Power of Sale definition

Power of Sale means a provision in a lien instrument authorizing, in the event of a specified default, a sale of the property subject to the lien.

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Power of Sale means all remedial powers of a mortgagee pursuant to section 56(1)(a)- (c);

Power of Sale means the right, power and authority of Mortgagee to sell or cause the sale of the Mortgaged Property and/or a part or parts thereof, at a public sale or auction, after any Event of Default and in accordance with and pursuant to Article 14 of the Real Property Actions and Proceedings Law of the State of New York, as the same may hereafter be modified or amended, or any successor statute or statutes, and/or under and pursuant to any other laws or regulations now in effect and/or hereafter enacted, which provides for and/or enables the property encumbered by a mortgage to be sold by a mortgagee and/or its agents and/or representatives in a public and/or private non-judicial sale.

Examples of Power of Sale in a sentence

PROVIDED ALWAYS that before making any such entry or taking possession as aforesaid or making any sale, calling in, collection or conversion under the aforesaid power in that behalf (hereinafter referred to as the "Power of Sale"), the Trustee shall give written notice of their intention to the Company.
The statutory powers of leasing conferred on the Security Trustee shall be extended so as to authorise the Security Trustee to lease and make agreements for leases at a premium or otherwise, to accept surrenders of leases and to grant options on such terms as the Security Trustee shall consider expedient and without the need to observe any of the provisions of sections 99 and 100 Law of Property ▇▇▇ ▇▇▇▇, and Clause 8.2 (Power of Sale) shall operate as a variation and extension of section 101 of such Act.
Furthermore, if an action is filed to foreclose this Mortgage, or if Mortgagee seeks to foreclose this Mortgage by power of sale under the Oklahoma Power of Sale Mortgage Foreclosure Act, Mortgagee shall be entitled to the immediate appointment of a receiver pursuant to 12 O.S. §1551(2)(c) without the necessity of further proof.
The parties hereto are cognizant of and acknowledge the Oklahoma Power of Sale Mortgage Foreclosure Act which went into effect November 1, 1986.
Notary Public, State of _______________________ Printed Name: _____________________________ My commission expires: _____________________ (Official Stamp or Seal) [Below Notary Certification to be completed by Hawaii Notary Only] NOTARY CERTIFICATION STATEMENT Document Identification or Description: Mortgage, Security Agreement and Financing Statement with Power of Sale Doc.

More Definitions of Power of Sale

Power of Sale means any Law which permits the holder of this Mortgage to foreclose this Mortgage by power of sale and/or to sell any portion of the Property through either judicial or non-judicial means or at a judicial or non-judicial sale. If the Property is located in the State of New York, the meaning of such term shall also include the power to sell pursuant Article 14 of the Real Property Actions and Proceeding Law of New York and similar Laws.

Power of Sale means a provision in a lien instrument

Power of Sale means the right, power and authority of Mortgagee to sell or cause the sale of the Mortgaged Property and/or a part or parts thereof, at public sale or auction, after any Event of Default and in accordance with and pursuant to any statute or law of the state or jurisdiction in which the Property are located permitting the sale of property subject to a mortgage or security agreement in a non-judicial foreclosure sale, as any such statute or law may be in effect on the date hereof, or may be hereinafter enacted and/or modified or amended, or any successor statute or statutes, and/or under and pursuant to any other laws or regulations now in effect and/or hereafter enacted, which provides for and/or enables the property encumbered by a mortgage to be sold by a mortgagee and/or its respective agents and/or representatives in a public and/or private non-judicial sale, including, without limitation, the STATUTORY POWER OF SALE pursuant to New Hampshire RSA 479:25.

Power of Sale shall have the meaning ascribed thereto in Section 17 hereof.

Power of Sale means the Power of Sale executed by Company in favor of Collateral Agent substantially in the form attached hereto as Exhibit C.

Power of Sale means the right of a lender to sell residential real property after an uncured default at a public auction as provided in this act to repay the note or other obligation secured by a deed of trust or mortgage.

Power of Sale means that certain Power of Sale of even date herewith to be delivered by Borrowers, substantially in the form of Exhibit W attached hereto.