Common use of Cure by Administrative Agent Clause in Contracts

Cure by Administrative Agent. Without any obligation to do so, cure any Event of Default hereunder and cure any default and render any performance under any Project Documents as the Majority Lenders in their sole discretion may consider necessary or appropriate, whether to preserve and protect the Collateral or the Secured Parties’ interests therein or for any other reason, and all sums so expended, together with interest on such total amount at the Default Rate (but in no event shall the rate exceed the maximum lawful rate), shall be repaid by Borrower to Administrative Agent on demand and shall be secured by the Financing Documents as if such amounts were Loans, notwithstanding that such expenditures may, together with amounts advanced under this Financing Agreement, exceed the amount of the Total Commitment.

Cure by Administrative Agent. Without any obligation to do so, make disbursements or Loans to or on behalf of Borrower to cure any Event of Default hereunder and to cure any default and render any performance under any Project Documents as the Majority Lenders in their sole discretion may consider necessary or appropriate, whether to preserve and protect the Collateral or the Secured PartiesLenders’ interests therein or for any other reason, and all sums so expended, together with interest on such total amount at the Default Rate (but in no event shall the rate exceed the maximum lawful rate)Rate, shall be repaid by Borrower to Administrative Agent on demand and shall be secured by the Financing Documents as if such amounts were LoansDocuments, notwithstanding that such expenditures may, together with amounts advanced under this Financing Agreement, exceed the amount of the Total Construction Loan Commitment.

Cure by Administrative Agent. Without any obligation to do so, make disbursements or Loans to or on behalf of Borrower to cure any Event of Default hereunder and to cure any default and render any performance under any Project Documents as the Majority Lenders in their sole discretion may consider necessary or appropriate, whether to preserve and protect the Collateral or the Secured PartiesLenders’ interests therein or for any other reasontherein, and all sums so expended, together with interest on such total amount at the Default Rate (but in no event shall the rate exceed the maximum lawful rate)Rate, shall be repaid by Borrower to Administrative Agent on demand and shall be secured by the Financing Documents as if such amounts were LoansDocuments, notwithstanding that such expenditures may, together with amounts advanced under this Financing Agreement, exceed the amount of the Total Construction Loan Commitment.