Common use of No Conditions Precedent to Exercise of Remedies Clause in Contracts

No Conditions Precedent to Exercise of Remedies. Borrower shall not be relieved of any obligation it has under this Agreement or under the Leasehold Mortgages or the Security Agreement by reason of (a) the cancellation of the Head Lease or the Sub-sublease, regardless of consideration, with respect to any of the Leased Property or the addition of any property to the Leased Property; (b) any agreement or stipulation between any assignee of all or any portion of Lender's rights under this Agreement, the Leasehold Mortgages or the Security Agreement extending, renewing, rearranging or in any other way modifying the terms of this Agreement, of the Head Lease, the Sub-sublease, the Leasehold Mortgages or Security Agreement, without first having obtained the consent of, given notice to or paid any consideration to Lender, and in such event Borrower shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Lender; or (c) any other acts or occurrences, save and except the complete satisfaction of all of the obligations of Borrower hereunder and under the Note.

Appears in 1 contract

Sources: Term Loan Agreement (Seneca Erie Gaming Corp)

No Conditions Precedent to Exercise of Remedies. Borrower shall The Mortgagor will not be relieved from the payment of any obligation it has the amounts due under this Agreement or under fulfillment of the Leasehold Mortgages or conditions of the Security Agreement by reason of of: (a) the cancellation failure of the Head Lease Mortgagee to comply with any request of the Mortgagor, or any other Person so obligated to enforce any provisions of the Sub-subleaseAgreement; (b) the release, regardless of consideration, with respect to any of the Leased Mortgaged Property or the addition of any other property to the Leased Mortgaged Property; ; (bc) any agreement or stipulation between any assignee subsequent owner of all or any portion of Lender's rights under this Agreement, the Leasehold Mortgages or Mortgaged Property and the Security Agreement Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Agreement, of the Head Lease, the Sub-sublease, the Leasehold Mortgages or Security Agreement, Agreement without first having obtained the consent of, given notice to to, or paid any consideration to Lenderthe Mortgagor, and who, in such event Borrower event, shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Lenderthe Mortgagee; or or (cd) any other acts act or occurrencesoccurrence, save and except the complete satisfaction payment and satisfactory fulfillment of all of the obligations of Borrower hereunder and amounts due under the NoteAgreement.

Appears in 1 contract

Sources: Leasehold Mortgage, Security Agreement, Assignment of Rents and Financing Statement (Dynagen Inc)