Examples of Secured Debtholders in a sentence
It is the express intention of all parties hereto that the Secured Debtholders are subrogated to all of the rights, powers, and equities of the original lenders and beneficiary under the Existing Mortgage, that the liens created hereby shall relate back to and be effective as of the effective date of the Existing Mortgage and that nothing contained herein shall be construed to impair or discharge the liens and security interests created thereby.
Upon the occurrence of an Actionable Default, the Mortgagee may, acting upon an Act of Secured Debtholders, foreclose this Instrument by judicial proceeding, and may invoke the power of sale and any other remedies permitted by applicable law or provided herein.
In addition, the Mortgagor agrees to execute and deliver to the Mortgagee, upon the Mortgagee's request, made at the direction of an Act of Secured Debtholders, any financing statements, as well as extensions, renewals and amendments thereof, and reproductions of this Instrument in such form as the Mortgagee may require to perfect a security interest with respect to said items.
The Mortgagor acknowledges that, to the extent permitted by applicable law, upon the occurrence of an Actionable Default, the Mortgagee without prior judicial hearing may, acting upon an Act of Secured Debtholders, exercise the power of sale herein granted.
At any time after the occurrence of an Actionable Default, the Mortgagee may, acting upon an Act of Secured Debtholders, either with or without entry or taking possession as herein provided, proceed by suit or suits at law or in equity or by any other appropriate proceeding or remedy to foreclose the lien hereof for the Secured Obligations or any part thereof and to sell the Mortgaged Property as an entirety or otherwise, as the Mortgagee may determine.