Lender Rights. If Borrower shall neglect or refuse: (a) to maintain and keep in good repair the Mortgaged Property or any part thereof as required by this Mortgage or the Loan Agreement, or (b) to maintain and pay the premiums for insurance which may be required by this Mortgage or the Loan Agreement, or (c) to pay and discharge all taxes of whatsoever nature, assessments and charges of every nature and to whomever assessed, as required by this Mortgage or the Loan Agreement, or (d) to pay the sums required to be paid by this Mortgage or the Loan Agreement, or (e) to satisfy any other terms or conditions of this Mortgage, or any instrument secured hereby, Lender may, at its election in each instance, but without any obligation whatsoever to do so, upon thirty (30) days' prior written notice (except in the case of (i) an emergency where there is danger to person or property, or (ii) required insurance coverage would lapse, or (iii) an Event of Default exists, in each of which events no notice shall be required), cause such repairs or replacements to be made, obtain such insurance or pay said taxes, assessments, charges, and sums, incur and pay reasonable amounts in protecting its rights hereunder and the security hereby granted, pay any balance due under any conditional agreement of sale (or lease) of any property included as a part of the Mortgaged Property, and pay any amounts asLender deems reasonably necessary or appropriate to satisfy any term or condition of this Mortgage, which Borrower shall have failed to satisfy, or to remedy any breach of such term or condition, and any amounts or expenses so paid or incurred, together with interest thereon from the date immediately following the fifth (5th) Business Day after an invoice setting forth such amounts and expenses is received by Borrower, at the Default Rate as provided in the Note or Loan Agreement. Such amounts and expenses shall be immediately due and payable by Borrower to Lender and until paid shall be secured hereby equally and ratably, and the same may be collected as part of said principal debt in any suit hereon or upon the Note. No payment by Lender shall relieve Borrower from any default hereunder or impair any right or remedy of Lender consequent thereon.
Lender Rights. (a) Lender shall have the right, but not the obligation, without in any way limiting Lender’s other rights and remedies under the Loan Documents, with the prior written consent of Indemnitor, to enter onto the Property, take and remove soil or groundwater samples, conduct tests and/or site assessments on any part of the Property or to take such other actions as it deems necessary or advisable to clean up, remove, resolve, or minimize the impact of, or otherwise deal with, any Hazardous Substances on or affecting the Property following receipt of any written notice from any person or entity asserting the existence or possible existence of any Hazardous Substances pertaining to the Property or any part thereof that, if true, could result in an Environmental Claim, order, notice, suit, imposition of a lien on the Property, or other action and/or that, in Lender’s reasonable opinion, could jeopardize Lender’s security under the Loan Documents. All reasonable third party out of pocket costs and expenses paid or incurred by Lender in the exercise of any such rights shall be payable by Indemnitor upon demand.
(b) Lender shall have the right at any time to appear in and to participate in, as a party if it elects, and be represented by counsel of its own choice in, any action or proceeding in connection with any Environmental Law that affects the Property. Upon demand by any Indemnified Party, Indemnitor shall defend any investigation, action or proceeding involving any matter covered by Indemnitor’s obligations hereunder which is brought or commenced against any Indemnified Party, whether alone or together with Borrower or any other person, all at Indemnitor’s own cost and by counsel to be approved by the Indemnified Party in the exercise of its reasonable judgment. In the alternative, any Indemnified Party may elect to conduct its own defense at the expense of Indemnitor. Indemnitor shall not, without the prior written consent of Lender: (a) settle or compromise any action, suit, proceeding or claim or consent to the entry of any judgment that does not include as an unconditional term thereof the delivery by the claimant or plaintiff to Lender of a full and complete written release of the Indemnified Parties (in form, scope and substance satisfactory to Lender in its sole discretion) from all liability in respect of such action, suit, proceeding or claim; or (b) settle or compromise any action, suit, proceeding or claim in any manner that may adversely affect the...
Lender Rights. Each Lender shall have the absolute right to exercise or to refrain from exercising any right such Lender has under this Agreement and the Collateral Documents, including the right to consent to an amendment, waiver or modification of any of such documents, and such Lender shall not incur any liability to any other Lender with respect to exercising or refraining from exercising any such right.
Lender Rights. The School Board acknowledges that the cost of the construction of the Schools is being partially financed by one or more lenders of the Contractor and that the lender will have a security interest in the Contractor’s rights in and to the DBFM Agreement and in this Agreement. The Province shall ensure that the lenders will not take security in the lands comprising the School Sites or in the Schools. Under the Direct Lender Agreement, upon the occurrence of specified events, the Lender (being the lender or lenders (or any trustee or other representative of such lenders) party to the Direct Lender Agreement) has, depending on the circumstances, the right, but not the obligation, to:
(a) cure Defaults of the Contractor or to cure subsisting grounds that gave rise to certain Termination Events;
(b) assume responsibility for the Contractor’s obligations under the DBFM Agreement and in that event assign the DBFM Agreement to a Suitable Substitute Contractor (as defined in the Direct Lender Agreement);
(c) exercise its Step-in Rights described in section 2.9 of the Direct Lender Agreement; or
(d) enter into a New DBFM Agreement and subsequently assign the New DBFM Agreement to a Suitable Substitute Contractor (as defined in the Direct Lender Agreement). The School Board agrees with the Province to permit the exercise of the above mentioned rights of the Lender upon notice from the Province regarding the exercise of such rights.
Lender Rights. The terms of Tenant’s Leasehold Mortgage will govern and control with respect to Xxxxxx’s rights and the terms of Landlord’s Fee Mortgage will govern and control with respect to Xxxxxxxx’s rights under this Article 12, notwithstanding anything herein to the contrary.
Lender Rights. 34 10.1 Subordination......................................................34 10.2 Attornment.........................................................34 10.3 REAs...............................................................34 10.4
Lender Rights. Without limiting the provisions of this Second Amendment, Owner acknowledges and agrees that, consistent with its acknowledgment in Section 3.1 of the Direct Agreement regarding the pledge of Concessionaire’s Interest pursuant to the terms and provisions of the Security Documents, this Second Amendment shall be pledged to the Collateral Agent pursuant to, and shall constitute “Collateral” under, and be subject to the terms of, the existing Security Documents.
Lender Rights. To secure Landlord’s lender, if any, against the impacts of an Event of Default hereunder, Tenant agrees that it shall execute such agreement(s) as Landlord’s lender may reasonably require to effectuate a collateral assignment of rents with respect to the rents payable to Tenant pursuant to the Third Party Tenant Leases.
Lender Rights. No single or partial exercise of any power hereunder shall preclude other or further exercises thereof or the exercise of any other power granted hereunder. Any delay or omission on the part of the Lender in exercising any right hereunder shall not operate as a waiver of such right or of any other right under this Note.
Lender Rights. The obligations of Borrower under this Agreement shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be released, suspended, discharged, terminated or otherwise affected by, any circumstances or occurrence except as specifically provided in this Agreement. The rights, powers and remedies of Lender under this Agreement shall be cumulative and not exclusive of any other right, power or remedy which Lender may have against Borrower or any other Person pledging collateral pursuant to the other Loan Documents or existing at law or in equity or otherwise. Lender’s rights, powers and remedies may be pursued singly, concurrently or otherwise, at such time and in such order as Lender may determine in Lender’s discretion. Lender shall have no duty to exercise any of the aforesaid rights, powers and remedies and shall not be responsible for any failure to do so or delay in so doing.
