Deed Trustee definition
Examples of Deed Trustee in a sentence
For greater certainty, the entering into of this Agreement does not fulfill the condition precedent, required under Section 5.4 of the Bank Credit Agreement to any of the Subordinated Obligations being secured by any Lien, that the Company, the Trustee and the Deed Trustee enter into a subordination and postponement agreement in form and content satisfactory to the Agent and the Majority Lenders (as defined in the Bank Credit Agreement).
Deed Trustee shall be under no duty to take any action hereunder except as expressly required hereunder or by law, or to perform any act which would involve Deed Trustee in any expense or liability or to institute or defend any suit in respect hereof, unless properly indemnified to Deed Trustee's reasonable satisfaction.
If an Event of Default shall occur and be continuing, Lender may notify the Trust Deed Trustee in connection with the assertion of Trust Deed remedies, and Lender may effectuate control of all of Borrower’s funds in its possession, in Lender’s reasonable discretion.
The Trustee agrees that it will immediately upon receipt by it of a notice of Default under this Indenture, or the cure or waiver of such Default, immediately give notice of same to the Deed Trustee.
The Trustee agrees that it will immediately upon receipt by it of a notice of a Default under the Indenture, or the cure or waiver of such Default, immediately give notice of same to the Deed Trustee.
Therefore, certain provisions of this Deed of Trust, including those relating to the removal and substitution of the Deed Trustee, the fees to be charged by the Deed Trustee, the powers and rights of the Deed Trustee, and procedural requirements to be followed by the Deed Trustee are each subject to applicable provisions of Colorado law.
Borrowers will act in a commercially reasonable manner in coordinating with the Trust Deed Trustee and Lender in connection with the closing of sales of Trust Properties and remittance to Lender of Mandatory Repayment Amounts.
The Deed of Trust, Assignment of Leases and Rents and Security Agreement encumbering each Trust Property (including any Additional Property), executed and delivered by the respective Borrowers (or Additional Borrowers) in favor of the Trust Deed Trustee for the benefit of Lender, as amended and/or replaced.
Deed Trustee shall apply the proceeds of the sale in the following order: (a) to the actual expenses of the sale, including, but not limited to, Trustee's and Servicer's fees and reasonable attorneys' fees, but not to exceed five percent (5%) of the principal balance at the time of recording the Notice of Default,; (b) to all sums secured by this Mortgage; and (c) any excess to the person or persons legally entitled to it.
The Mortgagors shall reimburse the Mortgagee and/or Deed Trustee for any reasonable expenses incurred pursuant to the provisions of this Article 53.