Powers of Mortgagee Sample Clauses
The "Powers of Mortgagee" clause defines the rights and authorities granted to the lender (mortgagee) under a mortgage agreement. Typically, this clause allows the mortgagee to take certain actions if the borrower defaults, such as selling the mortgaged property, appointing a receiver, or collecting rents and profits from the property. By outlining these powers, the clause ensures the lender has clear legal mechanisms to recover the loan amount or protect their interest in the property, thereby reducing the risk of loss in the event of borrower default.
Powers of Mortgagee. (a) If Mortgagee performs any act which it is empowered or authorized to perform under this Mortgage, including any act permitted by Section 5.8 or Subsection 6.3(d) of this Mortgage, that act alone shall not release or change the personal liability of any person for the payment and performance of the Secured Obligations then outstanding, or the lien of this Mortgage on all or the remainder of the Property for full payment and performance of all outstanding Secured Obligations. The liability of the original Mortgagor shall not be released or changed if Mortgagee grants any successor in interest to Mortgagor any extension of time for payment, or modification of the terms of payment, of any Secured Obligation. Mortgagee shall not be required to comply with any demand by the original Mortgagor that Mortgagee refuse to grant such an extension or modification to, or commence proceedings against, any such successor in interest.
(b) Mortgagee may take any of the actions permitted under Subsections 6.3(b) and/or 6.3
(c) regardless of the adequacy of the security for the Secured Obligations, or whether any or all of the Secured Obligations have been declared to be immediately due and payable, or whether notice of default and election to sell has been given under this Mortgage.
Powers of Mortgagee. At any time or from time to time, without liability therefor and without notice, without affecting the personal liability of any person or entity for the payment of the indebtedness secured hereby and without affecting the lien of this Mortgage upon the Mortgaged Property for the full amount of all amounts secured hereby, Mortgagee may (a) release all or any part of the Mortgaged Property, (b) consent to the making of any map or plat thereof, (c) join in granting any easement thereon or in creating any covenants or conditions restricting use or occupancy thereof, or (d) join in any extension agreement or in any agreement subordinating the lien or charge hereof.
Powers of Mortgagee. Mortgagee may, without affecting the personal liability of any person for payment of any indebtedness or performance of any obligations secured hereby and without liability therefor and without notice: (a) release all or any part of the Subject Property; (b) consent to the making of any map or plat thereof; and (c) join in any grant of easement thereon, any declaration of covenants and restrictions, or any extension agreement or any agreement subordinating the lien or charge of this Mortgage.
Powers of Mortgagee. The powers conferred on mortgagees or receivers or administrative receivers by the LPA and the Insolvency ▇▇▇ ▇▇▇▇ (as the case may be) shall apply to the security constituted by this Debenture except insofar as they are expressly or impliedly excluded and where there is ambiguity or conflict between the powers contained in such Acts and those contained in this Debenture, then this Debenture shall prevail.
Powers of Mortgagee. Except as may be necessary for making a mortgaged ship available as a security for the mortgage debt, a mortgagee shall not by reason of the mortgage, be deemed to be the owner of the ship nor shall a mortgagor be deemed to have ceased to be the owner of the ship.
Powers of Mortgagee. Mortgagee may at any time or from time to time renew or extend this Mortgage or (with the agreement of Mortgagor) alter or modify the same in any way, or waive any of the terms, covenants or conditions hereof or thereof, in whole or in part, and may release any portion of the Mortgaged Property or any other security, and grant such extensions and indulgences in relation to the Obligations, or release any Person liable therefor as Mortgagee may determine without the consent of any junior lienor or encumbrancer, without in any manner affecting the priority of the Lien and estate of this Mortgage on or in any part of the Mortgaged Property, and without affecting the liability of any other Person liable for any of the Obligations.
Powers of Mortgagee. Mortgagee may at any time or from time to time renew or extend this Mortgage or (with the agreement of Mortgagor) alter or modify the same in any way, or waive any of the terms, covenants or conditions hereof or thereof, in whole or in part, and may release or reconvey any portion of the Mortgaged Property or any other security, and grant such extension and indulgences in relation to the Loan Obligations, or release any Person liable therefor as Mortgagee may determine without the consent of any junior lienor or encumbrancer, without any obligation to give notice of any kind thereto, without in any manner affecting the priority of the lien and estate of this Mortgage on or in any part of the Mortgaged Property, and without affecting the liability of any other Person liable for any of the Loan Obligations.
Powers of Mortgagee. Mortgagee may at any time or from time to time renew or extend this Mortgage, or agree with Mortgagor to alter the same in any way, or waive any of the terms, covenants or conditions hereof in whole or in part and may release any portion of the Mortgaged Property or any other security, and grant such extensions and indulgences in relation to the Obligations as Mortgagee may determine without the consent of any junior lienor or encumbrancer and without any obligation to give notice of any kind thereto and without in any manner affecting the priority or the lien hereof on any part of the Mortgaged Property.
Powers of Mortgagee. After the occurrence of an Event of Default, the Mortgagee may (at any time and from time to time without giving Notice to the Mortgagor) do all or any one or more of the following (and all moneys which the Mortgagee pays or becomes liable to pay by reason of any of the following to any third party or otherwise shall be included in the Secured Moneys):
(a) (income) enter into receipt of the income from the Mortgaged Property;
(b) (options to purchase) grant an option to purchase the Mortgaged Property upon terms and conditions as the Mortgagee thinks fit;
(c) (proceedings) institute and prosecute and defend any proceedings either in the name of the Mortgagor or the Mortgagee in any court or tribunal in respect of any act or transaction contemplated by this Mortgage;
(d) (conditions of sale) upon any sale of the Mortgaged Property allow a purchaser any time for payment of the whole or any part of the purchase moneys either with interest at any rate or without interest and either upon Security of the property sold or any part of it or upon any other Security or without any Security and the conditions of sale may include any special conditions as the Mortgagee may in its absolute discretion think fit; or
(e) (exercise of Rights) exercise all other Rights then vested in it by this Mortgage, any statute, common law or the rules of equity.
Powers of Mortgagee. Mortgagee may take any of the actions permitted under Section 6.3 (Receiver) or Section 6.4 (