Common use of Lender's Attorneys' Fees and Expenses Clause in Contracts

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any of the Loan Documents, and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited to, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the Premises. All costs incurred by Lender, including attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, or (ii) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the Premises, or to attempt to enforce any security interest or Lien in all or on any part of the Premises, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Tower Realty Trust Inc)

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Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, Documents or the rights and powers of Lender under any of the Loan Documents, Documents and Borrower (in addition to Lender's reasonable attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's reasonable attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default default under this Agreement or any of the other Loan Documents, Documents or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or any of the other Loan Documents, Documents or which adversely affects Lender's the interests of Lender in the Premises Property or any part thereof, including, but not limited to, to eminent domain, or proceedings of any nature affecting the Premises Property or involving the bankruptcy, insolvency, arrangement, reorganization of, or other form of debtor relief with respect to to, Borrower or any other Significant Party or relating to a decedentParty, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the any other Loan DocumentsDocument, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the PremisesProperty. All reasonable costs incurred by Lender, including reasonable attorneys' fees and disbursements, in taking any action described above above, shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, if at any time hereafter, Lender employs counsel (ia) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises Property or any part thereof, this Agreement or any of the other Loan Documents, or (iib) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the PremisesProperty, or to attempt to enforce any security interest or Lien in all or on any part of the PremisesProperty, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the reasonable attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Golf Ventures Inc)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend If at any action or proceeding purporting time prior to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any repayment of the Loan Documents, and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited to, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the Premises. All costs incurred by Lender, including attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafterfull, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, been or shall thereafter be, filed, be filed and whether or not other legal proceedings have been, been or shall thereafter bebe instituted and, if such suit is filed or legal proceedings instituted, through all administrative, trial, and whether or not Lender shall be a party theretoappellate levels) with respect to the Loan, the Premises a Project or any part thereof, this Agreement or any of the other Loan Documents, including any proposed or (ii) actual restructuring of the Loan, or to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the PremisesBorrower’s interest in any Project, or to attempt to enforce any security interest or Lien in all or lien on any part of the PremisesBorrower’s interest in any Project, or to enforce any rights of Lender or any of Borrower's Borrowers’ obligations hereunder or under any of the other Loan Documents, or any obligations those of any other Person person, firm or corporation which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of any Borrower in connection with the Loan or any Project, or to analyze and respond to any request for consent or approval made by any Borrower, then, in any such event, all of the reasonable and actual attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating theretothereto (collectively the “Costs”), shall bear interest from the date expended at the “Interest Rate” provided in the Note, and shall be paid by Borrower upon demandBorrowers on demand therefor and if Borrowers fail to pay such Costs within ten (10) business days after demand payment thereof by Lender, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same such Costs shall be deemed to constitute protective advances evidenced by disbursement of the Note Loan proceeds hereunder (even if the total amount of disbursements would exceed the face amount of the Note) and shall constitute additional indebtedness of Borrowers to Lender, secured by the Mortgage Mortgages and the all other Loan DocumentsDocuments and bearing interest from ten (10) business days after demand at the Default Rate. Notwithstanding the foregoing, nothing herein shall obligate Borrowers to pay the Lender’s attorney fees and expenses in connection with any dispute with respect to the Loan which is determined in favor of Borrowers or any of them.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust III, Inc.)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any of the Loan Documents, and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited to, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the Premises. All costs incurred by Lender, including attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, or (ii) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the Premises, or to attempt to enforce any security interest or Lien in all or on any part of the Premises, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.generality

