Extension for Foreclosure Proceedings Sample Clauses

Extension for Foreclosure Proceedings. If (a) it is necessary for the Financing Provider to have possession of the Project (as defined in the Assigned Agreement) in order for Financing Provider to cure an Event of Default which is Capable of Being Cured, as defined in Section 3.2(b), and (b) Financing Provider commences foreclosure proceedings against Seller within thirty (30) calendar days of receiving Notice of an Event of Default from PG&E or Seller, whichever is received first, then Financing Provider shall be allowed an additional period to complete such foreclosure proceedings, such period not to exceed ninety (90) calendar days; provided, however, that Financing Provider shall provide a Notice to PG&E that it intends to commence foreclosure proceedings with respect to Seller within ten (10) calendar days of receiving a Notice of such Event of Default from PG&E or Seller, whichever is received first. In the event Financing Provider or its designated Permitted Transferee succeeds to Seller’s interest in the Project as a result of foreclosure proceedings, the Financing Provider or Permitted Transferee shall be subject to the requirements of Section 3 of this Consent and Agreement.
Sample 1Sample 2Sample 3See All (53)
AutoNDA by SimpleDocs
Extension for Foreclosure Proceedings. If possession of the Project (as defined in the Assigned Agreement) is necessary for Financing Provider to cure an Event of Default and Financing Provider commences foreclosure proceedings against Seller within thirty (30) days of receiving notice of an Event of Default from PG&E or Seller, whichever is received first, Financing Provider shall be allowed a reasonable additional period to complete such foreclosure proceedings, such period not to exceed ninety (90) days; provided, however, that Financing Provider shall provide a written notice to PG&E that it intends to commence foreclosure proceedings with respect to Seller within ten (10) business days of receiving a notice of such Event of Default from PG&E or Seller, whichever is received first. In the event Financing Provider succeeds to Seller’s interest in the Project as a result of foreclosure proceedings, the Financing Provider or a purchaser or grantee pursuant to such foreclosure shall be subject to the requirements of Section 3 of this Consent and Agreement.
Sample 1Sample 2Sample 3See All (51)
Extension for Foreclosure Proceedings. If possession of the Project (as defined in the Assigned Agreement) is necessary for Financing Provider to cure an Event of Default and Financing Provider commences foreclosure proceedings against Seller within thirty (30) days of receiving notice of an Event of Default from Buyer or Seller, whichever is received first, Financing Provider shall be allowed a reasonable additional period to complete such foreclosure proceedings, such period not to exceed ninety
Sample 1Sample 2Sample 3See All (7)
Extension for Foreclosure Proceedings. If possession of the Project (as defined in the Assigned Agreement) is necessary for Financing Provider to cure an Event of Default and Financing Provider commences foreclosure proceedings against Seller within thirty (30) days of receiving notice of an Event of Default from RCEA or Seller, whichever is received first, Financing Provider shall be allowed a reasonable additional period to complete such foreclosure proceedings, such period not to exceed ninety (90) days; provided, however, that Financing Provider shall provide a written notice to RCEA that it intends to commence foreclosure proceedings with respect to Seller within ten (10) business days of receiving a notice of such Event of Default from RCEA or Seller, whichever is received first. In the event Financing Provider succeeds to Seller’s interest in the Project as a result of foreclosure proceedings, the Financing Provider or a purchaser or grantee pursuant to such foreclosure shall be subject to the requirements of Section 3 of this Consent and Agreement.
Sample 1Sample 2
Extension for Foreclosure Proceedings. If (a) it is necessary for the Financing Provider to have possession of the Project (as defined in the Assigned Agreement) in order for Financing Provider to cure an Event of Default which is Capable of Being Cured, as defined in Section 3.2(b), and (b) Financing Provider commences foreclosure proceedings against Seller within thirty (30) calendar days of receiving Notice of an Event of Default from RCEA or Seller, whichever is received first, then Financing Provider shall be allowed an additional period to complete such foreclosure proceedings, such period not to exceed ninety (90) calendar days; provided, however, that Financing Provider shall provide a Notice to RCEA that it intends to commence foreclosure proceedings with respect to Seller within ten (10) calendar days of receiving a Notice of such Event of Default from RCEA or Seller, whichever is received first. In the event Financing Provider or its designated Permitted Transferee succeeds to Seller’s interest in the Project as a result of foreclosure proceedings, the Financing Provider or Permitted Transferee shall be subject to the requirements of Section 3 of this Consent and Agreement.
Sample 1
Extension for Foreclosure Proceedings. If possession of the Project is necessary for the Secured Party to cure an Event of Default and the Secured Party commences foreclosure proceedings against Owner within twenty (20) Business Days of receiving notice of an Event of Default from Anaheim, the Secured Party shall be allowed a reasonable additional period to complete such foreclosure proceedings, such period not to exceed one hundred and twenty (120) days; provided, however, that the Secured Party shall provide a written Notice to Anaheim that it intends to commence foreclosure proceedings with respect to Owner within twenty (20) Business Days of receiving a Notice of such Event of Default from Anaheim or Owner, whichever is received first. In the event the Secured Party succeeds to Owner’s interest in the Project as a result of foreclosure proceedings, the Secured Creditor or a purchaser or grantee pursuant to such foreclosure shall be subject to the requirements of the Assigned Agreement and Section 3.
Sample 1

