GRANTOR'S WAIVERS. Grantor waives: (a) All statutes of limitations as a defense to any action or proceeding brought against Grantor by Beneficiary, to the fullest extent permitted by law; (b) Any right it may have to require Beneficiary to proceed against any Borrower or any other party, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue; (c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium; (d) All rights of marshaling in the event of foreclosure; (e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower; (f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding; (g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations; (h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and (i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in full.
Appears in 6 contracts
Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust II, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Real Estate Investment Trust II, Inc.), Deed of Trust (KBS Real Estate Investment Trust III, Inc.)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waivesagrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel:
(a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or oher matters whatever to defeat, reduce or affect the right of Grantee under the terms of this Security Deed to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Grantee under the terms of this Security Deed to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Further, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Security Deed or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. 105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Grantee to enforce any rights of Grantee against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 3 contracts
Samples: Deed to Secure Debt and Security Agreement (Merry Land Capital Trust), Deed to Secure Debt and Security Agreement (Merry Land Properties Inc), Deed to Secure Debt and Security Agreement (Merry Land Properties Inc)
GRANTOR'S WAIVERS. Except as prohibited by applicable law, Grantor waives:
waives any right to require Lender to (a) All statutes make any presentment, protest, demand, or notice of limitations as a defense to any action or proceeding brought against Grantor kind, including notice of change of any terms of repayment of the Indebtedness, default by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against any Borrower or any other partyguarantor or surety, any action or nonaction taken by Borrower, Lender, or any other guarantor or surety of Borrower, or the creation of new or additional Indebtedness; (b) proceed against any person, including Borrower, before proceeding against Grantor; (c) proceed against any collateral for the Indebtedness, including Borxxxxx'x collateral, before proceeding against Grantor; (d) apply any payments or exhaust proceeds received against the Indebtedness in any security held order; (e) give notice of the terms, time, and place of any sale of any collateral pursuant to the Uniform Commercial Code or any other law governing such sale; (f) disclose any information about the Indebtedness, the Borrower, any collateral, or any other guarantor or surety, or about any action or nonaction of Lender; or (g) pursue any remedy or course of action in Lenxxx'x power whatsoever. Grantor also waives any and all rights or defenses arising by reason of (h) any disability or other defense of Borrower, any other guarantor or surety or any other person: (i) the cessation from any cause whatsoever, other than payment in full, of the Indebtedness; (j) the application of proceeds of the Indebtedness by Borrower for purposes other than the purposes understood and intended by Grantor and Lender; (k) any act or omission or commission by Lender which directly or indirectly results in or contributes to the discharge of Borrower or any other partyguarantor or surety, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable lawIndebtedness, or the benefit of all laws now existing loss or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those release of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising collateral by operation of law or otherwise; (l) any statute of limitations in any action under this Agreement or on the Indebtedness; or (m) any modification or change in terms of the Indebtedness, whatsoever, including without limitation, the renewal, extension, acceleration, or other change in the time payment of the Indebtedness is due and any change in the interest rate. Grantor waives all rights and defenses arising out of an election of remedies by Lenxxx, xven though that election of remedies, such as nonjudicial foreclosure with respect to security for a guaranteed obligation, has destroyed Graxxxx'x rights of subrogation and reimbursement against Borrower by the operation of Section 580d of the California Code of Civil Procedure, or otherwise. This waiver includes, without limitation, any loss of rights Grantor may suffer by reason of any rights or protection of Borrower in connection with any anti-deficiency laws, other laws limiting or discharging the Indebtedness of Borrower's obligations (including, without limitation, Section 726, 580a, 580b, and 580d of the California Code of Civil Procedure). Grantor waives all rights and protections of any kind which Grantor may have for any reason, which would affect or limit the amount of any recovery by Lender from Grantor following a nonjudicial sale or judicial foreclosure of any Insolvency Proceedingreal or personal property security for the Indebtedness including, but not limited to, the right to any fair market value hearing pursuant to California Code of Civil Procedure Section 580a. Graxxxx xxderstands and agrees that the foregoing waivers are waivers of substantive rights and defenses to which Grantor might otherwise be entitled under state and federal law. The rights and defenses waived include, without limitation, those provided by California laws of suretyship and guaranty, anti-deficiency laws, and the Uniform Commercial Code. Grantor acknowledges that Grantor has provided these waivers of rights and defenses with the intention that they be fully relied upon by Lenxxx. Xntil all Indebtedness is paid in full, Grantor waives any right to enforce any remedy Lender may have against Borrower or any other guarantor, surety, or other person, and further, Grantor waives any right to participate in any collateral for the Indebtedness now or hereafter held by Lenxxx. If now or hereafter (a) Borrower shall be or become insolvent, and (iiib) the Indebtedness shall not at all times until paid be fully secured by collateral pledged by Borxxxxx, Xrantor hereby forever waives and relinquishes in favor of Lenxxx xxd Borrower, and their respective successors, any rejectionclaim or right to payment Grantor may now have or hereafter have or acquire against Borrower, disallowance by subrogation or disaffirmance otherwise, so that at no time shall Grantor be or become a "creditor" of any Borrower within the meaning of the Third Party Secured Obligations11 U.S.C. section 547(b), or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and successor provision of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullFederal bankruptcy laws.
