Common use of Updated Appraisals Clause in Contracts

Updated Appraisals. Borrower agrees that Administrative Agent shall have the right to obtain an updated Appraisal of the Property from an appraiser approved by Administrative Agent at any time (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent determines in good faith that the security for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence an Event of Default. In the event that Administrative Agent shall elect to obtain such an Appraisal, Administrative Agent may immediately commission an appraiser acceptable to Administrative Agent to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails to cooperate with Administrative Agent in obtaining such an Appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following demand, such event shall constitute an Event of Default hereunder and Administrative Agent shall be entitled to exercise all remedies available to it hereunder.

Updated Appraisals. Borrower agrees that Administrative Agent Lender shall have the right to obtain obtain, once during the term of each Development Project Loan and each Construction Project Loan, at Borrower's expense, an updated Appraisal of any Project for which an Appraisal is required under the Property from an appraiser approved by Administrative Agent at any time terms hereof, acceptable to Lender's internal appraisal group, in the event that (a) that an Event event of Default default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent Lender determines in good faith its reasonable opinion that the security for the Project Loan for said Project has been physically or financially impaired in any material mannerrespect, and any or (c) such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be Appraisal is required by then current Governmental Requirements applicable to pay for more than one Appraisal per calendar year except upon the occurrence an Event of DefaultLender. In the event that Administrative Agent Lender shall elect to obtain such an Appraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent Lender, at Borrower's cost and expense, to prepare such Appraisal the Appraisal, and Borrower shall fully cooperate with Administrative Agent Lender and the appraiser in obtaining the necessary information to prepare such an Appraisal. In the event that Borrower fails to cooperate with Administrative Agent Lender in obtaining such an Appraisal Appraisal, or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly an Appraisal, within ten (10) days following demand, such event shall constitute an Event event of Default hereunder default hereunder, and Administrative Agent Lender shall be entitled to exercise all remedies therefor available to it hereunder. In the event that any such Appraisal shall conclude that the Loan to Value Ratio for any Project is greater than that required hereunder for a particular Project, and Borrower fails to prepay, within thirty (30) days after written notice from Lender to Borrower, the outstanding principal balance of the Project Loan, including any amounts which Lender is obligated to Fund, to the extent necessary to reduce the Loan to Value Ratio down to that required hereunder, such event shall constitute an event of default hereunder, and Lender shall be entitled to exercise all remedies therefor available to it hereunder.

Updated Appraisals. Each Borrower agrees that Administrative Agent Lender shall have the right to obtain an updated Appraisal of the each Hotel Property from an appraiser approved by Administrative Agent Lender at any time (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative AgentLender, or (c) Administrative Agent Lender determines in good faith that the any security for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s Borrowers’ expense; provided that Borrower Borrowers shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence and during the continuance of an Event of Default. In the event that Administrative Agent Lender shall elect to obtain such an Appraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent Lender to prepare such Appraisal and Borrower Borrowers shall fully cooperate with Administrative Agent Lender and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails Borrowers fail to cooperate with Administrative Agent Lender in obtaining such an Appraisal or in the event that Borrower Borrowers shall fail to pay for the cost of such Appraisal promptly following immediately upon demand, such event shall constitute an Event of Default hereunder and Administrative Agent Lender shall be entitled to exercise all remedies available to it hereunder.

