Common use of Mortgage Loan Defaults Clause in Contracts

Mortgage Loan Defaults. (i) Borrower agrees to notify Lender promptly upon the occurrence of any default under the Mortgage Loan Documents. If any default occurs under the Mortgage Loan Documents, Borrower agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and perform any act or take any action on behalf of Borrower and/or Mortgage Borrower as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower to be performed or observed thereunder to be promptly performed or observed, and (B) pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower shall not impede, interfere with, hinder or delay, and shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on the part of Lender to cure any default or asserted default under the Mortgage Loan, or to otherwise protect or preserve Lender’s interests in the Loan and the Collateral following a default or asserted default under the Mortgage Loan.

Mortgage Loan Defaults. (i) 10.33.1 Borrower agrees to notify Lender promptly upon the occurrence of any default under the Mortgage Loan DocumentsDefault. If any default occurs under the Mortgage Loan DocumentsDefault occurs, Borrower agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and perform any act or take any action on behalf of Borrower and/or Mortgage Borrower as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower to be performed or observed thereunder to be promptly performed or observed, and (B) pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower shall not impede, interfere with, hinder or delay, and shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on the part of Lender to cure any default Mortgage Loan Default or asserted default under the Mortgage LoanLoan Default, or to otherwise protect or preserve Lender’s interests in the Loan and the Collateral following a default Mortgage Loan Default or asserted default under the Mortgage LoanLoan Default.

Mortgage Loan Defaults. (i) Borrower agrees to notify Lender promptly upon the occurrence of any default under the Mortgage Loan DocumentsDefault. If any default occurs under Upon the occurrence and during the continuation of a Mortgage Loan DocumentsDefault, in addition to Section 5.1.23 above, Borrower agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and perform any act or take any action on behalf of Borrower and/or Mortgage Borrower as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower to be performed or observed thereunder to be promptly performed or observed, and (B) pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower shall not impede, interfere with, hinder or delay, and shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on the part of Lender to cure any default or asserted default under the Mortgage LoanLoan or any Mortgage Loan Default, or to otherwise protect or preserve Lender’s interests in the Loan and the Collateral following a default or asserted default under the Mortgage LoanLoan Default.

Mortgage Loan Defaults. (ia) Without limiting the generality of the other provisions of this Agreement, and without waiving or releasing Borrower agrees to notify Lender promptly upon the occurrence from any of its obligations hereunder, if there shall occur any default under the Mortgage Loan Documents. If any default occurs under the Mortgage Loan Documents, Borrower hereby expressly agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation obligation: (i) to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and to perform any act or take any action on behalf of Borrower and/or Mortgage Borrower Owner as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower Owner to be performed or observed thereunder to be promptly performed or observed, ; and (Bii) to pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower All sums so paid and the costs and expenses incurred by Lender in exercising rights under this Section 11.2 (including attorneys’ fees) (i) shall not impede, interfere with, hinder or delay, and shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on the part constitute additional advances of Lender to cure any default or asserted default under the Mortgage Loan, or to otherwise protect or preserve Lender’s interests in the Loan to Borrower, (ii) shall increase the then unpaid Outstanding Principal Balance, (iii) shall bear interest at the Default Rate for the period from the date that such costs or expenses were incurred to the date of payment to Lender, (iv) shall constitute a portion of the Debt, (v) shall be secured by the Pledge Agreement and the Collateral (vi) shall be due and payable to Lender within five Business Days following a default or asserted default under the Mortgage Loanwritten demand therefor.

Mortgage Loan Defaults. (ia) Without limiting the generality of the other provisions of this Agreement, and without waiving or releasing Borrower agrees to notify Lender promptly upon the occurrence from any of its obligations hereunder, if there shall occur any default under the Mortgage Loan Documents. If any default occurs under the Mortgage Loan Documents, Borrower hereby expressly agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation obligation: (i) to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and to perform any act or take any action on behalf of Borrower and/or Mortgage Borrower as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower to be performed or observed thereunder to be promptly performed or observed, ; and (Bii) to pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower All sums so paid and the costs and expenses incurred by Lender in exercising rights under this Section 11.2 (including attorneys’ fees) (A) shall not impedeconstitute additional advances of the Loan to Borrower, interfere with(B) shall increase the then unpaid Principal, hinder (C) shall bear interest at the Default Rate for the period from the date that such costs or delayexpenses were incurred to the date of payment to Lender, (D) shall constitute a portion of the Debt, and (E) shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on be secured by the part of Lender to cure any default or asserted default under the Mortgage Loan, or to otherwise protect or preserve Lender’s interests in the Loan and the Collateral following a default or asserted default under the Mortgage LoanPledge Agreement.

Mortgage Loan Defaults. (ia) Without limiting the generality of the other provisions of this Agreement, and without waiving or releasing Borrower agrees to notify Lender promptly upon the occurrence from any of its obligations hereunder, if there shall occur any default under the Mortgage Loan Documents. If any default occurs Event of Default under the Mortgage Loan Documents, Borrower hereby expressly agrees that Lender shall have the immediate right, without prior notice to Borrower, but shall be under no obligation obligation: (x) to (A) pay all or any part of the Mortgage Loan and any other sums that are then due and payable, and to perform any act or take any action on behalf of Borrower and/or Mortgage Borrower as may be appropriate, to cause all of the terms, covenants and conditions of the Mortgage Loan Documents on the part of Mortgage Borrower to be performed or observed thereunder to be promptly performed or observed, ; and (By) to pay any other amounts and take any other action as Lender, in its sole and absolute discretion, shall deem advisable reasonably necessary to protect or preserve the rights and interests of Lender in the Loan and/or the Collateral. Borrower All sums so paid and the out-of-pocket costs and expenses incurred by Lender in exercising rights under this Section 14.2 (including attorneys’ fees) (i) shall not impedeconstitute additional advances of the Loan to Borrower, interfere with(ii) shall increase the then unpaid principal, hinder (iii) shall bear interest at the Default Rate for the period from the date that such costs or delayexpenses were incurred to the date of payment to Lender, (iv) shall constitute a portion of the Debt, and (v) shall not permit Mortgage Borrower to impede, interfere with, hinder or delay, any effort or action on be secured by the part of Lender to cure any default or asserted default under the Mortgage Loan, or to otherwise protect or preserve Lender’s interests in the Loan and the Collateral following a default or asserted default under the Mortgage LoanSecurity Documents.