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7A Request from Presbyterian Homes for Conduit Financing
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7A Request from Presbyterian Homes for Conduit Financing
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8/25/2008 Council Regular
General - Type
8/25/2008 Council Regular
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Section 7.13 Enti_re Agreeament. This Agreement contains the entire agreement of the <br />parties with respect to ihe subject matter of this Agreement and supersedes any and ali prior <br />letters, proposals, contracts azad understandings between the parties with respeci to the sarne, <br />including, but not limited ta, any proposal or commitment letter, and such letiers, propasals, <br />contracts and understandings are hereby tenminated. <br />Section 7.14 Further Assurances. At any time and fram time to iime, upon request by <br />ihe Lend�r, �lie Borrower wiil make, execute and deliver or cause io be made, executed and <br />delivered, to the Lender, any and all other further instruments, certificates and other dacuments <br />as may, irz the reasanable apinion of the Lender, b� necessary or desirable in arder to effectuate, <br />complete, secure, or perfect, or to continue and preserve, the obligations of the Borrower <br />hereur�der and undez any of the o#her documents related to the Loan. So long as no Event of <br />Defau�t has occur�-ed and is continuing, and so long as the further assurances are not made <br />necessary or de�irable by any action or inaction of the Borrower, the Borrower shail not be <br />responsible for the cost of preparing or recording such fizrther assurances. Upon any #'ailure by <br />the Borrower so io do after ten (10) days written notice from the L�nder, the Lender may anake, <br />execute and �-ecord any and all such instrumenis, certif cates and docurnents for and in the name <br />of the Borrower ana the Borrower h�reby irrevocably appoints ihe Lender its agent and attorney- <br />in-fact af the Borrower so to do. The Borrower hereby understands, acknowledges and agrees <br />that the Lender may prepare and file such UCC financing statements or sirnilar instruments as <br />may be necessaa�y to perfect the Lender's security interest in any real ox personal property <br />pledged by the Borrower as security for the Loan. <br />2208$45v4 2,( <br />
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