Common use of Lender’s Right to Perform Clause in Contracts

Lender’s Right to Perform. If Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of the greater of (a) ten (10) days after Borrower’s receipt of written notice thereof from Lender and (b) any longer notice requirement or grace period (if any) specifically set forth in this Agreement after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its rights, powers or remedies as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause performance of, such covenant or obligation, and all costs, expenses, liabilities, penalties and fines of Lender incurred or paid in connection therewith shall be payable by Borrower to Lender upon demand and if not paid shall be added to the Debt (and to the extent permitted under applicable laws, secured by the Mortgage and other Loan Documents) and shall bear interest thereafter at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to Borrower of any such failure.

Lender’s Right to Perform. If During the continuance of an Event of Default Lender may, but shall have no obligation to do so and without notice to or demand on Borrower fails to perform and without releasing Borrower from any covenant or obligation contained herein and such failure shall continue for a period hereunder or under any of the greater Loan Documents or being deemed to have cured any Default or Event of (a) ten (10) days after Borrower’s receipt of written notice thereof from Lender Default hereunder, and (b) any longer notice requirement or grace period (if any) specifically set forth in this Agreement after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its rights, powers or remedies as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause the performance of, such any covenant or obligationobligation of Borrower hereunder in such manner and to such extent as Lender determines in its sole discretion in each instance, and all costs, expenses, liabilities, penalties and fines of Lender incurred or paid in connection therewith shall be immediately due and payable by Borrower to Lender upon demand and if not paid shall be added to the Debt Obligations (and to the extent permitted under applicable laws, secured by the Mortgage and the other Loan Documents) and in each case shall bear interest thereafter at the Default Rate. Notwithstanding Rate for the foregoing, period after the date incurred by or on behalf of Lender shall have no obligation until the date of payment by Borrower to send notice to Borrower of any such failureLender.

Lender’s Right to Perform. If Borrower fails to perform any covenant or obligation contained herein and such failure shall continue for a period of the greater of (a) ten five (105) days Business Days after Borrower’s receipt of written notice thereof from Lender and (b) any longer notice requirement or grace period (if any) specifically set forth in this Agreement after Borrower’s receipt of written notice thereof from Lender, without in any way limiting Lender’s right to exercise any of its rights, powers or remedies as provided hereunder, or under any of the other Loan Documents, Lender may, but shall have no obligation to, perform, or cause performance of, such covenant or obligation, and all costs, expenses, liabilities, penalties and fines of Lender incurred or paid in connection therewith shall be payable by Borrower to Lender upon demand and if not paid shall be added to the Debt (and to the extent permitted under applicable laws, secured by the Mortgage and other Loan Documents) and shall bear interest thereafter at the Default Rate. Notwithstanding the foregoing, Lender shall have no obligation to send notice to Borrower of any such failure.