Common use of Receipt of Payments by Lender Clause in Contracts

Receipt of Payments by Lender. Whether or not Lender has authorized payment by mail or in any other manner, any payment by Borrower of any of the Indebtedness made by mail will be deemed tendered and received by Lender only on actual receipt thereof by Lender at the address designated for that payment, and that payment shall not be deemed to have been made in a timely manner unless actually received by Lender in good funds on or before the date due for that payment, time being of the essence. Borrower expressly assumes all risks of loss or liability resulting from non-delivery or delay of delivery of any item of payment transmitted by mail or any other manner. Acceptance by Lender of any payment in an amount less than the amount then due shall be deemed an acceptance on account only; any failure to pay the entire amount then due shall constitute and continue to be an Event of Default under this Agreement and shall be subject to the notice and cure periods specified in Section VI, hereof. Lender shall be entitled to exercise any and all rights and remedies available under any Loan Document or otherwise available at law or in equity upon the occurrence and during the continuance of any Event of Default. Before the occurrence of an Event of Default, Borrower shall have the right to direct the application of any and all payments made to Lender under this Agreement to the Indebtedness evidenced by the Note. Borrower waives the right to direct the application of any and all payments received by Lender under this Agreement at any time after the occurrence and during the continuance of an Event of Default. Borrower further agrees that after the occurrence and during the continuance of any Event of Default (or prior to the occurrence of any Event of Default if Borrower has failed to direct that application), Lender may apply and reapply any and all payments received by Lender at any time against the Indebtedness in the order and the manner as Lender may, in its sole discretion, deem advisable, notwithstanding any entry by Lender on any of its books and records, including, without limitation, those payments that are voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise. If Lender receives any payment or benefit of or otherwise upon any of the Indebtedness and any part of that payment or benefit is subsequently invalidated, set aside, declared fraudulent or preferential, or required to be repaid to a trustee, receiver, or any other Person under Debtor Relief Laws, state or federal laws, common law, equitable causes or otherwise, then, the Indebtedness, or part thereof, intended to be satisfied by that payment or benefit shall be revived and continued in full force and effect as if that payment or benefit had not been made or received by Lender, and, further, the repayment by Lender shall be added to and be deemed to be additional Indebtedness. (CYPRESS/FAIRFIELD)

Receipt of Payments by Lender. Whether Any payment by Borrower of any of the Obligations made by mail will be deemed tendered and received by Lender only upon actual receipt thereof by Lender at the address designated for such payment, whether or not Lender has authorized payment by mail or in any other manner, any payment by Borrower of any of the Indebtedness made by mail will be deemed tendered and received by Lender only on actual receipt thereof by Lender at the address designated for that payment, and that such payment shall not be deemed to have been made in a timely manner unless actually received by Lender in good funds on or before the date due for that such payment, time being of the essence. Borrower expressly assumes all risks of loss or liability resulting from non-delivery or delay of delivery of any item of payment transmitted by mail or in any other manner. Acceptance by Lender of any payment in an amount less than the amount then due shall be deemed an acceptance on account only; , and any failure to pay the entire amount then due shall constitute and continue to be an Event of Default under this Agreement hereunder, and shall be subject to at any time thereafter, and until the notice and cure periods specified entire amount then due has been paid in Section VIfull, hereof. Lender shall be entitled to exercise any and all rights and remedies conferred upon and otherwise available to Lender hereunder or under any of the other Loan Document or otherwise available at law or in equity Documents upon the occurrence and during the continuance of any such Event of Default. Before Prior to the occurrence of an any Event of DefaultDefault hereunder, Borrower shall have the right to direct the application of any and all payments made to Lender under this Agreement by Borrower hereunder to the Indebtedness evidenced by the Noterespective Obligations. Borrower waives the right to direct the application of any and all payments received by Lender under this Agreement from and on behalf of Borrower at any time or times after the occurrence and during the continuance continuation of an any Event of DefaultDefault hereunder. Borrower further agrees that after the occurrence and during the continuance continuation of any Event of Default (hereunder, or prior to the occurrence of any Event of Default hereunder if Borrower has failed to direct that such application), Lender may shall have the continuing exclusive right to apply and to reapply any and all payments received by Lender at any time or times hereafter, whether as voluntary payments, proceeds from any Collateral, offsets, or otherwise, against the Indebtedness Obligations in the such order and the in such manner as Lender may, in its sole discretion, deem advisable, notwithstanding any entry by Lender on upon any of its books and records. Borrower hereby expressly agrees that, including, without limitation, those payments to the extent that are voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise. If Lender receives any payment or benefit of or otherwise upon any of the Indebtedness and any part of that payment or benefit is subsequently invalidated, set aside, declared fraudulent or preferential, or required to be repaid to a trustee, receiver, or any other Person under Debtor Relief Laws, state or federal laws, common law, equitable causes or otherwise, then, the Indebtedness, or part thereof, intended to be satisfied by that payment or benefit shall be revived and continued in full force and effect as if that payment or benefit had not been made or received by Lender, and, further, the repayment by Lender shall be added to and be deemed to be additional Indebtedness. (CYPRESS/FAIRFIELD)any

