Rights and Remedies of Lender. In the event of an Event of Default under the Note or the other Loan Documents, or any of them, that is continuing (it being understood that the Lender has no obligation to accept cure after an Event of Default occurs), Lender shall have the right to enforce its rights, powers and remedies thereunder or hereunder or under any other Loan Document, in any order, and all rights, powers and remedies available to Lender in such event shall be nonexclusive and cumulative of all other rights, powers and remedies provided thereunder or hereunder or by law or in equity. Accordingly, Guarantors hereby authorize and empower Lender upon the occurrence and during the continuance of any Event of Default under the Note or the other Loan Documents, at its sole discretion, and without notice to Guarantors, to exercise any right or remedy which Lender may have, including, but not limited to, foreclosure, exercise of rights of power of sale, acceptance of a deed or assignment in lieu of foreclosure, appointment of a receiver, exercise of remedies against personal property, or enforcement of any assignment of leases, as to any security, whether real, personal or intangible. At any public or private sale of any security or collateral for any of the Obligations guaranteed hereby (it being understood that as of the Closing Date, the Obligations are unsecured), whether by foreclosure or otherwise, Lender may, in its discretion, purchase all or any part of such security or collateral so sold or offered for sale for its own account and may apply against the amount bid therefor all or any part of the balance due it pursuant to the terms of the Note or any of the other Loan Document without prejudice to Xxxxxx’s remedies hereunder against Guarantors for deficiencies. If the Obligations guaranteed hereby are partially paid by reason of the election of Lender to pursue any of the remedies available to Lender, or if such Obligations are otherwise partially paid, this Guaranty shall nevertheless remain in full force and effect, and Guarantors shall remain liable for the entire balance of the Obligations guaranteed hereby even though any rights which any Guarantor may have against Borrower or any other Person may be destroyed or diminished by the exercise of any such remedy.
Rights and Remedies of Lender. A. In addition to the rights and remedies granted to Lender herein, Lender shall at all times have the rights and remedies of a secured party under the Code.
B. On and after the occurrence of an Event of Default, Lender may do all or any of the following:
1. Declare all or any part of the Obligations due and payable.
2. Enter the premises of the Debtor and take custody of or remove the Collateral, without judicial process or the responsibility to post a bond or other financial undertaking.
3. Require the Debtor to assemble the Collateral, and make it available to Lender at the Debtor’s premises or at any other location selected by Lender, where it will remain at the Debtor’s expense pending sale or other disposition. Lender may take possession of, remove, or otherwise deal with the Collateral for any purpose including putting the Collateral in saleable form.
4. Dispose of all or any part of the Collateral in such manner and upon such terms as Lender, in its sole discretion, shall determine. If notice of sale or disposition of Collateral is required, ten (10) days’ notice to the Debtor of any intended sale or other disposition of the Collateral shall be deemed to be reasonable. Lender shall have the right to purchase the Collateral.
5. Endorse any note, draft, check, or other instrument for the payment of money and any other invoice, assignment, verification, notice, or other document with respect to the Collateral, as the attorney-in-fact for the Debtor with full power of substitution.
6. Accept and receive payment of, receipt for, or settle, compromise, or adjust any claim, suit, action, or proceeding with respect to the Collateral and give discharge, release, or full or partial acquittance therefor.
7. Defend any suit, action, or proceeding against the Debtor concerning the Collateral.
C. The Debtor shall reimburse Lender for any and all costs and expenses, including but not limited to reasonable attorneys’ fees, incurred by Lender in preserving the Collateral or the security interest; enforcing, collecting, or realizing upon the Obligations or the Collateral; and performing the Debtor’s obligations hereunder, which Lender is hereby authorized to do.
D. Lender shall be under no obligation or liability to any party for the performance or observance of any of the representations, warranties, conditions, or terms of any document relating to the Collateral.
E. Lender shall be under no duty to protect the Collateral from deterioration, waste or loss by fire, ...
Rights and Remedies of Lender. Upon the occurrence of an Event of Default, Lender may, at its option, and without demand or notice: (i) declare the Obligations to be immediately due and payable, whereupon all of the Obligations in the Loan Documents shall be immediately due and payable, and (ii) exercise any or all other rights arid remedies concurrently or consecutively in such order as Lender elects. Such rights and remedies shall be cumulative and non-exclusive. Delay, discontinuance, or failure to exercise any remedy shall not be a waiver of such remedy or of any other right or remedy of Lender, or of the TIME IS OF THE ESSENCE provision. Exercise of any right or remedy of Lender shall not cure or waive any Event of Default or invalidate any act of Lender taken in response to such Event of Default.