Appears in 1 contract
Samples: Business Loan Agreement (California Beach Restaurants Inc)
GRANTOR'S WAIVERS. Except as prohibited by applicable law, Grantor waives:
(a) All statutes of limitations as a defense to waives any action or proceeding brought against Grantor by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary Lender to proceed against (A) make any presentment, protest, demand, or notice of any kind, including notice of change of any terms of repayment of the Indebtedness, default by Borrower or any other partyguarantor or surety, any action or nonaction taken by Borrower, Lender, or any other guarantor or surety of Borrower, or the creation of new or additional Indebtedness; (B) proceed against any person, including Borrower, before proceeding against Grantor; (C) proceed against any collateral for the Indebtedness, including Borrower's collateral, before proceeding against Grantor; (D) apply any payments or exhaust proceeds received against the Indebtedness in any security held order; (E) give notice of the terms, time, and place of any sale of any collateral pursuant to the Uniform Commercial Code or any other law governing such sale; (F) disclose any information about the Indebtedness, the Borrower, any collateral, or any other guarantor or surety, or about any action or nonaction of Lender; or (G) pursue any remedy or course of action in Lender's power whatsoever. Grantor also waives any and all rights or defenses arising by reason of (A) any disability or other defense of Borrower, any other guarantor or surety or any other person; (B) the cessation from any cause whatsoever, other than payment in full, of the Indebtedness; (C) the application of proceeds of the Indebtedness by Borrower for purposes other than the purposes understood and intended by Grantor and Lender; (D) any act of omission or commission by Lender which directly or indirectly results in or contributes to the discharge of Borrower or any other partyguarantor or surety, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable lawIndebtedness, or the benefit of all laws now existing loss or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those release of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising collateral by operation of law or from any Insolvency Proceeding, and otherwise; (iiiE) any rejection, disallowance statute of limitations in any action under this Agreement or disaffirmance of on the Indebtedness; or (F) any modification or change in terms of the Third Party Secured ObligationsIndebtedness, or any part of themwhatsoever, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. including without limitation, filingthe renewal, defendingextension, settling acceleration, or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from other change in the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and time payment of the existence, creation, or incurring of new or additional indebtedness, Indebtedness is due and demands any change in the interest rate. Grantor waives all rights and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or defenses arising out of any defense an election of remedies by Lender even though that any election of remedies, such as a non-judicial foreclosure with respect to security for a guaranteed obligation, has destroyed Grantor's rights of subrogation and reimbursement against Borrower may have to the payment or performance by operation of Section 580d of the Third Party Secured Obligations California Code of Civil Procedure or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Business Loan Agreement (Amphastar Pharmaceuticals, Inc.)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor agrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or any other matters whatsoever to defeat, reduce or affect the right of Beneficiary under the terms of this Security Instrument to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Beneficiary under the terms of this Security Instrument to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatsoever. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel waives, releases, relinquishes and forever forgoes:
(a) All all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; (c) all rights and periods of redemption provided under applicable law; and (d) all present and future statutes of limitations as a defense to any action to enforce the provisions of this Security Instrument or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby to the fullest extent permitted by law;
law and agrees that it shall not solicit or aid the solicitation of the filing of any Petition (bas hereinafter defined) Any right it may have to require Beneficiary to proceed against any Borrower Grantor, whether acting on its own behalf or on behalf of any other party. Without limiting the generality of the foregoing, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower;
(f) Any defense based on: Grantor shall not (i) provide information regarding the identity of creditors or the nature of creditors' claims to any legal disability third party unless compelled to do so by order of any Borrower, a court of competent jurisdiction or by regulation promulgated by a governmental agency; or (ii) any release, discharge, modification, impairment pay the legal fees or limitation of the liability expenses of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary creditor of or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, interest holder in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary Grantor with respect to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullmatter whatsoever.
