Common use of Forbearance Clause in Contracts

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 75 contracts

Samples: Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

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Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 25 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Angeles Income Properties LTD 6), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Angeles Income Properties LTD 6), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Cornerstone Healthcare Plus Reit, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 19 contracts

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), Multifamily Mortgage, Assignment of Rents and Security Agreement (Emeritus Corp\wa\), Multifamily Mortgage, Assignment of Rents and Security Agreement (Emeritus Corp\wa\)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 16 contracts

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Preferred Apartment Communities Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Preferred Apartment Communities Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 11 contracts

Samples: Deed of Trust, Assignment of Rents and Security Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Davidson Income Real Estate Lp), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Davidson Income Real Estate Lp)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 8 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Wellsford Real Properties Inc), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Roberts Realty Investors Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Sunrise Assisted Living Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 6 contracts

Samples: Purchase Money Mortgage (Steadfast Income REIT, Inc.), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in Lendxx xx exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of Lendxx xx remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt Lendxx'x xeceipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 4 contracts

Samples: Multifamily Note (Arv Assisted Living Inc), Multifamily Note (American Retirement Villas Properties Iii LTD Partnership), Multifamily Note (Arv Assisted Living Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. Lender’s Xxxxxx's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 4 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement, Multifamily Deed of Trust, Assignment of Rents and Security Agreement, Multifamily Mortgage, Assignment of Rents and Security Agreement

Forbearance. (a) Lender may (but will not be obligated to) agree with BorrowerXxxxxxxx, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender Xxxxxx of any security for the Indebtedness will not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 3 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this any of the Loan Agreement, the Note or any other Loan DocumentDocuments. (iii) Release anyone liable for the payment of any amounts due under this any of the Loan Agreement, the Note or any other Loan DocumentDocuments. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the any Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under any of the NoteLoan Documents, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, law will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election of remedies by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 3 contracts

Samples: Loan Agreement (Vinebrook Homes Trust, Inc.), Loan Agreement (Reven Housing REIT, Inc.), Loan Agreement (Front Yard Residential Corp)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, at Lender’s option and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend extend the time for payment of all or any part of the Indebtedness. (ii) Reduce , reduce the payments due under this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (iii) Release , release anyone liable for the payment of any amounts under this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (iv) Accept , accept a renewal of the Note. (v) Modify , modify the terms and time of payment of the Indebtedness. (vi) Join , join in any extension or subordination agreement. (vii) Release , release any portion of the Mortgaged Property. (viii) Take , take or release other or additional security. (ix) Modify , modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise , or otherwise modify this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Security Instrument, the Guaranty Agreement, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or insurance and/or condemnation proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 3 contracts

Samples: Mortgage and Security Agreement, Deed to Secure Debt and Security Agreement (CNL Healthcare Trust, Inc.), Mortgage and Security Agreement (CNL Healthcare Trust, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. Lender’s Xxxxxx's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 3 contracts

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Emeritus Corp\wa\), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Century Properties Fund Xvii), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Consolidated Capital Properties Iv)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this any of the Loan Agreement, the Note or any other Loan DocumentDocuments. (iii) Release anyone liable for the payment of any amounts due under this any of the Loan Agreement, the Note or any other Loan DocumentDocuments. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under any of the NoteLoan Documents, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, law will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election of remedies by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement, Loan Agreement

Forbearance. During the period commencing on the date hereof and ending on the earlier of (ai) Lender may the occurrence of any Event of Default (but will not be obligated toas such term is defined in each of the Secured Revolving Credit Agreement and the Indenture) agree with Borrowerunder the Secured Revolving Credit Agreement or the Indenture that continues for five (5) business days after notice thereof from the administrative agent or the indenture trustee, from time as applicable, to timethe Company, other than defaults or events of default set forth on Schedule A attached hereto, and without giving Notice (ii) termination of this Agreement in accordance with its terms (each of clause (i) and clause (ii), a “Forbearance Termination Event”), each Consenting Creditor hereby agrees to forebear from the exercise of its default-related rights or remedies it may have under the Secured Revolving Credit Agreement or the Indenture (including any collateral documents referenced therein), as applicable, and under applicable United States or foreign law or otherwise, in each case, with respect to any defaults or events of default which may arise under the Secured Revolving Credit Agreement or the Indenture at any time on or prior to the Forbearance Termination Event. For the avoidance of doubt, (x) the forbearance set forth in this Section 4(d) shall not constitute a waiver with respect to any defaults or any events of default under the Secured Revolving Credit Agreement or the Indenture and shall not bar any Consenting Creditor from filing a proof of claim or taking action to establish the amount of such claim and (y) nothing in this Agreement, including this Section 4(d), shall limit or prohibit JPMorgan Chase Bank, N.A. from taking any required actions in its capacity as an agent, including under the Secured Revolving Credit Agreement, the Paragon Parties’ term loan facility or any related guarantee or collateral agreements. Except as expressly provided in this Agreement, nothing herein is intended to, or obtaining the consent ofdoes, in any manner waive, limit, impair, or having restrict any effect upon right of any Consenting Creditor or the obligations of, any Guarantor or other third party obligor, to take any ability of each of the following actions: Consenting Creditors to protect and preserve its rights, remedies and interests, including its claims against the Paragon Parties. If the transactions contemplated hereby are not consummated, or if this Agreement is terminated for any reason, the Parties fully reserve any and all of their rights. The Company hereby confirms that no Defaults or Events of Default (ias such terms are defined in the Secured Revolving Credit Agreement and the Indenture, respectively) Extend exist under the time for payment of all Secured Revolving Credit Agreement or any part the Indenture as of the Indebtedness. (ii) Reduce date hereof except for the payments failure to pay interest due under this Loan Agreementon the 6.75% Senior Notes on January 15, 2016. Upon the occurrence of a Forbearance Termination Event, the Note or any other Loan Document. (iii) Release anyone liable for agreement of the payment Consenting Creditors hereunder to forbear from exercising rights and remedies shall immediately and automatically terminate without requirement of any amounts under this Loan Agreementdemand, presentment, protest, or notice of any kind, all of which the Note or any other Loan Document. Paragon Parties hereby waive (iv) Accept a renewal of to the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded extent permitted by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default).

