Cross-Collateralization/Cross-Default. No Purchased Loan is cross-collateralized or cross-defaulted with any loan other than one or more other Purchased Loans.
Cross-Collateralization/Cross-Default. This Loan and all other obligations owed to Lender by the Borrower (or any of their principals or affiliates) or Guarantor(s) (hereinafter defined) or any one of them, are cross-collateralized, and, also, secured by any mortgage, security agreement, pledge, assignment, or other agreement issued from time to time for the benefit of the Lender by the Borrower (or any of their principals or affiliates), or the Guarantor(s) or any one of them, and all such loans shall be cross-defaulted.
Cross-Collateralization/Cross-Default. Borrower agrees that any and all collateral securing the Loans or securing the Additional Loan Agreement under the Additional Loan Documents shall be collateral for and shall secure all indebtedness of Borrower to the Bank under this Loan Agreement and the Notes, whether or not such indebtedness is related by class or kind to the Loans. Any uncured default by Borrower under the terms of any other indebtedness to the Bank (including under any Letter of Credit and/or the application therefor) shall also constitute an Event of Default under this Loan Agreement and any Event of Default under this Loan Agreement shall be a default under any and all other indebtedness of Borrower to the Bank. Bank acknowledges that the Guaranty of Guarantor, the Mortgage from Guarantor and the security under the Security Agreement from Borrower do not guaranty or secure any amounts due Bank from the Additional Borrowers under the Additional Loan Agreement and Additional Loan Documents.
Cross-Collateralization/Cross-Default. All collateral which Lender may at any time acquire from Borrower and/or any Guarantor from any source in connection with any indebtedness owing to Lender by Borrower and/or any Guarantor, or any present or future obligation of Borrower and/or any Guarantor to Lender, shall constitute security for each and every obligation without apportionment or designation as to particular obligations, and all obligations, however and whenever occurred, shall be secured by such collateral howsoever and whensoever acquired, and it is the express intent of the parties to this Loan Agreement that all past, present or future advances or loans made by Lender to Borrower and/or any Guarantor shall be so cross- collateralized and Lender shall have no obligation to list any of such collateral described in or referred to in this Loan Agreement upon any of the documents executed in conjunction with the indebtedness of Borrower and/or any Guarantor upon any future notes or extensions of credit, it being the intention of the parties to this Loan Agreement that all such transactions shall be collateralized by the collateral and the documents executed in conjunction herewith. Lender shall have the right, in its sole discretion, to determine the order in which Xxxxxx's rights or remedies against any of the collateral are to be exercised and which type or portions of collateral are to be proceeded against and the order of application of the proceeds of any such collateral as against particular obligations. As such, any default by Borrower and/or any Guarantor under the Loan Documents or this Loan Agreement shall be a default under any other loan documents evidencing indebtedness owing by Borrower and/or any Guarantor to Lender, and any default under any other loan documents evidencing indebtedness owing by Borrower and/or any Guarantor to Lender or this Loan Agreement shall be a default under the Loan Documents. Nothing in this Section 8.12 shall modify the rights and obligations of Lender or Borrower with respect to the Main Street Lending Program or the Reserve Bank.
Cross-Collateralization/Cross-Default. The Purchased Loan is not cross-collateralized or cross-defaulted with any other loan other than another Purchased Loan, is a whole loan and contains no equity participation by the lender.
Cross-Collateralization/Cross-Default. Section 8.1 Cross-Collateralization. The Loan and Fawn Lake Loan (collectively, the “Loans”) shall be cross-collateralized as of the effective date of this Agreement and accordingly, Borrowers hereby grant and mortgage the Fawn Lake Property, the Fawn Lake Golf Course Property and the Additional Property (all as defined in the Seventh Mortgage Loan Modification) to Lender under the terms of the Deed of Trust, Additional Deed of Trust and Additional Mortgage (as defined in the Seventh Mortgage Loan Modification) and all other collateral securing the Loans shall secure all of the Loans and all obligations under the Loan Documents and the documents evidencing and securing the Loan.
Cross-Collateralization/Cross-Default. The Loans are cross-collateralized and cross-defaulted.
Cross-Collateralization/Cross-Default. Obligations outstanding under the Receivables Loan or the Inventory Loan or made in respect of Receivables Collateral or Inventory Collateral pledged by Borrower pursuant to the Receivables Loan or the Inventory Loan (inclusive of obligations which have been paid in full but pursuant to which Lender maintains existing Receivables Collateral or Inventory Collateral) and all Loan Documents and Inventory Loan Documents, are and shall be cross-collateralized and cross-defaulted with each other. Borrower agrees to deliver financing statements and other documents, instruments and agreements as may be required by the Lender to further evidence and perfect the Liens and cross collateralization in favor of Lender. A default under the Nevada Resorts Loan will result in an Event of Default under the Receivables Loan and Inventory Loan; however, a default under the Receivables Loan or Inventory Loan will not result in a default under the Nevada Resorts Loan.
Cross-Collateralization/Cross-Default. Each Borrower acknowledges that the Loan shall be secured by each Borrower’s interest in its Project. Any Event of Default under this Agreement shall be an Event of Default under all Loan Documents.
Cross-Collateralization/Cross-Default. The indebtedness hereunder is cross-collateralized with and cross-defaulted to any and all indebtedness of either Borrower now or at any time hereafter owed to HoMedics such that (A) any and all security given by either Borrower to secure their indebtedness owed to HoMedics shall also stand as collateral security for the indebtedness and all obligations of either Borrower hereunder to HoMedics; (B) all collateral hereunder shall stand as collateral security for all indebtedness and obligations of the Borrowers now or at any time hereafter owed to HoMedics; (C) any Default and/or Event of Default hereunder shall constitute a matured Event of Default under all documentation evidencing, securing and governing the indebtedness of the Borrowers; and (D) any Default or Event of Default under the documentation evidencing, governing and securing the indebtedness of the Borrowers shall constitute an Event of Default under this Amended Agreement.