Appears in 1 contract

Samples: Loan Agreement (Mark Centers Trust)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect have a material adverse effect on the security of the Mortgage or the security interests granted under any of the other Loan Documents, Documents or the rights and powers of Lender under any of the Loan Documents, Documents and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's reasonable attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Event of Default under this Agreement or any of the other Loan Documents, Documents or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, Documents or which adversely affects has a material adverse effect on Lender's interests in the Premises Properties or any part thereof, including, but not not-limited to, to eminent domain, or proceedings of any nature affecting the Premises Properties or involving involves the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, Documents make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the PremisesProperties. All reasonable costs incurred by Lender, including reasonable attorneys' fees and disbursements, in taking any action described above above, shall be paid by Borrower upon demand together with interest thereon at the Default Applicable Interest Rate from the date paid which is ten (10) days after demand therefor by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, or (ii) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the Premises, or to attempt to enforce any security interest or Lien in all or on any part of the Premises, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (First Potomac Realty Trust)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, Documents or the rights and powers of Lender under any of the Loan Documents, Documents and Borrower (in addition to Lender's reasonable attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's reasonable attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default default under this Agreement or any of the other Loan Documents, Documents or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or any of the other Loan Documents, Documents or which adversely affects Lender's the interests of Lender in the Premises Property or any part thereof, including, but not limited to, to eminent domain, or proceedings of any nature affecting the Premises Property or involving the bankruptcy, insolvency, arrangement, reorganization of, or other form of debtor relief with respect to to, Borrower or any other Significant Party or relating to a decedentParty, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the any other Loan DocumentsDocument, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the PremisesProperties. All reasonable costs incurred by Lender, including reasonable attorneys' fees and disbursements, in taking any action described above above, shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, if at any time hereafter, Lender employs counsel (ia) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises Properties or any part thereof, this Agreement or any of the other Loan Documents, or (iib) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the PremisesProperties, or to attempt to enforce any security interest or Lien in all or on any part of the PremisesProperties, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the reasonable attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Golf Ventures Inc)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any of the Loan Documents, and Borrower (in addition to Lender's reasonable attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's reasonable attorneys' fees and expenses disbursements in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited towithout limitation, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without any obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action actions as Lender deems necessary or appropriate to protect Lender's interest in the PremisesPremises and the other Collateral. All costs incurred by Lender, including including, without limitation, reasonable attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (ia) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, Documents or (iib) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the Premises, or to attempt to enforce any security interest or Lien in all or on any part of the PremisesPremises or the other Collateral, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the reasonable attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrowerrepayment, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage Mortgages and other Loan Documents. Notwithstanding the foregoing provisions of this Section 4.16, Borrower shall not be required to pay Lender's attorneys' fees in connection with any collection or enforcement action or proceeding against Borrower or any other obligor under any of the other Loan DocumentsDocuments if Borrower or such other obligor is the prevailing party in such action or proceeding, as determined by a final nonappealable judgment or order of a court of competent jurisdiction.

Appears in 1 contract

Samples: Loan Agreement (Cedar Income Fund LTD /Md/)

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Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any of the Loan Documents, and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited to, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the Premises. All costs incurred by Lender, including attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand within thirty (30) days of written demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower if not paid within such thirty (30) day period, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, or (ii) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the Premises, or to attempt to enforce any security interest or Lien in all or on any part of the Premises, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon within thirty (30) days of demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by BorrowerBorrower if not paid within such thirty (30) day period, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (KSL Recreation Group Inc)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend any action or proceeding purporting to affect the security of the Mortgage Collateral or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any of the Loan Documents, and Borrower (in addition to Lender's reasonable attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's reasonable attorneys' fees and expenses disbursements in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage Pledge or the other Loan Documents, or which adversely affects Lender's interests in the Premises Collateral or any part thereof, including, but not limited towithout limitation, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or Borrower, any other Significant Party or any Borrower Affiliate or relating to a decedent, then Lender may, but without any obligation to do so, and without releasing Borrower or Borrower, any other Significant Party or any Borrower Affiliate from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action actions as Lender deems necessary or appropriate to protect Lender's interest in the PremisesCollateral. All costs incurred by Lender, including including, without limitation, reasonable attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage Pledge and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafter, Lender employs counsel (ia) for advice or other representation (whether or not any suit has been, or shall thereafter be, filed, and whether or not other legal proceedings have been, or shall thereafter be, instituted, and whether or not Lender shall be a party thereto) with respect to the Loan, the Premises or any part thereof, this Agreement or any of the other Loan Documents, Documents or (iib) to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the PremisesCollateral, or to attempt to enforce any security interest or Lien in all or on any part of the PremisesCollateral, or to enforce any rights of Lender or any of Borrower's obligations hereunder or under any of the other Loan Documents, or any obligations of any other Person which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of Borrower, then, in any such event, all of the reasonable attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating thereto, shall be paid by Borrower upon demand, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrowerrepayment, and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage Pledge and the other Loan Documents.other

