Common use of Suits for Enforcement; Power of Sale Clause in Contracts

Suits for Enforcement; Power of Sale. In case of the happening of an Event of Default as defined in Section 8.1, the Indenture Trustee from time to time in its discretion may exercise, in addition to all other rights and powers described herein or permitted under applicable law, all or any of the following powers as it may deem best for the protection and enforcement of the interests and rights of the Indenture Trustee and of the holders of the Notes then outstanding, subject to Section 8.21: (a) the Indenture Trustee may in its own name and as trustee of an express trust protect and enforce its rights and the rights of the holders of the Notes by bringing such actions, at law or in equity or before any administrative tribunal, as the Indenture Trustee, being advised by counsel, shall deem appropriate, including, without limitation, actions for the specific performance of any covenant hereof, or of the Notes, and for the foreclosure of any one or all of the Mortgages; and the Indenture Trustee shall be entitled, in its own name and as trustee of an express trust, to recover judgment for any and all sums then, or during any Default becoming due and payable by the Issuer under any provisions hereof or of the Notes or the Mortgages, including, without limitation, any deficiency in the payment of all amounts due under the provisions hereof or of the Notes or the Mortgages remaining after any sale of the Trust Estate in foreclosure proceedings or by virtue of the Indenture Trustee's power of sale or otherwise, and, in addition thereto, such amounts as shall be sufficient to cover the costs National Health Corporation Indenture of Trust and Security Agreement and expenses of collection, including attorneys' fees, and of other proceedings hereunder, and to collect out of the Property of the Issuer in any manner provided by law all amounts adjudged or decreed to be payable; (b) the Indenture Trustee as a matter of contract right and not as a penalty shall be entitled to the appointment of a receiver of, or may enter upon and take possession of, all or any part of the Trust Estate and such receiver or the Indenture Trustee shall thereupon be entitled to operate all or any part of the Trust Estate and to make all expenditures and to take all actions necessary or desirable therefor, and to collect and retain all income and earnings arising from such Property or business; (c) the Indenture Trustee may, with or without entry as aforesaid, sell all or any part of the Trust Estate at public or private sale, upon such notice, in such manner, at such time or times, and upon such terms consistent with the applicable laws of the respective states wherein any portion of the Trust Estate is located, as the Indenture Trustee may determine; (d) the Indenture Trustee shall have any and all rights and remedies provided for in the Mortgages; and (e) the Indenture Trustee shall have any and all rights and remedies provided to a secured party by the Uniform Commercial Code with respect to all parts of the Trust Estate which are or which are deemed to be governed by the Uniform Commercial Code. Neither the Issuer, NHLP or National, to the extent permitted by law, shall claim any rights under any stay, valuation, exemption or extension law, and each such entity hereby waives any right of redemption which it may have in respect of the Trust Estate.

Suits for Enforcement; Power of Sale. In case of the happening of an Event of Default as defined in Section 8.1Default, the Indenture Trustee Trustees from time to time in its their discretion may exercise, subject to section 10 hereof, in addition to all other rights and powers described herein or permitted under applicable law, all or any of the following powers as it they may deem best for the protection and enforcement of the interests and rights of the Indenture Trustee Trustees and of the holders of the Notes then outstanding, subject to Section 8.21: (a) the Indenture Trustee Trustees may in its their own name and as trustee trustees of an express trust protect and enforce its their rights and the rights of the holders of the Notes by bringing such actions, at law or in equity or before any administrative tribunal, as the Indenture TrusteeTrustees, being advised by counsel, shall deem appropriateappropriate or as they may be directed in writing by the Required Holders, including, without limitation, actions for the specific performance of any covenant hereof, or of the Notes, and for the foreclosure of any one or all of the Pledge Agreements or any one or all of the Mortgages; and the Indenture Trustee Trustees shall be entitled, in its their own name names and as trustee trustees of an express trust, to recover judgment for any and all sums then, or during any Default Default, becoming due and payable by the Issuer Obligors under any provisions provision hereof or of the Notes Notes, the Pledge Agreements or the Mortgages, including, without limitation, any deficiency in the payment of all amounts due under the provisions hereof or of the Notes Notes, the Pledge Agreements or the Mortgages Mortgages, remaining after any sale of the Trust Estate Mortgaged Property in foreclosure proceedings or by virtue of the Indenture Trustee's Trustees' power of sale or otherwise, and, in addition thereto, such amounts as shall be sufficient to cover the costs National Health Corporation Indenture of Trust and Security