Common use of Remedies of Lender Clause in Contracts

Remedies of Lender. Upon an event of default described above in this Article VII, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may immediately by notice to Borrower declare all or any portion of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action or pay such money that Lender deems necessary or desirable to cure such event of default, and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement or any other Loan Document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three percent (3%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds of Trust, the Security Agreement-Pledges and all other Loan Document described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.

Remedies of Lender. Upon an event of default described above in this Article VII, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may immediately by notice to Borrower declare all or any portion of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action or pay such money that Lender deems necessary or desirable to cure such event of default, and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights rights of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement or any other Loan Document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three percent (3%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds of Trust, the Security Agreement-Pledges and all other Loan Document Documents described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.

Remedies of Lender. (a) Upon the occurrence and during the continuance of an event of default described above in this Article VII, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If , Borrower does not provide such proper notice hereby agrees that the License and evidenceBorrower's relationship as Lender's Agent shall automatically, then and without further action of any kind or nature by Lender, terminate, and that Lender may immediately by notice deliver a Rent Demand to Borrower declare all or deliver a Notice of Enforcement to Lessees. Borrower agrees that any portion Rent Demand sent by Lender may be sent to Borrower pursuant to the notice provisions set forth in the Loan Agreement. Borrower shall, within ten days after its receipt of a Rent Demand, deliver to Lender such Rents and Revenues as are described in the Rent Demand. It shall never be necessary for Lender to institute legal proceedings of any kind whatsoever to enforce any provision of this Assignment. After the termination of the outstanding principal amount under the Note License, all Rents and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which Revenues collected by Lender shall be so declared due applied as provided for in Section 4.3 of this Assignment. Entering upon and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage taking possession of the particular Mortgaged Property, collection of Rents and Revenues and the application thereof as aforesaid shall not cure period, to perform or cause to be performed such act waive any Event of Default or take such action or pay such money that Lender deems necessary or desirable to cure such event notice of default, and if any, hereunder nor invalidate any expenses so incurred act done pursuant to such notice. Failure or discontinuance by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement at any time or any other Loan Document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three percent (3%) per annumto collect said Rents and Revenues shall not in any manner impair the subsequent enforcement by Lender, and all such amounts together with such interest thereon shall become part of the obligations evidenced by right, power and authority herein conferred upon Lender. Nothing contained herein, nor the Note and deemed secured by the Deeds of Trust, the Security Agreement-Pledges and all other Loan Document described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remediesany right, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, power or authority herein granted to Lender shall be entitled or shall be construed to exercise all be, an affirmation by it of its rights under any tenancy, lease or option, nor an assumption of liability under, nor the Loan Documents in accordance subordination of, the lien or charge of the Lien Instrument, to any such tenancy, lease, or option, nor an election of judicial relief, if any such relief is requested or obtained as to Rents and Revenues, with respect to the terms set forth therein and in accordance with applicable law then in effectMortgaged Property or any collateral given by Borrower to Lender.

Remedies of Lender. Upon an event During the existence of default described above in this Article VII, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such any Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may shall immediately by notice be entitled to Borrower declare all sums due under the Interest Rate Cap Agreement and, if Lender shall have accelerated all or any portion part of the outstanding principal amount Loan, Lender shall have the right to terminate the Interest Rate Cap Agreement and recover the residual value, if any, of the Interest Rate Cap Agreement, as such residual value may be determined by Lender with the Counterparty and without Assignor's consent thereto. In such event, Assignor hereby authorizes and instructs the Counterparty, without the need for any further instruction or authorization from Assignor or any other Person, to pay directly to Lender all amounts payable to Assignor under the Note Interest Rate Cap Agreement and, upon the request of Lender, to terminate the Interest Rate Cap Agreement, but only to the extent Assignor has the right to terminate the Interest Rate Cap Agreement thereunder, and other obligations pay the residual value thereof to be due and payable whereupon Lender. Neither the full unpaid amount under the Note and other obligations which Counterparty nor Lender shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required liable for any loss sustained by applicable law. Lender is further authorized, after the passage Assignor resulting from an early termination of the particular cure period, to perform Interest Rate Cap Agreement or cause to be performed such act or take such action or pay such money that Lender deems necessary or desirable to cure such event of default, and any expenses so incurred from the method selected by Lender and any money so paid the Counterparty for determining residual value. Written demand by Lender delivered to the Lender Counterparty for the payment of sums under the Interest Rate Cap Agreement shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all sufficient evidence of the lights Counterparty's authority and obligation to make all payments under the Interest Rate Cap Agreement to Lender without the necessity of further consent EXHIBIT A 14961843v.6 by Assignor, notwithstanding any notice or claim by Assignor or any Person claiming through Assignor. Assignor shall have no claim or right against the Counterparty for the payment of amounts under the Interest Rate Cap Agreement by reason of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement or any other Loan Document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three percent (3%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds of Trust, the Security Agreement-Pledges and all other Loan Document described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance Counterparty's compliance with the terms set forth therein and in accordance with applicable law then in effectprovisions hereof.

Remedies of Lender. Upon an event of default described above in this Article VIIArticle, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary defaultfault, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may immediately by notice to Borrower declare all or any portion of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount mount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action or pay such money that Lender deems necessary or desirable to cure such event of default, default and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights rights of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant Pursuant to this Agreement or any other Loan Document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to at the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three eighteen percent (318%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds Deed(s) of Trust, Trust the Security Agreement-Pledges /Pledge Agreement(s) and all other Loan Document Documents described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. subsidiaries Upon demand, demand after the occurrence of an event of default, Borrower Borrower, Philco, and its other subsidiaries subsidiaries, shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.

