Common use of Separate Exercise of Remedies Clause in Contracts

Separate Exercise of Remedies. Lender may exercise remedies against each of Borrower and Operating Lessee Owner and its respective portion of the Collateral and interest in the respective Individual Property separately, whether or not Lender exercises remedies against any other 91 portion of the Collateral or interest in any other Mortgage Borrower, Operating Lessee or their Individual Property (or Individual Properties). Lender may enforce Borrower’s or Operating Lessee Owner’s obligations without enforcing the other party’s obligations. Any failure or inability of Lender to enforce Borrower’s or Operating Lessee Owner’s obligations shall not in any way limit Lender’s right to enforce the obligations of the other . If Lender forecloses or exercises similar remedies against any portion of the Collateral, then such foreclosure or similar remedy shall be deemed to reduce the balance of the Loan only to the extent of the cash proceeds actually realized by Lender from such foreclosure or similar remedy or, if applicable, Lender’s credit bid at such sale, regardless of the effect of such foreclosure or similar remedy on the Note under the applicable state law. If Lender accepts an assignment in lieu of foreclosure of a portion of the Collateral from Borrower or Operating Lessee Owner, then such acceptance shall not be deemed to diminish Borrower’s liability for the full amount of the Loan and Borrower’s or Operating Lessee Owner’s other liabilities under this Agreement and the other Loan Documents, except to the extent that Lender agrees otherwise in writing. Breach Under Agreement . It is the intent of the parties hereto in determining whether (a) a breach of any representation, warranty or covenant in this Agreement has occurred, or (b) an event has occurred which would create recourse obligations under this Agreement, that any such breach, occurrence or event with respect to Borrower or Operating Lessee Owner shall be deemed to be such a breach, occurrence or event with respect to Borrower or Operating Lessee Owner, as applicable, under this Agreement and that Borrower and Operating Lessee Owner need not have been involved with such breach, occurrence or event in order for the same to be deemed such a breach, occurrence or event with respect to Borrower or Operating Lessee Owner, as applicable, under this Agreement. Waivers .

Separate Exercise of Remedies. Lender may exercise remedies against each of Borrower and Operating Lessee Owner and its respective portion of the Collateral and interest in the respective Individual Property separately, whether or not Lender exercises remedies against any other 91 portion of the Collateral or interest in any other Mortgage Borrower, Operating Lessee or their Individual Property (or Individual Properties). Lender may enforce a Borrower’s or Operating Lessee OwnerLessee’s obligations without enforcing the other partyBorrowers’ or Operating Lessee’s obligations. Any failure or inability of Lender to enforce a Borrower’s or Operating Lessee OwnerLessee’s obligations shall not in any way limit Lender’s right to enforce the obligations of the any other Borrower or Operating Lessee. If Lender forecloses or exercises similar remedies against any portion of the Collateralone Individual Property, then such foreclosure or similar remedy shall be deemed to reduce the balance of the Loan only to the extent of the cash proceeds actually realized by Lender from such foreclosure or similar remedy or, if applicable, Lender’s credit bid at such sale, regardless of the effect of such foreclosure or similar remedy on the Note under the applicable state law. If Lender accepts an assignment a deed in lieu of foreclosure of an Individual Property from a portion of the Collateral from Borrower or Operating Lessee OwnerLessee, then such acceptance shall not be deemed to diminish any other Borrower’s liability for the full amount of the Loan and such Borrower’s or Operating Lessee OwnerLessee’s other liabilities under this Agreement and the other Loan Documents, except to the extent that Lender agrees otherwise in writing. Breach Under Agreement . It is the intent of the parties hereto in determining whether (a) a breach of any representation, warranty or covenant in this Agreement has occurred, or (b) an event has occurred which would create recourse obligations under this Agreement, that any such breach, occurrence or event with respect to any individual Borrower or Operating Lessee Owner shall be deemed to be such a breach, occurrence or event with respect to Borrower or Operating Lessee OwnerLessee, as applicable, under this Agreement and that each individual Borrower and Operating Lessee Owner need not have been involved with such breach, occurrence or event in order for the same to be deemed such a breach, occurrence or event with respect to Borrower or Operating Lessee OwnerLessee, as applicable, under this Agreement. 116 Waivers .

