Common use of Foreclosure Sales Clause in Contracts

Foreclosure Sales. (a) For purposes of executory process under applicable Louisiana law, Trustor hereby acknowledges the Secured Obligations, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the court’s term or during vacation, in favor of the Beneficiary, for the full amount of the Secured Obligations, including but not limited to the Notes, the Credit Agreement, the other Loan Documents and the other Secured Obligations, in principal, interest, costs and attorney’s fees, together with all charges and expenses whatsoever owing pursuant to this Mortgage. Upon the occurrence and during the continuance of an Event of Default, and in addition to all of its rights, powers and remedies under this Mortgage and applicable law, Beneficiary may, at its option, cause all or any part of the Property to be seized and sold (any such sale or disposition being referred to herein as a “Foreclosure Sale”) 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 Beneficiary deems acceptable. Trustor hereby waives all and every appraisement of the Property and waives and renounces the benefit of appraisement and the benefit of all laws relative to the appraisement of the Property seized and sold under executory or other legal process. Trustor agrees to waive, and does hereby specifically waive:

Foreclosure Sales. (a) For purposes of executory process under applicable Louisiana law, Trustor hereby acknowledges the Secured Obligations, CONFESSES JUDGMENT thereon and consents that judgment be rendered and signed, whether during the court’s term or during vacation, in favor of the Beneficiary, for the full amount of the Secured Obligations, including but not limited to the Notes, the Credit Agreement, the other Loan Documents and the other Secured Obligations, in principal, interest, costs and attorney’s fees, together with all charges and expenses whatsoever owing pursuant to this Mortgage. Upon the occurrence and during the continuance of an Event of Default, and in addition to all of its rights, powers and remedies under this Mortgage and applicable law, Beneficiary may, at its option, cause all or any part of the Property to be seized and sold (any such sale or disposition being referred to herein as a “Foreclosure Sale”) 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 Beneficiary deems acceptable. Trustor hereby waives all and every appraisement of the Property and waives and renounces the benefit of appraisement and the benefit of all laws relative to the appraisement of the Property seized and sold under executory or other legal process. Trustor agrees to waive, and does hereby specifically waive: