Common use of Law; Judgments; Material Agreements; Approvals and Permits Clause in Contracts

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must comply with all laws, ordinances, regulations, and rules (federal, state, and local) and all judgments, orders, and decrees of any arbitrator, other private adjudicator, or Governmental Authority relating to Borrower, the Hotel, or the other assets, business, operations, or property of Borrower. Borrower must comply with all material agreements, documents, and instruments to which Borrower is a party or by which Borrower, the Hotel, or any of the other assets or property of Borrower are bound or affected. Borrower may not cancel or terminate any such agreements, documents or instruments if to do so would likely result in a Material Adverse Change. Borrower must comply with all Requirements (including, without limitation, as applicable, requirements of the Federal Aviation Administration and all conditions and requirements of all Approvals and Permits). Borrower must obtain and maintain in effect from time to time all Approvals and Permits required for the operation and management of the Hotel and the business activities and operations then being conducted by Borrower. Borrower must immediately provide Lender with written notice and explanation of any litigation involving Borrower in which the amount in dispute exceeds $250,000.00. In the event of any dispute that, in the good faith opinion of Xxxxxx, is likely to result in a Material Adverse Change or the failure of any condition precedent or covenant herein, Xxxxxx may agree to make Advances for the account of Borrower without prejudice to Xxxxxxxx’s rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers proper. All sums paid or agreed to be paid pursuant to such agreement must be for the account of Borrower and must be charged as an Advance.

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must shall comply with all laws, ordinances, regulations, and rules (federal, state, and local) and all judgments, orders, and decrees of any arbitrator, other private adjudicator, or Governmental Authority relating to Borrower, the HotelProject, or the other assets, business, operations, or property of Borrower. Borrower must shall comply with all material agreements, documents, and instruments to which Borrower is a party or by which Borrower, the HotelProject, or any of the other assets or property of Borrower are bound or affected. Borrower may shall not cancel or terminate any such agreements, documents or instruments if to do so would likely could result in a Material Adverse Change. Borrower must shall comply with all Requirements (including, without limitation, as applicable, requirements of the Federal Aviation Housing Administration and the Veterans Administration) and all conditions and requirements of all Approvals and Permits). Borrower must shall obtain and maintain in effect from time to time all Approvals and Permits required for the operation development and management marketing of the Hotel Project and the business activities and operations then being conducted by Borrower. Borrower must shall immediately provide Lender with written notice and explanation of any litigation involving Borrower in which the amount in dispute exceeds One Hundred Thousand Dollars ($250,000.00100,000.00). In the event of any dispute that, in the good faith opinion of XxxxxxLender, is likely to result in a Material Adverse Change or the failure of any condition precedent or covenant herein, Xxxxxx Lender may agree to make Advances for the account of Borrower without prejudice to XxxxxxxxBorrower’s rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers in its reasonable discretion deems proper, including without limitation agreements to indemnify a title insurer against possible assertion of lien claims and agreements to pay disputed amounts to contractors in the event Borrower is unable or unwilling to pay the same. All sums paid or agreed to be paid pursuant to such agreement must shall be for the account of Borrower and must shall be charged as an Advance.

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must shall comply with all laws, ordinances, regulations, and rules (federal, state, and local) and all judgments, orders, and decrees of any arbitrator, other private adjudicator, or Governmental Authority relating to Borrower, the HotelProjects, or the other assets, business, operations, or property of Borrower (but only if such non-compliance in connection with Borrower’s other assets, business, operations or property results in a Material Adverse Change). Borrower must shall comply with all material agreements, documents, and instruments to which Borrower is a party or by and which Borrower, concern the Hotel, or any of the other assets or property of Borrower are bound or affectedProjects. Borrower may shall not cancel or terminate any such agreements, documents or instruments if to do so would likely could result in a Material Adverse Change. Borrower must shall comply with all Requirements for the Projects (including, without limitation, as applicable, requirements of the Federal Aviation Housing Administration and the Veterans Administration) and all conditions and requirements of all Approvals and Permits)Permits for the Projects. Borrower must shall obtain and maintain in effect from time to time all Approvals and Permits required for the operation development and management marketing of the Hotel Project and the business activities and operations then being conducted by Borrower. Borrower must shall immediately provide Lender with written notice and explanation of any litigation involving Borrower in which the amount in dispute exceeds One Million Dollars ($250,000.001,000,000.00). In the event of any dispute that, in the good faith opinion of XxxxxxLender, is likely to could result in a Material Adverse Change or the failure fulfillment of any condition precedent or covenant herein, Xxxxxx Lender may agree to make Advances for the account of Borrower without prejudice to XxxxxxxxBorrower’s rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers in its reasonable discretion deems proper, including, without limitation, agreements to indemnify a title insurer against possible assertion of lien claims and agreements to pay disputed amounts to contractors in the event Borrower is unable or unwilling to pay the same. All sums paid or agreed to be paid pursuant to such agreement must shall be for the account of Borrower and must shall be charged as an Advance.

