Common use of Recourse and Choice of Remedies Clause in Contracts

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit Agreement, the Administrative Agent and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor contained in Sections 9.2 and 9.3 herein and Section 9.03 of the Credit Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent commences a foreclosure action against the Property, the Administrative Agent is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower and any Guarantor or indemnitor with respect to the Obligations. The Borrower and any Guarantor or indemnitor with respect to the Loans are fully and personally liable for the obligations herein and in the Credit Agreement. The liability of the Borrower and any Guarantor or indemnitor with respect to the Loans is not limited to the original principal amount of the Credit Agreement. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent from foreclosing or exercising any other rights and remedies pursuant to the Credit Agreement, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, the Administrative Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental Liability.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent Lender and other Indemnified Parties (as hereinafter defineddefined in Section 12.1 below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnitor contained in Sections 9.2 Section 12.2 and 9.3 herein and Section 9.03 of in the Credit Agreement Environmental Indemnity without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower and Borrower, any Guarantor or indemnitor with respect to the Obligations. The Borrower and any Guarantor or indemnitor with respect to the Loans are fully and personally liable for the obligations herein and in the Credit AgreementIndemnitor. The liability of the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the Loans Indemnitor is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit Note, the Loan Agreement, this Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Article 11 or in the Environmental LiabilityIndemnity.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent including but not limited to Article 13 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 11.1 below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnitor contained in Sections 9.2 11.2 and 9.3 herein and Section 9.03 of the Credit Agreement 11.3 without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the ObligationsIndemnitor. The Borrower provisions of Sections 11.2 and 11.3 are exceptions to any non-recourse or exculpation provisions in the Note, this Security Instrument or the other Loan Documents, and Borrower, Guarantor or indemnitor with respect to the Loans and Indemnitor are fully and personally liable for the obligations herein pursuant to Sections 11.2 and in the Credit Agreement11.3. The liability of the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the Loans is Indemnitor are not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit AgreementNote, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental Liability.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent including but not limited to Article 15 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnitor contained in Sections 9.2 , and 9.3 herein and Section 9.03 of the Credit Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower and Borrower, any Guarantor or indemnitor with respect to the Obligationsand/or Indemnitor. The Borrower provisions of Sections , and are exceptions to any non-recourse or exculpation provisions in the Note, this Security Instrument or the Other Security Documents, and Borrower, Guarantor or indemnitor with respect to the Loans and Indemnitor are fully and personally liable for the obligations herein pursuant to Subsections , and in the Credit Agreement. The liability of the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the Loans Indemnitor is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit AgreementNote, this Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and [NY01:247789.4] 86000-00376 12/23/96 4:57pm - 43 - participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental LiabilityArticle or Section .

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent including, but not limited to, Article 13 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 11.1 below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnitor contained in Sections 9.2 11.2 and 9.3 herein and Section 9.03 of the Credit Agreement 11.3 without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the ObligationsIndemnitor. The Borrower provisions of Sections 11.2 and 11.3 are exceptions to any non-recourse or exculpation provisions in the Note, this Security Instrument or the other Loan Documents, and Borrower, Guarantor or indemnitor with respect to the Loans and Indemnitor are fully and personally liable for the obligations herein pursuant to Sections 11.2 and in the Credit Agreement11.3. The liability of the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the Loans is Indemnitor are not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit AgreementNote, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental Liability.