Rights and Remedies of Lender under the Loan Documents shall be cumulative, and the exercise or partial exercise of any such right or remedy shall not preclude the exercise of any other right or remedy.
Rights and Remedies of Lender. The rights and remedies of Lender shall be cumulative and non-exclusive. Delay, discontinuance, or failure to exercise any right or remedy of Lender shall not be a waiver thereof, of any other right or remedy of Lender, or of the time of the essence provision. Exercise of any right or remedy of Lender shall not cure or waive any Event of Default or invalidate any act done in response to any Event of Default.
Rights and Remedies of Lender. 7.2.1 Notwithstanding any provision to the contrary herein or any Loan Document (except with respect to Sections 2.1.1(d) and 2.1.4(f) of this Agreement), during the continuance of any Event of Default under this Agreement, or during the continuance of an Event of Default under any Loan Document: (i) Lender’s obligations to make further disbursements of the Loan xxxxx; and (ii) if the Event of Default is not cured within the applicable notice and cure periods set forth in this Agreement (which include, for the avoidance of doubt, Sections 2.1.1(d) and 7.1), then Lender, at its option, has the remedies provided in the Loan Document breached by Borrower, including, without limitation, the option to declare all outstanding indebtedness to be immediately due and payable without presentment, demand, protest or notice of any kind, and the following remedies: Xxxxxx’s obligation to make further disbursements to Borrower terminate; Lender may, at its option, apply any of Borrower’s funds in its possession to the outstanding indebtedness under the Note whether or not such indebtedness is then due; and Lender may exercise all rights and remedies available to it under any or all of the Loan Documents.
7.2.2 Upon the occurrence and continuance of any Event of Default, Borrower hereby constitutes and appoints Lender, or an independent contractor selected by Xxxxxx, as its true and lawful attorney-in-fact with full power of substitution from and after the occurrence of an Event of Default under the Loan Documents, unless and until Borrower reinstates the Loan pursuant to applicable law and otherwise cures any and all outstanding Events of Default, to do any or all of the following upon the occurrence of an Event of Default (it being understood and agreed that said power of attorney is deemed to be a power coupled with an interest which cannot be revoked until repayment of the Loan):
(a) To use any balance of the Loan and any funds which may be held by Xxxxxx for Borrower for the purpose of operating and managing the Hotel in accordance with the Outstanding Bonds, Indenture of Trust and Management Agreement.
Rights and Remedies of Lender. Upon the occurrence of any Event of ----------------------------- Default, such default not having previously been waived, remedied or cured, the Lender shall have the following rights and remedies:
(a) All rights and remedies provided by law, including without limitation those provided by the Uniform Commercial Code;
(b) all rights and remedies provided in this Agreement; and
(c) All rights and remedies provided in any other agreement, document or instrument pertaining to the Secured Obligations.
Rights and Remedies of Lender. Upon and after the occurrence of an Event of Default, Lender may, without notice or demand other than expressly provided for under the provisions of this Agreement, apply the Collateral to the repayment of any and all Obligations then outstanding in accordance with Section 6.2 below, and exercise in any jurisdiction in which enforcement hereof is sought, any and all rights and remedies Lender may have under this Agreement or any other Loan Document, or under applicable law, including the rights and remedies of a secured party under the UCC, all such rights and remedies being cumulative and enforceable alternatively, successively or concurrently.
Rights and Remedies of Lender. Upon the occurrence of an Event of Default by Borrower under this Note, then, in addition to all other rights and remedies at law or in equity, Lender may exercise any one or more of the following rights and remedies:
1) Accelerate the time for payment of all amounts payable under this Note by written notice thereof to Borrower, whereupon all such amounts shall be immediately due and payable.
2) Pursue any other rights or remedies available to Lender at law or in equity.
Rights and Remedies of Lender. Upon the occurrence of any Event of Default, Lender may, at its option, exercise any one or more of the following rights and remedies: (a) declare the Commitment and Lender's obligation to advance the Borrowings to be terminated, and declare the entire unpaid principal amount of the Note, all interest accrued and unpaid thereon, and all other amounts payable under this Agreement and the other Loan Documents to be accelerated, and to be immediately due and payable, whereupon the Note, all such accrued interest, and all such amounts shall become and be immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by Borrower, anything contained herein or in any of the other Loan Documents to the contrary notwithstanding; (b) notify all parties under the contracts and accounts forming all or any part of the Collateral to make any payments due to Borrower from such parties directly to Lender; (c) in Lender's own name, or in the name of Borrower, demand, collect, receive, sue xxx, and give receipts and releases for, any and all amounts due under such contracts and accounts;
