Common use of PERFORMANCE BY NOTE HOLDER OF OBLIGATIONS Clause in Contracts

PERFORMANCE BY NOTE HOLDER OF OBLIGATIONS. If a Transaction Party defaults in fully and punctually performing any obligation contained or implied in any Transaction Document, the Note Holder and OF Manager may, without prejudice to any Power do all things necessary or desirable, in the opinion of the Note Holder or OF Manager, as the case may be, to make good or attempt to make good that default to the satisfaction of the Note Holder or OF Manager, as the case may be.