Common use of The FCRHA’s Rights During an Event of Default Clause in Contracts

The FCRHA’s Rights During an Event of Default. At the FCRHA’s option after the occurrence and during the continuance of an Event of Default by Tenant, the FCRHA may withdraw any monies deposited pursuant to Articles 4 or 5 for the cure of any monetary Event of Default. The FCRHA and Tenant shall enter into a mutually acceptable depository agreement with the Depository with respect to the Impositions Account. Tenant agrees that any such depository agreement will provide that the FCRHA will have a unilateral right to withdraw money from the Impositions Account after the occurrence and during the continuance of an Event of Default by Tenant to pay Impositions or to cure a monetary Event of Default under this Lease and Tenant shall have no consent rights over any such withdrawal. If this Lease is terminated by reason of an Event of Default or if Tenant is dispossessed of the Premises pursuant to Article 24 of the Lease, all monies deposited in the Impositions Account then held by Depository shall, at the FCRHA’s direction, be paid and applied to the FCRHA in payment for such Event of Default and any and all other sums due under this Lease and Tenant shall promptly pay any resulting deficiency (if any).