Recourse Liability. Sections 9(c)(i) and (c)(ii) of the Note will be operative only after Equity Investor has been given 30 days’ notice of the Event of Default described in the Note, together with an opportunity within such 30-day period to remedy the applicable Event of Default. In all events, Lender may, during such 30-day period, exercise all of its rights and remedies under this Loan Agreement upon the occurrence of such Event of Default, other than foreclosure of the Mortgaged Property.
Appears in 3 contracts
Sources: Multifamily Loan and Security Agreement, Rider to Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement