No Waiver by Lender. No waiver by Lender of any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective unless such waiver is in writing and signed by authorized officer(s) of Lender. Waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence shall not be deemed a waiver of any future transaction or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s right to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral that is junior to the lien of Lender, and without incurring liability to any Loan Party or any other Person by so doing.
Appears in 2 contracts
Samples: Construction Loan and Security Agreement (Item 9 Labs Corp.), Construction Loan and Security Agreement (Item 9 Labs Corp.)
No Waiver by Lender. Borrower agrees that Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender’s right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Borrower, or between Lender and a Guarantor, shall constitute a waiver of any of Lender’s rights or of any of Borrower’s or a Guarantor’s obligations as to any future transactions. No partial exercise by Lender of any right or remedy provided by hereunder shall preclude any other or further exercise of any such right or the Loan Documents or Governmental Requirements shall be effective unless such waiver is in writing and signed by authorized officer(s) exercise of Lenderany other remedy. Waiver The acceptance by Lender of any right payment after the due date of such payment, or remedy granted to Lender under in an amount which is less than the Loan Documents or Governmental Requirements as to any transaction or occurrence required payment, shall not be deemed a waiver of any future transaction or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s right to require prompt performance payment when due of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, payments or to exercise any right or remedy with respect to any failure to make prompt payment. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Enforcement by Lender (or Agent on its behalf) of any security for Borrower’s obligations under this Agreement shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right or remedy under the Loan Documents for any failure by a Loan Party available to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral that is junior to the lien of Lender, and without incurring liability to any Loan Party or any other Person by so doing.
Appears in 2 contracts
Samples: Commercial Loan Agreement, Commercial Loan Agreement (DERMAdoctor, LLC)
No Waiver by Lender. No waiver course of dealing or conduct by or among Lender of any right or remedy provided by the Loan Documents or Governmental Requirements and Borrower shall be effective unless such waiver is in writing and signed by authorized officer(s) to amend, modify or change any provisions of Lender. Waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence shall not be deemed a waiver of any future transaction or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, this Mortgage or the payment by Lender of any Indebtedness other Junior Loan Documents. No failure or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made delay by Lender to insist upon the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender strict performance of any term, covenant or agreement of this Mortgage or of any of the other right or remedy under the Junior Loan Documents, shall not constitute a waiver of Lender’s right to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right right, power or remedy under consequent upon a breach thereof, shall constitute a waiver of any such term, covenant or agreement or of any such breach, or preclude Lender from exercising any such right, power or remedy at any later time or times. By accepting payment after the due date of any of the Obligations, Lender shall not be deemed to waive the right either to require prompt payment when due of all other Obligations, or to declare an Event of Default for failure to make prompt payment of any such other Obligations. Neither Borrower nor any other Person now or hereafter obligated for the payment of the whole or any part of the Obligations shall be relieved of such liability by reason of (a) the failure of Lender to comply with any request of Borrower or of any other Person to take action to foreclose this Mortgage or otherwise enforce any of the provisions of this Mortgage, or (b) any agreement or stipulation between any subsequent owner or owners of the Property and Lender, or (c) Lender’s extending the time of payment or modifying the terms of this Mortgage or any of the other Junior Loan Documents without first having obtained the consent of Borrower or such other Person. Regardless of consideration, and without the necessity for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from by the holder of any Loan Party subordinate lien on the Property, Lender may release any Person at any time liable for any of the Obligations or any holder part of the security for the Obligations and may extend the time of payment or claimant otherwise modify the terms of a lien this Mortgage or any of the other interest Junior Loan Documents without in the Collateral that is junior to any way impairing or affecting the lien of Lender, and without incurring liability this Mortgage or the priority of this Mortgage over any subordinate lien. The holder of any subordinate lien shall have no right to terminate any Loan Party Lease regardless of whether or not such Lease is subordinate to this Mortgage. Lender may resort to the security or collateral described in this Mortgage or any of the other Person by so doingJunior Loan Documents in such order and manner as Lender may elect in its sole discretion.
Appears in 2 contracts
Samples: www.sec.gov, Behringer Harvard Opportunity REIT II, Inc.
No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Assignment unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Assignment shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s 's right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Assignment. No prior waiver by so doingLender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantors obligations as to any future transactions. Whenever the consent of Lender is required under this Assignment, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. ASSIGNMENT OF RENTS Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Assignment. Any party may change its address for notices under this Assignment by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantors current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
Appears in 1 contract
Samples: Assignment of Rents (Arts Way Manufacturing Co Inc)
No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Agreement unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Agreement shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Agreement, No prior waiver by so doingLender, nor any course of dealing between Lender and Borrower, or between Lender and any Grantor, shall constitute a waiver of any of Lender’s rights or of any of Borrower’s or any Grantor’s obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. BUSINESS LOAN AGREEMENT Loan No: 6824 (Continued) Page 7 Notices. Any notice required to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change its address for notices under this Agreement by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party’s address. For notice purposes, Borrower agrees to keep Lender informed at all times of Borrower’s current address. Unless otherwise provided or required by law, if there is more than one Borrower, any notice given by Lender to any Borrower is deemed to be notice given to all Borrowers.
