Lender Rights. Each Lender shall have the absolute right to exercise or to refrain from exercising any right such Lender has under this Agreement and the Collateral Documents, including the right to consent to an amendment, waiver or modification of any of such documents, and such Lender shall not incur any liability to any other Lender with respect to exercising or refraining from exercising any such right.
Lender Rights. Prior to the occurrence of an Event of Default or Act of Insolvency, each Lender agrees that it shall be bound by the instructions or directions of the Client and that it shall have no right of dissent or any similar rights. A Lender may, subject to the terms of the Securities Lending Agreement, deliver to the Administrator a Notice of Default (with a copy to Client) stating that an Event of Default has occurred under the Securities Lending Agreement wherein the Client remains solvent (i.e. the Event of Default is not due to an Act of Insolvency with respect to the Client) substantially in the form attached hereto as Exhibit B (a “Notice of Default”). Such Lender hereby covenants, for the benefit of the Client, that the Lender will not deliver a Notice of Default until all of the Lender’s rights of enforcement pursuant to the Securities Lending Agreement have fully accrued following an event of Default (as defined in the Securities Lending Agreement) by the Client and the expiration of any applicable notice requirement or grace period. The Administrator shall have no duty to determine whether the Lender has complied with the immediately preceding sentence nor shall such covenant by the Lender constitute a limitation on the Administrator’s right to act upon a Notice of Default without inquiry. The Administrator agrees to promptly notify the Client of its receipt of such Notice of Default and shall not act in accordance with Instructions from the Lender for the withdrawal, payment, transfer or other disposition with respect to that portion of the Collateral allocated to it until the passage of five (5) Business Days after Administrator’s receipt of such Notice of Default. Upon the passage of such five (5) Business Day period, unless Xxxxxx sends a written notice to Administrator revoking such Notice of Default substantially in the form attached hereto as Exhibit C (a “Notice of Revocation”), Administrator is authorized to act upon such Notice of Default, and shall, without inquiry and in reliance upon such Notice of Default, direct BMO to deliver to it that portion of the Collateral allocable to such Lender pursuant to the information contained in the Lender Data File. No such five (5) Business Day delay shall be imposed in a situation involving an Act of Insolvency with respect to the Client, as described in paragraph (b) of this Section. Delivery of such Notice of Default shall constitute a representation and warranty by the Lender that the Administrator’s...
Lender Rights. In the event (i) a threatened or actual discharge or release of Hazardous Materials could affect the Property, whether or not the same originates or emanates from the Property or any contiguous real estate, or (ii) any non-compliance with any Environmental Law could affect the Property, activities at the Property or adjacent real properties, Lender may either (x) provide Indemnitor thirty (30) days notice and opportunity to remedy such discharge or threat of discharge or release or non-compliance with any Environmental Law, or (y) cause such work to be performed at the Property and take any and all other actions as Lender shall deem necessary or advisable to address the threatened or actual discharge or release of Hazardous Material or remedy the non-compliance with Environmental Laws. Indemnitor shall reimburse Lender for all costs and expenses whatsoever incurred on account Xxxxxx’s action under this section, together with interest as hereinafter provided. Except as specifically set forth in this Agreement, Indemnitor shall release and forever discharge and covenants not to sue Lender from and against any and all liability associated with such action, response or remedy under this Agreement. Indemnitor shall grant Lender and its designees access to the Property at any time or times, upon reasonable notice (which may be written or oral), and a license which is coupled with an interest and irrevocable, to make or cause such action as Lender determines is necessary to remedy any actual or threatened non-compliance with any Environmental Law. Lender may disclose to interested parties any information Lender has about the environmental condition or status of the Property, but shall be under no duty to disclose any such information except as may be required by law. Lender shall be under no duty to make any environmental assessment, audit or inspection of the Property, and in no event shall any action or lack of action by Lender be or give rise to a representation that the Property is in compliance with any applicable law, nor shall Indemnitor be entitled to rely on any environmental assessment, audit or inspection completed by Lender. Lender owes no duty of care to protect Borrow or any person against, or to inform them of, the presence of any Hazardous Material, environmental condition, or compliance status at the Property. Nothing in this Agreement shall limit or impair any rights or remedies of Lender or any other party against Indemnitor under any Environme...
