Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor. (b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument. (c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent. (d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 6 contracts
Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Carter Validus Mission Critical REIT, Inc.), Open End Fee and Leasehold Mortgage (Carter Validus Mission Critical REIT, Inc.), Fee and Leasehold Mortgage and Security Agreement (Carter Validus Mission Critical REIT, Inc.)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor Mortgagor to the books, papers and accounts of GrantorMortgagor.
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property to Agent. Grantor Mortgagor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Mortgagor to the same extent as Grantor Mortgagor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to GrantorMortgagor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 3 contracts
Samples: Act of Mortgage, Security Agreement and Assignment of Leases and Rents (Carter Validus Mission Critical REIT, Inc.), Leasehold Mortgage, Security Agreement and Assignment of Leases and Rents (Carter Validus Mission Critical REIT, Inc.), Open End Mortgage (Carter Validus Mission Critical REIT, Inc.)
Right to Enter and Take Possession. (a) If an Event of a Default shall have occurred and be continuingoccurred, GrantorBorrower, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the PropertyPremises and if, and if and to the extent extent, permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, or an application therefortherefore, and may exclude Grantor Borrower and its agents and employees wholly therefrom, and may have joint access with Grantor Borrower to the books, papers and accounts of GrantorBorrower.
(b) If Grantor Borrower shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentLender, Agent Lender may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentLender, and Borrower hereby specifically covenants and agrees that Borrower will not oppose, contest or otherwise hinder or delay Lender in any action or proceeding by Lender to obtain such judgment or decree. Grantor Borrower will pay to Agent, Lender upon demand, all reasonable expenses actually incurred of obtaining such judgment or decree, including reasonable compensation to AgentLender, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Indebtedness and shall be secured by the lien of this InstrumentDeed.
(c) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all the rights and powers of Grantor Borrower to the same extent as Grantor Borrower could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Lender, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the income, rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, andand Lender may apply any monies and proceeds received by Lender, after deducting in whatever order or priority Lender in its sole discretion may determine, to the payment of (1i) all expenses of taking, holding, managing and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2ii) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3iii) the cost of such insurance; (4iv) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5v) other proper charges upon the Property Premises or any part thereof; and (6vi) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentLender; (vii) accrued interest; (viii) deposits required in Paragraph 1.04 and other sums required to be paid under this Deed; or (ix) overdue installments of principal. Anything in this Paragraph 2.03 to the contrary notwithstanding, Agent Lender shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a the result of any exercise by Agent Lender of any its rights under this Instrument or otherwise. Agent Deed, and Lender shall not be liable to account only for any failure to collect the rents, incomes, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by AgentLender.
(d) Whenever In the event that all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed shall have been paid, the Lenders have no obligation to make further Loans be paid and the Issuing Lender has no further obligation to issue Letters of Creditall Defaults shall be cured, and all Events of Default cured, Agent shall surrender as a result thereof Lender surrenders possession of the Property Premises to GrantorBorrower, its successors or assigns. The the same right of taking possession, however, possession shall continue to exist if any subsequent Event of Default shall occur and be continuingoccur.
Appears in 3 contracts
Samples: Deed to Secure Debt and Security Agreement (Adcare Health Systems Inc), Deed to Secure Debt and Security Agreement (Adcare Health Systems Inc), Deed to Secure Debt and Security Agreement (Adcare Health Systems Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Grantor upon demand of AgentGrantee, shall forthwith surrender to Agent Grantee the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Agent Grantee itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentGrantee, Agent Grantee may obtain a judgment or decree conferring upon Agent Grantee the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to AgentGrantee. Grantor will pay to AgentGrantee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentGrantee, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this InstrumentSecurity Deed.
(c) Upon every such entering upon or taking of possession, Agent Grantee may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted AgentGrantee, all as Agent Grantee from time to time may determine to be in its best interest. Agent Grantee may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent Grantee may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentGrantee, Agent Grantee shall apply the remainder of the monies and proceeds so received by Agent Grantee, in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.12.4
Appears in 2 contracts
Samples: Deed to Secure Debt and Security Agreement (Koger Equity Inc), Deed to Secure Debt and Security Agreement (Koger Equity Inc)
Right to Enter and Take Possession. (a) If an any Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentGrantee, shall forthwith surrender to Agent Grantee the actual possession of the PropertyProperty and, and if and to the extent permitted by law, Agent Grantee itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its Grantor’s agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentGrantee, Agent Grantee may obtain a judgment or decree conferring upon Agent Grantee the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantee, and Grantor will pay hereby specifically consents to Agent, upon demand, all expenses the entry of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or and taking of possession, Agent Grantee may hold, store, use, operate, manage manage, control, repair, and control maintain the Property and conduct the business thereof andthereof, from time to time, (i) make and take all other actions deemed necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could by Grantee in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interestfurtherance thereof. Agent Grantee may collect and receive all of the income, rents, profits, issues, profits and revenues from of the Property, including those past due as well as those accruing thereafter, thereafter and, after deducting (1) all expenses of Grantee’s costs associated with taking, holding, managing managing, and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenanceProperty, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent Grantee shall apply the remainder of the monies and proceeds money so received by Agent in accordance with Section 12.5 Grantee to the payment of the Credit AgreementSecured Indebtedness. Agent Notwithstanding anything provided herein to the contrary, Grantee shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Grantee of any its rights under this Instrument or otherwise. Agent Security Deed, and Grantee shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, income, issues, and profits or revenues unless actually received by AgentGrantee.
(d) Whenever all that is due upon the Secured Obligations and under If any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events such Event of Default cured, Agent shall surrender by Grantor hereunder is cured and satisfied to the satisfaction of Grantee prior to any action taken to enforce the Security Deed pursuant to Section 2.05 below such that Grantee returns possession of the Property to Grantor, its successors or assigns. The same the right of taking possession, however, Grantee to take possession from time to time pursuant to this Section 2.03 shall exist if upon the occurrence of any subsequent Event of Default shall occur and be continuinghereunder.
Appears in 2 contracts
Samples: Deed to Secure Debt, Deed to Secure Debt
Right to Enter and Take Possession. (ai) If an Event of Default shall have occurred and be is continuing, GrantorBorrower, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Borrower and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Borrower relating thereto;
(bii) If Grantor Borrower shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentLender, Agent Lender may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Borrower to deliver immediate possession of the Mortgaged Property to AgentLender. Grantor Borrower will pay to AgentLender, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense incurred by Lender, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Security Instrument.;
(ciii) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (iiB) insure or keep the Mortgaged Property insured; (iiiC) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Borrower to the same extent as Grantor Borrower could in its own name or otherwise with respect to the samename; and and/or (ivD) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Lender, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insuranceinsurance deemed necessary by Lender; (4) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5) other proper charges upon the Mortgaged Property or any part thereof; and (6) the reasonable compensationactual fees, expenses and disbursements of the attorneys and agents of AgentLender, Agent Lender shall apply the remainder of the monies and proceeds so received by Agent Lender, first, to the payment of accrued interest; second, to the payment of Imposition Deposits and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Indebtedness then due. Anything in accordance with this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Lender shall have no obligation to discharge any duties of a landlord to any tenant or to not incur any liability as a result of any exercise by Agent Lender of any its rights under this Instrument Security Instrument, and Lender shall be liable to account only for the Rents actually received by Lender;
(iv) If an Event of Default shall exist, Lender may require that Borrower cause all of its Accounts to be paid to one or otherwisemore deposit accounts with Lender, or at Lender’s option, with another financial institution approved by Lender. Agent Borrower assigns and grants to Lender a security interest in, pledge of and right of setoff against all moneys from time to time held in such deposit accounts, to the extent permitted by applicable law. Borrower agrees to promptly notify all of its account debtors, including the Medicaid and Medicare agencies and other account debtors pursuant to all Reimbursement Contracts, to the extent permitted under applicable law and to the extent Borrower maintains such Accounts, to make payments to one or more such deposit accounts upon Lender’s request and as designated by Lender, and Borrower agrees to provide any necessary endorsements to checks, drafts and other forms of payment so that such payments will be properly deposited in such accounts. Lender may require that the deposit accounts be established so as to comply with any applicable Medicaid, Medicare and other requirements applicable to payments of any accounts receivable. Lender may cause moneys to be withdrawn from such deposit accounts and applied to the Indebtedness in such order as Lender may elect, whether or not then due. Borrower appoints Lender as Borrower’s attorney-in-fact, which appointment is coupled with an interest and is irrevocable, to provide any notice, endorse any check, draft or other payment for deposit, or take any other action which Borrower agrees to undertake in accordance with this Section. Lender shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable or to account enforce any Accounts or for any action or omission on the part of Lender, its officers, agents and employees in collecting or enforcing such rents, issues, profits or revenues unless actually received by Agent.Accounts;
(dv) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Indebtedness shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Lender shall surrender possession of the Mortgaged Property to GrantorBorrower, its successors or and/or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 2 contracts
Samples: Mortgage and Security Agreement, Mortgage and Security Agreement (CNL Healthcare Trust, Inc.)
