Common use of Contributions and Waivers Clause in Contracts

Contributions and Waivers. (c) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its Obligations and in consideration therefore each Borrower desires to enter into an 00000000.0.XXXXXXXX 181 allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, and for purposes of this Section, includes any exercise of recourse by Lender against any collateral of a Borrower and application of proceeds of such collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 1 contract

Samples: Mezzanine D Loan Agreement (Ashford Hospitality Trust Inc)

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Contributions and Waivers. (cA) As a result of the transactions contemplated by this AgreementAgreement and the other Loan Documents, each Individual Borrower will benefit, directly and indirectly, from each Individual Borrower’s obligation to pay the Debt and perform its the Obligations and in consideration therefore each Individual Borrower desires to enter into an 00000000.0.XXXXXXXX 181 allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Individual Borrowers in the event any payment is made by any individual Individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this Section, includes any exercise of recourse by Lender against any collateral Individual Property of a any Individual Borrower and application of proceeds of such collateral Individual Property in satisfaction of such Individual Borrower’s obligations, obligations to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust II, Inc.)

Contributions and Waivers. (ca) As a result of the transactions contemplated by this Agreement, each Individual Borrower will benefit, directly and indirectly, from each other Individual Borrower’s obligation to pay the Debt and perform its Obligations and and, in consideration therefore therefor, each Individual Borrower desires to enter into an 00000000.0.XXXXXXXX 181 allocation and contribution agreement among themselves as set forth in this Section 10.30 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Individual Borrowers in the event any payment is made by any individual Individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this SectionSection 10.30, includes any exercise of recourse by Lender against any collateral of a any Individual Borrower and application of proceeds of such collateral in satisfaction of such Individual Borrower’s obligations, obligations to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Global Net Lease, Inc.)

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Contributions and Waivers. (ca) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each other Borrower’s 's obligation to pay the Debt and perform its Obligations and in consideration therefore therefor each Borrower desires to enter into an 00000000.0.XXXXXXXX 181 allocation and contribution agreement among themselves the Borrowers as set forth in this Section 9.6 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a "Contribution”, ," and for purposes of this SectionSection 9.6, includes any exercise of recourse by Lender against any collateral Collateral of a Borrower and application of proceeds of such collateral Collateral in satisfaction of such Borrower’s obligations, 's obligations to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Felcor Lodging Trust Inc)

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