Common use of Default under this Agreement Clause in Contracts

Default under this Agreement. Borrower shall be in default under this Agreement if (A) it fails to make any Additional Deposit or other payment required hereunder when due, or (B) it fails to comply with any provision of this Agreement and such failure is not cured within ten (10) calendar days after notice from Lender. Borrower understands that a default under this Agreement shall be deemed to be a default under the terms of the Reimbursement Agreement, the Modification Agreement and the other Loan Documents, and that in addition to the remedies specified in this Agreement, Lender shall be able to exercise all of its rights and remedies under the Reimbursement Agreement, the Modification Agreement, and the other Loan Documents upon a default. If a default occurs under the Reimbursement Agreement, the Modification Agreement, or any of the other Loan Documents, such event shall be deemed a default hereunder and Lender may at its option hold and apply the funds in the Replacement Reserve as provided in Section 5(b) hereof.

Default under this Agreement. Borrower shall be in default under this Agreement if (Ai) it fails to make any the Additional Deposit or other payment required hereunder when due, due or (Bii) it fails to comply with any provision of this Agreement and such failure is not cured within ten (10) calendar days after notice from Lender. Borrower understands that a default under this Agreement shall be deemed to be a default under the terms of the Reimbursement Agreement, the Modification Agreement and the other Loan Documents, and that in addition to the remedies specified in this Agreement, Lender shall be able to exercise all of its rights and remedies under the Reimbursement Agreement, the Modification Agreement, and the other Loan Documents upon a default. If a default occurs under the Reimbursement Agreement, the Modification Agreement, or any of the other Loan Documents, such event shall be deemed a default hereunder and Lender may at its option hold and apply the funds in the Replacement Debt Service Reserve as provided in Section 5(b) hereof4.2 of this Agreement.

Default under this Agreement. Borrower shall be in default under this Agreement if (Ai) it fails to make any Additional Deposit or other payment required hereunder when due, due or (Bii) it fails to comply with any provision of this Agreement and such failure is not cured within ten (10) calendar days after notice from Lender. Borrower understands that a default under this Agreement shall be deemed to be a default under the terms of the Reimbursement Agreement, the Modification Agreement and the other Loan Documents, and that in addition to the remedies specified in this Agreement, Lender shall be able to exercise all of its rights and remedies under the Reimbursement Agreement, the Modification Agreement, and the other Loan Documents upon a default. If a default occurs under the Reimbursement Agreement, the Modification Agreement, or any of the other Loan Documents, such event shall be deemed a default hereunder and Lender may at its option hold and apply the funds in the Replacement Debt Service Reserve as provided in Section 5(b) hereof4.2 of this Agreement.