Common use of Post-Event of Default Clause in Contracts

Post-Event of Default. Subject to any limitations under the Governing Law and the applicable Laws of the State, during any Event of Default Period: (i) Lender may declare all Indebtedness in its entirety to be immediately due and payable or exercise any right at law or in equity, or any remedy expressly provided in any of the Loan Documents, including foreclosing any liens or security interests; (ii) Lender may: (1) enforce all Additional Collateral terms and exercise all rights under the Additional Collateral; (2) enter into, terminate, renew or modify Contracts or Licenses, and make concessions to Governmental Authorities; and (3) exercise all proprietary rights in, and fully utilize, the Plans and Specifications. (iii) Contractors and Governmental Authorities may: (1) continue work under the Additional Collateral under the sole direction of Lender; and (2) permit Lender to retain and use the Additional Collateral for any purpose Lender deems appropriate. In furtherance of the foregoing, any Person may rely on an affidavit from any officer, agent or attorney of L▇▇▇▇▇ confirming that an Event of Default Period exists. Lender is not obligated to undertake any remedies under the Loan Documents. However, by exercising any rights under the Loan Documents, L▇▇▇▇▇ does not (unless L▇▇▇▇▇ expressly agrees in writing) become (i) a party to any of the Additional Collateral, or (ii) liable to any Person (including Borrower and Guarantor), EVEN IF THE LIABILITY ACTUALLY OR ALLEGEDLY AROSE FROM THE ORDINARY, CONTRIBUTORY, COMPARATIVE OR SOLE NEGLIGENCE, OR STRICT LIABILITY OF LENDER. L▇▇▇▇▇ will only be liable for liabilities if a court of competent jurisdiction determines in a final, non-appealable judgment that the liability arose from L▇▇▇▇▇'s gross negligence or intentional misconduct. L▇▇▇▇▇'s rights under this Section are in addition to any other rights and remedies Lender may have under the Loan Documents, at law, in equity or otherwise. Lender may (but will not be obligated to) also: (i) at Borrower's sole cost and expense, take whatever action Lender deems necessary or appropriate, including the use of legal proceedings, to (A) cause Borrower to vacate the Property, and (B) take possession of the Property; (ii) at Borrower's sole cost and expense, employ security watchmen to protect the Property; or (iii) at Borrower's sole cost and expense, perform or cause to be performed any covenant or agreement of Borrower under any of the Loan Documents.

Post-Event of Default. Subject to any limitations under the Governing Law and the applicable Laws of the State, during any Event of Default Period: (i) Lender may declare all Indebtedness in its entirety to be immediately due and payable or exercise any right at law or in equity, or any remedy expressly provided in any of the Loan Documents, including foreclosing any liens or security interests; (ii) Lender may: (1) enforce all Additional Collateral terms and exercise all rights under the Additional Collateral; (2) enter into, terminate, renew or modify Contracts or Licenses, and make concessions to Governmental Authorities; and (3) exercise all proprietary rights in, and fully utilize, the Plans and Specifications. (iii) Contractors and Governmental Authorities may: (1) continue work under the Additional Collateral under the sole direction of Lender; and (2) permit Lender to retain and use the Additional Collateral for any purpose Lender deems appropriate. In furtherance of the foregoing, any Person may rely on an affidavit from any officer, agent or attorney of L▇▇▇▇▇ Lender confirming that an Event of Default Period exists. Lender is not obligated to undertake any remedies under the Loan Documents. However, by By exercising any rights under the Loan Documents, L▇▇▇▇▇ Lender does not (unless L▇▇▇▇▇ Lender expressly agrees in writing) become (i) a party to any of the Additional Collateral, or (ii) liable to any Person (including Borrower and Guarantor)Person, EVEN IF THE LIABILITY ACTUALLY OR ALLEGEDLY AROSE FROM THE ORDINARY, CONTRIBUTORY, COMPARATIVE OR SOLE NEGLIGENCE, OR STRICT LIABILITY OF LENDER. L▇▇▇▇▇ Lender will only be liable for liabilities if a court of competent jurisdiction determines in a final, non-appealable judgment that the liability arose from L▇▇▇▇▇Lender's gross negligence or intentional misconduct. L▇▇▇▇▇Lender's rights under this Section are in addition to any other rights and remedies Lender may have under the Loan Documents, at law, in equity or otherwise. Lender may (but will not be obligated to) also: (i) at Borrower's sole cost and expense, take whatever action Lender deems necessary or appropriate, including the use of legal proceedings, to (A) cause Borrower to vacate the Property, and (B) take possession of the Property; (ii) at Borrower's sole cost and expense, employ security watchmen to protect the Property; or (iii) at Borrower's sole cost and expense, perform or cause to be performed any covenant or agreement of Borrower under any of the Loan Documents.

