Common use of NO CURE OR WAIVER Clause in Contracts

NO CURE OR WAIVER. Neither Grantee’s nor any receiver’s entry upon and taking possession of all or any part of the Property, nor any collection of rents, issues, profits, insurance proceeds, condemnation proceeds or damages, other security or proceeds of other security, or other sums, nor the application of any collected sum to any Secured Obligation, nor the exercise of any other right or remedy by Grantee or any receiver shall cure or waive any Default or notice of default under this Security Deed, or nullify the effect of any notice of default or sale (unless all Secured Obligations then due have been paid or performed and Grantor has cured all other Defaults hereunder), or impair the status of the security, or prejudice Grantee in the exercise of any right or remedy, or be construed as an affirmation by Grantee of any tenancy, lease or option or a subordination of the conveyance of security title to the Property.

NO CURE OR WAIVER. Neither Grantee’s nor any receiver’s entry upon and taking possession of all or any part of the PropertySubject Property and Collateral, nor any collection of rents, issues, profits, insurance proceeds, condemnation proceeds or damages, other security or proceeds of other security, or other sums, nor the application of any collected sum to any Secured Obligation, nor the exercise or failure to exercise of any other right or remedy by Grantee or any receiver shall cure or waive any breach, Default or notice of default under this Security Deed, or nullify the effect of any notice of default or sale (unless all Secured Obligations then due have been paid or and performed and Grantor has cured all other Defaults hereunderdefaults), or impair the status of the security, or prejudice Grantee in the exercise of any right or remedy, or be construed as an affirmation by Grantee of any tenancy, lease or option or a subordination of the conveyance lien of or security title to the Propertyinterests created by this Security Deed.