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05-22-2017 Packet
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05-22-2017 Packet
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(iii) Right to Bring Suit, Etc. The Issuer, with or without entry, personally or <br /> by attorney, may in its discretion, proceed to protect and enforce its rights by a suit or <br /> suits in equity or at law, whether for recovery of amounts due, for damages or for the <br /> specific performance of any covenant or agreement contained in this Financing <br /> Agreement or in aid of the execution of any power herein granted, or for the enforcement <br /> of any other appropriate legal or equitable remedy, as the Issuer shall deem most <br /> effectual to protect and enforce any of its rights or duties hereunder against Developer; <br /> provided, however that all costs incurred by the Issuer under this Article V including its <br /> attorneys' fees and costs of collection, shall be paid on demand to the Issuer by the <br /> Developer. The Developer acknowledges and agrees that the breach of some of their <br /> obligations cannot be cured by the payment of money and that equitable relief is an <br /> appropriate remedy. <br /> Section 5.2. Remedies Cumulative. No remedy herein conferred upon or reserved to <br /> the Trustee is intended to be exclusive of any other remedy or remedies, and each and every such <br /> remedy shall be cumulative, and shall be in addition to every other remedy given hereunder or <br /> now or hereafter existing at law or in equity or by statute. <br /> Section 5.3. Delay or Omission Not a Waiver. No delay or omission of the Trustee to <br /> exercise any right or power accruing upon any event of default shall impair any such right or <br /> power, or shall be construed to be a waiver of any such event of default or an acquiescence <br /> therein; and every power and remedy given by this Financing Agreement to the Trustee may be <br /> exercised from time to time and as often as may be deemed expedient by the Trustee. <br /> Section 5.4. Reserved. <br /> Section 5.5. Remedies Subject to Provisions of Law. All rights, remedies and powers <br /> provided by this Article may be exercised only to the extent that the exercise thereof does not <br /> violate any applicable provision of law in the premises, and all the provisions of this Article are <br /> intended to be subject to all applicable mandatory provisions of law which may be controlling in <br /> the premises and to be limited to the extent necessary so that they will not render this Loan <br /> Agreement invalid or unenforceable under the provisions of any applicable law. <br /> Section 5.6. Waiver of Events of Default. If after any event of default shall have <br /> occurred under this Financing Agreement and prior to the Trustee exercising any of the remedies <br /> provided in this Article, the Developer shall have completely cured such default, such default <br /> may be waived at the discretion of the Issuer and, if so waived, shall be rescinded and annulled <br /> by the Trustee by written notice given to the Developer. <br /> (End of Article V) <br /> - 15 - <br /> 1\1 1853148.2 <br />
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