Sale of Mortgaged Property. In the event Grantor or any of Grantor’s successors conveys any interest in the Mortgaged Property, or in any part thereof, to any other party, Beneficiary may, without notice to Grantor or Grantor’s successors, deal with any owner of any part of the Mortgaged Property with reference to this Deed of Trust and the Obligation, either by way of forbearance on the part of Beneficiary, or extension of time of payment of the Obligation, or release of all or any part of the Mortgaged Property, or any other property securing payment and performance of the Obligation, without in any way modifying or affecting Beneficiary’s rights and liens hereunder or the liability of Grantor or any other party liable for payment and performance of the Obligation, in whole or in part; provided, that no action taken or omitted to be taken by Beneficiary under this Section 6.4 shall be deemed a waiver of any default occurring by reason of any such conveyance.
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Samples: Subordinate Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.), Subordinate Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Baron Energy Inc.)
Sale of Mortgaged Property. In the event Grantor or any of Grantor’s successors conveys any interest in the Mortgaged Property, or in any part thereof, to any other party, Beneficiary may, without notice to Grantor or Grantor’s successors, deal with any owner of any part of the Mortgaged Property with reference to this Deed of Trust and the Obligation, either by way of forbearance on the part of Beneficiary, or extension of time of payment of the Obligation, or release of all or any part of the Mortgaged Property, or any other property securing payment and performance of the Obligation, without in any way modifying or affecting Beneficiary’s rights and liens Liens hereunder or the liability of Grantor or any other party liable for payment and performance of the Obligation, in whole or in part; provided, provided that no action taken or omitted to be taken by Beneficiary under this Section 6.4 shall be deemed a waiver of any default occurring by reason of any such conveyance.
Appears in 2 contracts
Samples: Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Primeenergy Corp), Deed of Trust, Mortgage, Security Agreement, Assignment of Production and Financing Statement (Primeenergy Corp)
Sale of Mortgaged Property. In the event Grantor or any of Grantor’s successors conveys any interest in the Mortgaged Property, or in any part thereof, to any other party, Beneficiary may, without notice to Grantor or Grantor’s successors, deal with any owner of any part of the Mortgaged Property with reference to this Deed Dead of Trust and the Obligation, either by way of forbearance on the part of Beneficiary, or extension of time of payment of the Obligation, or release of all or any part of the Mortgaged Property, or any other property securing payment and performance of the Obligation, without in any way modifying or affecting Beneficiary’s rights and liens hereunder or the liability of Grantor or any other party liable for payment and performance of the Obligation, in whole or in part; provided, that no action taken or omitted to be taken by Beneficiary under this Section 6.4 shall be deemed a waiver of any default occurring by reason of any such conveyance.
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