Rights of Beneficiary Sample Clauses
Rights of Beneficiary. Grantor authorizes Beneficiary to perform any or all of the following acts at any time in its sole discretion, all without notice to Grantor and without affecting Beneficiary’s rights or Grantor’s obligations under this Deed of Trust:
(a) Beneficiary may alter any terms of the Third Party Secured Obligations or any part of them, including renewing, compromising, modifying, extending or accelerating, terminating early, or otherwise changing the time for payment of, or increasing or decreasing the rate of interest on, the Third Party Secured Obligations or any part of them.
(b) Beneficiary may enforce or forbear from enforcing the Third Party Secured Obligations on a net or gross basis.
(c) Beneficiary may take and hold security for the Third Party Secured Obligations, accept additional or substituted security for that obligation, and subordinate, exchange, enforce, waive, release, reconvey, compromise, fail to perfect and sell or otherwise dispose of any such security.
(d) Beneficiary may direct the order and manner of any sale of all or any part of any security now or later to be held for the Third Party Secured Obligations, and Beneficiary may also bid at any such sale and may apply all or any part of the Third Party Secured Obligations against the amount so bid.
(e) Beneficiary may apply any payments or recoveries from Borrower (or any of them), Grantor or any other source, and any proceeds of any security, to the Third Party Secured Obligations in such manner, order and priority as Beneficiary may elect, whether that obligation is secured by this Deed of Trust or not at the time of the application.
(f) Beneficiary may substitute, add or release any Borrower, guarantors or endorsers.
(g) In addition to the Third Party Secured Obligation, Beneficiary may extend other credit to any Borrower, and may take and hold security for the credit so extended, whether or not such security is also security for the Third Party Secured Obligations, all without affecting Beneficiary’s rights or Grantor’s liability under this Deed of Trust.
Rights of Beneficiary. Subject to the provisions of Section 3.03 below, Beneficiary shall have the right, power and authority (but not the obligation) to: (a) notify any person that the Leases have been assigned to Beneficiary and that all Rents are to be paid directly to Beneficiary, whether or not Beneficiary has commenced or completed foreclosure or taken possession of the Property; (b) settle, compromise, release, extend the time of payment of, and make allowances, adjustments and discounts of any Rents or other obligations under the Leases; (c) enforce payment of Rents and other rights under the Leases, prosecute any action or proceeding, and defend against any claim with respect to Rents and Leases; (d) without regard to the adequacy of Beneficiary's security, enter upon but not take possession of the Property, or take possession of and operate the Property; (e) lease all or any part of the Property; and/or (f) perform any and all obligations of Trustor under the Leases and exercise any and all rights of Trustor therein contained to the full extent of Trustor's rights and obligations thereunder, with or without the bringing of any action or the appointment of a receiver, and any other rights and remedies under any applicable Nevada laws; provided, however, that the acceptance by Beneficiary of this Deed of Trust, with all of the rights, power, privileges, and authority created, will not, prior to entry on and taking of possession of the Property by Beneficiary, be deemed or construed to make Beneficiary a mortgagee-in-possession, nor in any event obligate Beneficiary to appear in or defend any action or proceeding relating to the Leases. Trustor shall deliver a copy of this Deed of Trust to each Tenant under a Lease and to each manager and managing agent or operator of the Property. Trustor irrevocably directs any Tenant, manager, managing agent, or operator of the Property, without any requirement for notice to or consent by Trustor, to comply with all demands of Beneficiary under this Deed of Trust and to turn over to Beneficiary on demand all Rents which it receives.
Rights of Beneficiary. In addition to Beneficiary’s rights as a “Secured Party” under the UCC, Beneficiary may, but shall not be obligated to, at any time without notice and at the expense of Trustor: (a) give notice to any person of Beneficiary’s rights hereunder and enforce such rights at law or in equity; (b) insure, protect, defend and preserve the Collateral or any rights or interests of Beneficiary therein; and (c) inspect the Collateral (and during the term of any Lease, subject to any specific restrictions or prohibitions under such Lease). Notwithstanding the above, in no event shall Beneficiary be deemed to have accepted any property other than cash in satisfaction of any obligation of Trustor to Beneficiary unless Beneficiary shall make an express written election of said remedy under the UCC or other applicable law.
Rights of Beneficiary. In acting hereunder, Beneficiary is entitled to all rights, privileges, benefits, protections, immunities and indemnities accorded to it under the Indenture.
Rights of Beneficiary. Consent of the Beneficiary shall not be requisite to surrender or assignment of this Policy, or to change of Beneficiary, or to any other changes in this Policy.
Rights of Beneficiary. The Beneficiary has no rights in this Policy until the death of the Insured. If a Beneficiary is alive at that time, the Beneficiary will be entitled to payment of the Policy Proceeds as they become due.