Appears in 2 contracts

Samples: Plan Support Agreement (Paragon Offshore PLC), Plan Support Agreement (Paragon Offshore PLC)

Forbearance. (a) Lender Mortgagee may (but will not be obligated to) agree with BorrowerMortgagor, from time to time, at Mortgagee's option and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend extend the time for payment of all or any part of the Indebtedness. (ii) Reduce , reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release , release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept , accept a renewal of the Note. (v) Modify , modify the terms and time of payment of the Indebtedness. (vi) Join , join in any extension or subordination agreement. (vii) Release , release any portion of the Mortgaged Property. (viii) Take , take or release other or additional security. (ix) Modify , modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise , or otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Mortgagee in exercising any right or remedy under the Note, this Loan Agreement Instrument, the Guaranty Agreement, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender Mortgagee of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s Mortgagee's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender Mortgagee of any security for the Indebtedness will shall not constitute an election by Lender Mortgagee of remedies so as to preclude the exercise of any other right available to LenderMortgagee. Lender’s Mortgagee's receipt of any awards or insurance and/or condemnation proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Advocat Inc), Mortgage and Security Agreement (Advocat Inc)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third third-party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender Xxxxxx of remedies so as to that preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third third-party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to that preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Lxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Lxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderLxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (NTS Realty Holdings Lp), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Capital Senior Living Corp)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third third-party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender Xxxxxx of remedies so as to that preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement

Forbearance. (a) Lender may (but will shall not be obligated to) agree with BorrowerGuarantor, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under ; and otherwise modify this Instrument, the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 17 and 6.11 will 18 shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Deed of Trust, Deed of Trust

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. Lender’s Xxxxxx's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Roberts Realty Investors Inc), Memorandum of Understanding

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of DefaultXxxxxxx.

Appears in 2 contracts

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), Multifamily Open End Mortgage, Assignment of Rents and Security Agreement (Behringer Harvard Multifamily Reit I Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Mid America Apartment Communities Inc), Credit Agreement (Mid America Apartment Communities Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with BorrowerBorrower or Sponsor, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: : (i) Extend extend the time for payment of all or any part of the Indebtedness. Sponsor Borrower Loan; (ii) Reduce reduce the payments due under this Loan Agreement, the Revolving Credit Note or any other Loan Document. ; (iii) Release release anyone liable for the payment of any amounts under this Loan Agreement, the Revolving Credit Note or any other Loan Document. ; (iv) Accept a renewal of the Note. (v) Modify modify the terms and time of payment of the Indebtedness. Sponsor Borrower Loan; (viv) Join join in any extension or subordination agreement. ; (vi) release any Collateral Pool Property; (vii) Release any portion of the Mortgaged Property. (viii) Take take or release other or additional security. ; (ixviii) Modify modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. ; and (xix) Otherwise otherwise modify this Loan Agreement, the Revolving Credit Note or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Sponsor Borrower Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness Sponsor Borrower Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Sponsor Borrower Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Preferred Apartment Communities Inc), Credit Agreement (Preferred Apartment Communities Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : ________________________________________________________________________________ PAGE 30 extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Maxus Realty Trust Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedyremedy except as expressly provided in such writing. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of DefaultDefault except to the extent of satisfaction of the Loan.

Appears in 1 contract

Samples: Credit Agreement (Steadfast Apartment REIT, Inc.)

