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. In the event (i) a threatened or actual discharge or release of Hazardous Materials could affect the Property, whether or not the same originates or emanates from the Property or any contiguous real estate, or (ii) any non-compliance with any Environmental Law could affect the Property, activities at the Property or adjacent real properties, Administrative Agent may either (x) provide Indemnitor thirty (30) days notice and opportunity to remedy such discharge or threat of discharge or release or non-compliance with any Environmental Law, or (y) cause such work to be performed at the Property and take any and all other actions as Lender shall deem necessary or advisable to address the threatened or actual discharge or release of Hazardous Material or remedy the non-compliance with Environmental Laws. Indemnitor shall reimburse Administrative Agent for all costs and expenses whatsoever incurred on account of Administrative Agent’s action under this section, together with interest as hereinafter provided. Except as specifically set forth in this Agreement, Indemnitor shall release and forever discharge and covenants not to sue Administrative Agent and each Lender from and against any and all liability associated with such action, response or remedy under this Agreement. Indemnitor shall grant Administrative Agent and its designees access to the Property at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to make or cause such action as Administrative Agent determines is necessary to remedy any actual or threatened non-compliance with any Environmental Law. Administrative Agent may disclose to interested parties any information Administrative Agent has about the environmental condition or status of the Property, but shall be under no duty to disclose any such information except as may be required by law. Administrative Agent shall be under no duty to make any environmental assessment, audit or inspection of the Property, and in no event shall any action or lack of action by Administrative Agent or any Lender be or give rise to a representation that the Property is in compliance with any applicable law, nor shall Indemnitor be entitled to rely on any environmental assessment, audit or inspection completed by Administrative Agent or any Lender. Neither Administrative Agent nor any Lender owes any duty of care to protect Borrower or any person against, or to inform them of, ...
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.
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:
Lender Rights. Prior to the occurrence of an Event of Default or Act of Insolvency, each Lender agrees that it shall be bound by the instructions or directions of the Client and that it shall have no right of dissent or any similar rights. A Lender may, subject to the terms of the Securities Lending Agreement, deliver to the Administrator a Notice of Default (with a copy to Client) stating that an Event of Default has occurred under the Securities Lending Agreement wherein the Client remains solvent (i.e. the Event of Default is not due to an Act of Insolvency with respect to the Client) substantially in the form attached hereto as Exhibit B (a “Notice of Default”). Such Lender hereby covenants, for the benefit of the Client, that the Lender will not deliver a Notice of Default until all of the Lender’s rights of enforcement pursuant to the Securities Lending Agreement have fully accrued following an event of Default (as defined in the Securities Lending Agreement) by the Client and the expiration of any applicable notice requirement or grace period. The Administrator shall have no duty to determine whether the Lender has complied with the immediately preceding sentence nor shall such covenant by the Lender constitute a limitation on the Administrator’s right to act upon a Notice of Default without inquiry. The Administrator agrees to promptly notify the Client of its receipt of such Notice of Default and shall not act in accordance with Instructions from the Lender for the withdrawal, payment, transfer or other disposition with respect to that portion of the Collateral allocated to it until the passage of five (5) Business Days after Administrator’s receipt of such Notice of Default. Upon the passage of such five (5) Business Day period, unless Xxxxxx sends a written notice to Administrator revoking such Notice of Default substantially in the form attached hereto as Exhibit C (a “Notice of Revocation”), Administrator is authorized to act upon such Notice of Default, and shall, without inquiry and in reliance upon such Notice of Default, direct BMO to deliver to it that portion of the Collateral allocable to such Lender pursuant to the information contained in the Lender Data File. No such five (5) Business Day delay shall be imposed in a situation involving an Act of Insolvency with respect to the Client, as described in paragraph (b) of this Section. Delivery of such Notice of Default shall constitute a representation and warranty by the Lender that the Administrator’s...
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, notwithstanding anything herein to the contrary.
