Examples of Project Loan Documents in a sentence
Nothing contained in the Regulatory Agreement shall affect any provision of the Security Instrument or any of the other Project Loan Documents that requires the Borrower to obtain the consent of the Funding Lender as a precondition to sale, transfer or other disposition of, or any direct or indirect interest in, the Project or of any direct or indirect interest in the Borrower, excluding transfers permitted by the Security Instrument.
Notwithstanding anything provided herein, or in any of the documents referred to herein, in the event that any contracts or other documents executed by the Borrower or any other arrangements agreed to by the Borrower in order to finance or refinance the Project with the proceeds of the Funding Loan are inconsistent with the Project Loan Documents, then the Project Loan Documents shall be controlling in all respects.
The Funding Lender shall have no indemnification obligations with respect to the Governmental Note or the Project Loan Documents.
The Funding Xxxxxx’s remedies in the event of a default under the Funding Loan shall be limited to those remedies set forth herein and, if an Event of Default also exists under the Project Loan Agreement or the Project Note, to commence foreclosure under the Security Instrument and the other Project Loan Documents and to exercise of the power of sale or other rights granted thereunder.
Notwithstanding anything contained in the Regulatory Agreement to the contrary: (i) the occurrence of an event of default under the Regulatory Agreement shall not, under any circumstances whatsoever, be deemed or constitute a default under the Project Loan Documents, except as may be otherwise specified in the Project Loan Documents; and (ii) the occurrence of an event of default under the Regulatory Agreement shall not impair, defeat or render invalid the lien of the Security Instrument.