Common use of Forbearance Covenant Clause in Contracts

Forbearance Covenant. Each Borrower Party acknowledges and agrees that Lender shall have the free and unrestricted right, at any time and from time, subject to the provisions of this Agreement, to exercise any and all rights available to Lender under this Agreement and the Loan Documents, in equity or at law, in connection with any existing defaults, including, without limitation, the Acknowledged Defaults, and/or or any default or Event of Default, whether of the type or nature of the Acknowledged Defaults or otherwise. However, subject to the terms of this Agreement and provided no Termination Event occurs, Lender agrees to take no action to enforce payment of the Indebtedness up to and including June 30, 2012 (the, "Forbearance Expiration Date"). The forbearance by Lender, subject to the terms and conditions of this Agreement, is referred to as the "Forbearance Covenant". Borrower agrees that the Forbearance Covenant does not relate or extend to any actions that Lender may take under the Loan Documents or this Agreement, in equity or at law, solely to preserve and protect the Collateral or the interests of Lender in the Collateral (excluding, however, any action to collect or realize upon the Collateral), including, without limitation, (a) the filing of actions, or the defending of or intervention in actions (such as foreclosure proceedings) brought by third parties or by Borrower relating to the Collateral or the interests of Lender therein or (b) the sending of notices to any persons or entities concerning the existence of security interests or liens in favor of Lender relating to the Collateral.

Forbearance Covenant. Each 8.1 Borrower Party acknowledges and agrees that Lender shall have PNC has the free and unrestricted right, at any time and from time to time, subject to the provisions of this Agreement, to exercise any and all rights available Remedies attributable to Lender the Existing Defaults; provided, however, that unless and until a Termination Event (as hereinafter defined) shall occur, PNC shall not, prior to October 31, 2005 (the “Expiration Date”), except as otherwise expressly provided in this Agreement: (a) accelerate any of Borrower’s Obligations to PNC or demand accelerated payment of same, (b) file any action or proceeding against Borrower under this Agreement and the Loan Documents, in equity or at law, in connection with any existing defaults, including, without limitation, the Acknowledged Defaults, and/or Credit Agreement or any default or Event of Default, whether of the type Other Documents, or nature (c) foreclose upon or seek to foreclose upon any of the Acknowledged Defaults Collateral whether in a judicial or otherwise. However, subject to nonjudicial proceeding (the terms of this Agreement and provided no Termination Event occurs, Lender agrees to take no action to enforce payment of the Indebtedness up to and including June 30, 2012 (the, "Forbearance Expiration Date"). The forbearance from such actions by LenderPNC, subject to the terms and conditions of this Agreement, is being herein referred to as the "“Forbearance Covenant"”). Borrower agrees expressly acknowledges and agrees, however, that from and after the Expiration Date or such earlier date as a Termination Event may occur, PNC shall have the right, at any time and from time to time, to exercise any and all Remedies available to PNC against or with respect to Borrower, and the Collateral to the same extent as PNC would be entitled if the Forbearance Covenant had never been part of this Agreement. Notwithstanding the foregoing, it is specifically understood and agreed that the Forbearance Covenant does not relate relate, extend, or extend apply in any manner to (i) any actions that Lender PNC may take under the Loan Documents or this Credit Agreement, any of the Other Documents, or at law or in equity or at law, solely to preserve and protect the Collateral or and the interests of Lender in the Collateral (excluding, however, any action to collect or realize upon the Collateral), PNC therein including, without limitationlimiting the generality of the foregoing, (aA) the filing of actions, actions against or the defending of or intervention intervening in actions (such as foreclosure proceedings) brought by third parties or by Borrower relating to the Collateral or the interests of Lender therein PNC therein, or (bB) the sending of notices to any persons or entities Persons concerning the existence of security interests or liens in favor of Lender relating to PNC concerning the CollateralCollateral or (ii) the exercise of any other Remedies of PNC, except as expressly provided in the Forbearance Covenant.

