Common use of GRADSKY WAIVERS Clause in Contracts

GRADSKY WAIVERS. Borrower Principal hereby waives each of the following: (a) Any rights of Borrower Principal of subrogation, reimbursement, indemnification, and/or contribution against Borrower or any other person or entity, and any other rights and defenses that are or may become available to Borrower Principal or any other person or entity by reasons of Sections 2787-2855, inclusive of the California Civil Code, or arising from the payment by Borrower Principal of any reimbursement obligations with respect to the Reserve Letter of Credit; (b) Any rights or defenses that may be available by reason of any election of remedies by Lender (including, without limitation, any such election which in any manner impairs, effects, reduces, releases, destroys or extinguishes Borrower Principal’s subrogation rights, rights to proceed against Borrower for reimbursement, or any other rights of Borrower Principal to proceed against any other person, entity or security, including but not limited to any defense based upon an election of remedies by Lender under the provisions of Section 580d of the California Code of Civil Procedure or any similar law of California or of any other State or of the United Sates); and (c) Any rights or defenses Borrower Principal may have because its obligations under this Agreement (the “Borrower Principal Obligations”) are secured by real property or any estate for years. These rights or defenses include, but are not limited to, any rights or defenses that are based upon, directly or indirectly, the application of Section 580a, Section 580b, Section 580d or Section 726 of the California Code of Civil Procedure to the Borrower Principal Obligations. The provisions of this subsection (c) mean, among other things:

GRADSKY WAIVERS. Borrower Principal hereby waives each of the following: (a) Any rights of Borrower Principal of subrogation, reimbursement, indemnification, and/or contribution against Borrower or any other person or entity, and any other rights and defenses that are or may become available to Borrower Principal or any other person or entity by reasons of Sections 2787-2855, inclusive of the California Civil Code, or arising from the payment by Borrower Principal of any reimbursement obligations with respect to the Reserve Letter of Credit; (b) Any rights or defenses that may be available by reason of any election of remedies by Lender (including, without limitation, any such election which in any manner impairs, effects, reduces, releases, destroys or extinguishes Borrower Principal’s 's subrogation rights, rights to proceed against Borrower for reimbursement, or any other rights of Borrower Principal to proceed against any other person, entity or security, including but not limited to any defense based upon an election of remedies by Lender under the provisions of Section 580d of the California Code of Civil Procedure or any similar law of California or of any other State or of the United Sates); and (c) Any rights or defenses Borrower Principal may have because its obligations under this Agreement (the “Borrower Principal Obligations”"BORROWER PRINCIPAL OBLIGATIONS") are secured by real property or any estate for years. These rights or defenses include, but are not limited to, any rights or defenses that are based upon, directly or indirectly, the application of Section 580a, Section 580b, Section 580d or Section 726 of the California Code of Civil Procedure to the Borrower Principal Obligations. The provisions of this subsection (c) mean, among other things:

GRADSKY WAIVERS. Borrower and Borrower Principal hereby waives waive each of the followingfollowing for the Properties located in the State of California as identified on Schedule I: (a) Any rights of Borrower Principal of subrogation, reimbursement, indemnification, and/or contribution against Borrower or any other person or entity, and any other rights and defenses that are or may become available to Borrower Principal or any other person or entity by reasons of Sections 2787-2855, inclusive of the California Civil Code, or arising from the payment by Borrower Principal of any reimbursement obligations with respect to the Reserve Letter of Credit; (b) Any rights or defenses that may be available by reason of any election of remedies by Lender (including, without limitation, any such election which in any manner impairs, effects, reduces, releases, destroys or extinguishes Borrower Principal’s subrogation rights, rights to proceed against Borrower for reimbursement, or any other rights of Borrower Principal to proceed against any other person, entity or security, including but not limited to any defense based upon an election of remedies by Lender under the provisions of Section 580d 580(d) of the California Code of Civil Procedure or any similar law of California or of any other State or of the United SatesStates); and (c) Any rights or defenses Borrower Principal may have because its obligations under this Agreement (the “Borrower Principal Obligations”) are secured by real property or any estate for years. These rights or defenses include, but are not limited to, any rights or defenses that are based upon, directly or indirectly, the application of Section 580a580(a), Section 580b580(b), Section 580d 580(d) or Section 726 of the California Code of Civil Procedure to the Borrower Principal Obligations. The provisions of this subsection (c) mean, among other things:

GRADSKY WAIVERS. Borrower Principal hereby waives each of the following: (a) Any rights of Borrower Principal of subrogation, reimbursement, indemnification, and/or contribution against Borrower or any other person or entity, and any other rights and defenses that are or may become available to Borrower Principal or any other person or entity by reasons of Sections 2787-2855, inclusive of the California Civil Code, or arising from the payment by Borrower Principal of any reimbursement obligations with respect to the Reserve Letter of Credit; (b) Any rights or defenses that may be available by reason of any election of remedies by Lender (including, without limitation, any such election which in any manner impairs, effects, reduces, releases, destroys or extinguishes Borrower Principal’s subrogation rights, rights to proceed against Borrower for reimbursement, or any other rights of Borrower Principal to proceed against any other person, entity or security, including but not limited to any defense based upon an election of remedies by Lender under the provisions of Section 580d of the California Code of Civil Procedure or any similar law of California or of any other State or of the United Sates); and (c) Any rights or defenses Borrower Principal may have because its obligations under this Agreement (the “Borrower Principal Obligations”) are secured by real property or any estate for years. These rights or defenses include, but are not limited to, any rights or defenses that are based upon, directly or indirectly, the application of Section 580aXxxxxxx 000x, Section 580bXxxxxxx 000x, Section 580d Xxxxxxx 000x or Section 726 of the California Code of Civil Procedure to the Borrower Principal Obligations. The provisions of this subsection (c) mean, among other things:

GRADSKY WAIVERS. With respect to the Whittier Property and the Stockton Property, Borrower Principal hereby waives each of the following: (a) Any rights of Borrower Principal of subrogation, reimbursement, indemnification, and/or contribution against Borrower Borrowers or any other person or entity, and any other rights and defenses that are or may become available to Borrower Principal or any other person or entity by reasons of Sections 2787-2855, inclusive of the California Civil Code, or arising from the payment by Borrower Principal of any reimbursement obligations with respect to the Reserve Letter of Credit; (b) Any rights or defenses that may be available by reason of any election of remedies by Lender (including, without limitation, any such election which in any manner impairs, effects, reduces, releases, destroys or extinguishes Borrower Principal’s subrogation rights, rights to proceed against Borrower Borrowers for reimbursement, or any other rights of Borrower Principal to proceed against any other person, entity or security, including but not limited to any defense based upon an election of remedies by Lender under the provisions of Section 580d 580(d) of the California Code of Civil Procedure or any similar law of California or of any other State or of the United Sates); and (c) Any rights or defenses Borrower Principal may have because its obligations under this Agreement (the “Borrower Principal Obligations”) are secured by real property or any estate for years. These rights or defenses include, but are not limited to, any rights or defenses that are based upon, directly or indirectly, the application of Section 580a580(a), Section 580b580(b), Section 580d 580(d) or Section 726 of the California Code of Civil Procedure to the Borrower Principal Obligations. The provisions of this subsection (c) mean, among other things: