EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of Article 15.1 to the contrary, Borrower and Indemnitor shall be personally liable to Lender on a joint and several basis for the Losses Lender incurs due to: (a) fraud or intentional misrepresentation by Borrower or any other person or entity in connection with the execution and the delivery of the Note, this Security Instrument or the Other Security Documents; (b)
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of this Article to the contrary, Borrower shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional, material misrepresentation by Borrower, SCOLP, or any of their agents, principals, officers or employees, (ii) Borrower’s misapplication or misappropriation of insurance proceeds, condemnation awards, or tenant security deposits, if, and to the extent Borrower or its agents have the right and ability to control the disbursement of such proceeds, awards or deposit; (iii) Rents received by Borrower after the occurrence of an Event of Default, provided that such Rents (y) are not applied towards either the Monthly Payment or the ordinary and necessary operating expenses of the Property and Borrower has provided Lender with evidence of same in a form acceptable to Lender, or (z) are paid to Lender, (iv) so long as Borrower has possession and control of the Property, Bxxxxxxx’s failure to pay (except to the extent that sums sufficient to pay such amounts have been deposited in escrow with Lender pursuant to the terms of this Security Instrument) Taxes or other liens with priority over Lxxxxx’s lien on the Property or other liens established under the Loan Documents, to the extent funds are available from the operation of the Property for such purpose, or from escrow deposits made to Lender for such purpose (regardless of whether Lender uses such funds to pay such Taxes or other liens), (v) damage to the Property arising from (y) the intentional misconduct or gross negligence of Borrower, SCOLP, or any of their principals, officers, agents or employees, or (z) any removal of the Property in violation of the Loan Documents, or (vi) Borrower’s or any other Indemnitor’s failure to comply with the provisions of the Environmental Indemnity.
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of this Article to the contrary, Borrower (but not its members, partners or shareholders except to the extent any such member, partner or shareholder is liable for Losses due to its own fraud or intentional misrepresentation) shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower or any agent acting on behalf of Borrower in connection with the execution and the delivery of the Note, this Security Instrument or the Other Security Documents; (ii) Borrower's misapplication or misappropriation of Rents received by Borrower after the occurrence of an Event of Default; (iii) Borrower's misappropriation of tenant security deposits or Rents collected in advance; (iv) the misapplication or the misappropriation of insurance proceeds or condemnation awards; (v) Borrower's failure to pay Taxes, Other Charges, but only to the extent such Other Charges may be superior to the lien of this Security Instrument (except to the extent that sums sufficient to pay such amounts have been deposited in escrow with Lender pursuant to the terms of this Security Instrument); (vi) intentionally omitted; (vii) any act of arson by Borrower, any principal, affiliate, member or general partner thereof; (viii) any fees or commissions paid by Borrower to any principal, affiliate, member or general partner of Borrower in violation of the terms of the Note, this Security Instrument or the Other Security Documents; or (ix) Borrower's failure to comply with the provisions of Sections 4.2, 12.1 and 12.2 of this Security Instrument.
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of Article 15.1 to the contrary, Grantor and Indemnitor shall be personally liable to Beneficiary on a joint and several basis for the Losses Beneficiary incurs due to: (a) fraud or intentional misrepresentation by Grantor or any other person or entity in connection with the execution and the delivery of the Guaranty, this Security Instrument or the Other Security Documents; (b) Grantor's misapplication or misappropriation of Rents received by Grantor after the occurrence and during the continuance of an Event of Default; (c) Grantor's misapplication or misappropriation of tenant security deposits or Rents collected in advance; (d) the misapplication or misappropriation of insurance proceeds or condemnation awards after the occurrence and during the continuance of an Event of Default; (e) any fees or commissions paid by Grantor after the occurrence and during the continuance of an Event of Default to any principal, affiliate or general partner of Grantor, Indemnitor or Guarantor in violation of the terms of the Guaranty, this Security Instrument or the Other Security Documents; (f) gross negligence or criminal acts perpetrated by it resulting in forfeiture, seizure or loss of any portion of the security; (g) any failure by Grantor or Indemnitor to comply with the terms and provisions of Section 13.4 hereof or of the Environmental Indemnity; (h) any failure by Grantor or any general partner or the SPE Member of Grantor to comply with the terms and provisions of Section 4.3 hereof; or (i) any sale, conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment or transfer of the Property or any part thereof, within the meaning of Article 8 hereof, without the prior written consent of Beneficiary.
EXCEPTIONS TO EXCULPATION. 52 Section 15.4 Recourse . . . . . . . . . . . . . . . . . . . . . . . 53 Section 15.5
EXCEPTIONS TO EXCULPATION. 49 Section 15.4 Recourse....................................................................49
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of Section 7.28 of this Mortgage to the contrary, Mortgagor and each Guarantor shall be personally liable to Mortgagee on a joint and several basis for the claims, suits, liabilities (including, without limitation, strict liabilities), actions, proceedings, obligations, debts, damages, losses, costs, expenses, diminutions in value, fines, penalties, charges, fees, expenses, judgments, awards, amounts paid in settlement, or punitive damages, of whatever kind or nature (including, but not limited to reasonable attorneys' fees and other costs of defense) Mortgagee incurs due to: (a) fraud or intentional misrepresentation by Mortgagor or any person or entity acting on behalf of Mortgagor in connection with the execution and the delivery of this Mortgage and the other Loan Documents to which Mortgagor is a party; (b)misapplication or misappropriation of rents, tenant security deposits, or other revenues received by Mortgagor from the operation of the Property; (c) misapplication or misappropriation by Mortgagor of tenant security deposits or rents collected by Mortgagor in advance; (d) the misapplication or misappropriation of insurance proceeds or condemnation awards by Mortgagor; (e) any distributions, fees or commissions paid by Mortgagor after the occurrence and during the continuance of an Event of Default to any principal, Affiliate, partner or shareholder of Mortgagor in violation of the terms of this Mortgage or Loan Documents to which Mortgagor is a party (f) the waste, misapplication or misappropriation any of the Collateral, including the Property; (g) criminal acts or gross negligence perpetrated by Mortgagor in respect of the Property; (h) any failure by Mortgagor under the Environmental Indemnity Agreement executed by Mortgagor in favor of Mortgagee to comply with the terms and provisions thereof; (i) Mortgagor selling the Property, or incurring debt or encumbrances against the Property without Mortgagee's prior written consent; (j) the costs of the enforcement of Mortgagee's rights and remedies hereunder or under the other Loan Documents; (i) Mortgagor or the Collateral Property and/or any Improvements, or any part thereof becoming an asset in (A) a voluntary bankruptcy or insolvency proceeding, or (B) an involuntary bankruptcy or insolvency proceeding commenced by any person or entity other than Mortgagee which is not dismissed within ninety (90) days of filing; (k) Mortgagor interfering with , hindering, preventin...
EXCEPTIONS TO EXCULPATION. 78 9.4.4 Bankruptcy Claims.......................................79 Section 9.5
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of ------------------------- this Section 9.4 to the contrary, Borrower and each Individual Borrower shall be ----------- personally and jointly and severally liable to Lender for the losses
EXCEPTIONS TO EXCULPATION. Notwithstanding the provisions of this Article to the contrary, Borrower shall be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower, its agents or principals in connection with the execution and the delivery of the Note, this Security Instrument or the other Loan Documents; (ii) Borrower's misapplication or misappropriation of (A) Rents received by Borrower after the occurrence of an Event of Default, (B) tenant security deposits or Rents collected in advance, or (C) insurance proceeds or condemnation awards; (iii) Borrower's failure to comply with the provisions of Section 5.9 of this Security Instrument.
