Common use of Waiver of Statutory Rights Clause in Contracts

Waiver of Statutory Rights. Mortgagor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor hereby waives the benefit of such laws (to the extent permitted by applicable law). Mortgagor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, all beneficially interested persons; (ii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iii) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 3 contracts

Samples: Gibraltar Packaging Group Inc, Gibraltar Packaging Group Inc, Gibraltar Packaging Group Inc

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Waiver of Statutory Rights. Mortgagor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor hereby waives the benefit of such laws (to the extent permitted by applicable law)laws. Mortgagor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled marshaled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor further waives any and all rights of homestead, dower, elective or distributive share and redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, ; (ii) all beneficially interested persons; (iiiii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iiiiv) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 2 contracts

Samples: Mortgage, Security Agreement (Akorn Inc), Mortgage, Security Agreement (Akorn Inc)

Waiver of Statutory Rights. Mortgagor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor hereby waives the benefit of such laws (to the extent permitted by applicable law)laws. Mortgagor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled marshaled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, ; (ii) all beneficially interested persons; (iiiii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iiiiv) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Wilsons the Leather Experts Inc)

Waiver of Statutory Rights. Mortgagor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor hereby waives the benefit of such laws (to the extent permitted by applicable law)laws. Mortgagor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled marshaled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, ; (ii) all beneficially interested persons; (iiiii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iiiiv) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Mirant North America, LLC)

Waiver of Statutory Rights. Mortgagor Trustor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor Trustor hereby waives the benefit of such laws (to the extent permitted by applicable law). MortgagorTrustor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor Trustor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, all beneficially interested persons; (ii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iii) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 1 contract

Samples: Gibraltar Packaging Group Inc

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Waiver of Statutory Rights. Mortgagor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, and Mortgagor hereby waives the benefit of such laws (to the extent permitted by applicable law)laws. Mortgagor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled marshaled upon any foreclosure of the lien of this Mortgage, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this Mortgage, for itself and on behalf of: (i) any trust estate of which the Premises are a part, all beneficially interested persons; (ii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this Mortgage; and (iii) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Wilsons the Leather Experts Inc)

Waiver of Statutory Rights. Mortgagor Trustor shall not apply for or avail itself of any appraisement, valuation, redemption, stay, extension, or exemption laws, or any so-called "moratorium laws," now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this MortgageDeed of Trust, and Mortgagor Trustor hereby waives the benefit of such laws (to the extent permitted by applicable law)laws. MortgagorTrustor, for itself and all who may claim through or under it, waives any and all rights to have the Property and estates comprising the Property marshalled marshaled upon any foreclosure of the lien of this MortgageDeed of Trust, and agrees that any court having jurisdiction to foreclose such lien may order the Property sold in its entirety. Mortgagor Trustor further waives any and all rights of redemption from foreclosure and from sale under any order or decree of foreclosure of the lien created by this MortgageDeed of Trust, for itself and on behalf of: (i) any trust estate of which the Premises are a part, ; (ii) all beneficially interested persons; (iiiii) each and every person acquiring any interest in the Property or title to the Premises subsequent to the date of this MortgageDeed of Trust; and (iiiiv) all other persons to the extent permitted by the provisions of laws of the State in which the Premises are located.

Appears in 1 contract

Samples: Credit Agreement (Orbimage Inc)

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