Tenancy at Sufferance. If Trustor remains in possession of the Trust Property after it is sold as provided above or Lender otherwise becomes entitled to possession of the Trust Property upon default of Trustor, Trustor shall become a tenant at sufferance of Lender or the purchaser of the Trust Property and shall, at Lender’s option, either: (i) pay a reasonable rental for the use of the Trust Property; or (ii) vacate the Trust Property immediately upon the demand of Lender.
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement (Prospect Global Resources Inc.), Prospect Global Resources Inc.
Tenancy at Sufferance. If Trustor remains in possession of the Trust Real Property after it the Property is sold as provided above or a Lender otherwise becomes entitled to possession of the Trust Property upon default of TrustorBorrower, Trustor shall become a tenant at sufferance of Lender or the purchaser of the Trust Property and shall, at Lender’s 's option, either: either (ia) pay a reasonable rental for the use of the Trust Property; , or (iib) vacate the Trust Property immediately upon the demand of Lender.
Appears in 1 contract
Samples: Mortgage, Security Agreement (Water Pik Technologies Inc)
Tenancy at Sufferance. If Trustor remains in possession of the Trust Property after it the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Trust Property upon default of Trustor, Trustor shall become a tenant at sufferance of Lender or the purchaser of the Trust Property and shall, at Lender’s Lenders option, either: either (i1) pay a reasonable rental for the use of the Trust Property; , or (ii2) vacate the Trust Property immediately upon the demand of Lender.
Appears in 1 contract
Samples: Eaco Corp
Tenancy at Sufferance. If Trustor remains in possession of the Trust Property after it the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Trust Property upon default of Trustor, Trustor shall become a tenant at sufferance of Lender or the purchaser of the Trust Property and shall, at Lender’s option, either: either (i1) pay a reasonable rental for the use of the Trust Property; , or (ii2) vacate the Trust Property immediately upon the demand of Lender.
Appears in 1 contract
Samples: Business Loan Agreement (Qad Inc)
