Common use of Consequential Loss Clause in Contracts

Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided herein. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 3 contracts

Samples: Construction Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Construction Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Loan Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)

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Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender for any reasonable loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding and any loss of revenue, profit or yield of any Lender)yield, as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided hereinin the Mortgage. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than what is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, notice as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 3 contracts

Samples: Construction Loan Agreement (Skechers Usa Inc), Construction Loan Agreement (Skechers Usa Inc), Construction Loan Agreement (Skechers Usa Inc)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at The Borrowers agree to reimburse the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender Lenders for any loss, cost, expense, penalty, claim or liability, including and against any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties reasonable expense (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer loss or conveyance expense sustained or incurred or to be sustained or incurred in liquidating or employing deposits from third parties acquired to affect or maintain any Loan or part thereof as a Eurodollar Loan) which the Lenders may sustain or incur as a consequence of any rightof the following events (regardless of whether such events occur as a result of the occurrence of an Event of Default or the exercise of any right or remedy of the Agent or the Lenders under this Agreement or any other Loan Document, title or at law): (i) any failure of the Borrowers to fulfill on the date of any Borrowing hereunder the applicable conditions set forth in Article VIII applicable to it; (ii) any failure of the Borrowers to borrow hereunder after irrevocable Notice of Borrowing pursuant to Section 2.4.A has been given; (iii) any payment, prepayment or conversion of a Eurodollar Loan on a date other than the last day of the relevant Interest Period; (iv) any default in payment or prepayment of the principal amount of any Loan or any part thereof or interest accrued thereon, as and when due and payable (at the due date thereof, by notice of prepayment or otherwise); or, (v) the occurrence of an Event of Default (collectively, "CONSEQUENTIAL LOSS"). Such loss or expense shall include, without limitation, an amount equal to the excess, if any, of (i) the amount of interest which would have accrued on the principal amount so paid, prepaid or converted or not borrowed for the period from the date of such payment, prepayment or conversion or failure to borrow to the last day of the Interest Period for such Loan (or, in the Property giving Administrative Agent case of a failure to borrow, the Interest Period for such Loan which would have commenced on behalf the date of Lenders such failure to borrow), at the right to accelerate applicable rate of interest for such Loan provided for herein over (ii) the maturity amount of interest (as determined by such Lender) that would be realized by such Lender in reemploying the Loan as provided hereinfunds so paid, prepaid or converted or not borrowed in U.S. Treasury obligations with comparable maturities for comparable periods. The foregoing notwithstandingAgent shall provide to the Borrowers a statement explaining any loss or expense and setting forth, if applicable, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, as computation pursuant to the amount ofpreceding sentence, reasons for and the calculation of the Consequential Loss, which notice such statement shall be conclusive in the absence of absent manifest error. Neither Administrative Agent nor The Borrowers shall pay the Lenders shall have the amount shown as due on any obligation to purchase, sell and/or match funds in connection with such statement within ten (10) days after the funding or maintaining receipt of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensationsame.

Appears in 1 contract

Samples: Credit Agreement (Innovative Valve Technologies Inc)

Consequential Loss. Within fifteen (15) days after request by any ------------------ Lender (or at the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding and any loss of revenue, profit or yield of any Lender)yield, as determined by such Lender in its judgment reasonably exercised (together, "Consequential Loss") incurred by such ------------------ Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement or the Loan Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided hereinin the Deed of Trust. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Lawlaw. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, notice as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the this Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 1 contract

