Action by Lender Clause Samples
Action by Lender. Guarantor hereby consents and agrees that Lender may at any time, and from time to time, without notice to or further consent from Guarantor, either with or without consideration, substitute for any collateral so held by it, other collateral of like kind or of any kind; agree to modify the terms of the Promissory Note; extend or renew obligations evidenced by the Promissory Note for any period; grant releases, compromises and indulgences with respect to the Promissory Note and to any persons or entities now or hereafter liable thereunder or hereunder; release any Guarantor or any other guarantor or endorser of the Promissory Note; or take or fail to take any action of any type whatsoever. No such action which Lender shall take or fail to take in connection with the Promissory Note, or any security for the payment of the indebtedness of Borrower to Lender or for the performance of any obligations or undertakings of Borrower, nor any course of dealing with Borrower or any other person, shall release Guarantor's obligations hereunder, affect this Guaranty in any way or afford Guarantor any recourse against Lender. The provisions of this Guaranty shall extend and be applicable to all renewals, amendments, extensions, consolidations or modifications of the Promissory Note, and any and all references herein to the Promissory Note shall be deemed to include any such renewals, extensions, amendments, consolidations or modifications thereof.
Action by Lender. Except as provided in Sections 2.4(c) and 8.1 hereof, any action entitled to be taken by Lender shall require the consent of Persons with at least fifty percent (50%) interest in and rights to the Senior Subordinated Note at the time such action is taken.”
(u) Section 8.3 of the Loan Agreement shall be deleted in its entirety and replaced with the following:
Action by Lender. Unless otherwise expressly provided for herein, any action entitled to be taken by Lender shall require the consent of Persons with at least fifty percent (50%) interest in and rights under this Agreement at the time such action is taken.
Action by Lender. Notwithstanding any other provision of this Agreement, a Lender may forestall any action by City for a breach or default under the terms of this Agreement by Developer by commencing proceedings to foreclose its encumbrance or lien on the Project or the Site. The proceedings so commenced may be for foreclosure of the encumbrance by order of court or for foreclosure of the encumbrance under a power of sale contained in the instrument creating the encumbrance or lien. The proceedings shall not, however, forestall any such action by the City for the default or breach by Developer unless:
a. They are commenced within thirty (30) days after service on Developer (and on Lender if Lender’s address is directly provided to the City) of the notice described hereinabove;
b. They are, after having been commenced, diligently pursued in the manner required by law to completion; and
c. Lender keeps and performs all of the terms, covenants and conditions of this Agreement requiring the payment or expenditure of money by Developer until the foreclosure proceedings are complete or are discharged by redemption, satisfaction or payment.
Action by Lender. The Borrower hereby irrevocably constitutes and appoints the Lender its true and lawful attorney-in-fact, during the continuance of any Event of Default, to execute, acknowledge and deliver such documents, instruments and certificates, and to take such other actions, in the name and on behalf of the Borrower and at the sole cost and expense of the Borrower, as the Lender, in its sole discretion, deems necessary, desirable or appropriate to effectuate the provisions of this Schedule 6.
Action by Lender. Valley shall have notified Valley's principal lender of this proposed transaction, including the possible merger of NewCo into Valley, and no objection shall have been received from the principal lender to this Agreement or to the transactions contemplated herein.
Action by Lender. 33 8.3 Modifications, Amendments or Waivers.................
Action by Lender. The Lender will hold in accordance with this Security Agreement all items of the Collateral at any time received under this Security Agreement. It is expressly understood and agreed that the obligations of the Lender as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Security Agreement, are only those expressly set forth in this Security Agreement.