Appears in 1 contract
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:agrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right
(a) All all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; (c) all rights and periods of redemption provided under applicable law; and (d) all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby to the fullest extent permitted by law;
law and agrees that it shall not solicit or aid the solicitation of the filing of any Petition (bas hereinafter defined) Any right it may have to require Beneficiary to proceed against any Borrower the Grantor, whether acting on its own behalf or on behalf of any other party. Without limiting the generality of the foregoing, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower;
(f) Any defense based on: Grantor shall not (i) provide information regarding the identity of creditors or the nature of creditors' claims to any legal disability third party unless compelled to do so by order of any Borrower, a court of competent jurisdiction or by regulation promulgated by a governmental agency; or (ii) any release, discharge, modification, impairment pay the legal fees or limitation of the liability expenses of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary creditor of or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, interest holder in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary Grantor with respect to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullmatter whatsoever.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Westcoast Hospitality Corp)
GRANTOR'S WAIVERS. Except as prohibited by applicable law, Grantor waives:
waives any right to require Lender to (aA) All statutes make any presentment, protest, demand, or notice of limitations as a defense any kind; (B) proceed against any person before proceeding against Grantor; (C) proceed against any collateral for the Indebtedness, including Borrower’s collateral, before proceeding against Grantor; (D) apply any payments or proceeds received against the Indebtedness in any order; (E) give notice of the terms, time, and place of any sale of any collateral pursuant to the Uniform Commercial Code or any other law governing such sale; (F) disclose any information about the Indebtedness, the Borrower, any collateral, or any other guarantor or surety, or about any action or proceeding brought against non-action of Lender; or (G) pursue any remedy or course of action in Lender’s power whatsoever. Grantor also waives any and all rights or defenses arising by Beneficiaryreason of (A) any disability or other defense of Borrower, any guarantor or surety or any other person; (B) the cessation from any cause whatsoever, other than payment in full, of the Indebtedness; (C) any act of omission or commission by Lender which directly or indirectly results in or contributes to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against any discharge of Borrower or any other party, proceed against guarantor or exhaust any security held from any Borrower or any other partysurety, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable lawIndebtedness, or the benefit of all laws now existing loss or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those release of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising collateral by operation of law or from any Insolvency Proceeding, and otherwise; or (iiiD) any rejection, disallowance modification or disaffirmance of any change in terms of the Third Party Secured ObligationsIndebtedness, or any part of themwhatsoever, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. including without limitation, filingthe renewal, defendingextension, settling acceleration, or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from other change in the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and time payment of the existence, creation, or incurring of new or additional indebtedness, Indebtedness is due and demands any change in the interest rate. Grantor waives all rights and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or defenses arising out of any defense an election of remedies by Lender even though that any election of remedies, such as a non-judicial foreclosure with respect to security for a guaranteed obligation, has destroyed Grantor’s rights of subrogation and reimbursement against Borrower may have to the payment or performance by operation of Section 580d of the Third Party Secured Obligations California Code of Civil Procedure or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
GRANTOR'S WAIVERS. Except as prohibited by applicable law, Grantor waives:
waives any right to require Lender to (a) All statutes make any presentment, protest, demand, or notice of limitations as a defense to any action or proceeding brought against Grantor kind, including notice of change of any terms of repayment of the Indebtedness, default by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against any Borrower or any other partyguarantor or surety, any action or nonaction taken by Borrower, Lender, or any other guarantor or surety of Borrower, or the creation of new or additional Indebtedness; (b) proceed against any person, including Borrower, before proceeding against Grantor; (c) proceed against any collateral for the Indebtedness, including Borxxxxx'x collateral, before proceeding against Grantor; (d) apply any payments or exhaust proceeds received against the Indebtedness in any security held order; (e) give notice of the terms, time, and place of any sale of any collateral pursuant to the Uniform Commercial Code or any other law governing such sale; (f) disclose any information about the Indebtedness, the Borrower, any collateral, or any other guarantor or surety, or about any action or nonaction of Lender; or (g) pursue any remedy or course of action in Lenxxx'x power whatsoever. Grantor also waives any and all rights or defenses arising by reason of (h) any disability or other defense of Borrower, any other guarantor or surety of any other person; (i) the cessation from any cause whatsoever, other than payment in full, of the Indebtedness; (j) the application of proceeds of the Indebtedness by Borrower for purposes other than the purposes understood and intended by