Samples: Construction Loan Agreement (Wells Real Estate Investment Trust Inc)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower shall pay The Borrowers agree to such Lender such amount or amounts as will compensate such reimburse each Lender for any loss, cost, expense, penalty, claim or liability, including and against any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties reasonable expense (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer loss or conveyance expense sustained or incurred or to be sustained or incurred in liquidating or employing deposits from third parties acquired to affect or maintain any Loan or part thereof as a Eurodollar Loan) which such Lender may sustain or incur as a consequence of any rightof the following events (regardless of whether such events occur as a result of the occurrence of an Event of Default or the exercise of any right or remedy of the Agent or the Lenders under this Second Restated Agreement or any other Loan Document, title or at law): (i) any failure of the Borrowers to fulfill on the date of any Borrowing hereunder the applicable conditions set forth in Article X applicable to it; (ii) any failure of the Borrowers to borrow hereunder after an irrevocable Notice of Revolving Credit Advance or Notice of Steam Supply Advance has been given; (iii) any payment, prepayment or conversion of a Eurodollar Loan on a date other than the last day of the relevant Interest Period; (iv) any default in payment or prepayment of the principal amount of any Loan or any part thereof or interest accrued thereon, as and when due and payable (at the due date thereof, by notice of prepayment or otherwise); or, (v) the occurrence of an Event of Default (collectively, "CONSEQUENTIAL LOSS"). Such loss or expense shall include, without limitation, an amount equal to the excess, if any, of (i) the amount of interest which would have accrued on the principal amount so paid, prepaid or converted or not borrowed for the period from the date of such payment, prepayment or conversion or failure to borrow to the last day of the Interest Period for such Loan (or, in the Property giving Administrative Agent on behalf case of Lenders the right a failure to accelerate the maturity of the Loan as provided herein. The foregoing notwithstandingborrow, the amounts Interest Period for such Loan which would have commenced on the date of such failure to borrow), at the Consequential Loss applicable rate of interest for such Loan provided for herein over (ii) the amount of interest (as determined by such Lender) that would be realized by such Lender in reemploying the funds so paid, prepaid or converted or not borrowed in U.S. Treasury obligations with comparable maturities for comparable periods. Any such Lender shall never be less than zero provide to the Borrowers a statement, signed by an officer of such Lender, explaining any loss or greater than is permitted by applicable Law. If any Consequential Loss will be dueexpense and setting forth, if applicable, the Lender shall deliver to Borrower a notice, in reasonable detail, as computation pursuant to the amount ofpreceding sentence, reasons for and the calculation of the Consequential Loss, which notice such statement shall be conclusive in the absence of absent manifest error. Neither Administrative Agent nor The Borrowers shall pay such Lender the Lenders shall have amount shown as due on any obligation to purchase, sell and/or match funds in connection with such statement within ten (10) days after the funding or maintaining receipt of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensationsame.

Appears in 1 contract

Samples: Credit Agreement (Innovative Valve Technologies Inc)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower Borrowers shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower Borrowers to make payments on the date specified under this Agreement or in any notice from Borrower Borrowers to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any LIBOR Interest Period for any reason; or (dc) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided herein. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, then the Lender shall deliver to Borrower Borrowers a notice, in reasonable detail, as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower Borrowers under this Section 1.7 shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived or deemed waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 1 contract

Samples: Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”"CONSEQUENTIAL LOSS") incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property Collateral Pool giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided hereinherein or in any Mortgage. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)

