Common use of Actions and Events Outside of Lenders’ and Agents’ Control Clause in Contracts

Actions and Events Outside of Lenders’ and Agents’ Control. None of the Lenders, Servicing Agents or the Administrative Agent shall be liable in any way to any Relevant Party or third party for any such Lender’s, Servicing Agent’s or the Administrative Agent’s failure to perform or delay in performing under the Loan Documents (and the Administrative Agent or any Lender or Servicing Agent may suspend or terminate all or any portion of the Administrative Agent’s or such Lender’s or Servicing Agent’s obligations under the Loan Documents during any such period) if such failure to perform or delay in performance results directly or indirectly from any act of God, strike, lockout, boycott, blockade, riot, act of war, terrorism, rebellion, insurrection, epidemic, pandemic, quarantine, national emergency, fire, communication line failure, computer virus, computer hardware or software failure, malware or ransomware attack, power failure, earthquake, unavailability of the Federal Reserve Bank wire or telex system, unavailability of any securities clearing system, or any other similar cause or event beyond the reasonable control of Administrative Agent, such Lender or such Servicing Agent. No “Default” or “Event of Default” shall be deemed to have occurred hereunder as a result of the failure of a Loan Party to make payment for an obligation that such Lender, Servicing Agent or the Administrative Agent is required to satisfy through an application of funds on deposit in an Account in accordance with Section 2.07 or Article VI and such Lender, Servicing Agent or the Administrative Agent fails to so pay as the result of any event described in the foregoing sentence, and the performance by any Loan Party of its obligations under this Agreement shall be extended day-for-day by each day that such Loan Party is unable to so perform hereunder directly as the result of such Lender, Servicing Agent or the Administrative Agent failing to perform hereunder as the result of any event described in the foregoing sentence.

Appears in 2 contracts

Sources: Loan Agreement (Bluerock Homes Trust, Inc.), Loan Agreement (Bluerock Residential Growth REIT, Inc.)

Actions and Events Outside of Lenders’ and Agents’ Control. None of the Lenders, Servicing Agents or the Administrative Agent shall be liable in any way to any Relevant Party or third party for any such Lender’s, Servicing Agent’s or the Administrative Agent’s failure to perform or delay in performing under the Loan Documents (and the Administrative Agent or any Lender or Servicing Agent may suspend or terminate all or any portion of the Administrative Agent’s or such Lender’s or Servicing Agent’s obligations under the Loan Documents during any such period) if such failure to perform or delay in performance results directly or indirectly from any act of God, strike, lockout, boycott, blockade, riot, act of war, terrorism, rebellion, insurrection, epidemic, pandemic, quarantine, national emergency, fire, communication line failure, computer virus, computer hardware or software failure, malware or ransomware attack, power failure, earthquake, unavailability of the Federal Reserve Bank wire or telex system, unavailability of any securities clearing system, or any other similar cause or event beyond the reasonable control of Administrative Agent, such Lender or such Servicing Agent. No “Default” or “Event of Default” shall be deemed to have occurred hereunder as a result of the failure of a Loan Party to make payment for an obligation that such Lender, Servicing Agent or the Administrative Agent is required to satisfy through an application of funds on deposit in an Account in accordance with Section 2.07 or Article VI and such Lender, Servicing Agent or the Administrative Agent fails to so pay as the result of any event described in the foregoing sentence, and the performance by any Loan Party of its obligations under this Agreement shall be extended day-for-day by each day that such Loan Party is unable to so perform hereunder directly as the result of such Lender▇▇▇▇▇▇, Servicing Agent or the Administrative Agent failing to perform hereunder as the result of any event described in the foregoing sentence.

Appears in 1 contract

Sources: Loan Agreement (Bluerock Homes Trust, Inc.)