Protection of Lender’s Interest Sample Clauses

Protection of Lender’s Interest. If: (i) Borrower fails to perform the covenants and agreements contained in this Security Instrument; (ii) there is a legal proceeding or government order that might significantly affect Lender’s interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien that has priority or may attain priority over this Security Instrument, or to enforce laws or regulations); or (iii) Lender reasonably believes that Xxxxxxxx has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Xxxxxx’s interest in the Property and/or rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender’s actions may include, but are not limited to: (I) paying any sums secured by a lien that has priority or may attain priority over this Security Instrument; (II) appearing in court; and (III) paying: (A) reasonable attorneys’ fees and costs; (B) property inspection and valuation fees; and (C) other fees incurred for the purpose of protecting Lender’s interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, exterior and interior inspections of the Property, entering the Property to make repairs, changing locks, replacing or boarding up doors and windows, draining water from pipes, eliminating building or other code violations or dangerous conditions, and having utilities turned on or off. Although Lender may take action under this Section 9, Lender is not required to do so and is not under any duty or obligation to do so. Lender will not be liable for not taking any or all actions authorized under this Section 9.
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Protection of Lender’s Interest. 8.13.1. Borrower shall cause its insurance carrier to agree:
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Protection of Lender’s Interest. Lender may do and pay for whatever is reasonable or appropriate to protect Xxxxxx’s interest in the Property and its rights under this Trust Deed, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Any amounts disbursed by Xxxxxx under this Section shall become additional debt of Borrower secured by this Trust Deed. These amounts shall bear interest at the same rate as the Principal Amount in the Note.
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Protection of Lender’s Interest. To the extent commercially obtainable, in each insurance policy (or an endorsement thereto), the carrier shall: (a) agree not to cancel or terminate such policy without giving Administrative Agent thirty (30) days’ prior written notice (ten (10) days’ notice for nonpayment of premium); (b) waive any right to claim any premiums and commissions against Administrative Agent or any Lender, provided that the policy need not waive the requirement that the premium be paid in order for a claim to be paid to the insured; and (c) allow Administrative Agent or any Lender to pay premiums to continue such policy upon notice of cancellation for nonpayment. Every property insurance policy shall provide that as to Administrative Agent’s interest, such policy shall remain valid and shall insure Administrative Agent regardless of any: (1) named insured’s act, failure to act, negligence, or violation of warranties, declarations, or conditions; (2) occupancy or use of the Improvements for purposes more hazardous than those permitted; or (3) Administrative Agent’s or any Lender’s exercise of any of their respective rights or remedies hereunder or under any of the Loan Documents. Administrative Agent reserves the right for them or their designated representative to review full and complete copies of Borrower’s insurance policies required hereunder. Such policy review to take place at a location of mutual consent within seven (7) days of Administrative Agent’s written request. It is agreed that such request shall take place only in the event of a direct damage claim to one of the locations that are the subject of this agreement, or a significant third party claim resulting from the operations at one of the locations that is the subject of this agreement.
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Protection of Lender’s Interest. (a) Borrower shall cause its insurance carrier to give Lender the following protections in each insurance policy (or an endorsement) as follows:
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Protection of Lender’s Interest. Debtor will defend the Property against any other claim. Xxxxxx agrees to do whatever Lender requires to protect Xxxxxx’s security interest and keep Xxxxxx’s claim in the Property ahead of the claims of other creditors. Debtor will not do anything to harm Xxxxxx’s position. Debtor will keep, and allow Lender reasonable access to, books, records, and accounts about the Property and Xxxxxx’s business in general. If this Security Agreement covers chattel paper or instruments, either as original collateral or proceeds of the Property, Debtor will note Xxxxxx’s interest on the face of the chattel paper or instruments. Use, Location, and Protection of the Property. Debtor will keep the Property in Debtor’s possession and in good repair. Debtor will use the Property only for commercial or agricultural purposes and will not change this specified use without Lender’s prior written consent. Xxxxxx has the right of reasonable access to inspect the Property and Debtor will immediately inform Xxxxxx