Common use of Cross-Collateralization; Waiver of Marshalling of Assets Clause in Contracts

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge that the Lenders have made the Loans to the Borrowers upon, among other things, the security of their collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Property taken separately. Accordingly, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgage Documents shall constitute an Event of Default under each of the other Mortgage Documents; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note and all Obligations as described therein; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the Borrowers, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage Document, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party under the Loan Documents to a sale of the Properties for the collection of the Obligations without any prior or different resort for collection or of the right of any Secured Party to the payment of the Obligations out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the Borrowers, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage Documents, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party to exhaust its remedies against any Property or any combination of the Properties before proceeding against any other Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. Accordingly, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Administrative Agent and/or Lenders under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Administrative Agent and Lenders to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersBorrower, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Administrative Agent or Lenders to exhaust its their remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyAdministrative Agent on behalf of Lenders, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge that the Lenders have made the Loans to the Borrowers upon, among other things, the security of their collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Property taken separately. Accordingly, each Each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may any Mortgages will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence and during the continuance of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Financed Property or Financed Single Plat Development or any particular Borrower; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note promissory note issued pursuant to Section 2.01(g) and all Obligations as described thereinif a single blanket lien were placed on all of the Financed Properties and Financed Single Plat Developments as security for such notes and Obligations; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the Borrowers, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the PropertiesFinanced Properties and Financed Single Plat Developments, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party under the Loan Documents to a sale of the Financed Properties or Financed Single Plat Developments for the collection of the Obligations without any prior or different resort for collection or of the right of any Secured Party to the payment of the Obligations out of the net proceeds of the Financed Properties or Financed Single Plat Developments in preference to every other claimant whatsoever. In addition, each of the Borrowers, for itself and its successors and assigns, waives waives, to the extent permitted by law, in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Financed Properties or Financed Single Plat Developments or require any Secured Party to exhaust its remedies against any Financed Property or Financed Single Plat Development or any combination of the Financed Properties and/or Financed Single Plat Developments before proceeding against any other Property Property, Single Plat Development or combination of PropertiesFinanced Properties and/or Financed Single Plat Developments; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the PropertiesFinanced Properties and Financed Single Plat Developments.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge that the Lenders have made the Loans to the Borrowers upon, among other things, the security of their collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Property taken separately. Accordingly, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may be cross-collateralized and cross-defaulted with each other so that (i) an Event of Default under any of the Mortgage Documents shall constitute an Event of Default under each of the other Mortgage Documents; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note and all Obligations as described therein; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the Borrowers, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage Document, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party under the Loan Documents to a sale of the Properties for the collection of the Obligations without any prior or different resort for collection or of the right of any Secured Party to the payment of the Obligations out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the Borrowers, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage Documents, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party to exhaust its remedies against any Property or any combination of the Properties before proceeding against any other Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the Properties. [Remainder of page intentionally blank.]

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Lender has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. AccordinglySubject to Section 9.1.2, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Lender under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Lender to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersBorrower, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Lender to exhaust its remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyLender, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Lender has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. AccordinglySubject to Section 9.1.2, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization crosscollateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Lender under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Lender to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersBorrower, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Lender to exhaust its remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyLender, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Lender has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Mortgaged Properties and in reliance upon the aggregate of the Mortgaged Properties taken together being of greater value as collateral security than the sum of each Property the Mortgaged Properties taken separately. Accordingly, each Borrower agrees that each Mortgage creates a single blanket Lien encumbering all of the Mortgage Documents, in the Administrative Agent’s sole discretion, may be cross-collateralized and cross-defaulted with each other Mortgaged Properties so that (i) an Event of Default under any of the one Mortgage Documents shall constitute with respect to any Mortgaged Property constitutes an Event of Default under each the Mortgages with respect to all of the other Mortgage Documents; Mortgaged Properties and (ii) an Event of Default under the Note or this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note and all Obligations as described therein; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyanceMortgage. (b) To the fullest extent permitted by lawBorrower may legally do so, each of the Borrowers, for itself and its successors and assigns, Borrower waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners 's partners, if any, and others with interests in such Borrower, and of the Mortgaged Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage Documentthe interests hereby created, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Lender under the Loan Documents to a sale of the Mortgaged Properties for the collection of the Obligations related Debt without any prior or different resort for collection or collection, of the right of Lender or any Secured Party deed of trust trustee to the payment of the Obligations related Debt out of the net proceeds of the Properties any Mortgaged Property in preference to every other claimant whatsoever. In addition, each of the BorrowersBorrower, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such the Borrower which would require the separate sale of the Properties or require any Secured Party to exhaust its remedies against any Property or any combination portions of the Properties before proceeding against any other Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the Mortgaged Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge that the Lenders have made the Loans to the Borrowers upon, among other things, the security of their collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Property taken separately. Accordingly, each Each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may any Mortgages will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence and during the continuance of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Financed Property or Financed Single Plat Development or any particular Borrower; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note promissory note issued pursuant to Section 2.01(g) and all Obligations as described thereinif a single blanket lien were placed on all of the Financed Properties and Financed Single Plat Developments as security for such notes and Obligations; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance.. ​ (b) To the fullest extent permitted by law, each of the Borrowers, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the PropertiesFinanced Properties and Financed Single Plat Developments, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party under the Loan Documents to a sale of the Financed Properties or Financed Single Plat Developments for the collection of the Obligations without any prior or different resort for collection or of the right of any Secured Party to the payment of the Obligations out of the net proceeds of the Financed Properties or Financed Single Plat Developments in preference to every other claimant whatsoever. In addition, each of the Borrowers, for itself and its successors and assigns, waives waives, to the extent permitted by law, in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Financed Properties or Financed Single Plat Developments or require any Secured Party to exhaust its remedies against any Financed Property or Financed Single Plat Development or any combination of the Financed Properties and/or Financed Single Plat Developments before proceeding against any other Property Property, Single Plat Development or combination of PropertiesFinanced Properties and/or Financed Single Plat Developments; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the Properties.Financed Properties and Financed Single Plat Developments. ​

