Subordinate Loan Defaults. Subordinate Lender shall send to Senior Lender simultaneously with the delivery of any of the following notices to Borrower, in accordance with the notice provisions set forth in Section 8 hereof, a copy of each written notice or writing or other written communication given by or on behalf of Subordinate Lender with respect to: (a) any default or event of default under or pursuant to the Subordinate Loan Documents; (b) any documents regarding any agreement or proposed agreement with respect to any foreclosure under the Subordinate Loan Documents, including, but not limited to, any deed in lieu of foreclosure; and (c) the exercise by Subordinate Lender of any other rights or remedies under the Subordinate Loan Documents.
Appears in 2 contracts
Samples: Operating Agreement (New York Times Co), Operating Agreement (New York Times Co)
Subordinate Loan Defaults. Subordinate Lender shall send to Senior Lender simultaneously with the delivery of any of the following notices to Borrower, in accordance with the notice provisions set forth in Section 8 hereof, a copy of each written notice or writing or other written communication given by or on behalf of Subordinate Lender with respect to: (a) any default or event of default under or pursuant to the Subordinate Loan Documents; (b) any documents regarding any agreement or proposed agreement with respect to any foreclosure under the Subordinate Loan Documents, including, but not limited to, any deed in lieu of foreclosure, or regarding any other remedial action to be taken by Subordinate Lender or any so-called “workout,” “standstill” or other arrangement made in lieu of the exercise of remedies; and (c) the exercise by Subordinate Lender of any other rights or remedies under the Subordinate Loan Documents.
Appears in 2 contracts
Samples: Building Loan Agreement (New York Times Co), Project Loan Agreement (New York Times Co)
