Common use of Mortgage Loan Event of Default Clause in Contracts

Mortgage Loan Event of Default. Notwithstanding anything to the contrary contained herein or the other Loan Documents, if compliance by Borrower or Mortgage Borrower with the provisions of this Loan Agreement would cause an Event of Default (as such term is defined in the Mortgage Loan Agreement) to occur, after the giving of notice or passage of any grace periods provided for in the Mortgage Loan Agreement, Borrower shall notify the Lender in writing and Borrower shall not be in default hereunder or under the other Loan Documents by reason of its failure to comply with such provisions. Lender reserves the right to modify any such provisions to prevent the occurrence of an Event of Default under the Mortgage Loan Agreement, in which case failure to comply with such modified provisions shall not be excused hereby. Furthermore, Borrower acknowledges and agrees that this Section 2.12 shall in no way relieve Borrower from the obligation to perform any obligation under the Loan Agreement or the other Loan Documents that may be performed by the payment of a sum of money.

Mortgage Loan Event of Default. Notwithstanding anything to the contrary contained herein or the other Loan Documents, if compliance by Borrower or Mortgage the Borrower with the provisions of this Loan Agreement would cause an Event of Default under (and as such term is defined in the in) any Mortgage Loan Agreement) Agreement to occur, after the giving of notice or passage of any grace periods provided for in the applicable Mortgage Loan Agreement, the Borrower shall notify the Lender in writing and the Borrower shall not be in default hereunder or under the other Loan Documents by reason of its failure to comply with such provisions. Lender reserves the right to modify any such provisions to prevent the occurrence of an Event of Default under the any Mortgage Loan Agreement, in which case failure to comply with such modified provisions shall not be excused hereby. Furthermore, the Borrower acknowledges and agrees that this Section 2.12 shall in no way relieve the Borrower from the obligation to perform any obligation under the Loan Agreement or the other Loan Documents that may be performed by the payment of a sum of money.

Mortgage Loan Event of Default. Notwithstanding anything to the contrary contained herein or the other Loan Documents, if compliance by Borrower or Mortgage the Borrower with the provisions of this Loan Agreement would cause an Event of Default (as such term is defined in the Mortgage Loan Agreement) to occur, after the giving of notice or passage of any grace periods provided for in the Mortgage Loan Agreement, the Borrower shall notify the Lender in writing and the Borrower shall not be in default hereunder or under the other Loan Documents by reason of its failure to comply with such provisions. Lender reserves the right to modify any such provisions to prevent the occurrence of an Event of Default under the Mortgage Loan Agreement, in which case failure to comply with such modified provisions shall not be excused hereby. Furthermore, the Borrower acknowledges and agrees that this Section 2.12 shall in no way relieve the Borrower from the obligation to perform any obligation under the Loan Agreement or the other Loan Documents that may be performed by the payment of a sum of money.