Common use of Legal Effect of Agreement Clause in Contracts

Legal Effect of Agreement. Indemnitor and Indemnitee agree that: (i) this Agreement is intended as Indemnitee’s written request for information (and Indemnitor’s response) concerning the environmental condition of the real Property security as required by California Code of Civil Procedure Section 726.5; and (ii) each provision in this Agreement (together with any indemnity applicable to a breach of any such provision) with respect to the environmental condition of the real Property security is intended by Indemnitee and Indemnitor to be an “environmental provision” for purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that Indemnitor’s duty to indemnify Indemnitee hereunder shall survive: (i) any judicial or non judicial foreclosure under the Security Instrument, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Security Instrument; and (iii) the satisfaction of all of Indemnitor’s obligations under the Note, the Security Instrument, the Loan Agreement and the other Loan Documents.

Legal Effect of Agreement. Indemnitor and Indemnitee Indemnitees agree that: (i) this Agreement is intended as Indemnitee’s Indemnitees’ written request for information (and Indemnitor’s response) concerning the environmental condition of the real Property security as required by California Code of Civil Procedure Section 726.5; and (ii) each provision in this Agreement (together with any indemnity applicable to a breach of any such provision) with respect to the environmental condition of the real Property security is intended by Indemnitee Indemnitees and Indemnitor to be an “environmental provision” for purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that Indemnitor’s duty to indemnify Indemnitee Indemnitees hereunder shall survive: (i) any judicial or non judicial foreclosure under the Security Instrument, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Security Instrument; and (iii) the satisfaction of all of Indemnitor’s obligations under the NoteNotes, the Security Instrument, the Loan Credit Agreement and the other Loan Documents.

Legal Effect of Agreement. The Indemnitor and the Indemnitee agree that: (ia) this Agreement is intended as the Indemnitee’s 's written request for information (and the Indemnitor’s 's response) concerning the environmental condition of the real Property security as required by California Code of Civil Procedure Section 726.5; and (iib) each provision in this Agreement (together with any indemnity applicable to a breach of any such provision) with respect to the environmental condition of the real Property security is intended by the Indemnitee and the Indemnitor to be an “"environmental provision” " for purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that the Indemnitor’s 's duty to indemnify the Indemnitee hereunder shall survive: (i) any judicial or non judicial foreclosure under the Security InstrumentMortgage, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Security InstrumentMortgage; and (iii) the satisfaction of all of the Indemnitor’s 's obligations under the Note, the Security InstrumentMortgage, the Loan Agreement and the other Loan Other Security Documents.