Graxxxx xxd Lender; (k) any act of omission or commission by Lender which directly or indirectly results in or contributes to the discharge of Borrower or any other partyguarantor or surety, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable lawIndebtedness, or the benefit of all laws now existing loss or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those release of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising collateral by operation of law or otherwise; (l) any statute of limitations in any action under this Agreement or on the Indebtedness; or (m) any modification or change in terms of the Indebtedness, whatsoever, including without limitation, the renewal, extension, acceleration, or other change in the time payment of the Indebtedness is due and any change in the interest rate. Grantor waives all rights and defenses arising out of an election of remedies by Lenxxx, xven though that election of remedies, such as nonjudicial foreclosure with respect to security for a guaranteed obligation, has destroyed Graxxxx'x rights of subrogation and reimbursement against Borrower by the operation of Section 580d of the California Code of Civil Procedure, or otherwise. This waiver includes, without limitation, any loss of rights Grantor may suffer by reason of any rights or protections of Borrower in connection with any anti-deficiency laws, or other laws limiting or discharging the Indebtedness or Borrower's obligations (including without limitation, Section 726, 580a, 580b, and 580d of the California Code of Civil Procedure). Grantor waives all rights and protections of any kind which Grantor may have for any reason, which would affect or limit the amount of any recovery by Lender from Grantor following a nonjudicial sale or judicial foreclosure of any Insolvency Proceedingreal or personal property security for the Indebtedness including, but not limited to, the right to any fair market value hearing pursuant to California Code of Civil Procedure Section 580a. Graxxxx xxderstands and agrees that the foregoing waivers are waivers of substantive rights and defenses to which Grantor might otherwise be entitled under state and federal law. The rights and defenses waived include, without limitation, those provided by California laws of suretyship and guaranty, anti-deficiency laws, and the Uniform Commercial Code. Grantor acknowledges that Grantor has provided these waivers of rights and defenses with the intention that they be fully relied upon by Lenxxx. Xntil the Indebtedness is paid in full, Grantor waives any right to enforce any remedy Lender may have against Borrower or any other guarantor, surety, or other person, and further, Grantor waives any right to participate in any collateral for the Indebtedness now or hereafter held by Lenxxx. If now or hereafter (a) Borrower shall be or become insolvent, and (iiib) the Indebtedness shall not at all times until paid by fully secured collateral pledged by Borxxxxx, Xrantor hereby forever waives and relinquishes in favor of Lenxxx xxd Borxxxxx, xnd their respective successors, any rejectionclaim or right to payment Grantor may now have or hereafter have or acquire against Borrower, disallowance by subrogation or disaffirmance otherwise, so that at no time shall Grantor be or become a "creditor" of any Borrower within the meaning of the Third Party Secured Obligations11 U.S.C. section 547(b), or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and successor provision of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullFederal bankruptcy laws.
Appears in 1 contract
Samples: Business Loan Agreement (California Beach Restaurants Inc)
GRANTOR'S WAIVERS. Grantor waives:
(a) All statutes Grantor has read and hereby approves the Credit Agreement, the Intercreditor Agreement, the other Financing Documents, and all other agreements and documents relating thereto. Grantor acknowledges that it has been represented by counsel of limitations its choice to review this Deed to Secure Debt, the Financing Documents, and all other documents relating thereto and said counsel has explained and Grantor understands the provisions thereof.
(b) To the fullest extent permitted by applicable Law, Grantor hereby expressly waives diligence, demand, presentment, protest and notice of every kind and nature whatsoever (unless as a defense otherwise required under this Deed to Secure Debt) and waives any right to require Grantee or any other Senior Secured Party to enforce any remedy against any guarantor, endorser or other person whatsoever prior to the exercise of its rights and remedies hereunder or otherwise. To the fullest extent permitted by applicable Law, Grantor waives any right to require Grantee or any other Senior Secured Party to: (i) proceed or exhaust any collateral security given or held by Grantee or any other Senior Secured Party in connection with the Obligations; or (ii) pursue any other remedy in Grantee’s or any other Senior Secured Party’s power whatsoever.
(c) To the fullest extent permitted by applicable Law, until all Obligations shall have been paid indefeasibly in full, Grantor: (i) shall not have any right of subrogation to any of the rights of Grantee or any other Senior Secured Party against any guarantor, maker or endorser; (ii) waives any right to enforce any remedy which Grantee or other Senior Secured Party now has or may hereafter have against any other guarantor, maker or endorser; and (iii) waives any benefit of and any other right to participate in, any collateral security for the Obligations or any guaranty of the Obligations now or hereafter held by Grantee or any other Senior Secured Party.
(d) Subject to any applicable provisions of the Credit Agreement, Grantor hereby authorizes and empowers Grantee in its sole discretion, without any notice (except as expressly otherwise provided herein) or demand and without affecting the lien and charge of this Deed to Secure Debt; to exercise any right or remedy which Grantee or any other Senior Secured Party may have available to it, including, but not limited to, foreclosure, or exercise of rights of power of sale without judicial action as to any collateral security for the obligations, whether real, personal or proceeding brought intangible property.
