Common use of Enforcement Actions After Forbearance Period Clause in Contracts

Enforcement Actions After Forbearance Period. Each Borrower Party acknowledges and agrees that the provisions of this Agreement shall be effective solely for the purposes set forth herein, shall be limited precisely as written and shall not be deemed to waive any Default or Event of Default (including the Maturity Event) or otherwise prejudice any right or remedy which Lender may now have or has in the future under or in connection with any Loan Document. Each Borrower Party further acknowledges and agrees that, upon the occurrence of the Forbearance Termination Time, the agreement of Lender to forbear from taking any Enforcement Action in respect of the Maturity Event shall cease and be of no further force or effect, and Lender shall be entitled to immediately take such Enforcement Actions under the Loan Agreement, the other Loan Documents or applicable law in respect of the Maturity Event or any other Event of Default then existing as such Lender may determine in its sole and absolute discretion, all without further notice or demand.