Effect of Elevation Sample Clauses

Effect of Elevation. Upon the applicable Elevation Date, to the extent of such Elevation, (i) Participant shall assume all of the Assumed Obligations with respect to the applicable Participation Interest(s), (ii) Seller shall have no further responsibility in respect of such Assumed Obligations, in each case under the foregoing clauses (i) and (ii), such that Participant becomes the lender of record of such Loan and (iii) this Agreement shall cease to apply to such Participation Interest except as provided in the immediately following sentence; provided, that, in each case, notwithstanding any such Elevation hereunder, Seller shall continue to have the right to hold all agency roles (if any) under the related Loan Agreement and the related Credit Documentation. Notwithstanding the foregoing, the occurrence of an Elevation shall not affect (i) each party’s rights or obligations under this Agreement (other than to the extent any such elevated Loan is assigned to a new lender of record, in which case such Loan shall no longer be subject to this Agreement), (ii) the indemnities set forth in Section 12, in each case arising on or before the Elevation Date, including, without limitation, any rights or obligations relating to a party’s breach of any of its representations, warranties, covenants or agreements hereunder, (iii) Seller’s obligation to deliver to Participant any Income Collections relating to such Participation Interest (whether received before, on or after such Elevation Date) pursuant to Section 4 of this Agreement or (iv) either party’s right to reimbursement of Agent Expenses pursuant to Section 4.
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Related to Effect of Elevation

  • Effect of Decision The decision or award of the arbitrator shall be final and binding upon the University, the UFF, and the grievant, provided that either party may appeal to an appropriate court of law a decision that was rendered by the arbitrator acting outside of or beyond the arbitrator's jurisdiction, pursuant to Section 682.13, Florida Statutes.

  • Effect of Closing All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall be true and correct as of the Closing and shall survive the Closing of this Agreement.

  • Effect of Completion This agreement shall, as to any of its provisions remaining to be performed or capable of having or taking effect following Completion, remain in full force and effect notwithstanding Completion.

  • Landlord Exculpation The liability of Landlord or the Landlord Parties to Tenant for any default by Landlord under this Lease or arising in connection herewith or with Landlord’s operation, management, leasing, repair, renovation, alteration or any other matter relating to the Project or the Premises shall be limited solely and exclusively to an amount which is equal to the lesser of (a) the interest of Landlord in the Project or (b) the equity interest Landlord would have in the Project if the Project were encumbered by third-party debt in an amount equal to eighty percent (80%) of the value of the Project (as such value is determined by Landlord), including any rental, condemnation, sales and insurance proceeds received by Landlord or the Landlord Parties in connection with the Project, Building or Premises. No Landlord Parties (other than Landlord) shall have any personal liability therefor, and Tenant hereby expressly waives and releases such liability on behalf of itself and all persons claiming by, through or under Tenant. The limitations of liability contained in this Section 29.13 shall inure to the benefit of Landlord’s and the Landlord Parties’ present and future partners, beneficiaries, officers, directors, trustees, shareholders, agents and employees, and their respective partners, heirs, successors and assigns. Under no circumstances shall any present or future partner of Landlord (if Landlord is a partnership), or trustee or beneficiary (if Landlord or any partner of Landlord is a trust), have any liability for the performance of Landlord’s obligations under this Lease. Notwithstanding any contrary provision herein, neither Landlord nor the Landlord Parties shall be liable under any circumstances for injury or damage to, or interference with, Tenant’s business, including but not limited to, loss of profits, loss of rents or other revenues, loss of business opportunity, loss of goodwill or loss of use, in each case, however occurring, or loss to inventory, scientific research, scientific experiments, laboratory animals, products, specimens, samples, and/or scientific, business, accounting and other records of every kind and description kept at the premises and any and all income derived or derivable therefrom.

  • Effect of Entries The entries made in the records maintained pursuant to paragraph (c) or (d) of this Section shall be prima facie evidence, absent obvious error, of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement.