Rights to Fixture Collateral Upon Default. Upon the occurrence of an Event of Default, or at any time thereafter, Mortgagee may elect to treat the Fixture Collateral as either Realty Collateral or as Personalty Collateral (but not both) and proceed to exercise such rights as apply to the type of Collateral selected.
Appears in 5 contracts
Samples: Credit Agreement (Isramco Inc), Credit Agreement (Cano Petroleum, Inc), Subordinated Credit Agreement (Cano Petroleum, Inc)
Rights to Fixture Collateral Upon Default. Upon the occurrence and during the continuance of an any Event of Default, or at any time thereafter, Mortgagee may elect to treat the Fixture Collateral as either Realty Collateral or as Personalty Collateral (but not both) and proceed to exercise such rights as apply to the type of Collateral Mortgaged Property selected.
Appears in 3 contracts
Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)
Rights to Fixture Collateral Upon Default. Upon the occurrence and during the continuation of an Event of Default, or at any time thereafter, Mortgagee may elect to treat the Fixture Collateral as either Realty Collateral or as Personalty Collateral (but not both) and proceed to exercise such rights as apply to the type of Collateral selected.
Appears in 1 contract
Samples: Second Lien Security Agreement
Rights to Fixture Collateral Upon Default. Upon the occurrence and during the continuance of an Event of Default, or at any time thereafter, the Mortgagee may elect to treat the Fixture Collateral as either Realty Collateral or as Personalty Collateral (but not both) and proceed to exercise such rights as apply to the type of Collateral selected.
Appears in 1 contract
Samples: Credit Agreement (Isramco Inc)