Forbearance Covenant. Each Borrower Party acknowledges and agrees that Lender shall have the free and unrestricted right, at any time and from time, subject to the provisions of this Agreement, to exercise any and all rights available to Lender under this Agreement and the Loan Documents, in equity or at law, in connection with any existing defaults, including, without limitation, the Acknowledged Defaults, and/or or any default or Event of Default, whether of the type or nature of the Acknowledged Defaults or otherwise. However, subject to the terms of this Agreement and provided no Termination Event occurs, Lender agrees to take no action to enforce payment of the Indebtedness up to and including June 30, 2012 the ninetieth (the, 90th) day after the Effective Date of this Agreement (the "Forbearance Expiration Date"). The forbearance by Lender, subject to the terms and conditions of this Agreement, is referred to as the "Forbearance Covenant". Borrower agrees that the Forbearance Covenant does not relate or extend to any actions that Lender may take under the Loan Documents or this Agreement, in equity or at law, solely to preserve and protect the Collateral or the interests of Lender in the Collateral (excluding, however, any action to collect or realize upon the Collateral), including, without limitation, (a) the filing of actions, or the defending of or intervention in actions (such as foreclosure proceedings) brought by third parties or by Borrower relating to the Collateral or the interests of Lender therein or (b) the sending of notices to any persons or entities concerning the existence of security interests or liens in favor of Lender relating to the Collateral.

Forbearance Covenant. Each 6.1 Borrower Party acknowledges and agrees each Guarantor acknowledge and agree that Lender shall have has the free and unrestricted right, at any time and from time to time, subject to the provisions of this Agreement, to exercise any and all rights available Remedies attributable to the Existing Defaults; provided, however, that unless and until a Termination Event shall occur, Lender shall not, prior to June 30, 2010 (the “Expiration Date”), except as otherwise expressly provided in this Agreement, exercise any Remedies attributable to the Existing Defaults, including without limitation: (a) demand payment of the Debt related to the Loan (principal, interest or otherwise), (b) file any action or proceeding against Borrower or any Guarantor under this or in connection with the Loan Agreement and or any of the Loan Documents, in equity or at law(c) rescind its approval of Triple Net Properties Realty, in connection with any existing defaults, including, without limitation, the Acknowledged Defaults, and/or or any default or Event of Default, whether Inc. as manager of the type Property and the management agreement and related sub-management agreement between manager and Endeavor Real Estate Management, Ltd. as sub-manager, or nature (d) foreclose upon or seek to foreclose upon any of the Acknowledged Defaults Security whether in a judicial or otherwise. However, subject to nonjudicial proceeding (the terms of this Agreement and provided no Termination Event occurs, Lender agrees to take no action to enforce payment of the Indebtedness up to and including June 30, 2012 (the, "Forbearance Expiration Date"). The forbearance from such actions by Lender, subject to the terms and conditions of this Agreement, is being herein referred to as the "“Forbearance Covenant"”). Borrower agrees expressly acknowledges and agrees, however, that from and after the Expiration Date or such earlier date as a Termination Event may occur, Lender shall have the right, at any time and from time to time, to exercise any and all Remedies available to Lender against or with respect to Borrower or any Guarantor, and the Security to the same extent as Lender would be entitled if the Forbearance Covenant had never been part of this Agreement. Notwithstanding the foregoing, it is specifically understood and agreed that the Forbearance Covenant does not relate relate, extend, or extend apply in any manner to (i) any actions that Lender may take under the Loan Documents or this Agreement, any of the Loan Documents, or at law or in equity or at law, solely to preserve and protect the Collateral Security and the interests of Lender therein including, without limiting the generality of the foregoing, (A) filing actions against or defending or intervening in actions brought by third parties or Borrower or any Guarantor relating to the Security or the interests of Lender in the Collateral (excluding, however, any action to collect or realize upon the Collateral), including, without limitation, (a) the filing of actionstherein, or the defending of or intervention in actions (such as foreclosure proceedings) brought by third parties or by Borrower relating to the Collateral or the interests of Lender therein or (bB) the sending of notices to any persons or entities Persons concerning the existence of security interests or liens in favor of Lender relating to concerning the CollateralSecurity or (ii) the exercise of any other Remedies of Lender, except as expressly provided in the Forbearance Covenant.