Common use of Foreclosure Event Clause in Contracts

Foreclosure Event. A “Foreclosure Event” means: (a) foreclosure under the Deed of Trust; (b) any other exercise by Bank of rights and remedies (whether under the Deed of Trust or under applicable law, including bankruptcy law) as holder of the Loan and/or the Deed of Trust, as a result of which Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Bank (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.

Foreclosure Event. A “Foreclosure Event” means: (ai) foreclosure under the Deed of TrustMortgage; (bii) any other exercise by Bank Lender of rights and remedies (whether under the Deed of Trust Mortgage or under applicable law, including bankruptcy law) as holder of the Loan and/or the Deed of TrustMortgage, as a result of which a Successor Landlord Owner (as hereinafter defined) becomes owner of Landlord’s Premisesthe Property; or (ciii) delivery by Landlord Borrower to Bank Lender (or its designee or nominee) of a deed or other conveyance of LandlordBorrower’s interest in Landlord’s Premises the Property in lieu of any of the foregoing.

Foreclosure Event. A “"Foreclosure Event” " means: (a) foreclosure under the Deed of TrustLoan Documents; (b) any other exercise by Bank Lender of rights and remedies (whether under the Deed of Trust Loan Documents or under applicable law, including bankruptcy law) as holder of the Loan and/or the Deed of TrustLoan Documents, as a result of which a Successor Landlord Owner becomes owner of Landlord’s Premisesthe Project; or (c) delivery by Landlord Developer to Bank Lender (or its designee or nominee) and acceptance by Lender (or such designee or nominee) of a deed or other conveyance of Landlord’s 's interest in Landlord’s Premises the Project in lieu of any of the foregoing.