Common use of Deed of Trust to be Absolute Clause in Contracts

Deed of Trust to be Absolute. Grantor expressly agrees that until the earlier of (i) the release and reconveyance of this Deed of Trust in accordance with Section 9.29 of the Loan Agreement, or (ii) the date that the Third Party Secured Obligations are paid and performed in full, and each and every term, covenant and condition of this Deed of Trust is fully performed, Grantor shall not be released by or because of: (a) Any act or event which might otherwise discharge, reduce, limit or modify Grantor’s obligations under this Deed of Trust; (b) Any waiver, extension, modification, forbearance, delay or other act or omission of Beneficiary, or the failure by Beneficiary to proceed promptly or otherwise against any Borrower, Grantor or any security; (c) Any action, omission or circumstance which might increase the likelihood that Grantor may be called upon to perform under this Deed of Trust or which might affect the rights or remedies of Grantor against any Borrower; or (d) Any Borrower becoming insolvent or subject to any bankruptcy or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships (an “Insolvency Proceeding”) and as a result thereof some or all of the Third Party Secured Obligations being terminated, rejected, discharged, modified or abrogated. This Deed of Trust shall remain in full force and effect without regard to, and shall not be affected or impaired, by any invalidity, irregularity or unenforceability, in whole or in part (including with respect to any netting provision) of any Loan Document or Swap Contract or any limitation on the liability of any Borrower thereunder or any limitation on the method or terms of payment thereunder which may now or in the future be caused or imposed in any manner whatsoever. Grantor hereby acknowledges that absent this Section 10.3, Grantor might have a defense to the enforcement of this Deed of Trust as a result of one or more of the foregoing acts, omissions, agreements, waivers or matters. Grantor hereby expressly waives and surrenders any defense to any liability under this Deed of Trust based upon any of such acts, omissions, agreements, waivers or matters. It is the express intent of Grantor that Grantor’s obligations under this Deed of Trust are and shall be absolute, unconditional and irrevocable.

Deed of Trust to be Absolute. Grantor expressly agrees that until the earlier of (i) the release and reconveyance of this Deed of Trust in accordance with Section 9.29 2.6 of the Loan Agreement, or (ii) the date that the Third Party Secured Obligations are paid and performed in full, and each and every term, covenant and condition of this Deed of Trust is fully performed, Grantor shall not be released by or because of: (a) Any act or event which might otherwise discharge, reduce, limit or modify Grantor’s obligations under this Deed of Trust; (b) Any waiver, extension, modification, forbearance, delay or other act or omission of Beneficiary, or the failure by Beneficiary to proceed promptly or otherwise against any Borrower, Grantor or any security; (c) Any action, omission or circumstance which might increase the likelihood that Grantor may be called upon to perform under this Deed of Trust or which might affect the rights or remedies of Grantor against any Borrower; or (d) Any Borrower becoming insolvent or subject to any bankruptcy or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships (an “Insolvency Proceeding”) and as a result thereof some or all of the Third Party Secured Obligations being terminated, rejected, discharged, modified or abrogated. This Deed of Trust shall remain in full force and effect without regard to, and shall not be affected or impaired, by any invalidity, irregularity or unenforceability, in whole or in part (including with respect to any netting provision) of any Loan Document or Swap Contract or any limitation on the liability of any Borrower thereunder or any limitation on the method or terms of payment thereunder which may now or in the future be caused or imposed in any manner whatsoever. Grantor hereby acknowledges that absent this Section 10.3, Grantor might have a defense to the enforcement of this Deed of Trust as a result of one or more of the foregoing acts, omissions, agreements, waivers or matters. Grantor hereby expressly waives and surrenders any defense to any liability under this Deed of Trust based upon any of such acts, omissions, agreements, waivers or matters. It is the express intent of Grantor that Grantor’s obligations under this Deed of Trust are and shall be absolute, unconditional and irrevocable.