Updated Appraisals. Borrower agrees that the Required Lenders for any Series Loan, the Administrative Bank or the Collateral Agent shall have the right to obtain obtain, at Borrower's expense, an updated Appraisal appraisal of the Property from an appraiser Project being financed by such Series Loan, prepared in accordance with Section II.5. hereof and approved by the Administrative Agent Bank's internal appraisal group, at least annually or more frequently at any time that (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by such Required Lenders, the Loan Documents Administrative Bank or then current banking regulations applicable to Administrative Agentthe Collateral Agent determines, or (c) Administrative Agent determines in good faith its reasonable opinion, that the security for the such Series Loan has been physically or financially impaired in any material manner, and any or (c) such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be appraisal is required to pay for more than one Appraisal per calendar year except upon the occurrence an Event of Defaultby then current banking regulations. In the event that such Required Lenders, the Administrative Bank or the Collateral Agent shall elect to obtain such an Appraisalappraisal, the Administrative Agent Bank may immediately commission an appraiser acceptable to such Required Lenders, the Administrative Bank and the Collateral Agent at Borrower's cost and expense, to prepare such Appraisal the appraisal and Borrower shall fully cooperate with the Administrative Agent Bank and the appraiser in obtaining the necessary information to prepare such Appraisalappraisal. In the event that Borrower fails to cooperate with the Administrative Agent Bank in obtaining such an Appraisal appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following appraisal and the Administrative Bank's internal appraisal fee of immediately upon demand, such event shall constitute an Event of Default hereunder and the Administrative Bank shall be entitled to exercise all remedies available to it hereunder. In the event that any such appraisal shall determine that the outstanding principal balance of such Series Loan is greater than the Maximum Loan Amount and Borrower fails to prepay, within ten (10) days after written notice from the Administrative Bank to Borrower, the outstanding principal balance of such Series Loan to the extent necessary to reduce said principal balance down to no more than the Maximum Loan Amount, such event shall constitute an Event of Default hereunder and Lenders, the Administrative Bank and Collateral Agent shall be entitled to exercise all remedies available to it hereunder. Any such prepayment shall not require the payment of the prepayment premium as described in Section I.8.

Updated Appraisals. Borrower agrees that In addition, the Administrative Agent shall have the right but not the obligation to obtain require annual updated appraisals of any or all the Property and the Facilities, which appraisals shall be prepared by an appraiser or appraisers designated by the Administrative Agent and shall be in all respects reasonably acceptable to the Administrative Agent which appraisals shall include, if deemed necessary by the Administrative Agent, in its reasonable discretion, updated Appraisal discounted cash flow analysis, inspections of and commentary on the physical status of the Property from applicable Facility and an appraiser approved by engineering review. The basis of the appraisal calculations shown on such appraisal reports and all other aspects of the appraisal reports must be satisfactory to the Administrative Agent in all material respects. The release of such appraisal reports by the Administrative Agent to the Borrowers shall be at any time (a) that the Administrative Agent's sole option if the Borrowers have not paid the cost of such appraisal. If the Borrowers have paid the cost of the appraisal, a copy of the appraisal will be provided to the Borrowers upon their signing of the Administrative Agent's standard appraisal release letter provided an Event of Default has not occurred and is not continuing. The Borrowers shall have reimburse the Administrative Agent upon demand for all costs and expenses incurred by any of the Lenders with respect to the preparation and review of all future appraisals required pursuant to the terms hereof, if either (i) such appraisal is required by law or banking regulation, (ii) an event of default has occurred hereunderunder the Financing Documents, or (iii) the Administrative Agent has reason to believe a change in value has occurred in the Facility being appraised due to an adverse change in the Facility's occupancy status or operating performance. Section7.29 Notification of Certain Events, Events of Default and Adverse Developments. Promptly give written notice to the Administrative Agent who will forward a copy of the notice to the Lenders upon obtaining knowledge of the occurrence of any of the following: (a) any Event of Default under the Financing Documents; (b) an Appraisal is required any event, development or circumstance whereby the financial statements furnished under the Financing Documents fail in any material respect to present fairly, in accordance with GAAP, the financial condition and operational results of the Borrowers; (c) any judicial, administrative or arbitral proceeding pending against any of the Borrowers or any judicial or administrative proceeding known by the Loan Documents Borrowers to have been threatened against any of them in a written communication which threatened proceeding, if adversely decided, could cause a Material Adverse Change in any of the Borrowers; (d) the revocation, suspension, probation, restriction, limitation or refusal to renew, or any administrative procedure then current banking regulations applicable in process for the revocation, suspension, probation, restriction, limitation, or refusal to renew, of any License, or the decertification, revocation, suspension, probation, restriction, limitation, or refusal to renew, or the pending, decertification, revocation, suspension, probation, restriction, limitation, or refusal to renew or any administrative procedure then in process for any participation or eligibility in any third party payor program in which any of the Borrowers elects to participate, including, without limitation, Medicare, Medicaid or other private insurer programs or any accreditation of any of the Borrowers, or the issuance or pending issuance of any License for a period of less than twelve (12) months, as a consequence of sanctions imposed by any Governmental Authority, or the assessment or pending assessment, of any civil or criminal penalties by any Government Authority, any third party payor or any accreditation organization or Person, which could materially adversely affect the financial condition or operations of any of the Borrowers or an Affiliate (present or prospective) as determined by the Administrative Agent, in its sole but reasonable discretion; (e) any action, including, but not limited to, the filing of any certificate of need application if required by law, the amendment of any facility license or certification, or the issuance of any new license or certification for any Facility, under which any of the Borrowers proposes (ci) to develop a new facility or service and/or (ii) eliminate, materially expand or materially reduce any service; (f) any actual contingent liability or a potential contingent liability threatened or noticed in a written communication to any of the Borrowers of $50,000 or more per Facility; (g) any other development in the business or affairs of the Borrower results in a Material Adverse Change; and (h) in each case listed in clauses (a) through (g), inclusive, of this Section describing in detail satisfactory to the Administrative Agent determines the nature thereof and, in good faith the case, if any, of notification under clause (a), the action the Borrowers propose to take with respect thereto or a statement that the security Borrowers intend to take no action and an explanation of the reasons for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence an Event of Defaultinaction. In addition, the event that Borrowers will furnish to the Administrative Agent shall elect immediately after receipt thereof copies of all administrative notices material to obtain Borrowers' business and operation of any Facility and all responses by or on behalf of the Borrowers with respect to such an Appraisal, Administrative Agent may immediately commission an appraiser acceptable to Administrative Agent to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails to cooperate with Administrative Agent in obtaining such an Appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following demand, such event shall constitute an Event of Default hereunder and Administrative Agent shall be entitled to exercise all remedies available to it hereunderadministrative notices.