Right to Enter and Take Possession. (a) If an any Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentGrantee, shall forthwith surrender to Agent Grantee the actual possession of the PropertyProperty and, and if and to the extent permitted by law, Agent Grantee itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its Grantor’s agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentXxxxxxx, Agent Grantee may obtain a judgment or decree conferring upon Agent Grantee the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantee, and Grantor will pay hereby specifically consents to Agent, upon demand, all expenses the entry of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or and taking of possession, Agent Grantee may hold, store, use, operate, manage manage, control, repair, and control maintain the Property and conduct the business thereof andthereof, from time to time, (i) make and take all other actions deemed necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could by Grantee in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interestfurtherance thereof. Agent Grantee may collect and receive all of the income, rents, profits, issues, profits and revenues from of the Property, including those past due as well as those accruing thereafter, thereafter and, after deducting (1) all expenses of Grantee’s costs associated with taking, holding, managing managing, and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenanceProperty, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent Grantee shall apply the remainder of the monies and proceeds money so received by Agent in accordance with Section 12.5 Grantee to the payment of the Credit AgreementSecured Indebtedness. Agent Notwithstanding anything provided herein to the contrary, Grantee shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Grantee of any its rights under this Instrument or otherwise. Agent Security Deed, and Grantee shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, income, issues, and profits or revenues unless actually received by AgentGrantee.
(d) Whenever all that is due upon the Secured Obligations and under If any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events such Event of Default cured, Agent shall surrender by Grantor hereunder is cured and satisfied to the satisfaction of Grantee prior to any action taken to enforce the Security Deed pursuant to Section 2.05 below such that Xxxxxxx returns possession of the Property to Grantor, its successors or assigns. The same the right of taking possession, however, Grantee to take possession from time to time pursuant to this Section 2.03 shall exist if upon the occurrence of any subsequent Event of Default shall occur and be continuinghereunder.
Appears in 2 contracts
Samples: Deed to Secure Debt, Security Deed
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all reasonable expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by deemed a part of the lien of this InstrumentSecured Debt.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations Debt and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, all Letters of Credit have terminated, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 2 contracts
Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.;
Appears in 2 contracts
Samples: Deed of Trust, Security Agreement, Assignment of Leases and Rents (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Behringer Harvard Reit I Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor Mortgagor to the books, papers and accounts of GrantorMortgagor.
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property to Agent. Grantor Mortgagor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.;
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the Property, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent Lender may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor Mortgagor to the books, papers and accounts of GrantorXxxxxxxxx.
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentXxxxxx, Agent Xxxxxx may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property to AgentLender. Grantor will pay to Agent, upon demand, all All actually incurred expenses of obtaining such judgment or decree, including reasonable compensation to AgentLender, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by shall become a part of the lien of this InstrumentSecured Debt.
(c) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, component parts, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Mortgagor to the same extent as Grantor Xxxxxxxxx could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted AgentXxxxxx, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit AgreementLender. Agent Lender shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Lender of any rights under this Instrument or otherwise. Agent Lender shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent Lender be liable to account for any such rents, issues, profits or revenues unless actually received by AgentLender.
(d) Whenever all that is due upon the Secured Obligations Debt and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent Xxxxxx shall surrender possession of the Property to GrantorMortgagor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Act of Mortgage
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Collateral Agent, shall forthwith surrender to Collateral Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Collateral Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Collateral Agent, Collateral Agent may obtain a judgment or decree conferring upon Collateral Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Collateral Agent. Grantor Obligor will pay to Collateral Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Collateral Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Collateral Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Collateral Agent, all as Collateral Agent from time to time may determine to be in its best interest. Collateral Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Collateral Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Collateral Agent, Collateral Agent shall apply the remainder of the monies and proceeds so received by Agent Collateral Agent, first to the payment of accrued interest; second to the payment of deposits (as may be required in accordance with Section 12.5 Paragraph 1.04); and third to the payment of the Credit Agreementoverdue installments of principal. Collateral Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Collateral Agent of any rights under this Instrument or otherwise. Collateral Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.the
Appears in 1 contract
Samples: Mortgage, Security Agreement and Fixture Financing Statement (Crown Crafts Inc)
Right to Enter and Take Possession. <PAGE>
(a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the Property, and if Premises and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall shall, for any reason reason, fail to surrender or of deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to ro deliver immediate possession of the Property Premises to AgentBeneficiary, and Grantor hereby specifically consents to the entry of such judgment or decree. Subject to the limitations set forth in Sections 1.2 and 3.11 hereof, Grantor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this InstrumentTrust.
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof andthereof, and from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insuredPremises; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting deduction (1aa) all expenses of taking, holding, managing and operating the Property Premises (including reasonable compensation for the services of all persons employed for such purposes); (2bb) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3cc) the cost of such insurance; (4dd) such taxes, assessments and other similar charges that may become due and payable as Agent Beneficiary may at its option pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest on the Secured Indebtedness; second, to the payment of other sums required to be paid hereunder; and third, to the payment of overdue installments of principal on the Secured Indebtedness. Anything in accordance with this Section 12.5 of 2.3 to the Credit Agreement. Agent contrary notwithstanding, Grantor shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable receive full credit against the Secured Indebtedness for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually all amounts received by AgentBeneficiary as rent under the Lease.
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Property Premises to Grantor, its successors or assigns. The <PAGE> same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Agent, shall forthwith surrender to Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Agent. Grantor Obligor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.collect
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be is continuing, GrantorTrustor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Trustor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.
(b) Trustor relating thereto; If Grantor Trustor shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor Trustor to deliver immediate possession of the Mortgaged Property to AgentBeneficiary. Grantor Trustor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense incurred by Beneficiary, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Security Instrument.