Forbearance. From the Effective Date (defined below) and for so long as this Agreement has not terminated or been terminated in accordance with its terms (the “Forbearance Period”): (a) Lender may (but will each Signing Lease Debt Holder, solely in its capacity as Lease Debt holder and not be obligated to) agree with Borrowerin any other capacity, agrees to forbear from time to timeexercising, directly or indirectly, and without giving Notice tofrom directing the Pass Through Trustee (and directing, directly or obtaining the consent of, or having any effect upon the obligations ofindirectly, any Guarantor Lease Indenture Trustee) to exercise, any rights or other third party obligor, to take remedies against any Debtor or any Owner Lessor Party on account of the following actions: (i) Extend the time for payment of all commencement or any part continuation of the Indebtedness. Debtors’ Cases, (ii) Reduce any default in the payments due under this Loan Agreement, the Note payment of principal or interest or any other Loan Document. amounts owing on any Lessor Note, (iii) Release anyone liable for any default in the payment of any amounts under this Loan Agreement, the Note Rent or any other Loan Document. amounts owing under any Facility Lease or Facility Site Sublease, (iv) Accept a renewal any default in the payment of amounts owing under the Note. Operative Documents (except to the extent such payment is expressly required pursuant to this Agreement), including without limitation under any EME Guarantee, Reimbursement Agreement, EME OP Guarantee or Tax Indemnity Agreement, (v) Modify the terms and time non-payment or acceleration of payment any Indebtedness of the Indebtedness. Debtors and their subsidiaries (whether or not resulting from the Debtors’ Cases or items (i) through (iv) above), and any cross-default or cross-acceleration events resulting therefrom (including any intercompany cross-defaults), (vi) Join in any extension failure of the Debtors or subordination agreement. their subsidiaries to comply with any financial covenants (including any cross-default or cross-acceleration events resulting therefrom) and (vii) Release any portion other Lease Event of Default or Lease Indenture Event of Default related to the commencement of the Mortgaged Property. Debtors’ Cases (viii) Take including any cross-default or release other cross-acceleration provision with respect to the Facility Lessee or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document.Guarantor); (b) Any forbearance by Lender each Owner Lessor Party agrees to forbear from exercising, directly or indirectly, any rights or remedies against any Debtor or any Lease Indenture Trustee, Pass Through Trustee or Lease Debt holder on account of (i) the commencement or continuation of the Debtors’ Cases, (ii) any default in exercising any right the payment of principal or remedy under the Note, this Loan Agreement interest or any other Loan amounts owing on any Lessor Note, (iii) any default in the payment of Rent or any other amounts owing under any Facility Lease or Facility Site Sublease, (iv) any default in the payment of amounts owing under the Operative Documents (except to the extent such payment is expressly required pursuant to this Agreement), including without limitation under any EME Guarantee, Reimbursement Agreement, EME OP Guarantee or Tax Indemnity Agreement, (v) non-payment or acceleration of any Indebtedness of the Debtors and their subsidiaries (whether or not resulting from the Debtors’ Cases or items (i) through (iv) above), and any cross-default or cross-acceleration events resulting therefrom (including any intercompany cross-defaults), (vi) any failure of the Debtors or their subsidiaries to comply with any financial covenants (including any cross-default or cross-acceleration events resulting therefrom) and (vii) any other Lease Event of Default or Lease Indenture Event of Default related to the commencement of the Debtors’ Cases (including any cross-default or cross-acceleration provision with respect to the Facility Lessee or the Guarantor); provided, however, that nothing herein shall be deemed to affect any rights of the Owner Lessor Parties under Sections 2.10 or 2.12 of the Lease Indentures to purchase or assume the Lessor Notes, and the Owner Lessor Parties expressly reserve the right to exercise those rights during the Forbearance Period (it being understood and agreed that, notwithstanding any purchase or assumption of the Lessor Notes by the Owner Lessor Parties, the Owner Lessor Parties shall continue to be subject to the terms of this Agreement (including their agreement to forbear during the Forbearance Period) in all capacities (including, for the avoidance of doubt, their capacity as Owner Lessor Parties and as a holders of the Lessor Notes, if applicable)); and (c) except as expressly provided in this Agreement, each of the Parties agrees to forbear from taking (directly or indirectly), and (to the extent applicable) from directing the Pass Through Trustee (and directing, directly or indirectly, any Lease Indenture Trustee) to take, any action in either of the Debtors’ Cases or other legal proceeding (and all Parties’ rights with respect to such matters are fully preserved) with respect to (i) the relative rights and obligations of each of the Parties under the Operative Documents including, without limitation, actions with respect to (A) the applicability of any Bankruptcy Code provision (including, without limitation, Bankruptcy Code sections 365(d) and 502(b)(6)) to any of the Operative Documents, (B) the characterization of any Operative Document as a true lease, a financing lease, a secured financing, or any other characterization, (C) the characterization of the Facilities as real property or personal property, (D) the characterization of any payments or allocations of payments under any Operative Document, (E) the relative rights of the Lease Indenture Trustees and the Owner Lessor Parties with respect to amounts owing under any Operative Document, (F) the validity and enforceability (and, where applicable, perfection and priority) of any Operative Document, the liens and security interests granted, and assignments of rights effected, pursuant to the Operative Documents and related documents, and obligations arising under the Operative Documents, or (G) the value of the Facilities, the Facility Sites, or any related rights or assets; and (ii) any other affirmative relief against any of the other Parties; provided, however, that nothing in this Section 1 shall prohibit or in any way limit any Party’s right to respond in full to, and to otherwise afforded protect fully its rights with regard to, and pleading or assertion made or other action taken, whether in the Debtors’ Cases or otherwise, by any person that is not a Party to this Agreement. Each of the Parties acknowledges and agrees that, notwithstanding the foregoing: (u) except as expressly set forth in this Agreement, (i) the Signing Lease Debt Holders reserve the right to enforce, and to direct the Pass Through Trustee and (directly or indirectly) the Lease Indenture Trustees to enforce, each and every term of the Operative Documents and (ii) the Owner Lessor Parties and the Debtors reserve the right to enforce each and every term of the Operative Documents; (v) the Signing Lease Debt Holders are under no duty or obligation of any kind or any nature to grant the Debtors or the Owner Lessor Parties any additional period of forbearance beyond the Forbearance Period; (x) except for the limited forbearance set forth herein or as otherwise expressly provided in this Agreement, each of the Parties’ actions in entering into this Agreement shall not be construed as a waiver or relinquishment of, or estoppel to assert, any rights or remedies of such Parties’ under any of the Operative Documents, applicable law or in equity; (y) each of the Parties’ actions in entering into this Agreement are without prejudice to such Parties’ rights and or remedies to pursue any and all remedies under the Operative Documents, pursuant to applicable law, will not be a waiver of or preclude in equity available to them in their sole discretion upon the exercise of any other right termination (whether upon expiration or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part otherwise) of the Indebtedness after Forbearance Period; and (z) but for this Agreement, and except as limited by the due date Bankruptcy Code, the commencement of such paymentthe Debtors’ Cases, and subject to the terms of the Operative Documents, the Signing Lease Debt Holders and Owner Lessor Parties would be entitled to exercise, or, in the case of the Signing Lease Debt Holders, to direct the Pass Through Trustee and Lease Indenture Trustees to exercise, their rights and remedies under the Operative Documents and applicable law in respect of, among other things, the commencement of the Debtors’ Cases. For the avoidance of doubt, nothing in this Section 1 shall prohibit or in an amount which is less than the required payment, will not be a waiver of Lenderany way limit any Party’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds rights and obligations under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Defaultthis Agreement.

Appears in 1 contract

Samples: Forbearance Agreement (Midwest Generation LLC)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Summit Properties Partnership L P)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. Lender’s Xxxxxx's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Steadfast Income REIT, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy xx xxxedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude prexxxxx the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds xx xxxceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Krupp Realty LTD Partnership V)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Multifamily Reit I Inc)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note.. Multifamily Loan and Security Agreement – Seniors Housing Page 59 (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement – Seniors Housing (Strategic Student & Senior Housing Trust, Inc.)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an Multifamily Loan and Security Agreement Page 71 (Park at Kensington) election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document.; (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Mortgage, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 18 and 6.11 will 19 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Performance and Completion Guaranty

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementMRLF Mortgage, the Note MRLF Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementMRLF Mortgage, the Note MRLF Note, or any other Loan Document. (iv) Accept ; accept a renewal of the MRLF Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the MRLF Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the MRLF Note or change the amount of the monthly installments payable under the MRLF Note. (x) Otherwise ; and otherwise modify this Loan AgreementMRLF Mortgage, the Note MRLF Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the MRLF Note, this Loan Agreement MRLF Mortgage, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 18 and 6.11 will 19 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Mortgage, Pledge of Leases and Rents and Security Agreement