(e) To the fullest extent permitted by applicable Law, the Grantor waives all rights and defenses arising out of an election of remedies by the creditor, even though that election of remedies, such as nonjudicial foreclosure with respect to security for a guaranteed obligation, has destroyed the Grantor’s rights of subrogation and reimbursement against the principal by the operation of the laws and court rules of the State in which the Land is located.
(f) To the fullest extent permitted by Law, Grantor by Beneficiaryhereby covenants and agrees that it shall not at any time insist upon or plead, or in any manner whatsoever claim or take any advantage of, any stay, exemption or extension law or any so-called “moratorium law” now or at any time hereafter in force, nor claim, take or insist upon any benefit or advantage of or from any law now or hereafter in force providing for the valuation or appraisement of the Property, or any part thereof; prior to any sale or sales thereof to be made pursuant to any provisions herein contained, or to any decree, judgment or order of any court of competent jurisdiction; or after such sale or sales claim or exercise any rights under any statute now or hereafter in force to redeem the property so sold, or any part thereof, to the extent such covenant and agreement is permitted by applicable Law, or relating to the marshaling thereof, upon foreclosure sale or other enforcement hereof. To the fullest extent permitted by Law, Grantor hereby expressly waives any and all rights it may have to require that the Property be sold as separate tracts or units in the event of foreclosure. To the fullest extent permitted by Law, Grantor hereby expressly waives any and all rights of redemption after sale under any order or decree of foreclosure of this Deed to Secure Debt, on its own behalf, on behalf of all Persons claiming or having an interest (direct or indirect) by, through or under Grantor and on behalf of each and every Person acquiring any interest in or title to the Real Property subsequent to the date hereof, it being the intent hereof that any and all such rights of redemption of Grantor and of all other Persons, are and shall be deemed to be hereby waived to the full extent permitted by applicable Law. To the fullest extent permitted by law;
(b) Any right , Grantor agrees that it may have shall not, by invoking or utilizing any applicable Law or laws or otherwise, hinder, delay or impede the exercise of any right, power or remedy herein or otherwise granted or delegated to require Beneficiary to proceed against any Borrower Grantee or any other partySenior Secured Party, proceed against or exhaust any security held from any Borrower or any other partybut shall suffer and permit the exercise of every such right, or pursue any other power and remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of as though no such law or from any Insolvency Proceeding, and (iii) any rejection, disallowance laws have been or disaffirmance of any of the Third Party Secured Obligations, will have been made or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullenacted.
Appears in 1 contract
GRANTOR'S WAIVERS. Except, as prohibited by applicable law, Grantor waives:
(a) All statutes of limitations as a defense to waives any action or proceeding brought against Grantor by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary Lender to proceed against (A) make any presentment, protest, demand, or notice of any kind, including notice of change of any terms of repayment of the Indebtedness, default by Borrower or any other partyguarantor or surety, any action or nonaction taken by Borrower, Lender, or any other guarantor or surety of Borrower, or the creation of new or additional Indebtedness; (B) proceed against any person, including Borrower, before proceeding against Grantor; (C) proceed against any collateral for the indebtedness, including Borrower’s collateral, before proceeding against Grantor; (D) apply any payments or exhaust proceeds received against the Indebtedness in any security held order; (E) give notice of the terms, time, and place of any sale of any collateral pursuant to the Uniform Commercial Code or any other law governing such sale; (F) disclose any information about the Indebtedness, the Borrower, any collateral, or any other guarantor or surety, or about any action or nonaction of Lender; or (G) pursue any remedy or course of action in Lender’s power whatsoever. Grantor also waives any and all rights or defenses arising by reason of (A) any disability or other defense of Borrower, any other guarantor or surety or any other person; (B) the cessation from any cause whatsoever, other than payment in full, of the Indebtedness; (C) the application of proceeds of the indebtedness by Borrower for purposes other than the purposes understood and intended by Grantor and Lender; (D) any act of omission or commission by Lender which directly or indirectly results in or contributes to the discharge of Borrower or any other partyguarantor or surety, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable lawIndebtedness, or the benefit of all laws now existing loss or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those release of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising collateral by operation of law or from any Insolvency Proceeding, and otherwise; (iiiE) any rejection, disallowance statute of limitations in any action under this Agreement or disaffirmance of on the Indebtedness; or (F) any modification or change in terms of the Third Party Secured ObligationsIndebtedness, or any part of themwhatsoever, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. including without limitation, filingthe renewal, defendingextension, settling acceleration, or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from other change in the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and time payment of the existence, creation, or incurring of new or additional indebtedness, Indebtedness is due and demands any change in the interest rate. Grantor waives all rights and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or defenses arising out of any defense an election of remedies by Lender even though that any election of remedies, such as a non–judicial foreclosure with respect to security for a guaranteed obligation, has destroyed Grantor’s rights of subrogation and reimbursement against Borrower may have to the payment or performance by operation of Section 580d of the Third Party Secured Obligations California Code of Civil Procedure or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Commercial Security Agreement (Primal Solutions Inc)
GRANTOR'S WAIVERS. Grantor waives:
(a) All statutes of limitations as a defense to any action or proceeding brought against Grantor by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against any Borrower or any other party, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement)kind; and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in full.
