COMMENCED TO CURE SUCH DEFAULT WITHIN SUCH THIRTY (30) DAY
PERIOD AND THEREAFTER DILIGENTLY AND EXPEDITIOUSLY PROCEEDS TO CURE THE SAME,
SUCH THIRTY (30) DAY PERIOD SHALL BE EXTENDED FOR SUCH TIME AS IS REASONABLY
NECESSARY FOR BORROWER IN THE EXERCISE OF DUE DILIGENCE TO CURE SUCH DEFAULT,
SUCH ADDITIONAL PERIOD NOT TO EXCEED ONE HUNDRED EIGHTY (180) DAYS;
(XXXII)
IF THERE SHALL BE A DEFAULT UNDER THE PLEDGE AGREEMENT OR ANY OF
THE OTHER LOAN DOCUMENTS BEYOND ANY APPLICABLE NOTICE AND CURE PERIODS CONTAINED
IN SUCH DOCUMENTS, WHETHER AS TO BORROWER, THE COLLATERAL, ANY MORTGAGE
PRINCIPAL'S GENERAL PARTNER INTEREST IN THE RELATED MORTGAGE BORROWER ENTITY OR
ANY INDIVIDUAL PROPERTY (PROVIDED, HOWEVER, THAT IF NO NOTICE OR CURE PERIOD IS
SPECIFIED, THEN THE PROVISIONS OF SECTION 8.1(A)(XXII) HEREOF SHALL APPLY TO
SUCH DEFAULT), OR IF ANY OTHER SUCH EVENT SHALL OCCUR OR CONDITION SHALL EXIST,
IF THE EFFECT OF SUCH EVENT OR CONDITION IS TO ACCELERATE THE MATURITY OF ANY
PORTION OF THE DEBT OR TO PERMIT LENDER TO ACCELERATE THE MATURITY OF ALL OR ANY
PORTION OF THE DEBT; OR
(XXXIII)
A MORTGAGE LOAN EVENT OF DEFAULT SHALL OCCUR, AND SHALL NOT HAVE
BEEN WAIVED OR SETTLED BY MORTGAGE LENDER OR CURED BY MORTGAGE BORROWER, OR IF
MORTGAGE BORROWER ENTERS INTO OR OTHERWISE SUFFERS OR PERMITS ANY MATERIAL
AMENDMENT, WAIVER, SUPPLEMENT, TERMINATION, EXTENSION, RENEWAL, REPLACEMENT OR
OTHER MODIFICATION OF ANY MORTGAGE LOAN DOCUMENT WITHOUT THE PRIOR WRITTEN
CONSENT OF LENDER, TO THE EXTENT THAT SUCH CONSENT IS REQUIRED TO BE OBTAINED
HEREUNDER.
(B)
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT (OTHER THAN AN EVENT OF
DEFAULT DESCRIBED IN CLAUSE (VI) OR (VII) OF SECTION 8.1(A) HEREOF) AND AT ANY
TIME THEREAFTER, IN ADDITION TO ANY OTHER RIGHTS OR REMEDIES AVAILABLE TO IT
PURSUANT TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS OR AT LAW OR IN EQUITY,
LENDER MAY TAKE SUCH ACTION, WITHOUT NOTICE OR DEMAND (EXCEPT FOR SUCH NOTICE OR
DEMAND AS MAY BE EXPRESSLY REQUIRED UNDER THE NOTE, THIS AGREEMENT, THE PLEDGE
AGREEMENT OR THE OTHER LOAN DOCUMENTS), THAT LENDER DEEMS ADVISABLE TO PROTECT
AND ENFORCE ITS RIGHTS AGAINST BORROWER AND IN AND TO THE COLLATERAL, INCLUDING,
WITHOUT LIMITATION, DECLARING THE DEBT TO BE IMMEDIATELY DUE AND PAYABLE, AND
LENDER MAY ENFORCE OR AVAIL ITSELF OF ANY OR ALL RIGHTS OR REMEDIES PROVIDED IN
THE LOAN DOCUMENTS AGAINST BORROWER AND/OR THE COLLATERAL AND MAY EXERCISE ALL
THE RIGHTS AND REMEDIES OF A SECURED PARTY UNDER THE UNIFORM COMMERCIAL CODE
AGAINST BORROWER AND THE COLLATERAL, INCLUDING, WITHOUT
118
LIMITATION, ALL RIGHTS OR REMEDIES AVAILABLE AT LAW OR IN EQUITY; AND UPON ANY
EVENT OF DEFAULT DESCRIBED IN CLAUSE (VI) OR (VII) OF SECTION 8.1(A) HEREOF, THE
DEBT AND ALL OTHER OBLIGATIONS OF BORROWER HEREUNDER AND UNDER THE OTHER LOAN
DOCUMENTS SHALL IMMEDIATELY AND AUTOMATICALLY BECOME DUE AND PAYABLE, WITHOUT
NOTICE OR DEMAND, AND BORROWER HEREBY EXPRESSLY WAIVES ANY SUCH NOTICE OR
DEMAND, ANYTHING CONTAINED HEREIN OR IN ANY OTHER LOAN DOCUMENT TO THE CONTRARY
NOTWITHSTANDING.
Section