Foreclosure Event

Example Definitions of "Foreclosure Event"
Foreclosure Event. A "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 a 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. The termination of this Agreement in accordance with Section 11(e) of this Agreement as a result of a breach of any covenants set forth in Sections 2, 3 and 5 of this Agreement by the Company or Vestar
Foreclosure Event. (x) the completion of a foreclosure of the Loan or the acceptance by Lender (in writing) of a deed in lieu of foreclosure under the Loan Documents or (y) if the Loan is bifurcated into a mortgage and mezzanine loan pursuant to Section 9.2 of the Loan Agreement, the completion of a foreclosure pursuant to any 2 mezzanine loan lender's rights under any mezzanine loan document and UCC or the acceptance by any mezzanine loan lender (in writing) of a conveyance in lieu of foreclosure, each (in the... case of the events described in this clause (y)) in accordance with the applicable terms of the related intercreditor agreement, provided that a "Foreclosure Event" as described in this clause (y) shall not occur if any Guarantor or any Affiliate colludes with such mezzanine loan lender to effectuate such Foreclosure Event without the participation or consent of Lender. View More
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