Lender Rights. In addition to any other right provided to any Lender by other provisions of this Agreement, any Lender shall have the right at any time during this Agreement to: (i) do or cause to be done any act or thing required of Renovar under this Agreement or any other agreement between City and Renovar, and any such act or thing performed or caused to be performed by such Lender shall have the effect of having been done by Renovar itself, (ii) realize on the security afforded such Lender by taking possession of all or any portion of the Facilities owned by Renovar and/or exercising foreclosure proceedings or power of sale or other remedy afforded in law or in equity or by security documents assigned to or entered into by the Lender, and (iii) subject to the restrictions noted in paragraph (b) of this Section, transfer, convey, or assign the interests of Renovar under this Agreement, and any other agreement between City and Renovar regarding the Facilities (together, the “City /Renovar Agreements”), to any purchaser of any foreclosure or secured party sale, whether such sale be conducted pursuant to court order, power of sale contained in the Lender mortgage or applicable law, and to acquire and succeed to the interest of Renovar under City /Renovar Agreements by virtue of any foreclosure or secured party sale, whether such sale be conducted pursuant to a court order, a power of sale contained in the Lender mortgage or applicable law, or by virtue of a deed and/or xxxx of sale and assignment in lieu thereof. City shall grant any Lender or its authorized designee immediate access to the Landfill and the Facilities to the extent necessary to remedy any breach or default of Renovar under this Agreement or in exercise of the Lender’s remedies under any security document. If Lender(s) are prohibited by any bankruptcy, insolvency, or judicial proceeding from commencing foreclosure proceedings or other actions to preserve their secured interest(s) in the Facilities and City /Renovar Agreements, any right of City to terminate any City /Renovar Agreement shall be suspended for so long as the Lender(s) diligently pursue such proceedings and cure any default in the payment of monies due City.
Lender Rights. If Lender elects to terminate this Agreement in accordance with ss.6, it may use and apply any funds deposited with it by the Borrower or Owner, regardless of the purpose for which such funds were deposited, in such manner and for such purposes as the Lender may determine. When an event or condition of default continues uncured for more than fifteen (15) days, Lender may, in addition to any and all other rights and remedies available to it, take possession of the Collateral and assume control of the Improvements and the work and cause them thereafter to be carried on in such manner as Lender may deem advisable. In such event Lender shall not be obligated to continue the Improvements to completion. To this end, the Lender or its agents may enter into and upon and take possession of the Collateral and perform any and all work and labor necessary to complete the Improvements substantially according to the Plans, and employ watchmen to protect the Collateral from injury. All supplies and construction materials of the Borrower at the time of such entry situated on or near the Collateral shall become the property of the Lender without payment therefor to be used in said completion and the Lender is given full power and authority to make such entry and to enter into such contracts or arrangements as may be necessary to complete the Improvements; money so expended by Lender shall be added to the principal amount of the Loan and be deemed to have been paid to the Borrower and secured by the Security Agreement and shall be payable by the Borrower on demand with interest at the same rate as is called for by the Note. Borrower and Owner each hereby assigns all its right, title and interest in and to all contracts, now or hereafter existing, for the Improvements, to the Lender for Lender's use in the event that it enters the Collateral for the purpose of completing the Improvements, but it is agreed that in any event Lender shall not be bound by any such contracts or under any obligation to fulfill the Borrower's or Owner's commitments thereunder unless and until Lender elects to do so in writing with the various contractors, material providers or other parties to such contracts. For the above purposes, the Borrower and Owner each hereby makes, constitutes and appoints the Lender its true and lawful attorney-in-fact with full power of substitution in the Collateral, with full, complete and irrevocable authorization to complete the Improvements in the name of the Borrow...
Lender Rights. 34 10.1 Subordination......................................................34 10.2 Attornment.........................................................34 10.3 REAs...............................................................34 10.4
Lender Rights. The Lessee agrees that the Lender has a first-ranking priority for its right, title, and interest in and to the Equipment and that the rights of the Lessee in and to the Equipment (including all rights to control, use, operate or possess same) and this Agreement are subject and subordinate to all rights of each and Lender in and to the Equipment under any applicable loan agreement, security agreement, conditional sale agreement, leasing agreement and or other lease or financing agreement, or any lien, charge or other encumbrance in favour of the Lender (including the right of the Lender to take possession of the Equipment upon a default by Mammoet under any agreement with Lender or upon the expiry of the term of any such agreement. The Lessee waives, as against Lender, any notice requirements, rights, and claims it may have or acquire respecting this Agreement and the Equipment. Lessee agrees to provide or cause to be provided to the Lender any and all releases, waivers, consents, subordination agreements, priority agreements, and other documents as may be required by Lender from time to time in the form satisfactory to the Lender to effect the foregoing first-ranking priority interest and waiver.
