Executory Process Clause Samples
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Executory Process. For purposes of executory process under applicable Louisiana law, Mortgagor does hereby acknowledge the Secured Obligations, CONFESS JUDGMENT thereon and consent that judgment be rendered and signed, whether during the court’s term or during vacation, in favor of the Mortgagee, for the full amount of the Secured Obligations, including, but not limited to, the Loans, the Credit Agreement and the other Financing Documents, in principal, interest, costs and attorneys’ fees, together with all charges and expenses whatsoever owing pursuant to this Mortgage. Upon the occurrence of an Event of Default, and in addition to all of its rights, powers and remedies under this Mortgage and applicable law, Mortgagee may, at its option, cause all or any part of the Mortgaged Property to be seized and sold under executory process or under writ of fieri facias issued in execution of an ordinary judgment obtained upon the Secured Obligations, without appraisement to the highest bidder, for cash or upon such terms as Mortgagee deems acceptable. Mortgagor hereby waives all and every appraisement of the Mortgaged Property and waives and renounces the benefit of appraisement and the benefit of all laws relative to the appraisement of the Mortgaged Property seized and sold under executory or other legal process. Mortgagor agrees to waive, and does hereby specifically waive:
(i) the benefit of appraisement provided for in Articles 2332, 2336, 2723 and 2724, Louisiana Code of Civil Procedure, and all other laws conferring such benefits;
(ii) the demand and three (3) days’ delay accorded by Articles 2639 and 2721, Louisiana Code of Civil Procedure;
(iii) the notice of seizure required by Article 2293, Louisiana Code of Civil Procedure;
(iv) the three (3) days’ delay provided by Articles 2331 and 2722, Louisiana Code of Civil Procedure;
(v) the benefit of the other provisions of Articles 2331, 2722 and 2723, Louisiana Code of Civil Procedure;
(vi) the benefit of the provisions of any other articles of the Louisiana Code of Civil Procedure not specifically mentioned above; and
(vii) all pleas of division and discussion with respect to the Secured Obligations.
Executory Process. Debtor hereby acknowledges the Indebtedness, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the court's term or during vacation, in favor of the Secured Party, for the full amount of the Indebtedness, including without limitation the Note and the Loan Agreement, in principal, interest, and attorney's fees, together with all reasonable and necessary charges and expenses pursuant to this instrument, the Note, the Loan Agreement or other evidence of Indebtedness. Upon the occurrence of an Event of Default, and in addition to all of its rights, powers and remedies under this instrument and applicable law, Secured Party may, at its option, cause all or any part of the Collateral to be seized and sold under executory process or under writ of fieri fascias issued in execution of an ordinary judgment obtained upon the Indebtedness, without appraisement to the highest bidder, for cash or under such terms as Secured Party deems acceptable. Debtor hereby waives all and every appraisement of the Collateral and waives and renounces the benefit of appraisement and the benefit of all laws relative to the appraisement of the Collateral seized and sold under executory or other legal process.
Executory Process. Cumulative of the provisions provided in Section 8 of this Agreement, Secured Party may foreclose on the Collateral under this Agreement by executory process subject to, and on the terms and conditions required or permitted by, applicable law, and shall have the right to appoint a keeper of such Collateral.
Executory Process. Cumulative of the provisions provided in Section 5.02 of this Mortgage (or within the offshore area over which the United States of America asserts jurisdiction and to which the laws of such state are applicable with respect to this Mortgage and/or the liens created hereby), the Mortgagee may foreclose this Mortgage by executory process subject to, and on the terms and conditions required or permitted by, Applicable Law, and shall have the right to appoint a keeper of such Mortgaged Properties.