Common use of Cross-Collateralization Clause in Contracts

Cross-Collateralization. Without limitation of any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges and agrees that, to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon and (v) all Collateral shall be security for the performance of all of Borrower's obligations hereunder.

Appears in 4 contracts

Samples: Loan Agreement (Lazard Freres Real Estate Investors LLC), Loan Agreement (Lazard Freres Real Estate Investors LLC), Loan Agreement (Lazard Freres Real Estate Investors LLC)

AutoNDA by SimpleDocs

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, upon the occurrence of an Event of Default 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 marshal xxxxxxxx assets, sell any or all of the Collateral in any inverse order of 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 in the and/or any other Loan Documents or 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 Individual Property and all Collateral shall be security for the performance of all of each relevant Borrower's ’s obligations hereunderhereunder and each relevant Borrower’s obligations under all of the other Loan Documents. Each Borrower acknowledges and agrees that it shall be jointly and severally liable for the obligations of all Borrowers under the Loan Documents.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, that upon the occurrence and continuance of an Event of Default Default, (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 marshal xxxxxxxx assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan and (v) all Collateral such Borrower's Facility shall be security for the payment and performance of all obligations of Borrower's all Borrowers hereunder, and (vi) each Borrower shall be jointly and severally liable for payment of the Indebtedness and performance of the obligations hereunderunder the Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Continental Health Affiliates Inc)

Cross-Collateralization. Without limitation of any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, that upon the occurrence of an Event of Default Default, (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 marshal assetsmarsxxxx xxsets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan and (v) all Collateral the Individual Properties shall be security for the performance of all of Borrower's obligations hereunder.hereunder and under the other Loan Documents. 103 99

Appears in 1 contract

Samples: Loan Agreement (Ambassador Apartments Inc)

Cross-Collateralization. Without limitation of any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges FFC and agrees that, to the full extent permitted under applicable law, FOH covenant and agree that upon the occurrence of an Event of Default Default, (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 marshal xxxxxxxx assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan and (v) all Collateral its Individual Properties shall be security for the performance of all obligations of Borrower's obligations hereunderBorrower hereunder and under the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Forum Group Inc)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges and agrees that, to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal xxxxxxxx assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon and (v) all Collateral shall be security for the performance of all of Borrower's obligations hereunder.

Appears in 1 contract

Samples: Loan Agreement (Lf Strategic Realty Investors Ii L P)

Cross-Collateralization. Without limitation of to any ----------------------- other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges and agrees that, to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal xxxxxxxx assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon and (v) all Collateral each Facility shall be security for the performance of all of Borrower's obligations hereunder.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Mezzanine Lender in this Agreement or any of the other Mezzanine Loan Documents, each Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, that upon the occurrence of an Event of Default (i) Mezzanine 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 Mezzanine Lender, in its sole and absolute discretion, shall determine from time to time, (ii) Mezzanine Lender is not required to either marshal xxxxxxxx assets, sell Collateral in any inverse order of alienation, or be subjected to any "one action" or "election of remedies" law or rule, (iii) the exercise by Mezzanine Lender of any remedies against any Collateral will not impede Mezzanine Lender from subsequently or simultaneously exercising remedies against any other Collateral, (iv) all Liens and other rights, remedies and privileges provided to Mezzanine Lender in this Agreement and in the other Mezzanine Loan Documents or otherwise shall remain in full force and effect until Mezzanine Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon and (v) all the Collateral shall be security for the performance of all of Borrower's Borrowers' obligations hereunder.hereunder and under the other Mezzanine Loan Documents. Each Borrower acknowledges and agrees that it shall be jointly and severally liable for the obligations of the other Borrower under the Mezzanine Loan Documents. [Signatures on the following pages]

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Hudson Hotels Corp)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges and agrees that, that to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal xxxxxxxx assets, sell Collateral any of the collateral for the Loan in any inverse order of 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 Collateral of the collateral for the Loan will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateralcollateral for the Loan, (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon and (v) all Collateral of the Properties shall be security for the performance of all of each Borrower's obligations hereunder.

Appears in 1 contract

Samples: Loan Agreement (Ventas Inc)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges and agrees that, that to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal xxxxxxxx assets, sell Collateral any of the collateral for the Loan in any inverse order of 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 Collateral of the collateral for the Loan will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateralcollateral for the Loan, (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon and (v) all of the Mezzanine Properties and Collateral shall be security for the performance of all of each Borrower's obligations hereunder.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ventas Inc)

Cross-Collateralization. Without limitation of any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, that upon the occurrence of an Event of Default Default, (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 marshal xxxxxxxx assets, sell Collateral in any inverse order of 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 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 in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan and (v) all Collateral its Individual Properties shall be security for the performance of all of Borrower's obligations hereunderhereunder and under the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (American Real Estate Investment Corp)

