Loan Default. In the event of default on the Loan, SBA and Lender's obligation to Third Party Indemnitor shall not extend beyond complying with applicable law regardless of conflicting provisions, if any, in the Purchase and Sale Documents such as those requiring notice of Loan default, notice of Mortgage foreclosure, or forbearance prior to initiating liquidation activities on the Loan.
Appears in 5 contracts
Sources: Environmental Indemnification Agreement, Environmental Indemnification Agreement, Environmental Indemnification Agreement
Loan Default. In the event of default on the Loan, SBA and Lender▇▇▇▇▇▇'s obligation to Third Party Indemnitor shall not extend beyond complying with applicable law regardless of conflicting provisions, if any, in the Purchase and Sale Documents such as those requiring notice of Loan default, notice of Mortgage foreclosure, or forbearance prior to initiating liquidation activities on the Loan.
Appears in 2 contracts
Sources: Environmental Indemnification Agreement, Sba Environmental Indemnification Agreement