Appears in 1 contract
GRANTOR'S WAIVERS. Grantor waiveshereby waives and releases:
(a) All statutes of limitations as a defense to any action or proceeding brought against Grantor by BeneficiaryJURY TRIAL AND THE RIGHT THERETO IN ANY ACTION OR PROCEEDING BETWEEN GRANTOR AND BENEFICIARY, to the fullest extent permitted by lawWHETHER HEREUNDER OR OTHERWISE;
(b) Any right it may have to require all procedural errors, defects and imperfections in any proceeding instituted by Beneficiary to proceed against any Borrower under the Note or any other party, proceed against or exhaust any security held from any Borrower or any other partythis Deed of Trust, or pursue any other remedy in Beneficiary’s power to pursueboth;
(c) To all benefit that might accrue to Grantor by virtue of any present or future law exempting the extent permitted by applicable lawMortgaged Property, or any part of the benefit of all laws now existing proceeds arising from any sale thereof, from attachment, levy or which may hereafter be enacted sale on execution, or providing for any appraisementstay of execution, valuation, stay, extension, redemption exemption from civil process or moratoriumextension of time for payment;
(d) All rights unless specifically required herein, all notices of marshaling in Grantor’s default or of Beneficiary’s election to exercise, or Beneficiary’s actual exercise of any option under the event Note or this Deed of foreclosureTrust;
(e) Any defense based on after sale or sales of the Mortgaged Property any claim that Grantor’s obligations exceed right under any statute heretofore or are more burdensome than those of hereafter enacted to redeem the property so sold or any other Borrower;part thereof; and
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election right to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including the Mortgaged Property marshaled upon any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit foreclosure hereunder. The right is hereby given by Grantor and reserved by Beneficiary to any Borrower make partial release or releases of security hereunder, agreeable to Beneficiary without notice to, or the consent, approval or agreement of other parties in interest, which partial release or releases shall not impair in any Insolvency Proceeding, and manner the taking and holding by Beneficiary validity of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance priority of this Deed of Trust and on the security remaining, nor release the personal liability of Grantor for the existence, creation, debt hereby secured. Grantor hereby expressly waives all benefit or incurring advantage of new any such law or additional indebtednesslaws to the extent that it lawfully may, and demands covenants not to hinder, delay or impede the execution of any power herein granted or delegated to Beneficiary, but to suffer and notices permit the execution of every kind (other than notices expressly provided for under this Deed of Trust power as though no such law or under the Loan Agreement); and
(i) Any defense based on laws had been made or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullenacted.
Appears in 1 contract
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:
----------------- agrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Further, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby to the fullest extent permitted by law;
. Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to 11 U.S.C. (b) Any right it may have to require Beneficiary to proceed against any Borrower S)105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Nei Webworld Inc)
GRANTOR'S WAIVERS. Grantor waives:
(a) All statutes of limitations as a defense to any action or proceeding brought against Grantor by Beneficiary, to To the fullest full extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against , Grantor agrees that Grantor shall not at any Borrower time insist upon, plead, claim or any other party, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, take the benefit or advantage of all laws any law now existing or which may hereafter be enacted in force providing for any appraisement, valuation, stay, moratorium or extension, redemption or moratorium;
(d) All rights any law now or hereafter in force providing for the reinstatement of marshaling in the event indebtedness secured hereby prior to any sale of foreclosure;
(e) Any defense based on the Property to be made pursuant to any claim that Grantor’s obligations exceed provisions contained herein or are more burdensome than those prior to the entering of any other Borrower;
(f) Any defense based on: (i) any legal disability decree, judgment or order of any Borrowercourt of competent jurisdiction, (ii) or any release, discharge, modification, impairment or limitation of the liability of right under any Borrower statute to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, redeem all or any part of themthe Property so sold. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or any security held for any other matters whatsoever to defeat, reduce or affect the right of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance terms of this Deed of Trust and to a sale of the existenceProperty, creationfor the collection of the secured indebtedness without any prior or different resort for collection, or incurring the right of new or additional indebtedness, and demands and notices Beneficiary under the terms of every kind (other than notices expressly provided for under this Deed of Trust to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Grantor, for Grantor and Grantor’s successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel waives, releases, relinquishes and forever forgoes:
(a) all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or under intention to mature or declare due the Loan Agreementsecured indebtedness (except such notices as are specifically provided for herein); and