AutoNDA by SimpleDocs

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, each Borrower acknowledges covenants and agrees that, to the full extent permitted under applicable law, upon the occurrence of an Event of Default 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 marshal mxxxxxxx assets, sell any or all of the Collateral in any inverse order of 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 in the and/or any other Loan Documents or 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 Individual Property and all Collateral shall be security for the performance of all of each relevant Borrower's ’s obligations hereunderhereunder and each relevant Borrower’s obligations under all of the other Loan Documents. Each Borrower acknowledges and agrees that it shall be jointly and severally liable for the obligations of all Borrowers under the Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Cross-Collateralization. Without limitation of to any other ----------------------- right or remedy provided to Lender Mortgagee in this Agreement Mortgage or any of the other Loan Documents, Borrower Mortgagor acknowledges and agrees that, to the full extent permitted under applicable law, that (i) upon the occurrence of an Event of Default (i) Lender Default, to the fullest extent permitted by law, Mortgagee 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 LenderMortgagee, in its sole and absolute discretion, shall determine from time to time, (ii) Lender Mortgagee is not required to either marshal xxxxxxxx assets, sell Collateral in any inverse order of alienation, or be subjected to any "one action" or "election of remedies" law or rule, (iii) the exercise by Lender Mortgagee of any remedies against any Collateral will not impede Lender Mortgagee 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 Mortgagee in the other Loan Documents or otherwise shall remain in full force and effect until Lender Mortgagee has exhausted all of its remedies against the Collateral and all Collateral has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan, and (v) all Collateral of the Facilities (as defined in the Loan Agreement) shall be remain security for the performance of all of BorrowerXxxxxxxxx's obligations hereunder, under the Note and under any of the other Loan Documents.

Appears in 1 contract

Samples: Security Agreement (G&l Realty Corp)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement Assignment or any of the other Loan Documents, each Borrower acknowledges and agrees that, to the full extent permitted under applicable law, that (i) upon the occurrence of an Event of Default (i) Default, to the fullest extent permitted by law, 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 marshal xxxxxxxx assets, sell Collateral any collateral for the Loan in any inverse order of 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 Collateral collateral for the Loan will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateral, collateral for the Loan; (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan; and (v) all Collateral of the Properties shall be remain security for the performance of all of Borrower's the obligations of each Borrower hereunder, under the Note and under any of the other Loan Documents.

Appears in 1 contract

Samples: Ventas Inc

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement Security Instrument or any of the other Loan Documents, each Borrower acknowledges and agrees that, to the full extent permitted under applicable law, that (i) upon the occurrence of an Event of Default (i) Default, to the fullest extent permitted by law, 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 marshal xxxxxxxx assets, sell Collateral any collateral for the Loan in any inverse order of 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 Collateral of the collateral for the Loan will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateral, collateral for the Loan; (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan; and (v) all Collateral of the Properties shall be remain security for the performance of all of Borrower's the obligations of each Borrower hereunder, under the Note and under any of the other Loan Documents.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Ventas Inc)

Cross-Collateralization. Without limitation of to any other right or remedy provided to Lender in this Agreement or any of the other Loan Documents, Borrower acknowledges and agrees that, that to the full extent permitted under applicable law, upon the occurrence of an Event of Default (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 marshal assets, sell Collateral any of the collateral for the Loan in any inverse order of 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 Collateral of the collateral for the Loan will not impede Lender from subsequently or simultaneously exercising remedies against any other Collateralcollateral for the Loan, (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon and (v) all Collateral of the Properties shall be security for the performance of all of Borrower's ’s obligations hereunder.

Appears in 1 contract

Samples: Loan Agreement (RFS Partnership Lp)

Cross-Collateralization. Without In accordance with the terms and conditions of the Loan Agreement, without limitation of to any other right or remedy provided to Lender in this Agreement Mortgage or any of the other Loan Documents, Borrower and Operator each acknowledges and agrees that, to the full extent permitted under applicable law, that (i) upon the occurrence of an Event of Default (i) Default, to the fullest extent permitted by law, 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 shall not be required to either marshal xxxxxxxx assets, sell Collateral any collateral for the Loan in any inverse order of 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 Collateral will of the collateral for the Loan shall not impede Lender from subsequently or simultaneously exercising remedies against any other Collateral, collateral for the Loan; (iv) all Liens and other rights, remedies and privileges provided to Lender in this Agreement and in the other Loan Documents or otherwise shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral collateral for the Loan and all Collateral of the collateral for the Loan has been foreclosed, sold and/or otherwise realized upon in satisfaction of the Loan; and (v) all Collateral of the Property shall be remain security for the performance of all of Borrower's ’s and Operator’s obligations hereunder, under the Note and under any of the Loan Documents. Borrower and Operator each acknowledges that Borrower shall be jointly and severally liable for the obligations of the Other Borrowers under the Loan Documents, and Borrower and Operator each consents and agrees to the terms and conditions of all of the Loan Documents (including those to which Borrower and Operator are not a party).

Appears in 1 contract

Samples: Fixture Filing and Security Agreement (BRE Select Hotels Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.