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must shall comply with all laws, ordinances, regulations, and rules (federal, state, and local) and all judgments, orders, and decrees of any arbitrator, other private adjudicator, or Governmental Authority relating to Borrower, the HotelProject, or the other assets, business, operations, or property of Borrower. Borrower must shall comply with all material agreements, documents, and instruments to which Borrower is a party or by which Borrower, the HotelProject, or any of the other assets or property of Borrower are bound or affected. Borrower may shall not cancel or terminate any such agreements, documents or instruments if to do so would likely could result in a Material Adverse Change. Borrower must shall comply with all Requirements (including, without limitation, as applicable, requirements of the Federal Aviation Housing Administration and the Veterans Administration) and all conditions and requirements of all Approvals and Permits). Borrower must shall obtain and maintain in effect from time to time all Approvals and Permits required for the operation development and management marketing of the Hotel Project and the business activities and operations then being conducted by Borrower. Borrower must shall immediately provide Lender with written notice and explanation of any litigation involving Borrower in which the amount in dispute exceeds One Million Dollars ($250,000.001,000,000.00). In the event of any dispute that, in the good faith opinion of XxxxxxLender, is likely to could result in a Material Adverse Change or the failure fulfillment of any condition precedent or covenant herein, Xxxxxx Lender may agree to make Advances for the account of Borrower without prejudice to Xxxxxxxx’s Borrower's rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers in its reasonable discretion deems proper, including, without limitation, agreements to indemnify a title insurer against possible assertion of lien claims and agreements to pay disputed amounts to contractors in the event Borrower is unable or unwilling to pay the same. All sums paid or agreed to be paid pursuant to such agreement must shall be for the account of Borrower and must shall be charged as an Advance.

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must agrees that Borrower will comply with with, and cause each of Borrower’s Subsidiaries to comply with, all laws, ordinances, regulations, and rules (federal, state, and local) and all judgments, orders, and decrees of any arbitrator, other private adjudicator, or Governmental Authority relating to Borrower, any Subsidiary of Borrower, the HotelApproved Subdivisions, any Lots, any Units or the other assets, business, operations, or property operations of Borrower or any Subsidiary of Borrower. Borrower must also agrees to comply with with, and cause each of Borrower’s Subsidiaries to comply with, all material agreements, documents, and instruments to which Borrower Borrower, or any Subsidiary of Borrower, is a party or by which Borrower, any Subsidiary of Borrower, the HotelApproved Subdivisions, any Lots, any Units, or any of the other assets of Borrower or property any Subsidiary of Borrower are bound or affected. Borrower may not cancel or terminate any such agreementsalso agrees to comply with, documents or instruments if and cause each Subsidiary of Borrower to do so would likely result in a Material Adverse Change. Borrower must comply with with, all Requirements (including, without limitation, as applicable, requirements of the Federal Aviation Housing Administration and the Veterans Administration) and all conditions and requirements of all Approvals and Permits). Borrower must Borrower, at its expense, will obtain and maintain in effect effect, and cause each Subsidiary of Borrower to obtain and maintain in effect, from time to time all Approvals and Permits required for the operation and management of the Hotel and the business activities and operations then being conducted by Borrower. Borrower must immediately provide Lender with written notice and explanation of any litigation involving Borrower in which the amount in dispute exceeds $250,000.00. In the event of any dispute that, in the good faith opinion of Xxxxxx, is likely to result in a Material Adverse Change or the failure of any condition precedent or covenant herein, Xxxxxx may agree to make Advances for the account of Borrower without prejudice to Xxxxxxxx’s rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers proper. All sums paid or agreed to be paid pursuant to such agreement must be for the account of Borrower and must its Subsidiaries and as may be charged as an Advancerequired to enable Borrower and its Subsidiaries to comply with their respective obligations hereunder and under the other Loan Documents.

Law; Judgments; Material Agreements; Approvals and Permits. Borrower must shall comply with all laws, ordinances, regulations, regulations and rules (federal, state, and local) and all judgments, orders, orders and decrees of any arbitrator, other private adjudicator, adjudicator or Governmental Authority relating to Borrower, the Hotel, Project or the other assets, business, operations, operations or property of Borrower. Borrower must shall comply with all material agreements, documents, documents and instruments to which Borrower is a party or by which Borrower, the Hotel, Project or any of the other assets or property of Borrower are bound or affected. Borrower may shall not cancel or terminate any such agreements, documents or instruments if to do so would likely could result in a Material Adverse Change. Borrower must shall comply with all Requirements (including, without limitation, as applicable, requirements of the Federal Aviation Housing Administration and the Veterans Administration) and all conditions and requirements of all Approvals and Permits). Borrower must shall obtain and maintain in effect from time to time all Approvals and Permits required for the operation development and management marketing of the Hotel Project and the business activities and operations then being conducted by Borrower. Borrower must shall immediately provide Lender with written notice and explanation of any litigation involving Borrower that, in which the amount Lender’s reasonable judgment if determined adversely to Borrower, would constitute a Material Adverse Change in dispute exceeds $250,000.00Borrower, Guarantor or any Project. In the event of any dispute that, in the good faith opinion of XxxxxxLender, is likely to could result in a Material Adverse Change or the failure fulfillment of any condition precedent or covenant herein, Xxxxxx Lender may agree to make Advances for the account of Borrower without prejudice to XxxxxxxxBorrower’s rights, if any, to recover such funds from the party to whom paid. Such agreement or agreements may take any form that Lender considers in its reasonable discretion deems proper, including, without limitation, agreements to indemnify a title insurer against possible assertion of lien claims and agreements to pay disputed amounts to contractors in the event Borrower is unable or unwilling to pay the same. All sums paid or agreed to be paid pursuant to such agreement must shall be for the account of Borrower and must shall be charged as an Advance.