Examples of Project Lender in a sentence
No consent from, or notice to, Project Lender or any cure right in favor of Project Lender shall be required in connection with the exercise of such right.
In the event of a casualty to the buildings or improvements constructed on any portion of the Project or a condemnation or taking under a power of eminent domain of all or any portion of the Project, Lender shall have a first and prior interest in and to any payments, awards, proceeds, distributions, or consideration arising from any such event (the “Award”).
Seller shall have the right to assign this Agreement as security to any Project Lender, and Department agrees to provide a consent not to be unreasonably withheld to any such Project Lender in the form of consent provided in Appendix G; provided, however, that no such assignment shall be effective for purposes of this Section 12.10(b) until Seller shall have provided written notice to Department of such assignment, which notice shall include the name and address of such Project Lender.
If Lender shall elect to pay any sum due with reference to the Project, Lender may do so in reliance on any xxxx, statement or assessment procured from the appropriate governmental authority or other issuer thereof without inquiring into the accuracy or validity thereof.
So long as an assignment pursuant to this Section 12.10(b) remains in effect, Department shall, upon serving notice to Seller pursuant to Section 12.17, also serve a copy of such notice upon the specified Project Lender at the address provided by Seller in its notice of assignment to such Project Lender.