Purchase by Mortgagee. In any Judicial Sale, or other public sale made as contemplated by this Mortgage, Mortgagee may bid for and purchase any of the Property being sold, and will be entitled, upon presentment of the relevant Loan Documents and documents evidencing the same, to apply the amount of the Obligations held by it against the purchase price for the items of the Property so purchased. The amount so applied will be credited against the Obligations in accordance with the terms of the Loan Agreement.
Appears in 3 contracts
Samples: Term Loan Agreement (Acadia Realty Trust), And Security Agreement (Inland Diversified Real Estate Trust, Inc.), KBS Real Estate Investment Trust III, Inc.
Purchase by Mortgagee. In any Judicial Sale, or other public sale made as contemplated by this Mortgage, Mortgagee may bid for and purchase any of the Property being sold, and will be entitled, upon presentment of the relevant Loan Documents and documents evidencing the same, to apply the amount of the Obligations held by it against the purchase price for the items of the Property so purchased. The amount so applied will be credited against the Obligations in accordance with the terms of the Loan Agreement.
Appears in 1 contract
Samples: Easement and Construction Agreement (KBS Real Estate Investment Trust III, Inc.)