Separate Exercise of Remedies. Lender may exercise remedies against each of Borrower and Operating Lessee Owner and its respective portion of the Collateral and interest in the respective Individual Property separately, whether or not Lender exercises remedies against any other 91 portion of the Collateral or interest in any other Mortgage Borrower, Operating Lessee or their Individual Property (or Individual Properties). Lender may enforce a Borrower’s or Operating Lessee OwnerLessee’s obligations without enforcing the other partyBorrowers’ or Operating Lessee’s obligations. Any failure or inability of Lender to enforce a Borrower’s or Operating Lessee OwnerLessee’s obligations shall not in any way limit Lender’s right to enforce the obligations of the any other Borrower or Operating Lessee. If Lender forecloses or exercises similar remedies against any portion of the Collateralone Individual Property, then such foreclosure or similar remedy shall be deemed to reduce the balance of the Loan only to the extent of the cash proceeds actually realized by Lender from such foreclosure or similar remedy or, if applicable, Lender’s credit bid at such sale, regardless of the effect of such foreclosure or similar remedy on the Note under the applicable state law. If Lender accepts an assignment a deed in lieu of foreclosure of an Individual Property from a portion of the Collateral from Borrower or Operating Lessee OwnerLessee, then such acceptance shall not be deemed to diminish any other Borrower’s liability for the full amount of the Loan and such Borrower’s or Operating Lessee OwnerLessee’s other liabilities under this Agreement and the other Loan Documents, except to the extent that Lender agrees otherwise in writing. Breach Under Agreement . It is the intent of the parties hereto in determining whether (a) a breach of any representation, warranty or covenant in this Agreement has occurred, or (b) an event has occurred which would create recourse obligations under this Agreement, that any such breach, occurrence or event with respect to any individual Borrower or Operating Lessee Owner shall be deemed to be such a breach, occurrence or event with respect to Borrower or Operating Lessee OwnerLessee, as applicable, under this Agreement and that each individual Borrower and Operating Lessee Owner need not have been involved with such breach, occurrence or event in order for the same to be deemed such a breach, occurrence or event with respect to Borrower or Operating Lessee OwnerLessee, as applicable, under this Agreement. Waivers .

Separate Exercise of Remedies. Lender The Administrative Agent (on behalf of the Secured Parties) may exercise remedies against each of Borrower and Operating Lessee Owner and its respective portion of the Collateral and interest in the respective Individual Property property separately, whether or not Lender the Administrative Agent exercises remedies against any other 91 portion of the Collateral Borrower or interest in any other Mortgage Borrower, Operating Lessee or their Individual Property (or Individual Properties)its property. Lender The Administrative Agent may enforce one or more Borrower’s or Operating Lessee Owner’s obligations without enforcing the any other partyBorrower’s obligationsobligations and vice versa. Any failure or inability of Lender the Administrative Agent to enforce one or more Borrower’s or Operating Lessee Owner’s obligations shall not in any way limit Lenderthe Administrative Agent’s right to enforce the obligations of the other Borrowers. If Lender the Administrative Agent forecloses or exercises similar remedies against under any portion of the Collateralone or more Collateral Documents, then such foreclosure or similar remedy shall be deemed to reduce the balance of the Loan Loans only to the extent of the cash proceeds actually realized US-DOCS\106247413.1 by Lender the Lenders from such foreclosure or similar remedy or, if applicable, Lenderthe Administrative Agent’s credit bid at such sale, regardless of the effect of such foreclosure or similar remedy on the Note Loans secured by such Collateral Documents under the applicable state law. If Lender accepts an assignment in lieu For the avoidance of foreclosure doubt, notwithstanding any other provision of this Credit Agreement, each Qualified Borrower is liable only for its payment obligations under its Qualified Borrower Note and is not liable for any other Obligations on any basis. All Loans and Letters of Credit provided to a portion of Qualified Borrower hereunder shall be guaranteed only by the Collateral from applicable Borrower or Operating Lessee OwnerBorrowers in accordance with the applicable Qualified Borrower Guaranty, then and such acceptance Borrower or Borrowers shall not be deemed to diminish Borrower’s liability jointly and severally liable with such Qualified Borrower for the full amount of the Loan Loans and Letters of Credit and other Obligations of such Qualified Borrower’s or Operating Lessee Owner’s other liabilities under this Agreement and the other Loan Documents, except to the extent that Lender agrees otherwise in writing. Breach Under Agreement . It is the intent of the parties hereto in determining whether (a) a breach of any representation, warranty or covenant in this Agreement has occurred, or (b) an event has occurred which would create recourse obligations under this Agreement, that any such breach, occurrence or event with respect to Borrower or Operating Lessee Owner shall be deemed to be such a breach, occurrence or event with respect to Borrower or Operating Lessee Owner, as applicable, under this Agreement and that Borrower and Operating Lessee Owner need not have been involved with such breach, occurrence or event in order for the same to be deemed such a breach, occurrence or event with respect to Borrower or Operating Lessee Owner, as applicable, under this Agreement. Waivers .