of sale and the cost of the action and any other sums which the Grantee is authorized to deduct under this Security Deed. In such event, this Security Deed, the Credit Agreement, Indenture and the Notes, if any, Pledge and Security Agreement and documents other Indenture Documents evidencing expenditures secured hereby may be presented to the Person person or persons conducting the sale in order that the amount so used or applied may be credited upon the Indebtedness Obligations as having been paid.

Right of Grantee to Credit Sale. Upon the occurrence of any sale made under this Deed, whether made under the power of sale or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Grantee may bid for and acquire the Subject Property or any part thereof. In lieu of paying cash therefor, Grantee may make settlement for the purchase price by crediting upon the Indebtedness or other sums secured by this Deed the net sales price after deducting therefrom the expenses of sale and the cost of the action and any other sums which Grantee is authorized to deduct under this Deed. In such event, this Deed, the Credit Agreement, the Notes, if any, Pledge and Security Agreement Notes and documents evidencing expenditures secured hereby may be presented to the Person person or persons conducting the sale in order that the amount so used or applied may be credited upon the Indebtedness as having been paid.

Right of Grantee to Credit Sale. Upon the occurrence of any sale made under this Deed, whether made under the power of sale or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Grantee may bid for and acquire the Secured Property or any part thereof. In lieu of paying cash therefor, Grantee may make settlement for the purchase price by crediting upon the Indebtedness Obligations or other sums secured by this Deed Deed, the net sales price after deducting therefrom the expenses of sale and the cost of the action and any other sums which Grantee is authorized to deduct under this Deed. In such event, this Deed, the Amended and Restated Credit Agreement, the Notes, if any, Pledge Guarantee and Security Collateral Agreement and documents evidencing expenditures secured hereby may be presented to the Person person or persons conducting the sale in order that the amount so used or applied may be credited upon the Indebtedness Obligations as having been paid.