Agreement and expenses of collection, including attorneys' fees, and of other proceedings hereunder, and to collect out of the Property of the Issuer Obligators in any manner provided by law all amounts adjudged or decreed to be payable; (b) the Indenture Trustee Trustees as a matter of contract right and not as a penalty shall be entitled to the appointment of a receiver of, or may enter upon and take possession of, all or any part of the Trust Estate Mortgaged Property and such receiver or the Indenture Trustee Trustees shall thereupon be entitled to operate all or any part of the Trust Estate Mortgaged Property and to make all expenditures and to take all actions necessary or desirable therefor, and to collect and retain all income and earnings arising from such Property or business;; and (c) the Indenture Trustee Trustees may, with or without entry as aforesaid, sell all or any part of the Trust Estate Mortgaged Property at public or private sale, upon such notice, in such manner, at such time or times, and upon such terms consistent with the applicable laws of the respective states States wherein any portion of the Trust Estate such Mortgaged Property is located, as the Indenture Trustee Trustees may determine; (d) the Indenture Trustee shall have any and all rights and remedies provided for in the Mortgages; and (e) the Indenture Trustee shall have any and all rights and remedies provided to a secured party by the Uniform Commercial Code with respect to all parts of the Trust Estate which are or which are deemed to be governed by the Uniform Commercial Code. Neither the Issuer, NHLP or National, to the extent permitted by law, shall claim any rights under any stay, valuation, exemption or extension law, and each such entity hereby waives any right of redemption which it may have in respect of the Trust Estate.

Suits for Enforcement; Power of Sale. In case of the happening of an Event of Default as defined in Section 8.16.1, the Indenture Trustee from time to time in its discretion may exercise, in addition to all other rights and powers described herein or permitted under applicable law, all or any of the following powers as it may deem best for the protection and enforcement of the interests and rights of the Indenture Trustee and of the holders of the Notes then outstanding, subject to Section 8.21: (a) the Indenture Trustee may in its own name and as trustee of an express trust protect and enforce its rights and the rights of the holders of the Notes Noteholders by bringing such actions, at law or in equity or before any administrative tribunal, as the Indenture Trustee, being advised by counsel, shall deem appropriate, including, without limitation, actions for the specific performance of any covenant hereof, or of the Notes, and for the foreclosure of any one or all more of the Mortgages; and the Indenture Trustee shall be entitled, in its own name and as trustee of an express trust, to recover judgment for any and all sums then, or during any Default Event of Default, becoming due and payable by the Issuer Company under any provisions provision hereof or of the Notes or the Mortgages, including, without limitation, any deficiency in the payment of all amounts due under the provisions hereof or of the Notes or the Mortgages Mortgages, remaining after any sale of the Trust Estate Mortgaged Property in foreclosure proceedings or by virtue of the Indenture Trustee's power of sale or otherwise, and, in addition thereto, such amounts as shall be sufficient to cover the reasonable costs National Health Corporation Indenture of Trust and Security Agreement and expenses of collection, including reasonable attorneys' fees, and of other proceedings hereunder, and to collect out of the Property of the Issuer each Constituent Company in any manner provided by law all amounts adjudged or decreed to be payable; (b) the Indenture Trustee as a matter of contract right and not as a penalty shall be entitled to the appointment of a receiver of, or may enter upon and take possession of, all or any part of the Trust Estate Mortgaged Property and such receiver or the Indenture Trustee shall thereupon be entitled to operate all or any part of the Trust Estate Mortgaged Property and to make all expenditures and to take all actions necessary or desirable therefor, and to collect and retain all income and earnings arising from such Property or business; (c) the Indenture Trustee may, with or without entry as aforesaid, sell all or any part of the Trust Estate Mortgaged Property at public or private sale, upon such notice, in such manner, at such time or times, and upon such terms consistent with the applicable laws of the respective states States wherein any portion of the Trust Estate such Mortgaged Property is located, as the Indenture Trustee may determine;; and (d) the Indenture Trustee shall have any and all rights and remedies provided for in the Mortgages; and (e) the Indenture Trustee shall have any and all rights and remedies provided to a secured party by the Uniform Commercial Code with respect to all parts of the Trust Estate which are or which are deemed to be governed by the Uniform Commercial Code. Neither the Issuer, NHLP or NationalConstituent Companies, to the extent permitted by law, shall not claim any rights under any stay, valuation, exemption or extension law, and each such entity of them hereby waives any right of redemption which it may have in respect of the Trust EstateMortgaged Property.

