Common use of Curing Clause in Contracts

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights, if any, as the sole member of Mortgage Borrower under the Mortgage Borrower Operating Agreement, to cause Mortgage Borrower (i) to cure a Mortgage Loan Event of Default and (ii) to satisfy any liens, claims or judgments against the Property if the same has resulted in a Mortgage Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender in exercising rights under this Section 4.26 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender under the Mortgage Loan Documents against the Property and Mortgage Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by Lender.

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rightsrights under the Mezzanine A Borrower Operating Agreement, if any, as the sole member of Mezzanine A Borrower, in its capacity as the sole member of Mortgage Borrower under the Mortgage Borrower Operating AgreementBorrower, to cause Mortgage Borrower (i) to cure a Mortgage Loan Event of Default, (ii) to cure a Mezzanine A Loan Event of Default and (iiiii) to satisfy any liens, claims or judgments against (x) the Property if the same has resulted in a Mortgage Loan Event of Default and (y) the Mezzanine A Collateral if the same has resulted in a Mezzanine A Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender in exercising rights under this Section 4.26 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan and/or the Mezzanine A Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender and Mezzanine A Lender, as applicable, under the Mortgage Loan Documents and the Mezzanine A Loan Documents against the Property Property, the Mezzanine A Collateral, Mezzanine A Borrower and Mortgage Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event Default and any Mezzanine A Loan Event Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents or to Mezzanine A Borrower under the Mezzanine A Loan Documents, as applicable, shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by Lender.

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights, if any, as the sole member of Mortgage Borrower under the Mortgage Borrower Operating Agreement, to cause Mortgage Borrower (i) to cure a Mortgage Loan Event of Default and (ii) to satisfy any liens, claims or judgments against the Property if the same has resulted in a Mortgage Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender Lxxxxx in exercising rights under this Section 4.26 4.30 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender Administrative Agent under the Mortgage Loan Documents against the Property and Mortgage Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event of Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by Lender.. 103

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights, if any, as the sole member of Mezzanine A Borrower, which is the sole member of Mortgage Borrower under the Mortgage Borrower Operating AgreementBorrower, to cause Mezzanine A Borrower and/or Mortgage Borrower Borrower, as applicable (i) to cure a Mortgage Loan Event of Default and/or a Mezzanine A Loan Event of Default and (ii) to satisfy any liens, claims or judgments against (x) the Property if the same has resulted in a Mortgage Loan Event of Default and/or (y) the Mezzanine A Collateral if the same has resulted in a Mezzanine A Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender Xxxxxx in exercising rights under this Section 4.26 4.30 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan and/or the Mezzanine A Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender under the Mortgage Loan Documents and/or Mezzanine A Lender under the Mezzanine A Loan Documents, as applicable, against the Property Property, the Mezzanine A Collateral, Mortgage Borrower and Mortgage Mezzanine A Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event of Default and/or Mezzanine A Loan Event of Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents or Mezzanine A Borrower under the Mezzanine A Loan Documents, as applicable, shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by LenderXxxxxx.

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights, if any, as the sole member of Mortgage Borrower under the Mortgage Borrower Operating Agreement, to cause Mortgage Borrower (i) to cure a Mortgage Loan Event of Default and (ii) to satisfy any liens, claims or judgments against the Property if the same has resulted in a Mortgage Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender Xxxxxx in exercising rights under this Section 4.26 4.30 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender under the Mortgage Loan Documents against the Property and Mortgage Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event of Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by Lender.

Curing. (a) Upon the occurrence and during the continuance of an Event of Default, Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights, if any, as the sole member of Mortgage Borrower under the Mortgage Borrower Operating Agreement, to cause Mortgage Borrower (i) to cure a Mortgage Loan Event of Default and (ii) to satisfy any liens, claims or judgments against the Property if the same has resulted in a Mortgage Loan Event of Default. All sums so paid and the costs and expenses incurred by Lender Lxxxxx in exercising rights under this Section 4.26 4.33 (including reasonable attorneys’ fees) (v) shall constitute additional advances of the Loan to Borrower, (w) shall increase the then unpaid principal, (x) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (y) shall constitute a portion of the Debt, and (z) shall be secured by the Loan Documents. In the event that Lender makes any payment in respect of the Mortgage Loan in connection with the exercise of its rights pursuant to this Section, Lender shall be subrogated to all of the rights of Mortgage Lender under the Mortgage Loan Documents against the Property and Mortgage Borrower to the extent of such payment, without limitation to any other rights Lender may have under the Loan Documents or applicable law. Notwithstanding the foregoing, unless and to the extent Lender has foreclosed on the Collateral pursuant to the Pledge Agreement and/or other Security Documents, any Mortgage Loan Event of Default which is not cured prior to the expiration of any applicable grace, notice or cure period afforded to Mortgage Borrower under the Mortgage Loan Documents shall constitute an Event of Default hereunder, without regard to any subsequent payment or performance of any such obligations by Lender.. 106