(b) all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) all rights and periods of redemption provided under applicable law to the fullest extent permitted by law and agrees that it shall not solicit or aid the solicitation of the filing of any Petition (as hereinafter defined) against the Grantor, whether acting on its own behalf or on behalf of any other party. Without limiting the generality of the foregoing, Grantor shall not (i) Any defense based on provide information regarding the identity of creditors or arising out the nature of creditors’ claims to any third party (other than Grantor’s attorneys, accountants or other consultants as necessary in the ordinary course of Grantor’s business) unless compelled to do so by order of a court of competent jurisdiction or by regulation promulgated by a governmental agency; or (ii) pay the legal fees or expenses of any defense that creditor of or interest holder in Grantor with respect to any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullmatter whatsoever.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Grubb & Ellis Healthcare REIT II, Inc.)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waivesagrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel:
(a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or oher matters whatever to defeat, reduce or affect the right of Grantee under the terms of this Security Deed to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Grantee under the terms of this Security Deed to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Further, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Security Deed or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. section 105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Grantee to enforce any rights of Grantee against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed to Secure Debt and Security Agreement (Merry Land Properties Inc)
GRANTOR'S WAIVERS. To the full extent permitted by law, Xxxxxxx agrees that Grantor waivesshall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. Grantor, for Grantor and Xxxxxxx's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel:
(a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or oher matters whatever to defeat, reduce or affect the right of Grantee under the terms of this Security Deed to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Grantee under the terms of this Security Deed to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Further, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Security Deed or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. 105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Grantee to enforce any rights of Grantee against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed to Secure Debt and Security Agreement (Merry Land Capital Trust)
GRANTOR'S WAIVERS. Grantor waives, to the extent permitted by applicable Laws:
(a) All statutes of limitations as a defense to any action or proceeding brought against Grantor by Beneficiary, to the fullest extent permitted by law;
(b) Any right it may have to require Beneficiary to proceed against any Borrower or any other party, proceed against or exhaust any security held from any Borrower or any other party, or pursue any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrower, (ii) any release, discharge, modification, impairment or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in full.
Appears in 1 contract
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:
agrees that Grantor shall not at any time insist upon, plead, xxxxx or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the Debt prior to any sale of the Trust Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Trust Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and fxx xxx and all xxxxxxs evex xxxxming any interest in the Trust Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the Debt (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshaling of the assets of Grantor, including the Trust Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Trust Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Trust Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Trust Property, for the collection of the Debt without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the Debt out of the proceeds of sale of the Trust Property in preference to every other claimant whatever. Furthermore, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the Debt to the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. ss.105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:
agrees that Grantor shall not at any time insist upon, pleax, xxxim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the Debt prior to any sale of the Trust Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Trust Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons exxx xxaiming any interest in the Trust Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the Debt (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshaling of the assets of Grantor, including the Trust Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Trust Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Trust Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Trust Property, for the collection of the Debt without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the Debt out of the proceeds of sale of the Trust Property in preference to every other claimant whatever. Furthermore, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the Debt to the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. ss.105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Ucc Fixture Filing (Apple Suites Inc)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:
agrees that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the indebtedness secured hereby prior to any sale of the Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Property so sold. Grantor, for Grantor and Grantor's successors and assigns, and for any and all persons ever claiming any interest in the Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the secured indebtedness (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshalling of the assets of Grantor, including the Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law-pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Property, for the collection of the secured indebtedness without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the indebtedness secured hereby out of the proceeds of sale of the Property in preference to every other claimant whatever. Further, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the indebtedness secured hereby the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. '105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Inland Diversified Real Estate Trust, Inc.)