of any loss or damage to the Property. Debtor will not cause or permit waste to the Property. Debtor will keep the Property at Debtor’s address unless Xxxxxx and Debtor agree that it may be kept at another location. If the Property is to be used in other states, Debtor will give Lender a list of those states. Debtor will notify Xxxxxx in writing and obtain Xxxxxx’s prior written consent to any change in location of any of the Property. The location of the Property is given to aid in the identification of the Property and does not in any way limit the scope of the security interest granted to Lender. Debtor will not use the Property in violation of any law. Debtor will notify Lender in writing prior to any change in Debtor’s address, name or, if an organization, any change in Debtor’s identity or structure. Debtor will pay all taxes and assessments levied or assessed against Debtor or the Property and provide timely proof of payment of these taxes and assessments upon request. Selling, Leasing, or Encumbering the Property. Debtor will not sell, offer to sell, lease, grant a security interest in, or otherwise transfer or encumber the Property without Xxxxxx’s prior written permission, except for Inventory sold in the ordinary course of business at fair market value, or at a minimum price established between Debtor and Lender. If Debtor is in default under this Security Agreement, Debtor may not sell the Inventory portion of the Property even in the ordinary course of business...
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Protection of Lender’s Interest. The Lender may take appropriate action to protect their interest in the Property and its rights under this Trust Deed, including assessing the value of the Property, and securing and repairing the Property. Any amount disbursed by the Lender will become additional debt secured in this Trust Deed bearing the same rate as the Principal Amount in the Note.
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Protection of Lender’s Interest. To the extent commercially obtainable, in each insurance policy (or an endorsement thereto), the carrier shall: (a) agree not to cancel or terminate such policy without giving Administrative Agent thirty (30) days’ prior written notice (ten (10) days’ notice for nonpayment of premium), or if such notice is not granted by the carrier, Borrower shall provide such notice upon receipt of the same; (b) waive any right to claim any premiums and commissions against Administrative Agent or any Lender, provided that the policy need not waive the requirement that the premium be paid in order for a claim to be paid to the insured; and (c) allow Administrative Agent or any Lender to pay premiums to continue such policy upon notice of cancellation for nonpayment. Every property insurance policy shall provide that as to Administrative Agent’s interest, such policy shall remain valid and shall insure Administrative Agent regardless of any: (1) named insured’s act, failure to act, negligence, or violation of warranties, declarations, or conditions; (2) occupancy or use of the Improvements for purposes more hazardous than those permitted; or (3) Administrative Agent’s or any Lender’s exercise of any of their respective rights or remedies hereunder or under any of the Loan Documents.
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Protection of Lender’s Interest. To the extent commercially obtainable, in each insurance policy (or an endorsement thereto), the carrier shall: (a) agree not to cancel or terminate such policy without giving Administrative Agent thirty (30) days’ prior written notice (ten (10) days’ notice for nonpayment of premium), which if the carrier cannot provide such notice, the obligation shall fall to the Borrower to provide; (b) waive any right to claim any premiums and commissions against Administrative Agent or any Lender, provided that the policy need not waive the requirement that the premium be paid in order for a claim to be paid to the insured; and (c) allow Administrative Agent or any Lender to pay premiums to continue such policy upon notice of cancellation for nonpayment. Every property insurance policy shall provide that as to Administrative Agent’s interest, such policy shall remain valid and shall insure Administrative Agent regardless of any: (1) named insured’s act, failure to act, negligence, or violation of warranties, declarations, or conditions; (2) occupancy or use of the Improvements for purposes more hazardous than those permitted; or (3) Administrative Agent’s or any Lender’s exercise of any of their respective rights or remedies hereunder or under any of the Loan Documents. Administrative Agent reserves the right for them or their designated representative to review full and complete copies of Borrower’s insurance policies required hereunder. Such policy review to take place at a location of mutual consent within seven (7) days of Administrative Agent’s written request. It is agreed that such request shall take place only in the event of a direct damage claim to one of the locations that are the subject of this agreement, or a third party claim equal to or in excess of $1,000,000 resulting from the operations at one of the locations that is the subject of this agreement.
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Related to Protection of Lender’s Interest

