Laserfiche WebLink
202202060 <br />foreclosed as to the Deed of Trust Mortgaged Properties, or any portion thereof, in any manner permitted <br />by any applicable Requirement of Law, and any foreclosure suit may be brought by Trustee or by <br />Administrative Agent. To the extent, if any, required to cause this instrument to be so effective as a <br />mortgage as well as a deed of trust, Mortgagor hereby mortgages the Deed of Trust Mortgaged Properties <br />to Administrative Agent. In the event a foreclosure hereunder as to the Deed of Trust Mortgaged Properties, <br />or any part thereof, shall be commenced by Trustee, or his substitute or successor, Administrative Agent <br />may at any time before the sale of such properties direct Trustee to abandon the sale, and may then institute <br />suit for the foreclosure of this Mortgage as to such properties. It is agreed that if Administrative Agent <br />should institute a suit for the foreclosure of this Mortgage, Administrative Agent may at any time before <br />the entry of a final judgment in said suit dismiss the same, and require Trustee, its substitute or successor, <br />to sell the Deed of Trust Mortgaged Properties, or any part thereof, in accordance with the provisions of <br />this Mortgage. This Mortgage shall also constitute and may be enforced from time to time as an assignment, <br />chattel mortgage, contract, deed of trust, mortgage, financing statement and security agreement, and from <br />time to time as any one or more thereof as appropriate under any applicable Requirement of Law. <br />Administrative Agent shall be entitled to all of the rights, remedies and benefits of a secured party, <br />mortgagee and a beneficiary granted under any applicable Requirement of Law; and, to the fullest extent <br />of such law, shall be entitled to enforce such rights, remedies and benefits. Mortgagor intends and hereby <br />grants to Administrative Agent all rights, powers and remedies accorded a secured party, mortgagee and a <br />beneficiary under any applicable Requirement of Law whether or not such rights, powers and remedies are <br />expressly granted or reserved herein. <br />Section 4.5. Receiver. In addition to all other remedies herein provided for, Mortgagor agrees that, <br />upon the occurrence of a default, Administrative Agent shall as a matter of right be entitled to the <br />appointment of a receiver or receivers by ex parte application, without notice to Mortgagor (except in <br />Oklahoma a receiver may only be appointed in accordance with OKLA. STAT. title 12 § 1551; and in <br />Virginia a receiver may only be appointed without notice in accordance with Sections 8.01-592 and 8.01- <br />594, Code of Virginia (1950), as amended), for all or any part of the Property, whether such receivership <br />be incident to a proposed sale (or sales) of such property or otherwise, and without regard to the value of <br />the Property or the solvency of any person or persons liable for the payment of the indebtedness secured <br />hereby. Furthermore, Mortgagor does hereby consent to the appointment of such receiver or receivers, <br />waives any and all defenses to such appointment, and agrees not to oppose any application therefor by <br />Administrative Agent, and agrees that such appointment shall in no manner impair, prejudice or otherwise <br />affect the rights of Administrative Agent under Article III hereof. Mortgagor expressly waives notice of a <br />hearing for appointment of a receiver and the necessity for bond or an accounting by the receiver. Any <br />receiver shall have all powers conferred by the court appointing such receiver, which powers shall, to the <br />extent not prohibited by any applicable Requirement of Law, include, without limitation, the right to enter <br />upon and take immediate possession of the Property or any part thereof, to exclude Mortgagor therefrom, <br />to hold, use, operate, manage and control the Property, to make all such repairs, replacements, alterations, <br />additions and improvements to the same as such receiver or Administrative Agent may deem proper or <br />expedient, to lease, sell or otherwise transfer the Property or any portion thereof as such receiver or <br />Administrative Agent may deem proper or expedient, and to demand and collect all of the other earnings, <br />rents, issues, profits, proceeds and other sums due or to become due with respect to the Property. Nothing <br />herein is to be construed to deprive Administrative Agent of any other right, remedy or privilege it may <br />now or hereafter have under any applicable Requirement of Law to have a receiver appointed. Any money <br />advanced by Administrative Agent in connection with any such receivership shall be a demand obligation <br />(which obligation Mortgagor hereby expressly promises to pay) owing by Mortgagor to Administrative <br />Agent and shall bear interest, from the date of making such advancement by Administrative Agent until <br />paid, at the rate set forth in Section 2.9(c) of the Credit Agreement. <br />Section 4.6. Proceeds of Foreclosure. The proceeds of any sale held in foreclosure of the Liens, <br />privileges, and/or security interests evidenced hereby shall be applied as required by any applicable <br />35 <br />144646513 <br />