Common use of Payments after Default Clause in Contracts

Payments after Default. While an Event of Default exists, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Law, overdue interest and other amounts due in respect of the Loan, shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default until the actual receipt and collection of the Debt (or that portion thereof that is then due). To the extent permitted by Applicable Law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security Instrument. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note to accelerate and to continue to demand payment of the Debt upon the happening of any Event of Default, despite any such payment.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, (a) shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by LenderLender shall be entitled to receive and Borrower shall pay to Lender all cash flow from the Property in accordance with the terms of Article 10 hereof, including any Gross Income from Operations or Net Cash Flow, may, such amount to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of Confidential Treatment Requested by BANA XXXX-Xxxx-00091 (i) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (ii) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgage. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance of any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (ai) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawapplicable law, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated and (ii) Lender shall be entitled to receive and Borrower shall deliver and pay to Lender all revenue from the date such payment was due without regard Property that Borrower is entitled to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, receive pursuant to the maximum extent permitted by lawterms of Article X of this Agreement, Article X of the Mezzanine 1 Loan Agreement, and Section 9.10 and Article X of the Xxxxx Fargo Mortgage Loan Agreement, such amount to be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, including alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (x) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (y) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentPledge Agreement. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default, nor as a waiver of the obligation of Borrower to pay the Debt as and when due hereunder; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance of any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, (a) shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by LenderLender shall be entitled to receive and Borrower shall pay to Lender all cash flow from the Individual Properties, including any Gross Income from Operations or Net Cash Flow, may, such amount to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (i) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (ii) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgage. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (ai) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated and (ii) Lender shall be entitled to receive and Maker shall pay to Lender all cash flow from the date Property in accordance with the terms of the Cash Management Agreement, such payment was due without regard amount to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (x) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (y) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgages. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Maker shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Maker to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (ai) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated and (ii) Lender shall be entitled to receive and Borrower shall pay to Lender all cash flow from the date Properties in accordance with the terms of the Cash Management Agreement, such payment was due without regard amount to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (x) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (y) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgages. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein herein, if any. Any and (b) any amounts all payments and other sums received by Lender, including any Gross Income from Operations or Net Cash Flow, may, Lender hereunder during the continuance of an Event of Default may be applied to the maximum extent permitted by law, be applied by Lender to the payment of the Debt Indebtedness in such order and priority as Lender shall determine in its sole discretion, including, including without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the actual receipt and collection of the Debt Indebtedness (or that portion thereof that is then due). To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the DebtIndebtedness, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security Instrument. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the DebtIndebtedness, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; . Notwithstanding anything contained herein to the acceptance of any payment of the Debt shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note to accelerate and to continue to demand payment of the Debt contrary, upon the happening occurrence and during the continuance of any Event of Default, despite any such paymentpayment of principal from whatever source may be applied by Lender among the Components in Lender’s sole discretion.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, mayLoan and, to the maximum extent permitted by law, be applied by Lender overdue interest and other amounts due in respect of the Loan shall accrue at a rate per annum equal to the payment lesser of (a) the Debt in maximum rate permitted by applicable law, or (b) four percent (4%) above the Note Rate (such order as Lender shall determine in its sole discretionrate, including, without limitation, alternating applications thereof between interest and principalthe "Default Rate"). Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (i) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (ii) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgage. This paragraph Article shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under this Note, the Note Loan Agreement and the other Loan Documents to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, (a) shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by LenderLender shall be entitled to receive and Borrower shall pay to Lender all cash flow from the Property, including any Gross Income from Operations or Net Cash Flow, may, such amount to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence date such payment was due or other obligation was to be performed without regard to any grace or cure periods until the earlier of the default until (i) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (ii) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security Instrument. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (ai) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated and (ii) Lender shall be entitled to receive and Borrower shall pay to Lender all cash flow from the date Property in accordance with the terms of the Cash Management Agreement, such payment was due without regard amount to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (x) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (y) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentPledge Agreement. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawlaw, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at a rate per annum equal to the Default Ratelesser of (a) the maximum rate permitted by applicable law, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by Lenderfour percent (4%) above the Note Rate (such rate, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal"DEFAULT RATE"). Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (i) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (ii) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentMortgages. This paragraph Article shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under this Note, the Note Loan Agreement and the other Loan Documents to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance any Event of Default, despite any such paymentpayment by Borrower to Lender.

Payments after Default. While Upon the occurrence and during the continuance of an Event of Default existsDefault, (a) interest on the outstanding principal balance of the Loan and, to the extent permitted by Applicable Lawapplicable law, overdue interest and other amounts due in respect of the Loan, Loan shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein and (b) any amounts received by Lender, including any Gross Income from Operations or Net Cash Flow, may, to the maximum extent permitted by law, be applied by Lender to the payment of the Debt in such order as Lender shall determine in its sole discretion, including, without limitation, alternating applications thereof between interest and principal. Interest at the Default Rate shall be computed from the occurrence of the default Event of Default until the earlier of (x) the actual receipt and collection of the Debt (or that portion thereof that is then due)) and (y) the cure of such Event of Default. To the extent permitted by Applicable Lawapplicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security InstrumentPledge Agreement. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default, nor as a waiver of the obligation of Borrower to pay the Debt as and when due hereunder; the acceptance of any payment of the Debt from Borrower shall not be deemed to cure or constitute a waiver of any Event of Default; and Lender retains its rights under the Note this Agreement to accelerate and to continue to demand payment of the Debt upon the happening of and during the continuance of any Event of Default, despite any such paymentpayment by Borrower to Lender.