Common use of Waiver of Redemption, Notice and Marshalling of Assets Clause in Contracts

Waiver of Redemption, Notice and Marshalling of Assets. To the fullest extent permitted by applicable law, Trustor hereby irrevocably and unconditionally waives and releases (a) all benefits that might accrue to Trustor by virtue of any present or future moratorium law or other law exempting the Trust Property from attachment, levy or sale on execution or providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension of time for payment; (b) except for notices expressly provided for herein or in the Financing Agreement, all notices of any Event of Default or of Beneficiary's intention to accelerate maturity of the Obligations or of Trustee's or Beneficiary's election to exercise or actual exercise of any right, remedy or recourse provided for hereunder or under the Financing Agreement; and (c) any right to a marshalling of assets, a sale in inverse order of alienation or to direct the application of proceeds, including any rights under California Civil Code Sections 2899 and 3433, and all rights of Trustor under California Civil Code Section 2822; (d) all rights and remedies which Borrower may have or be able to assert by reason of the Laws of the State of California pertaining to the rights and remedies of sureties and (e) any and all conflicts with any provisions of any of the Loan Documents. If any law referred to in this Deed of Trust and now in force, of which Trustor or its successor or successors might take advantage despite the provisions hereof, shall hereafter be repealed or cease to be in force, such law shall thereafter be deemed not to constitute any part of the contract herein contained or to preclude the operation or application of the provisions hereof. Beneficiary shall have the right to determine the order in which any or all of the Trust Property shall be subjected to the remedies provided herein. Beneficiary shall have the right to determine the order in which any or all portions of the Obligations are satisfied from the proceeds realized upon the exercise of the remedies provided herein. Nothing contained herein shall be deemed to be a waiver of Trustor's rights under Section 2924c of the California Civil Code.

Appears in 3 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

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Waiver of Redemption, Notice and Marshalling of Assets. To the fullest extent permitted by applicable law, Trustor hereby irrevocably and unconditionally waives and releases (a) all benefits that might accrue to Trustor by virtue of any present or future moratorium law or other law exempting the Trust Property from attachment, levy or sale on execution or providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension of time for payment; (b) except for notices expressly provided for herein or in the Financing Credit Agreement, all notices of any Event of Default or of Beneficiary's intention to accelerate maturity of the Obligations or of Trustee's or Beneficiary's election to exercise or actual exercise of any right, remedy or recourse provided for hereunder or under the Financing Credit Agreement; and (c) any right to a marshalling of assets, a sale in inverse order of alienation or to direct the application of proceeds, including any rights under California Civil Code Sections 2899 and 3433, and all rights of Trustor under California Civil Code Section 2822; (d) all rights and remedies which Borrower may have or be able to assert by reason of the Laws of the State of California pertaining to the rights and remedies of sureties and (e) any and all conflicts with any provisions of any of the Loan Documents. If any law referred to in this Deed of Trust and now in force, of which Trustor or its successor or successors might take advantage despite the provisions hereof, shall hereafter be repealed or cease to be in force, such law shall thereafter be deemed not to constitute any part of the contract herein contained or to preclude the operation or application of the provisions hereof. Beneficiary shall have the right to determine the order in which any or all of the Trust Property shall be subjected to the remedies provided herein. Beneficiary shall have the right to determine the order in which any or all portions of the Obligations are satisfied from the proceeds realized upon the exercise of the remedies provided herein. Nothing contained herein shall be deemed to be a waiver of Trustor's rights under Section 2924c of the California Civil Code.

Appears in 3 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

Waiver of Redemption, Notice and Marshalling of Assets. To Subject to the terms and conditions of the Credit Agreement, to the fullest extent permitted by applicable law, Trustor Mortgagor hereby irrevocably and unconditionally waives and releases (a) all benefits benefit that might accrue to Trustor Mortgagor by virtue of any present or future moratorium statute of limitations or law or other law judicial decision exempting the Trust Mortgaged Property from attachment, levy or sale on execution or providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension of time for payment; (b) except for notices expressly provided for herein or in the Financing Agreement, all notices of any Event of Default or of Beneficiary's intention to accelerate maturity of the Obligations or of Trustee's or Beneficiary's Mortgagee’s election to exercise or the actual exercise of any right, remedy or recourse provided for hereunder or under the Financing AgreementLoan Documents; and (c) any right to a marshalling of assetsassets or a sale in inverse order of alienation. To the fullest extent Mortgagor may do so, Mortgagor agrees that Mortgagor will not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, extension or redemption, including the statutory right of redemption, and Mortgagor, for Mortgagor, Mortgagor’s representatives, successors and assigns, and for any and all persons ever claiming any interest in the Mortgaged Property, to the extent permitted by applicable law, hereby waives and releases (i) all rights of redemption whether equitable or statutory, valuation, appraisement, stay of execution; (ii) except as otherwise provided in any Loan Document, notice of intention to mature, accelerate, or declare due the whole of the Obligations, and notice of election to mature, accelerate, or declare due the whole of the Obligations; and (iii) all rights to a marshaling of assets of Mortgagor, including the Mortgaged Property, or to a sale in inverse order of alienation or to direct in the application event of proceeds, including any rights under California Civil Code Sections 2899 and 3433, and all rights foreclosure of Trustor under California Civil Code Section 2822; (d) all rights and remedies which Borrower may the liens and/or security interests hereby created. Mortgagor shall not have or be able to assert by reason any right under any statute or rule of the Laws of the State of California law pertaining to the rights and remedies marshaling of sureties and (e) any and all conflicts with any provisions assets, sale in inverse order of any alienation, the exemption of homestead, the administration of estates of decedents, or other matters whatever to defeat, reduce or affect the right of Mortgagee under the terms of this Mortgage to a sale of the Loan DocumentsMortgaged Property for the collection of the Obligations without any prior or different resort for collection, or the right of Mortgagee under the terms of this Mortgage to the payment of the Obligations out of the proceeds of sale of the Mortgaged Property in preference to every other claimant whatever. If any law referred to in this Deed of Trust Section and now in force, of which Trustor Mortgagor or its successor Mortgagor’s representatives, successors or successors assigns or any other persons claiming any interest in the Mortgaged Property might take advantage despite the provisions hereofthis Section, shall hereafter be repealed or cease to be in force, such law shall not thereafter be deemed not to constitute any part of the contract herein contained or to preclude the operation or application of the provisions hereof. Beneficiary shall have the right to determine the order in which any or all of the Trust Property shall be subjected to the remedies provided herein. Beneficiary shall have the right to determine the order in which any or all portions of the Obligations are satisfied from the proceeds realized upon the exercise of the remedies provided herein. Nothing contained herein shall be deemed to be a waiver of Trustor's rights under Section 2924c of the California Civil Codethis Section.