Suits for Enforcement; Power of Sale. In case of the happening occurrence and continuance of an Indenture Event of Default as defined in Section 8.1Default, the Indenture Trustee from time to time in its discretion may may, subject always to the provisions of Section 7.14, exercise, in addition to all other rights and powers described herein or permitted under applicable law, all or any of the following powers as it may deem best for the protection and enforcement of the interests and rights of the Indenture Trustee and of the holders of Purchasers holding the Notes then outstanding, subject to Section 8.21Outstanding: (a) subject always to the then existing rights, if any, of the Lessee under the Lease, the Indenture Trustee may in its own name and as trustee of an express trust protect and enforce its rights and the rights of the holders of the Notes Purchasers by bringing such actions, at law or in equity or before any administrative tribunal, as the Indenture Trustee, being advised by counsel, shall deem appropriate, including, without limitation, actions for the specific performance of any covenant hereof, or of the Notes, and for the foreclosure of any one or all of the Mortgagesother Security Documents; and while an Indenture Event of Default shall have occurred and be continuing, the Indenture Trustee shall be entitled, in its own name and as trustee of an express trust, to recover judgment for any and all sums then, or during any Default becoming due and payable by the Issuer Lessor under any provisions provision hereof or of the Notes Notes, or any of the Mortgagesother Security Documents, including, without limitation, any deficiency in the payment of all amounts due under the provisions hereof or of the Notes or any of the Mortgages other Security Documents, remaining after any sale of the Trust Estate Properties in foreclosure proceedings or by virtue of the Indenture Trustee's power of sale or otherwise, and, in addition thereto, such amounts as shall be sufficient to cover the costs National Health Corporation Indenture of Trust and Security Agreement and expenses of collection, including attorneys' fees, and of other proceedings hereunder, and to collect out of the Property of the Issuer Indenture Estate in any manner provided by law all amounts adjudged or decreed to be payable; (b) subject always to the then existing rights, if any, of the Lessee under the Lease, the Indenture Trustee as a matter of contract right and not as a penalty shall be entitled to the appointment of a receiver of, or may enter upon and take possession of, all or any part of the Trust Estate Properties and such receiver or the Indenture Trustee shall thereupon be entitled to operate all or any part of the Trust Estate Properties and to make all expenditures and to take all actions necessary or desirable therefor, and to collect and retain all income and earnings arising from such Property or businessthe Properties; (c) subject always to the then existing rights, if any, of the Lessee under the Lease, the Indenture Trustee may, with or without entry as aforesaid, sell (or cause to be sold) all or any part of the Trust Estate Properties at public or private sale, upon such notice, in such manner, at such time or times, and upon such terms consistent with the applicable laws of the respective states state wherein any portion of the Trust Estate is such Properties are located, as the Indenture Trustee may determine; (d) subject always to the then existing rights, if any, of the Lessee under the Lease, the Indenture Trustee shall have any and all rights and remedies provided for in the Mortgagesother Security Documents; and (e) subject always to the then existing rights, if any, of the Lessee under the Lease, the Indenture Trustee shall have any and all rights and remedies provided to a secured party by the Uniform Commercial Code UCC with respect to all parts of the Trust Estate Properties which are or which are deemed to be governed by the Uniform Commercial Code. Neither the Issuer, NHLP or National, to the extent permitted by law, shall claim any rights under any stay, valuation, exemption or extension law, and each such entity hereby waives any right of redemption which it may have in respect of the Trust EstateUCC.