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.