Tenancy at Will. In the event of a trustee’s sale hereunder, if at the time of such sale Grantor occupies the portion of the Security so sold or any part thereof, Grantor shall immediately become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either tenant or landlord, at a rental per day based upon the value of the portion of the Security so occupied, such rental to be due and payable daily to the purchaser. An action of forcible detainer shall lie if the tenant holds over after a demand in writing for possession of such Security.
Appears in 1 contract
Sources: Deed of Trust and Security Agreement (Highland Hospitality Corp)
Tenancy at Will. In the event of a trustee’s 's sale hereunder, if at the time of such sale Grantor occupies the portion of the Security so sold or any part thereof, Grantor shall immediately become the tenant of the purchaser at such sale, which tenancy shall be a tenancy from day to day, terminable at the will of either tenant or landlord, at a rental per day based upon the value of the portion of the Security so occupied, such rental to be due and payable daily to the purchaser. An action of forcible detainer shall lie if the tenant holds over after a demand in writing for possession of such Security.
Appears in 1 contract
Sources: Deed of Trust, Security Agreement (Hispanic Television Network Inc)