(c) ; Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (iiB) insure or keep the Mortgaged Property insured; (iiiC) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Trustor to the same extent as Grantor Trustor could in its own name or otherwise with respect to the samename; and and/or (ivD) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insuranceinsurance deemed necessary by Beneficiary; (4) such taxes, assessments and other similar charges as Agent Beneficiary may at its option pay; (5) other proper charges upon the Mortgaged Property or any part thereof; and (6) the reasonable compensationactual fees, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of Imposition Deposits and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Indebtedness then due. Anything in accordance with this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation to discharge any duties of a landlord to any tenant or to not incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Instrument Security Instrument, and Beneficiary shall be liable to account only for the Rents actually received by Beneficiary; If an Event of Default shall exist, Beneficiary may require that Trustor cause all of its Accounts to be paid to one or otherwisemore deposit accounts with Beneficiary, or at Beneficiary’s option, with another financial institution approved by Beneficiary. Agent Trustor assigns and grants to Beneficiary a security interest in, pledge of and right of setoff against all moneys from time to time held in such deposit accounts, to the extent permitted by applicable law. Trustor agrees to promptly notify all of its account debtors, including the Medicaid and Medicare agencies and other account debtors pursuant to all Reimbursement Contracts, to the extent permitted under applicable law and to the extent Trustor maintains such Accounts, to make payments to one or more such deposit accounts upon Beneficiary’s request and as designated by Beneficiary, and Trustor agrees to provide any necessary endorsements to checks, drafts and other forms of payment so that such payments will be properly deposited in such accounts. Beneficiary may require that the deposit accounts be established so as to comply with any applicable Medicaid, Medicare and other requirements applicable to payments of any accounts receivable. Beneficiary may cause moneys to be withdrawn from such deposit accounts and applied to the Indebtedness in such order as Beneficiary may elect, whether or not then due. Trustor appoints Beneficiary as Trustor’s attorney-in-fact, which appointment is coupled with an interest and is irrevocable, to provide any notice, endorse any check, draft or other payment for deposit, or take any other action which Trustor agrees to undertake in accordance with this Section. Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable or to account enforce any Accounts or for any action or omission on the part of Beneficiary, its officers, agents and employees in collecting or enforcing such rents, issues, profits or revenues unless actually received Accounts; The provisions of this subsection (iv) are subject to the rights of any holder of a lien on Accounts that is expressly permitted by Agent.
(d) Section 6.2 of the Loan Agreement; Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Indebtedness shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Mortgaged Property to GrantorTrustor, its successors or and/or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Arv Assisted Living Inc)
Right to Enter and Take Possession. To the extent available or permitted under applicable Florida law:
(a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Agent, shall forthwith surrender to Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Agent. Grantor Obligor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this InstrumentMortgage.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent Agent, in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.12.4
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues Revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent Agent, in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues Revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues Revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Revolving Credit Note (Dupont Fabros Technology, Inc.)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Collateral Agent, shall forthwith surrender to Collateral Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Collateral Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Collateral Agent, Collateral Agent may obtain a judgment or decree conferring upon Collateral Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Collateral Agent. Grantor Obligor will pay to Collateral Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Collateral Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Collateral Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Collateral Agent, all as Collateral Agent from time to time may determine to be in its best interest. Collateral Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.the
Appears in 1 contract
Samples: Mortgage, Security Agreement and Fixture Financing Statement (Crown Crafts Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the Property, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent Lender may select) without the appointment of a receiverkeeper, or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor Mortgagor to the books, papers and accounts of Grantor.
(b) Xxxxxxxxx. If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentXxxxxx, Agent Xxxxxx may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property to AgentLender. Grantor will pay to Agent, upon demand, all All actually incurred expenses of obtaining such judgment or decree, including reasonable compensation to AgentLender, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by shall become a part of the lien of this Instrument.
(c) Secured Debt. Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, component parts, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Mortgagor to the same extent as Grantor Xxxxxxxxx could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted AgentXxxxxx, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit AgreementLender. Agent Lender shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Lender of any rights under this Instrument or otherwise. Agent Lender shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent Lender be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Lender. Whenever all that is due upon the Secured Obligations Debt and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent Xxxxxx shall surrender possession of the Property to GrantorMortgagor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Act of Mortgage
Right to Enter and Take Possession. (ai) If an Event of Default shall have occurred and be is continuing, GrantorBorrower, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Borrower and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Borrower relating thereto;
(bii) If Grantor Borrower shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentLender, Agent Lender may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Borrower to deliver immediate possession of the Mortgaged Property to AgentLender. Grantor Borrower will pay to AgentLender, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense actually incurred by Lender, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Security Instrument.;
(ciii) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (iiB) insure or keep the Mortgaged Property insured; (iiiC) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Borrower to the same extent as Grantor Borrower could in its own name or otherwise with respect to the samename; and and/or (ivD) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Lender, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insuranceinsurance deemed necessary by Lender; (4) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5) other proper charges upon the Mortgaged Property or any part thereof; and (6) the actual reasonable compensationfees, expenses and disbursements of the attorneys and agents of AgentLender, Agent Lender shall apply the remainder of the monies and proceeds so received by Agent Lender, first, to the payment of accrued interest; second, to the payment of Imposition Deposits and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Indebtedness then due. Anything in accordance with this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Lender shall have no obligation to discharge any duties of a landlord to any tenant or to not incur any liability as a result of any exercise by Agent Lender of any its rights under this Instrument or otherwise. Agent Security Instrument, and Lender shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such rents, issues, profits or revenues unless the Rents actually received by Agent.Lender;
(div) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Indebtedness shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Lender shall surrender possession of the Mortgaged Property to GrantorBorrower, its successors or and/or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.. Synovus/CHT Acworth GA Owner, LLC 22996-41
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Collateral Agent, shall forthwith surrender to Collateral Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Collateral Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Collateral Agent, Collateral Agent may obtain a judgment or decree conferring upon Collateral Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Collateral Agent. Grantor Obligor will pay to Collateral Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Collateral Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Collateral Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Collateral Agent, all as Collateral Agent from time to time may determine to be in its best interestnecessary. Collateral Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Collateral Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Collateral Agent, Collateral Agent shall apply the remainder of the monies and proceeds so received by Agent Collateral Agent, first to the payment of accrued interest; second to the payment of deposits (as may be required in accordance with Section 12.5 Paragraph 1.04); and third to the payment of the Credit Agreementoverdue installments of principal. Collateral Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Collateral Agent of any rights under this Instrument or otherwise. Collateral Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Collateral Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Collateral Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Instrument, shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default curedmade good, Collateral Agent shall surrender possession of the Property to GrantorObligor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other propertyproperty necessary to maintain the good condition of the Property or to perform obligations with respect to the Property or to comply with any of the Leases; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 21.14 of the Credit Loan Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Collateral Agent, shall forthwith surrender to Collateral Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Collateral Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Collateral Agent, Collateral Agent may obtain a judgment or decree conferring upon Collateral Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Collateral Agent. Grantor Obligor will pay to Collateral Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Collateral Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Collateral Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Collateral Agent, all as Collateral Agent from time to time may determine to be in its best interest. Collateral Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Collateral Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Collateral Agent, Collateral Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 Collateral Agent, first, ratably as to each Bank, to the payment of accrued interest; and second, ratably as to each Bank, to the Credit Agreementpayment of overdue installments of principal. Collateral Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Collateral Agent of any rights under this Instrument or otherwise. Collateral Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Collateral Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Collateral Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Instrument, shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default curedmade good, Collateral Agent shall surrender possession of the Property to GrantorObligor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Credit Agreement (JDN Realty Corp)
Right to Enter and Take Possession. (a1) If an Event of Default shall have occurred and be is continuing, GrantorMortgagor, upon demand of AgentMortgagee, shall forthwith surrender to Agent Mortgagee the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Mortgagee itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Mortgagor relating thereto;
(b2) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentMortgagee, Agent Mortgagee may obtain a judgment or decree conferring upon Agent Mortgagee the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Mortgaged Property to AgentMortgagee. Grantor Mortgagor will pay to AgentMortgagee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense incurred by Mortgagee, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Instrument.;
(c3) Upon every such entering upon or taking of possession, Agent Mortgagee may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (ii) insure or keep the Mortgaged Property insured; (iii) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Mortgagor to the same extent as Grantor Mortgagor could in its own name name; or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Mortgagee, all as Agent Mortgagee from time to time may determine to be in its best interest. Agent Mortgagee may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1A) all reasonable expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2B) the reasonable cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3C) the cost of such insuranceinsurance deemed necessary by Mortgagor; (4D) such taxes, assessments and other similar charges as Agent Mortgagee may at its option pay; (5E) other proper and reasonable charges upon the Mortgaged Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.any
Appears in 1 contract
Right to Enter and Take Possession. (a1) If an Event of Default shall have occurred and be is continuing, Grantor, upon demand of AgentMortgagee, shall forthwith surrender to Agent Mortgagee the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Mortgagee itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Grantor relating thereto;
(b2) If Grantor shall for any reason fail to surrender or deliver possession of the Mortgaged Property or any part thereof after such demand by AgentMortgagee, Agent Mortgagee may obtain a judgment or decree conferring upon Agent Mortgagee the right to immediate possession or requiring Grantor to deliver immediate possession of the Mortgaged Property to AgentMortgagee. Grantor will pay to AgentMortgagee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense incurred by Mortgagee, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Instrument.;
(c3) Upon To the extent permitted by applicable law, upon every such entering upon or taking of possession, Agent Mortgagee may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (ii) insure or keep the Mortgaged Property insured; (iii) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the samename; and and/or (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.the
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the Property, and if Premises and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall shall, for any reason reason, fail to surrender or of deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to ro deliver immediate possession of the Property Premises to AgentBeneficiary, and Grantor hereby specifically consents to the entry of such judgment or decree. Subject to the limitations set forth in Sections 1.2 and 3.11 hereof, Grantor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this InstrumentTrust.