Forbearance. Subject to the terms and conditions set forth herein, the Administrative Agent, the Collateral Agent and the Lenders party hereto agree to forbear from exercising their rights and remedies under the Credit Agreement and the other Credit Documents solely with respect to the Designated Events of Default until October 30, 2009 (a) Lender may (but will not such date, subject to the following proviso, the “Forbearance Termination Date”); provided, that the Forbearance Termination Date shall be obligated to) agree with Borrower, from time automatically accelerated to time, and without giving Notice to, or obtaining the consent of, or having any effect upon date of the obligations of, any Guarantor or other third party obligor, earliest to take occur of any of the following actions: events: (ia) Extend the time for payment occurrence after the date hereof of all any Default or Event of Default other than the Designated Events of Default, (b) the failure of the Borrower or any part of the Indebtedness. other Credit Parties to comply with any term, covenant or provision set forth in this Agreement, including, without limitation, those set forth in Section 1.02 and Section IV hereof, (iic) Reduce the payments due occurrence after the date hereof of any payment by or on behalf of the Borrower of any interest or other amounts (whether in cash, by capitalizing such interest or other amounts or otherwise) to the holders of (x) the Spinco Senior Notes or (y) the 13 1/8% Senior Notes issued by the Borrower pursuant to the Indenture, dated as of July 29, 2009, between the Borrower and U.S. Bank National Association, as trustee, (d) the occurrence after the date hereof of any payment by or on behalf of the Borrower of any amounts payable under this Loan or in respect of any Secured Interest Rate Agreement and (e) the date that any of the Credit Parties or any of their respective affiliates joins in, assists, cooperates or participates as an adverse party or adverse witness in any suit or other proceeding against the Administrative Agent, the Collateral Agent, the Lenders or any affiliate of the Administrative Agent, the Collateral Agent or any Lender relating to the Obligations or in respect of any amounts owing under or in connection with the Credit Agreement, the Note other Credit Documents, this Agreement or any other Loan Document. (iii) Release anyone liable for documents, agreements or instruments executed in connection therewith. On and after the payment Forbearance Termination Date, the Administrative Agent, the Collateral Agent and each of the Lenders party hereto may proceed to enforce any amounts and/or all of their rights and remedies under this Loan or in respect of the Credit Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms Credit Documents and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude including, without limitation, the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when that the Borrower repay immediately any amounts then due and owing to the Administrative Agent, the Collateral Agent and the Lenders without the giving of all other payments on account of notice or the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender expiration of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Defaultapplicable grace period.

Appears in 1 contract

Samples: Forbearance Agreement (Fairpoint Communications Inc)

Forbearance. (a) Lender may (but will not be obligated to) agree with BorrowerBxxxxxxx, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender Lxxxxx in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender Lxxxxx of any security for the Indebtedness will not constitute an election by Lender Lxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderLxxxxx’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Sentio Healthcare Properties Inc)

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Forbearance. (a) Lender may (but will So long as this Agreement is not be obligated to) agree with terminated earlier as provided herein, Bank agrees not to accelerate the indebtedness under the Note, foreclose or attempt to foreclose any of Borrower's Collateral securing the Note, institute suit or arbitration proceedings for collection of the Note against Borrower, or exercise any other remedies against Borrower available to it under the Loan Documents or under applicable law from the Effective Date until November 30, 2003 (the "Termination Date"). The period of time from the Effective Date through the Termination Date shall be referred to as the "Forbearance Period." Borrower and Bank acknowledge and agree that from the Effective Date, Borrower shall pay interest at the prevailing Prime Rate of interest announced by the Bank from time to time, plus 4.75%, on the Indebtedness outstanding from time to time. If all amounts due and without giving Notice to, owing under the Loan are not paid in full on or obtaining before the consent of, Termination Date or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any earlier termination of the following actions: (i) Extend the time for payment of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, then Bank may seek to accelerate the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy indebtedness under the Note, this Loan Agreement or foreclose upon any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude Borrower's Collateral for the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or Note and to exercise any other remedies for to which Bank may be entitled under the Loan Documents or applicable law to collect amounts due under the Note or other Loan Documents. Borrower agrees that Borrower will not, during the Forbearance Period, initiate any failure to make prompt payment. Enforcement by Lender action of any security for kind against Bank with respect to the Indebtedness will not Note, exercise any remedy available under the Loan Documents or otherwise, or make any type of demand upon Bank with respect to the indebtedness evidenced by the Note. During the Forbearance Period, there shall occur no new Default or event which, with the passage of time or the giving of notice or both, would constitute an election by Lender a Default under any one or more of the Loan Documents or this Agreement. Borrower acknowledges that Bank's obligations under this Agreement are in the nature of a conditional forbearance only, and that Bank has made no agreement or commitment to modify or extend the Loan Documents beyond the Forbearance Period, and upon the termination of the Forbearance Period or earlier termination of this Agreement, Bank shall have the immediate and unconditional right to exercise its rights and remedies so as to preclude under the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultLoan Documents.

Appears in 1 contract

Samples: Forbearance Agreement (Intrepid Capital Corp)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all (01-23-02) PN 340 RD Instruction 2000-OOO Exhibit A Page 82 other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. Lender’s Xxxxxx's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Memorandum of Understanding

Forbearance. (a) Lender So long as the Loan is held by HUD, HUD may (but will not be obligated to) agree with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan Agreement, Security Instrument or the Note or any other Loan Document. (iii) Release Note; release anyone liable for the payment of any amounts under this Loan Agreement, Security Instrument or the Note or any other Loan Document. (iv) Accept Note; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan Agreement, Security Instrument or the Note or any other Loan Document. (b) Note. Any forbearance by Lender HUD in exercising any right or remedy under the Note, this Loan Agreement Security Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender HUD of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which that is less than the required payment, will shall not be a waiver of LenderHUD’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies right or remedy for any failure to make prompt payment. Enforcement by Lender HUD of any security for the Indebtedness will shall not constitute an election by Lender HUD of remedies so as to preclude the exercise of any other right available to LenderHUD. LenderHUD’s receipt of any proceeds or awards or proceeds under Sections 6.10 Section 16 and 6.11 will Section 17 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Green and Resilient Retrofit Program Mortgage

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms tern-is and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Historic Preservation Properties 1989 Limited Partnership)

Forbearance. (a) Lender may (but will not be obligated to) agree with Borrower, from time to time, at Lender’s option and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend extend the time for payment of all or any part of the Indebtedness. (ii) Reduce , reduce the payments due under this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (iii) Release , release anyone liable for the payment of any amounts under this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (iv) Accept , accept a renewal of the Note. (v) Modify , modify the terms and time of payment of the Indebtedness. (vi) Join , join in any extension or subordination agreement. (vii) Release , release any portion of the Mortgaged Property. (viii) Take , take or release other or additional security. (ix) Modify , modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise , or otherwise modify this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Security Instrument, the Guaranty Agreement, or any other Loan Document or Synovus/CHT Acworth GA Owner, LLC 22996-41 otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or insurance and/or condemnation proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments 11/01 Page 27 payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, payment or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Maxus Realty Trust Inc)

