Lender’s Right to Complete Sample Clauses

Lender’s Right to Complete. Upon the occurrence and during the continuance of any Event of Default, in addition to any other remedies which Lenders may have pursuant to the Loan Documents, or as provided by statute or rule of law, Agent may enter upon the Leased Premises and construct, equip and complete Borrower's Work in accordance with the Borrower Construction Plans with such changes in the Borrower Construction Plans as Lenders may from time to time and in their sole discretion deem appropriate, all at the risk, cost and expense of Borrower. Lenders shall have the right at any and all times to discontinue any work commenced by it in respect of Borrower's Work or to change any course of action undertaken by it and shall not be bound to Borrower by any limitations or requirements of time whether set forth in this Agreement or otherwise. Lenders shall have the right and power, but shall not be obligated, to assume Borrower's interest under any contract made by or on behalf of Borrower in any way relating to Borrower's Work or the construction of Borrower's Work and to take over and use all or any part or parts of the labor, materials, supplies and equipment contracted for by or on behalf of Borrower, whether or not previously incorporated into Borrower's Work, all in the sole and absolute discretion of Lenders. In connection with any construction of Borrower's Work undertaken by Lenders pursuant to the provisions of this subsection, Lenders may (i) engage builders, contractors, architects, engineers and others for the purpose of furnishing labor, materials and equipment in connection with any construction of Borrower's Work, (ii) pay, settle or compromise all bills or claims which may become Liens against the Leased Premises, or any part of the Leased Premises, or which have been or may be incurred in any manner in connection with the construction, completion and equipping of Borrower's Work or for the discharge of Liens or defects in the title of the Leased Premises, or any part of the Leased Premises, and (iii) take such other action (including the employment of watchmen to protect the Leased Premises) or refrain from acting under this Agreement, as Lenders may in their sole and absolute discretion from time to time determine without any limitation whatsoever. Borrower shall be liable to reimburse Lenders for all sums paid or incurred for the construction, completion and equipping of Borrower's Work, whether such sums shall be paid or incurred pursuant to the provisions of this s...
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Lender’s Right to Complete. In the event of a default by Owner under any loan agreement with lender, the unperformed part of this Agreement will be performed by Consultant for the benefit and at the expense of lender, should lender so elect, provided that there is no significant interruption in the performance of Consultant’s services and all obligations of Owner to Consultant are paid or performed by lender or appropriate accommodations are agreed between Consultant and lender.
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Lender’s Right to Complete. In the event of a default by Owner under its construction loan agreement with its construction lender, the unperformed part of the Contract Documents will be performed by Contractor for the benefit and at the expense of the lender, should the lender so elect.
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Lender’s Right to Complete. Subject to the force majeure provision in the next paragraph, if Borrower at any time prior to the completion of the Improvements abandons the same, ceases work thereon for a period of more than twenty (20) days, fails to complete the erection of the Improvements strictly in accordance with the Plans and Specifications, except as to changes approved by Lender, makes material changes in the Plans and Specifications without first securing written approval of the Lender in accordance with Section 6 of this Agreement, fails to enforce any default by Tenant under the Lease, or otherwise fails to comply with the terms of this Agreement or the Mortgage, any such failure shall be a default hereunder and Lender shall have the right, but not the obligation, to complete the Improvements and the Liens granted under the Mortgage shall secure all amounts incurred by Lender in connection with such completion. Such amounts, together with an overhead and oversight fee of fifteen percent (15%) thereof, shall be due and owing from Borrower to Lender and (together with other amounts owing to Lender under the Loan and this Agreement) shall be fully secured by the Liens. In the event of Borrower’s default, Lender may terminate this Agreement, and/or the Lender, at its option, at any time thereafter, may enter into possession of the Property and perform any and all work and labor necessary to complete the Improvements; all sums so expended by the Lender, together with an overhead and oversight fee of fifteen percent (15%) thereof, shall be deemed advanced to Borrower and secured by the Mortgage.
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Lender’s Right to Complete. In the event of a default by Owner under its loan agreement, the unperformed part of this Agreement will be performed by Design/Builder for the benefit and at the expense of Owner's lender, should the lender so elect, provided that there is no interruption in the prosecution of the Work and all obligations of Owner to Design/Builder are paid or performed including payment of progress payments pending at the time of said default. If there are any delays or interruptions as a result of the lender assuming the obligations of Owner for any part of this Agreement, any additional cost involved and any changes in completion or occupancy dates necessitated by such delays or interruptions shall be subject to negotiation between the parties. As further consideration of this Agreement Design/Builder agrees to execute immediately upon request by Owner the Subordination Agreement attached hereto as Exhibit G. ---------
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Lender’s Right to Complete. In the event Lender determines in its sole discretion that (a) a Repair is not completed by the Completion Date, (b) a Repair, Replacement or Tenant Improvement is not being performed in a workmanlike or timely manner or has not been completed in a workmanlike or timely manner, or (c) Borrower has failed to commence any Additional Repairs or Additional Replacements within thirty (30) days after written request by Lender, Lender shall have the option to withhold disbursements for such unsatisfactory Repair, Replacement or Tenant Improvement, as the case may, proceed under existing contracts or contract with third parties to complete such Repair, Replacement or Tenant Improvement, as the case may be, and apply the funds remaining in the Completion/Repair Escrow Account, the Replacement Reserve Escrow Account or the Tenant Improvements and Leasing Commissions Reserve Escrow Account, as applicable, toward the labor and materials necessary to make or complete such Repair, Replacement or Tenant Improvement, as the case may be, in each case without providing any prior notice to Borrower, and to exercise any and all other remedies available to Lender upon an Event of Default pursuant to this Article 7.
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Lender’s Right to Complete 
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Related to Lender’s Right to Complete