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof andthereof, and from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insuredPremises; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting deduction (1aa) all expenses of taking, holding, managing and operating the Property Premises (including reasonable compensation for the services of all persons employed for such purposes); (2bb) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3cc) the cost of such insurance; (4dd) such taxes, assessments and other similar charges that may become due and payable as Agent Beneficiary may at its option pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest on the Secured Indebtedness; second, to the payment of other sums required to be paid hereunder; and third, to the payment of overdue installments of principal on the Secured Indebtedness. Anything in accordance with this Section 12.5 of 2.3 to the Credit Agreement. Agent contrary notwithstanding, Grantor shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable receive full credit against the Secured Indebtedness for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually all amounts received by AgentBeneficiary as rent under the Lease.
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Property Premises to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Master Industrial Development Lease Agreement (American Woodmark Corp)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuingoccurred, GrantorGrantors, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the PropertyPremises and, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Grantors and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Grantors;
(b) If Grantor Grantors shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor Grantors to deliver immediate possession of the Property Premises to AgentBeneficiary. Grantor Grantors will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this Instrument.Trust;
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor Grantors to the same extent as Grantor Grantors could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting (1A) all expenses of taking, holding, managing and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2B) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3C) the cost of such insurance; (4D) such taxes, assessments and other similar charges as Agent Beneficiary may at its option pay; (5E) other proper charges upon the Property Premises or any part thereof; and (6F) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of deposits required in accordance with Section 12.5 1.04 and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal. Anything in this Section 2.03 to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Instrument or otherwise. Agent Deed of Trust, and Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, issuesincomes, issues and profits or revenues unless actually received by Agent.Beneficiary;
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Property Premises to GrantorGrantors, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Azur International, Inc.)
Right to Enter and Take Possession. (a) a. If an Event of Default shall have occurred and be is continuing, GrantorTrustor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Trustor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Trustor relating thereto;
(b) b. If Grantor Trustor shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor Trustor to deliver immediate possession of the Mortgaged Property to AgentBeneficiary. Grantor Trustor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense incurred by Beneficiary, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Instrument.Security Instrument ;
(c) c. Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (iiB) insure or keep the Mortgaged Property insured; (iiiC) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Trustor to the same extent as Grantor Trustor could in its own name or otherwise with respect to the samename; and and/or (ivD) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insuranceinsurance deemed necessary by Beneficiary; (4) such taxes, assessments and other similar charges as Agent Beneficiary may at its option pay; (5) other proper charges upon the Mortgaged Property or any part thereof; and (6) the reasonable compensationactual fees, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of Imposition Deposits and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Indebtedness then due. Anything in accordance with this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation to discharge any duties of a landlord to any tenant or to not incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Security Instrument , and Beneficiary shall be liable to account only for the Rents actually received by Beneficiary;
d. If an Event of Default shall exist, Beneficiary may require that Trustor cause all of its Accounts to be paid to one or otherwisemore deposit accounts with Beneficiary, or at Beneficiary's option, with another financial institution approved by Beneficiary. Agent Trustor assigns and grants to Beneficiary a security interest in, pledge of and right of setoff against all moneys from time to time held in such deposit accounts, to the extent permitted by applicable law. Trustor agrees to promptly notify all of its account debtors, including the Medicaid and Medicare agencies and other account debtors pursuant to all Reimbursement Contracts, to the extent permitted under applicable law and to the extent Trustor maintains such Accounts, to make payments to one or more such deposit accounts upon Beneficiary's request and as designated by Beneficiary, and Trustor agrees to provide any necessary endorsements to checks, drafts and other forms of payment so that such payments will be properly deposited in such accounts. Beneficiary may require that the deposit accounts be established so as to comply with any applicable Medicaid, Medicare and other requirements applicable to payments of any accounts receivable. Beneficiary may cause moneys to be withdrawn from such deposit accounts and applied to the Indebtedness in such order as Beneficiary may elect, whether or not then due. Trustor appoints Beneficiary as Trustor's attorney-in-fact, which appointment is coupled with an interest and is irrevocable, to provide any notice, endorse any check, draft or other payment for deposit, or take any other action which Trustor agrees to undertake in accordance with this Section. Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable or to account enforce any Accounts or for any action or omission on the part of Beneficiary, its officers, agents and employees in collecting or enforcing such rents, issues, profits or revenues unless actually received Accounts; The provisions of this subsection (iv) are subject to the rights of any holder of a lien on Accounts that is expressly permitted by Agent.Section 6.2 of the Loan Agreement;
(d) e. Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Indebtedness shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Mortgaged Property to GrantorTrustor, its successors or and/or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Arv Assisted Living Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, ; Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Mortgage (Carter Validus Mission Critical REIT, Inc.)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the PropertyPremises and if, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers papers, and accounts of Grantor.;
(b) If Grantor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentBeneficiary, and Grantor hereby specifically consents to the entry of such judgment or decree. Grantor will pay to AgentBeneficiary, upon demand, all reasonable expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this Instrument.Trust;
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage manage, and control the Property Premises and conduct the business thereof thereof, all in a reasonable manner and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments betterments, and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty personalty, and other property; (ii) insure or contract to keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits profits, and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting (1aa) all reasonable expenses of taking, holding, managing managing, and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2bb) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3cc) the cost of such insurance; (4dd) such taxes, assessments assessments, and other similar charges as Agent Beneficiary may at its option pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses expenses, and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the SWI TENNESSEE DEED OF TRUST 12 13 remainder of the monies and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of other sums required to be paid hereunder; and third, to the payment of overdue installments of principal. Anything in accordance with Section 12.5 of this paragraph 2.03 to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Instrument or otherwise. Agent Deed of Trust, and Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, issuesincomes, issues and profits or revenues unless actually received by Agent.Beneficiary;
(d) Whenever all that is such interest, deposits, and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions conditions, and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Property Premises to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement, and Fixture Filing (Packaged Ice Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the PropertyCollateral and, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Collateral without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of GrantorMortgagor to the extent permitted by applicable law.
