Common use of Lender’s Right to Perform Clause in Contracts

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 13 contracts

Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of five (5) five Business Days after such Borrower’s receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof8.1, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand, together with interest thereon at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 10 contracts

Samples: Mezzanine Loan Documents (Strategic Storage Trust VI, Inc.), Mezzanine Loan Agreement (Strategic Storage Trust VI, Inc.), Mezzanine Loan Agreement (Strategic Storage Trust VI, Inc.)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 6 contracts

Samples: Loan Agreement (Lazard Freres Real Estate Investors LLC), Loan Agreement (Lazard Freres Real Estate Investors LLC), Loan Agreement (Lazard Freres Real Estate Investors LLC)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 5 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, from Lender, Lender may, but shall have no obligation to, itself perform, or cause performance of, of such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 2 contracts

Samples: Loan Agreement (Burnham Pacific Properties Inc), Loan Agreement (Burnham Pacific Properties Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of 84 written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.. MISCELLANEOUS -------------

Appears in 1 contract

Samples: Loan Agreement (Lazard Freres Real Estate Investors LLC)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lenderthereof, without in any way limiting Section 7.1 hereof, from Lender, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Mark Centers Trust)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such the relevant Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such any Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Continental Health Affiliates Inc)

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Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the reasonable expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Hallwood Realty Partners L P)

Lender’s Right to Perform. If any Borrower fails to perform ------------------------- any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such the Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, ------- --- Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

Lender’s Right to Perform. If any Borrower fails Borrowers fail to perform any covenant or obligation contained herein and such failure shall continue for a period of five (5) five Business Days after such Borrower’s Borrowers’ receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof8.1, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers to Lender upon demand, together with interest thereon at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower Borrowers of any such failure.

Appears in 1 contract

Samples: Loan and Security Agreement (FONU2 Inc.)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.failure for purposes of this Section 7.4. 77

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of (5) five Business Days after such Borrower’s 's receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereof, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.. 115 121

Appears in 1 contract

Samples: Loan Agreement (Alternative Living Services Inc)

Lender’s Right to Perform. If any Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of five (5) five Business Days after such Borrower’s receipt of written notice thereof from Lender, without in any way limiting Section 7.1 hereofLender following the occurrence and during the continuance of an Event of Default, Lender may, but shall have no obligation to, itself perform, or cause performance of, such covenant or obligation, and the expenses of Lender incurred in connection therewith shall be payable by Borrowers Borrower to Lender upon demand, together with interest thereon at the Default Interest Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to such Borrower of any such failure.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT II, Inc.)

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