Receipt of Payments by Lender. Whether or not Lender has authorized payment by mail or in any other manner, any Any payment by Borrower of any of the Indebtedness made by mail will be deemed tendered and received by Lender only on upon actual receipt thereof by Lender at the address designated for that such payment, whether or not Lender has authorized payment by mail or in any other manner, and that such payment shall not be deemed to have been made in a timely manner unless actually received by Lender in good funds on or before the date due for that such payment, time being of the essence. Borrower expressly assumes all risks of loss or liability resulting from non-delivery or delay of delivery of any item of payment transmitted by mail or in any other manner. Acceptance by Lender of any payment in an amount less than the amount then due shall be deemed an acceptance on account only; , and any failure to pay the entire amount then due shall constitute and continue to be an Event of Default under this Agreement and shall be subject to the notice and cure periods specified in Section VI, hereofhereunder. Lender shall be entitled to exercise any and all rights and remedies conferred upon and otherwise available to Lender under any Loan Document or otherwise available at law or in equity upon the occurrence and during the continuance of any such Event of Default. Before Prior to the occurrence of an any Event of Default, Borrower shall have the right to direct the application of any and all payments made to Lender under this Agreement hereunder to the Indebtedness evidenced by the Note. Borrower waives the right to direct the application of any and all payments received by Lender under this Agreement hereunder at any time or times after the occurrence and during the continuance of an any Event of Default. Borrower further agrees that after the occurrence and during the continuance of any Event of Default (Default, or prior to the occurrence of any Event of Default if Borrower has failed to direct that such application), Lender may shall have the continuing exclusive right to apply and to reapply any and all payments received by Lender at any time or times, whether as voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise, against the Indebtedness in the such order and the in such manner as Lender may, in its sole discretion, deem advisable, notwithstanding any entry by Lender on upon any of its books and records. Borrower hereby expressly agrees that, including, without limitation, those payments to the extent that are voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise. If Lender receives any payment or benefit of or otherwise upon any of the Indebtedness Indebtedness, and such payment or benefit, or any part of that payment or benefit thereof, is subsequently invalidated, set aside, declared to be fraudulent or preferential, set aside, or required to be repaid to a trustee, receiver, or any other Person under Debtor Relief Lawsany bankruptcy act, state or federal lawslaw, common law, equitable causes cause or otherwise, thenthen to the extent of such payment or benefit, the Indebtedness, or part thereof, intended to be satisfied by that payment or benefit shall be revived and continued in full force and effect as if that such payment or benefit had not been made or received by Lender, and, further, the any such repayment by Lender shall be added to and be deemed to be additional Indebtedness. (CYPRESS/FAIRFIELD).