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property Collateral or any part thereof after such demand by AgentLender, Agent Lender may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property Collateral to AgentLender. Grantor Mortgagor will pay to AgentLender, upon demand, all reasonable expenses of obtaining such judgment or decree, including reasonable compensation to AgentLender, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Loan Obligations and shall be secured by the lien of this InstrumentMortgage.
(c) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Property Collateral and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Collateral insured; (iii) lease, manage and operate the Property Collateral and exercise all of the rights and powers of Grantor Mortgagor to the same extent as Grantor Mortgagor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Lender, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the PropertyCollateral, including those past due as well as those accruing thereafter, and, after deducting (1A) all expenses of taking, holding, managing and operating the Property Collateral (including compensation for the services of all persons employed for such purposes); (2B) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3C) the cost of such insurance; (4D) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5E) other proper charges upon the Property Collateral or any part thereof; and (6F) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentLender, Agent Lender shall apply the remainder of the monies and proceeds so received by Agent Lender, first, to the payment of accrued interest; second, to the payment of any deposits for taxes and insurance required in accordance with this Mortgage and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Loan Obligations then due. Anything in this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Lender shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant except to the extent Lender has agreed to assume such duties under the terms of any applicable subordination, non-disturbance and attornment agreement or, absent gross negligence or to willful misconduct, incur any liability as a result of any exercise by Agent Lender of any its rights under this Instrument Mortgage, and, absent gross negligence or otherwisewillful misconduct, Lender shall be liable to account only for the rents, incomes, issues and profits actually received by Lender.
(d) If an Event of Default shall exist, Lender may require that Mortgagor cause all of its Accounts and Rents to be paid to one or more deposit accounts with Lender, or at Lender’s option, with another financial institution approved by Lender. Agent To the extent allowed by applicable law, Mortgagor assigns and grants to Lender a security interest in, pledge of and right of setoff against all moneys from time to time held in such deposit accounts. Mortgagor agrees to promptly notify all of its account debtors and tenants, including all third-party payors pursuant to any Reimbursement Contracts then in effect, to make payments to one or more such deposit accounts upon Lender’s request and as designated by Lender, and Mortgagor agrees to provide any necessary endorsements to checks, drafts and other forms of payment so that such payments will be properly deposited in such accounts. Lender may require that the deposit accounts be established so as to comply with any applicable Reimbursement Contracts and other legal requirements, if any, applicable to payments of any accounts receivable. Lender may cause moneys to be withdrawn from such deposit accounts and applied to the Loan Obligations in such order as Lender may elect, whether or not then due subject to applicable law and the applicable Reimbursement Contract. Mortgagor appoints Lender as its attorney-in-fact, with full power of substitution, which appointment is coupled with an interest and is irrevocable, to provide any notice, endorse any check, draft or other payment for deposit, or take any other action which Mortgagor agrees to take in this Section. Lender shall not be liable for any failure to collect rentsany Accounts or Rents, issuesor to enforce the contracts or leases pursuant to which such Accounts or Rents are payable, profits and revenues from the Property, nor shall Agent be liable to account or for any such rents, issues, profits action or revenues unless actually received by Agent.
(d) Whenever all that is due upon omission on the Secured Obligations and under any part of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to GrantorLender, its successors officers, agents and employees in collecting or assigns. The same right of taking possessionenforcing such Accounts, howeverRents, shall exist if any subsequent Event of Default shall occur and be continuingcontracts or leases.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuingoccurred, Grantor, upon demand of AgentBond Trustee, shall forthwith surrender to Agent Bond Trustee the actual possession of the PropertyPremises and, and if and to the extent permitted by law, Agent Bond Trustee itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentBond Trustee, Agent Bond Trustee may obtain a judgment or decree conferring upon Agent Bond Trustee the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentBond Trustee. Grantor will pay to AgentBond Trustee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBond Trustee, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this InstrumentTrust.
(c) Upon every such entering upon or taking of possession, Agent Bond Trustee may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Bond Trustee, all as Agent Bond Trustee from time to time may determine to be in its best interest. Agent Bond Trustee may collect and receive all the rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting (1A) all expenses of taking, holding, managing and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2B) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3C) the cost of such insurance; (4D) such rent, taxes, assessments and other similar charges as Agent Bond Trustee may at its option pay; (5E) other proper charges upon the Property Premises or any part thereofthereof or under the Lease; and (6F) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentBond Trustee, Agent Bond Trustee shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 Bond Trustee, to pay all of the Credit AgreementSecured Indebtedness and the Grantor’s obligations under the Loan Agreement and this Deed of Trust. Agent Anything in this Section 2.03 to the contrary notwithstanding, Bond Trustee shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Bond Trustee of any its rights under this Instrument or otherwise. Agent Deed of Trust, and Bond Trustee shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, issuesincomes, issues and profits or revenues unless actually received by AgentBond Trustee.
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Bond Trustee shall surrender possession of the Property Premises to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Agent, shall forthwith surrender to Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Agent. Grantor Obligor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent Agent, in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.12.4
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Koger Equity Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantorthe Mortgagor, upon demand of Agentthe Mortgagee, shall forthwith surrender to Agent the Mortgagee the actual possession of the Mortgaged Property, and if and to the extent permitted by law, Agent itselflaw the Mortgagee, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application thereforMortgaged Property, and may exclude Grantor the Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor the Mortgagor to the books, papers and accounts of Grantorthe Mortgagor.
(b) If Grantor shall the Mortgagor shall, for any reason reason, fail to surrender or deliver the any such Mortgaged Property or any part thereof after such demand by Agentthe Mortgagee, Agent the Mortgagee may obtain a judgment judgement or decree conferring upon Agent on the Mortgagee the right to immediate possession or requiring Grantor the Mortgagor to deliver immediate possession of the all or part of such Mortgaged Property to Agent. Grantor the Mortgagee, the entry of which judgment or decree the Mortgagor hereby specifically consents.
(c) The Mortgagor will pay to Agentthe Mortgagee, upon demand, all reasonable expenses of obtaining such judgment or decree, including decree and reasonable compensation to Agentthe Mortgagee, its their attorneys and agents; and all such expenses and compensation shall, shall until paid, be secured by the lien of this InstrumentMortgage.
(cd) Upon every such entering upon or taking of possession, Agent the Mortgagee may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, :
(i) make all necessary reasonably necessary, as determined by the Mortgagee in its sole and proper absolute discretion, maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon thereon, and purchase or otherwise acquire additional fixtures, personalty and other property; ;
(ii) insure or keep the Mortgaged Property insured; insured and exercise all the rights and powers of the Mortgagor in its name or otherwise, with respect to the same;
(iii) lease, manage and operate the Mortgaged Property and exercise all the rights and powers of Grantor to the same extent as Grantor could Mortgagor in its own name or otherwise otherwise, with respect to the same; and and
(iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentthe Mortgagee, all as Agent the Mortgagee from time to time may determine to be in its best interest. Agent advantage; and the Mortgagee may collect and receive all the income, revenues, rents, issues, issues and profits and revenues from of the Propertysame, including those past due as well as those accruing thereafter, and, and after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.deducting:
Appears in 1 contract
Samples: Renewal Mortgage Note (Marriott Hotel Properties LTD Partnership)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Agent, shall forthwith surrender to Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Agent. Grantor Obligor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent Agent, in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Instrument, shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default curedmade good, Agent shall surrender possession of the Property to GrantorObligor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of AgentMortgagee, shall forthwith surrender to Agent Mortgagee the actual possession of the PropertyPremises and if, and if and to the extent extent, permitted by law, Agent Mortgagee itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, or an application therefor, and may exclude Grantor Mortgagor and its agents and employees wholly therefrom, and may have joint access with Grantor Mortgagor to the books, papers and accounts of GrantorMortgagor relating to the Premises.
