Common use of Power to remedy Clause in Contracts

Power to remedy. 3.4.1 If the Applicant fails to perform any obligations under the Loan Documents affecting the Property, it must allow the LTA TF or the LTA TF's agents and contractors: (a) to enter any part of the Property; (b) to comply with or object to any notice served on the Applicant in respect of the Property; and (c) to take any action that the LTA TF may reasonably consider necessary or desirable to prevent or remedy any breach of any such term or to comply with or object to any such notice. 3.4.2 The Applicant must immediately on request by the LTA TF pay their costs and expenses or the LTA TF's agents and contractors incurred in connection with any action taken by the LTA TF under paragraph 3.4.1. 3.4.3 The LTA TF shall not be obliged to account as mortgagee in possession as a result of any action taken under paragraph 3.4.1.]