Consent to Foreclosure. In the event of foreclosure of the Security Documents (by any means, including judicial foreclosure), [Landlord/Operator] shall recognize Agent, for and on behalf of the Lenders, as the [Lessee/Client] for all purposes under the [Lease/Hosting Agreement]. In such event, [Landlord/Operator] shall accept performance by Agent in lieu of [Lessee/Client] in the [Lease/Hosting Agreement]. Additionally, notwithstanding anything to the contrary or apparently to the contrary contained in the [Lease/Hosting Agreement], [Lessee/Client] hereby consents to foreclosure by Agent, for and on behalf of the Lenders, in the event of default under the terms of the Security Documents, the Credit Agreement, or any other documents executed in connection therewith (the "LOAN DOCUMENTS") and consents to the assignment of the [Lease/Hosting Agreement] by Agent, subject to the [Landlord's Operator's] consent which shall not be unreasonably withheld, if the Agent, either by virtue of the enforcement of the Agent's rights under the Security Documents, the Loan Documents, or otherwise, or in any capacity whatsoever, becomes the owner of [Lessee's/Client's] interest under the [Lease/Hosting Agreement]. The [Landlord/Operator] agrees to execute a memorandum or short form of the [Lease/Hosting Agreement] in recordable form and in such form as is reasonably required by the Agent and containing terms consistent with the terms of the [Lease/Hosting Agreement] and this Consent and Waiver.
Consent to Foreclosure. Borrower knowingly and voluntarily acknowledges that Lender has the right to file a foreclosure action (the “Foreclosure Action”) on the Property upon the occurrence of an Event of Default in accordance with the Loan Documents. Borrower knowingly and voluntarily covenants and agrees now and forever that, neither Borrower nor any of its Affiliates, including, without limitation, Guarantor, other than as specifically permitted in Section 7(i) below, shall assert any defenses or contest, oppose or otherwise attempt to delay, hinder, prevent or avoid Lender’s prosecution of the Foreclosure Action or challenge the validity thereof or take any appeal thereof, and hereby knowingly and voluntarily agrees, after the issuance of a judgment of foreclosure (the “Foreclosure Order”) in the Foreclosure Action, to diligently and in good faith cooperate with Lender to effect any: (i) foreclosure by court action or otherwise, or any other proceedings instituted by Lender in connection with realizing upon the security granted pursuant to the Loan Documents or (ii) action to quiet title which may be instituted by Lender to perfect its right, title, and interest in the Property. Subject to the terms hereof, including, but not limited to, Section 7(i) below, Borrower shall, when requested by Lender, knowingly and voluntarily expressly consent to such foreclosure in the manner reasonably requested by Lender within two (2) Business Days of Lender’s request. Subject to the terms hereof, including, but not limited to, Section 7(i) below, Borrower and Guarantor knowingly and voluntarily waive, now and forever, the right to require a hearing in connection with any such foreclosure proceeding, for appointment of a receiver for the Property or other suit or proceedings and further knowingly and voluntarily waive the right, now and forever, to require sale of the Property in any such suit to be made in parcels. Borrower and Guarantor may be named as defendants in any such foreclosure proceeding. (i) Upon the issuance of the Foreclosure Order, Borrower will execute and deliver any and all documents reasonably requested by Lender to (i) effectuate the enforcement of the Foreclosure Order and foreclosure sale, including, but not limited to, powers of attorney in favor of Lender, and (ii) permit the issuance of an owner’s title insurance policy reflecting fee simple title to the Property vested in Transferee without exception for any interest in the Property in favor of Borrower or any of ...
Consent to Foreclosure. Each of the BOAI Parties hereby agree that upon the breach of any warranty, representation or covenant made by a BOAI Party in this Agreement, Lender, at its sole option, may commence a foreclosure proceeding with respect to the Collateral (including, without limitation, shares of Common Stock of BOAI pledged to Lender), pursuant to applicable law at such time, and none of the BOAI Parties shall assert in any such foreclosure proceeding any claim against Lender or defense which exists as of the date hereof, which claims or defenses are hereby waived.
Consent to Foreclosure
