Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Mortgagee, immediately and without additional notice and without liability therefor to the Mortgagor, except for gross negligence, willful misconduct, bad faith or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of any applicable Intercreditor Agreement: (a) enter the Premises and take exclusive possession thereof; (b) invoke any legal remedies to dispossess the Mortgagor if the Mortgagor remains in possession of the Premises without the Mortgagee’s prior written consent; (c) hold, lease, develop, manage, operate or otherwise use the Premises upon such terms and conditions as the Mortgagee may deem reasonable under the circumstances (making such repairs, alterations, additions and improvements and taking other actions, from time to time, as the Mortgagee deems reasonably necessary or desirable), and apply all Rents and Profits collected by the Mortgagee in connection therewith in accordance with the provisions hereof; (d) institute proceedings for the complete foreclosure of the Mortgage, either by judicial action or by power of sale, in which case the Premises may be sold for cash or credit in one or more parcels; and (e) exercise all other rights, remedies and recourses granted under the Credit Agreement or otherwise available at law or in equity. At any foreclosure sale by virtue of any judicial proceedings, power of sale, or any other legal right, remedy or recourse, the title to and right of possession of any such property shall pass to the purchaser thereof, and to the fullest extent permitted by law, the Mortgagor shall be completely and irrevocably divested of all of its right, title, interest, claim, equity, equity of redemption, and demand whatsoever, either at law or in equity, in and to the property sold and such sale shall be a perpetual bar both at law and in equity against the Mortgagor, and against all other Persons claiming or to claim the property sold or any part thereof, by, through or under the Mortgagor. The Mortgagee or any of the Secured Parties may be a purchaser at such sale and if Mortgagee is the highest bidder, Mortgagee shall credit the portion of the purchase price that would be distributed to Mortgagee against the indebtedness in lieu of paying cash. In the event this Mortgage is foreclosed by judicial action, appraisement of the Premises is waived to the exte...
Rights Upon an Event of Default. If an Event of Default shall have occurred and be continuing, the Non-Defaulting Party shall have the right to:
Rights Upon an Event of Default. Upon the occurrence and during the continuance of an Event of Default, the Agent, immediately and without additional notice and without liability therefor to the Grantor, except for gross negligence, willful misconduct or unlawful conduct, may do or cause to be done any or all of the following to the extent permitted by applicable law, and subject to the terms of the Intercreditor Agreement: (a) take physical possession of the Premises; (b) exercise its right to collect the Rents and Profits; (c) enter into contracts for the completion, repair and maintenance of the Improvements thereon; (d) expend Term Loan funds and any rents, income and profits derived from the Premises for the payment of any taxes, insurance premiums, assessments and charges for completion, repair and maintenance of the Improvements, preservation of the lien of this Mortgage and satisfaction and fulfillment of any liabilities or obligations of the Grantor arising out of or in any way connected with the Premises whether or not such liabilities and obligations in any way affect, or may affect, the lien of this Mortgage; (e) enter into leases demising the Premises or any part thereof; (f) take such steps to protect and enforce the specific performance of any covenant, condition or agreement in the Notes, this Mortgage, the Credit Agreement or the other Loan Documents, or to aid the execution of any power herein granted; and (g) generally, supervise, manage, and contract with reference to the Premises as if the Agent were equitable owner of the Premises. Notwithstanding the occurrence of an Event of Default, the Agent shall continue to have the right to pay money, whether or not Term Loan funds, for the purposes described in Sections 2.2 and 2.6 hereof, and all such sums and interest thereon shall be secured hereby. The Grantor also agrees that any of the foregoing rights and remedies of the Agent may be exercised at any time during the continuance of an Event of Default independently of the exercise of any other such rights and remedies, and the Agent may continue to exercise any or all such rights and remedies until (i) the Event(s) of Default are cured, (ii) foreclosure and the conveyance of the Premises to the high bidder, or (iii) the Term Loans and any other amounts then due and owing under the Credit Agreement to any Lender or the Agent are paid in full.