Related to Extension for Foreclosure Proceedings

  • Foreclosure Procedures During the period during which any Mortgage Loan is being foreclosed, funds in the Borrower's Tax and Insurance Reserve, as well as any rent receipts, shall be used to pay all taxes and insurance premiums that become due to the extent permitted by law, with any excess rents being deposited into the P & I Account. The Servicer shall advance (to the extent recoverable) payment of attorneys' fees, trustee's fees and other foreclosure costs at the commencement of foreclosure proceedings. The Servicer shall give Notice to the Owner (which notice may be contained in the Servicer's monthly reports pursuant to Article VII) of a foreclosure sale. The Notice shall set forth the date, location and time of the foreclosure sale. The Servicer shall be responsible for the general management of the Mortgaged Premises after any acquisition through foreclosure or deed-in-lieu of foreclosure or after the Servicer shall have taken possession of the Mortgaged Premises, whichever first occurs, until the Mortgaged Premises are otherwise disposed of and shall take whatever action is necessary to protect the security for the Mortgage Loan. Such action shall include management, maintenance and protection against vandals or the elements if the Mortgaged Premises are vacated. The Servicer shall also make monthly inspections to assure that the Mortgaged Premises are not damaged by vandals or the elements.

  • Litigation; Proceedings Except as specifically disclosed in the Disclosure Materials, there is no action, suit, notice of violation, proceeding or investigation pending or, to the best knowledge of the Company, threatened against or affecting the Company or any of its Subsidiaries or any of their respective properties before or by any court, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) which (i) adversely affects or challenges the legality, validity or enforceability of any Transaction Document or the Securities or (ii) could, individually or in the aggregate, have or result in a Material Adverse Effect.

  • Litigation and Regulatory Proceedings Except as disclosed in SEC Documents, there are no material actions, causes of action, suits, claims, proceedings, inquiries or investigations (collectively, “Proceedings”) before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of Company or any of the Subsidiaries, threatened against or affecting the Company or any of the Subsidiaries, the Common Stock or any other class of issued and outstanding shares of the Company’s Capital Stock, or any of the Company’s or the Subsidiaries’ officers or directors in their capacities as such and, to the knowledge of the executive officers of the Company, there is no reason to believe that there is any basis for any such Proceeding.

  • Corporate Proceedings All corporate proceedings and other legal matters necessary to carry out the provisions of this Agreement and the transactions contemplated hereby shall have been done to the reasonable satisfaction to counsel for the Underwriters.

  • Commencement of Proceedings Any claim notified pursuant to Clause 11.2 shall (if it has not been previously satisfied, settled or withdrawn) be deemed to be irrevocably withdrawn 9 months after the relevant time limit set out in Clause 10.2 unless, at the relevant time, legal proceedings in respect of the relevant claim have been commenced by being both issued and served except:

  • Arbitration Proceedings Arbitration between the parties will be subject to the following:

Time is Money Join Law Insider Premium to draft better contracts faster.