  • Obligation of Lenders The obligation of any Lender under any Syndicated Letter of Credit shall be several and not joint and shall at any time be in an amount equal to such Lender’s Applicable Percentage of the aggregate undrawn amount of such Syndicated Letter of Credit, and each Syndicated Letter of Credit shall expressly so provide.

  • Notification of Lenders Within five (5) Business Days after receiving any notice under this §7.5, the Agent will forward a copy thereof to each of the Lenders, together with copies of any certificates or other written information that accompanied such notice.

  • Replacement of Lender If the Borrower is required pursuant to Sections 3.1, 3.2 or 3.4 to make any additional payment to any Lender or if any Lender defaults in its obligation to make a Revolving Loan or declines to approve an amendment or waiver that is approved by the Required Lenders or otherwise becomes a Defaulting Lender (any Lender so affected an “Affected Lender”), the Borrower may elect, if such amounts continue to be charged or such suspension is still effective, to replace such Affected Lender as a Lender party to this Agreement, provided that no Default or Event of Default shall have occurred and be continuing at the time of such replacement, and provided further that, concurrently with such replacement, (a) another bank or other entity which is reasonably satisfactory to the Borrower and the Administrative Agent shall agree, as of such date, to purchase for cash at par the Revolving Loans and other Obligations due to the Affected Lender under this Agreement and the Related Documents pursuant to an assignment substantially in the form of Exhibit D and to become a Lender for all purposes under this Agreement and to assume all obligations of the Affected Lender to be terminated as of such date and to comply with the requirements of Section 13.3 applicable to assignments, and (b) the Borrower shall pay to such Affected Lender in same day funds on the day of such replacement all interest, fees and other amounts then accrued but unpaid to such Affected Lender by the Borrower hereunder to and including the date of termination, including without limitation payments due to such Affected Lender under Sections 3.1, 3.2 and 3.4.

  • Substitution of Lenders Upon the receipt by the Borrower from any Lender of a claim under Section 2.17, 2.18 or 2.20, or upon receipt by the Borrower of written notice that any Lender has become a Defaulting Lender in accordance with the provisions set forth in the definition of “Defaulting Lender”, or if any Lender refuses to consent to any amendment, waiver or other modification of any Loan Document requested by the Borrower that requires the consent of all Lenders directly affected thereby and such amendment, waiver or other modification is consented to by the Required Lenders, the Borrower may: (a) request one more of the other Lenders to acquire and assume all or part of such Lender’s Loans, Reimbursement Obligations and Revolving Credit Commitment; or (b) replace such Lender by designating another Lender or a financial institution that is willing to acquire such Loans and Reimbursement Obligations and assume such Revolving Credit Commitment; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default (other than, in the case of the replacement of a Defaulting Lender, as a result of the failure of the Borrower to satisfy its cash collateralization obligations pursuant to Section 2.31(a)(ii)) shall have occurred and be continuing at the time of such replacement, (iii) the Borrower shall repay (or the replacement bank or institution shall purchase, at par) all Loans and Reimbursement Obligations, accrued interest, fees and other amounts owing to such replaced Lender prior to the date of replacement (including all amounts then owing to such replaced Lender pursuant to Sections 2.17, 2.18 and 2.20 and, if applicable, the prepayment fee pursuant to Section 2.3(d) (with such assignment being deemed to be a voluntary prepayment for purposes of determining the applicability of Section 2.9, such amount to be payable by the Borrower)), (iv) the Borrower shall be liable to such replaced Lender under Section 2.19 if any Eurodollar Loan owing to such replaced Lender shall be prepaid (or purchased) other than on the last day of the Interest Period relating thereto, (v) the replacement bank or institution, if not already a Lender, shall be reasonably satisfactory to the Administrative Agent and the Issuing Lender, and (vi) the replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 9.6 (provided that the Borrower or replacement Lender shall be obligated to pay the registration and processing fee except in the case of a Defaulting Lender). Each of the Issuing Lender and each Lender hereby grants to the Administrative Agent an irrevocable power of attorney (which power is coupled with an interest) to execute and deliver, on behalf of the Issuing Lender or such Lender, as the case may be, as assignor, any Assignment and Assumption necessary to effectuate any assignment of the Issuing Lender’s or such Lender’s interests hereunder in the circumstances contemplated by this Section 2.22. A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.

  • Replacement of Lenders If any Lender requests compensation under Section 3.04, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower may replace such Lender in accordance with Section 10.13.

  • Rights of Lender The Guarantor consents and agrees that the Lender may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Guaranteed Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Guaranteed Obligations; (c) apply such security and direct the order or manner of sale thereof as the Lender in its sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Guaranteed Obligations. Without limiting the generality of the foregoing, the Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of the Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of the Guarantor.

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