Common use of Remedies of Borrower Clause in Contracts

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the Notes, any Mortgage or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 6 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Remedies of Borrower. In the event that a claim or adjudication is made that Lender or any of its agents, has agents have acted unreasonably or unreasonably delayed acting in any case where by applicable law or under this Agreement, the NotesPledge Agreement, any Mortgage or the Note and the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, to the extent permitted by applicable law, Borrower agrees that neither Lender nor and its agents, agents shall not be liable for any monetary damages, and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment. Lender agree that, in such event, it shall cooperate in expediting any action seeking injunctive relief or declaratory judgment.

Appears in 4 contracts

Samples: Mezzanine B Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine a Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine B Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has including Servicer, have acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the Notes, any Mortgage Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, including Servicer, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 4 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed delayed, or conditioned acting in any case where by applicable law or under this Agreement, the NotesSecurity Instrument, any Mortgage or the Note and the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, agents shall be liable for any monetary damages, and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment. Lender agrees that, in such event, it shall cooperate in expediting any action seeking injunctive relief or declaratory judgment.

Appears in 4 contracts

Samples: Loan Agreement (Independence Realty Trust, Inc), Loan Agreement (Independence Realty Trust, Inc), Loan Agreement (Independence Realty Trust, Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed acting in any case where by applicable law or under this Agreement, the NotesSecurity Instrument, any Mortgage or the Note and the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, each of Additional Obligor and Borrower agrees that neither Lender nor its agents, agents shall be liable for any monetary damages, and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment. Lender agrees that, in such event, it shall cooperate in expediting any action seeking injunctive relief or declaratory judgment.

Appears in 3 contracts

Samples: Loan Agreement (DDR Corp), Loan Agreement (Retail Value Inc.), Loan Agreement (Retail Value Inc.)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed acting in response to a request for approval to any matter requiring Lender’s consent hereunder in any case where by law or under this Agreement, the Notes, any Mortgage Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, agents shall be liable for any monetary damages, and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 3 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage the Mortgages or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 2 contracts

Samples: Loan Agreement (Alternative Living Services Inc), Loan Agreement (Alternative Living Services Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 2 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the Notes, any Mortgage Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower and Grantor each agrees that neither Lender nor its agents, agents shall be liable for any monetary damages, and each Borrower's and/or Grantor's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 2 contracts

Samples: Loan Agreement (Inland Western Retail Real Estate Trust Inc), Loan Agreement (Inland Western Retail Real Estate Trust Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any the Mortgage or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 2 contracts

Samples: Loan Agreement (Hallwood Realty Partners L P), Loan Agreement (Mark Centers Trust)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, any of the Lender Parties has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage the Indenture or the other Loan Documents, Lender or such agentLender Party, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, such Lender Party shall be liable for any monetary damages, and each Borrower's sole remedies remedy shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender or a Lender Party has acted reasonably shall be determined by an action seeking only a declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Hob Entertainment Inc /De/)

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Remedies of Borrower. In the event that a claim or adjudication is made that the Lender or its agents, agents has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage the Mortgages or the other Loan Documents, the Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees the Borrowers agree that neither the Lender nor its agents, agents shall be liable for any monetary damages, and each Borrower's Borrowers' sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether the Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Fortress Investment Corp)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the Notes, any Mortgage Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, agents shall be liable for any monetary damages (including, without limitation, any special, indirect, consequential or punitive damages), and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Global Net Lease, Inc.)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage the Deeds of Trust or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Burnham Pacific Properties Inc)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has agents have acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the Notes, any Mortgage Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, agents shall be liable for any monetary damagesdamages (other than those arising from Lender’s gross negligence or willful misconduct), and each Borrower's ’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Sun Communities Inc)

Remedies of Borrower. In the event that a claim or -------------------- adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any Mortgage the Mortgages or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

Remedies of Borrower. In the event that a claim or adjudication is made that Lender or its agents, has acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement, the NotesNote, any the Mortgage or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or promptly, Borrower agrees that neither Lender nor its agents, shall be liable for any monetary 77 82 damages, and each Borrower's sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment.

Appears in 1 contract

Samples: Loan Agreement (Burnham Pacific Properties Inc)

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