Common use of Collection Upon Default Clause in Contracts

Collection Upon Default. Upon any event of default under any of the Loan Instruments, Beneficiary may, at any time without notice, either in person, by agent or by a receiver appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of the Trust Estate, or any part thereof, in its own name ▇▇▇ for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney’s fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The collection of such rents, issues and profits, or the entering upon and taking possession of the Trust Estate, or other application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of default; nor shall it constitute an assumption by the Beneficiary or any of the obligations, duties or covenants of Trustor related to such rents, issues and profits.

Collection Upon Default. Upon any event Event of default Default under any of the Loan Instruments, the Beneficiary may, at any time without notice, either in person, by agent or by a receiver appointed by a court, court and without regard to the adequacy of any security for the indebtedness hereby secured, (1) enter upon and take possession of the Trust Estate, or any part thereof, (2) in its own name ▇▇▇ for or otherwise collect such rents, issues and profitsthe Rents, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney’s attorneys' fees, upon any indebtedness secured hereby, and in such order as the Beneficiary may determine. The collection of such rents, issues and profits, the Rents or the entering upon and taking possession of the Trust Estate, or other the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of default; nor shall it constitute an assumption by the Beneficiary or any of the obligations, duties or covenants of Trustor related to such rents, issues and profits.