1983-102 - Laserfiche WebLink

Home Browse Search

{]) the purchaser may make payment, in whole or in part, ~f ~h~ 3mount by which his bid exceeds the sum necessary to Ji~c:,~r~u Jny prior liens and to pay costs, charges, fkes and cxp1?ns1?s :,y receipting for the share of the proceeds of the sale to "'hl~n JS a aondholder he will be entitled; and (h) to the extent that such rights may lawfully be w~ivell, :,either the Issuer nor the Borrower nor any one cla iming by, ':.!1rouqh or •Jnder the Issuer. or the Borrower shall set up, cl3i~ ?r ~e~k to take advantage of any a~pra isement, valuation, st3y, ~xtension or redemption laws n ow or hereafter in effect, in .:nJer -:;;) :ir~vent or h i nder the enforcement of the Loan Agreement or this I:1Jenture or the foreclosure of such lien, but the Issuer .-111..J ~!--.<! ,3orrower, for themselves and all who may claim by, ti,r:Ju.:in ..>r ,mJer the I ssuer or the Borrower, hereby waive, to the QXt~nt ~hat they may lawfully do so, the benefit of all such laws 1n:.J ·111 :men rights to which they may be entitled under the laws 0f -:~e Jt1te: provided, however, that any deficiency remaining ~ft~r j~l~ ?r foreclosure sha ll not constitute a general obliga~ ti.Jn <:>:: -:ne issuer but shall be payable by the rssuer. solely from th~ sour;:as pledged therefor under this Inuenture. Sec tion 9,4 Rights and Remedies of Trustee on Default un.ler :..0;1n .-\greement. The ·rrus tee shall have the right in the :1.1::1e )t ;;.he Issuer to declare any default and exercise any remedy or r~~edi•s unJer the Loan Agreement, including the righ t to J~cL1r~ c.he .'late Lnmediately due and payable and to take any ~v;1ilable proceedings against any party liable for the payment tner~of, incluuing any guarantor of the Borrower's obligations. In cne uvunt 0f a default by the Borrower, as described in S!lc~ion 9,1 of the Loan Agreement, in the punctual pay:nent of the ~oce sufficient t o pay the principal and interest on all the ~onus Jutstanding as such principal and interest become due and p~y;1Dle, the Trustee may and, upon the written request of the holJers ot ~at less than 25% in aggregate principal amount of the DonJs then Outstanding, the •rrustee shal l dec lac-e such Note in def~ult ~nd, upon being indemnified to its reasonable satisfaction, shall pursue such proper c-em e<li es as may be uirect~d lJy the holders of such Oonds for the enforcement of the pro·,i~ions of the Note, the Laun Agreement or any guaranty and the ~xercise of .:i.ny remedies available to the Issuer or the Tr·Jstee i:1 t.he even t of such uefault under the Note, the Loan ,\•3"r:~eme11t anu •lr1Y guari\nty subject ; howevei:, to the discretionary ri .Jht ;:if the Trustee anJ, upon written notice to t he Trustee by t!le hoL..Jers o f .:i .najority in i\ggregate principal. amount of the OucBt~nJin1 nonds, the duty of the Trustee to annul. such declaro- ti on :rnj lestrot its effect at. .1.ny time before the l'roj(l!ct sh.:i.ll hav,J u~en sol.J pursuant to any provisions of thi s Indenture, if -55-