Common use of Additional Rights of Mortgagee Clause in Contracts

Additional Rights of Mortgagee. (a) If there be commenced any action or proceeding that would, if decided against Mortgagor, have a material adverse effect upon the Premises or Chattels, or the title thereto or the lien of this Mortgage thereon, Mortgagee may, at its option, appear in any such action or proceeding and retain counsel therein, and take any action therein as Mortgagee deems advisable in its reasonable discretion. (b) Any provision of this Mortgage to the contrary notwithstanding, in cases where Mortgagee reasonably determines that an emergency exists, Mortgagee (acting through its agents or designees or otherwise) may, without prior notice, enter upon the Premises and take such action as Mortgagee deems necessary in its reasonable discretion to preserve the Mortgaged Property or Chattels or any parts thereof.