Common use of Right to Possession, etc Clause in Contracts

Right to Possession, etc. (a) To the fullest extent Mortgagor may lawfully agree, the right of Mortgagee to take possession of and sell any of the Collateral in compliance with the provisions of this Section 4 shall not be affected by the provisions of any applicable reorganization or other similar law or any jurisdiction; and Mortgagor shall not take advantage of any such law or agree to allow any agent, assignee or other party to take advantage of such law in its place, to which end Mortgagor, for itself and all who may claim through it, as far as it or they now or hereafter lawfully may do so, hereby waives, to the fullest extent permitted under applicable Law, any rights or defenses arising under any such law, and all rights to have the Collateral marshaled upon any foreclosure hereof, and hereby agrees that any court having jurisdiction to foreclose upon and against the security interest created in this Agreement may order the sale of the Collateral subject to such jurisdiction as an entirety or severally.

Appears in 2 contracts

Samples: Aircraft Mortgage and Security Agreement (Trans World Airlines Inc /New/), Aircraft Second Mortgage and Security Agreement (Trans World Airlines Inc /New/)

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Right to Possession, etc. (a) To the fullest extent Mortgagor each Grantor may lawfully agree, the right of Mortgagee the Security Trustee to take possession of and sell any of the Trust Collateral in compliance with the provisions of this Section 4 Article V shall not be affected by the provisions of any applicable reorganization or other similar law or of any jurisdiction; and Mortgagor WEST and each Grantor shall not take advantage of any such law or agree to allow any agent, assignee or other party to take advantage of such law in its place, to which end MortgagorWEST and each Grantor, for itself and all who may claim through it, as far as it or they now or hereafter lawfully may do so, hereby waives, to the fullest extent permitted under applicable Applicable Law, any rights or defenses arising under any such law, and all rights to have the Collateral marshaled marshalled upon any foreclosure hereof, and hereby agrees that any court having jurisdiction to foreclose upon and against the security interest created in this Agreement or by the Engine Mortgages or the Lease Security Assignments may order the sale of the Trust Collateral subject to such jurisdiction as an entirety or severally.

Appears in 1 contract

Samples: Security Trust Agreement (Willis Lease Finance Corp)

Right to Possession, etc. (a) To the fullest extent Mortgagor each Grantor may lawfully agree, the right of Mortgagee the Security Trustee to take possession of and sell any of the Collateral in compliance with the provisions of this Section 4 Article V shall not be affected by the provisions of any applicable reorganization or other similar law or of any jurisdiction; and Mortgagor the Issuer and each Grantor shall not take advantage of any such law or agree to allow any agent, assignee or other party to take advantage of such law in its place, to which end Mortgagorthe Issuer and each Grantor, for itself and all who may claim through it, as far as it or they now or hereafter lawfully may do so, hereby waives, to the fullest extent permitted under applicable Applicable Law, any rights or defenses arising under any such law, and all rights to have the Collateral marshaled marshalled upon any foreclosure hereof, and hereby agrees that any court having jurisdiction to foreclose upon and against the security interest created in this Agreement may order the sale of the Collateral subject to such jurisdiction as an entirety or severally.

Appears in 1 contract

Samples: Security Trust Agreement (Willis Lease Finance Corp)

Right to Possession, etc. (a) To the fullest extent the Mortgagor may lawfully agree, the right of the Mortgagee to take possession of and and/or sell any of the Collateral in compliance with the provisions of this Section 4 Article II shall not be affected by the provisions of any applicable reorganization or other similar law or of any jurisdiction; and the Mortgagor shall not take advantage of any such law or agree to allow any agent, assignee or other party to take advantage of such law in its place, to which end the Mortgagor, for itself and all who may claim through it, as far as it or they now or hereafter lawfully may do so, hereby waives, to the fullest extent permitted under applicable Applicable Law, any rights or defenses arising under any such law, and all rights to have the Collateral marshaled upon any foreclosure hereof, and hereby agrees that any court having jurisdiction to foreclose upon and against the security interest created in this Agreement may order the sale of the Collateral subject to such jurisdiction as an entirety or severally.

Appears in 1 contract

Samples: Subsidiary Security Agreement (Ps Group Holdings Inc)

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Right to Possession, etc. (a) To the fullest extent Mortgagor each Grantor may lawfully agree, the right of Mortgagee the Security Trustee to take possession of and sell any of the Collateral in compliance with the provisions of this Section 4 Article V shall not be affected by the provisions of any applicable reorganization or other similar law or of any jurisdiction; and Mortgagor the Issuer and each Grantor shall not take advantage of any such law or agree to allow any agent, assignee or other party to take advantage of such law in its place, to which end Mortgagorthe Issuer and each Grantor, for itself and all who may claim through it, as far as it or they now or hereafter lawfully may do so, hereby waives, to the fullest extent permitted under applicable Applicable Law, any rights or defenses arising under any such law, and all rights to have the Collateral marshaled marshalled upon any foreclosure hereof, and hereby agrees that any court having jurisdiction to foreclose upon and against the security interest created in this Agreement may order the sale of the Collateral subject to such jurisdiction as an entirety or severally.. Section 5.04

Appears in 1 contract

Samples: Mortgage and Security Agreement (Willis Lease Finance Corp)

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