Common use of Possession, Management and Income Clause in Contracts

Possession, Management and Income. If an Event of Default shall have occurred under this Indenture, Grantee, without further notice, may enter upon and take possession of the Property or any part thereof, in any manner permitted by law, by reasonable force, summary proceedings, ejectment or otherwise and may remove Grantor and all other Persons and any and all property therefrom, and Grantee may hold, operate and manage the same, make all necessary or proper repairs, renewals, and replacements, and useful alterations, additions, betterments and improvements thereto and thereon as may seem advisable to either of them, and insure and reinsure the Property as may seem advisable and to either of them, and may receive all earnings, income, rents, issues and proceeds accruing with respect thereto. Any amounts so received by Grantee shall be applied (a) to pay (i) the expenses of operating the Property and of all maintenance, repairs, renewals, replacements, alterations, additions, betterments, improvements, taxes, assessments, insurance premiums, reasonable compensation for the services of all attorneys, advisors, brokers, receivers, agents and other employees engaged or employed by Grantee and all other costs and expenses of entering a bond and taking possession of and holding the Property, and (ii) any lien prior to the estate created hereby which Grantee may consider it necessary or desirable to discharge and then (b) in the manner provided in Article XI of this Indenture. If an Event of Default shall have occurred under the Loan Agreement or if the Loan Agreement shall be terminated, all sums so received by Grantee shall be applied in the manner specified in Article XI of this Indenture.

Possession, Management and Income. If an Event of Default shall have occurred under this Indenture, GranteeTrustee or Beneficiary, without further notice, may enter upon and take possession of the Property or any part thereof, in any manner permitted by law, by reasonable force, summary proceedings, ejectment or otherwise and may remove Grantor Borrower and all other Persons and any and all property therefrom, and Grantee Trustee or Beneficiary may hold, operate and manage the same, make all necessary or proper repairs, renewals, and replacements, and useful alterations, additions, betterments and improvements thereto and thereon as may seem advisable to either of them, and insure and reinsure the Property as may seem advisable and to either of them, and may receive all earnings, income, rents, issues and proceeds accruing with respect thereto. Any amounts so received by Grantee Trustee or Beneficiary shall be applied (a) to pay (i) the expenses of operating the Property and of all maintenance, repairs, renewals, replacements, alterations, additions, betterments, improvements, taxes, assessments, insurance premiums, reasonable compensation for the services of Trustee and all attorneys, advisors, brokers, receivers, agents and other employees engaged or employed by Grantee Trustee or Beneficiary and all other costs and expenses of entering a bond and taking possession of and holding the Property, and (ii) any lien prior to the estate created hereby lien of this Indenture which Grantee Beneficiary may consider it necessary or desirable to discharge and then (b) in the manner provided in Article XI of this Indenture. If an Event of Default shall have occurred under the Loan Agreement or if the Loan Agreement shall be terminated, all sums so received by Grantee Trustee or Beneficiary shall be applied in the manner specified in Article XI of this Indenture.

Possession, Management and Income. If an Event of Default shall have occurred under this Indenture, GranteeTrustee or Beneficiary, without further notice, may enter upon and take possession of the Property or any part thereof, in any manner permitted by law, by reasonable force, summary proceedings, ejectment or otherwise and may remove Grantor Borrower and all other Persons and any and all property therefrom, and Grantee Trustee or Beneficiary may hold, operate and manage the same, make all necessary or proper repairs, renewals, and replacements, and useful alterations, additions, betterments and improvements thereto and thereon as may seem advisable to either of them, and insure and reinsure the Property as may seem advisable and to either of them, and may receive all earnings, income, rents, issues and proceeds accruing with respect thereto. Any amounts so received by Grantee Trustee or Beneficiary shall be applied (a) to pay (i) the expenses of operating the Property and of all maintenance, repairs, renewals, replacements, alterations, additions, betterments, improvements, taxes, assessments, insurance premiums, reasonable compensation for the services of Trustee and all attorneys, advisors, brokers, receivers, agents and other employees engaged or employed by Grantee Trustee or Beneficiary and all other costs and expenses of entering a bond and taking possession of and holding the Property, and (ii) any lien prior to the estate created hereby lien of this Indenture which Grantee Beneficiary may consider it necessary or desirable to discharge and then (b) in the manner provided in Article XI XII of this Indenture. If an Event of Default shall have occurred under the Loan Agreement or if the Loan Agreement shall be terminated, all sums so received by Grantee Trustee or Beneficiary shall be applied in the manner specified in Article XI XII of this Indenture.

Possession, Management and Income. If an Event of Default shall have occurred under this Indenture, GranteeTrustee or Beneficiary, without further notice, may enter upon and take possession of the Property or any part thereof, in any manner permitted by law, by reasonable force, summary proceedings, ejectment or otherwise and may remove Grantor Trustor and all other Persons and any and all property therefrom, and Grantee Trustee or Beneficiary may hold, operate and manage the same, make all necessary or proper repairs, renewals, and replacements, and useful alterations, additions, betterments and improvements thereto and thereon as may seem advisable to either of them, and insure and reinsure the Property as may seem advisable and to either of them, and may receive all earnings, income, rents, issues and proceeds accruing with respect thereto. Any amounts so received by Grantee Trustee or Beneficiary shall be applied (a) to pay (i) the expenses of operating the Property and of all maintenance, repairs, renewals, replacements, alterations, additions, betterments, improvements, taxes, assessments, insurance premiums, reasonable compensation for the services of Trustee and all attorneys, advisors, brokers, receivers, agents and other employees engaged or employed by Grantee Trustee or Beneficiary and all other costs and expenses of entering a bond and taking possession of and holding the Property, and (ii) any lien prior to the estate created hereby lien of this Indenture which Grantee Beneficiary may consider it necessary or desirable to discharge and then (b) in the manner provided in Article XI XII of this Indenture. If an Event of Default shall have occurred under the Loan Agreement or if the Loan Agreement shall be terminated, all sums so received by Grantee Trustee or Beneficiary shall be applied in the manner specified in Article XI XII of this Indenture.