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.
Appears in 3 contracts
Samples: Recourse Liability Agreement (KBS Real Estate Investment Trust, Inc.), Collateral Transfer and Settlement Agreement (KBS Real Estate Investment Trust, Inc.), Collateral Transfer and Settlement Agreement (Gramercy Capital Corp)
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; provided, however, that Guarantor shall only be liable for Full Recourse Events arising and accruing on or after the date hereof.
Appears in 1 contract
Samples: Supplemental Recourse Liability Agreement (KBS Real Estate Investment Trust, Inc.)