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after any such lawful demand by AgentMortgagee, Agent Mortgagee may obtain a judgment or decree conferring upon Agent Mortgagee the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property Premises to AgentMortgagee, and Mortgagor hereby specifically covenants and agrees that Mortgagor will not oppose, contest or otherwise hinder or delay Mortgagee in any action or proceeding by Mortgagee to obtain such judgment or decree. Grantor Mortgagor will pay to AgentMortgagee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its Mortgagee’s attorneys and agentsagents as shall have been incurred; and all such expenses and compensation shall, until paid, become part of the Secured Obligations and shall be secured by the lien of this InstrumentMortgage.
(c) Upon every such entering upon or taking of possession, Agent Mortgagee may hold, store, use, operate, manage and control and maintain the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all the rights and powers power of Grantor Mortgagor to the same extent as Grantor Mortgagor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted AgentMortgagee, all as Agent Mortgagee from time to time may determine to be in its best interest. Agent Mortgagee may collect and receive all the income, rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, andand Mortgagee may apply any money and proceeds received by Mortgagee, after deducting in whatever order or priority Mortgagee in its sole discretion may determine, to the payment of (1i) all expenses of taking, holding, managing and operating the Property Premises (including reasonable compensation for the services of all persons employed for such purposes); (2ii) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3iii) the cost of such insurance; (4iv) such taxes, assessments and other similar charges as Agent Mortgagee may at its option pay; (5v) other proper charges upon the Property Premises or any part thereof; and (6vi) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentMortgagee; (vii) accrued interest; (viii) deposits required in Section 1.13 and other sums required to be paid under this Mortgage; and (ix) overdue installments of principal. Anything in this Section 2.3 to the contrary notwithstanding, Agent Mortgagee shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a the result of any exercise by Agent Mortgagee of any its rights under this Instrument Mortgage, nor shall Mortgagee be responsible or otherwise. Agent shall not be liable for any failure waste committed on the Premises by any tenant or other person or for any dangerous or defective condition of the Premises, or for any negligence in the management, upkeep, repair or control of the Premises resulting in any loss, injury or death to collect any tenant, licensee, employee, or stranger, and Mortgagee shall be liable to account only for the rents, incomes, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by AgentMortgagee.
(d) Whenever For the purpose of carrying out the provisions of this Section 2.3, the Mortgagor hereby constitutes and appoints the Mortgagee the true and lawful attorney-in-fact of the Mortgagor to do and perform, from time to time, any and all actions necessary and incidental to such purpose and does, by these presents, ratify and confirm any and all actions of said attorney-in-fact.
(e) In the event that is all such interest, deposits and principal payments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Mortgage shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, be paid and all Events of Default Defaults shall be cured, Agent shall surrender and as a result thereof Mortgagee surrenders possession of the Property Premises to GrantorMortgagor, its successors or assigns. The the same right of taking possession, however, possession shall continue to exist if any subsequent Event of Default shall occur and be continuingoccur.
Appears in 1 contract
Samples: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (AMP Holding Inc.)
Right to Enter and Take Possession. (ai) If an Event of Default shall have occurred and be is continuing, GrantorBorrower, upon demand of AgentLender, shall forthwith surrender to Agent Lender the actual possession of the PropertyMortgaged Property and, and if and to the extent permitted by law, Agent Lender itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Mortgaged Property (or such portion or portions as Agent may select) without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Borrower and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Borrower relating thereto;
(bii) If Grantor Borrower shall for any reason fail to surrender or deliver the Mortgaged Property or any part thereof after such demand by AgentLender, Agent Lender may obtain a judgment or decree conferring upon Agent Lender the right to immediate possession or requiring Grantor Borrower to deliver immediate possession of the Mortgaged Property to AgentLender. Grantor Borrower will pay to AgentLender, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agentcosts and expense actually incurred by Lender, its attorneys and agents; , and all such expenses and compensation costs shall, until paid, become part of the Indebtedness and shall be secured by the lien of this Security Instrument.;
(ciii) Upon every such entering upon or taking of possession, Agent Lender may hold, store, use, operate, manage and control the Mortgaged Property and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixturesFixtures, personalty Personalty and other propertyEquipment; (iiB) insure or keep the Mortgaged Property insured; (iiiC) lease, manage and operate the Mortgaged Property and exercise all of the rights and powers of Grantor Borrower to the same extent as Grantor Borrower could in its own name or otherwise with respect to the samename; and and/or (ivD) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Lender, all as Agent Lender from time to time may determine to be in its best interest. Agent Lender may collect and receive all the rents, issues, profits and revenues from the PropertyRents, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Mortgaged Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insuranceinsurance deemed necessary by Lender; (4) such taxes, assessments and other similar charges as Agent Lender may at its option pay; (5) other proper charges upon the Mortgaged Property or any part thereof; and (6) the actual reasonable compensationfees, expenses and disbursements of the attorneys and agents of AgentLender, Agent Lender shall apply the remainder of the monies and proceeds so received by Agent Lender, first, to the payment of accrued interest; second, to the payment of Imposition Deposits and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Indebtedness then due. Anything in accordance with this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Lender shall have no obligation to discharge any duties of a landlord to any tenant or to not incur any liability as a result of any exercise by Agent Lender of any its rights under this Instrument or otherwise. Agent Security Instrument, and Lender shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such rents, issues, profits or revenues unless the Rents actually received by Agent.Lender;
(div) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Indebtedness shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Lender shall surrender possession of the Mortgaged Property to GrantorBorrower, its successors or and/or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed to Secure Debt and Security Agreement (CNL Healthcare Trust, Inc.)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all reasonable out-of-pocket expenses of obtaining actually incurred to obtain such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, to the extent Agent may deem reasonable necessary: (i) make all reasonably necessary and proper maintenance, repairs, renewals, renewals and replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insuredinsured in accordance with the terms of the Credit Agreement; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same, subject to the terms of any and all Leases, and any non-disturbance agreement entered in connection with any and all Leases; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all reasonable out-of-pocket expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, renewals and replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; and (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 9.4 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Right to Enter and Take Possession. (a1) If an Event of a Default shall have occurred and be continuingoccurred, Grantor, upon demand of AgentGrantee, shall forthwith surrender to Agent Grantee the actual possession of the PropertyPremises and if, and if and to the extent extent, permitted by law, Agent Grantee itself, or by such officers or agents as it may appoint, may enter and take possession of all of the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b2) If Grantor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentGrantee, Agent Grantee may obtain a judgment or decree conferring upon Agent Grantee the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentGrantee, and Grantor hereby specifically covenants and agrees that Grantor will not oppose, contest or otherwise hinder or delay Grantee in any action or proceeding by Grantee to obtain such judgment or decree. Grantor will pay to AgentGrantee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentGrantee, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Indebtedness and shall be secured by the lien of this InstrumentDeed to Secure Debt.