Forbearance. (a) Lender may (but will not be obligated to) agree 2.1 Lessor hereby agrees to forbear from exercising and enforcing its rights, powers and remedies under the Lease or now existing at law or in equity or by statute with Borrowerrespect to the Event of Default set forth above, from time to time, provided that Molecular shall comply with and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any fulfill each of the following actionsterms and conditions: A. Molecular shall pay to Lessor three (i3) Extend consecutive monthly payments of $7,312.68 each, the time for first payment of all to be made on or any part of before July 14, 2005; the Indebtednesssecond payment to be made on or before July 30, 2005; and the third payment to be made on or before August 30, 2005. (ii) Reduce B. Molecular shall grant to Lessor free and unfettered access to the payments due Equipment covered by the Lease upon reasonable notice by Lessor. 2.2 Molecular agrees that any breach or default under this Loan AgreementAgreement by Molecular will also constitute an Event of Default under the Lease and that any Event of Default (other than the failure to make the full lease payment under the Lease during the forbearance period) under the Lease shall constitute a default hereunder. Molecular hereby waives all notices and cure periods which may be provided for under the Lease and agrees that Lessor shall be immediately entitled to all relief afforded to Lessor thereunder. Notwithstanding anything to the contrary, Lessor shall give five (5) business days written notice to Molecular at the Note or address provided for under the Lease of any other Loan Documentoccurrence of a default under this Agreement and an opportunity to cure such default without acceleration during such five (5) day period. (iii) Release anyone liable for 2.3 Lessor’ forbearance is further expressly subject to and conditioned upon Molecular’s strict compliance with each and every term and provision of this Agreement and the payment Lease as modified under this Agreement. 2.4 Upon the breach by Molecular of any amounts under provision of this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any Event of Default under the Lease (other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt paymentthe full lease payment under the Lease during the forbearance period), Lessor, at its option, may withdraw its forbearance hereunder. Enforcement by Lender Lessor shall promptly advise Molecular of any security for such withdrawal, and until all of the Indebtedness will not constitute an election indebtedness (including any accelerated late charges) to Lessor have been paid in full, Lessor shall have the undisputed and absolute right to exercise and enforce all the rights, powers and remedies which may exist pursuant to the Lease or at law, in equity or by Lender of remedies so as to preclude the exercise statute, or without further demand or notice of any other right available to Lender. Lender’s receipt kind, all of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Defaultwhich are hereby waiver by Molecular.

Appears in 1 contract

Samples: Forbearance Agreement (Molecular Imaging Corp)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in Lendxx xx exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of Lendxx xx remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt Lendxx'x xeceipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Roberts Realty Investors Inc)

Forbearance. (a) Lender may During the Forbearance Period (but as defined below), the Agent, the Collateral Agent, the Facing Agent and the Lenders will not be obligated toexercise any of their rights or remedies (including, without limitation, under Section 7.21 of the Credit Agreement and the documents executed pursuant thereto) agree under the Credit Agreement, the Loan Documents or applicable law with Borrowerrespect to the Disclosed Defaults other than delivery of a Payment Blockage Notice, from time as defined in and pursuant to timethe terms and conditions of, the Senior Subordinated Note Indenture, and without giving the enforcement of any rights with respect to such Payment Blockage Notice toand any other actions reasonably related to the enforcement of such rights. For purposes of this Agreement, "Forbearance Period" means the period commencing on the Effective Date and terminating on the earlier of (i) April 30, 2002; (ii) the occurrence of an Additional Default (as defined below) under the Credit Agreement; (iii) any payment is made by Borrower or any Credit Party under or in respect to the Senior Subordinated Note Indenture, the Senior Subordinated Notes, or obtaining the consent ofany other Senior Subordinated Document, or having the Trustee or any effect upon Holder (as such terms are defined in the obligations of, Senior Subordinated Note Indenture) exercises any Guarantor rights or other third party obligor, remedies under the Senior Subordinated Documents or under applicable law; (iv) notification by Agent to take Borrower in writing that the Required Lenders have elected to terminate the Forbearance Period following an acceleration of the indebtedness evidenced by the Senior Subordinated Documents; (v) any representation or warranty made by any of the following actions: (i) Extend the time for payment of all Credit Parties under this Agreement or any part agreement, instrument or other document executed or delivered by any of the Indebtedness. (ii) Reduce the payments due under Credit Parties in connection with this Loan Agreement, the Note Agreement is incorrect or misleading in any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note material respect when made or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms deemed made; and time of payment of the Indebtedness. (vi) Join the occurrence of (or the Lenders' awareness of any facts or conditions previously unknown with respect to) any adverse change which has, or is reasonably likely to have, a material adverse effect on (A) the business, financial condition, assets, liabilities, prospects or results of operations of Holdings and its Subsidiaries taken as a whole, (B) the ability of any Credit Party to perform its respective obligations under any Loan Document to which it is a party, or (C) the validity or enforceability (other than in any extension or subordination agreement. (viiaccordance with its terms) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Credit Agreement or any other of the Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, Documents or the subsequent exercise rights or remedies of any right or remedyAgent, the Collateral Agent, the Facing Agent and the Lenders thereunder. The acceptance by Lender of payment of all or any part forbearance provisions set forth in this Section 3(a) shall, as of the Indebtedness after Effective Date, supersede in their entirety the due date of such payment, or forbearance provisions set forth in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account Section 3(a) of the Indebtedness or Sixth Amendment to exercise any remedies for any failure to make prompt payment. Enforcement Amended and Restated Credit Agreement and Forbearance Agreement dated as of February 26, 2002 among Holdings, Borrower, Agent and the Lenders, as amended by Lender the Forbearance Extension Agreement dated as of any security for March 12, 2002 among Holdings, Borrower, Agent and the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultLenders.

Appears in 1 contract

Samples: Credit Agreement (Orius Corp)

Forbearance. Subject to all the terms and conditions set forth herein, Bank shall forbear from filing any legal action or instituting or enforcing any rights and remedies it may have against Borrower from the Forbearance Effective Date (as defined in Section 10) until the date (the “Forbearance Termination Date”) which is the earliest to occur of (a) Lender may November 30, 2013, (but will not be obligated tob) agree the failure after the date hereof of Borrower to comply with Borrower, from time to time, and without giving Notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: (i) Extend the time for payment terms or undertakings of all or any part of the Indebtedness. (ii) Reduce the payments due under this Loan Agreement, (c) the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness occurrence after the due date hereof of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultDefault (other than the Existing Defaults), and (d) the date that Borrower joins in, assists, cooperates, or participates as an adverse party or adverse witness in any suit or other proceeding against Bank relating to the Obligations in connection with or related to any of the transactions contemplated by any of the other Loan Documents. Except as expressly provided herein, this Agreement does not constitute a waiver or release by Bank of any Obligations or of any existing Event of Default other than the Existing Defaults or Event of Default which may arise in the future after the date of execution of this Agreement. If Borrower does not comply with the terms of this Agreement, Bank shall have no further obligations under this Agreement and shall be permitted to exercise at such time any rights and remedies against Borrower as it deems appropriate in its sole and absolute discretion. Borrower understands that Bank has made no commitment and is under no obligation whatsoever to grant any additional extensions of time at the end of the Forbearance Period. The time period between the Forbearance Effective Date and the Forbearance Termination Date is referred to herein as the “Forbearance Period.