Updated Appraisals. Borrower agrees that Administrative Agent the Lender shall have the right to obtain obtain, at the Borrower’s expense, an updated Appraisal appraisal of the Property Plant and Premises from an appraiser approved by Administrative Agent Lender at any time (a) that an Event of Default shall have occurred hereunder, hereunder or (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent Lender determines in good faith its reasonable discretion that the security for the Loan Obligations has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence an Event of Default. In the event that Administrative Agent Lender shall elect to obtain such an Appraisalappraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent the Lender to prepare such Appraisal the appraisal and the Borrower shall shall, after reasonable request therefor, fully cooperate with Administrative Agent the Lender and the appraiser in obtaining the necessary information to prepare such Appraisalappraisal. In the event that the Borrower fails fails, after reasonable request therefor, to cooperate with Administrative Agent the Lender in obtaining such an Appraisal appraisal or in the event that the Borrower shall fail to pay for the cost of such Appraisal promptly following appraisal as soon as practicable, but in no event later than ten (10) business days after demand, such event shall constitute an Event of Default hereunder and Administrative Agent the Lender shall be entitled to exercise all remedies available to it hereunder. The Borrower agrees to deliver an updated appraisal of the Plant and Premises from an appraiser approved by Lender within 60 days after the Closing Date occurs.

Updated Appraisals. Borrower Bxxxxxxx agrees that Administrative Agent shall have the right to obtain an updated Appraisal of the Property from an appraiser approved by Administrative Agent at any time (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent determines in good faith that the security for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per Parcel per calendar year except upon the occurrence an Event of Default. In the event that Administrative Agent shall elect to obtain such an Appraisal, Administrative Agent may immediately commission an appraiser acceptable to Administrative Agent to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower Bxxxxxxx fails to cooperate with Administrative Agent in obtaining such an Appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following demand, such event shall constitute an Event of Default hereunder and Administrative Agent shall be entitled to exercise all remedies available to it hereunder.

