California Waivers. Each Loan Party hereby: (a) expressly waives any and all benefits which might otherwise be available to such Loan Party under California Civil Code Sections 2809, 2810, 2819, 2839, 2845 through 2847, 2849, 2850, 2899 and 3433, and California Code of Civil Procedure Sections 580a, 580b, 580d and 726; (b) acknowledges its understanding that: (i) Section 580d of the California Code of Civil Procedure generally prohibits a deficiency judgment against a borrower after a non-judicial foreclosure; (ii) such Loan Party’s subrogation rights may be destroyed by a non-judicial foreclosure under any mortgage (because such Loan Party may not be able to pursue any other Loan Party for a deficiency judgment by reason of the application of Section 580d of the California Code of Civil Procedure); and
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Samples: Forbearance Agreement (Joe's Jeans Inc.), Forbearance Agreement
California Waivers. Each Loan Party hereby:
(a) expressly waives any and all benefits which might otherwise be available to such Loan Party under California Civil Code Sections 2809, 2810, 2819, 2839, 2845 through 2847, 2849, 2850, 2899 and 3433, and California Code of Civil Procedure Sections 580a, 580b, 580d and 726;
(b) acknowledges its understanding that: (i) Section 580d of the California Code of Civil Procedure generally prohibits a deficiency judgment against a borrower after a non-judicial foreclosure; (ii) such Loan Party’s subrogation rights may be destroyed by a non-judicial foreclosure under any mortgage (because such Loan Party may not be able to pursue any other Loan Party for a deficiency judgment by reason of the application of Section 580d of the California Code of Civil Procedure); andand (iii) under
Appears in 1 contract
Samples: Forbearance Agreement and Amendment to Revolving Credit Agreement (Joe's Jeans Inc.)
California Waivers. Each Loan Credit Party hereby:
(a) expressly waives any and all benefits which might otherwise be available to such Loan Credit Party under California Civil Code Sections 2809, 2810, 2819, 2839, 2845 through 2847, 2849, 2850, 2899 and 3433, and California Code of Civil Procedure Sections 580a, 580b, 580d and 726;
(b) acknowledges its understanding that: (i) Section 580d of the California Code of Civil Procedure generally prohibits a deficiency judgment against a borrower after a non-judicial foreclosure; (ii) such Loan Credit Party’s subrogation rights may be destroyed by a non-judicial foreclosure under any mortgage (because such Loan Credit Party may not be able to pursue any other Loan Credit Party for a deficiency judgment by reason of the application of Section 580d of the California Code of Civil Procedure); andand (iii) under
Appears in 1 contract