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Xxxxxx has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. AccordinglySubject to Section 9.1.2, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Lender under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Lender to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersXxxxxxxx, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Lender to exhaust its remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyLender, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Xxxxxx has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. AccordinglySubject to Section 9.1.2, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such BorrowerXxxxxxxx’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Lender under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Lender to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersXxxxxxxx, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Lender to exhaust its remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyLender, the foreclosure and sale either separately or together of any combination of the Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge that the Lenders have made the Loans to the Borrowers upon, among other things, the security of their collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Property taken separately. Accordingly, each Each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence and during the continuance of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Financed Property or any particular Borrower; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each Note promissory note issued pursuant to Section 2.01(f) and all Obligations as described thereinif a single blanket lien were placed on all of the Financed Properties as security for such notes and Obligations; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the Borrowers, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such Borrower, such Borrower’s partners and others with interests in such Borrower, and of the Financed Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage Document, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party under the Loan Documents to a sale of the Financed Properties for the collection of the Obligations without any prior or different resort for collection or of the right of any Secured Party to the payment of the Obligations out of the net proceeds of the Financed Properties in preference to every other claimant whatsoever. In addition, each of the Borrowers, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage Documents, any equitable right otherwise available to such Borrower which would require the separate sale of the Financed Properties or require any Secured Party to exhaust its remedies against any Financed Property or any combination of the Financed Properties before proceeding against any other Property or combination of Financed Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured Party, the foreclosure and sale either separately or together of any combination of the Financed Properties.

Cross-Collateralization; Waiver of Marshalling of Assets. (a) The Borrowers acknowledge Borrower acknowledges that the Lenders have Xxxxxx has made the Loans Loan to the Borrowers upon, among other things, Borrower upon the security of their its collective interest in the Properties and in reliance upon the aggregate of the Properties taken together being of greater value as collateral security than the sum of each Individual Property taken separately. AccordinglySubject to Section 9.1.2, each Borrower agrees that the Mortgage Documents, in the Administrative Agent’s sole discretion, may Mortgages are and will be cross-collateralized and cross-defaulted with each other so that (i) an upon the occurrence of any Event of Default under any Default, an event of the Mortgage Documents default shall constitute an Event of Default be deemed to have occurred under each of the other Mortgage DocumentsMortgages regardless of whether the event constituting such Event of Default related to any particular Individual Property; (ii) an Event of Default under this Agreement shall constitute an Event of Default under each Mortgage Document; (iii) each Mortgage Document shall constitute security for each the Note and as if a single blanket lien were placed on all Obligations of the Properties as described thereinsecurity for the Note; and (iviii) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) To the fullest extent permitted by law, each of the BorrowersBorrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of such BorrowerXxxxxxxx, such BorrowerXxxxxxxx’s partners and others with interests in such Borrower, and of the Properties, or to a sale in inverse order of alienation in the event of foreclosure of any Mortgage DocumentMortgage, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of any Secured Party Administrative Agent or Lender under the Loan Documents to a sale of the Properties for the collection of the Obligations Debt without any prior or different resort for collection or of the right of any Secured Party Administrative Agent, on behalf of Xxxxxx, to the payment of the Obligations Debt out of the net proceeds of the Properties in preference to every other claimant whatsoever. In addition, each of the BorrowersXxxxxxxx, for itself and its successors and assigns, waives in the event of foreclosure of any or all of the Mortgage DocumentsMortgages, any equitable right otherwise available to such Borrower which would require the separate sale of the Properties or require any Secured Party Administrative Agent to exhaust its remedies against any Individual Property or any combination of the Properties before proceeding against any other Individual Property or combination of Properties; and further in the event of such foreclosure such Borrower does hereby expressly consent to and authorize, at the option of the applicable Secured PartyAdministrative Agent, the foreclosure and sale either separately or together of any combination of the Properties.. Section