Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right to exercise the remedies provided in the other Sections of this Article; provided that, if Lender becomes the owner of any ownership interest of any Person, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights as it may have by virtue of being an owner of such Person.
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Samples: Loan Agreement (United Development Funding IV), Loan Agreement (United Development Funding IV)
Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right right to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right right to exercise the remedies provided in the other Sections of this Article; provided that, that if Lender becomes the owner of any ownership interest of any Person, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights rights as it may have by virtue of being an owner of such Person.
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Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right to exercise control over the affairs and/or management of BorrowerBorrower or any Subsidiary, the power of Lender being limited to the Right to exercise the remedies provided in the other Sections of this Article; provided that, if Lender becomes the owner of any ownership interest stock of any Person, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights as it may have by virtue of being an owner a shareholder of such Person. Section 9.7.
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Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right right to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right right to exercise the remedies provided in the other Sections of this Article; provided that, if Lender becomes the owner of any ownership interest of any Person, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights rights as it may have by virtue of being an owner of such Person.
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Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right right or power to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right rights to exercise the remedies provided referred to in the other Sections of this Article; provided thatprovided, that if Lender becomes the owner of any ownership interest stock of any Personentity, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights rights as it may have by virtue of being an owner a shareholder of such Personentity.
Appears in 1 contract
Samples: Construction Loan Agreement (Micropac Industries Inc)
Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right right or power to exercise control over the affairs and/or management of Borrowerany Loan Party, the power of Lender being limited to the Right rights to exercise the remedies provided referred to in the other Sections of this Article; provided that, that if Lender becomes the owner of any ownership interest stock of any Personentity, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights rights as it may have by virtue of being an owner a shareholder of such Personentity.
Appears in 1 contract
Samples: Commercial Loan Agreement (Moody National REIT I, Inc.)
Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right right or power to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right rights to exercise the remedies provided referred to in the other Sections of this Article; provided that, that if Lender becomes the owner of any ownership interest stock of any Personentity, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights rights as it may have by virtue of being an owner a shareholder of such Personentity.
Appears in 1 contract
Samples: Construction Loan Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)
Lender Not in Control. None of the covenants or other provisions contained in this Agreement shall, or shall be deemed to, give Lender the Right Rights or power to exercise control over the affairs and/or management of Borrower, the power of Lender being limited to the Right to exercise the remedies provided in the other Sections of this ArticleArticle VII; provided that, if Lender becomes the owner of any ownership interest of any Personin Borrower, whether through foreclosure or otherwise, Lender shall be entitled to exercise such legal Rights as it may have by virtue of being an owner of such Personinterest in Borrower.
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Samples: Credit Agreement (Quest Medical Inc)