Right of Foreclosure. PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED that notwithstanding anything to the contrary contained in Section 67 of the Transfer of Property Act, 1882; in the event of default being made in repayment of the Mortgage Debt or any part thereof, the Mortgagee shall have a right to obtain from the Court a Decree that the Mortgagor or any of them shall be absolutely debarred of their right to redeem the Mortgaged Properties and to file a suit for foreclosure.
Appears in 3 contracts
Sources: Mortgage Loan Agreement, Mortgage Loan Agreement, Mortgage Loan Agreement