Additional Rights of Lender. In addition to any other right Lender may have to draw upon a Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full any Letter of Credit: (a) if Lender has received a notice from the issuing bank that the Letter of Credit will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (b) upon receipt of notice from the issuing bank that the Letter of Credit will be terminated (except if a substitute Letter of Credit is provided); or (c) if Lender has received notice that the bank issuing the Letter of Credit shall cease to be an Approved Bank (unless an alternative Approved Bank issues an equivalent Letter of Credit within fifteen (15) days of Borrower’s receipt of notice of same). Notwithstanding anything to the contrary contained in the above, Lender is not obligated to draw any Letter of Credit upon the happening of an event specified in (a), (b) or (c) above and shall not be liable for any losses sustained by Borrower due to the insolvency of the bank issuing the Letter of Credit if Lender has not drawn the Letter of Credit.
Additional Rights of Lender. In addition to any other right Lender may have to draw upon a Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full any Letter of Credit: (a) with respect to any evergreen Letter of Credit, if Lender has received a notice from the issuing bank that the Letter of Credit will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (b) with respect to any Letter of Credit with a stated expiration date, if Lender has not received a notice from the issuing bank that it has renewed the Letter of Credit at least thirty (30) days prior to the date on which such Letter of Credit is scheduled to expire and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (c) upon receipt of notice from the issuing bank that the Letter of Credit will be terminated (except if the termination of such Letter of Credit is permitted pursuant to the terms and conditions of this Agreement or a substitute Letter of Credit is provided); or (d) if Lender has received notice that the bank issuing the Letter of Credit shall cease to be an Eligible Institution, and Borrower shall have failed to provide a replacement Letter of Credit within five (5) Business Days thereof. Notwithstanding anything to the contrary contained in the above, Lender is not obligated to draw any Letter of Credit upon the happening of an event specified in (a), (b), (c) or (d) above and shall not be liable for any losses sustained by Borrower due to the insolvency of the bank issuing the Letter of Credit if Lender has not drawn the Letter of Credit. If any Letter of Credit proceeds shall be disbursed to Lender hereunder, Borrower shall thereafter be permitted to deliver to Lender, as a replacement for such cash proceeds, either a Letter of Credit or Reserve Guaranty in the amount of the cash proceeds then remaining after application in accordance with the terms hereof, and Lender shall promptly disburse such remaining cash proceeds to Borrower upon its receipt of such replacement Letter of Credit or Reserve Guaranty.
Additional Rights of Lender. (a) Lender shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Security Agreement and may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon and sell the Collateral or any part thereof pursuant to the judgment or decree of a court of competent jurisdiction.
(b) Lender shall, to the extent permitted by law and without regard to the solvency or insolvency at the time of any Person then liable for the payment of any of the Obligations or the then value of the Collateral, and without requiring any bond from any party to such proceedings, be entitled to the appointment of a special receiver or receivers (who may be Lender) for the Collateral or any part thereof and for the rents, issues, tolls, profits, royalties, revenues and other income therefrom, which receiver shall have such powers as the court making such appointment shall confer, and to the entry of an order directing that the rents, issues, tolls, profits, royalties, revenues and other income of the property constituting the whole or any part of the Collateral be segregated, sequestered and impounded for the benefit of Lender, and Borrower irrevocably consents to the appointment of such receiver or receivers and to the entry of such order.
Additional Rights of Lender. (a) Lender may take or release other security for the payment of the Loan and other indebtedness secured by the Loan Documents, may release any party primarily or secondarily liable therefor and may apply any other security held by it to the satisfaction of the Loan and such other indebtedness without prejudice to any of its rights under this Assignment.
(b) Lender may at any time and from time to time in writing (i) waive compliance by Assignor with any covenant herein made by Assignor to the extent and in the manner specified in such writing; (ii) consent to Assignor doing any act that hereunder Assignor is prohibited from doing, or consent to Assignor failing to do any act which hereunder Assignor is required to do, to the extent and in the manner specified in such writing; or (iii) release any portion of the Subject Property and/or the Leases, or any interest therein, from this Assignment. No such act shall in any way impair the rights of Lender hereunder except to the extent specifically agreed to by Xxxxxx in such writing.
