Common use of Provisions Regarding Any Default and Acceleration Clause in Contracts

Provisions Regarding Any Default and Acceleration. (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Provisions Regarding Any Default and Acceleration. (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Provisions Regarding Any Default and Acceleration. Upon a default by the Governmental Lender of its obligations hereunder or a default by the Borrower of its obligations under the Borrower Loan Documents, the Fiscal Agent shall, subject to the provisions of Article XI, take such actions, and only such actions, to enforce the provisions of this Funding Loan Agreement, the Borrower Loan Documents and the Funding Loan Documents as are specified in writing by the Funding Lender. Notwithstanding the foregoing, or anything else to the contrary herein, no default by the Borrower under the Borrower Loan Agreement or the Borrower Note shall constitute an event of default with respect to the Funding Loan (a) including, without limitation, a failure to make any payment due with respect to the Funding Loan as a consequence of the Borrower’s failure to make any payment due under the Borrower Loan Agreement). The Governmental Lender’s, Fiscal Agent’s, Funding Xxxxxx’s and Servicer’s remedies with respect to a default under the Borrower Loan Documents shall be as set forth under the Borrower Loan Documents. In the event of an Event of Defaulta default by the Borrower under the Borrower Loan Documents, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the 4810-8817-5806.3 Borrower Loan Agreement and take other remedial actions available hereunder or thereunderthereunder without accelerating the amounts due with respect to the Funding Loan. The Notwithstanding the foregoing, the Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to direct the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes Funding Loan and apply any funds available hereunder to the payment of the Governmental Lender Notes Funding Loan (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). Any portion of the Funding Loan remaining outstanding upon such an acceleration of the Funding Loan shall be deemed paid upon transfer, to or at the direction of the Funding Lender, of the Borrower Loan Documents and all security therefor free and clear of the lien of this Funding Loan Agreement. The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Provisions Regarding Any Default and Acceleration. ‌ (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.

Provisions Regarding Any Default and Acceleration. ‌ (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.Project

Provisions Regarding Any Default and Acceleration. ‌ (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice written notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Project (d) Equity Investor shall have the right, but not the obligation, to cure any Event of Default on the same terms as provided to the Borrower herein and any cure tendered by the Equity Investor shall be accepted or rejected as if made by Equity Investor itself. A copy of any Notice of any default or Event of Default sent to Borrower hereunder shall not in and of itself constitute a Borrower Loan Agreement Defaultbe sent concurrently to the Equity Investor.

Provisions Regarding Any Default and Acceleration. ‌ (a) In the event of an Event of Default, the Funding Lender, in its discretion, may accelerate the amounts due hereunder and under the Borrower Loan Agreement and take other remedial actions available hereunder or thereunder. The Funding Lender may, in its discretion, upon the acceleration of the Borrower’s obligations under the Borrower Loan Documents, give Written Direction to the Fiscal Agent to simultaneously accelerate the maturity of the Governmental Lender Notes and apply any funds available hereunder to the payment of the Governmental Lender Notes (after paying the fees and expenses of the Fiscal Agent and the Governmental Lender). The Governmental Lender shall cooperate with the Fiscal Agent and the Funding Lender in exercising rights and remedies under the Funding Loan Documents and the Borrower Loan Documents, but only upon being satisfactorily indemnified by the Borrower for any fees or expenses relating thereto as provided in the Funding Loan Agreement, the Borrower Loan Agreement and Regulatory Agreement. The Fiscal Agent shall take Written Direction from the Funding Lender with respect to the foregoing matters. Funding Lender will provide written notice of any such acceleration to Governmental Lender, Borrower and Equity Investor. (b) At any time after a declaration of acceleration has been made pursuant to paragraph (a) of this Section, the Funding Lender may by Written Notice to the Governmental Lender, with a copy to the Fiscal Agent, rescind and annul such declaration and its consequences if: (1) There has been deposited with the Fiscal Agent a sum sufficient to pay (i) all overdue installments of interest on the Governmental Lender Notes, (ii) the principal of and Prepayment Premium on the Governmental Lender Notes that has become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Governmental Lender Notes, (iii) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in the Governmental Lender Notes, and (iv) all sums paid or advanced by the Funding Lender and the Fiscal Agent and the reasonable compensation, expenses, disbursements and advances of the Funding Lender, the Fiscal Agent, and their agents and counsel (but only to the extent not duplicative with subclauses (i) and (iii) above); and (2) All Events of Default, other than the non-payment of the principal of the Governmental Lender Note which have become due solely by such declaration of acceleration, have been cured or have been waived in writing as provided in Section 9.9 hereof. No such rescission and annulment shall affect any subsequent default or impair any right consequent thereon. (c) Notwithstanding the occurrence and continuation of an Event of Default, it is understood that the Funding Lender shall pursue no remedies against the Borrower or the Project if no Borrower Loan Agreement Default has occurred and is continuing. An Event of Default hereunder shall not in and of itself constitute a Borrower Loan Agreement Default.