  • Lender’s Right to Cure If any Ground Lease Default shall occur and be continuing, or if any Ground Lessor asserts that a Ground Lease Default has occurred (whether or not the Borrowers question or deny such assertion), then, subject to the terms and conditions of the applicable Ground Lease, Lender, upon five (5) Business Days' prior written notice to the Borrowers, unless Lender reasonably determines that a shorter period (or no period) of notice is necessary to protect Lender's interest in the Ground Lease, may (but shall not be obligated to) take any action that Lender deems reasonably necessary, including, without limitation, (i) performance or attempted performance of the applicable Borrower's obligations under the applicable Ground Lease, (ii) curing or attempting to cure any actual or purported Ground Lease Default, (iii) mitigating or attempting to mitigate any damages or consequences of the same and (iv) entry upon the applicable Ground Leased Property for any or all of such purposes. Upon Lender's request, each Borrower shall submit satisfactory evidence of payment or performance of any of its obligations under each Ground Lease. Lender may pay and expend such sums of money as Lender in its sole discretion deems necessary or desirable for any such purpose, and the Borrowers shall pay to Lender within five (5) Business Days of the written demand of Lender all such sums so paid or expended by Lender, together with interest thereon from the date of expenditure at the Default Rate.

  • Borrower’s Right to Cure (a) Notwithstanding anything to the contrary contained in Section 8.01, in the event of any Event of Default under any covenant set forth in Section 7.11 and until the expiration of the tenth (10th) day after the date on which financial statements are required to be delivered with respect to the applicable fiscal quarter hereunder, the Borrower may engage in a Permitted Equity Issuance to any of the Equity Investors and apply the amount of the Net Cash Proceeds thereof (the “Cure Amount”) to increase Consolidated EBITDA with respect to such applicable quarter; provided that such Net Cash Proceeds (i) are actually received by the Borrower during such fiscal period or after the last day of the fiscal period covered by such financial statements but no later than fifteen (15) days after the date on which financial statements are required to be delivered with respect to such fiscal quarter hereunder, (ii) are Not Otherwise Applied and (iii) do not exceed the aggregate amount necessary to cure such Event of Default under Section 7.11 for any applicable period. The Cure Amount used to calculate Consolidated EBITDA for one fiscal quarter shall be used and included when calculating Consolidated EBITDA for each Test Period that includes such fiscal quarter. The parties hereby acknowledge that this Section 8.05(a) may not be relied on for purposes of calculating any financial ratios other than as applicable to Section 7.11 and shall not result in any adjustment to any amounts other than the amount of the Consolidated EBITDA referred to in the immediately preceding sentence. (b) In each period of four fiscal quarters, there shall be at least two (2) fiscal quarters in which no cure set forth in Section 8.05(a) is made. (c) For the avoidance of doubt, the subsequent performance or observance of any term, covenant or agreement under Section 6.01, 6.02, 6.11 and 6.13 shall cure any Default in respect thereof under Section 8.01(c) notwithstanding that such performance or observance occurred beyond the time or period specified therefor in such Section and such Default shall thereupon be deemed cured and no longer existing or continuing unless the Loans shall have been accelerated and/or the Commitments terminated pursuant to Section 8.02(b); provided that the Borrower’s obligations under Section 6.03(a) shall not be relieved by this Section 8.05(c).

  • BUYER’S RIGHT TO CANCEL If after completion of an appraisal by a licensed appraiser, Buyer receives written notice from the Lender or the appraiser that the Property has appraised for less than the Purchase Price (a “Notice of Appraised Value”), Buyer may cancel the REPC by providing written notice to Seller (with a copy of the Notice of Appraised Value) no later than the Financing & Appraisal Deadline referenced in Section 24(c); whereupon the Xxxxxxx Money Deposit shall be released to Buyer without the requirement of further written authorization from Seller.

  • STUDENT’S RIGHT TO CANCEL You have the right to cancel this agreement and obtain a refund of charges paid through the attendance at the first class session, or the seventh day after enrollment, whichever is later.

  • Landlord’s Right to Cure If Landlord breaches any of its obligations under this Lease, Tenant shall notify Landlord in writing and shall take no action respecting such breach so long as Landlord promptly begins to cure the breach and diligently pursues such cure to its completion. Landlord may cure any default by Tenant; any expenses incurred shall become Additional Rent due from Tenant on demand by Landlord.

