Cross Default and Cross Collateralization. (a) Cross-Default. As stated under Section 10.1 hereof, an Event of Default under any of the Affiliated Financing Documents shall be an Event of Default under this Agreement. In addition, a Default or Event of Default under any of the Financing Documents shall be a Default under the Affiliated Financing Documents.
Cross Default and Cross Collateralization. Any Event of Default under the terms of the Loan shall constitute and hereby is declared to be an immediate and absolute default under the terms of all loans between Lender and Borrower. Should an event of default occur under the terms of any of said loans, which event is subject to notice and cure periods, if any, failure to cure such event of default within such curative period shall constitute an immediate default under this Loan and all such other loans owed by Borrower to Lender, Each of the foregoing loans between Lender and Borrower shall also be cross-collateralized, whether such loans are now existing or hereafter entered into between Lender and Borrower at any time.
Cross Default and Cross Collateralization. It is the express intention and agreement of Borrower and Bank that any and all existing and future obligations, liabilities and indebtedness now or hereafter owing by Borrower to Bank (including the Revolver Note, and Letter of Credit Exposure and any Hedge Agreement) be and continuously remain cross-defaulted and cross-collateralized to the fullest extent permitted by applicable law with any and all other existing or future obligations, liabilities and indebtedness of Borrower to Bank or of Borrower to the Swap Counterparty.
Cross Default and Cross Collateralization. In consideration of the benefits to Borrowers from the Loan, the receipt and sufficiency of which are hereby acknowledged, Borrowers agree as follows:
(a) The occurrence of any Security Instrument Default shall be an Event of Default under this Agreement.
(b) Each Borrower acknowledges and agrees that because each of the Security Instruments secures the entire Loan and a Security Instrument Default with respect to any Facility will be an Event of Default under this Agreement, each Borrower has a direct and material interest in preventing the occurrence of an Event of Default. Accordingly each Borrower is willing to commit to make or receive loans (each an "Intra-Party Loan" and collectively, the "Intra-Party Loans") in order to provide for the payment of all amounts due under the Loan Documents and, in so doing, to avoid an Event of Default hereunder. Borrowers each acknowledge and agree that Lender is an intended third party beneficiary of Borrowers' obligations hereunder. If and to the extent that net revenues from any Facility (herein, a “Contributing Facility”) are applied to make payments on the Loan in excess of the payments due on the Allocated Loan Amount with respect to the Contributing Facility, the Borrower who owns the Contributing Facility shall be deemed to have made an Intra-Party Loan to the other Borrowers (proportionate to their respective Allocated Loan Amounts) in the amount of such proceeds so applied.
(c) All Intra-Party Loans deemed to be made under this Agreement shall be evidenced by this Agreement, shall be an obligation of the party which owes such Intra-Party Loan to the party making same solely by its execution of this Agreement, shall not be evidenced by any separate instrument and, notwithstanding anything contained herein or in the other Loan Documents to the contrary, shall not be prohibited hereunder or under any of the other Loan Documents. Each Borrower waives presentment, notice of dishonor, protest and notice of non-payment or non-performance with respect to each Intra-Party Loan for which it is liable under this Agreement. Intra-Party Loans shall be subject and subordinate in all cases to the terms, conditions and liens of the Loan Documents, and revenues from the other Facilities shall be the sole and exclusive source of payment of any Intra-Party Loan. Intra-Party Loans may be repaid in whole or in part provided there is then no Default or Event of Default and no Default or Event of Default would result from such re...
Cross Default and Cross Collateralization. 1. For Mortgage Loans that are cross-defaulted and cross-collateralized and a single Note evidences the Mortgage Loan secured by Security Instruments on two (2) or more Mortgaged Properties:
(a) Modifications to Multifamily Loan and Security Agreement (Cross- Collateralization: Single Note) (6204).
(b) Modifications to Security Instrument (Cross-Collateralization: Single Note) (6306).
2. For Mortgage Loans that are cross-defaulted and cross-collateralized and are evidenced by separate Notes:
(a) Modifications to Multifamily Loan and Security Agreement (Cross-Default and Cross-Collateralization: Multi-Note) (6203).
(b) Modifications to Security Instrument (Cross-Default and Cross- Collateralization: Multi-Note) (6305).
Cross Default and Cross Collateralization. Borrower and Guarantor acknowledge that the Deeds of Trust are collateral for the entire Loan, and the occurrence of a default under any of the Deeds of Trust or any of the Loan Documents will comprise a default under all of the Deeds of Trust and Loan Documents.
Cross Default and Cross Collateralization. A default in the payment or performance of Borrower's obligations under this Second Amendment will constitute an Event of Default under the Loan Agreement and in such event Lender will be entitled to exercise any and all remedies available thereunder. Lender and Borrower further agree that the Security Documents securing the Loan Agreement are hereby modified so that the Security Documents will continue to secure the Loan Agreement as amended by this Second Amendment.
Cross Default and Cross Collateralization. This Note is cross-defaulted and cross-collateralized with the other Loans as defined in the Loan Agreement.
Cross Default and Cross Collateralization. Borrower and Guarantor acknowledge that the Security Instruments, including the New Security Instrument, are Collateral for the entire Loan, and the occurrence of a default under any of the Security Instruments, including the New Security Instrument, or any of the Loan Documents will comprise a default under all of the Security Instruments, including the New Security Instrument, and other Loan Documents.
Cross Default and Cross Collateralization. The Security Documents are hereby amended to provide that an Event of Default with respect to any Loan shall be an Event of Default with respect to all Loans, and upon the occurrence of an Event of Default, Dealer shall have the right to exercise any and all remedies granted to Dealer under the Security Documents in accordance with the terms and conditions of such Security Documents. The collateral securing each of the Loans shall secure all the other Loans.