Updated Appraisals. Borrower agrees that Administrative In addition, the Agent shall have the right but not the obligation to obtain require annual updated appraisals of any or all the Property and the Facilities, which appraisals shall be prepared by an appraiser or appraisers designated by the Agent and shall be in all respects reasonably acceptable to the Agent which appraisals shall include, if deemed necessary by the Agent, in its reasonable discretion, updated Appraisal discounted cash flow analysis, inspections of and commentary on the physical status of the Property from applicable Facility and an appraiser approved engineering review. The basis of the appraisal calculations shown on such appraisal reports and all other aspects of the appraisal reports must be satisfactory to the Agent in all material respects. The release of such appraisal reports by Administrative the Agent to the Borrower shall be at the Agent's sole option if the Borrower has not paid the cost of such appraisal. If the Borrower has paid the cost of the appraisal, a copy of the appraisal will be provided to the Borrower upon its signing of the Agent's standard appraisal release letter. The Borrower shall reimburse the Agent upon demand for all costs and expenses incurred by any time of the Lenders with respect to the preparation and review of all future appraisals required pursuant to the terms hereof, if either (ai) that such appraisal is required by law or banking regulation, (ii) an Event of Default shall have has occurred hereunder, (b) an Appraisal is required by under the Loan Documents or then current banking regulations applicable to Administrative AgentFinancing Documents, or (ciii) Administrative the Agent determines in has a good faith that the security for the Loan reason to believe a significant change in value has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence an Event of Default. In the event that Administrative Agent shall elect to obtain such an Appraisal, Administrative Agent may immediately commission an appraiser acceptable to Administrative Agent to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails to cooperate with Administrative Agent in obtaining such an Appraisal or occurred in the event that Borrower shall fail Facility being appraised due to pay for a material adverse change in the cost of Facility's occupancy status or operating performance and such Appraisal promptly following demand, appraisal actually reflects such event shall constitute an Event of Default hereunder and Administrative Agent shall be entitled to exercise all remedies available to it hereundersignificant change.

Updated Appraisals. Borrower agrees that Administrative Agent shall have the right to obtain an updated Appraisal of the Property from an appraiser approved by Administrative Agent at any time (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent determines in good faith that the security for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per Parcel per calendar year except upon the occurrence an Event of Default. In the event that Administrative Agent shall elect to obtain such an Appraisal, Administrative Agent may immediately commission an appraiser acceptable to Administrative Agent to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails to cooperate with Administrative Agent in obtaining such an Appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following demand, such event shall constitute an Event of Default hereunder and Administrative Agent shall be entitled to exercise all remedies available to it hereunder.

Updated Appraisals. Borrower agrees that Administrative Agent the Lender shall have the right to obtain obtain, at Borrower’s expense, an updated Appraisal MAI appraisal (in form and substance reasonably satisfactory to Lender) of the Property Project from an appraiser approved by Administrative Agent Lender at any time (a) that an Event of Default shall have occurred hereunder, or (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent Lender determines in good faith its commercially reasonable discretion that the security for the Loan Obligations has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon or (c) or Final Completion of the occurrence an Event of DefaultProject. In the event that Administrative Agent Lender shall elect to obtain such an Appraisalappraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent Lender to prepare such Appraisal the appraisal and Borrower shall shall, after reasonable request therefor, fully cooperate with Administrative Agent Lender and the appraiser in obtaining the necessary information to prepare such Appraisalappraisal. In the event that Borrower fails fails, after reasonable request therefor, to cooperate with Administrative Agent Lender in obtaining such an Appraisal appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following appraisal as soon as practicable, but in no event later than ten (10) business days after demand, such event shall constitute an Event of Default hereunder and Administrative Agent Lender shall be entitled to exercise all remedies available to it hereunder. Notwithstanding the foregoing, unless otherwise required by applicable law or regulation, in the event Lender receives the results of such an appraisal in another capacity (such as a lender or participant under the Revolving Loan Documents), Lender shall not separately exercise its rights under this Section.

Updated Appraisals. Borrower agrees that Administrative Agent Lender shall have the right to obtain an updated Appraisal of the Property from an appraiser approved by Administrative Agent Lender at any time (a) that an Event of Default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative AgentLender, or (c) Administrative Agent Lender determines in good faith that the security for the Loan has been physically or financially impaired in any material manner, and any such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be required to pay for more than one Appraisal per calendar year except upon the occurrence and during the continuance of an Event of Default. In the event that Administrative Agent Lender shall elect to obtain such an Appraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent Lender to prepare such Appraisal and Borrower shall fully cooperate with Administrative Agent Lender and the appraiser in obtaining the necessary information to prepare such Appraisal. In the event that Borrower fails to cooperate with Administrative Agent Lender in obtaining such an Appraisal or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly following immediately upon demand, such event shall constitute an Event of Default hereunder and Administrative Agent Lender shall be entitled to exercise all remedies available to it hereunder.