  • Lender’s Right to Perform If any Loan Party fails to perform any covenant or obligation contained herein and such failure shall continue for a period of five (5) Business Days after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its rights, powers or remedies as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause the performance of, such covenant or obligation, and all costs, expenses, liabilities, penalties and fines of Lender incurred or paid in connection therewith shall be payable by Borrower to Lender upon demand and if not paid shall be added to the Obligations (and to the extent permitted under applicable laws, secured by the Mortgages and the other Collateral Documents) and shall bear interest thereafter at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to Borrower of any such failure.

  • Right to Compel Performance Notwithstanding the foregoing, upon the occurrence of an event of Default, a non-Defaulting Interconnection Party shall be entitled to (a) commence an action to require the Defaulting Interconnection Party to remedy such Default and specifically perform its duties and obligations hereunder in accordance with the terms and conditions hereof, (b) withhold payments, (c) suspend performance hereunder, and (d) exercise such other rights and remedies as it may have in equity or at law; provided, however, that the Transmission Provider shall not terminate the Interconnection Service Agreement due to the failure of Interconnection Customer to make a payment hereunder unless such failure could reasonably be expected to have a material adverse effect on the Interconnected Transmission Owner.

  • LENDER'S RIGHTS Upon default, Lender may declare the entire unpaid principal balance on this Note and all accrued unpaid interest immediately due, and then Borrower will pay that amount.

  • Landlord’s Right to Enter Landlord and its agents shall have the right to enter the Leased Premises during normal business hours after giving Tenant reasonable notice (which shall be prior written notice except in the event of a circumstance which Landlord in good faith believes to be an emergency) and subject to Tenant’s reasonable security measures for the purpose of (i) inspecting the same; (ii) showing the Leased Premises to prospective purchasers, mortgagees or, during the last nine (9) months of the Lease Term or during any period that Tenant is in monetary or material non-monetary default beyond the applicable cure period, if any, expressly set forth in this Lease, tenants; (iii) making necessary alterations, additions or repairs; and (iv) performing any of Tenant’s obligations when Tenant has failed to do so after the expiration of any applicable notice and cure period expressly set forth in this Lease. Landlord shall have the right to enter the Leased Premises during normal business hours (or as otherwise agreed), subject to Tenant’s reasonable security measures, for purposes of supplying any maintenance or services agreed to be supplied by Landlord. Landlord shall have the right to enter the Common Areas during normal business hours for purposes of (i) inspecting the exterior of the Building and the Common Areas; (ii) posting notices of nonresponsibility (and for such purposes Tenant shall provide Landlord at least ten (10) days’ prior written notice of any work to be performed on the Leased Premises, as well as notice within one (1) day after the commencement of such work); and (iii) supplying any services to be provided by Landlord. Landlord shall also have the right, upon reasonable advance notice to Tenant, to access the Building’s vertical risers and the interstitial space above Tenant’s acoustical ceiling to connect new utility and communications lines from other floors to the base Building utility lines; all of such work shall be done after hours or on weekends. Any entry into the Leased Premises or the Common Areas obtained by Landlord in accordance with this paragraph shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Leased Premises, or an eviction, actual or constructive of Tenant from the Leased Premises or any portion thereof. Landlord shall conduct all of Landlord’s activities on the Leased Premises during such period of entry in a manner designed to cause minimal interference to Tenant and Tenant’s use of the Leased Premises.

  • Lenders Rights and Remedies (a) Upon the occurrence and continuation of an Event of Default (as defined in the Note), the Lender may exercise in respect of the Collateral, in addition to any and all other rights and remedies provided for herein or otherwise available to it under applicable law, all the rights and remedies of a secured party on default under applicable law, including, but not limited to, the UCC in effect at the time, and the Lender may also, without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or at Lender’s principal office or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Lender may deem commercially reasonable. The Lender may require the Company to assemble the Collateral and deliver it to a place designated by the Lender. The Lender may proceed to sell or otherwise dispose of the Collateral at public or private sale for cash or credit; provided, however, that the Company shall be credited with proceeds of such sale only when the proceeds are actually received by the Lender. The Company agrees that, to the extent notice of sale shall be required by law, at least 10 days’ notice to the Company at the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Lender shall not be obligated to make any sale of Collateral regardless of any notice of sale having been given. The Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor and such sale, without further notice, may be made at the time and place to which it was so adjourned. (b) Any cash held by the Lender as Collateral and all cash proceeds by Lender in respect of any sale of, collection from, other realization upon all or any part of the Collateral may, in the sole and arbitrary discretion of the Lender, shall be held by the Lender as Collateral for, and/or then or at any time thereafter applied in whole or in part by the Lender against, all or any part of the expenses and costs to exercise by the Lender of its rights hereunder, and to the Obligations then remaining unpaid as the Lender shall elect. Any surplus of such cash or cash proceeds held by the Lender and remaining after payment in full of the Obligations shall be paid over to the Company or to whomsoever may be lawfully entitled to receive such surplus. (c) All provisions contained herein pertaining to Lender’s remedies shall be and are severable and cumulative.

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