Lender Rights. The School Board acknowledges that the cost of the construction of the Schools is being partially financed by one or more lenders of the Contractor and that the lender will have a security interest in the Contractor’s rights in and to the DBFM Agreement and in this Agreement. The Province shall ensure that the lenders will not take security in the lands comprising the School Sites or in the Schools. Under the Direct Lender Agreement, upon the occurrence of specified events, the Lender (being the lender or lenders (or any trustee or other representative of such lenders) party to the Direct Lender Agreement) has, depending on the circumstances, the right, but not the obligation, to:
Lender Rights. (a) Lender shall have the right, but not the obligation, without in any way limiting Lender’s other rights and remedies under the Loan Documents, with the prior written consent of Indemnitor, to enter onto the Property, take and remove soil or groundwater samples, conduct tests and/or site assessments on any part of the Property or to take such other actions as it deems necessary or advisable to clean up, remove, resolve, or minimize the impact of, or otherwise deal with, any Hazardous Substances on or affecting the Property following receipt of any written notice from any person or entity asserting the existence or possible existence of any Hazardous Substances pertaining to the Property or any part thereof that, if true, could result in an Environmental Claim, order, notice, suit, imposition of a lien on the Property, or other action and/or that, in Lender’s reasonable opinion, could jeopardize Lender’s security under the Loan Documents. All reasonable third party out of pocket costs and expenses paid or incurred by Lender in the exercise of any such rights shall be payable by Indemnitor upon demand.
Lender Rights. 30 10.1 Subordination.................................................. 30 10.2 Attornment..................................................... 31 10.3 REAs........................................................... 31
Lender Rights. The terms of Tenant’s Leasehold Mortgage will govern and control with respect to Xxxxxx’s rights and the terms of Landlord’s Fee Mortgage will govern and control with respect to Xxxxxxxx’s rights under this Article 12, notwithstanding anything herein to the contrary.
Lender Rights. In addition to any other right provided to any Lender by other provisions of this Service Agreement, any Lender shall have the right at any time during the term of this Service Agreement to: (i) do or cause to be done any act or thing required of the Company under this Service Agreement or any other agreement between the Company and the Board, and any such act or thing performed or caused to be performed by such Lender shall have the effect of having been done by the Company itself; (ii) realize on the security afforded such Lender by taking possession of all or any portion of the Facility and/or exercising foreclosure proceedings or power of sale or other remedy afforded in law or in equity or by security documents assigned to or entered into by the Lender; and (iii) subject to the restrictions noted in paragraph (b) of this Section, transfer, convey, or assign the interests of the Company under this Service Agreement, and any other agreement between the Board and the Company regarding the Facility (together, the "the Board/Company Service Agreements") to any purchaser at any foreclosure or secured party sale, whether such sale be conducted pursuant to court order, a power of sale contained in the Lender mortgage or applicable law, and to acquire and succeed to the interest of the Company under the Board/ Company Service Agreements by virtue of any foreclosure or secured party sale, whether such sale be conducted pursuant to a court order, a power of sale contained in the Lender mortgage, or applicable law, or by virtue of a deed and/or xxxx of sale and assignment in lieu thereof. The Board shall grant any Lender or its authorized designee immediate access to the Landfill and the Facility to the extent necessary to remedy any breach or default of the Company under this Service Agreement or in exercise of the Lender's remedies under any security document. If Lender(s) are prohibited by any bankruptcy, insolvency, or other judicial proceeding from commencing foreclosure proceedings or other actions to preserve their secured interest(s) in the Facility and the Board/Company Service Agreements, any right of the Board to terminate the Service Agreement for default shall be suspended for so long as the Lender(s) diligently pursues such proceedings and cures any default.
Lender Rights. Without limiting the provisions of this Second Amendment, Owner acknowledges and agrees that, consistent with its acknowledgment in Section 3.1 of the Direct Agreement regarding the pledge of Concessionaire’s Interest pursuant to the terms and provisions of the Security Documents, this Second Amendment shall be pledged to the Collateral Agent pursuant to, and shall constitute “Collateral” under, and be subject to the terms of, the existing Security Documents.
Lender Rights. Notwithstanding any other provision contained in ------------- this Agreement to the contrary (but subject to clause (c) below):
