Foreclosure Event definition

Foreclosure Event means: (i) foreclosure under the Mortgage; (ii) any other exercise by Mortgagee of rights and remedies (whether under the Mortgage or under applicable law, including bankruptcy law) as holder of the Loan and/or the Mortgage, as a result of which Mortgagee becomes owner of the Property; or (iii) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in the Property in lieu of any of the foregoing.

Foreclosure Event means any of the following events:

Foreclosure Event means: (a) foreclosure under the Mortgage; (b) any other exercise by Mortgagee of rights and remedies (whether under the Mortgage or under applicable law, including bankruptcy law) as holder of the Loan and/or the Mortgage, as a result of which Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Mortgagee (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.

Examples of Foreclosure Event in a sentence

• A “Successor Landlord” means any party that becomes owner of the Property as the result of a Foreclosure Event.

• A “Successor Landlord” means any party that becomes owner of Landlord’s Premises as the result of a Foreclosure Event.

• Mandatory retirement on request The Security Trustee must retire upon the expiration of 90 days following receipt of a notice from the Trust Manager (acting on the instructions of the Sub-Trust Manager) requesting the Security Trustee to retire, provided that no Foreclosure Event is subsisting and the Trust Manager or the Sub-Trust Manager has provided written notice to each Rating Agency of the proposed retirement.

• After the occurrence of a Foreclosure Event, the Security Trustee will at its reasonable discretion foreclose or enforce or cause the foreclosure or the enforcement of the Security.

• After a Foreclosure Event has occurred and subsists, the Security Trustee will be entitled to take enforcement action under and in accordance with the Issuer Security Deed and the Master Security Trust Deed.

More Definitions of Foreclosure Event

Foreclosure Event means: (a) foreclosure under the Mortgage with respect to the Leased Property; (b) any other exercise by Agent of rights and remedies with respect to the Leased Property (whether under the Mortgage or under applicable law, including bankruptcy law) as holder of the Mortgage, as a result of which Successor Landlord becomes owner of the Leased Property; or (c) delivery by Landlord to Agent (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Leased Property in lieu of any of the foregoing.

Foreclosure Event means and refer to any foreclosure of any lien or security interest or conveyance in lieu of foreclosure with respect to any Company Mortgage pursuant to which a Company Mortgagee Designee acquires all, but not less than all, of Company’s rights, titles, interests and obligations under this Agreement. A Foreclosure Event shall not relieve the Company of any of its obligations under this Agreement.

Foreclosure Event means: (a) foreclosure under the Deed of Trust, whether by judicial action or pursuant to nonjudicial proceedings; (b) any other exercise by Lender of rights and remedies (whether under the Deed of Trust or under applicable law, including bankruptcy law) as holder of the Loan and/or as beneficiary under the Deed of Trust, as a result of which any Successor Landlord becomes owner of Landlord’s Premises; or (c) delivery by Landlord to Lender (or its designee or nominee) of a deed or other conveyance of Landlord’s interest in Landlord’s Premises in lieu of any of the foregoing.

Foreclosure Event. ’ means any: (a) foreclosure sale, trustee's sale, assignment of this Lease in lieu of foreclosure, sale under 11 U.S.C.A. § 363, or similar transfer affecting this Lease or (b) Leasehold Mortgag-

Foreclosure Event means the occurrence of any Event of Default and, as a result thereof, the occurrence of (a) the acceleration (including any automatic acceleration in connection with any bankruptcy or insolvency proceeding) of the maturity of the principal amount of any Loan under the Credit Agreement or (b) the commencement of (or the election to commence) the exercise of remedies in respect of the Collateral.

Foreclosure Event means an Enforcement Action in the category that is described in clause (A) of the definition of Enforcement Action.

Foreclosure Event means a foreclosure, trustee's sale, deed, transfer, assignment or other conveyance in lieu of foreclosure, or other similar exercise of rights or remedies under any Leasehold Mortgage, including the occurrence of any transfer of title to the mortgaged estate by operation of or pursuant to any Bankruptcy Proceeding, in each case whether the transferee is a Leasehold Mortgagee, a party claiming through a Leasehold Mortgagee, or a third party.