Common use of Application of Partial Payments Clause in Contracts

Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by Xxxxxx, in Xxxxxx’s discretion. Xxxxxxxx agrees that neither Xxxxxx’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s application of such payment will constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 48 contracts

Samples: Multifamily Note (Resource Apartment REIT III, Inc.), Multifamily Note (Resource Apartment REIT III, Inc.), Multifamily Note (Steadfast Apartment REIT, Inc.)

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Application of Partial Payments. If at any time Lender Holder receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender Holder may apply the amount received to amounts then due and payable in any manner and in any order determined by Xxxxxx, in Xxxxxx’s discretion. Xxxxxxxx agrees that neither Xxxxxx’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor LenderHolder’s application of such payment will shall constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 2 contracts

Samples: Project Note, Project Note

Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by XxxxxxLender, in XxxxxxLender’s discretion. Xxxxxxxx Borrower agrees that neither XxxxxxLender’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s application of such payment will constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 2 contracts

Samples: Multifamily Note (Resource Apartment REIT III, Inc.), Multifamily Note (Bluerock Residential Growth REIT, Inc.)

Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by XxxxxxLxxxxx, in XxxxxxLxxxxx’s discretion. Xxxxxxxx Bxxxxxxx agrees that neither XxxxxxLxxxxx’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s application of such payment will constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 2 contracts

Samples: Multifamily Note (Bluerock Residential Growth REIT, Inc.), Multifamily Note (Bluerock Residential Growth REIT, Inc.)

Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by XxxxxxLxxxxx, in XxxxxxLxxxxx’s discretion. Xxxxxxxx Bxxxxxxx agrees that neither XxxxxxLxxxxx’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s application of such payment will shall constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 2 contracts

Samples: Multifamily Note (Preferred Apartment Communities Inc), Multifamily Note (Preferred Apartment Communities Inc)

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Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by Xxxxxx, in Xxxxxx’s 's discretion. Xxxxxxxx agrees that neither Xxxxxx’s 's acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s 's application of such payment will constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 1 contract

Samples: Multifamily Note (Steadfast Income REIT, Inc.)

Application of Partial Payments. If at any time Lender receives, from Borrower or otherwise, any amount applicable to the Indebtedness which is less than all amounts due and payable at such time, Lender may apply the amount received to amounts then due and payable in any manner and in any order determined by Xxxxxx, in Xxxxxx’s discretion. Xxxxxxxx agrees that neither Xxxxxx’s acceptance of a payment from Borrower in an amount that is less than all amounts then due and payable nor Lender’s application of such payment will shall constitute or be deemed to constitute either a waiver of the unpaid amounts or an accord and satisfaction.

Appears in 1 contract

Samples: Multifamily Note (Emeritus Corp\wa\)

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