Mezzanine Lender Self-Help Rights Sample Clauses

Mezzanine Lender Self-Help Rights. (a) Mezzanine Lender shall have the right, but not the obligation, take any appropriate action as it, in its reasonable judgment, may deem necessary to (i) cure any Event of Default, (ii) cause any term, covenant, condition or obligation required under this Pledge Agreement or other Mezzanine Loan Document to be promptly performed or observed on behalf of Mezzanine Borrower, or (iii) protect the Pledged Collateral and any other security obtained pursuant to the other Mezzanine Loan Documents. All reasonable amounts advanced by, or on behalf of, Mezzanine Lender in exercising its rights under this Article VII (including, without limitation, reasonable legal expenses and disbursements incurred in connection therewith), together with interest thereon at the Default Rate from the date of any such advance, shall be payable by Mezzanine Borrower, to Mezzanine Lender upon demand therefor and shall be secured by the Pledged Collateral. (b) Mezzanine Lender shall not be obligated to perform or discharge any obligation of Mezzanine Borrower or any Pledged Entity as a result of this Pledge Agreement. The acceptance by Mezzanine Lender of this Pledge Agreement shall not at any time or in any event obligate Mezzanine Lender to (i) appear in or defend any action or proceeding relating to the Pledged Collateral to which it is not a party, or (ii) take any action hereunder or thereunder, or expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Pledged Collateral.