Full Recourse Obligations of Maker Sample Clauses

Full Recourse Obligations of Maker. Notwithstanding the provisions of ---------------------------------- the Other Notes that limit Maker's liability and Xxxxxxxx Payee's remedies thereunder (the "Nonrecourse Provisions"), Maker's liability under this Note is absolute and shall not be limited, diminished or affected in any way by the Nonrecourse Provisions or the exercise of any remedies by Xxxxxxxx Payee under the Other Notes or the Security Documents or under applicable law. Maker agrees that Xxxxxxxx Payee may exercise its rights and remedies under this Note and under the Other Notes and the Security Documents separately or concurrently and in any order that it may deem appropriate. Without limiting the generality of the foregoing, Maker agrees that if an Event of Default is continuing (i) Xxxxxxxx Payee shall have the right to pursue all of its rights and remedies in one proceeding, or separately and independently in separate proceedings from time to time in such order and manner as Xxxxxxxx Xxxxx, in its sole and absolute discretion, shall determine form time to time, (ii) Xxxxxxxx Payee is not required to either xxxxxxxx assets, sell the Property or any parcel thereof in any inverse order of alienation, or be subject to any "one action" or "election of remedies" law or rule, and (iii) the exercise by Xxxxxxxx Xxxxx of any remedies against any part of the Property will not impede Xxxxxxxx Payee from subsequently or simultaneously exercising remedies against any other part or parts of the Property or enforcing this Note against Maker. Xxxxxxxx Payee shall have the right to recover its damages hereunder in a separate proceeding brought for that purpose, or in any foreclosure action under any of the Security Documents, or by invocation of any of Xxxxxxxx Xxxxx's other rights and remedies thereunder or at law or equity; and Maker's liability under this Paragraph shall survive foreclosure under any Security Document. EXECUTED as of the date first above written. CORINTHIAN COLLEGES, INC., a Delaware corporation By: /s/ Xxxxx X. Xxxxx --------------------------------------- Name: Xxxxx X. Xxxxx ------------------------------------- Title: President/CEO ------------------------------------ EXHIBIT A Exhibit A-1 EXHIBIT B School; Location ---------------- Western Business College; Portland, OR Xxxxx Xxxxxx College; Colorado Springs, CO Parks College (North); Denver, CO Parks College (South); Aurora, CO Xxxxxxxx College; Las Vegas, NV Xxxxxxxx Xxxxxx College of Salt Lake City; Salt Lake City, UT ...
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Related to Full Recourse Obligations of Maker

  • Recourse Obligations The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect): (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect): (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).

  • Non-recourse Obligations Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the Holder.

  • Recourse Obligation This Agreement and the Obligations hereunder are fully recourse to the Borrower. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.

  • No Obligations of Borrower Nothing contained in this Article 10 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower to the Administrative Agent for the account of the Lenders, Borrower’s obligations to the Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

  • Payment of Indebtedness and Performance of Obligations The Borrower shall pay and discharge when due all lawful Indebtedness, obligations and claims for labor, materials and supplies or otherwise which, if unpaid, could reasonably be expected to (a) have a Material Adverse Effect on the Borrower or (b) give rise to the imposition of a Lien (other than a Permitted Lien) upon the property of the Borrower, unless and to the extent only that the validity of such Indebtedness, obligation or claim shall be contested in good faith and by appropriate proceedings diligently conducted by or on behalf of the Borrower, and provided that such reserve or other appropriate provision as shall be required in accordance with Applicable Accounting Principles shall have been made therefor.

  • OBLIGATIONS OF BORROWER Until payment in full of all Loan Facility Obligations and termination of the Loan Documents, Borrower agrees as follows:

  • Surety Obligations No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder.

  • Debt and Guaranty Obligations Schedule 7.1(t) is a complete and correct listing of all Debt and Guaranty Obligations of the Borrower and its Subsidiaries as of the Closing Date in excess of $1,000,000. The Borrower and its Subsidiaries have performed and are in compliance in all material respects with all of the terms of such Debt and Guaranty Obligations and all instruments and agreements relating thereto, and no default or event of default, or event or condition which with notice or lapse of time or both would constitute such a default or event of default on the part of the Borrower or any of its Subsidiaries exists with respect to any such Debt or Guaranty Obligation.

  • Conditions to the Obligations of Seller The obligation of Seller to consummate the transactions contemplated by this Agreement is subject to the satisfaction of the following conditions, any one or more of which may be waived in writing by Seller:

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