EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of Article 15.1 to the contrary, Borrower and Indemnitor shall be personally liable to Lender on a joint and several basis for the Losses Lender incurs due to: (a) fraud or intentional misrepresentation by Borrower or any other person or entity in connection with the execution and the delivery of the Note, this Security Instrument or the Other Security Documents; (b)
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of this Article to the contrary, Borrower shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional, material misrepresentation by Borrower, SCOLP, or any of their agents, principals, officers or employees, (ii) Borrower’s misapplication or misappropriation of insurance proceeds, condemnation awards, or tenant security deposits, if, and to the extent Borrower or its agents have the right and ability to control the disbursement of such proceeds, awards or deposit; (iii) Rents received by Borrower after the occurrence of an Event of Default, provided that such Rents (y) are not applied towards either the Monthly Payment or the ordinary and necessary operating expenses of the Property and Borrower has provided Lender with evidence of same in a form acceptable to Lender, or (z) are paid to Lender, (iv) so long as Borrower has possession and control of the Property, Bxxxxxxx’s failure to pay (except to the extent that sums sufficient to pay such amounts have been deposited in escrow with Lender pursuant to the terms of this Security Instrument) Taxes or other liens with priority over Lxxxxx’s lien on the Property or other liens established under the Loan Documents, to the extent funds are available from the operation of the Property for such purpose, or from escrow deposits made to Lender for such purpose (regardless of whether Lender uses such funds to pay such Taxes or other liens), (v) damage to the Property arising from (y) the intentional misconduct or gross negligence of Borrower, SCOLP, or any of their principals, officers, agents or employees, or (z) any removal of the Property in violation of the Loan Documents, or (vi) Borrower’s or any other Indemnitor’s failure to comply with the provisions of the Environmental Indemnity.
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of this Article to the contrary, Borrower (but not its members, partners or shareholders except to the extent any such member, partner or shareholder is liable for Losses due to its own fraud or intentional misrepresentation) shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower or any agent acting on behalf of Borrower in connection with the execution and the delivery of the Note, this Security Instrument or the Other Security Documents; (ii) Borrower's misapplication or misappropriation of Rents received by Borrower after the occurrence of an Event of Default; (iii) Borrower's misappropriation of tenant security deposits or Rents collected in advance; (iv) the misapplication or the misappropriation of insurance proceeds or condemnation awards; (v) Borrower's failure to pay Taxes, Other Charges, but only to the extent such Other Charges may be superior to the lien of this Security Instrument (except to the extent that sums sufficient to pay such amounts have been deposited in escrow with Lender pursuant to the terms of this Security Instrument); (vi) intentionally omitted; (vii) any act of arson by Borrower, any principal, affiliate, member or general partner thereof; (viii) any fees or commissions paid by Borrower to any principal, affiliate, member or general partner of Borrower in violation of the terms of the Note, this Security Instrument or the Other Security Documents; or (ix) Borrower's failure to comply with the provisions of Sections 4.2, 12.1 and 12.2 of this Security Instrument.
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of ------------------------- this Article to the contrary, Borrower shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower, its agents or principals in connection with the execution and the delivery of the Note, this Security Instrument or the other Loan Documents; (ii) Borrower's misapplication or misappropriation of (A) Rents received by Borrower, (B) tenant security deposits or Rents collected in advance, or (C) insurance proceeds or condemnation awards; (iii) Borrower's failure to pay Taxes, Insurance Premiums, Other Charges (except to the extent that sums sufficient to pay such amounts have been deposited in escrow with Lender pursuant to the terms of this Security Instrument), charges for labor or materials or other charges that can create liens on the Property, provided that Borrower's liability under this clause (iii) shall not exceed an amount equal to the net operating income of the Property for the twelve (12) month period preceding the related failure to pay, less the amount of all Monthly Payments (as defined in the Note) and required reserve payments made by Borrower in accordance with the Note, this Security Instrument and the other Loan Documents during such twelve (12) month period; (iv) Borrower's failure to comply with the provisions of Sections 3.6, 3.10 or 5.9 of this Security Instrument; or (v) Borrower's or any other Indemnitor's failure to comply with the provisions of the Environmental Indemnity.
EXCEPTIONS TO EXCULPATION. 52 Section 15.4 Recourse. . . . . . . . . . . . . . . . . 53 Section 15.5
EXCEPTIONS TO EXCULPATION. 49 Section 15.4 Recourse....................................................................49
EXCEPTIONS TO EXCULPATION. Notwithstanding the ------------------------- provisions of this Section 9.4 to the contrary, Borrower shall be personally ----------- liable to Lender for the losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower in connection with the Loan; (ii) Borrower's misapplication or misappropriation of Rents received by Borrower after the occurrence of an Event of Default; (iii) Borrower's misappropriation of tenant security deposits or Rents collected more than thirty (30) days in advance of when due under the applicable Lease; (iv) the misapplication or the misappropriation of insurance proceeds or condemnation awards; (v) Borrower's failure to comply with the provisions of Section 6.1(k); (vi) the breach of any provision in the Environmental Indemnity -------------- or Sections 8.1 or 8.2 of the Mortgages or any related indemnification or (vii) Borrower's indemnification of Lender pursuant to Section 9.2. -----------
EXCEPTIONS TO EXCULPATION. Notwithstanding section 4.13(a), each Borrower and Guarantor (but excluding other affiliates, members, partners, officers, directors
EXCEPTIONS TO EXCULPATION. 78 9.4.4 Bankruptcy Claims.......................................79 Section 9.5
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of ------------------------- this Section 9.4 to the contrary, Borrower and each Individual Borrower shall be ----------- personally and jointly and severally liable to Lender for the losses