Post-Event of Default. Subject to any limitations under the Governing Law and the applicable Laws of the State, during During any Event of Default Period: (i) Lender may declare all Indebtedness in its entirety to be immediately due and payable or exercise any right at law or in equity, or any remedy expressly provided in any of the Loan Documents, including foreclosing any liens or security interests; (ii) Lender may: (1) enforce all Additional Collateral terms and exercise all rights under the Additional Collateral; (2) enter into, terminate, renew or modify Contracts or Licenses, and make concessions to Governmental Authorities; and (3) exercise all proprietary rights in, and fully utilize, the Plans and Specifications. (iii) Contractors and Governmental Authorities may: (1) continue work under the Additional Collateral under the sole direction of Lender; and (2) permit Lender to retain and use the Additional Collateral for any purpose Lender deems appropriate. In furtherance of the foregoing, any Person may rely on an affidavit from any officer, agent or attorney of L▇▇▇▇▇ Lender confirming that an the Event of Default Period existsPeriod. Lender is not obligated to undertake any remedies under the Loan Documents. However, by By exercising any rights under the Loan Documents, L▇▇▇▇▇ Lender does not (unless L▇▇▇▇▇ Lender expressly agrees in writing) become (i) a party to any of the Additional Collateral, or (ii) liable to any Person (including Borrower and Guarantor)Person, EVEN IF THE LIABILITY ACTUALLY OR ALLEGEDLY AROSE FROM THE ORDINARY, CONTRIBUTORY, COMPARATIVE OR SOLE NEGLIGENCE, OR STRICT LIABILITY OF LENDER. L▇▇▇▇▇ Lender will only be liable for liabilities if a court of competent jurisdiction determines in a final, non-appealable judgment that the liability arose from L▇▇▇▇▇'s Lender’s gross negligence negligence, intentional misconduct or intentional misconductfraud. L▇▇▇▇▇'s Lender’s rights under this Section are in addition to any other rights and remedies Lender may have under the Loan Documents, at law, in equity or otherwise. Lender may (but will not be obligated to) also: (i) at Borrower's ’s sole cost and expense, take whatever action Lender deems necessary or appropriate, including the use of legal proceedings, to (A) cause Borrower to vacate the Property, and (B) take possession of the Property;, (ii) at Borrower's ’s sole cost and expense, employ security watchmen to protect the Property; , or (iii) at Borrower's ’s sole cost and expense, perform or cause to be performed any covenant or agreement of Borrower under any of the Loan Documents.

Post-Event of Default. Subject to any limitations under the Governing Law and the applicable Laws of the State, during any Event of Default Period: (i) Lender may declare all Indebtedness in its entirety to be immediately due and payable or exercise any right at law or in equity, or any remedy expressly provided in any of the Loan Documents, including foreclosing any liens or security interests; (ii) Lender may: (1) enforce all Additional Collateral terms and exercise all rights under the Additional Collateral; (2) enter into, terminate, renew or modify Contracts or Licenses, and make concessions to Governmental Authorities; and (3) exercise all proprietary rights in, and fully utilize, the Plans and Specifications. (iii) Contractors and Governmental Authorities may: (1) continue work under the Additional Collateral under the sole direction of Lender; and (2) permit Lender to retain and use the Additional Collateral for any purpose Lender deems appropriate. In furtherance of the foregoing, any Person may rely on an affidavit from any officer, agent or attorney of L▇▇▇▇▇ Lender confirming that an Event of Default Period exists. Lender is not obligated to undertake any remedies under the Loan Documents. However, by exercising any rights under the Loan Documents, L▇▇▇▇▇ Lender does not (unless L▇▇▇▇▇ Lender expressly agrees in writing) become (i) a party to any of the Additional Collateral, or (ii) liable to any Person (including Borrower and Guarantorany guarantor), EVEN IF THE LIABILITY ACTUALLY OR ALLEGEDLY AROSE FROM THE ORDINARY, CONTRIBUTORY, COMPARATIVE OR SOLE NEGLIGENCE, OR STRICT LIABILITY OF LENDER. L▇▇▇▇▇ Lender will only be liable for liabilities if a court of competent jurisdiction determines in a final, non-appealable judgment that the liability arose from L▇▇▇▇▇Lender's gross negligence or intentional misconduct. L▇▇▇▇▇Lender's rights under this Section are in addition to any other rights and remedies Lender may have under the Loan Documents, at law, in equity or otherwise. Lender may (but will not be obligated to) also: (i) at Borrower's sole cost and expense, take whatever action Lender deems necessary or appropriate, including the use of legal proceedings, to (A) cause Borrower to vacate the Property, and (B) take possession of the Property; (ii) at Borrower's sole cost and expense, employ security watchmen to protect the Property; or (iii) at Borrower's sole cost and expense, perform or cause to be performed any covenant or agreement of Borrower under any of the Loan Documents. Notwithstanding the foregoing, Lender may not exercise its rights against the Land and Improvements if there exists only a non-monetary default with respect to the Revolving Loan.