After Foreclosure Sample Clauses
After Foreclosure. After the foreclosure of a Mortgage, acceptance by a Mortgagee of an assignment or deed in lieu of foreclosure, or appointment of a receiver at the request or demand of a Mortgagee, the Mortgagee shall have no obligation to produce Tenant’s books and records for the periods prior to the foreclosure or appointment of the receiver.
After Foreclosure. If an Owner Lessor receives any Proceeds of any sale, disposition or other realization upon any of the Collateral following the exercise of remedies under its Pledge Agreement, it shall apply such Proceeds in the following order of priority:
(a) first, to the payment in full of the costs and expenses incurred by or on behalf of such Owner Lessor in connection with or incident to the custody, preservation, use or operation of, or sale of, collection from, or other realization upon, any of the Collateral; and
(b) second, to the payment to the Owner Lessors (or its successors or assigns) of any surplus then remaining pro rata according to the respective Termination Values (as defined in the respective Facility Leases) then in effect under their respective Facility Leases (or to whomever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct) to be applied by each Owner Lessor as provided in its Pledge Agreement.