Appears in 2 contracts

Samples: Credit Agreement (Noranda Aluminum Holding CORP), Credit Agreement (Noranda Aluminum Holding CORP)

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Waiver of Redemption, Notice and Marshalling of Assets. To the fullest extent permitted by applicable available under Wyoming law, Trustor subject to the terms and conditions of the Credit Agreement, Mortgagor hereby irrevocably and unconditionally waives and releases (a) all benefits benefit that might accrue to Trustor Mortgagor by virtue of any present or future moratorium statute of limitations or law or other law judicial decision exempting the Trust Mortgaged Property from attachment, levy or sale on execution or of providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension of time for payment; (b) except for notices expressly provided for herein or in the Financing Agreement, all notices of any Event of Default or of Beneficiary's intention to accelerate maturity of the Obligations or of Trustee's or Beneficiary's Mortgagee’s election to exercise or the actual exercise of any right, remedy or recourse provided for hereunder or under the Financing AgreementLoan Documents; and (c) any right to a marshalling of assetsassets or a sale in inverse order of alienation. To the fullest extent Mortgagor may do so, Mortgagor agrees that Mortgagor will not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, extension or redemption, including the statutory right of redemption, and Mortgagor, for Mortgagor,’ Mortgagor’s representatives, successors and assigns, and for any and all persons ever claiming any interest in the Mortgaged Property, to the extent permitted by applicable law, hereby waives and releases. (i) all rights of redemption whether equitable or statutory, valuation, appraisement, stay of execution; (ii) except as otherwise provided in any Loan Document, notice of intention to mature, accelerate, or declare due the whole of the Secured Obligations, and notice of election to mature, accelerate, or declare due the whole of the Secured Obligations; and (iii) all rights to a marshaling of assets of Mortgagor, including the Mortgaged Property, or to a sale in inverse order of alienation or to direct in the application event of proceeds, including any rights under California Civil Code Sections 2899 and 3433, and all rights foreclosure of Trustor under California Civil Code Section 2822; (d) all rights and remedies which Borrower may the liens and/or security interests hereby created. Mortgagor shall not have or be able to assert by reason any right under any statute or rule of the Laws of the State of California law pertaining to the rights and remedies marshaling of sureties and (e) any and all conflicts with any provisions assets, sale in inverse order of any alienation, the exemption of homestead, the administration of estates of decedents, or other matters whatever to defeat, reduce or affect the right of Mortgagee under the terms of this Mortgage to a sale of the Loan DocumentsMortgaged Property for the collection of the Secured Obligations without any prior or different resort for collection, or the right of Mortgagee under the terms of this Mortgage to the payment of the Secured Obligations out of the proceeds of sale of the Mortgaged Property in preference to every other claimant whatever. If any law referred to in this Deed of Trust Section and now in force, of which Trustor Mortgagor or its successor Mortgagor’s representatives, successors or successors assigns or any other persons claiming any interest in the Mortgaged Property might take advantage despite the provisions hereofthis Section, shall hereafter be repealed or cease to be in force, such law shall not thereafter be deemed not to constitute any part of the contract herein contained or to preclude the operation or application of the provisions hereof. Beneficiary shall have the right to determine the order in which any or all of the Trust Property shall be subjected to the remedies provided herein. Beneficiary shall have the right to determine the order in which any or all portions of the Obligations are satisfied from the proceeds realized upon the exercise of the remedies provided herein. Nothing contained herein shall be deemed to be a waiver of Trustor's rights under Section 2924c of the California Civil Codethis Section.

Appears in 1 contract

Samples: Credit Agreement (1295728 Alberta ULC)

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