Common use of Claims Against Lender Clause in Contracts

Claims Against Lender. Lender shall not be in default under this Agreement, or under any other Loan Documents, unless a written notice specifically setting forth the default claimed by Borrower shall have been given to Lender within three (3) months after Borrower first had knowledge of the occurrence of the event which Borrower alleges gave rise to such claimed default and Lender does not remedy or cure the default, if any default actually exists, promptly thereafter. Borrower waives any claim, set-off or defense against Lender arising by reason of any alleged default by Lender as to which Borrower does not give such notice timely as required by this Section 14.21 and, in any event, within six (6) months after the Maturity Date or earlier repayment of the Loan. Borrower acknowledges that such waiver is or may be essential to Lender's ability to enforce its remedies without delay and that such waiver therefore constitutes a substantial part of the bargain between Lender and Borrower with regard to the Loan. No Borrower Party or tenant of the Project is intended to have any rights as a third-party beneficiary of the provisions of this Section 14.21.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Strategic Realty Trust, Inc.), Loan Agreement (Strategic Realty Trust, Inc.)

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Claims Against Lender. Lender shall not be in default under this Agreement, or under any other Loan Documents, unless a written notice specifically setting forth the default claimed by Borrower shall have been given to Lender within three (3) months after Borrower first had knowledge of the occurrence of the event which Borrower alleges gave rise to such claimed default and Lender does not remedy or cure the default, if any default actually exists, promptly thereafter. Borrower waives any claim, set-off or defense against Lender arising by reason of any alleged default by Lender as to which Borrower does not give such notice timely as required by this Section 14.21 and, in any event, within six (6) months after the Maturity Date or earlier repayment of the Loan12.25. Borrower acknowledges that such waiver is or may be essential to Lender's ability to enforce its remedies without delay and that such waiver therefore constitutes a substantial part of the bargain between Lender and Borrower with regard to the Loan. No Borrower Party or tenant of the Project is intended to have any rights as a third-party beneficiary of the provisions of this Section 14.2112.25.

Appears in 2 contracts

Samples: Loan Agreement (Cornerstone Core Properties REIT, Inc.), Loan Agreement (Cornerstone Core Properties REIT, Inc.)

Claims Against Lender. Lender shall not be in default breach under this Agreement, or under any other Loan Documents, unless a written notice specifically setting forth the default claimed by claim of Borrower shall have been given to Lender within three (3) months after Borrower first had knowledge of the occurrence of the event which Borrower alleges gave rise to such claimed default claim and Lender does not remedy or cure the defaultsuch breach, if any default actually existsthere be, promptly thereafter. Borrower waives any claim, set-off or defense against Lender arising by reason of any alleged default breach by Lender as to which Borrower does not give such notice timely as aforesaid. All payments required to be made by this Section 14.21 andBorrower, in any eventGuarantor and Environmental Indemnitors under the Loan Documents shall be made without set-off, within six (6) months after the Maturity Date counterclaim or earlier repayment of the Loandefense. Borrower acknowledges that such waiver is or may be essential to Lender's ’s ability to enforce its remedies without delay and that such waiver therefore constitutes a substantial part of the bargain between Lender and Borrower with regard to the Loan. No Borrower Party Guarantor or tenant of the Project Tenant is intended to have any rights as a third-party beneficiary of the provisions of this Section 14.2110.14.

Appears in 2 contracts

Samples: Loan Agreement (Trade Street Residential, Inc.), Loan Agreement (Trade Street Residential, Inc.)

Claims Against Lender. Lender shall not be in default breach under this Agreement, or under any other Loan Documents, unless a written notice specifically setting forth the default claimed by claim of Borrower shall have been given to Lender within three (3) months after Borrower first had knowledge of the occurrence of the event which Borrower alleges gave rise to such claimed default claim and Lender does not remedy or cure the defaultsuch breach, if any default actually existsthere be, promptly thereafter. Borrower waives any claim, set-off or defense against Lender arising by reason of any alleged default breach by Lender as to which Borrower does not give such notice timely as aforesaid. All payments required to be made by this Section 14.21 andBorrower, in any eventGuarantor and Environmental Indemnitors under the Loan Documents shall be made without set-off, within six (6) months after the Maturity Date counterclaim or earlier repayment of the Loandefense. Borrower acknowledges that such waiver is or may be essential to Lender's ability to enforce its remedies without delay and that such waiver therefore constitutes a substantial part of the bargain between Lender and Borrower with regard to the Loan. No Borrower Party Guarantor or tenant of the Project Tenant is intended to have any rights as a third-party beneficiary of the provisions of this Section 14.2110.14.

Appears in 1 contract

Samples: Loan Agreement (Trade Street Residential, Inc.)

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Claims Against Lender. Lender shall not be in default Default under this Agreement, or under any other Loan Documents, unless a written notice specifically setting forth the default claimed by Borrower claim of Borrowers shall have been given to Lender within three (3) months after any Borrower first had knowledge of the occurrence of the event which such Borrower alleges gave rise to such claimed default claim and Lender does not remedy or cure the defaultDefault, if any default actually existsthere be, promptly thereafter. Borrower waives Borrowers waive any claim, set-off or defense against Lender arising by reason of any alleged default by Lender as to which Borrower does not give such notice timely as aforesaid. All payments required to be made by this Section 14.21 andBorrowers, in any eventGuarantor and Environmental Indemnitors under the Loan Documents shall be made without set-off, within six (6) months after the Maturity Date counterclaim or earlier repayment of the Loandefense. Borrower acknowledges Borrowers acknowledge that such waiver is or may be essential to Lender's ’s ability to enforce its remedies without delay and that such waiver therefore constitutes a substantial part of the bargain between Lender and Borrower Borrowers with regard to the Loan. No Borrower Party Guarantor or tenant of the Project Tenant is intended to have any rights as a third-party beneficiary of the provisions of this Section 14.2111.14.

Appears in 1 contract

Samples: Recognition and Attornment Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

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