Cross Collateralization Within Pool; Contribution Clause Samples

Cross Collateralization Within Pool; Contribution. (a) Each Pool 3 Borrower acknowledges that Lender is making Loan 3 to the Pool 3 Borrowers upon the security of its collective interest in the Pool 3 Properties and in reliance upon the aggregate of the Pool 3 Properties taken together being of greater value as collateral security than the sum of each Pool 3 Property taken separately. Each Pool 3 Borrower agrees that each Mortgage of a Pool 3 Property is and will be cross-collateralized and cross- defaulted with each other Mortgage of a Pool 3 Property so that (i) an Event of Default which continues beyond the expiration of any applicable notice and cure periods under any of such Mortgages shall constitute an Event of Default under each of the other such Mortgages securing the related Note; (ii) an Event of Default which continues beyond the expiration of any applicable notice and cure periods under the related Loan Agreement or this Agreement shall constitute an Event of Default under each such Mortgage; (iii) each such Mortgage shall constitute security for the related Note as if a single blanket lien were placed on all of the Pool 3 Properties as security for Note 3; and (iv) such cross-collateralization shall in no event be deemed to constitute a fraudulent conveyance. (b) Without limitation to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Pool 3 Borrower covenants and agrees that (i) Lender shall have the right to pursue all of its rights and remedies in one proceeding, or separately and independently in separate proceedings which it, as Lender, in its sole and absolute discretion, shall determine from time to time, (ii) Lender is not required to either m▇▇▇▇▇▇▇ assets, sell any or all of the Collateral in any inverse order or alienation, or be subjected to any “one action” or “election of remedies” law or rule, (iii) the exercise by Lender of any remedies against any of the Collateral will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateral, (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and/or any other Loan Documents otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all the Collateral has been foreclosed, sold and/or otherwise realized upon and (v) each Pool 3 Property and all Collateral as defined in Loan Agreement 3 shall be security for the performance of all each Pool 3 ...