Appears in 1 contract

Samples: Loan Agreement (Cedar Income Fund LTD /Md/)

Lender's Attorneys' Fees and Expenses. Borrower shall appear in and defend If at any action or proceeding purporting time prior to affect the security of the Mortgage or the security interests granted under any of the other Loan Documents, or the rights and powers of Lender under any repayment of the Loan Documents, and Borrower (in addition to Lender's attorneys' fees and expenses to be paid by Borrower otherwise pursuant to this Agreement or the other Loan Documents) shall pay all of Lender's attorneys' fees and expenses in connection with the enforcement of this Agreement and the other Loan Documents and the collection of all amounts payable hereunder and thereunder. In case of any Default under this Agreement or any of the other Loan Documents, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of the Mortgage or the other Loan Documents, or which adversely affects Lender's interests in the Premises or any part thereof, including, but not limited to, eminent domain, or proceedings of any nature affecting the Premises or involving the bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief with respect to Borrower or any other Significant Party or relating to a decedent, then Lender may, but without obligation to do so, and without releasing Borrower or any other Significant Party from any obligation hereunder or under the other Loan Documents, make such appearances, disburse such reasonable sums and take such action as Lender deems necessary or appropriate to protect Lender's interest in the Premises. All costs incurred by Lender, including attorneys' fees and disbursements, in taking any action described above shall be paid by Borrower upon demand together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower and the same shall be deemed to constitute protective advances evidenced by the Note and secured by the Mortgage and the other Loan Documents. In addition to, and without limiting the generality of, the foregoing, if, at any time hereafterfull, Lender employs counsel (i) for advice or other representation (whether or not any suit has been, been or shall thereafter be, filed, be filed and whether or not other legal proceedings have been, been or shall thereafter bebe instituted and, if such suit is filed or legal proceedings instituted, through all administrative, trial, and whether or not Lender shall be a party theretoappellate levels) with respect to the Loan, the Premises a Project or any part thereof, this Agreement or any of the other Loan Documents, including any proposed or (ii) actual restructuring of the Loan, or to protect, collect, lease, sell, take possession of, foreclose upon or liquidate all or any part of the PremisesBorrower’s interest in any Project, or to attempt to enforce any security interest or Lien in all or lien on any part of the PremisesBorrower’s interest in any Project, or to enforce any rights of Lender or any of Borrower's Borrowers’ obligations hereunder or under any of the other Loan Documents, or any obligations those of any other Person person, firm or corporation which may be obligated to Lender by virtue of this Agreement or any other agreement, instrument or document heretofore or hereafter delivered to Lender by or for the benefit of any Borrower in connection with the Loan or any Project, or to analyze and respond to any request for consent or approval made by any Borrower, then, in any such event, all of the reasonable and actual attorneys' fees and expenses arising from such services, and all expenses, costs and charges relating theretothereto (collectively the “Costs”), shall bear interest from the date expended at the “Interest Rate” provided in the Note, and shall be paid by Borrower upon demandBorrowers on demand therefor and if Borrowers fail to pay such Costs within ten (10) business days after demand for payment thereof by Lender, together with interest thereon at the Default Rate from the date paid by Lender through the date of repayment by Borrower, and the same such Costs shall be deemed to constitute protective advances evidenced by disbursement of the Note Loan proceeds hereunder (even if the total amount of disbursements would exceed the face amount of the Note) and shall constitute additional indebtedness of Borrowers to Lender, secured by the Mortgage Mortgages and the all other Loan DocumentsDocuments and bearing interest from ten (10) business days after demand at the Default Rate. Notwithstanding the foregoing, nothing herein shall obligate Borrowers to pay the Lender’s attorney fees and expenses in connection with any dispute with respect to the Loan which is determined in favor of Borrowers or any of them.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust III, Inc.)

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