Laserfiche WebLink
claim or suit brought by a person or third party against the Sponsor or the Sponsor's <br /> officers,agents, employees or servants. <br /> (b) If a claim or suit is brought against the Sponsor, the Authority or the <br /> Sponsor's or Authority's officers, agents, employees or servants, for which the Owner is <br /> responsible pursuant to Paragraph 10(a), the Owner shall defend, at the Owner's cost and <br /> expense, any suit or claim, and shall pay any resulting claims judgments, damages, losses, <br /> costs, expenses or settlements against the Sponsor, the Authority or the Sponsor's or <br /> Authority's officers, agents, employees or servants. <br /> (c) The Authority shall be entitled to rely upon the provisions of this <br /> Paragraph 10 as a third pariy beneficiary; provided that under no circumstances shall the <br /> Authority be deemed a party to this Agreement. <br /> 11. DEFAULT. Upon violation of any of the provisions of this Agreement by the <br /> Owner shall be deemed an"Event of Default"hereunder. The Sponsor shall give written notice of <br /> an Event of Default to the Owner, as provided in Paragraph 13 hereof. If (i) such Event of <br /> Default is not corrected to the satisfaction of the Sponsor within thirty (30) days after the date such <br /> notice is given, or within such fiuther time as the Sponsor in its sole discretion permits (but if such <br /> Event of Default is of a nature that it cannot be cured within such thirty (30) day period, then so , <br /> long as the Owner commences to cure within such thirty (30) day period and diligently pursues �� <br /> such cure to completion within a reasonable period not to exceed one hundred twenty (120) days <br /> from the date of such notice, it shall not be considered to be an Event of Default), or (ii) if there <br /> exists any Default under any other Loan Document, the Sponsor may declare a default under this <br /> Agreement ("DefaulY'), effective on the date of such declaration of Default and notice thereof to <br /> the Owner, and upon such default the Sponsor may: <br /> (a) Ternunate this Agreement; <br /> (b) Exercise any rights it may have under the Loan Documents; and <br /> (c) Exercise such other rights or remedies as may be available to the Sponsor, <br /> at law or in equity. <br /> The Sponsor's remedies are cumulative, and the exercise of one remedy shall not be <br /> deemed an election of remedies, nor foreclose the exercise of any other remedy by the Sponsar. <br /> No waiver of any Event of Default of this Agreement by the Sponsor shall be deemed to be a <br /> waiver of any other Event of Default or a subsequent Event of Default. If the Sponsor fails to <br /> exercise, or delays in exercising, any right under this Agreement, such failure or delay shall not be <br /> deemed a waiver of such right or any other right. <br /> 12. AMENDMENT. This Agreement shall not be altered or amended except in a <br /> writing signed by the parties hereto. <br /> 13. NOTICES. Any notice, demand, request or other communication that any party <br /> may desire or may be required to give to any other party hereunder shall be given in writing, at the <br /> addresses set forth in the preliminary paragraph hereof,by any of the following means: (a)personal <br /> service; (b)electronic communication, whether by telegram or telecopier, together with <br /> 5 <br />