(c) The rights and remedies of Lender hereunder shall not be impaired by any indulgence, including, but not limited to, (i) any renewal, extension, or modification that Lender may grant with respect to any indebtedness secured hereby; (ii) any surrender, compromise, release, renewal, extension, exchange, or substitution that Lender may grant in respect of any item of the Subject Property and/or the Leases or any part thereof or any interest therein; or (iii) any release or indulgence granted to any endorser, guarantor, or surety of any indebtedness secured hereby.
Additional Rights of Lender. This Agreement shall become effective on the date that all of the following conditions shall have been satisfied (or waived in writing by Lender; it being agreed that Lender’s funding of the Loan shall constitute Lender’s agreement that such conditions have been satisfied or waived unless the parties shall have otherwise agreed in writing):
Additional Rights of Lender. The Lender may exercise any of the rights and remedies in Sections 9.6 or 9.7 upon the occurrence of any Default whether or not the Lender has formally declared an Event of Default or accelerated any Obligations, provided, however, that the Lender shall not exercise any rights or remedies pursuant to this Section 9.11 until after the Borrower is on notice of the circumstance or condition that would give rise to the Default.
Additional Rights of Lender. 8.1.1. Lender shall have the right to commence, appear in, or defend any action or proceedings purporting to affect the Premises or its furnishings or equipment or the rights or duties of the parties hereunder or the payment of any of the Loan proceeds and, in connection therewith, to pay all necessary expenses, including reasonable attorneys' and legal assistants' fees, and any such sums paid or expended by Lender, plus interest thereon at the rate applicable to Advances hereunder (as specified in the Note), shall be repaid by Borrower to Lender on demand and shall be secured by the Security Documents.
8.1.2. If Lender determines that any work or materials are not in material conformity with the Plans or ordinances, statutes, permits, and regulations, and Lender's security is placed in jeopardy thereby, Lender may stop the work and other replacement or correction regardless of whether such work or materials have theretofore been incorporated into the Improvements.
8.1.3. For the purpose of exercising the rights granted by this Paragraph 8.1, Borrower irrevocably constitutes and appoints Lender its true and lawful attorney-in-fact, with full power of substitution, to execute, acknowledge, and deliver any instruments and to do and perform any acts in the name and on behalf of Borrower.
8.1.4. Any notices under this paragraph shall specify the reason Lender is taking any of the acts and actions authorized under this paragraph.
Additional Rights of Lender. Lender may, from time to time, without notice to Borrower, do any acts which it deems necessary or desirable to preserve the value or marketability of the Collateral, or any part thereof or interest therein, increase the income therefrom or protect the security hereof including, without limitation, any of the following: (a) retain or obtain a security interest in any property, in addition to the Collateral, to secure any of the Obligations, (b) retain or obtain the primary or secondary liability of any party or parties with respect to any of the Obligations, (c) extend or renew for any period, regardless of whether such extension or renewal period be longer than the original period, or exchange, any of the Obligations or release or compromise any Obligations of any party or parties primarily or secondarily liable thereon, (d) release its security interest in all or any property, in addition to the Collateral, securing any of the Obligations, and permit any substitution or exchange for any such property, (e) delay or omit to exercise any right or power with respect to any Obligations, (f) delay in enforcement of payment of indebtedness relating to the Obligations, (g) resort to the Collateral for payment of any of the Obligations, regardless of whether Lender has resorted to any other property, or has proceeded against any party primarily or secondarily liable on any of the Obligations, and (h) make any amendments to any of the Documents.
Additional Rights of Lender. Lender shall have the right to assign Borrower's estate, right, title and interest in the Personal Property assigned to Lender by Borrower under this Security Agreement to any subsequent holder of the Note or any participating interest therein to any Person acquiring title to the Personal Property, or any part thereof, through foreclosure or otherwise. Any subsequent assignee shall have all the rights and powers herein provided to Lender. Lender may take or release other security for the Loan, may release any party preliminarily or secondarily liable therefor and may apply any other security held by Lender to the satisfaction of the Note, without prejudice to any of Lender's rights under this Security Agreement.
Additional Rights of Lender. Lender shall have the right to assign Fields' estate, right, title and interest in the Stock pledged to Lender by Fields under this Stock Pledge Agreement to any subsequent holder of the Note or any participating interest therein to any Person acquiring title to the Stock, any part thereof, through foreclosure or otherwise. Any subsequent assignee shall have all the rights and powers herein provided to Lender. Lender may take or release other security for the Loan, may release any party primarily or secondarily liable therefore and may apply any other security held by Lender to the satisfaction of the Note, without prejudice to any of Lender's rights under this Stock Pledge Agreement.