Rights Upon an Event of Default. If any Event of Default shall occur, then:
Rights Upon an Event of Default. (a) If an Event of Default shall have occurred and be continuing, with the consent of the Note Insurer the Trustee may, or with the consent of the Note Insurer the Holders of at least 25% in aggregate outstanding Principal Amount of the Notes (subject to rescission as described below) may, or the Note Insurer may, declare by written notice to the Subordinated Certificateholders (and the Trustee, if declared by the Noteholders or the Note Insurer), the entire Principal Amount of the Notes immediately due, together with accrued interest thereon. The Subordinated Certificateholders shall have no right to declare an Event of Default or to make a declaration of acceleration. At any time after such a declaration of acceleration with respect to the Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee, if there has been deposited in the Collection Account, either pursuant to collections on the Trust Property or from amounts deposited with the Collateral Agent by the Subordinated Certificateholders, an amount sufficient to pay: (i) all sums paid or advanced by the Trustee, the Collateral Agent, the Note Insurer and the Note Paying Agent hereunder and the reasonable compensation, expenses and disbursements of the Trustee, the Collateral Agent, the Note Paying Agent, the Certificate Paying Agent, the Note Registrar, the Certificate Registrar, the Administrator, the Note Insurer and their agents and (ii) the Interest Amount with respect to the next Payment Date, such declaration and its consequences shall be rescinded and annulled.
Rights Upon an Event of Default. If an Event of Default shall have occurred and be continuing, the Non-Defaulting Party shall have the right to: immediately suspend performance upon written notice to the Defaulting Party; provided, however, that if the XXXX Supplier is the Non-Defaulting Party, such XXXX Supplier may only suspend performance if the default of the Defaulting Party constitutes an Event of Default under Sections 5.1(a) or (h); declare an Early Termination and designate by written notice an Early Termination Date which shall be no earlier than the day such designation notice is effective and no later than twenty (20) calendar days after such notice is effective; provided, however, that if the XXXX Supplier is the Non-Defaulting Party, such XXXX Supplier may only declare on Early Termination if the default of the Defaulting Party constitutes an Event of Default under Sections 5.1(a) or (h); calculate and receive from the Defaulting Party payment for any Default Damages which the Non-Defaulting Party incurs as of the date of the event giving rise to the Event of Default, until the earlier of: (i) the Early Termination Date (if applicable); (ii) the date the Event of Default has been cured by the Defaulting Party; or (iii) the date the Non-Defaulting Party waives such Event of Default; withhold any payments due to the Defaulting Party under this Agreement as a set-off against any Default Damages, or Termination Payment, as applicable, the Defaulting Party is entitled to receive; draw down, liquidate, set-off against, or demand payment under, any Guaranty, ICR Collateral and Margin Collateral; and exercise any other remedies at law or in equity.
Rights Upon an Event of Default. Upon the occurrence of an Event of Default, and at any time thereafter unless and until such Event of Default has been waived by the Bank or cured to the satisfaction of the Bank, the Bank shall be entitled to take any of the following actions without prejudice to the rights of the Bank to enforce its claims against the Company, except as otherwise specifically provided for herein:
Rights Upon an Event of Default. The Balancing Pool shall notify the Commission of any Event of Default by the Service Provider. It is understood that upon notification of an Event of Default, the Commission may, at its sole discretion, direct the Balancing Pool to take action which may include:
Rights Upon an Event of Default. Upon the occurrence and during the continuation of an Event of Default:
Rights Upon an Event of Default. Upon the occurrence of an Event of Default, the principal amount of the Note, together with any accrued and unpaid interest thereon, shall be immediately due and payable without notice or demand, presentment, or protest, all of which are hereby expressly waived. From and after the occurrence of an Event of Default, the Lender may take, use, sell or otherwise encumber or dispose of the Collateral in accordance with the California Commercial Code and shall apply the proceeds of any sale of the Collateral in accordance with the California Commercial Code; provided, however, that the Lender shall be entitled to retain as its sole property 50% of any proceeds from the sale of the Collateral which exceed the sum of the outstanding Obligation at the time of the Event of Default plus broker commissions charged in the sale of the Collateral. The Lender shall deliver a sale confirmation statement from the Lender’s broker each time a sale of Collateral is made pursuant to this section after an Event of Default.
