Common use of Use and Occupation of Property Clause in Contracts

Use and Occupation of Property. In connection with the exercise of Agent's rights under Subparagraph (a)(v) of this Paragraph 18, Mortgagee may enter upon, occupy, and use all or any part of the Property and may exclude Mortgagor from the Land and the Improvements or portion thereof as may have been so entered upon, occupied, or used. In the event Mortgagee manages the Land and the Improvements in accordance with Subparagraph (a)(vi) herein, Mortgagor shall pay to Mortgagee on demand a reasonable fee for the management thereof in addition to the Secured Obligations. Further, Mortgagee may make such alterations, renovations, repairs, and replacements to the Improvements, as Mortgagee, in its sole discretion, deems proper or appropriate. The obligation of Mortgagor to pay such amounts and all expenses incurred by Mortgagee in the exercise of its rights hereunder shall be included in the Secured Obligations and shall accrue interest at the Default Rate, unless collection from Mortgagor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Mortgagor under applicable law.

Use and Occupation of Property. In connection with the exercise of Administrative Agent's ’s rights under Subparagraph (a)(v) of this Paragraph 1819.1.4, Mortgagee may enter upon, occupy, and use all or any part of the Mortgaged Property and may exclude Mortgagor from the Land and the Improvements or portion thereof as may have been so entered upon, occupied, or used. In the event Mortgagee manages the Land and the Improvements in accordance with Subparagraph (a)(vi) 19.1.4 herein, Mortgagor shall pay to Mortgagee on demand a reasonable fee for the management thereof in addition to the Secured Obligations. Further, Mortgagee may make such alterations, renovations, repairs, and replacements to the Improvements, as Mortgagee, in its sole reasonable discretion, deems proper or appropriateappropriate to preserve the value of the collateral. The obligation of Mortgagor to pay such amounts and all expenses incurred by Mortgagee in the exercise of its rights hereunder shall be included in the Secured Obligations and shall accrue interest at the Default RateRate set forth in the Guaranty or the Loan Agreement, unless collection from Mortgagor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Mortgagor under applicable law.

Use and Occupation of Property. In connection with the exercise of Agent's rights under Subparagraph (a)(v) of this Paragraph 1817, Mortgagee the Collateral Agent may enter upon, occupy, and use all or any part of the Property and may exclude Mortgagor from the Land and the Improvements or portion thereof as may have been so entered upon, occupied, or used. In the event Mortgagee Collateral Agent manages the Land and the Improvements in accordance with Subparagraph (a)(vi) herein, Mortgagor shall pay to Mortgagee the Collateral Agent on demand a reasonable fee for the management thereof in addition to the Secured Obligations. Further, Mortgagee the Collateral Agent may make such alterations, renovations, repairs, and replacements to the Improvements, as Mortgageethe Collateral Agent, in its sole discretion, deems proper or appropriate. The obligation of Mortgagor to pay such amounts and all expenses incurred by Mortgagee Collateral Agent in the exercise of its rights hereunder shall be included in the Secured Obligations and shall accrue interest at the Default Rate, unless collection from Mortgagor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Mortgagor under applicable law.