Common use of Application After Event of Default Clause in Contracts

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.6, upon the occurrence of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox Bank and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.66.7.1, upon the occurrence of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox Deposit Bank (including any Gross Revenue) and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations Debt in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds Reserve Funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.6Article 6, upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox on deposit in the Deposit Account with Deposit Bank and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations Debt in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents, but subject to the limitations in Section 6.11.3 of the Mortgage Loan Agreement.

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.66.7.1, upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox Cash Management Bank and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations Debt in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds Reserve Funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.6Article 6, upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox on deposit in the Deposit Account with Deposit Bank and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations Debt in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents, but subject to the limitations set forth in Section 6.11.3 of the Mortgage Loan Agreement.

Application After Event of Default. Notwithstanding anything to the contrary contained in this Section 2.62.7, upon after the occurrence and during the continuance of an Event of Default, Lender, at its option, may withdraw the Reserve Funds and any other funds of Borrower then in the possession of Lender, Servicer or Lockbox Bank and apply such funds to the items for which the Reserve Funds were established or to the payment of the Obligations in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply any of the foregoing funds shall be in addition to all other rights and remedies provided to Lender under the Loan Documents.