Common use of No Election of Remedies Clause in Contracts

No Election of Remedies. Without limitation as to any other right or remedy provided to Lender in this Agreement or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender shall have the right to pursue all of its rights and remedies under this Agreement and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as Lender, in its sole and absolute discretion, shall determine from time to time, (ii) Lender shall not be required to either xxxxxxxx assets, sell any of the Collateral in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any “one action” or “election of remedies” law or rule with respect to any of the Collateral, (iii) the exercise by Lender of any remedies against any one item of Collateral will not impede Lender from subsequently or simultaneously exercising remedies against any other item of Collateral, (iv) all liens and other rights, remedies or privileges provided to Lender herein shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been sold and/or otherwise realized upon in satisfaction of the Indebtedness, and (v) Lender may resort for the payment of the Indebtedness to any security held by Lender in such order and manner as Lender, in its discretion, may elect and Lender may take action to recover the Indebtedness, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender thereafter to foreclose this Agreement.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Carey Watermark Investors 2 Inc), Pledge and Security Agreement (Carey Watermark Investors Inc)

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No Election of Remedies. (a) Without limitation as to any other right or remedy provided to Lender in this Agreement or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender shall have the right to pursue all of its rights and remedies under this Agreement and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as Lender, in its sole and absolute discretion, shall determine from time to time, (ii) Lender shall not be required to either xxxxxxxx mxxxxxxx assets, sell any of the Collateral in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any “one action” or “election of remedies” law or rule with respect to any of the Collateral, (iii) the exercise by Lender of any remedies against any one item of Collateral will not impede Lender from subsequently or simultaneously exercising remedies against any other item of Collateral, (iv) all liens and other rights, remedies or privileges provided to Lender herein shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been sold and/or otherwise realized upon in satisfaction of the IndebtednessDebt, and (v) Lender may resort for the payment of the Indebtedness Debt to any security held by Lender in such order and manner as Lender, in its discretion, may elect and Lender may take action to recover the IndebtednessDebt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender thereafter to foreclose this Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (New York REIT, Inc.)

No Election of Remedies. (a) Without limitation as to limiting any other right or remedy provided to Lender Mortgagee in this Agreement Mortgage or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender Mortgagee shall have the right to pursue all of its rights and remedies under this Agreement Mortgage and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as LenderMortgagee, in its sole and absolute discretion, shall determine from time to time, (ii) Lender Mortgagee shall not be required to either xxxxxxxx assets, sell any of the Collateral Property in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any "one action" or "election of remedies" law or rule with respect to any of the CollateralProperty, (iii) the exercise by Lender Mortgagee of any remedies against any one item of Collateral Property will not impede Lender Mortgagee from subsequently or simultaneously exercising remedies against any other item of CollateralProperty, (iv) all liens and other rights, remedies or privileges provided to Lender Mortgagee herein shall remain in full force and effect until Lender Mortgagee has exhausted all of its remedies against the Collateral Property and all Collateral Property has been foreclosed, sold and/or otherwise realized upon in satisfaction of the IndebtednessDebt, and (v) Lender Mortgagee may resort for the payment of the Indebtedness Debt to any security held by Lender Mortgagee in such order and manner as LenderMortgagee, in its discretion, may elect and Lender Mortgagee may take action to recover the IndebtednessDebt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender Mortgagee thereafter to foreclose this AgreementMortgage.

Appears in 1 contract

Samples: Leases and Rents and Security Agreement (Horizon Group Properties Inc)

No Election of Remedies. (a) Without limitation as to limiting any other right or remedy provided to Lender Beneficiary in this Agreement Deed of Trust or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender Beneficiary shall have the right to pursue all of its rights and remedies under this Agreement Deed of Trust and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as LenderBeneficiary, in its sole and absolute discretion, shall determine from time to time, (ii) Lender Beneficiary shall not be required to either xxxxxxxx assets, sell any of the Collateral Property in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any "one action" or "election of remedies" law or rule with respect to any of the CollateralProperty, (iii) the exercise by Lender Beneficiary or Trustee, as the case may be, of any remedies against any one item of Collateral Property will not impede Lender Beneficiary from subsequently or simultaneously exercising remedies against any other item of CollateralProperty, (iv) all liens and other rights, remedies or privileges provided to Lender Beneficiary herein shall remain in full force and effect until Lender Beneficiary has exhausted all of its remedies against the Collateral Property and all Collateral Property has been foreclosed, sold and/or otherwise realized upon in satisfaction of the IndebtednessDebt, and (v) Lender Beneficiary may resort for the payment of the Indebtedness Debt to any security held by Lender Beneficiary in such order and manner as LenderBeneficiary, in its discretion, may elect and Lender Beneficiary may take action to recover the IndebtednessDebt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender Beneficiary thereafter to foreclose this AgreementDeed of Trust.

Appears in 1 contract

Samples: And Security Agreement (Horizon Group Properties Inc)

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No Election of Remedies. (a) Without limitation as to limiting any other right or remedy provided to Lender Mortgagee in this Agreement Mortgage or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender Mortgagee shall have the right to pursue all of its rights and remedies under this Agreement Mortgage and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as LenderMortgagee, in its sole and absolute discretion, shall determine from time to time, (ii) Lender Mortgagee shall not be required to either xxxxxxxx assetsmaxxxxxx xssets, sell any of the Collateral Property in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any "one action" or "election of remedies" law or rule with respect to any of the CollateralProperty, (iii) the exercise by Lender Mortgagee of any remedies against any one item of Collateral Property will not impede Lender Mortgagee from subsequently or simultaneously exercising remedies against any other item of CollateralProperty, (iv) all liens and other rights, remedies or privileges provided to Lender Mortgagee herein shall remain in full force and effect until Lender Mortgagee has exhausted all of its remedies against the Collateral Property and all Collateral Property has been foreclosed, sold and/or otherwise realized upon in satisfaction of the IndebtednessDebt, and (v) Lender Mortgagee may resort for the payment of the Indebtedness Debt to any security held by Lender Mortgagee in such order and manner as LenderMortgagee, in its discretion, may elect and Lender Mortgagee may take action to recover the IndebtednessDebt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender Mortgagee thereafter to foreclose this AgreementMortgage.

Appears in 1 contract

Samples: And Security Agreement (Prime Retail Inc)

No Election of Remedies. (a) Without limitation as to any other right or remedy provided to Lender in this Agreement or the other Loan Documents, in the case of an Event of Default which has occurred and is continuing (i) Lender shall have the right to pursue all of its rights and remedies under this Agreement and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently in separate proceedings from time to time, as Lender, in its sole and absolute discretion, shall determine from time to time, (ii) Lender shall not be required to either xxxxxxxx marshal assets, sell any of the Collateral in any particular order of alienation (and may sell the same simultaneously and together or separately), or be subject to any "one action" or "election of remedies" law or rule with respect to any of the Collateral, (iii) the exercise by Lender of any remedies against any one item of Collateral will not impede Lender from subsequently or simultaneously exercising remedies against any other item of Collateral, (iv) all liens and other rights, remedies or privileges provided to Lender herein shall remain in full force and effect until Lender has exhausted all of its remedies against the Collateral and all Collateral has been sold and/or otherwise realized upon in satisfaction of the IndebtednessObligations in full or the Obligations have otherwise been satisfied in full, and (v) Lender may resort for the payment of the Indebtedness Obligations to any security held by Lender in such order and manner as Lender, in its sole and absolute discretion, may elect and Lender may take action to recover the IndebtednessObligations, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of Lender thereafter to foreclose this Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (Ares Commercial Real Estate Corp)

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