Common use of LEGAL EFFECT OF SECTION Clause in Contracts

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII is intended as Lender's written request for information (and Borrower's response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "environmental provision" for purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that Borrower's duty to indemnify Lender hereunder shall survive: (i) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Deed of Trust; and (iii) the satisfaction of all of Borrower's obligations under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII 7 is intended as Lender's ’s written request for information (and Borrower's ’s response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section §726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "“environmental provision" ” for purposes of California Code of Civil Procedure Section §736, and as such it is expressly understood that Borrower's ’s duty to indemnify Lender hereunder shall survive: (i) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Deed of Trust; and (iii) the satisfaction of all of Borrower's ’s obligations under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII is intended as Lender's written request for information (and Borrower's response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.5ss.726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "environmental provision" for purposes of California Code of Civil Procedure Section 736ss.736, and as such it is expressly understood that Borrower's duty to indemnify Lender hereunder shall survive: (i) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Deed of Trust; and (iii) the satisfaction of all of Borrower's obligations under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII is intended as Lender's ’s written request for information (and Borrower's ’s response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.56726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "“environmental provision" ” for purposes of California Code of Civil Procedure Section 7366736, and as such it is expressly understood that Borrower's ’s duty to indemnify Lender hereunder shall survive: (i) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Deed of Trust; and (iii) the satisfaction of all of Borrower's ’s obligations under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII 5 is intended as Lender's ’s written request for information (and Borrower's ’s response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section §726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "“environmental provision" ” for purposes of California Code of Civil Procedure Section §736, and as such it is expressly understood that Borrower's ’s duty to indemnify Lender hereunder shall survive: (i) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; (ii) the release and reconveyance or cancellation of the Deed of Trust; and (iii) the satisfaction of all of Borrower's ’s obligations under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower and Lender agree that: (a) this Article VII 7 is intended as Lender's written request for information (and Borrower's response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.5; and (b) each provision in this Article (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 Lender and Borrower to be an "environmental provision" for purposes of California Code of Civil Procedure Section 736, and as such it is expressly understood that Borrower's duty to indemnify Lender hereunder shall survive: (ia) any judicial or non-judicial foreclosure under the Deed of Trust, or transfer of the Property in lieu thereof; , (iib) the release and reconveyance or cancellation of the Deed of Trust; and (iiic) the satisfaction of all of Borrower's obligations obligation under the Loan Documents.

LEGAL EFFECT OF SECTION. Borrower Borrowers and Lender agree that: (a) this Article VII 6 is intended as Lender's written request for information (and Borrower's Borrowers' response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section §726.5; and (b) each provision in this Article (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 Lender and Borrower Borrowers to be an "“environmental provision" ” for purposes of California Code of Civil Procedure Section §736, and as such it is expressly understood that Borrower's Borrowers' duty to indemnify Lender hereunder shall survive: (ia) any judicial or non-judicial foreclosure under the any Deed of Trust, or transfer of the Property in lieu thereof; , (iib) the release and reconveyance or cancellation of the any Deed of Trust; and (iiic) the satisfaction of all of Borrower's obligations Borrowers' obligation under the Loan Documents.