Duplicative Performance Not Required Clause Samples
The "Duplicative Performance Not Required" clause establishes that a party is not obligated to perform the same duty more than once under a contract. In practice, this means if a party has already fulfilled a specific obligation, they are not required to repeat that action even if the contract could be interpreted as imposing it in multiple sections. This clause helps prevent unnecessary repetition of tasks and ensures efficiency by clarifying that once an obligation is satisfied, it does not need to be performed again, thereby reducing the risk of redundant work and potential disputes over repeated performance.
Duplicative Performance Not Required. To the extent that any provisions of this Agreement require the Borrower to post additional collateral or security for the performance of Borrower’s or Leasehold Pledgor’s (or Owner’s or Operating Lessee’s) obligations hereunder or Owner’s and/or Operating Lessee’s obligations under the Mortgage Loan Documents, and Owner or Operating Lessee shall have posted collateral or security in respect of the same obligations pursuant to the Mortgage Loan Agreement, then Borrower shall have no obligation under this Agreement to post such additional collateral or security in connection therewith; provided, however, in the event the Mortgage Loan has been paid in full, any and all obligations of Owner and Operating Lessee under the Mortgage Loan Documents to have posted additional collateral or security in respect of the obligations of Owner and Operating Lessee pursuant to the Mortgage Loan Agreement shall instead be deemed to require that such additional collateral or security be posted in favor of Lender in respect of Borrower’s and Leasehold Pledgor’s obligations pursuant to this Agreement.
Duplicative Performance Not Required. To the extent that any provisions of this Agreement require the Borrower to post additional collateral or security for the performance of Borrower’s (or Owner’s) obligations hereunder or Owner’s obligations under the Mortgage Loan Documents, and Owner shall have posted collateral or security in respect of the same obligations pursuant to the Mortgage Loan Agreement, then Borrower shall have no obligation under this Agreement to post such additional collateral or security in connection therewith; provided, however, in the event the Mortgage Loan has been paid in full, any and all obligations of Owner under the Mortgage Loan Documents to have posted additional collateral or security in respect of the obligations of Owner pursuant to the Mortgage Loan Agreement shall instead be deemed to require that such additional collateral or security be posted in favor of Lender in respect of Borrower’s obligations pursuant to this Agreement.
Duplicative Performance Not Required. To the extent that any provisions of this Agreement require the Borrower to post additional collateral or security for the performance of Borrower’s or Leasehold Pledgor’s (or Mezzanine A Borrower’s, Mezzanine A Leasehold Pledgor’s, Owner’s or Operating Lessee’s) obligations hereunder or Mezzanine A Borrower’s and/or Mezzanine A Leasehold Pledgor’s obligations under the Mezzanine A Loan Documents, and Mezzanine A Borrower or Mezzanine A Leasehold Pledgor shall have posted collateral or security in respect of the same obligations pursuant to the Mezzanine A Loan Agreement, then Borrower shall have no obligation under this Agreement to post such additional collateral or security in connection therewith; provided, however, in the event the Mezzanine A Loan has been paid in full, any and all obligations of Mezzanine A Borrower and Mezzanine A Leasehold Pledgor under the Mezzanine A Loan Documents to have posted additional collateral or security in respect of the obligations of Mezzanine A Borrower and Mezzanine A Leasehold Pledgor pursuant to the Mezzanine A Loan Agreement shall instead be deemed to require that such additional collateral or security be posted in favor of Lender in respect of Borrower’s and Leasehold Pledgor’s obligations pursuant to this Agreement. -190- Mezzanine B Loan Agreement