Appears in 1 contract
No Waiver by Lender. No waiver by Lender of any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective unless such waiver is in writing and signed by authorized officer(s) of Lender. Waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence shall not be deemed a waiver of any future transaction or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Borrower under the Loan PartyDocuments, on a Loan PartyBorrower’s failure to do so, or the addition of any payment so made by Lender to the Secured ObligationsIndebtedness secured by the Collateral, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents Rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s right to require prompt performance of all other Secured Obligations of the Loan Parties Borrower under the Loan Documents and payment of the LiabilitiesIndebtedness, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party Borrower to timely and fully pay the Labilities Indebtedness and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from Borrower, any Guarantor of the Indebtedness and of the Secured Obligations under the Loan Party Documents, or any holder or claimant of a lien or other interest in the Collateral that is junior to the lien of Lender, and without incurring liability to any Loan Party Borrower or any other Person by so doing.
Appears in 1 contract
Samples: Construction Loan and Security Agreement (Acreage Holdings, Inc.)
No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Agreement unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Agreement shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s 's right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Agreement. No prior waiver by so doingLender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Notices. Any notice required to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change its address for notices Lender this Agreement by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
Appears in 1 contract
Samples: Commercial Security Agreement (Electronic Control Security Inc)
No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Agreement unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Agreement shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Agreement. No prior waiver by so doingLender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender’s rights or of any of Grantor’s obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. COMMERCIAL SECURITY AGREEMENT Notices. Any notice required to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change its address for notices under this Agreement by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party’s address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor’s current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
Appears in 1 contract
No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right rights under this Agreement, the Note, or remedy provided by the Loan Documents or Governmental Requirements shall be effective any other Related Document unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement, the Note, or any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence other Related Document shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s 's right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision hereof or thereof. No prior waiver by so doingLender, nor any course of dealing between Lender and Borrower, or between Lender and any Grantor, shall constitute a waiver of any of Lender's rights or of any of Borrower's or any Grantor's obligations as to any future transactions. Whenever the consent of Lender is BUSINESS LOAN AGREEMENT required under this Agreement, the Note, or any other Related Document, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent Is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Notices, Any notice required to be given under this Agreement, the Note, or any other Related Document shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change Its address for notices under this Agreement, the Note, and any other Related Document by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Borrower agrees to keep Lender informed at all times of Borrower's current address. Unless otherwise provided or required by law, if there is more than one Borrower, any notice given by Lender to any Borrower is deemed to be notice given to all Borrowers.
Appears in 1 contract
No Waiver by Lender. No waiver by Lender The failure to exercise the option to accelerate the maturity of this Note or any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective unless such waiver is in writing and signed by authorized officer(s) of Lender. Waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence shall not be deemed a waiver of any future transaction or occurrence. The acceptance of payment of any sum secured by the Collateral after its due dateother right, remedy, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender recourse available to the Secured Obligations, or holder hereof upon the exercise occurrence of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender an Event of any other right or remedy under the Loan Documents, Default hereunder shall not constitute a waiver of Lender’s the right of the holder of this Note to require prompt performance exercise the same at that time or at any subsequent time with respect to such Event of Default or any other Event of Default while such Event of Default is outstanding. The rights, remedies, and recourses of the holder hereof, as provided in this Note and in any other Loan Documents, shall be cumulative and concurrent and may be pursued separately, successively, or together as often as occasion therefor shall arise, at the sole discretion of the holder hereof. The acceptance by the holder hereof of any payment under this Note which is less than the payment in full of all other Secured Obligations amounts due and payable at the time of such payment shall not (1) constitute a waiver of or impair, reduce, release, or extinguish any right, remedy, or recourse of the holder hereof, or nullify any prior exercise of any such right, remedy, or recourse, or (ii) impair, reduce, release, or extinguish the obligations of any party liable under any of the Loan Parties under the Documents as originally provided herein or therein. Usury Savings Clause. This Note and all other Loan Documents are intended to be performed in accordance with, and payment only to the extent permitted by, all applicable usury laws. If any provision hereof or of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements the application thereof to any person or circumstance shall, for any reason and to any extent, be invalid or unenforceable, neither the application of such provision to any other person or circumstance nor the remainder of the instrument in which such provision is contained shall be affected thereby, and all provisions shall be enforced to the greatest extent permitted by law. It is expressly stipulated and agreed to be the intent of the holder hereof to at all times comply with the usury and other applicable laws now or hereafter governing the interest payable on the indebtedness evidenced by this Note. If the applicable law is ever revised, repealed, or judicially interpreted so as to render usurious any amount called for under this Note or under any other Loan Documents, or contracted