Additional Rights of Lender. In addition to any other right Lender may have to draw upon a Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full any Letter of Credit: (a) if Lender has received a notice from the issuing bank that the Letter of Credit will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (b) upon receipt of notice from the issuing bank that the Letter of Credit will be terminated (except if a substitute Letter of Credit is provided); or (c) if Lender has received notice that the bank issuing the Letter of Credit shall cease to be an Approved Bank (unless an alternative Approved Bank issues an equivalent Letter of Credit within fifteen (15) days of Borrower’s receipt of notice of same). Notwithstanding anything to the contrary contained in the above, Lender is not obligated to draw any Letter of Credit upon the happening of an event specified in (a), (b) or (c) above and shall not be liable for any losses sustained by Borrower due to the insolvency of the bank issuing the Letter of Credit if Lender has not drawn the Letter of Credit.
Additional Rights of Lender. In addition to any other right Lender may have to draw upon a Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full any Letter of Credit: (a) with respect to any evergreen Letter of Credit, if Lender has received a notice from the issuing bank that the Letter of Credit will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (b) with respect to any Letter of Credit with a stated expiration date, if Lender has not received a notice from the issuing bank that it has renewed the Letter of Credit at least thirty (30) days prior to the date on which such Letter of Credit is scheduled to expire and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; (c) upon receipt of notice from the issuing bank that the Letter of Credit will be terminated (except if the termination of such Letter of Credit is permitted pursuant to the terms and conditions of this Agreement or a substitute Letter of Credit is provided); or (d) if Lender has received notice that the bank issuing the Letter of Credit shall cease to be an Eligible Institution, and Borrower shall have failed to provide a replacement Letter of Credit within five (5) Business Days thereof. Notwithstanding anything to the contrary contained in the above, Lender is not obligated to draw any Letter of Credit upon the happening of an event specified in (a), (b), (c) or (d) above and shall not be liable for any losses sustained by Borrower due to the insolvency of the bank issuing the Letter of Credit if Lender has not drawn the Letter of Credit. If any Letter of Credit proceeds shall be disbursed to Lender hereunder, Borrower shall thereafter be permitted to deliver to Lender, as a replacement for such cash proceeds, either a Letter of Credit or Reserve Guaranty in the amount of the cash proceeds then remaining after application in accordance with the terms hereof, and Lender shall promptly disburse such remaining cash proceeds to Borrower upon its receipt of such replacement Letter of Credit or Reserve Guaranty.
Additional Rights of Lender. (a) Lender shall have the right and power to institute and maintain such suits and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this Security Agreement and may proceed by suit or suits at law or in equity to enforce such rights and to foreclose upon and sell the Collateral or any part thereof pursuant to the judgment or decree of a court of competent jurisdiction.
Additional Rights of Lender. (a) Lender may take or release other security for the payment of the Loan and other indebtedness secured by the Loan Documents, may release any party primarily or secondarily liable therefor and may apply any other security held by it to the satisfaction of the Loan and such other indebtedness without prejudice to any of its rights under this Assignment.
Additional Rights of Lender. The Lender may exercise any of the rights and remedies in Sections 9.6 or 9.7 upon the occurrence of any Default whether or not the Lender has formally declared an Event of Default or accelerated any Obligations, provided, however, that the Lender shall not exercise any rights or remedies pursuant to this Section 9.11 until after the Borrower is on notice of the circumstance or condition that would give rise to the Default.
Additional Rights of Lender. If an Event of Default exists with respect to the Loan, Lender may, at its option and without demand, declare the entire principal sum under the Note to be due and payable immediately and may enter into possession of the Real Estate or any portion thereof and perform any and all work and labor necessary to repair and maintain the Real Estate. All sums so expended by Lender shall be deemed paid to Borrower and secured by all documents executed and delivered pursuant to the Loan. Upon and during the pendency of an Event of Default, each payment to Lender shall be applied to the payment of accrued and unpaid interest and to the reduction of the principal balance in such order and in such amounts as Lender shall determine, in its sole discretion; otherwise, such payments shall be applied first to accrued and unpaid interest and then to principal. Lender may from time to time without notice to Borrower (a) release any collateral or substitute or exchange any collateral, (b) release, modify or compromise any liability of Borrower or any other obligor, or the terms thereof and (c) apply any amounts paid to Lender with such marshalling of security as Lender may, in its sole discretion, determine appropriate to the extent permitted by law; all without the consent of or proper notice to Borrower. The liability of Borrower shall not be released in part or in whole by reason of the foregoing, the addition of co-makers, endorsers, guarantors or sureties, or a failure to perfect any security interest or lien in any collateral or a failure to proceed in any particular manner with respect to any collateral. All rights or remedies of Lender hereunder are cumulative and are in addition to, not in limitation of, any rights or remedies which it may have by law.
Additional Rights of Lender. This Agreement shall become effective on the date that all of the following conditions shall have been satisfied (or waived in writing by Lender; it being agreed that Lender’s funding of the Loan shall constitute Lender’s agreement that such conditions have been satisfied or waived unless the parties shall have otherwise agreed in writing):
Additional Rights of Lender. Lender may, from time to time, without notice to Borrower, do any acts which it deems necessary or desirable to preserve the value or marketability of the Collateral, or any part thereof or interest therein, increase the income therefrom or protect the security hereof including, without limitation, any of the following: (a) retain or obtain a security interest in any property, in addition to the Collateral, to secure any of the Obligations, (b) retain or obtain the primary or secondary liability of any party or parties with respect to any of the Obligations, (c) extend or renew for any period, regardless of whether such extension or renewal period be longer than the original period, or exchange, any of the Obligations or release or compromise any Obligations of any party or parties primarily or secondarily liable thereon, (d) release its security interest in all or any property, in addition to the Collateral, securing any of the Obligations, and permit any substitution or exchange for any such property, (e) delay or omit to exercise any right or power with respect to any Obligations, (f) delay in enforcement of payment of indebtedness relating to the Obligations, (g) resort to the Collateral for payment of any of the Obligations, regardless of whether Lender has resorted to any other property, or has proceeded against any party primarily or secondarily liable on any of the Obligations, and (h) make any amendments to any of the Documents.
Additional Rights of Lender. Lender may, at any time until the Loan is paid in full, do any or all of the following without notice to, or the consent of, Herndon and without affecting the obligations of Herndon as provided in this Agreement:
Additional Rights of Lender. (a) Upon the occurrence of an Event of Default (as defined herein), Guarantor hereby constitutes and appoints Lender (and any employee or agent of Lender, with full power of substitution) its true and lawful attorney and agent in fact to take any or all of the actions described below in Lender's or Guarantor's name and at Guarantor's expense:
