RecD08 2008-042417 - Laserfiche WebLink

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subsection and/or anything contained in this Agreement shall not limit the rights of the Subordinate Lender to file any pleadings, documents, claims or notices with the appropriate court with jurisdiction over the proposed Taking and/or Casualty; and (ii) all proceeds received or to be received on account of a Taking or a Casualty, or both, shall be applied (either to payment of the costs and expenses of repair and restoration or to payment of the Senior Security Instrument in the manner determined by the Swap Provider in its sole discretion; provided, however, that if the Swap Provider elects to apply such proceeds to payment of amounts payable under the Senior Security Instmment, any proceeds remaining after the satisfaction in full of the principal of, interest on and other amounts payable under the Senior Security Instrument shall be paid to, and may be applied by, the Subordinate Lender in accordance with the applicable provisions of the Subordinate Loan Documents, provided however, the Swap Provider agrees to consult with the Subordinate Lender in determining the application of Casualty proceeds, provided further however that in the event of any disagreement between the Swap Provider and the Subordinate Lender over the application of Casualty proceeds, the decision of the Swap Provider, in its sole discretion, shall prevail. (c) No Modification of Subordinate Loan Documents. The Borrower and the Subordinate Lender each agrees that, until amounts payable under the Senior Documents have been paid in full, it will not, without the prior written consent of the Swap Provider in each instance, increase the amount of the Subordinate Loan, increase the required payments due under the Subordinate Loan, decrease the term of the Subordinate Loan, increase the interest rate on the Subordinate Loan, or otherwise amend the Subordinate Loan terms in a manner that creates an adverse effect upon the Swap Provider under the Senior Documents. Any unauthorized amendment of the Subordinate Loan Documents or assignment of the Subordinate Lender's interest in the Subordinate Loan without the Swap Provider's consent shall be void ab initio and of no effect whatsoever. 9. Modification of Swap Agreement. The Subordinate Lender consents to any agreement or arrangement in which the Swap Provider waives, postpones, extends, reduces or modifies any provisions of the Senior Documents, including any provision requiring the payment of money. Subordinate Lender further agrees that its agreement to subordinate hereunder shall extend to any new mortgage debt which is for the purpose of paying all or any part of the Swap Agreement payments (including reasonable and necessary costs associated with the closing and/or the financing). 10. Default by the Subordinate Lender or Swap Provider. If the Subordinate Lender or Swap Provider defaults in performing or observing any of the terms, covenants or conditions to be performed or observed by it under this Agreement, the other, non-defaulting lender shall have the right to all available legal and equitable relief. 11. Notices. Each notice, request, demand, consent, approval or other communication (hereinafter in this Section referred to collectively as "notices" and referred to singly as a "notice") which the Swap Provider or the Subordinate Lender is required or permitted to give to the other party 9