for, charged, taken, reserved, or received with respect to the indebtedness evidenced by this Note, or if Lender's exercise of the option to accelerate the maturity of this Note or if any prepayment by Borrower results in Borrower having paid any interest in excess of that permitted by law, then it is the express intent of Borrower and Lender that all excess amounts theretofore collected by Lender be credited on the principal balance of this Note (or, if this Note and all other indebtedness arising under or pursuant to the other Loan Documents have been paid in full, refunded to Borrower), and the provisions of this Note and the other Loan Documents immediately be deemed reformed and the amounts thereafter collectable hereunder and thereunder reduced, without notice the necessity of the execution of any new document, so as to comply with the then-applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder or consent thereunder. All sums paid, or agreed to be paid, by Borrower for the use, forbearance, detention, taking, charging, receiving, or reserving of the indebtedness of Borrower to Lender under this Note or arising under or pursuant to the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full term of such indebtedness until payment in full so that the rate or amount of interest on account of such indebtedness does not exceed the usury ceiling from time to time in effect and applicable to such indebtedness for so long as such indebtedness is outstanding. To the extent federal law permits Lender to contract for, charge, or receive a greater amount of interest, Lender will rely on federal law instead of Texas Finance Code, for the purpose of determining the Maximum Rate. Additionally, to the maximum extent permitted by applicable law now or hereafter in effect, Lender may, at its option and from time to time, implement any other method of computing the Maximum Rate under the Texas Finance Code, or under other applicable law by giving notice, if required, to Borrower as provided by applicable law now or hereafter in effect. Notwithstanding anything to the contrary contained herein or in any other Loan Party Documents, it is not the intention of Lender to accelerate the maturity of any interest that has not accrued at the time of such acceleration or to collect unearned interest at the time of such acceleration. Applicability of Laws. In no event shall Chapter 346 of the Texas Finance Code (which regulates certain revolving loan accounts and revolving tri-party accounts) apply to this Note. To the extent that Chapter 303 of the Texas Finance Code is applicable to this Note, the "weekly ceiling" specified in Chapter 303 is the applicable ceiling; provided that, if any holder applicable law permits greater interest, the law permitting the greatest interest shall apply. Attorneys Fees. If this Note is placed in the hands of an attorney for collection, or claimant of a lien is collected in whole or in part by suit or through bankruptcy, or other interest legal proceedings of any kind, Borrower agrees to pay, in the Collateral that is junior addition to the lien all other sums payable hereunder, all costs and expenses of Lendercollection, including but not limited to reasonable attorneys fees. Borrower's Waiver. Except as expressly provided herein, Borrower and any and all endorsers and guarantors of this Note severally waive presentment for payment, notice of nonpayment, protest, demand, notice of protest, notice of intent to accelerate, notice of acceleration and dishonor, diligence in enforcement and indulgences of every kind and without incurring liability further notice hereby agree to any Loan Party renewals, extensions, exchanges or any other Person by so doingreleases of collateral, taking of additional collateral, indulgences, or partial payments, either before or after maturity.
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No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Agreement unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Agreement shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s 's right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Agreement. No prior waiver by so doingLender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. COMMERCIAL SECURITY AGREEMENT (CONTINUED) PAGE 4 =========================================================================== NOTICES. Subject to applicable law, and except for notice required or allowed by law to be given in another manner, any notice required to be given under this Agreement shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Agreement. Any party may change its address for notices under this Agreement by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Subject to applicable law, and except for notice required or allowed by law to be given in another manner, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors.
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No Waiver by Lender. No waiver by Lender of shall not be deemed to have waived any right or remedy provided by the Loan Documents or Governmental Requirements shall be effective rights under this Agreement unless such waiver is given in writing and signed by authorized officer(s) of Lender. Waiver No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of any right or remedy granted to Lender under the Loan Documents or Governmental Requirements as to any transaction or occurrence a provision of this Agreement shall not be deemed a waiver of any future transaction prejudice or occurrence. The acceptance of payment of any sum secured by the Collateral after its due date, or the payment by Lender of any Indebtedness or the performance by Lender of any Secured Obligations of a Loan Party, on a Loan Party’s failure to do so, or the addition of any payment so made by Lender to the Secured Obligations, or the exercise of Lender’s right to enter the Real Property Collateral and receive and collect the rents from it, or the assertion by Lender of any other right or remedy under the Loan Documents, shall not constitute a waiver of Lender’s 's right otherwise to require prompt performance of all other Secured Obligations of the Loan Parties under the Loan Documents and payment of the Liabilities, or to exercise any other right or remedy under the Loan Documents for any failure by a Loan Party to timely and fully pay the Labilities and perform its Secured Obligations under the Loan Documents. Lender may waive any right or remedy under the Loan Documents or Governmental Requirements without notice to or consent from any Loan Party or any holder or claimant of a lien or other interest in the Collateral demand strict compliance with that is junior to the lien of Lender, and without incurring liability to any Loan Party provision or any other Person provision of this Agreement. No prior waiver by so doing.Lender, nor any course of dealing between Lender and Creditor, shall constitute a waiver of any of Lender's rights or of any of Creditor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. WAIVE JURY. ALL PARTIES TO THIS AGREEMENT HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY. SUBORDINATION AGREEMENT LOAN NO: 932900001-1 (CONTINUED) PAGE 3 ==============================================================================
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Samples: Subordination Agreement (International Remote Imaging Systems Inc /De/)