Deed of Trust to be Absolute. Grantor Trustor expressly agrees that ---------------------------- until the earlier of (i) the release and reconveyance of this Deed of Trust in accordance with Section 9.29 of the Loan Agreement, or (ii) the date that the Third Party Secured Obligations are Indebtedness is paid and performed in full, full and each and every term, covenant and condition of this Deed of Trust is fully performed, Grantor Trustor shall not be released by or because of:of- (ai) Any act or event which might otherwise discharge, reduce, limit or modify Grantor’s Trustor's obligations under this Deed of Trust; (bii) Any waiver, extension, modification, forbearance, delay or other act or omission of Beneficiary, or the its failure by Beneficiary to proceed promptly or otherwise against any Borrower, Grantor any security encumbered by the Vista Verde Deed of Trust or any security; (ciii) Any action, omission or circumstance which might increase the likelihood that Grantor Trustor may be called upon to perform under this Deed of Trust or which might affect the rights or remedies of Grantor Trustor against any Borrower; or; (div) Any dealings occurring at any time between Borrower and Beneficiary, whether relating to the Third Party Indebtedness or otherwise, (v) Borrower becoming insolvent or subject to any bankruptcy or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships (an “"Insolvency Proceeding”") and as a result thereof some or all of the Third Party Secured Obligations Indebtedness being terminated, rejected, discharged, modified or abrogated; or (vi) Any action of Beneficiary described in subsection (b) above. This Deed of Trust shall remain in full force and effect without regard to, and shall not be affected or impaired, by any invalidity, irregularity or unenforceability, in whole or in part (including with respect to any netting provision) of any Loan Document or Swap Contract or any limitation on the liability of any Borrower thereunder or any limitation on the method or terms of payment thereunder which may now or in the future be caused or imposed in any manner whatsoever. Grantor Trustor hereby acknowledges that that, absent this Section 10.3subsection (c), Grantor Trustor might have a defense to the enforcement of this Deed of Trust as a result of one or more of the foregoing acts, omissions, agreements, waivers or matters. Grantor Trustor hereby expressly waives and surrenders any defense to any liability under this Deed of Trust based upon any of such acts, omissions, agreements, waivers or matters. It is the express intent of Grantor Trustor that Grantor’s Trustor's obligations under this Deed of Trust are and shall be absolute, unconditional and irrevocable.

Deed of Trust to be Absolute. Grantor expressly agrees that until the earlier of (i) the release and reconveyance of this Deed of Trust in accordance with Section 9.29 of the Loan Agreement, or (ii) the date that the Third Party Secured Obligations are paid and performed in full, and each and every term, covenant and condition of this Deed of Trust is fully performed, to the extent permitted by applicable Laws, Grantor shall not be released by or because of: (a) Any act or event which might otherwise discharge, reduce, limit or modify Grantor’s obligations under this Deed of Trust; (b) Any waiver, extension, modification, forbearance, delay or other act or omission of Beneficiary, or the failure by Beneficiary to proceed promptly or otherwise against any Borrower, Grantor or any security; (c) Any action, omission or circumstance which might increase the likelihood that Grantor may be called upon to perform under this Deed of Trust or which might affect the rights or remedies of Grantor against any Borrower; or (d) Any Borrower becoming insolvent or subject to any bankruptcy or other voluntary or involuntary proceeding, in or out of court, for the adjustment of debtor-creditor relationships (an “Insolvency Proceeding”) and as a result thereof some or all of the Third Party Secured Obligations being terminated, rejected, discharged, modified or abrogated. This Deed of Trust shall remain in full force and effect without regard to, and shall not be affected or impaired, by any invalidity, irregularity or unenforceability, in whole or in part (including with respect to any netting provision) of any Loan Document or Swap Contract or any limitation on the liability of any Borrower thereunder or any limitation on the method or terms of payment thereunder which may now or in the future be caused or imposed in any manner whatsoever. Grantor hereby acknowledges that absent this Section 10.3, Grantor might have a defense to the enforcement of this Deed of Trust as a result of one or more of the foregoing acts, omissions, agreements, waivers or matters. To the extent permitted by applicable Laws, Grantor hereby expressly waives and surrenders any defense to any liability under this Deed of Trust based upon any of such acts, omissions, agreements, waivers or matters. It is the express intent of Grantor that Grantor’s obligations under this Deed of Trust are and shall be absolute, unconditional and irrevocable.