Rights of Beneficiary. Upon Beneficiary’s reasonable belief of the existence of a past or present Release or threatened Release not previously disclosed by Trustor in connection with the making of the Loan or the execution of this Deed of Trust or upon Beneficiary’s reasonable belief that Trustor has failed to comply with any environmental provision of this Deed of Trust or any other Loan Document and upon reasonable prior notice (except in the case of an emergency) to Trustor, Beneficiary or its representatives, employees, and agents, may from time to time and at all reasonable times (or at any time in the case of an emergency) enter and inspect the Property and every part of it (including all samples of building materials, soil, and groundwater and all books, records, and files of Trustor relating to the Property) and perform those acts and things that Beneficiary deems necessary or desirable to inspect, investigate, assess, and protect the Security of this Deed of Trust, for the purpose of determining:
(a) the existence, location, nature, and magnitude of any past or present Release or threatened Release,
(b) the presence of any Hazardous Substances on or about the Property in violation of any Hazardous Substance Law, and
(c) the compliance by Trustor of every environmental provision of this Deed of Trust and every other Loan Document. In furtherance of the purposes above, without limitation of any of its other rights, Beneficiary may:
(1) obtain a court order to enforce Beneficiary’s right to enter and inspect the Property under Civil Code § 2929.5; and
(2) have a receiver appointed under Code of Civil Procedure § 564 to enforce Beneficiary’s right to enter and inspect the Property for the purpose set forth above. All costs and expenses incurred by Beneficiary with respect to the audits, tests, inspections, and examinations that Beneficiary or its agents, representatives, or employees may conduct, including the fees of the engineers, laboratories, contractors, consultants, and attorneys, will be paid by Trustor. All costs or expenses incurred by Trustee and Beneficiary pursuant to this Section (including without limitation court costs, consultant’s fees, and attorney fees, whether incurred in litigation and whether before or after judgment) will bear interest at the Agreed Rate from the date they are incurred until those sums have been paid in full. Except as provided by law, any inspections or tests made by Beneficiary or its representatives, employees, and agents will be f...
Rights of Beneficiary. Guarantor hereby agrees that Beneficiary may, at its option, without notice to or further consent of Guarantor, take any of the following actions:
a. sell, assign or transfer any of the Obligations of Debtor to Beneficiary in which case;
(1) each subsequent holder shall have the same rights, powers and benefits hereunder as the Beneficiary;
(2) the Beneficiary shall have a prior and unimpaired right to enforce this Guaranty for the benefit of the Beneficiary as to so much of the Obligations as shall remain;
(3) the Beneficiary may assign or deliver any property held as security for the Obligations and the subsequent holder shall have the same rights, powers and benefits as to the security as the Beneficiary; and
(4) the Beneficiary shall be fully discharged from all responsibility with respect to any such property assigned or delivered;
b. renew, from time to time, for any period, all or any part of the Obligations;
c. extend or accelerate or otherwise change, from time to time, the time for payment of all or any part of the Obligations;
d. retain or obtain, in addition to this Guaranty, a security interest in any property of to secure all or any part of the Obligations;
e. retain the primary or secondary liability of any party in addition to Guarantor with respect to all or any part of the Obligations;
f. release their security interest, if any, in any property securing any of the Obligations, permit any substitution or exchange for any such property, or fail to perfect or continue to perfect any security interest for any such property;
g. release or compromise any liability of any other Guarantor or any other party with respect to the Obligations or any security therefor;
h. create Obligations in excess of the Guaranteed Amount; and
i. amend, modify, delete or add any term or condition of or to any of the Obligations. Except as otherwise specifically noted, the terms of this Section 7 shall apply to all Obligations.
Rights of Beneficiary. Subject to the provisions of Section 4.4 below giving Grantor a revocable, limited license, Beneficiary will have the right, power, and authority to:
4.2.1. Notify any and all tenants, renters, licensees, and other obligors under any of the Leases that the same have been assigned to Beneficiary and that all Rents are to be paid directly to Beneficiary, whether or not Beneficiary has foreclosed or commenced foreclosure proceedings against the Property, and whether or not Beneficiary has taken possession of the Property;
4.2.2. Discount, settle, compromise, release, or extend the time for payment of any amounts owing under any of the Leases and any Rents, in whole or in part, on terms acceptable to Beneficiary;
4.2.3. Collect and enforce payment of Rents and all provisions of the Leases, and to prosecute any action or proceeding, in the name of Grantor or Beneficiary, with respect to any and all Leases and Rents; and
4.2.4. Exercise any and all other rights and remedies of the lessor in connection with any of the Leases and Rents.
Rights of Beneficiary. Page 11 6. THE VARIABLE ACCOUNT...........................................................................Page 12 Sub-Accounts..................................................................................Page 12 Addition, Deletion or Substitution of Investments.............................................Page 12 Transfers Between Sub-Accounts................................................................Page 12 7. PREMIUMS.......................................................................................Page 13 Premium.......................................................................................Page 13 Net Premiums..................................................................................Page 13 Allocation of Net Premium.....................................................................Page 13