Recourse Obligations and Survivability. Indemnitor agrees that the provisions of Section 8.07 of the Instrument shall apply to this Agreement except all references to “Section 8.05” and “Article VIII” shall be deemed to include this Agreement, and, for the purpose of this covenant, all references in Section 8.07 to “Borrower” shall be deemed to refer to “Indemnitor”. In addition, Indemnitor acknowledges and agrees that each Indemnitor, jointly and severally (if applicable), is fully and personally liable for the obligations under this Agreement, and such liability is not limited to the original or amortized principal balance of the Loan or the value of the Property.
Appears in 4 contracts
Samples: And Consolidated Mortgage and Security Agreement (Mack Cali Realty L P), And Consolidated Mortgage and Security Agreement (Mack Cali Realty Corp), And Consolidated Mortgage and Security Agreement (Mack Cali Realty Corp)
Recourse Obligations and Survivability. Indemnitor agrees that the provisions of Section 8.07 of the Instrument shall apply to this Agreement except all references to “"Section 8.05” " and “"Article VIII” " shall be deemed to include this Agreement, and, for the purpose of this covenant, all references in Section 8.07 to “"Borrower” " shall be deemed to refer to “"Indemnitor”. ." In addition, Indemnitor acknowledges and agrees that each Indemnitor, jointly and severally (if applicable)severally, is fully and personally liable for the obligations under this Agreement, and such liability is not limited to the original or amortized principal balance of the Loan or the value of the Property.
Appears in 2 contracts
Samples: Environmental Indemnity Agreement (Cornerstone Realty Income Trust Inc), Environmental Indemnity Agreement (Cornerstone Realty Income Trust Inc)
