Common use of This Agreement Not to Supersede Loan Documents Clause in Contracts

This Agreement Not to Supersede Loan Documents. This Agreement does not amend or modify in any way any of the Loan Documents. The Loan Documents shall continue to govern the Loan until such time as Lender and Borrower agree (if at all) to enter into other agreements governing the Loan. This Agreement does not waive, alter or modify Lender’s rights under any Loan Document or otherwise waive or excuse any Default or Events of Default under any Loan Document. Borrower acknowledges and agrees that, notwithstanding the agreement of Lender to forbear from taking any Enforcement Action during the Forbearance Period in respect of the Maturity Event, such forbearance shall not constitute a waiver of the occurrence or the continuance of any Default or Event of Default, and any such Default or Event of Default which has occurred shall continue to exist after the Effective Date unless and until cured by Borrower or waived by Lender. This Agreement does not modify, alter or amend any Loan or any relationship between or among Borrower and Lender.

Appears in 4 contracts

Samples: Forbearance Agreement (Summit Hotel Properties, LLC), Forbearance Agreement (Summit Hotel Properties, LLC), Forbearance Agreement (Summit Hotel Properties, LLC)

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