Appears in 1 contract

Samples: Loan and Security Agreement (Solta Medical Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the 11/01 amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture)

Forbearance. (a) Lender a. LHC may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementMortgage, the Note Note, or any other Loan Document. (b) b. Any forbearance by Permanent Lender in exercising any right or remedy under the Note, this Loan Agreement Mortgage, or any other RRDP Permanent Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Permanent Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Permanent Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Permanent Lender of any security for the Indebtedness will shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.constitute

Appears in 1 contract

Samples: Mortgage, Pledge of Leases and Rents and Security Agreement

Forbearance. Subject to all of the terms and conditions set forth herein, the Agent and the Purchasers agree to forbear from exercising their rights and remedies under the Transaction Documents solely with respect to the Specified Events of Default, until that date (athe “Forbearance Termination Date”) Lender may which is the earliest to occur of: (but will not be obligated toi) agree April 22, 2024 (the “Outside Termination Date”); (ii) the date on which any Event of Default (other than the Specified Events of Default) occurs; and (iii) the date on which any Credit Party fails to comply with Borrowerany term set forth in this Agreement, from time including, without limitation, the failure of any Credit Party to timemeet any Restructuring Milestone by the Applicable Deadline. As used herein, the term “Forbearance Period” shall mean the period beginning on the Forbearance Effective Date (as defined below) and without giving Notice toending on the Forbearance Termination Date. Each Credit Party acknowledges and expressly agrees that on and after the Forbearance Termination Date, or obtaining the consent ofAgent and the Purchasers may, or having any effect upon in accordance with the obligations ofterms of the Transaction Documents, any Guarantor whether with respect to the Specified Events of Default or other third party obligorEvents of Default, to take if any, enforce any or all of their rights and remedies under or in respect of this Agreement, the Securities Purchase Agreements, any of the following actions: other Transaction Documents or applicable law, including, without limitation, the right: (i) Extend the time for payment of to commence any legal or other action to collect any or all or any part of the Indebtedness. Obligations from any or all of the Credit Parties and any other person liable therefor and/or any Collateral; (ii) Reduce to foreclose or otherwise realize on any or all of the payments due under this Loan AgreementCollateral and/or as appropriate, the Note set-off or any other Loan Document. (iii) Release anyone liable for apply to the payment of any amounts under this Loan Agreementor all of the Obligations, any or all of the Note or any other Loan Document. Collateral; (iii) to vote Collateral consisting of equity interests by proxy; (iv) Accept a renewal of the Note. to exercise dominion over cash in deposit accounts; (v) Modify the terms to take any other enforcement action or otherwise exercise any or all rights and time of payment remedies provided for by any or all of the Indebtedness. Securities Purchase Agreements, the other Transaction Documents or applicable law; and (vi) Join in to reject any extension subsequent forbearance, financial restructuring or subordination agreement. (vii) Release any portion other proposal made by or on behalf of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note Credit Parties or any other Loan Documentof their creditors or equity holders. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Forbearance Agreement (Optimus Healthcare Services, Inc.)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Note, or any other Loan Borrower Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Note, or any other Loan Borrower Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementInstrument, the Note Note, or any other Loan Borrower Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Instrument, or any other Loan Borrower Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (America First Apartment Investors Inc)

Forbearance. (a) Lender 32.1 Beneficiary may (but will not be obligated to) agree with BorrowerTrustor, from time to time, at Beneficiary's option and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, Indebtedness of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend extend the time for payment of all or any part of the Indebtedness. (ii) Reduce , reduce the payments due under this Loan AgreementSecurity Instrument , the Note Note, or any other Loan Document. (iii) Release , release anyone liable for the payment of any amounts under this Loan AgreementSecurity Instrument , the Note Note, or any other Loan Document. (iv) Accept , accept a renewal of the Note. (v) Modify , modify the terms and time of payment of the Indebtedness. (vi) Join , join in any extension or subordination agreement. (vii) Release , release any portion of the Mortgaged Property. (viii) Take , take or release other or additional security. (ix) Modify , modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise , or otherwise modify this Loan AgreementSecurity Instrument, the Note Note, or any other Loan Document. (b) 32.2 Any forbearance by Lender Beneficiary in exercising any right or remedy under the Note, this Loan Agreement Security Instrument , the Guaranty Agreement, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender Beneficiary of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s Beneficiary's right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender Beneficiary of any security for the Indebtedness will shall not constitute an election by Lender Beneficiary of remedies so as to preclude the exercise of any other right available to LenderBeneficiary. Lender’s Beneficiary's receipt of any awards or insurance and/or condemnation proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Arv Assisted Living Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor or other third party obligor, to take any of the following actions: : (i) Extend extend the time for payment of all or any part of the Indebtedness. Loan; (ii) Reduce reduce the payments due under this Loan Agreement, the Revolving Credit Note, the Fixed Rate Note or any other Loan Document. ; (iii) Release release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, the Fixed Rate Note, or any other Loan Document. ; (iv) Accept a renewal of the Note. (v) Modify modify the terms and time of payment of the Indebtedness. Loan; (viv) Join join in any extension or subordination agreement. ; (vi) release any Collateral Pool Property; (vii) Release any portion of the Mortgaged Property. (viii) Take take or release other or additional security. ; (ixviii) Modify modify the rate of interest or period of amortization of the Revolving Credit Note, the Fixed Rate Note or change the amount of the monthly installments payable under the Revolving Credit Note or the Fixed Rate Note. ; and (xix) Otherwise otherwise modify this Loan Agreement, the Revolving Credit Note, the Fixed Rate Note or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, the Fixed Rate Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedyremedy except as expressly provided in such writing, or the subsequent exercise of any right or remedyif at all. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of DefaultDefault except to the extent of satisfaction of the Loan.

Appears in 1 contract

Samples: Credit Agreement (Steadfast Income REIT, Inc.)

