Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 6 contracts
Samples: Loan Agreement (Origin Bancorp, Inc. Attn: Chase Anderson), Loan Agreement (ServisFirst Bancshares, Inc.), Loan Agreement (Bank of Commerce Holdings)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that any Borrower fails to perform any of such Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender Agent may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender Agent in so doing and shall constitute additional indebtedness evidenced by the Note Notes and secured by the Security Documents Mortgages and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 4 contracts
Samples: Secured Loan Agreement (Sentio Healthcare Properties Inc), Secured Loan Agreement (Sentio Healthcare Properties Inc), Secured Loan Agreement (Sentio Healthcare Properties Inc)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), ) Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 2 contracts
Samples: Loan Agreement (Legacy Housing Corp), Loan Agreement (Legacy Housing Corp)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents Deed of Trust and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 2 contracts
Samples: Construction Loan Agreement (Wellsford Real Properties Inc), Development Loan Agreement (Wellsford Real Properties Inc)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that any Borrower fails to perform any of such Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents Mortgages and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 2 contracts
Samples: Secured Loan Agreement (CNL Healthcare Trust, Inc.), Secured Loan Agreement (CNL Healthcare Trust, Inc.)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender Agent may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender Agent in so doing and shall constitute additional indebtedness evidenced by the Note Notes and secured by the Security Documents Mortgage and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 2 contracts
Samples: Construction Loan Agreement, Construction Loan Agreement (Dupont Fabros Technology, Inc.)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents Mortgage and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 1 contract
Samples: Loan Agreement (New England Realty Associates Limited Partnership)
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness evidenced by the Note and secured by the Security Documents and the other Loan Documents and shall bear interest at the Default RateDocuments.
Appears in 1 contract
Right of Lender to Make Advances to Cure Borrower’s Defaults. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional indebtedness Indebtedness evidenced by the Note and secured by the Security Documents and the other Loan Documents and shall bear interest at the Default Rate.
Appears in 1 contract