(c3) Upon every such entering upon or taking of possession, Agent Grantee may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (iA) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (iiB) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.;
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorMortgagor, upon demand of AgentMortgagee, shall forthwith surrender to Agent Mortgagee the actual possession of the PropertyCollateral and, and if and to the extent permitted by law, Agent Mortgagee itself, or by such officers or agents as it may appoint, may enter and take possession of all or any part of the Property (or such portion or portions as Agent may select) Collateral without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor Mortgagor, and its agents and employees wholly therefrom, and may have joint access with Grantor to take possession of the books, papers and accounts of Grantor.Mortgagor;
(b) If Grantor Mortgagor shall for any reason fail to surrender or deliver the Property Collateral or any part thereof after such demand by AgentMortgagee, Agent Mortgagee may obtain a judgment or decree conferring upon Agent Mortgagee the right to immediate possession or requiring Grantor Mortgagor to deliver immediate possession of the Property Collateral to AgentMortgagee. Grantor Mortgagor will pay to AgentMortgagee, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentMortgagee, its attorneys and agents; , and all such expenses and compensation shall, until paid, become part of the Loan Obligations and shall be secured by the lien of this Instrument.Mortgage;
(c) Upon every such entering upon or taking of possession, Agent Mortgagee may hold, store, use, operate, manage and control the Property Collateral and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Collateral insured; (iii) lease, manage and operate the Property Collateral and exercise all of the rights and powers of Grantor Mortgagor to the same extent as Grantor Mortgagor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements agree ments with respect to the exercise by others of any of the powers herein granted Agent, to Mortgagee all as Agent Mortgagee from time to time may determine to be in its best interest. Agent Mortgagee may collect and receive all the rents, issues, profits and revenues from the PropertyCollateral, including those past due as well as those accruing thereafter, and, after deducting (1A) all reasonable expenses of taking, holding, managing and operating the Property Collateral (including reasonable compensation for the services of all persons employed for such purposes); (2B) the reasonable cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvementsimprove ments, purchases and acquisitions; (3C) the reasonable cost of such insurance; (4D) such taxes, assessments and other similar charges as Agent Mortgagee may at its option pay; (5E) other proper charges upon the Property Collateral or any part thereof; and (6F) the reasonable compensationcompen sation, expenses and disbursements of the attorneys and agents of AgentMortgagee, Agent Mortgagee shall apply the remainder of the monies and proceeds so received by Agent Mortgagee, first, to the payment of accrued interest; second, to the payment of deposits for taxes and insurance required in accordance with this Mortgage and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal and any other unpaid Loan Obligations then due. Anything in this Section 12.5 of to the Credit Agreement. Agent contrary notwithstanding, Mortgagee shall have no obligation not be obli gated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Mortgagee of any its rights under this Instrument Mortgage unless Mortgagee is in possession and is operating the Collateral, and Mortgagee shall be liable to account only for the rents, incomes, issues and profits actually received by Mortgagee and for Mortgagee's gross or otherwisewilful misconduct in exercising its rights hereunder.
(d) If an Event of Default shall exist, Mortgagee may require that Mortgagor cause all of its Accounts and Rents to be paid to Mortgagee directly or to one or more deposit accounts with Mortgagee. Agent Mortgagor assigns and grants to Mortgagee a security interest in, pledge of and right of setoff against all moneys from time to time held in such deposit accounts. Mortgagor agrees to promptly notify all of its account debtors and tenants to make payments to Mortgagee or one or more such deposit accounts upon Mortgagee's request and as designated by Mortgagee, and Mortgagor agrees to provide any necessary endorsements to checks, drafts and other forms of payment so that such payments will be properly deposited in such accounts. Mortgagee may require that the deposit accounts be established so as to comply with any applicable legal requirements, if any, applicable to payments of any accounts receivable. Mortgagee may cause moneys to be withdrawn from such deposit accounts and applied to the Loan Obligations in such order as Mortgagee may elect, whether or not then due. Mortgagor appoints Mortgagee as its attorney-in-fact, which appointment is coupled with an interest and is irrevocable, to provide any notice, endorse any check, draft or other payment for deposit, or take any other action which Mortgagor agrees to take in this Section 3.03 (d). Mortgagee shall not be liable for any failure to collect rentsany Accounts or Rents, issuesor to enforce the contracts or leases pursuant to which such Accounts or Rents are payable, profits and revenues from the Propertyor, nor shall Agent be liable to account absent gross negligence or wilful misconduct, for any such rents, issues, profits action or revenues unless actually received by Agent.
(d) Whenever all that is due upon omission on the Secured Obligations and under any part of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to GrantorMortgagee, its successors officers, agents and employees in collecting or assigns. The same right of taking possessionenforcing such Accounts, howeverRents, shall exist if any subsequent Event of Default shall occur and be continuingcontracts or leases.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Emeritus Corp\wa\)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, GrantorBorrower, upon demand of AgentLenders, shall forthwith surrender to Agent Lenders the actual possession of the PropertyPremises and if, and if and to the extent permitted by law, Agent Lenders itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefortherefore, and may exclude Grantor Borrower and its their agents and employees wholly therefrom, and may have joint access with Grantor Borrower to the books, papers and accounts of GrantorBorrower.
(b) If Grantor Borrower shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentLenders, Agent Lenders may obtain a judgment or decree conferring upon Agent Lenders the right to of immediate possession or requiring Grantor Borrower to deliver immediate possession of the Property Premises to AgentLenders, and Borrower hereby specifically consents to the entry of such judgment or decree. Grantor Borrower will pay to AgentLenders, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, become part of the Secured Indebtedness and shall be secured by the lien this Deed of this Instrument.Trust;
(c) Upon every such entering upon or taking of possession, Agent Lenders may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor Borrower to the same extent as Grantor Borrower could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with the respect to the exercise by others Lenders of any of the powers herein granted Agentto Lenders, all as Agent Lenders from time to time may determine to be in its best interest. Agent , Lenders may collect and receive all the rents, issues, profits and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting (1aa) all expenses of taking, holding, managing and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2bb) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3cc) the cost of such insurance; (4dd) such taxes, assessments and other similar charges as Agent Lenders may at its option pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentLenders, Agent Lenders shall apply the remainder of the monies moneys and proceeds so received by Agent Lenders; first,, to the payment of accrued interest; second, to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal. Anything in accordance with Section 12.5 of this paragraph 2.03 to the Credit Agreement. Agent contrary notwithstanding Lenders shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Lenders of any their rights under this Instrument or otherwise. Agent Deed of Trust, and Lenders shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account accounting only for any such the rents, issuesincomes, issues and profits or revenues unless actually received by Agent.Lenders;
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust, shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Lenders shall surrender possession of the Property Premises to GrantorBorrower, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Indenture (McRae Industries Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the PropertyPremises and, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.;
(b) If Grantor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentBeneficiary. Grantor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; , and all such expenses part of the Secured Indebtedness and compensation shall, until paid, shall be secured by the lien this Deed of this Instrument.Trust;
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Property Premises and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements agreement with respect to the exercise by others of any of the powers power herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1aa) all expenses of taking, holding, managing and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2bb) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3cc) the cost of such insurance; (4dd) such taxes, assessments and other similar charges as Agent Beneficiary may at its option pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses and disbursements disbursement of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies money and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of deposits as required herein and to other sums required to be paid hereunder; and third, to the payment of overdue installments of principal. Anything in accordance with Section 12.5 of this section to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Instrument or otherwise. Agent Deed of Trust, and Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, issuesincomes, issues and profits or revenues unless actually received by Agent.Beneficiary:
(d) Whenever all that is such interest, deposits and principal installments and other sums due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Deed of Trust shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default shall have been cured, Agent Beneficiary shall surrender possession of the Property Premises to Grantor, its successors or assigns. The same right of taking possession, however, however shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust (Bf Enterprises Inc)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of AgentBeneficiary, shall forthwith surrender to Agent Beneficiary the actual possession of the Property, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent Beneficiary may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to AgentBeneficiary. Grantor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to AgentBeneficiary, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted AgentBeneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent Beneficiary may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies and proceeds so received by Agent Beneficiary in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.with
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other propertyproperty necessary to maintain the good condition of the Property or to perform obligations with respect to the Property or to comply with any of the Leases; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Republic Property Trust)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, Obligor upon demand of Collateral Agent, shall forthwith surrender to Collateral Agent the actual possession of the PropertyProperty and if, and if and to the extent extent, permitted by law, Collateral Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor Obligor and its agents and employees wholly therefrom, and may have joint access with Grantor Obligor to the books, papers and accounts of GrantorObligor.