Remedies of Lender. Upon At any time that an event Event of default described above in this Article VIIDefault exists under the Security Instrument, regardless of whether or not the maturity of the principal of the Note is accelerated, Lender shall, prior to exercising shall have the remedies described hereinof a secured party under the Uniform Commercial Code and, provide Borrower with written notice specifying in reasonable detail at Xxxxxx's option, may exercise any one or more of the event of default which has occurred and stating that it intends to exercise rights or remedies provided in this Section. Borrower shall then have five (5) days set forth in the case Note or the Loan Documents. Any requirement of a monetary defaultthe Uniform Commercial Code for reasonable notice shall be met if the notice is given in accordance with the requirements of Section 11, and at least twenty (20) business days in prior to the case time of a non-monetary defaultthe sale, after receipt disposition or other event or thing giving rise to the requirement of such notice to cure or cause (which period and method of giving notice is hereby agreed to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event commercially reasonable). In exercising any of Default. If Borrower does not provide such proper notice and evidenceits remedies, then Lender may immediately by notice to Borrower declare all proceed against the items of real property and any items of personal property comprising the Supplemental Collateral separately or together and in any portion order, without in anyway affecting the availability of Lender's remedies under the Code or of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action or pay such money that Lender deems necessary or desirable to cure such event of default, and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights of the person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to remedies provided in this Agreement or any other Loan Document Documents. The right of Lender to be the purchaser for its own account at any sale or other disposition of the Supplemental Collateral shall bear interest from not be affected by the date of notice to Borrower fact that Lender is or may be now or at the time of such expenditure sale or payment disposition record titleholder to the Supplemental Collateral, nor shall that fact in any manner affect the rights of Lender to sell, dispose of or otherwise deal with the security interest granted in this Agreement. Any and all net proceeds realized by Xxxxxx pursuant to this Section 6, after first deducting all legal or other occurrence which gives rise costs and expenses incurred by Lender in effecting such realization, shall be applied to such amount being owed to the Lender until paid equal to the prime rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three percent (3%) per annum, and pay any or all such amounts together with such interest thereon shall become part of the Indebtedness as Xxxxxx shall deem proper, with any surplus to be returned to Assignor. Upon full payment and performance of all Indebtedness, obligations evidenced by and liabilities hereby secured, Xxxxxx agrees to release this Agreement and the Note and deemed secured by the Deeds lien or charge created hereby. The recorded satisfaction or release of Trust, the Security Instrument shall automatically effect the release of this Agreement-Pledges and all other Loan Document described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.

Remedies of Lender. Upon an event of default described -------------------- above in this Article VIIArticle, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may immediately by notice to Borrower declare all or any portion of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action action, = or pay such money that Lender deems necessary or desirable to cure such event Event of defaultDefault, and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights rights of the person Person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement Amended RCA or any other Loan Document loan document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to at the prime Note interest rate of interest quoted by J.X. Xxxxxx Cxxxx Bank (as the same may change from time to time, time as a variable rate) plus three nine percent (39%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds Deed(s) of Trust, the Security Agreement-Pledges Trust and all other Loan Document documents described or contemplated by this Agreement Amended RCA as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate (as the same may change from time to time) from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.

Remedies of Lender. Upon an event of default described -------------------- above in this Article VIIArticle, Lender shall, prior to exercising the remedies described herein, provide Borrower with written notice specifying in reasonable detail the event of default which has occurred and stating that it intends to exercise remedies provided in this Section. Borrower shall then have five (5) days in the case of a monetary default, and twenty (20) days in the case of a non-monetary default, after receipt of such notice to cure or cause to be cured such default and to provide Lender with notice and reasonable documentation that it has cured or cause to be cured such Event of Default. If Borrower does not provide such proper notice and evidence, then Lender may immediately by notice to Borrower declare all or any portion of the outstanding principal amount under the Note and other obligations to be due and payable whereupon the full unpaid amount under the Note and other obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment, except as may be required by applicable law. Lender is further authorized, after the passage of the particular cure period, to perform or cause to be performed such act or take such action action, or pay such money that Lender deems necessary or desirable to cure such event Event of defaultDefault, and any expenses so incurred by Lender and any money so paid by the Lender shall be a demand obligation owing by Borrower to the Lender and the Lender, upon making such payment, shall be subrogated to all of the lights rights of the person Person receiving such payment. Each amount due and owing by Borrower to the Lender pursuant to this Agreement or any other Loan Document loan document shall bear interest from the date of notice to Borrower of such expenditure or payment or other occurrence which gives rise to such amount being owed to the Lender until paid equal to at the prime Note interest rate of interest quoted by J.X. Xxxxxx Cxxxx Bank from time to time, plus three six percent (36%) per annum, and all such amounts together with such interest thereon shall become part of the obligations evidenced by the Note and deemed secured by the Deeds Deed(s) of Trust, the Security Agreement-Pledges Trust and all other Loan Document documents described or contemplated by this Agreement as security for the obligations of Borrower and its subsidiaries. Upon demand, after the occurrence of an event of default, Borrower and its other subsidiaries shall reimburse Lender for all reasonable amounts expended (including the fees and out-of-pocket expenses of counsel) in connection therewith, as a result of or in connection with its exercise of remedies, together with interest on such amounts at the Note default interest rate from the date incurred until reimbursed. Further upon an event of default as described hereinabove and the expiration of any applicable cure period provided as set forth hereinabove, Lender shall be entitled to exercise all of its rights under the Loan Documents in accordance with the terms set forth therein and in accordance with applicable law then in effect.