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Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”"CONSEQUENTIAL LOSS") incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided hereinherein or in any Mortgage. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at The Borrower agrees to reimburse the time of any prepayment), Borrower shall pay to such Lender such amount or amounts as will compensate such Lender Bank for any loss, cost, expense, penalty, claim or liability, including and against any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties reasonable expense (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower to make payments on the date specified under this Agreement or in any notice from Borrower to Administrative Agent; (b) the failure of Borrower to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer loss or conveyance expense sustained or incurred or to be sustained or incurred in liquidating or employing deposits from third parties acquired to affect or maintain any Loan or part thereof as a Eurodollar Loan) which the Bank may sustain or incur as a consequence of any rightof the following events (regardless of whether such events occur as a result of the occurrence of an Event of Default or the exercise of any right or remedy of the Bank under this Agreement or any other Loan Document, title or at law): (i) any failure of the Borrower to fulfill on the date of any Borrowing hereunder the applicable conditions set forth in Article VI applicable to it; (ii) any failure of the Borrower to borrow hereunder after irrevocable Notice of Loan Advance pursuant to Section 2.1 has been given; (iii) any payment, prepayment or conversion of a Eurodollar Loan on a date other than the last day of the relevant Interest Period; (iv) any Default in payment or prepayment of the principal amount of any Loan or any part thereof or interest accrued thereon, as and when due and payable (at the due date thereof, by notice of prepayment or otherwise); or, (v) the occurrence of an Event of Default (collectively, "CONSEQUENTIAL LOSS"). Such loss or expense shall include, without limitation, an amount equal to the excess, if any, of (i) the amount of interest which would have accrued on the principal amount so paid, prepaid or converted or not borrowed for the period from the date of such payment, prepayment or conversion or failure to borrow to the last day of the Interest Period for such Loan (or, in the Property giving Administrative Agent case of a failure to borrow, the Interest Period for such Loan which would have commenced on behalf the date of Lenders such failure to borrow), at the right applicable rate of interest for such Loan provided for herein over (ii) the amount of interest (as determined by the Bank) that would be realized by the Bank in reemploying the funds so paid, prepaid or converted or not borrowed in U.S. Treasury obligations with comparable maturities for comparable periods. The Bank shall provide to accelerate the maturity Borrower a statement, signed by an officer of the Loan as provided herein. The foregoing notwithstandingBank, explaining any loss or expense and setting forth, if applicable, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower a notice, in reasonable detail, as computation pursuant to the amount ofpreceding sentence, reasons for and the calculation of the Consequential Loss, which notice such statement shall be conclusive in the absence of absent manifest error. Neither Administrative Agent nor The Borrower will pay the Lenders shall have Bank the amount shown as due on any obligation to purchase, sell and/or match funds in connection with such statement within ten (10) days after the funding or maintaining receipt of the Loan or any portion thereof. The obligations of Borrower under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensationsame.

Appears in 1 contract

Samples: Credit Agreement (Innovative Valve Technologies Inc)

Consequential Loss. Within fifteen (15) days after request by any Lender (or at the time of any prepayment), Borrower Borrowers shall pay to such Lender such amount or amounts as will compensate such Lender for any loss, cost, expense, penalty, claim or liability, including any loss incurred in obtaining, prepaying, liquidating or employing deposits or other funds from third parties (but excluding any loss of revenue, profit or yield of any Lender), as determined by such Lender in its judgment reasonably exercised (together, “Consequential Loss”) incurred by such Lender with respect to any LIBOR Rate, including any LIBOR Rate Election or LIBOR Rate Principal as a result of: (a) the failure of Borrower Borrowers to make payments on the date specified under this Agreement or in any notice from Borrower Borrowers to Administrative Agent; (b) the failure of Borrower Borrowers to borrow, continue or convert into LIBOR Rate Principal on the date or in the amount specified in a notice given by Borrower the Operating Partnership to Administrative Agent pursuant to this Agreement; (c) the early termination of any Interest Period for any reason; or (d) the payment or prepayment of any amount on a date other than the date such amount is required or permitted to be paid or prepaid, whether voluntarily or by reason of acceleration, including, but not limited to, acceleration upon any transfer or conveyance of any right, title or interest in the Property Collateral giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loan as provided hereinherein or in any Loan Document. The foregoing notwithstanding, the amounts of the Consequential Loss shall never be less than zero or greater than is permitted by applicable Law. If any Consequential Loss will be due, the Lender shall deliver to Borrower the Operating Partnership a notice, in reasonable detail, as to the amount of, reasons for and the calculation of the Consequential Loss, which notice shall be conclusive in the absence of manifest error. Neither Administrative Agent nor the Lenders shall have any obligation to purchase, sell and/or match funds in connection with the funding or maintaining of the Loan or any portion thereof. The obligations of Borrower Borrowers under this Section shall survive any termination of the Loan Documents and payment of the Loan and shall not be waived by any delay by Administrative Agent or Lenders in seeking such compensation.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Opportunity REIT I, Inc.)

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