(b) If Grantor Obligor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Collateral Agent, Collateral Agent may obtain a judgment or decree conferring upon Collateral Agent the right to immediate possession or requiring Grantor Obligor to deliver immediate possession of the Property to Collateral Agent. Grantor Obligor will pay to Collateral Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Collateral Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Collateral Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof thereof, and, from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor Obligor to the same extent as Grantor Obligor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Collateral Agent, all as Collateral Agent from time to time may determine to be in its best interest. Collateral Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Collateral Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Collateral Agent, Collateral Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 Collateral Agent, first, ratably as to each Bank, to the payment of accrued interest; and second, ratably as to each Bank, to the Credit Agreementpayment of overdue installments of principal. Collateral Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Collateral Agent of any rights under this Instrument or otherwise. Collateral Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Collateral Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Collateral Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument Instrument, shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, paid and all Events of Default curedmade good, Collateral Agent shall surrender possession of the Property to GrantorObligor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.. 102 107
Appears in 1 contract
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuingbut the Premises have as yet not been foreclosed, Grantor, upon demand of AgentBeneficiary, forthwith shall forthwith surrender to Agent Beneficiary the actual possession of the Propertypremises and, and if and to the extent permitted by law, Agent Beneficiary itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) Premises without the appointment of a receiver, receiver or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers papers, and accounts of Grantor.;
(b) If Grantor shall for any reason fail to surrender or deliver the Property Premises or any part thereof after such demand by AgentBeneficiary, Agent Beneficiary may obtain a judgment or decree conferring upon Agent Beneficiary the right to immediate possession or requiring Grantor to deliver immediate possession of the Property Premises to AgentBeneficiary, and Grantor hereby specifically consents to the entry of such judgment or decree. Grantor will pay to AgentBeneficiary, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, Beneficiary and its attorneys and agents; , and all such expenses and compensation shallcompensation, until paid, shall become part of the Secured Indebtedness and shall be secured by the lien this Deed of this Instrument.Trust;
(c) Upon every such entering upon or taking of possession, Agent Beneficiary may hold, store, use, operate, manage manage, and control the Property Premises and conduct the business thereof and, and from time to time, time (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments betterments, and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty personalty, and other property; (ii) insure or keep the Property Premises insured; (iii) lease, manage and operate the Property Premises and exercise all of the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise act with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agentto Beneficiary, all as Agent Beneficiary from time to time may determine to be in its best interest. Agent Beneficiary may collect and receive all the rents, issues, profits profits, and revenues from the PropertyPremises, including those past due as well as those accruing thereafter, and, after deducting (1aa) all reasonable expenses of taking, holding, managing managing, and operating the Property Premises (including compensation for the services of all persons employed for such purposes); (2bb) the reasonable cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases purchases, and acquisitions; (3cc) the reasonable cost of such insurance; (4dd) such taxes, assessments assessments, and other similar charges as Agent may Beneficiary at its option may pay; (5ee) other proper charges upon the Property Premises or any part thereof; and (6ff) the reasonable compensation, expenses expenses, and disbursements of the attorneys and agents of AgentBeneficiary, Agent Beneficiary shall apply the remainder of the monies moneys and proceeds so received by Agent Beneficiary, first, to the payment of accrued interest; second, to the payment of deposits required in accordance with Section 12.5 paragraph 1.4 and to other sums required to be paid hereunder; and third, to the payment of installments of principal. Anything in this paragraph 2.4 to the Credit Agreement. Agent contrary notwithstanding, Beneficiary shall have no obligation not be obligated to discharge any or perform the duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent Beneficiary of any its rights under this Instrument Deed of Trust, other than for acts of gross negligence or otherwise. Agent wilful wrongdoing, and Beneficiary shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account only for any such the rents, incomes, issues, and profits or revenues unless actually received by AgentBeneficiary.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (PMT Services Inc /Tn/)
Right to Enter and Take Possession. (a) If an Event of Default shall have occurred and be continuing, Grantor, upon demand of Agent, shall forthwith surrender to Agent the actual possession of the Property, and if and to the extent permitted by law, Agent itself, or by such officers or agents as it may appoint, may enter and take possession of all the Property (or such portion or portions as Agent may select) without the appointment of a receiver, or an application therefor, and may exclude Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to the books, papers and accounts of Grantor.
(b) If Grantor shall for any reason fail to surrender or deliver the Property or any part thereof after such demand by Agent, Agent may obtain a judgment or decree conferring upon Agent the right to immediate possession or requiring Grantor to deliver immediate possession of the Property to Agent. Grantor will pay to Agent, upon demand, all expenses of obtaining such judgment or decree, including reasonable compensation to Agent, its attorneys and agents; and all such expenses and compensation shall, until paid, be secured by the lien of this Instrument.
(c) Upon every such entering upon or taking of possession, Agent may hold, store, use, operate, manage and control the Property and conduct the business thereof and, from time to time, (i) make all necessary and proper maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or otherwise acquire additional fixtures, personalty and other property; (ii) insure or keep the Property insured; (iii) lease, manage and operate the Property and exercise all the rights and powers of Grantor to the same extent as Grantor could in its own name or otherwise with respect to the same; and (iv) enter into any and all agreements with respect to the exercise by others of any of the powers herein granted Agent, all as Agent from time to time may determine to be in its best interest. Agent may collect and receive all the rents, issues, profits and revenues from the Property, including those past due as well as those accruing thereafter, and, after deducting (1) all expenses of taking, holding, managing and operating the Property (including compensation for the services of all persons employed for such purposes); (2) the cost of all such maintenance, repairs, renewals, replacements, additions, betterments, improvements, purchases and acquisitions; (3) the cost of such insurance; (4) such taxes, assessments and other similar charges as Agent may at its option pay; (5) other proper charges upon the Property or any part thereof; and (6) the reasonable compensation, expenses and disbursements of the attorneys and agents of Agent, Agent shall apply the remainder of the monies and proceeds so received by Agent in accordance with Section 12.5 of the Credit Agreement. Agent shall have no obligation to discharge any duties of a landlord to any tenant or to incur any liability as a result of any exercise by Agent of any rights under this Instrument or otherwise. Agent shall not be liable for any failure to collect rents, issues, profits and revenues from the Property, nor shall Agent be liable to account for any such rents, issues, profits or revenues unless actually received by Agent.
(d) Whenever all that is due upon the Secured Obligations and under any of the terms, covenants, conditions and agreements of this Instrument shall have been paid, the Lenders have no obligation to make further Loans and the Issuing Lender has no further obligation to issue Letters of Credit, and all Events of Default cured, Agent shall surrender possession of the Property to Grantor, its successors or assigns. The same right of taking possession, however, shall exist if any subsequent Event of Default shall occur and be continuing.12.5
Appears in 1 contract