Recourse and Choice of Remedies. Notwithstanding Subject to the recourse ------------------------------- obligations and liabilities of Borrower and the REIT contained in Section 9.08 of the Loan Agreement and notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent Lender and other Indemnified Parties (as hereinafter defineddefined in Section 13.1 below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Borrower contained in Sections 9.2 and 9.3 herein and Section 9.03 of the Credit Agreement 13.2 without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower and any Guarantor or indemnitor with respect to the Obligations. The Borrower and any Guarantor or indemnitor with respect to the Loans are fully and personally liable for the obligations herein and in the Credit AgreementBorrower. The liability of the Borrower and any Guarantor or indemnitor with respect to the Loans is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit Note, the Loan Agreement, this Security Instrument and the other Loan Other Security Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with the Environmental Indemnity. Borrower shall remain liable for any Environmental Liabilitydeficiency if the proceeds from any sale or other disposition of the Property are insufficient to satisfy the Obligation in full.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument Deed of Trust or the Credit Loan Agreement, other than Section 9.3 of the Administrative Agent Loan Agreement, Lender and the other Indemnified Parties (as hereinafter defined) are entitled to enforce against Borrower and Operator the obligations of the Borrower, any Guarantor Borrower and indemnitor Operator contained in Sections 9.1, 9.2 and 9.3 herein and Section 9.03 9.3 of the Credit Loan Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and upon the occurrence and during the continuance of an Event of Default, in the event the Administrative Agent Lender commences a foreclosure action against the Property, subject to Section 9.3 of the Administrative Agent Loan Agreement Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower. The provisions of Sections 9.1, 9.2 and 9.3 herein and Section 9.3 of the Loan Agreement are, relative to Borrower and Operator, exceptions to any Guarantor non-recourse or indemnitor with respect to exculpation provisions in the Obligations. The Loan Agreement, the Note, this Deed of Trust or the other Loan Documents, and Borrower and any Guarantor or indemnitor with respect to the Loans Operator are fully and personally liable for the their respective obligations pursuant to Sections 9.1, 9.2 and 9.3 herein and Section 9.3 of the Loan Agreement with respect to their respective obligations set forth in the Credit Agreementsuch sections. The liability of the Borrower and Operator (but not any Guarantor partner, member, shareholder, officer, director or indemnitor with respect agent of Borrower or Operator) pursuant to Sections 9.1, 9.2 and 9.3 herein and Section 9.3 of the Loans Loan Agreement is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing or exercising any other rights and remedies pursuant to the Credit Loan Agreement, the Note, this Security Instrument Deed of Trust and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower and Operator pursuant to this Security Instrument and/or Sections 9.1, 9.2 and 9.3 herein and Section 9.3 of the Credit Loan Agreement, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental LiabilityArticle 9 herein.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit AgreementInstrument, the Administrative Agent Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnitor contained in Sections 9.2 and 9.3 herein and Section 9.03 of the Credit Agreement 11.2 without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the ObligationsIndemnitor. The Borrower provisions of Section 11.2 are exceptions to any non-recourse or exculpation provisions in the Note, this Security Instrument or the other Loan Documents, and any Borrower, Guarantor or indemnitor with respect to the Loans and Indemnitor are fully and personally liable for the obligations herein and in the Credit Agreementpursuant to Section 11.2. The liability of the Borrower Borrower, Guarantor and any Guarantor or indemnitor with respect to the Loans is Indemnitor are not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Security Instrument or exercising any other rights and remedies pursuant to the Credit AgreementNote, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental LiabilityArticle 10 or Section 11.2.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit Agreement, the Administrative Agent including but not limited to Section 16.1 hereof, Lender and other Indemnified Parties (as hereinafter defineddefined in Section 9.1 below) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Borrower contained in Sections 9.2 Section 9.5 and 9.3 herein and Section 9.03 of the Credit Agreement Article XVI hereof without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note, the Pledged Interests or any of the Propertyother Collateral, through foreclosure or acceptance of a deed in lieu of foreclosure foreclosure, sale or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against or sells the PropertyPledged Interests or the other Collateral, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against Borrower. The provisions of Section 9.5 and Article XVI are exceptions to any non-recourse or exculpation provisions in the Note, this Agreement, the Pledge Agreement or any of the other Loan Documents, and Borrower and (but not any Guarantor or indemnitor with respect other Person, unless such Person has entered into a written agreement to the Obligations. The Borrower and any Guarantor or indemnitor with respect to the Loans are contrary) is fully and personally liable for the obligations herein pursuant to Section 9.5 and in the Credit AgreementArticle XVI. The liability of the Borrower and any Guarantor or indemnitor with respect to the Loans is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing pursuant to this Agreement or exercising any other rights and remedies pursuant to the Credit Note, this Agreement, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit AgreementBorrower, whether or not an action is brought against any other Person person or entity or whether or not any other Person person or entity is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated in connection with any matter addressed in connection with any Environmental LiabilitySection 9.4.

Recourse and Choice of Remedies. Notwithstanding any other provision of this Security Instrument or the Credit Loan Agreement, including, without limitation, Section 9.4 of the Administrative Agent Loan Agreement, Lender and other Indemnified Parties (as hereinafter defined) are entitled to enforce the obligations of the Borrower, any Guarantor and indemnitor Indemnifying Person contained in Sections 9.2 and 9.3 herein and Section 9.03 of the Credit Agreement without first resorting to or exhausting any security or collateral and without first having recourse to the Credit Agreement Note or any of the Property, through foreclosure or acceptance of a deed in lieu of foreclosure or otherwise, and in the event the Administrative Agent Lender commences a foreclosure action against the Property, the Administrative Agent Lender is entitled to pursue a deficiency judgment with respect to such obligations against the Borrower and any Guarantor or indemnitor Indemnifying Person with respect to the ObligationsLoan. The provisions of Sections 9.2 and 9.3 herein are exceptions to any nonrecourse or exculpation provisions in the Loan Agreement, the Note, this Security Instrument or the other Loan Documents, and Borrower and any Guarantor or indemnitor Indemnifying Person with respect to the Loans Loan are fully and personally liable for the obligations herein pursuant to Sections 9.2 and in the Credit Agreement9.3 herein. The liability of the Borrower and any Guarantor guarantor or indemnitor with respect to the Loans Loan pursuant to Sections 9.2 and 9.3 herein is not limited to the original principal amount of the Credit AgreementNote. Notwithstanding the foregoing, nothing herein shall inhibit or prevent the Administrative Agent Lender from foreclosing or exercising any other rights and remedies pursuant to the Credit Loan Agreement, the Note, this Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate action or actions may be brought and prosecuted against the Borrower pursuant to this Security Instrument and/or the Credit Agreement, Sections 9.2 and 9.3 herein whether or not action is brought against any other Person or whether or not any other Person is joined in the action or actions. In addition, the Administrative Agent Lender shall have the right but not the obligation to join and participate in, as a party if it so elects, any administrative or judicial proceedings or actions initiated ini fated in connection with any matter addressed in connection with any Environmental LiabilityArticle 8 or Section 9.4 herein.