TAKING IN PAYMENT. If the Trustee elects to exercise its right to take in payment the Charged property and the Grantor requires that the Trustee instead sell by itself or under judicial authority, the Charged property on which such right is exercised, the Grantor hereby acknowledges that the Trustee shall not be bound to abandon its recourse of taking in payment unless, prior to the expiry of the time period allocated for surrender, the Trustee (i) has been granted a security satisfactory to it, to ensure that the proceeds of the sale of the Charged property will be sufficient to pay the Guaranty in full, (ii) has been reimbursed for all reasonable costs and expenses incurred in connection to this Deed, including all fees of consultants and legal counsel and (iii) has been advanced the necessary sums for the sale of said Charged property; the Grantor further acknowledges that the Trustee alone is entitled to select the type of sale it may wish to conduct or have conducted.
TAKING IN PAYMENT. In the event that the CREDITOR exercises its right to become the absolute owner of the CHARGED PROPERTY or any part thereof, the GRANTOR, concurrently with surrender or at any time thereafter at the request of the CREDITOR, will sign a voluntary Deed providing for the CREDITOR to take in payment the CHARGED PROPERTY or any part thereof. All expenditures and improvements made by any holder of the CHARGED PROPERTY and all payments made on account of the INDEBTEDNESS and the accessories thereof will belong to the CREDITOR without return or compensation. The CREDITOR will not be obliged to compensate or indemnify the GRANTOR or any other person for any cause whatsoever.
TAKING IN PAYMENT. If the Attorney elects to exercise its hypothecary recourse of taking in payment the Hypothecated Property and the Grantor requires, in accordance with the applicable provisions of the Civil Code, instead that the Attorney sell itself or under judicial authority the Hypothecated Property on which such right is exercised, the Grantor hereby acknowledges that the Attorney shall not be bound to abandon its recourse of taking in payment unless, prior to the expiry of the time period allotted for surrender, the Attorney (i) has been granted a security which it considers satisfactory, guaranteeing that said Hypothecated Property will be sold at a sufficiently high price to enable the principal of and interest on the Bonds and other moneys secured hereunder to be paid in full, (ii) has been reimbursed of all costs and expenses incurred, including all fees of consultants and legal counsel in connection with this Deed, the Hypothec herein and the indebtedness secured hereby, and (iii) has been advanced the necessary sums for the sale of said Hypothecated Property; the Grantor further acknowledges that the Attorney shall have the right to choose the type of sale it may carry out.
TAKING IN PAYMENT. If the Attorney elects to exercise its right to take in payment the Charged Property and the Grantor requires that the Attorney instead sell by itself or under judicial authority, the Charged Property on which such right is exercised, the Grantor hereby acknowledges that the Attorney shall not be bound to abandon its recourse of taking in payment unless, prior to the expiry of the time period allocated for surrender, the Attorney (i) has been granted a security satisfactory to it, to ensure that the proceeds of the sale of the Charged Property will be sufficient to pay the Bonds in full, (ii) has been reimbursed for all costs and expenses incurred in connection to this Deed, including, without limitation, all fees of consultants and legal counsel, and (iii) has been advanced the necessary sums for the sale of said Charged Property; the Grantor further acknowledges that the Attorney alone is entitled to select the type of sale it may wish to conduct or have conducted.
