Exceptions to Non-Recourse Liability. Notwithstanding Section 5.2 or any other provision of this Borrower Loan Agreement, the Governmental Lender (and the Funding Lender, as assignee of the Governmental Lender) shall have the right to recover from the Borrower the following:
(a) any loss, damage or cost (including but not limited to reasonable attorneys’ fees) resulting from fraud or intentional misrepresentation by the Borrower or the Borrower’s agents or employees in connection with obtaining the Borrower Loan evidenced by this Borrower Loan Agreement, the Borrower Note, or in complying with any of Borrower’s obligations under the Loan Documents;
(b) insurance proceeds, condemnation awards, security deposits from tenants or other sums or payments received by or on behalf of Borrower in its capacity as owner of the Project and not applied in accordance with the provisions of the Security Instrument;
(c) all rents not applied, first, to the payment of the reasonable operating expenses as such operating expenses become due and payable, and then, to the payment of principal and interest then due and payable under this Borrower Loan Agreement, the Borrower Note and any other sums due under the Security Instrument and all other Loan Documents (including but not limited to deposits or reserves payable under any Loan Document);
(d) transfer fees and charges due under the Security Instrument; T-29649.004\1790693
(e) all rents and profits, and security deposits received by the Borrower after an Event of Default under this Borrower Loan Agreement;
(f) any loss, damage or cost (including but not limited to reasonable attorneys’ fees) resulting from the commission of material waste by the Borrower (or any officer, director or agent of the Borrower or any guarantor or owner of any collateral) or failure by the Borrower to perform its obligations to maintain the Project in any material respect;
(g) any loss, damage or cost (including but not limited to reasonable attorneys’ fees) resulting from the presence or release of any “Hazardous Materials” (as defined in Section 2.3) on, in or under the Project;
(h) all sums owing by the Borrower under all indemnities contained in this Borrower Loan Agreement or the Regulatory Agreement; and
(i) any loss, damage or cost (including but not limited to reasonable attorneys’ fees) resulting from failure by the Borrower to pay taxes and charges that may become a lien on the Project, to maintain and pay premiums for insurance required pursuant to this Borrower Loan Agreem...
Exceptions to Non-Recourse Liability. If, without obtaining Xxxxxx Mae's prior written consent, (i) a "Transfer" shall occur which, pursuant to Uniform Covenant 19 of the any of the Mortgages, gives Xxxxxx Xxx the right, at its option, to declare all sums secured by any such Mortgage immediately due and payable, (ii) Owner shall encumber any Property with the lien of any "Subordinate Instrument" (as defined in the Related Mortgage with respect to such Property) in connection with any financing by Owner, or (iii) Owner shall cease to be a Single-Purpose entity, any of such events shall (after the expiration of any applicable notice and cure period) constitute an Event of Default hereunder and under the other Mortgage Documents, and if any such event shall continue for (thirty) 30 days after notice from Xxxxxx Mae, then, from and after the date that is (thirty) 30 days after such notice, (x) section 4.14(a) shall not apply to, and (y) Owner, QRS Partner and OP Partner shall be personally liable on a joint and several basis for full recourse liability under this Agreement and the other Mortgage Documents for, Xxxxxx Mae's actual loss, cost and expense (including reasonable attorney's fees and expenses but excluding consequential damages) suffered or incurred by Xxxxxx Mae to the extent suffered or incurred by Xxxxxx Xxx as a result of any event or occurrence described in clauses (i) through (iii) of this section 4.14(b).
Exceptions to Non-Recourse Liability. Notwithstanding the foregoing provisions of Section 2.2 or any other agreements,
(a) The City may proceed against any other person or entity whatsoever with respect to the enforcement of any guarantees, surety bonds, letters of credit, reimbursement agreements or similar rights to payment or performance; and
(b) The City may recover personally from any person or entity:
(1) any damages, costs and expenses incurred by the City as a result of the negligence of such person or entity, involving, directly or indirectly, the use, generation, treatment, storage, release, or disposal of any Hazardous Materials (other than Preexisting Hazardous Materials) by such person or entity or by others; provided, however, that neither Borrower nor any officer, director, agent, attorney, servant or employee of Borrower shall have any personal liability if the act or omission complained of was performed in good faith and was not reckless, wanton, intentional or grossly negligent;
(2) any damages, costs and expenses incurred by City as a result of fraud or any criminal act or acts of Borrower or any general partner, shareholder, officer, director or employee of Borrower, or of any member or general partner of Borrower, or of any general or limited partner of such member or general partner;
(3) any damages, costs and expenses incurred by City as a result of any misappropriation of City Loan proceeds for the construction of the Project, as described in the Loan Agreement, rents and revenues from the operation of the Project, or proceeds of insurance policies or condemnation proceeds; and
(4) all court costs and attorneys’ fees reasonably incurred in enforcing or collecting upon any of the foregoing exceptions (provided that City shall pay Borrower’s reasonable court costs and attorneys’ fees if Borrower is the prevailing party in any such enforcement or collection action).
Exceptions to Non-Recourse Liability. Notwithstanding the foregoing provisions of Section 2.2 or any other agreements,
Exceptions to Non-Recourse Liability. If, without obtaining Fannie Mae's prior written consent, (i) a "Transfer" shall occur which, pursuant to Uniform Covenant 19 of the any of the Mortgages, gives Fannie Mae the right, at its option, to declare all sums secured by any such Mortgage immediately due and payable, or (ii) any Borrower shall voluntarily encumber or permit the encumbrance of any Property with the lien of any "Subordinate Instrument" (as defined in the Related Mortgage with respect to such Property) in connection with any financing by such Borrower, any of such events shall constitute an Event of Default hereunder and under the other Mortgage Documents, and if such Event of Default shall continue for thirty (30) days then, from and after the date that is thirty (30) days after such event, (x) section 4.13(a) shall not apply, and (y) the Borrowers and, solely to the extent provided in the Guaranty, Guarantor shall be personally liable on a joint and several basis for full recourse liability under this Agreement and the other Mortgage Documents.
Exceptions to Non-Recourse Liability
