Performance of the Agreements. Promptly following a request from the Secured Party to do so, and at the Borrower’s own expense, the Borrower agrees (a) to take all such lawful action as the Secured Party may request to compel or secure the performance and observance by any Person of its obligations to the Borrower under or in connection with (i) agreements or instruments pursuant to which Investments are issued in accordance with the terms thereof (provided that such action is not inconsistent with or in violation of any of the Borrower’s obligations under such agreements or instruments), and (ii) any Operative Document in accordance with the terms thereof (provided that such action is not inconsistent with or in violation of any of the Borrower’s obligations under such Operative Documents), and (b) to exercise any and all rights, remedies, powers and privileges lawfully available to the Borrower, as owner of the Investments, under or in connection with such agreements or instruments, or under or in connection with any Operative Document, in each case to the extent and in the manner directed by the Secured Party, including the transmission of notices of default and the institution of legal or administrative actions or proceedings to compel or secure performance by any such Person of its obligations thereunder. The Borrower further agrees that it will not (1) exercise any right, remedy, power or privilege available to it under or in connection with the agreements or instruments pursuant to which the Investments are issued or under or in connection with any Operative Document, (2) take any action to compel or secure performance or observance by any Person of its obligations to the Borrower as holder of the Investments under or in connection with such agreements or instruments or under or in connection with any Operative Document or (3) give any consent, request, notice, direction, approval, extension or waiver to any Person under the agreements or instruments pursuant to which the Investments are issued or under any Operative Document, not required to be exercised, taken, observed or given by the Borrower pursuant to the terms thereof; unless, in each case, it has obtained the prior written consent of the Secured Party and such action is not inconsistent with or in violation of any of the Borrower’s obligations under such agreements, instruments or Operative Documents, as the case may be.
Performance of the Agreements. (a) The Borrower/Recipient shall be fully responsible to the Fund for the due and timely performance of all obligations ascribed to it, the Lead Project Agency and all other Project Parties under any Agreement. To the extent any Project Party enjoys legal personality separate from the Borrower/Recipient, any reference to an obligation of such Project Party in an Agreement shall be deemed an obligation of the Borrower/Recipient to ensure that such Project Party performs such obligation. The acceptance by any Project Party of any obligation ascribed to it in an Agreement shall not affect the responsibilities and obligations of the Borrower/Recipient.
