Common use of Rights Upon an Event of Default Clause in Contracts

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Agent, immediately and without additional notice and without liability therefor to the Grantor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this Mortgage; (e) enter into leases demising the Premises or any part thereof; (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, this Mortgage, the Credit Agreement or the other Loan Documents, or to aid the execution of any power herein granted; and (g) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of Default, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 and 2.6 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) foreclosure and the conveyance of the Premises to the high bidder, or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in full.

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Agent, immediately and without additional notice and without liability therefor to the Grantor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage Security Deed and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this MortgageSecurity Deed; (e) enter into leases demising the Premises or any part thereof; (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, this MortgageSecurity Deed, the Credit Agreement or the other Loan Documents, or to aid the execution of any power herein granted; and (g) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of Default, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 and 2.6 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) foreclosure and the conveyance of the Premises to the high bidder, or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in full.

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Agent, immediately and without additional notice and without liability therefor to the GrantorMortgagor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage and satisfaction and fulfillment of any liabilities or obligations of the Grantor Mortgagor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this Mortgage; (e) enter into leases demising the Premises or any part thereof; , (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, the Letters of Credit, this Mortgage, the Credit Agreement or the other Loan Credit Documents, or to aid the execution of any power herein granted; (g) collect rents; and (gh) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of DefaultDefault or acceleration of the Loans and in accordance with the Credit Agreement, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 2.2, 2.6 and 2.6 2.8 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor Mortgagor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, cured or waived with the consent of the Required Lenders' or the Lenders (iias required by the Credit Agreement) or until foreclosure and the conveyance of the Premises to or until the high bidder, Indebtedness secured hereby is satisfied or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in fullfull and the commitments are terminated.

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the AgentGrantee, immediately and without additional notice and without liability therefor to Grantor and to the Grantorextent permitted by law, except for its own gross negligence, negligence or willful misconduct or unlawful conductmisconduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreementfollowing: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (dc) expend Term Loan loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage Security Instrument and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the construction of Improvements on the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this MortgageSecurity Instrument; (ed) enter into leases demising the Premises or any part thereof; (fe) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, Note or this Mortgage, the Credit Agreement or the other Loan DocumentsSecurity Instrument, or to aid the execution of any power herein granted; and (gf) generally, supervise, manage, and contract with reference to the Premises as if the Agent Grantee were equitable owner of the Premises. Notwithstanding ; (g) seek the occurrence appointment of an Event a receiver as provided in Section 5.2 below; (h) exercise any or all of Defaultthe remedies available to a secured party under the Uniform Commercial Code, including, but not limited to, selling, leasing or otherwise disposing of any fixtures and personal property which is encumbered hereby at public sale, with or without having such fixtures or personal property at the Agent shall continue place of sale, and upon such terms and in such manner as Grantee may determine; (i) exercise any or all of the remedies of a secured party under the Uniform Commercial Code with respect to have the right to pay money, whether Intangible Personalty; and (j) enforce any or not Term Loan funds, all of the assignments or collateral assignments made in this Security Instrument as additional security for the purposes described in Sections 2.2 and 2.6 hereof, and all such sums and interest thereon shall be secured herebySecured Obligations. The Grantor also agrees that any of the foregoing rights and remedies of the Agent Grantee may be exercised at any time during upon the continuance occurrence of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent Grantee may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) cured or waived or until foreclosure and the conveyance of the Premises to or until the high bidder, Secured Obligations are satisfied or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in fullfull and all of Grantor’ commitments are terminated.

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Agent, immediately and without additional notice and without liability therefor to the Grantor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage Deed of Trust and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this MortgageDeed of Trust; (e) enter into leases demising the Premises or any part thereof; (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, this MortgageDeed of Trust, the Credit Agreement or the other Loan Documents, or to aid the execution of any power herein granted; and (g) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of Default, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 and 2.6 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) foreclosure and the conveyance of the Premises to the high bidder, or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in full.

Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, but only after the Agent has exercised its right to declare the entire balance of the Obligations due and payable, the Agent, immediately and without additional notice and without liability therefor to the Grantor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage Deed of Trust and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this MortgageDeed of Trust; (e) enter into leases demising the Premises or any part thereof; (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, this MortgageDeed of Trust, the Credit Agreement or the other Loan Credit Documents, or to aid the execution of any power herein granted; and (g) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of DefaultDefault or acceleration of the Loans, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 2.2, 2.6 and 2.6 2.8 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) cured with the consent of the Agent or until foreclosure and the conveyance of the Premises to the high bidder, bidder or (iii) the Term Loans and any other amounts then due and owing under until the Credit Agreement to any Lender is no longer in effect or the Agent Obligations are otherwise satisfied or paid in full.