Forbearance. In response to Borrower's request for Lender to continue to forbear with respect to the Payment Default which is continuing, Lender agrees, subject to the terms and conditions set forth below, (a) Lender may to continue to forbear from exercising any of its rights and remedies arising from the Payment Default or from an Event of Default arising from the failure of Borrower to make the scheduled payment of interest due and payable under the New Public Secured Notes on August 31, 1998 (but will not be obligated to"Additional Payment Default") agree with Borrower, from time to time, (whether such rights and without giving Notice to, or obtaining remedies arise under the consent of, or having any effect upon the obligations ofCredit Agreement, any Guarantor other Financing Agreement or other third party obligor, to take applicable law) for the purpose of collecting any of the following actionsObligations, and (b) to continue making loans, advances and other financial accommodations to Borrower, all on and subject to the terms and conditions set forth in the Credit Agreement, as amended by this Amendment. Such forbearance shall terminate on November 30, 1998, or earlier upon the happening of: (i) Extend the time for payment occurrence of all any Event of Default other than the Payment Default, Additional Payment Default or any part Case Event of the Indebtedness.Default (as defined below); or (ii) Reduce the payments due under this Loan Agreement, the Note or any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms and time of payment of the Indebtedness. (vi) Join in any extension or subordination agreement. (vii) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance remedy with respect to any of the Collateral by Lender any holder of any New Public Secured Note or by the Trustee under the New Public Secured Notes Indenture; or (iii) the payment of all any interest on the New Public Secured Notes in respect of which the Payment Default arose, the Additional Payment Default will arise, or any otherwise; or (iv) the occurrence of an Agreement Termination Event under and as defined in the letter agreement dated March 2, 1998 (the "Magten Letter Agreement") among Borrower, Apollo Apparel Partners, L.P. and Magten Asset Management Corp. ("Magten") attached to the Twelfth Amendment as part of the Indebtedness after the due date of such paymentExhibit A thereto, or in an amount which is less other than the required payment, will not be a waiver occurrence of Lender’s right to require prompt payment when due of all other payments on account an Agreement Termination Event under Section 4(g) of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultMagten Letter Agreement.

Appears in 1 contract

Samples: Revolving Credit, Factoring and Security Agreement (Salant Corp)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementInstrument, the Note Reimbursement Agreement or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementInstrument, the Note Reimbursement Agreement or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; consent to the modification of the rate of interest or period of amortization of the Note Bond Mortgage Loan or change the composition or the amount of the monthly installments payable scheduled payments and deposits required to be made by Borrower under the Note. (x) Otherwise Reimbursement Agreement; and otherwise modify this Loan AgreementInstrument, the Note Reimbursement Agreement or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under this Instrument, the Note, this Loan Reimbursement Agreement or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Uniform Covenants

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce ; reduce the payments due under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan AgreementMortgage, the Note Note, or any other Loan Document. (iv) Accept ; accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join ; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan AgreementMortgage, the Note Note, or any other Loan Document. (b) Any forbearance by Lender Xxxxxx in exercising any right or remedy under the Note, this Loan Agreement Mortgage, or any other Loan Document or otherwise afforded by applicable law, will shall not be a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will shall not constitute an election by Lender Xxxxxx of remedies so as to preclude the exercise of any other right available to Lender. LenderXxxxxx’s receipt of any awards or proceeds under Sections 6.10 19 and 6.11 will 20 shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: CDBG Piggyback Program Mortgage, Assignment of Leases and Rents and Security Agreement

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, of any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Revolving Credit Note or change the amount of the monthly installments payable under the Revolving Credit Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Revolving Credit Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Revolving Credit Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s 's receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Mid America Apartment Communities Inc)

Forbearance. (a) Lender may (but will shall not be obligated to) agree with Borrower, from time to time, and without giving Notice notice to, or obtaining the consent of, or having any effect upon the obligations of, any Guarantor guarantor or other third party obligor, to take any of the following actions: (i) Extend : extend the time for payment of all or any part of the Indebtedness. (ii) Reduce Loan; reduce the payments due under this Loan Agreement, the Note Note, or any other Loan Document. (iii) Release ; release anyone liable for the payment of any amounts under this Loan Agreement, the Note Note, or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify ; modify the terms and time of payment of the Indebtedness. (vi) Join Loan; join in any extension or subordination agreement. (vii) Release ; release any portion of the Mortgaged Collateral Pool Property. (viii) Take ; take or release other or additional security. (ix) Modify ; modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise ; and otherwise modify this Loan Agreement, the Note Note, or any other Loan Document. (b) . Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement Agreement, or any other Loan Document or otherwise afforded by applicable lawLaw, will shall be in writing and shall not be deemed a waiver of or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness Loan after the due date of such payment, or in an amount which is less than the required payment, will shall not be a waiver of Lender’s 's right to require prompt payment when due of all other payments on account of the Indebtedness Loan or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will Loan shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to LenderLender to the extent permitted by Law. Lender’s 's receipt of any awards or proceeds under Sections 6.10 and 6.11 will shall not operate to cure or waive any Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Essex Property Trust Inc)

