Full Recourse Events. In the event of the occurrence of any Full Recourse Event, Guarantor hereby irrevocably, unconditionally and absolutely agrees to assume and be responsible for the prompt and complete payments of all principal, Interest, Additional Interest and other sums evidenced by the Note or payable under any other Loan Documents. Such assumption and responsibility shall occur automatically upon the occurrence of any Full Recourse Event without further action on the part of any Person.
Full Recourse Events. In its sole discretion, Lender may cause Borrower to not be entitled to the benefits of the provisions of Section 7.1 if, without Lender’s prior written consent, the Property or any part thereof shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding, or (ii) an involuntary bankruptcy or insolvency proceeding (other than one filed by Xxxxxx) which is not dismissed within 90 days of filing.
Full Recourse Events. As used herein, "Full Recourse Event" means any Construction Agency Event of Default arising in whole or in part as a consequence of any of the following:
Full Recourse Events. Guarantor hereby irrevocably, unconditionally, absolutely agrees that it shall, upon the occurrence of any Full Recourse Event, assume and be responsible for the prompt and complete observance, fulfillment and performance of all of the Obligations of Borrower and Operating Lessee under the Loan Documents, including the making of all payments of all principal, Interest, Additional Interest and other sums evidenced by the Note (so that it shall become jointly and severally liable for such Obligations with Borrower and Operating Lessee). Such assumption and responsibility shall occur automatically upon the occurrence of any Full Recourse Event without further action on the part of any Person.
Full Recourse Events. In the event of the occurrence of any Full Recourse Event, Recourse Liability Party hereby irrevocably, unconditionally, absolutely, jointly and severally agrees to assume and be responsible for the prompt and complete observance, fulfillment and performance of all of the Obligations of Borrower under the Loan Documents, including the making of all payments of all principal, Interest, Additional Interest and other sums evidenced by the Note. Such assumption and responsibility shall occur automatically upon the occurrence of any Full Recourse Event without further action on the part of any Person.
Full Recourse Events. Notwithstanding anything in this Agreement to the contrary, including Section 10.1(a), the Debt shall be fully recourse to Borrower and the provisions of Section 10.1
(a) shall be wholly inapplicable ab initio, and Borrower shall be fully personally liable for the payment and performance of the Obligations, upon the occurrence of any one or more of the following events (collectively, the “Recourse Events”, and individually, a “Recourse Event”): (i) the gross negligence or willful misconduct of the SHP Subsidiaries, Guarantor or Borrower or any of their respective agents, managers, officers or employees; (ii) the physical waste or willful destruction of the Properties or any material portion thereof by any Loan Party, or any of their respective agents, managers, officers, employees or Affiliates; (iii) any fraud by any Loan Party in connection with the Loan whether made prior to or after the Closing Date; (iv) the removal or disposal of any portion of the Properties by any Loan Party, or any of their agents, managers, officers or employees except as expressly permitted by the Loan Documents; (v) any breach or violation or the occurrence of any prohibited actions with respect to any of the events described in Sections 9.1(f), (g) or (h); (vi) any financial information (including any financial information required by Section 5.16 of this Agreement) concerning the Properties, SHP or any other Loan Party, whether provided to the Administrative Agent before or after the Closing Date, is fraudulent in any material respect or any violation, breach or failure to comply with Section 5.16 shall occur and Borrower shall fail to cure the same within fifteen (15) days after notice thereof from Administrative Agent; (vii) any Loan Party or any other Person at the direction of any Loan Party, in any judicial or quasi-judicial case, action or proceeding, directly or indirectly contests the validity or enforceability of the Loan Documents or directly or indirectly contests or intentionally hinders, delays or obstructs the pursuit of any Remedial Action under the Loan Documents or pursuant to Applicable Law; (viii) Intentionally omitted; (viii) any violation, breach or failure to comply with Section 7.1, Section 7.2, Section 7.3 or Section 7.4; (ix) any breach of Section 5.29 or 5.31; (x) failure to maintain the insurance coverages required by Section 5.6 or any failure of Borrower or any other Loan Party to pay any deductible under any Policy after a loss covered by such Po...
Full Recourse Events. Notwithstanding anything to the contrary in this Guaranty, the Loan Agreement, the Note or any of the Loan Documents, Lender shall not be deemed to have waived any right which Lender may have under Section 506(a), 506(b), 1111(b) or any other provisions of the U.S. Bankruptcy Code to file a claim for the full amount of the Guaranteed Obligations secured by the Security Instrument or to require that all Collateral continue to secure all of the Guaranteed Obligations in accordance with the Loan Documents, and all of the Guaranteed Obligations shall be fully recourse to Guarantor and Guarantor shall be personally liable therefor in the event of:
(i) any Transfer which is not a Permitted Transfer; provided that any Transfer which is not a Permitted Transfer solely by virtue of a Person to fail to give notice to Lender as required shall not be a considered a full recourse event under this Section 2.3(d)(i);
(ii) Borrower’s failure to comply with the covenants in Section 7.1 of the Loan Agreement, and such failure results in the substantive consolidation in whole or in part of Borrower’s assets with the assets of another Person in any bankruptcy or insolvency proceeding;
(iii) the commission of fraud by any Loan Party in connection with the Loan or the Property;
(iv) any Loan Party files a voluntary petition under the bankruptcy code or any other federal or state bankruptcy or insolvency law;
(v) any Loan Party files, or joins in the filing of, an involuntary petition against any Loan Party under the bankruptcy code or any other Federal or state bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition against any Loan Party from any Person, or any Loan Party directs or causes any Person, Affiliate, officer, director or representative which controls any Loan Party to take any of the foregoing actions;
(vi) any Loan Party files an answer consenting to or otherwise acquiescing in any involuntary petition filed against it, by any other Person under the bankruptcy code or any other Federal or state bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition from any Person;
(vii) a Person, any Affiliate, officer, director, or representative which controls Borrower consents to or acquiesces in or joins in an application for the appointment of a custodian, receiver, trustee, or examiner for any Loan Party, or any portion of the Collateral (other than...