Receipt of Payments by Lender. Whether or not Lender has authorized payment by mail or in any other manner, any payment by Borrower of any of the Indebtedness made by mail will be deemed tendered and received by Lender only on actual receipt thereof by Lender at the address designated for that payment, and that payment shall not be deemed to have been made in a timely manner unless actually received by Lender in good funds on or before the date due for that payment, time being of the essence. Borrower expressly assumes all risks of loss or liability resulting from non-delivery or delay of delivery of any item of payment transmitted by mail or any other manner. Acceptance by Lender of any payment in an amount less than the amount then due shall be deemed an acceptance on account only; any failure to pay the entire amount then within five (5) days of when due shall constitute and continue to be an Event of Default under this Agreement and shall be subject to the notice and cure periods specified in Section VI, hereofAgreement. Lender shall be entitled to exercise any and all rights and remedies available under any Loan Document or otherwise available at law or in equity upon the occurrence and during the continuance of any Event of Default. Before Except during the occurrence of an Event of Default, Borrower shall have the right to direct the application of any and all payments made to Lender under this Agreement to the Indebtedness evidenced by the Note. Borrower waives the right to direct the application of any and all payments received by Lender under this Agreement at any time after the occurrence and during the continuance of an Event of Default. Borrower further agrees that after the occurrence and during the continuance of any Event of Default (or prior to the occurrence of any Event of Default if Borrower has failed to direct that application), Lender may apply and reapply any and all payments received by Lender at any time against the Indebtedness in the order and the manner as Lender may, in its sole discretion, deem advisable, notwithstanding any entry by Lender on any of its books and records, including, without limitation, those payments that are voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise. If Lender receives any payment or benefit of or otherwise upon any of the Indebtedness and any part of that payment or benefit is subsequently invalidated, set aside, declared fraudulent or preferential, or required to be repaid to a trustee, receiver, or any other Person under Debtor Relief Laws, state or federal laws, common law, equitable causes or otherwise, then, the Indebtedness, or part thereof, intended to be satisfied by that payment or benefit shall be revived and continued in full force and effect as if that payment or benefit had not been made or received by Lender, and, further, the repayment by Lender shall be added to and be deemed to be additional Indebtedness. (CYPRESS/FAIRFIELD).

Receipt of Payments by Lender. Whether or not Lender has authorized payment by mail or in any other manner, any Any payment by Borrower of any of the Indebtedness made by mail will be deemed tendered and received by Lender only on upon actual receipt thereof by Lender at the address designated for that such payment, whether or not Lender has authorized payment by mail or in any other manner, and that such payment shall not be deemed to have been made in a timely manner unless actually received by Lender in good funds on or before the date due for that such payment, time being of the essence. Borrower expressly assumes all risks of loss or liability resulting from non-delivery or delay of delivery of any item of payment transmitted by mail or in any other manner. Acceptance by Lender of any payment in an amount less than the amount then due shall be deemed an acceptance on account only; , and any failure to pay the entire amount then due shall constitute and continue to be an Event of Default under this Agreement and shall be subject to the notice and cure periods specified in Section VI, hereof. Lender shall be entitled to exercise any and all rights and remedies available under any Loan Document or otherwise available at law or in equity upon the occurrence and during the continuance of any Event of Default. Before the occurrence of an Event of Default, Borrower shall have the right to direct the application of any and all payments made to Lender under this Agreement to the Indebtedness evidenced by the Note. Borrower waives the right to direct the application of any and all payments received by Lender under this Agreement hereunder at any time or times after the occurrence and during the continuance of an Event of any Default. Borrower further agrees that after the occurrence and during the continuance of any Event of Default (or prior to the occurrence of any Event of Default if Borrower has failed to direct that application)Default, Lender may shall have the continuing exclusive right to apply and to reapply any and all payments received by Lender at any time or times, whether as voluntary payments, proceeds from any Collateral, offsets, or otherwise, against the Indebtedness in the such order and the in such manner as Lender may, in its sole discretion, deem advisable, notwithstanding any entry by Lender on upon any of its books and records. Borrower hereby expressly agrees that, including, without limitation, those payments to the extent that are voluntary payments, proceeds from any Mortgaged Property, offsets, or otherwise. If Lender receives any payment or benefit of or otherwise upon any of the Indebtedness Indebtedness, and such payment or benefit, or any part of that payment or benefit thereof, is subsequently invalidated, set aside, declared to be fraudulent or preferential, set aside, or required to be repaid to a trustee, receiver, or any other Person under Debtor Relief Lawsany bankruptcy act, state or federal lawslaw, common law, equitable causes cause or otherwise, thenthen to the extent of such payment or benefit, the Indebtedness, or part thereof, intended to be satisfied by that payment or benefit shall be revived and continued in full force and effect as if that such payment or benefit had not been made or received by Lender, and, further, the any such repayment by Lender shall be added to and be deemed to be additional Indebtedness. (CYPRESS/FAIRFIELD).