Forbearance. (a) Lender may The Administrative Agent and the Required Lenders hereby agree, during the Forbearance Period, to forbear from (but will not i) declaring the Obligations, all interest thereon and all other amounts payable under the Loan Documents to be obligated todue and payable as a result of the occurrence of the Subject Events of Default and (ii) agree with Borrower, from time (A) terminating any obligation of the Lenders to time, make Loans and without giving Notice toany obligation of the Issuer to issue Letters of Credit, or obtaining (B) demanding that the consent ofBorrower pay to the Administrative Agent an amount equal to the Letter of Credit Exposure outstanding on the Forbearance Effective Date, as a result of the occurrence of the Subject Events of Default and (iii) instituting any judicial or having any effect upon non-judicial action or proceeding to enforce or obtain payment of the obligations of, any Guarantor Obligations or other third party obligor, to take any enforce the Administrative Agent’s security interests as a result of the Subject Events of Default. (b) Each of the following actionsshall constitute a “Forbearance Termination Event” under this Agreement: (i) Extend the time for Borrower shall fail to make any payment of all principal due under the Credit Agreement or this Agreement (including any payment required to reimburse the Issuer or any part Lender for any disbursement made by the Issuer pursuant to any Letter of the Indebtedness.Credit); (iiA) Reduce the payments Borrower shall fail to make any payment of interest due under this Loan Agreementthe Credit Agreement or (B) the Borrower shall fail to make payment of any amount (other than principal or interest) payable hereunder, under the Note Credit Agreement or under any other Loan Document.Document after such amount becomes due in accordance with the terms hereof or thereof, and such failure shall continue unremedied for a period of three (3) or more Business Days; (iii) Release anyone liable for any representation or warranty made or deemed made by the payment Borrower herein or which is contained in any certificate, document or financial or other statement furnished by the Borrower at any time under or in connection with this Agreement shall prove to have been inaccurate in any material respect on or as of any amounts under this Loan Agreement, the Note date made or any other Loan Document.deemed made; (iv) Accept the Borrower shall default in the observance or performance of any other covenant or agreement contained in this Agreement, and such default shall continue unremedied for a renewal period of three (3) or more Business Days after notice to the Note.Borrower from the Administrative Agent; (v) Modify the terms and time commencement of payment any action or proceeding against the Administrative Agent or any Lender by the Borrower, any of its affiliates or any entity controlled by or under common control with the Indebtedness.Borrower; or (vi) Join the occurrence of an Event of Default specified in any extension or subordination agreementArticle 8 of the Credit Agreement, other than the Subject Events of Default. (viic) Release Upon the occurrence of any portion Forbearance Termination Event, the forbearance agreements contained in Section 3(a) hereof shall automatically terminate and the Administrative Agent, at the direction of the Mortgaged Property.Required Lenders in their sole discretion, may, without presentment, demand, protest or notice to the Borrower, all of which are hereby waived, (viiii) Take declare all Obligations due and payable and the same shall forthwith become due and payable without presentment, demand, protest or release other notice, (ii) demand that the Borrower pay to the Administrative Agent an amount equal to the Letter of Credit Exposure, (iii) curtail or additional security. (ix) Modify eliminate the rate of interest Commitments and/or any or period of amortization all of the Note or change the amount Extensions of the monthly installments payable under the Note. Credit, and (xiv) Otherwise modify this Loan Agreement, the Note or any take whatever other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Agreement or any other Loan Document or otherwise afforded action it shall deem appropriate as permitted by applicable lawlaw or by any agreement, will not be a waiver of document or preclude the exercise of any other right or remedy, or the subsequent exercise of any right or remedy. The acceptance by Lender of payment of all or any part of the Indebtedness after the due date of such payment, instrument executed and delivered pursuant to or in an amount which is less than connection with the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account of the Indebtedness or to exercise any remedies for any failure to make prompt payment. Enforcement by Lender of any security for the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultObligations.

Appears in 1 contract

Samples: Forbearance Agreement (Lifetime Brands, Inc)

Forbearance. (a) Lender may During the Forbearance Period (but as defined below), the Agent, the Collateral Agent, the Facing Agent and the Lenders will not be obligated to) agree exercise any of their rights or remedies under the Credit Agreement, the Loan Documents or applicable law with Borrowerrespect to the Disclosed Defaults other than delivery of a Payment Blockage Notice, from time as defined in and pursuant to timethe terms and conditions of, the Senior Subordinated Note Indenture, and without giving the enforcement of any rights with respect to such Payment Blockage Notice toand any other actions reasonably related to the enforcement of such rights. For purposes of this Agreement, "FORBEARANCE PERIOD" means the period commencing on the Effective Date and terminating on the earlier of (i) March 31, 2002; (ii) the occurrence of an Additional Default (as defined below) under the Credit Agreement; (iii) any payment is made by Borrower or any Credit Party under or in respect to the Senior Subordinated Note Indenture, the Senior Subordinated Notes, or obtaining the consent ofany other Senior Subordinated Document, or having the Trustee or any effect upon Holder (as such terms are defined in the obligations of, Senior Subordinated Note Indenture) exercises any Guarantor rights or other third party obligor, remedies under the Senior Subordinated Documents or under applicable law; (iv) notification by Agent to take Borrower in writing that the Required Lenders have elected to terminate the Forbearance Period following an acceleration of the indebtedness evidenced by the Senior Subordinated Documents; (v) any representation or warranty made by any of the following actions: (i) Extend the time for payment of all Credit Parties under this Agreement or any part agreement, instrument or other document executed or delivered by any of the Indebtedness. (ii) Reduce the payments due under Credit Parties in connection with this Loan Agreement, the Note Agreement is incorrect or misleading in any other Loan Document. (iii) Release anyone liable for the payment of any amounts under this Loan Agreement, the Note material respect when made or any other Loan Document. (iv) Accept a renewal of the Note. (v) Modify the terms deemed made; and time of payment of the Indebtedness. (vi) Join the occurrence of (or the Lenders' awareness of any facts or conditions previously unknown with respect to) any adverse change which has, or is reasonably likely to have, a material adverse effect on (A) the business, financial condition, assets, liabilities, prospects or results of operations of Holdings and its Subsidiaries taken as a whole, (B) the ability of any Credit Party to perform its respective obligations under any Loan Document to which it is a party, or (C) the validity or enforceability (other than in any extension or subordination agreement. (viiaccordance with its terms) Release any portion of the Mortgaged Property. (viii) Take or release other or additional security. (ix) Modify the rate of interest or period of amortization of the Note or change the amount of the monthly installments payable under the Note. (x) Otherwise modify this Loan Agreement, the Note or any other Loan Document. (b) Any forbearance by Lender in exercising any right or remedy under the Note, this Loan Credit Agreement or any other of the Loan Document or otherwise afforded by applicable law, will not be a waiver of or preclude the exercise of any other right or remedy, Documents or the subsequent exercise rights or remedies of any right or remedyAgent, the Collateral Agent, the Facing Agent and the Lenders thereunder. The acceptance by Lender of payment of all or any part forbearance provisions set forth in this SECTION 3(A) shall, as of the Indebtedness after Effective Date, supersede in their entirety the due date of such payment, or forbearance provisions set forth in an amount which is less than the required payment, will not be a waiver of Lender’s right to require prompt payment when due of all other payments on account Section 3(a) of the Indebtedness or Fifth Amendment to exercise any remedies for any failure to make prompt payment. Enforcement by Lender Amended and Restated Credit Agreement and Forbearance Agreement dated as of any security for January 15, 2002 among Holdings, Borrower, Agent and the Indebtedness will not constitute an election by Lender of remedies so as to preclude the exercise of any other right available to Lender. Lender’s receipt of any awards or proceeds under Sections 6.10 and 6.11 will not operate to cure or waive any Event of DefaultLenders.

Appears in 1 contract

Samples: Credit Agreement (Orius Corp)

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