Borrower’s Remedies. In the event of any Default involving Lender or an Account under Section 11 hereof, Borrower shall have the right, in addition to any other remedies provided herein or under applicable law (without further notice to Lender) to sell (or be deemed to have sold) a like amount of the Loaned Securities in the principal market for such securities in a commercially reasonable manner on the day of the Default and to retain (or be deemed to have realized) the proceeds of such sale. In such event, Borrower may treat the Loaned Securities as its own and Lender’s obligation to return the Collateral consisting of cash or securities shall terminate. In the event the sales price received (or deemed to have been received) from such securities is less than the market value of the Collateral consisting of cash or securities on the date of sale (or deemed sale), the Account which defaulted on the Loan shall be liable to Borrower for the amount of any deficiency (plus all amounts, if any, due to Borrower hereunder), together with interest on all such amounts, in the case of Collateral consisting of Foreign Securities, at a per annum rate equal to LIBOR plus 2%, and in the case of Collateral consisting of any other securities (or other amounts due, if any, to Borrower hereunder), at a per annum rate equal to the Fed Funds Rate plus 2%, as it fluctuates from day to day, from the date of such sale until the date of payment of such deficiency. Borrower shall have, as security for the Account’s obligation to pay such deficiency, a security interest in or right of setoff against any property of the Account then held by Borrower pursuant to this Agreement and any other amount payable by Borrower to Lender in respect of such Account arising hereunder. In calculating this deficiency, there shall be deducted from the proceeds of the securities sold under this Section 13, broker’s fees and commissions and all other reasonable costs, fees and expenses related (or deemed related) to such sale or exercise of remedies including, without limitation, reasonable legal fees and expenses. Upon the satisfaction of all the Account’s obligations hereunder, any remaining Loaned Securities (or remaining net cash proceeds from sale or deemed sale thereof) shall be returned to Lender. Where Collateral consists of a letter of credit, Lender, upon the exercise or deemed exercise by Borrower of its termination rights under Section 11, shall immediately return the letter of credit to Borrower and not seek ...
Borrower’s Remedies. Nothing contained in this Article shall be construed to release the Issuer from the performance of any of its agreements in this Agreement, and, if the Issuer should fail to perform any such agreement, the Borrower may institute such action against the Issuer as the Borrower may deem necessary to compel the performance, so long as such action shall not violate the Borrower’s agreements in Section 3.05
Borrower’s Remedies. The rights and remedies against a Defaulting Bank under this Agreement, including without limitation this Section 2.3 and Section 2.2 hereof, are in addition to other rights and remedies that the Borrower may have against such Defaulting Bank with respect to any Loan or unpaid Reimbursement Obligation which such Defaulting Bank has not funded, and that the Agent or any Bank may have against such Defaulting Bank with respect to any such Loan or Reimbursement Obligation.
Borrower’s Remedies. Upon the occurrence of a Default under Section 11 entitling Borrower to terminate all Loans hereunder, Borrower shall have the right (without further notice to Lender), in addition to any other remedies provided herein or under applicable law, (a) to purchase a like amount of Collateral ("Replacement Collateral") in the principal market for such Collateral in a commercially reasonable manner, (b) to sell a like amount of the Loaned Securities in the principal market for such securities in a commercially reasonable manner and (c) to apply and set off the Loaned Securities and any proceeds thereof against (i) the payment of the purchase price for such Replacement Collateral
Borrower’s Remedies. Nothing contained in this Article shall be construed to release the Issuer from the performance of any of its agreements herein, and if the Issuer should fail to perform any such agreements, the Borrower may institute such action against the Issuer as the Borrower may deem necessary to compel such performance so long as such action shall not violate the Borrower’s agreements in Section 4.4 hereof or diminish or delay the amounts required to be paid by the Borrower pursuant to Section 4.2 hereof. The Borrower acknowledges, however, and agrees that any pecuniary obligation of the Issuer created by or arising out of this Loan Agreement shall be payable solely out of the proceeds derived from this Loan Agreement and the sale of the Subordinate Bonds.
Borrower’s Remedies. Nothing contained in this Article 3 shall be construed to release the City from the performance of any of its agreements in this Agreement, and if the City should fail to perform any such agreement, the Borrower may, subject to the limitations of the Act and Section 7.06 hereof, institute such action against the City as the Borrower may deem necessary to compel performance, so long as such action shall not violate the Borrower’s agreements in Section 3.04 hereof.
Borrower’s Remedies. No action, suit or proceeding may be initiated or commenced by Borrower or any Guarantor against Lender under the terms of this Agreement or by reason of any conduct or omission in any way related to this Agreement unless Lender receives written notice from Borrower or such Guarantor specifically setting forth the claim of Borrower or Guarantor within thirty (30) days after Borrower or Guarantor discover or should have discovered the event or occurrence which Borrower or Guarantor assert gave rise to such claim. Moreover, in any event, Lender shall never be liable to Borrower or any Guarantor for consequential or exemplary damages, whatever the nature of the alleged breach by Lender of the obligations of Lender hereunder.
Borrower’s Remedies. (a) If the Borrower shall seek the approval by or the consent of any Agent or Lender under this Agreement or under any other Loan Documents and such Agent or Lender shall fail or refuse to give such consent or approval then Borrower shall not be entitled to any damages for any withholding or delay of such approval or consent by such Agent or Lender, it being intended that Borrower's sole remedy shall be to bring an action for an injunction or specific performance, which remedy or injunction or specific performance shall be available only in those cases where the Agent or Lender in question has expressly agreed under the Loan Document in question not to unreasonably withhold or delay its consent or approval.
(b) In no event shall Borrower seek, receive or recover punitive damages against any Lender or Agent in connection with any suit, action, claim or proceeding against any Lender or Agent.
Borrower’s Remedies. Upon the occurrence of a Default under Section 11 entitling Borrower to terminate all Loans hereunder, Borrower shall have the right (without further notice to Lender), in addition to any other remedies provided herein or under applicable law, (a) to purchase a like amount of Collateral ("Replacement Collateral") in the principal market for such Collateral in a commercially reasonable manner, (b) to sell a like amount of the Loaned Securities in the principal market for such securities in a commercially reasonable manner and (c) to apply and set off the Loaned Securities and any proceeds thereof against (i) the payment of the purchase price for such Replacement Collateral, (ii) Lender's obligation to return any cash or other Collateral and (iii) any amounts due to Borrower under Sections 4, 7 and 17. In such event, Borrower may treat the Loaned Securities as its own and Lender's obligation to return a like amount of the collateral shall terminate; provided, however, that Lender shall immediately return any letters of credit supporting any Loan upon the exercise or deemed exercise by Borrower of its termination rights under Section 11. Borrower may similarly apply the Loaned Securities and any proceeds thereof to any other obligation of Lender under this Agreement, including Lender's obligations with respect to distributions paid to Lender (and not forwarded to Borrower) in respect of Collateral. In the event that (i) the sales price received from such Loaned Securities is less than (ii) the purchase price of Replacement Collateral (plus the amount of any cash or other
Borrower’s Remedies. Nothing contained in this Article shall be construed to release the Issuer from the performance of any of its agreements herein or to be a waiver of any of Borrower’s rights, claims or causes of action as would otherwise exist, and if the Issuer should fail to perform any such agreements, the Borrower may institute such action against the Issuer as the Borrower may deem necessary to compel such performance so long as such action shall not violate the Borrower’s agreements in Section 4.5 or diminish or delay the amounts required to be paid by the Borrower pursuant to Sections 4.2, 4.3 and 4.
