Common use of Change in Laws Clause in Contracts

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a mortgage, Mortgagee may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Junior Mortgage, Security Agreement, Assignment of Leases and Rents (Glimcher Realty Trust)

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a Mortgage or mortgage, Mortgagee may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 VII or that prescribed in such statute, as amended.. Mortgage (GPT) (FORM) 20

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Gramercy Property Trust Inc.)

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a deed of trust or mortgage, Mortgagee Beneficiary may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 VII or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (General Growth Properties, Inc.)

Change in Laws. If any statute now applicable in any state in ---------------- which any of the Mortgaged Property Properties is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a deed of trust or mortgage, Mortgagee the Holder may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 VIII or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Deed of Trust, Assignment of Proceeds of Production, Security Agreement and Financing Statement (Colony Energy, Inc.)

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a deed of trust or mortgage, Mortgagee may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 7 or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Open End Mortgage (Alexion Pharmaceuticals Inc)

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a mortgage, Mortgagee may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article ARTICLE 8 or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Mortgage, Security Agreement, Assignment of Leases and Rents (Glimcher Realty Trust)

Change in Laws. If any statute now applicable in any state in which any of the Mortgaged Property is now located provides, or shall hereafter be amended to provide, a new or different procedure for the sale of real property under a power of sale in a Mortgage or mortgage, Mortgagee may, in its sole discretion, if same be permitted by applicable law, follow the sale procedure set forth in this Article 8 VII or that prescribed in such statute, as amended.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Gramercy Property Trust Inc.)