Deed to Secure Debt Remedies. Without limiting any other remedies set forth in this Lease, and also, without limiting the generality of Article XXIV hereof, Lessor, for the benefit and at the direction of the Required Participants, may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder, or (to the extent permitted by law) for the sale of the Leased Property or the other Collateral, or against Lessee on a recourse basis for the Lease Balance, or for the specific performance of any covenant or agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Property or the other Collateral, or for the enforcement of any other appropriate legal or equitable remedy. Lessor shall have all rights available to a grantee of security title in and to the portion of the Leased Property constituting real property pursuant to a deed to secure debt under the laws of the State of Georgia. In the event that any provisions of this Lease shall be inconsistent with any Applicable Laws, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall ▇▇▇▇▇ ▇▇▇▇▇▇ any rights or remedies upon default of Lessee which are more limited than the rights that would otherwise be vested in Lessor under such Applicable Laws in the absence of such provision, Lessor shall be vested with the rights granted in such Applicable Laws to the full extent permitted by law.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Norfolk Southern Corp)
Deed to Secure Debt Remedies. Without limiting any other remedies set forth in this Lease, and also, without limiting the generality of Article XXIV hereof, Lessor, for the benefit and at the direction of the Required Participants, may proceed by a suit or suits in equity or at law, whether for a foreclosure hereunder, or (to the extent permitted by law) for the sale of the Leased Property or the other Collateral, or against Lessee on a recourse basis for the Lease Balance, or for the specific performance of any covenant or agreement contained herein or in aid of the execution of any power granted herein, or for the appointment of a receiver pending any foreclosure hereunder or the sale of the Leased Property or the other Collateral, or for the enforcement of any other appropriate legal or equitable remedy. Lessor shall have all rights available to a grantee of security title in and to the portion of the Leased Property constituting real property pursuant to a deed to secure debt under the laws of the State of Georgia. In the event that any provisions of this Lease shall be inconsistent with any Applicable Laws, the provisions of such Applicable Laws shall take precedence over such provision of this Lease, but shall not invalidate or render unenforceable any other provision of this Lease that can be construed in a manner consistent with such Applicable Laws. If any provision of this Lease shall ▇▇▇▇▇ ▇▇▇▇▇▇ any rights or remedies upon default of Lessee which are more limited than the rights that would otherwise be vested in Lessor under such Applicable Laws in the absence of such provision, Lessor shall be vested with the rights granted in such Applicable Laws to the full extent permitted by law.. ARTICLE XVII
Appears in 1 contract
Sources: Lease Agreement