LAWS SET FORTH IN SECTION 4.1.1;
(XII)
IF THERE SHALL BE DEFAULT UNDER ANY OF THE
LOAN DOCUMENTS BEYOND ANY APPLICABLE CURE PERIODS CONTAINED IN SUCH LOAN
DOCUMENTS, WHETHER AS TO BORROWER OR THE PROPERTY;
(XIII)
INTENTIONALLY OMITTED.
(XIV)
IF BORROWER OR ANY AFFILIATE SHALL CONTINUE TO BE
IN DEFAULT UNDER ANY OF THE OTHER TERMS, COVENANTS OR CONDITIONS OF THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT NOT
71
SPECIFIED IN SUBSECTIONS (I) TO (XII) ABOVE, FOR TEN (10) DAYS AFTER NOTICE TO
BORROWER FROM LENDER, IN THE CASE OF ANY DEFAULT WHICH CAN BE CURED BY THE
PAYMENT OF A SUM OF MONEY, OR FOR THIRTY (30) DAYS AFTER NOTICE FROM LENDER IN
THE CASE OF ANY OTHER DEFAULT; PROVIDED, HOWEVER, THAT IF SUCH NON-MONETARY
DEFAULT IS SUSCEPTIBLE OF CURE BUT CANNOT REASONABLY BE CURED WITHIN SUCH 30-DAY
PERIOD AND PROVIDED FURTHER THAT BORROWER SHALL HAVE COMMENCED TO CURE SUCH
DEFAULT WITHIN SUCH 30-DAY PERIOD AND THEREAFTER DILIGENTLY AND EXPEDITIOUSLY
PROCEEDS TO CURE THE SAME, SUCH 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 NINETY (90) DAYS PLUS TIME
PERMITTED FOR EXCUSABLE DELAYS; OR
(XV)
IF ANY OTHER SUCH EVENT SHALL OCCUR OR CONDITION
SHALL EXIST, IF THE EFFECT OF SUCH EVENT OR CONDITION UNDER ANY LOAN DOCUMENT 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.
(B)
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT
(OTHER THAN AN EVENT OF DEFAULT DESCRIBED IN CLAUSE (VI), (VII) OR (VIII) ABOVE)
AND AT ANY TIME THEREAFTER DURING THE CONTINUANCE OF AN EVENT OF DEFAULT LENDER
MAY, 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, TAKE SUCH
ACTION, WITHOUT NOTICE OR DEMAND, THAT LENDER DEEMS ADVISABLE TO PROTECT AND
ENFORCE ITS RIGHTS AGAINST BORROWER AND IN AND TO THE PROPERTY, 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 THE PROPERTY, INCLUDING, WITHOUT
LIMITATION, ALL RIGHTS OR REMEDIES AVAILABLE AT LAW OR IN EQUITY; AND UPON ANY
EVENT OF DEFAULT DESCRIBED IN CLAUSE (VI), (VII) OR (VIII) ABOVE, 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 10.2
REMEDIES.
(A)
UPON THE OCCURRENCE AND DURING THE
EXISTENCE OF AN EVENT OF DEFAULT, ALL OR ANY ONE OR MORE OF THE RIGHTS, POWERS,
PRIVILEGES AND OTHER REMEDIES AVAILABLE TO LENDER AGAINST BORROWER UNDER THIS
AGREEMENT OR