Ground Lease Default. Notwithstanding anything contained herein, a default by Borrower under a Ground Lease (a “Ground Lease Default”) shall, for all purposes hereunder, constitute a default under the Senior Loan with respect to which Junior Lenders shall have the right to cure in accordance with this Section 15(g) whether or not Senior Lender has cured such Ground Lease Default. In connection with any Ground Lease Default, Senior Lender shall, subject to the limitations and conditions set forth below, comply with each of the following provisions, to the extent applicable:
Appears in 2 contracts
Samples: Intercreditor Agreement, Intercreditor Agreement (ESH Hospitality LLC)
Ground Lease Default. Notwithstanding anything contained hereinherein to the contrary, a default by Borrower under a Ground Lease Default (a “Ground Lease Default”defined below) shall, for all purposes hereunder, constitute a default under the Senior Loan with respect to which Junior Lenders shall have the right to cure in accordance with this Section 15(g15(r) whether or not Senior Lender has cured such Ground Lease Default. In connection with any default by the applicable Senior Borrower under a Ground Lease (a “Ground Lease Default”), Senior Lender shall, subject to the limitations and conditions set forth below, comply with each of the following provisions, to the extent applicable:
Appears in 1 contract
Samples: Intercreditor Agreement (Hcp, Inc.)
Ground Lease Default. Notwithstanding anything contained hereinherein to the contrary, a default by Borrower under a Ground Lease Default (a “Ground Lease Default”defined below) shall, for all purposes hereunder, constitute a default under the Senior Loan with respect to which Junior Lenders shall have the right to cure in accordance with this Section 15(g15(r) whether or not Senior Lender has cured such Ground Lease Default. In connection with any default by the applicable Senior Borrower under a Ground Lease (a "Ground Lease Default"), Senior Lender shall, subject to the limitations and conditions set forth below, comply with each of the following provisions, to the extent applicable:
Appears in 1 contract
Samples: Intercreditor Agreement (Hcp, Inc.)