Common use of Lenders’ Default Clause in Contracts

Lenders’ Default. In the event of any default of the Loan Documents by any Lender or any claim by any Borrower related to the Loan Documents, the Borrowers’ sole and exclusive remedy against such Lender shall be a cause of action sounding in contract with damages limited to actual and direct damages incurred. No Lender shall in any event be liable to any Borrower or the Guarantor for ordinary negligence, delay in performance or any consequential, special, punitive, incidental or indirect damages, including without limitation, loss of profit or goodwill. No Lender shall in any event be liable to any Borrower or the Guarantor for any loss or damage directly or indirectly resulting from the furnishing of services or reports under this Agreement. With respect to any goods and services provided by any Lender, SUCH LENDER MAKES NO WARRANTIES, whether expressed or implied, including, without limitation, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, to any Borrower or the Guarantor. No Borrower shall have any cause of action against any Lender for a default of the Loan Documents unless the Borrowers first notify such Lender of the default and allow such Lender a reasonable time of at least thirty (30) Business Days to cure the default and such Lender fails to cure the default.

Lenders’ Default. In the event of any default of the Loan Documents by any Lender or any claim by any Borrower related to the Loan Documents, the Borrowers’ Borrower's sole and exclusive remedy against such Lender shall be a cause of action sounding in contract with damages limited to actual and direct damages incurred. No Lender shall not in any event be liable to any Borrower or the any Lease Guarantor for ordinary negligence, delay in performance or any consequential, special, punitive, incidental or indirect damages, including without limitation, loss of profit or goodwill. No Lender shall in any no event be liable to any Borrower or the any Lease Guarantor for any loss or damage directly or indirectly resulting from the furnishing of services or reports under this Agreement. With respect to any goods and services provided by any Lender, SUCH LENDER MAKES NO WARRANTIESwarranties, whether expressed or implied, including, without limitation, IMPLIED implied WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, to any Borrower or the Guarantorany LEASE GUARANTOR. No Borrower shall not have any cause of action against any Lender for a default of the Loan Documents unless the Borrowers Borrower first notify such notifies Lender of the default and allow such allows Lender a reasonable time of at least thirty (30) Business Days to cure the default and such Lender fails to cure the default.