GRANTOR'S WAIVERS. To the full extent permitted by law, Grantor waives:
agrees ----------------- that Grantor shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the Debt prior to any sale of the Trust Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Trust Property so sold. Grantor, for Grantor and Xxxxxxx's successors and assigns, and for any and all persons ever claiming any interest in the Trust Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the Debt (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshaling of the assets of Grantor, including the Trust Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Trust Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Trust Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Trust Property, for the collection of the Debt without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the Debt out of the proceeds of sale of the Trust Property in preference to every other claimant whatever. Furthermore, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the Debt to the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. ss.105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc)
GRANTOR'S WAIVERS. To the full extent permitted by law, Xxxxxxx agrees that Grantor waives:
shall not at any time insist upon, plead, claim or take the benefit or advantage of any law now or hereafter in force providing for any appraisement, valuation, stay, moratorium or extension, or any law now or hereafter in force providing for the reinstatement of the Debt prior to any sale of the Trust Property to be made pursuant to any provisions contained herein or prior to the entering of any decree, judgment or order of any court of competent jurisdiction, or any right under any statute to redeem all or any part of the Trust Property so sold. Grantor, for Grantor and Xxxxxxx's successors and assigns, and for any and all persons ever claiming any interest in the Trust Property, to the full extent permitted by law, hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel: (a) All waives, releases, relinquishes and forever forgoes all rights of valuation, appraisement, stay of execution, reinstatement and notice of election or intention to mature or declare due the Debt (except such notices as are specifically provided for herein); (b) waives, releases, relinquishes and forever forgoes all right to a marshaling of the assets of Grantor, including the Trust Property, to a sale in the inverse order of alienation, or to direct the order in which any of the Trust Property shall be sold in the event of foreclosure of the liens and security interests hereby created and agrees that any court having jurisdiction to foreclose such liens and security interests may order the Trust Property sold as an entirety; and (c) waives, releases, relinquishes and forever forgoes all rights and periods of redemption provided under applicable law. To the full extent permitted by law, Grantor shall not have or assert any right under any statute or rule of law pertaining to the exemption of homestead or other exemption under any federal, state or local law now or hereafter in effect, the administration of estates of decedents or other matters whatever to defeat, reduce or affect the right of Beneficiary under the terms of this Deed of Trust to a sale of the Trust Property, for the collection of the Debt without any prior or different resort for collection, or the right of Beneficiary under the terms of this Deed of Trust to the payment of the Debt out of the proceeds of sale of the Trust Property in preference to every other claimant whatever. Furthermore, Grantor hereby knowingly, intentionally and voluntarily, with and upon the advice of competent counsel, waives, releases, relinquishes and forever forgoes all present and future statutes of limitations as a defense to any action to enforce the provisions of this Deed of Trust or proceeding brought against Grantor by Beneficiary, to collect any of the Debt to the fullest extent permitted by law;
(b) Any right it may have . Grantor covenants and agrees that upon the commencement of a voluntary or involuntary bankruptcy proceeding by or against Grantor, Grantor shall not seek a supplemental stay or otherwise shall not seek pursuant to require Beneficiary to proceed against any Borrower 11 U.S.C. Section 105 or any other partyprovision of the Bankruptcy Reform Act of 1978, proceed against or exhaust any security held from any Borrower as amended, or any other partydebtor relief law (whether statutory, common law, case law, or pursue otherwise) of any jurisdiction whatsoever, now or hereafter in effect, which may be or become applicable, to stay, interdict, condition, reduce or inhibit the ability of Beneficiary to enforce any rights of Beneficiary against any guarantor or indemnitor of the secured obligations or any other remedy in Beneficiary’s power to pursue;
(c) To the extent permitted party liable with respect thereto by applicable law, the benefit of all laws now existing or which may hereafter be enacted providing for any appraisement, valuation, stay, extension, redemption or moratorium;
(d) All rights of marshaling in the event of foreclosure;
(e) Any defense based on any claim that Grantor’s obligations exceed or are more burdensome than those virtue of any other Borrower;
(f) Any defense based on: (i) any legal disability of any Borrowerindemnity, (ii) any release, discharge, modification, impairment guaranty or limitation of the liability of any Borrower to Beneficiary from any cause, whether consented to by Beneficiary or arising by operation of law or from any Insolvency Proceeding, and (iii) any rejection, disallowance or disaffirmance of any of the Third Party Secured Obligations, or any part of them, or any security held for any of them, in any such Insolvency Proceeding;
(g) Any defense based on any action taken or omitted by Beneficiary in any Insolvency Proceeding involving any Borrower, including. without limitation, filing, defending, settling or obtaining a judgment or order on any proof of claim or any adversary proceeding, making any election to have Beneficiary’s claim allowed as being secured, partially secured or unsecured, including any election under 11 U.S.C. Section 1111(b), seeking relief from the automatic stay or adequate protection, including submitting an appraisal of any security, voting to reject or accept or failing to vote on any reorganization plan, making any extension of credit by Beneficiary to any Borrower in any Insolvency Proceeding, and the taking and holding by Beneficiary of any security for any such extension of credit, whether or not such security is also security for the Third Party Secured Obligations;
(h) All presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind (other than notices expressly provided for under this Deed of Trust or under the Loan Agreement); and
(i) Any defense based on or arising out of any defense that any Borrower may have to the payment or performance of the Third Party Secured Obligations or any part of them other than payment and performance in fullotherwise.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc)