Updated Appraisals. Borrower agrees that Administrative Agent Bank shall have the right to obtain obtain, at Borrower’s expense, an updated Appraisal appraisal of the Property from an appraiser approved by Administrative Agent Project, prepared in accordance with Section 2.5 hereof, at any time that (a) that Borrower gives notice of any election to extend the Maturity Date pursuant to Section 1.10 and Section 1.11 hereof, (b) an Event of Default shall have occurred and be continuing hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent determines after the occurrence of an Event of Default Bank determines, in good faith its sole discretion, that the security for the Loan has been physically or financially impaired in any material manner, and any or (d) such Appraisals shall be appraisal is required by then current banking laws or regulations, or (e) a Material Adverse Occurrence has occurred as to Borrower or the Project. Without limitation of the foregoing, Bank may, at BorrowerBank’s expense; provided that Borrower shall not be required , elect to pay for more than one Appraisal per calendar year except upon obtain an appraisal from time to time regardless of whether any of the occurrence an Event of Defaultevents described in (a) through (e) above have occurred. In the event that Administrative Agent Bank shall elect to obtain such an Appraisalappraisal, Administrative Agent Bank may immediately commission an appraiser acceptable to Administrative Agent Bank, to prepare such Appraisal and the appraisal. Borrower shall fully cooperate with Administrative Agent Bank and the appraiser in obtaining the necessary information to prepare such Appraisalappraisal. Borrower shall pay within fifteen (15) days of Borrower’s receipt of an invoice from Bank (i) the cost of such appraisal in those instances in which it is Borrower’s responsibility to pay for the appraisal, and (ii) Bank’s internal appraisal review fees. In the event that Borrower fails Bank shall determine from an appraisal that the Loan to cooperate with Administrative Agent in obtaining such an Appraisal or in Value Requirement is not satisfied after the event that Borrower shall fail to pay for the cost occurrence of such Appraisal promptly following demand, such event shall constitute an Event of Default hereunder or in connection with the exercise of an extension of the Maturity Date under Section 1.10 and Administrative Agent Section 1.11 of this Agreement, Borrower shall prepay the Loan, within fifteen (15) days after written notice from Bank to Borrower, in such amount as is necessary to cause the satisfaction of the Loan to Value Requirement based on such appraisal. In the event such appraisal is required by reason of the damage or destruction of a portion of the Project, the fair market value shall be entitled calculated on the Project after restoration of the Improvements, but subject only to exercise all remedies available to it hereunderthen existing Residential Leases, if any, which will remain in full force and effect following such restoration, and any funds collected from rent loss or from business interruption insurance coverage.

Updated Appraisals. Borrower agrees that Administrative Agent Lender shall have the right to obtain obtain, once during the term of the Loan as to each Phase of the Development Project and as to each Construction Project Loan, at Borrower's expense, an updated Appraisal of any Project for which an Appraisal is required under the Property from an appraiser approved by Administrative Agent at any time terms hereof, acceptable to Lender's internal appraisal group, in the event that (a) that an Event event of Default default shall have occurred hereunder, (b) an Appraisal is required by the Loan Documents or then current banking regulations applicable to Administrative Agent, or (c) Administrative Agent Lender determines in good faith its reasonable opinion that the security for the Project Loan for said Project has been physically or financially impaired in any material mannerrespect, and any or (c) such Appraisals shall be at Borrower’s expense; provided that Borrower shall not be Appraisal is required by then current Governmental Requirements applicable to pay for more than one Appraisal per calendar year except upon the occurrence an Event of DefaultLender. In the event that Administrative Agent Lender shall elect to obtain such an Appraisal, Administrative Agent Lender may immediately commission an appraiser acceptable to Administrative Agent Lender, at Borrower's cost and expense, to prepare such Appraisal the Appraisal, and Borrower shall fully cooperate with Administrative Agent Lender and the appraiser in obtaining the necessary information to prepare such an Appraisal. In the event that Borrower fails to cooperate with Administrative Agent Lender in obtaining such an Appraisal Appraisal, or in the event that Borrower shall fail to pay for the cost of such Appraisal promptly an Appraisal, within ten (10) days following demand, such event shall constitute an Event event of Default hereunder default hereunder, and Administrative Agent Lender shall be entitled to exercise all remedies therefor available to it hereunder.