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200600022
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Last modified
3/4/2012 10:53:32 AM
Creation date
1/3/2006 3:50:50 PM
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DEEDS
Inst Number
200600022
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200600022 <br />Section 8.7 RIGHT TO RELEASE ANY PORTION OF THE PROPERTY. Administrative <br />Agent may release any portion of the Property for such consideration as Administrative Agent <br />may require without, as to the remainder of the Property, in any way impairing or affecting the <br />lien or priority of this Security instrument, or improving the position of any subordinate <br />lienholder with respect thereto, except to the extent that the obligations hereunder shall have <br />been reduced by the actual monetary consideration, if any, received by Administrative Agent for <br />such release, and may accept by assignment, pledge or otherwise any other property in place <br />thereof as Administrative Agent may require without being accountable for so doing to any other <br />lienholder. This Security Instrument shall continue as a lien and security interest in the <br />remaining portion of the Property. <br />Section 8.8 RIGHT OF ENTRY. Upon reasonable notice to Borrower, Administrative <br />Agent and its agents shall have the right to enter and inspect the Property at all reasonable times. <br />Section 8.9 BANKRUPTCY. <br />(a) Upon or at any time after the occurrence of an Event of Default, Administrative <br />Agent shall have the right to proceed in its own name or in the name of Borrower in respect of <br />any claim, suit, action or proceeding relating to the rejection of any Lease, including, without <br />limitation, the right to file and prosecute, to the exclusion of Borrower, any proofs of claim, <br />complaints, motions, applications, notices and other documents, in any case in respect of the <br />lessee under such Lease under the Bankruptcy Code. <br />(b) If there shall be filed by or against Borrower a petition under the Bankruptcy <br />Code, and Borrower, as lessor under any Lease, shall determine to reject such Lease pursuant to <br />Section 365(a) of the Bankruptcy Code, then Borrower shall give Administrative Agent not less <br />than ten (10) days' prior notice of the date on which Borrower shall apply to the bankruptcy <br />court for authority to reject the Lease. Administrative Agent shall have the right, but not the <br />obligation, to serve upon Borrower within such ten -day period a notice stating that (i) <br />Administrative Agent demands that Borrower assume and assign the Lease to Administrative <br />Agent pursuant to Section 365 of the Bankruptcy Code and (ii) Administrative Agent covenants <br />to cure or provide adequate assurance of future performance under the Lease. If Administrative <br />Agent serves upon Borrower the notice described in the preceding sentence, Borrower shall not <br />seek to reject the Lease and shall comply with the demand provided for in clause (i) of the <br />preceding sentence within thirty (30) days after the notice shall have been given, subject to the <br />performance by Administrative Agent of the covenant provided for in clause (ii) of the preceding <br />sentence. <br />Article 9 - ENVIRONMENTAL HAZARDS <br />Section 9.1 ENVIRONMENTAL COVENANTS. Borrower has provided representations <br />and warranties regarding environmental matters set . forth in Section 3.17 of the Credit <br />Agreement and shall comply with the covenants regarding environmental matters set forth in <br />Section 5.8 of the Credit Agreement and as set forth in the Environmental Indemnity. <br />Section 9.2 ADMINISTRATIVE AGENT'S RIGHTS. Administrative Agent and any other <br />Person or entity designated by Administrative Agent, including but not limited to any <br />representative of a Governmental Authority, and any environmental consultant, and any receiver <br />appointed by any court of competent jurisdiction, shall have the right, but not the obligation, to <br />-12- <br />
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